JSW Steel Q2 Update: Production rises 5% to 7.27 MT; India capacity utilisation at 88%

JSW Steel reported a 5% year-on-year (YoY) increase in consolidated crude steel production to 7.27 million tonnes (MT) in Q2 FY27, while production rose 10% sequentially, according to an exchange filing on Thursday, October 8.

Production from the company’s Indian operations stood at 7.07 MT, up 5% YoY and 11% quarter-on-quarter (QoQ) from 6.35 MT in Q1 FY27. Production at JSW Steel USA – Ohio stood at 0.20 MT during the quarter.

The capacity utilisation of Indian operations was 88% in Q2 FY27. For September 2026, utilisation improved to around 90% as the BF3 blast furnace at Vijayanagar gradually ramped up following a shutdown for capacity upgradation.

For the first half of FY27, consolidated crude steel production stood at 13.86 MT, up 4% YoY from 13.32 MT in the corresponding period last year. Indian operations contributed 13.41 MT, a 4% YoY increase.

JSW Steel noted that the year-ago production figures have been adjusted for comparison following the transfer of the steel business undertaking of Bhushan Power and Steel to JSW-JFE Steel in March 2026.

Shares of the company ended 4.5% lower at ₹1,175.2 ahead of the business update on Thursday. JSW Steel was one of the top Nifty losers today, second only to Adani Enterprises. The stock is just 0.7% up year-to-date and has delivered about 3% returns over the last 12 months.

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