JSW Steel said on Friday that its consolidated net profit more than doubled to ₹2,209 crore in the first quarter of FY26, backed by higher production and improved operational efficiencies. While revenue remained flat at ₹43,147 crore, lower costs and better realisations from international subsidiaries boosted the company’s bottom line.

Operating Ebitda in the quarter rose 37% year-on-year to ₹7,576 crore, with Ebitda margins improving sequentially. Crude steel production for the quarter stood at 7.26 million tonnes (up 14% year-on-year), while total steel sales reached 6.69 million tonnes (up 9% year-on-year). The company maintained a net debt-to-equity ratio of 0.95x, well within its stated cap of 1.75x.

Domestic steel sales grew 12% year-over-year, outpacing industry growth of around 8%. The retail and auto segments were standout performers—auto sales touched record levels with a 20% year-on-year increase, while retail sales rose 12% to 2.49 lakh tonnes. Branded store presence expanded to over 2,400 outlets across 1,900 towns.

JSW One, the company’s digital B2B platform, reported a gross merchandise value of ₹3,919 crore in the first quarter, up 54% year-on-year. The platform, now valued at over $1 billion following its latest funding round, processed 12,500 orders and saw nearly 80% of transactions from repeat customers. Steel volumes via JSW One grew 61% year-on-year to 5.48 lakh tonnes, while cement volumes almost doubled.

JSW Steel reaffirmed its commitment to carbon neutrality by 2050. It targets a 42% reduction in CO2 intensity by FY30 and has already achieved significant progress in emission and energy metrics. The company has commissioned 1 GW of renewable energy capacity and is investing in carbon capture, green hydrogen, and circularity initiatives.

Its biodiversity protocol, implemented across all sites, has now been recognised by the Global Reporting Initiative (GRI) and TNFD as a global best practice.

The company’s aggressive expansion plan remains on track, with ₹66,463 crore earmarked for capital expenditure. The 5 MTPA brownfield expansion at JVML-Vijayanagar is ramping up, while new facilities, such as galvanising lines and coke ovens, are coming online. It also received approval for a new ₹4,600 crore CRNO project at Vijayanagar.

Despite global uncertainties and softer steel prices, JSW Steel remains bullish on domestic demand, supported by government capital expenditure, robust infrastructure spending, and resilient macroeconomic fundamentals. With a firm focus on sustainability, digitisation, and value-added products, the company aims to produce 30.5 million tonnes and sell 29.2 million tonnes of steel in FY26. Its capex for FY26 is ₹20,000 crore.

“Our strategy continues to revolve around creating shared value for all stakeholders through responsible growth, digital transformation, and environmental stewardship,” the company said.