JSW Steel Output Dips 5% on Plant Shutdown Ahead of Q3 Results
Overview
JSW Steel reported a 5% quarter-on-quarter decline in consolidated steel output for Q3 FY26, producing 7.48 million tonnes. The drop stems from a blast furnace shutdown at its Vijaynagar plant for upgrades. Despite the QoQ dip, production is up 6% year-on-year. The company's Q3 financial results are due January 23, 2026, while it also faces a Competition Commission of India probe.
Stocks Mentioned
JSW Steel's consolidated steel production for the third quarter of fiscal year 2026 fell by 5% sequentially, totaling 7.48 million tonnes. This marks a decrease from the 7.90 million tonnes reported in the previous quarter.
Production Hit by Plant Upgrade
The primary driver for this output reduction is the planned shutdown of a blast furnace at the company's Vijaynagar facility. Blast Furnace 3 has been offline since September for a capacity upgrade, with operations expected to resume by the end of the current fiscal year.
Mixed Performance Metrics
Despite the quarterly decline, JSW Steel's performance shows year-on-year growth. Consolidated production was 6% higher compared to the same period last year. Indian operations contributed 7.28 million tonnes in Q3 FY26, down 5% quarter-on-quarter but up 7% year-on-year. The company's Ohio plant reported 0.28 million tonnes of production in the quarter.
Upcoming Results and Regulatory Scrutiny
JSW Steel has scheduled the release of its third-quarter financial results for January 23, 2026. The company's share price has seen a modest gain of 4.7% over the past month. Investors are also monitoring an ongoing probe by the Competition Commission of India (CCI), which found the company in breach of antitrust law for alleged collusion on steel selling prices.
