By Bharat Fast News Desk
JSW One Platforms has cut its losses sharply ahead of a public listing. The JSW Group’s B2B ecommerce arm, led by JMD and CEO Gaurav Sachdeva, narrowed its consolidated net loss by 50.9% to Rs 106.5 Cr in FY26. The FY25 loss was Rs 217 Cr. Operating revenue climbed 44.9% to Rs 5,743.4 Cr, as per its DRHP.
Revenue Outpaces Expenses
Growth outran cost. Revenue rose to Rs 5,743.4 Cr from Rs 3,962.8 Cr in FY25. Total income, with other income of Rs 44.2 Cr, was Rs 5,787.6 Cr. Total expenses climbed 40.5% to Rs 5,894.1 Cr from Rs 4,196.5 Cr. The top line grew faster, so the gap narrowed. For the June quarter of FY27, the company turned profitable. It posted a consolidated profit of Rs 14.2 Cr on operating revenue of Rs 1,642.5 Cr.
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| Metric | FY25 | FY26 |
|---|---|---|
| Operating revenue | Rs 3,962.8 Cr | Rs 5,743.4 Cr |
| Total expenses | Rs 4,196.5 Cr | Rs 5,894.1 Cr |
| Net loss | Rs 217 Cr | Rs 106.5 Cr |
Steel and Cement Volumes Drive Growth
Sales of goods, its largest source, rose 45.5% to Rs 5,619.6 Cr from Rs 3,862.1 Cr. Steel volumes jumped 51.2% to 27.1 lakh tonnes. Cement volumes rose 23.9% to 2.6 lakh tonnes. The company credited private brands and service centres. MSME commission income rose to Rs 100.3 Cr from Rs 83 Cr. Financial services revenue grew more than sixfold to Rs 14.2 Cr, still just 0.2% of operating revenue.
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Where the Spending Went
Stock-in-trade purchases, the biggest expense, rose 42.7% to Rs 5,444.1 Cr from Rs 3,815.4 Cr. Transportation costs climbed 58% to Rs 152.1 Cr on a wider delivery network. Platform and technology expenses rose 32.9% to Rs 29.6 Cr. Employee benefit expenses slipped 1.2% to Rs 264.3 Cr. Share-based payments fell to Rs 16 Cr from Rs 59.5 Cr, while salaries rose to Rs 217 Cr from Rs 185.7 Cr.
The Rs 3,054 Cr IPO Plan
JSW One Platforms’ proposed IPO has a fresh issue of Rs 1,300 Cr and an offer for sale of Rs 1,754 Cr. JSW Steel will sell shares worth up to Rs 811 Cr. JSW Cement will offload up to Rs 123 Cr, and Mitsui and Co up to Rs 820 Cr. Of the fresh proceeds, Rs 500 Cr goes to JSW One Finance, Rs 350 Cr to technology and Rs 125 Cr to marketing. Incorporated in 2018 as JSW Retail and renamed in December 2020, it competes with OfBusiness, Infra.Market and Zetwerk‘s Terra91.