JSW Steel Q4 Results: Q4 Profit falls to ₹1,322 Crore

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Synopsis:

Quarter four of JSW Steel’s Q4FY results had some interesting numbers. With Q4 Profit at ₹1,322 Crore down from ₹3,741 Crore YoY the company saw the Q4 Revenue grow to ₹46,269 Crore up from ₹41,940 Crore QoQ.

5 Key Financial Highlights

Q4FY24 had some significant numbers that showed how the company fared in both Q4FY24 and the entirety of FY24. Here are some of the main highlights from the JSW Steel Q4 Results:

  • Q4 Revenue up to ₹46,269 Crore from ₹41,940 Crore QoQ.

  • Q4 Profit at ₹1,322 Crore down from ₹3,741 Crore YoY

  • Q4 Profit Before Tax down to ₹2,012 Crore from ₹4,249 Crores YoY

  • FY24 Revenue up to ₹1,75,006 Crores from  ₹1,65,960 Crore YoY

  • FY24 Profit up to ₹8,973 Crore from ₹4,139 Crore YoY

Explore: Jsw Steel Share Price

Key Business Updates:

  • Consolidated Crude Steel Production for the quarter stood at 6.79 million tonnes, lower by 1% QoQ and higher by 3% YoY

  • Steel Sales for the quarter stood at 6.73 million tonnes, higher by 12% QoQ and by 3% YoY.

  • Retail sales increased QoQ by 16% and were lower by 3% YoY

  • The company’s Italy operations saw its manufacturing facility produce 74,476 tonnes and sold 79,969 tonnes of rolled products during the quarter.

  • The Plate and Pipe Mill in Texas saw its sales volumes for the quarter at 1,00,668 net tonnes of Plates and 8,245 net tonnes of Pipes. It reported an EBITDA of US$ 23.7 million.

Additional Read: JSW Steel Ltd.

Profitability Analysis:

Q4FY24 results for JSW Steel have come forward with some interesting numbers for the company in this financial year. The company’s Q4 Revenue stood at ₹46,269 Crore up from ₹41,940 Crore QoQ while the quarter’s Profit saw a downward trajectory and stood at ₹1,322 Crore down from ₹3,741 Crore YoY. Q4’s Profit Before Tax too saw the same fate and stood at ₹2,012 Crore, down from ₹4,249 Crores YoY. The company’s FY24 Revenue saw significant growth and stood at ₹1,75,006 Crores, up from  ₹1,65,960 Crore YoY while its FY24 Profit was up to ₹8,973 Crore from ₹4,139 Crore. The company also saw growth in its steel production capacity with consolidated crude steel production for the quarter at 6.79 million tonnes, lower by 1% QoQ but higher by 3% YoY. JSW Steel’s retail sales also increased QoQ by 16% but were lower by 3% YoY. The company’s Board of Directors has also recommended a final dividend of ₹7.30 per fully paid equity share.

 Additional Read: Upcoming Q4 Results Today | Godrej Ind, JSW Steel, NHPC, RVNL 

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of JSW Steel (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Total Revenue from Operations

46,269

41,940

46,962

1,75,006

1,65,960

Profi Before Tax

2.012

3,303

4,249

13,380

5,655

Net Profit For The Period

1,322

2,450

3,741

8,973

4,139

Major Operational Metrics - Standalone Q4 (FY2023-24) Financial Results of JSW Steel (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Total Revenue from Operations

35,341

33,310

37,153

1,35,180

1,31,687

Profi Before Tax

1,624

3,263

3,938

12,102

6,968

Net Profit For The Period

1,007

2,416

2,838

8,041

4,937

The Future of JSW Steel

Even though the fourth quarter has not been too significant in terms of the profit the company has seen, in the entirety of FY24, JSW Steels has seen quite a bit of growth. The Company’s Phase-Il expansion (from 3.5 MTPA to 5 MTPA) at BPSL is largely completed and it expects the ramp-up to be completed by the end of Q2 FY25. JSW Steel Coated Products Limited has its colour-coated line of 0.12 MTPA in Jammu & Kashmir in place and expects it to start commissioning activities in Q2 FY25. The company expects a consolidated capex for FY25 to be ₹20,000 Crores.

Additional Read:  Quarterly Results

Conclusion

Though the numbers of JSW Steel for the quarter have been interesting, to say the least, there have been certain hits and misses along the way for sure. However, seeing as the company did quite well for itself in the entirety of FY24, saw its sales go up both locally and globally and it has quite a few ongoing projects in hand, the company has a positive outlook as far as FY25 is concerned.    

Additional Read: Aditya Birla Capital Q4 Results

About The Company:

With foundations in Tarapur, Maharashtra, it was in the year 1982 that the Jindal Group acquired Piramal Steel Limited, then known for operating a mini steel mill and renamed it Jindal Iron and Steel Company (JISCO). The Jindal Group then proceeded to set up JISCO’s first-ever steel plant in Vasind, near Mumbai, the same year. Today, JSW Steel Limited has grown into an Indian multinational steel producer and operates as a flagship company of the JSW Group. After some major acquisition decisions, the company has officially become India's second-largest private-sector steel company.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Frequently Asked Questions

What was the revenue that JSW Steel has been able to make in Q4?

Answer Field

JSW Steel’ Q4 revenue stood at ₹46,269 Crore up from ₹41,940 Crore QoQ and its FY24 revenue was ₹1,75,006 Crores from  ₹1,65,960 Crore YoY

What are some of the main business updates for JSW Steel?

Answer Field

Despite the Q4FY24 numbers for JSW Steel showing the interesting hits and misses the company has had in FY24, it has also seen quite a few business updates. Here is a list of some of them:

  • Consolidated Crude Steel Production for the quarter stood at 6.79 million tonnes, lower by 1% QoQ and higher by 3% YoY

  • Steel Sales for the quarter stood at 6.73 million tonnes, higher by 12% QoQ and by 3% YoY.

  • Retail sales increased QoQ by 16% and were lower by 3% YoY

  • The company’s Italy operations saw its manufacturing facility produce 74,476 tonnes and sold 79,969 tonnes of rolled products during the quarter.

  • The Plate and Pipe Mill in Texas saw its sales volumes for the quarter at 1,00,668 net tonnes of Plates and 8,245 net tonnes of Pipes. It reported an EBITDA of US$ 23.7 million.

What was the Q4 and the FY24 Profit for JSW Steel?

Answer Field

JSW Steel saw a Q4FY24 Profit of ₹1,322 Crore down from ₹3,741 Crore YoY while its FY24 Profit stood at ₹8,973 Crore up from ₹4,139 Crore YoY

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