ArcelorMittal expanded its Indian steel footprint by acquiring Essar Steel, Uttam Galva Steels, and Indian Steel Corporation for a combined ₹46,522 crore. In 2019, it partnered with Nippon Steel to acquire a major steel manufacturing presence in India through the takeover of Essar Steel India. The company reported a net income of $1.3 billion in 2024, which was more than 40 percent higher than in 2023, reflecting improved profitability on revenue of $62.4 billion. In Q1 2026, ArcelorMittal's sales increased to $15,457 million from $14,798 million a year earlier, indicating higher sales year over year. The company also reported an increase in first-quarter revenue, supported by higher steel output and stronger pricing compared to the prior period. However, it faced a decrease in net income for Q1 2026, which fell to $575 million from $805 million a year earlier, despite an increase in sales. Additionally, ArcelorMittal divested a 10% equity stake in Vallourec for approximately $667 million, reallocating the proceeds toward shareholder returns via a buyback program.