NEW DELHI: The Supreme Court’s decision to revoke the resolution plan of Bhushan Power and Steel Ltd (BPSL) could burn a ₹22,000 crore hole in the consolidated turnover of JSW Steel.
BPSL, which was acquired by the Sajjan Jindal-promoted JSW Steel in 2021, earned revenue of ₹21,800 crore in FY24 and posted a total profit of ₹671 crore — 3.4 times the profit earned in the previous year. It reported its highest-ever annual steel sales of 2.96 million tonnes, up 17.5% year-on-year in 2023–24. In the first nine months of FY25, BPSL has generated ₹15,800 crore in revenue.
The setback for JSW Steel goes beyond the loss of 3.5 million tonnes per annum of production capacity and approximately ₹22,000 crore in turnover; it also…
