JSW Holdings Ltd logo

JSW Holdings Ltd

JSWHL NSE

Key Fundamentals

MicrocapInvestment CompanyFinancial Services
Market Cap
₹13,267 Cr
Volatility
Moderate
P/E Ratio
97.16
EBITDA
₹165 Cr
Return on Equity
0.44%
Debt to Equity
0
Book Value
₹29,740.07
52W High
₹22,790
52W Low
₹10,530

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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28 extracted metrics + investor summaries across FY17–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

3
  • Company is almost debt free.
  • Stock is trading at 0.40 times its book value
  • Market value of investments Rs.20,886 Cr. is more than the Market Cap Rs.13,348 Cr.

Weaknesses

2
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 0.60% over last 3 years.

Growth Rate

Revenue Growth
-27.65% ↘
Net Income Growth
-25.13% ↘
Cash Flow Change
-17.28% ↘
ROE
-30.16% ↘
ROCE
-29.17% ↘
EBITDA Margin (Avg.)
-2.29% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 4d ago
AI opinion · based on fundamentals
Risk high

JSW Holdings Ltd is a nearly debt-free holding company trading at a market cap of Rs.13,654 Cr with a P/B of 0.41x, while its market value of investments stands at Rs.20,886 Cr — representing a significant holding company discount. However, the company reports a very low ROE of ~0.60% over 3 years and has seen compounded sales and profit decline of -28% and -24% respectively on a TTM basis.

Bull Case 7
  • Company is almost debt-free, providing strong balance sheet resilience with negligible financial risk
  • Stock trades at 0.41x book value, indicating a deep discount to its net asset value
  • Market value of investments at Rs.20,886 Cr exceeds the market cap of Rs.13,487 Cr by over Rs.7,400 Cr, implying a ~35% holding company discount
  • 10-year stock CAGR of 25% demonstrates long-term wealth creation track record
  • 3-year stock CAGR of 38% shows strong medium-term price appreciation despite recent correction
  • 5-year compounded sales growth of 14% and profit growth of 15% indicate reasonable underlying business trajectory over a longer horizon
  • As a holding company of the JSW Group, it provides diversified exposure to steel, energy, cement and infrastructure sectors through a single entity
Bear Case 8
  • Return on equity is extremely low at 0.60% over 3 years and 0% last year, indicating poor capital efficiency
  • TTM compounded sales declined -28%, showing sharp revenue deterioration in the most recent period
  • TTM compounded profit declined -24%, reflecting significant earnings pressure
  • Company pays zero dividend despite reporting repeated profits, offering no income return to shareholders
  • PE ratio of 92.4x is extremely elevated for a holding company with negligible earnings growth
  • Stock has declined -35% over the past 1 year, indicating significant negative momentum and potential value trap risk
  • 3-year compounded sales growth of -24% and profit growth of -23% suggest a sustained multi-year deterioration in financials
  • ROE has remained stagnant at ~1% across 3, 5, and 10-year periods, showing no structural improvement in profitability

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 3h ago
Positives 1
  • Q1 profit up 9% YoY Aug 7

    Standalone net profit rose 9.1% YoY to ₹2,147.08 Lakhs in Q1FY26/Q1FY27, driven by higher interest income. Consolidated profit surged 87% YoY to ₹2,453.57 Lakhs.

Neutral 3
  • 25th AGM approves related party loans Aug 7

    AGM held on August 6, 2026 passed five ordinary resolutions including approval of material related party transactions for loans and share pledges, and reappointment of two directors.

  • BRSR filed with clean record Jul 15

    JSW Holdings filed its FY 2025-26 Business Responsibility and Sustainability Report reporting zero safety incidents and 100% sustainable sourcing, with Bureau Veritas providing reasonable assurance.

  • AGM date set for August 6 Jul 16

    Remote e-voting window opened from August 3 to August 5, 2026 for the 25th AGM conducted via video conferencing.

TL;DR: JSW Holdings posted steady Q1 earnings growth with standalone profit up 9% and consolidated profit up 87% YoY, supported by higher interest income. No material headwinds emerged, though reliance on related party transactions remains a governance watchpoint. The BRSR filing reflects strong ESG compliance. The trend is stable with modest earnings momentum heading into FY27.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
26
89
27
27
27
162
29
29
30
84
33
33
35
Expenses
3
3
3
3
3
4
3
4
4
4
4
12
6
Operating Profit
23
86
25
24
24
158
26
26
26
80
29
21
29
OPM %
89%
97%
90%
87%
88%
98%
89%
87%
88%
96%
89%
63%
84%
Other Income
0
0
0
0
0
0
0
0
14
0
-3
0
3
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
23
86
25
24
24
158
26
26
40
80
26
21
32
Tax %
26%
26%
26%
18%
25%
25%
25%
26%
16%
25%
26%
36%
24%
Net Profit
24
63
35
33
53
120
14
10
34
67
32
14
25
EPS in Rs
21.95
56.94
31.27
29.99
47.37
108
12.51
8.76
30.46
60.52
28.94
12.2
22.11
Figures in ₹ Crores

