5002282025-01-012025-03-315002282025-03-315002282024-03-315002282024-04-012025-03-315002282025-01-012025-03-31in-capmkt:OtherExpenses1Member5002282025-01-012025-03-31in-capmkt:OtherExpenses2Member5002282025-01-012025-03-31in-capmkt:OtherExpenses3Member5002282024-04-012025-03-31in-capmkt:OtherExpenses1Member5002282024-04-012025-03-31in-capmkt:OtherExpenses2Member5002282024-04-012025-03-31in-capmkt:OtherExpenses3Member5002282025-01-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15002282024-04-012025-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15002282025-01-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15002282024-04-012025-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15002282025-01-012025-03-31AuditorDomain15002282025-01-012025-03-31in-capmkt:AuditedMember5002282025-03-31in-capmkt:AuditedMember5002282025-01-012025-03-31in-capmkt:AdjustedMember5002282025-03-31in-capmkt:AdjustedMember5002282025-01-012025-03-31AuditQualification1iso4217:INRxbrli:pureiso4217:INRxbrli:shares500228JSWSTEELNOTLISTEDINE019A01038JSW STEEL LIMITEDMain BoardEquity2024-04-012025-03-312025-05-232025-05-16INRCroresQuarterlyFourth quarterSingle segmentManufacturing of steel2025-05-2310:00:002025-05-2315:40:00trueCash Flow IndirectStatement on impact of audit qualification2025-01-012025-03-31AuditedConsolidated44819000000023000000004504900000002277300000005490000000551000000011810000000209400000002497000000013387000000043032000000020170000000-440000000197300000007760000000-54700000002290000000017440000000000-243000000015010000000-9450000000556000000015030000000-200000005580000000-20000000244000000016.156.14006.156.140.01170.0270.03222024-04-012025-03-31AuditedConsolidated16882400000006940000000169518000000088324000000084500000008290000000479800000008412000000093090000000511240000000163641000000058770000000-48900000005388000000017680000000-182000000015860000000038020000000000-3110000000349100000005000000003541000000035040000000-13000000035550000000-1400000002440000000179191000000014.3614.320014.3614.320.01170.01990.029Mining premium and royalties20240000000Power and fuel42780000000Other expenses70850000000Mining premium and royalties91440000000Power and fuel161610000000Other expenses258190000000116814000000020478000000016300000006430000000200900000005290000000036890000000570900000000700000000118520000000176310000000297000000077530000000170006000000034956000000058190000000841500000001165500000001630000000020000000153100000002905200000001500000006684000000070707000000029000000002407420000000305000000079191000000079496000000021700000000816660000000819830000000000552300000008750600000001399000000095100000000035000000098450000000013974000000013160000000312360000000325520000000801100000005453700000005606000000028500000001980000000060626000000000159076000000024074200000008125000000026090000000-86600000000-122900000000000-10960000000000930900000000-990000000000024000000054700000001700000000-47000000000595000000058400000000174840000000228720000000000197300000000208990000000018800000000627400000001204900000000000590000000126940000000000000000000000002400000006600000000026090000000-1699700000000000000028243000000018758000000036900000001785000000088350000000012420000000-262000000036400000000-1500000003625000000080300000000116550000000Items that will not be reclassified to profit or loss-10640000000-10640000000Items that will not be reclassified to profit or loss880000000880000000-15400000001450000000Items that will be reclassified to profit or loss-500000000-500000000Items that will be reclassified to profit or loss24800000002480000000-1500000001410000000-9450000000500000000AuditedQualified opinionM/s SRBC & Co. LLPtrue2026-02-281688240000000168824000000016364100000001636410000000349100000003491000000014.3614.362407420000000240742000000015907600000001590760000000816660000000816660000000As stated in note 2 to the consolidated financial results the Company is in process of evaluating the possible legal remedies pursuant to the Honble Supreme Courts rejection of the Companys Resolution Plan for acquisition of Bhushan Power and Steel Limited BPSL and believes there is no adverse material impact on the consolidated financial results. Pending the outcomes of the legal remedies being evaluated by the Company as stated in the said note and the final outcome of regulatory actions and given the uncertainties involved in this regard we are unable to assess the possible consequential effects thereof on these consolidated financial results. <br></br> <br></br> The Honble Supreme Court pronounced the judgment dated 2 May 2025 rejecting Companys resolution plan for Bhushan Power and Steel Limited BPSL a subsidiary of the Company and directing the refund to the Company of