JSW Steel Sets Ambitious Target to Expand Capacity to 80 Million Tonnes by 2031
JSW Steel raises capacity target to 80 mtpa amid strong FY26 results
Mint
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JSW Steel, led by Sajjan Jindal, aims to increase its steel production capacity to 80 million tonnes per annum (mtpa) by 2031, nearly doubling its current capacity of 37.9 mtpa. This expansion follows strong FY26 results, including a consolidated net profit of ₹22,316 crore.
- 01JSW Steel plans to expand its capacity to 80 mtpa by 2031 through brownfield expansion and joint ventures.
- 02The company's standalone capacity target has been raised to 62 mtpa by FY32 from an earlier target of 50 mtpa.
- 03JSW Steel reported a consolidated net profit of ₹22,316 crore for FY26, a nearly six-fold increase year-on-year.
- 04Steel consumption in India grew by 7.9% in FY26 and is expected to grow by 7-9% in FY27.
- 05Analysts express caution regarding future demand due to economic uncertainties and rising raw material costs.
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JSW Steel, under the leadership of Sajjan Jindal, has announced plans to nearly double its steelmaking capacity to 80 million tonnes per annum (mtpa) by 2031. This ambitious expansion strategy includes brownfield projects and joint ventures, aiming to position the company among the world's largest steel producers. Currently, JSW Steel operates with a capacity of 37.9 mtpa. The company has increased its standalone capacity target to 62 mtpa by FY32, up from 50 mtpa. Additionally, joint ventures with JFE and POSCO are expected to contribute a cumulative capacity of 16 million tonnes by FY32, bringing the total capacity in India to 78 million tonnes, including 1.5 million tonnes from its operations in Ohio.
In FY26, JSW Steel reported a consolidated net profit of ₹22,316 crore, a significant rise from ₹3,504 crore in the previous year, largely due to a one-time gain from the sale of its Bhushan Power and Steel assets. Revenue from operations rose by 10% year-on-year to ₹1,85,470 crore. The company anticipates continued growth in steel demand, projected at 7-9% for FY27, but acknowledges potential risks such as energy price volatility and macroeconomic uncertainties. Analysts remain cautious about the demand outlook, emphasizing dependence on sectors like infrastructure and public spending.
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The expansion of JSW Steel's capacity is expected to create jobs and boost local economies, particularly in regions involved in steel production and related industries.
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