JSW Steel cites strong balance sheet as confidence for massive FY27 expansion
Joint MD & CEO Jayant Acharya says JSW Steel’s robust finances enable it to pursue a ₹22,000-24,000 crore capex plan and push capacity toward 80 million tonnes by FY27.
Jayant Acharya, joint managing director and CEO of JSW Steel, told Ishita Ayan Dutt that the company’s balance sheet gives it the confidence to continue a large-scale expansion despite global uncertainties. The steelmaker posted a 225% rise in Q2FY27 net profit, thanks to strong Indian demand and a rebound in long-product prices. It is on track to invest between ₹22,000 crore and ₹24,000 crore in FY27, using internal accruals that have reduced net debt to 1.28 times EBITDA.
Approved projects add 5 mt each at JSW JFE Steel Ltd (JJSL) and Vijayanagar, with additional capacity at Odisha Phase II, Sambalpur, Dolvi and a 1.8 mt cold-rolling line at Vasind. The firm is also expanding coking-coal supplies in Mozambique and Australia and boosting iron-ore mining. Acharya expects total capacity to reach about 79.5 mt, including US assets, and believes the draft National Steel Policy’s 600 mt target supports long-term growth. He noted that labour, land and approvals are largely secured, and past experience shows the company can navigate geopolitical headwinds.
Why it matters
JSW Steel’s investment plan could reshape India’s steel capacity and influence global steel markets.
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