JSW Steel April output dips 1% as Blast Furnace shutdown weighs on production

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A man walks past the JSW Steel stall at the India Steel 2025 Conference in Mumbai, India, April 25, 2025. REUTERS/Francis Mascarenhas | Photo Credit: FRANCIS MASCARENHAS

JSW Steel reported consolidated crude steel production of 21.18 lakh tonnes for April 2026, down 1 per cent from 21.40 lakh tonnes in the same month last year, according to a regulatory filing submitted to stock exchanges on Tuesday.

Indian operations contributed 20.40 lakh tonnes, a marginal 1 per cent decline year-on-year, while the company’s US facility in Ohio produced 0.78 lakh tonnes, down 7 per cent from 0.84 lakh tonnes in April 2025.

The primary drag on domestic output was a planned shutdown of Blast Furnace 3 (BF3) at the company’s Vijayanagar plant in Karnataka for capacity upgradation. Excluding BF3 from the prior-year base, production growth was approximately 10 per cent, driven by the full ramp-up of JVML operations. Capacity utilisation at Indian operations stood at around 94 per cent excluding BF3, but fell to 83 per cent when BF3 capacity was included.

The year-ago figures have been restated following the transfer of the steel business of Bhushan Power and Steel Limited (BPSL) to JSW-JFE Steel Limited, a joint venture, on a slump-sale basis in March 2026.

JSW Steel shares were trading at ₹1,250.60 on the NSE at 12.50 PM on Tuesday, down 0.95 per cent from the previous close of ₹1,262.60, giving the company a market capitalisation of approximately ₹3.06 lakh crore. The stock has outperformed the broader market significantly, returning 24 per cent over the past year against a 5.6 per cent decline in the Nifty 50 over the same period.

JSW Steel has a consolidated crude steel capacity of 35.7 MTPA and has outlined plans to expand this to 48.9 MTPA over the next four years.