JSW Steel Limited (NSE:JSWSTEEL)

JSW Steel Income Statement

Financials in millions INR. Fiscal year is April - March.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Revenue	1,744,960	1,688,240	1,750,060	1,659,600	1,463,710	798,390
Revenue Growth (YoY)	2.14%	-3.53%	5.45%	13.38%	83.33%	9.58%
Cost of Revenue	1,011,350	1,017,180	1,040,950	1,028,870	748,310	406,910
Gross Profit	733,610	671,060	709,110	630,730	715,400	391,480
Selling, General & Admin	50,830	49,260	47,130	40,030	35,710	25,560
Other Operating Expenses	410,670	387,130	375,260	384,360	283,560	165,180
Operating Expenses	560,740	529,480	504,110	499,130	379,280	237,530
Operating Income	172,870	141,580	205,000	131,600	336,120	153,950
Interest Expense	-85,690	-81,420	-77,290	-64,620	-46,660	-38,050
Interest & Investment Income	5,740	5,740	8,570	7,640	6,740	5,440
Earnings From Equity Investments	-4,250	-3,110	-1,720	-1,370	9,170	10
Currency Exchange Gain (Loss)	-4,310	-4,310	-3,390	-20,260	-4,720	1,050
Other Non Operating Income (Expenses)	1,430	-1,740	-2,810	-3,230	-2,250	-1,120
EBT Excluding Unusual Items	85,790	56,740	128,360	49,760	298,400	121,280
Impairment of Goodwill	-	-	-	-	-1,990	-630
Gain (Loss) on Sale of Investments	240	240	480	1,400	7,180	70
Gain (Loss) on Sale of Assets	-1,320	-1,320	-930	-520	-720	-370
Asset Writedown	-	-	-	-	-4,310	-200
Other Unusual Items	-1,470	-4,890	5,890	5,910	-1,110	-
Pretax Income	83,240	50,770	133,800	56,550	297,450	120,150
Income Tax Expense	22,490	15,860	44,070	15,160	88,070	41,420
Earnings From Continuing Operations	60,750	34,910	89,730	41,390	209,380	78,730
Minority Interest in Earnings	-480	130	-1,610	50	-2,730	380
Net Income	60,270	35,040	88,120	41,440	206,650	79,110
Net Income to Common	60,270	35,040	88,120	41,440	206,650	79,110
Net Income Growth	20.59%	-60.24%	112.64%	-79.95%	161.22%	96.30%
Shares Outstanding (Basic)	2,441	2,439	2,425	2,402	2,404	2,404
Shares Outstanding (Diluted)	2,445	2,445	2,436	2,417	2,417	2,417
Shares Change (YoY)	0.00%	0.39%	0.78%	-	-	-
EPS (Basic)	24.69	14.37	36.34	17.25	85.96	32.91
EPS (Diluted)	24.64	14.32	36.17	17.14	85.49	32.73
EPS Growth	20.56%	-60.41%	111.03%	-79.95%	161.20%	96.34%
Free Cash Flow	156,150	82,050	-37,230	85,390	161,790	78,650
Free Cash Flow Per Share	63.86	33.55	-15.28	35.33	66.93	32.54
Dividend Per Share	-	2.800	7.300	3.400	17.350	6.500
Dividend Growth	-	-61.64%	114.71%	-80.40%	166.92%	225.00%
Gross Margin	42.04%	39.75%	40.52%	38.01%	48.88%	49.03%
Operating Margin	9.91%	8.39%	11.71%	7.93%	22.96%	19.28%
Profit Margin	3.45%	2.08%	5.04%	2.50%	14.12%	9.91%
Free Cash Flow Margin	8.95%	4.86%	-2.13%	5.15%	11.05%	9.85%
EBITDA	267,860	230,420	283,700	202,440	392,380	197,540
EBITDA Margin	15.35%	13.65%	16.21%	12.20%	26.81%	24.74%
D&A For EBITDA	94,990	88,840	78,700	70,840	56,260	43,590
EBIT	172,870	141,580	205,000	131,600	336,120	153,950
EBIT Margin	9.91%	8.39%	11.71%	7.93%	22.96%	19.28%
Effective Tax Rate	27.02%	31.24%	32.94%	26.81%	29.61%	34.47%
Revenue as Reported	1,755,070	1,695,180	1,760,100	1,669,900	1,479,020	804,310

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.