Mumbai, June 24 -- The brokerage expects JSPL's EBITDA to nearly double by FY27, driven by improved operating leverage, a better product mix, lower production costs, and relatively stable steel prices.

It also projects a sharp rebound in volume growth. After a tepid 1% CAGR over FY22-25, volumes are expected to grow at 19% annually through FY27, supported by ongoing capacity expansions. JSPL is set to begin hot metal production from its 4.6 mtpa blast furnace in early Q2FY26, while a 3 mtpa basic oxygen furnace is also scheduled for commissioning by the end of that quarter. This ramp-up is expected to boost FY26 steel output and sales to 9 mt, marking a 12.5% year-on-year increase.

Jindal Steel and Power offers a product portfolio that ...