amounts paid to financial creditors and operational creditors of BPSL and equity contribution made in BPSL basis the Honble Supreme Court Order dated 6 March 2020. The Honble Supreme Court also directed that liquidation proceedings be initiated by National Company Law Tribunal NCLT for BPSL under Section 33 1 of Insolvency Bankruptcy Code IBC. <br></br> <br></br> The Company has carried out an assessment of control as per Ind AS 110 Consolidated Financial Statements and based on legal opinion obtained by the Company has concluded that the Company has control over BPSL as at the date of the balance sheet and have continued with the consolidation of BPSL financial statement with the Company. Accordingly Revenue from Operations and Profit Before Tax include Rs. 21440 crores previous year Rs. 21893 crores and Rs. 260 crores previous year Rs. 674 crores respectively pertaining to BPSL. The Company carrying amount of the net assets relating to BPSL included in the Consolidated Financial Results as at 31 March 2025 is Rs. 14091 crores. Further the Company has carried out a recoverability assessment considering the Honble Supreme Court Order dated 6 March 2020 and judgement dated 2nd May 2025 ESCROW Agreement with erstwhile lenders of the Committee of Creditors and legal opinion obtained by the Company has concluded that the recoverable amount is sufficient enough to cover the carrying value of the net assets of BPSL and hence no provision is required to be made for the net assets included in the consolidated financial results of the Company as on 31 March 2025. The Company in consultation with its legal advisors is in the process of evaluating all options to finalise the legal remedies including Review of the judgement dated 2 May 2025 of the Honble Supreme Court. Pending the outcome of such actions no adjustments have been made since the Company believes that there is no adverse material impact on the Consolidated Financial Results as on and for the year 31 March 2025. <br></br> Qualified opinionWhether appeared first timeNAThe Honble Supreme Court pronounced the judgment dated 2 May 2025 rejecting Companys resolution plan for Bhushan Power and Steel Limited BPSL a subsidiary of the Company and directing the refund to the Company of amounts paid to financial creditors and operational creditors of BPSL and equity contribution made in BPSL basis the Honble Supreme Court Order dated 6 March 2020. The Honble Supreme Court also directed that liquidation proceedings be initiated by National Company Law Tribunal NCLT for BPSL under Section 33 1 of Insolvency Bankruptcy Code IBC. The Company has carried out an assessment of control as per Ind AS 110 Consolidated Financial Statements and based on legal opinion obtained by the Company has concluded that the Company has control over BPSL as at the date of the balance sheet and have continued with the consolidation of BPSL financial statement with the Company. Accordingly Revenue from Operations and Profit Before Tax include Rs. 21440 crores previous year Rs. 21893 crores and Rs. 260 crores previous year Rs. 674 crores respectively pertaining to BPSL. The Company carrying amount of the net assets relating to BPSL included in the Consolidated Financial Results as at 31 March 2025 is Rs. 14091 crores. Further the Company has carried out a recoverability assessment considering the Honble Supreme Court Order dated 6 March 2020 and judgement dated 2nd May 2025 ESCROW Agreement with erstwhile lenders of the Committee of Creditors and legal opinion obtained by the Company has concluded that the recoverable amount is sufficient enough to cover the carrying value of the net assets of BPSL and hence no provision is required to be made for the net assets included in the consolidated financial results of the Company as on 31 March 2025. The Company in consultation with its legal advisors is in the process of evaluating all options to finalise the legal remedies including Review of the judgement dated 2 May 2025 of the Honble Supreme Court. Pending the outcome of such actions no adjustments have been made since the Company believes that there is no adverse material impact on the Consolidated Financial Results as on and for the year 31 March 2025. <br></br> NAPending the outcomes of the legal remedies being evaluated by the Company as stated in <br></br> the note 2 of consolidated financial results and the final outcome of regulatory actions; and <br></br> given the uncertainties involved in this regard, we are unable to assess the possible <br></br> consequential effects thereof on these consolidated financial results. <br></br> Mr. Jayanat AcharyaMr. Swayam SaurabhMr. Seturaman MahalingamM/s SRBC & Co. LLPMumbai2025-05-23