Profit & Loss

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
63
89
107
121
93
186
407
170
248
179
184
Expenses
4
5
5
6
5
6
6
12
14
14
25
Operating Profit
59
84
102
115
88
180
401
157
234
165
159
OPM %
94%
95%
95%
95%
95%
97%
99%
93%
94%
92%
86%
Other Income
0
0
0
0
0
0
0
0
21
23
1
Interest
0
0
0
0
0
0
0
0
0
0
0
Depreciation
0
0
0
0
0
0
0
0
0
0
0
PBT
59
84
102
115
88
180
401
157
255
188
160
Tax %
20%
19%
14%
10%
25%
25%
25%
25%
23%
22%
—
Net Profit
48
70
100
106
75
152
332
156
196
147
137
EPS in Rs
43.43
62.66
90.12
95.9
67.77
137
299
140
176
132
124
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
11
11
11
11
11
11
11
11
11
Reserves
847
8,244
8,276
7,101
12,591
19,943
19,399
25,424
31,299
33,000
Borrowings
0
0
0
0
0
0
0
0
0
0
Other Liabilities
2
743
718
600
1,443
2,802
2,629
3,816
3,955
4,191
Total Liabilities
860
8,998
9,005
7,712
14,045
22,756
22,039
29,251
35,265
37,203
Fixed Assets
0
0
0
0
0
0
0
0
0
0
CWIP
0
0
0
0
0
0
0
0
0
0
Investments
531
8,642
8,619
7,279
13,546
22,119
21,102
28,191
34,045
35,849
Other Assets
330
356
387
433
499
637
938
1,060
1,220
1,353
Total Assets
860
8,998
9,005
7,712
14,045
22,756
22,039
29,251
35,265
37,203
Figures in ₹ Crores

Cash Flow

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
32
66
89
103
67
130
298
115
169
140
Investing
-43
-58
-87
-108
-72
-131
-298
-112
-170
-140
Financing
0
0
0
0
0
0
0
0
0
-1
Net Cash Flow
-11
8
2
-4
-5
-1
1
3
-1
-1
Free Cash Flow
32
66
89
103
67
130
298
115
169
140
CFO/OP
74
98
101
100
102
98
100
98
98
110
Figures in ₹ Crores

Ratios

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
13
16
8
3
10
6
2
4
0
4
Cash Conversion Cycle
13
16
8
3
10
6
2
4
0
4
Working Capital Days
74
48
36
35
42
32
14
37
-3
-6
ROCE %
—
2%
1%
2%
1%
1%
2%
1%
1%
1%

Shareholding Pattern

As of Jun 2026
Promoters 66.29%
FIIs 22.28%
Public 6.56%
Others 4.70%
DIIs 0.18%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
61.42%
61.42%
61.42%
66.26%
66.26%
66.26%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
66.29%
FIIs
0.01%
0.01%
0.01%
0.01%
0.00%
0.00%
0.01%
0.01%
0.01%
0.01%
0.00%
0.01%
21.42%
21.51%
21.71%
22.27%
22.62%
22.61%
22.64%
22.89%
22.65%
22.28%
DIIs
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.07%
0.07%
0.07%
0.07%
0.05%
0.05%
0.12%
0.12%
0.11%
0.11%
0.21%
0.30%
0.26%
0.11%
0.09%
0.18%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
7.58%
7.42%
7.40%
7.40%
7.37%
7.36%
7.40%
7.38%
7.34%
7.36%
7.38%
7.35%
7.36%
7.28%
7.14%
6.61%
6.27%
6.19%
6.15%
6.09%
6.29%
6.56%
Others
30.93%
31.10%
31.12%
26.28%
26.31%
26.33%
26.24%
26.26%
26.29%
26.27%
26.29%
26.31%
4.81%
4.81%
4.76%
4.73%
4.61%
4.61%
4.67%
4.62%
4.68%
4.70%
No. of Shareholders
18,134
18,534
18,740
18,876
19,103
19,316
19,688
19,507
19,300
19,478
19,677
20,116
21,673
21,870
21,931
24,726
22,550
23,908
24,754
23,928
25,929
28,192

Documents

Frequently Asked Questions about JSW Holdings Ltd

What does JSW Holdings Ltd do?
JSW Holdings Ltd is a core investment company (CIC) and is primarily engaged in the business of investing and financing.[1]
Where is JSW Holdings Ltd (JSWHL) listed?
JSW Holdings Ltd is listed on the Indian stock exchanges. It is listed on NSE: JSWHL and BSE: 532642. You can view its live share price, financials, and ratios on Tapetide.
Which sector does JSW Holdings Ltd belong to?
JSW Holdings Ltd operates in the Financial Services sector within the Investment Company industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of JSW Holdings Ltd?
JSW Holdings Ltd has a market capitalisation of approximately ₹13267.38 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of JSW Holdings Ltd?
The Price-to-Earnings (PE) ratio of JSW Holdings Ltd is 97.16. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of JSW Holdings Ltd?
Over the past 52 weeks, JSW Holdings Ltd has traded between a low of ₹10,530 and a high of ₹22,790. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of JSW Holdings Ltd?
JSW Holdings Ltd has a Return on Equity (ROE) of 0.44%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research JSW Holdings Ltd on Tapetide?
On Tapetide, you can view JSW Holdings Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

JSW Holdings Ltd is a core investment company (CIC) and is primarily engaged in the business of investing and financing.[1]

Website jswholdings.in
CEO Mr. Manoj Kumar Mohta B.Com, Ca, Icwa
Employees 3
Listed 2005-06-21
Face Value ₹ 10
Issued Size 1,10,99,625

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