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JSW Steel purchases NSL Green Steel Recycling's remaining 50% stake

Sep 28, 2023

By: BlinkX Research Team

JSW Steel completed the deal by acquiring NSL Green Steel Recycling's (NSL) entirely 50% ownership from National Steel Holding (NSHL). Following the conclusion of this transaction, the company's ownership in NSL grew from 50% to 100%, and as stated in the BSE filing, NSL became a wholly owned subsidiary of the company on September 27.

JSW Steel manufactures a broad range of steel products, such as hot- and cold-rolled coils, galvanized products, and different steel derivatives. JSW Steel recorded a 10.83 percent YoY growth in revenue from operations at Rs 42,213 crore in its results for the April-June quarter. The quarter's net profit increased 189.39 percent YoY to Rs 2,428 crore. Operating profit margins increased to 17% for the quarter, up 600 basis points annually.