JSW Steel reported a sharp jump for the quarter ended June (Q1 FY27) on Friday, 17 July, with consolidated net profit more than doubling year-on-year to ₹4,696 crore, aided by higher revenue growth and improved operating performance.
The steelmaker had posted a net profit of ₹2,209 crore in the corresponding quarter of the previous financial year, according to its exchange filing.
Revenue from operations increased 9.8% year-on-year to ₹47,364 crore in Q1 FY27, compared with ₹43,147 crore a year earlier. Total income rose to ₹48,088 crore from ₹43,497 crore in the year-ago period.
Total expenses for the quarter stood at ₹41,830 crore, up from ₹40,325 crore in the corresponding quarter last year.
On the operational front, crude steel production grew 3% year-on-year to 6.59 million tonnes (MT) during the quarter, compared with 6.38 MT in Q1 FY26.
During the quarter, the company also commenced construction of its 2-million-tonne-per-annum steel plant in Andhra Pradesh, involving an investment of more than ₹16,350 crore, as part of its ongoing capacity expansion plans.
A part of the JSW Group, JSW Steel is one of India’s largest integrated steel producers and continues to expand its manufacturing footprint to meet rising domestic steel demand.
JSW One Platforms IPO
JSW Steel, in an exchange filing, said its Board of Directors has approved the company’s participation in the proposed initial public offering (IPO) of JSW One Platforms Ltd (JOPL) as a promoter selling shareholder. Under the proposal, JSW Steel plans to offer up to ₹811 crore of shares through an offer for sale (OFS), subject to regulatory approvals, market conditions, and other necessary clearances. The company added that the final issue price and other IPO-related details will be determined at a later stage in accordance with applicable SEBI regulations.
JSW Steel share price today
JSW Steel share price today closed 1.43% higher at ₹1,238.35 apiece on the BSE.
According to Rathi, the stock has faced strong resistance in the ₹1,285-1,310 zone, where it has formed multiple bearish patterns. On the daily 0.25% × 3 Point & Figure chart, JSW Steel has registered a 100% Bearish Pole, followed by a Bearish Triangle Breakdown, signalling sustained selling pressure. He added that the bearish crossover of the 20-column moving average below the 50-column moving average indicates that short-term momentum has shifted decisively in favour of sellers.
However, Rathi believes the current weakness appears to be a corrective phase rather than a reversal of the primary uptrend on the higher timeframe 1% × 3 Point & Figure chart, where the stock is undergoing a bearish pattern retest.
He identified the ₹1,220-1,200 zone as a key support area that could provide some near-term stability. Nevertheless, Rathi cautioned that there are no meaningful technical signals indicating that buyers have regained control, and until a convincing reversal pattern or breakout emerges, the stock’s near-term outlook remains cautious to bearish.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
