JSW Steel Ltd logo

JSW Steel Ltd

JSWSTEEL NSE

JSW Steel is primarily engaged in the business of manufacture and sale of Iron and Steel Products.[1] It is the flagship business of the diversified, US$ 23 billion JSW Group.The Group has interests in energy, infrastructure, cement, paints, sports, and venture capital.[2]

AI Verdict: BUY Confidence: 6%

JSW Steel trades at a PE of 12.4x with TTM profit growth of 134% and strong analyst support (57.6% Buy ratings). While the 3-year ROE of ~9% is below par and the stock trades at 3.15x book, the earnings recovery trajectory and 10-year sales CAGR of 16% support a cautious accumulation stance.

Key Fundamentals

LargecapIron & SteelMetals & Mining
Market Cap
3.0L Cr
Volatility
Moderate
P/E Ratio
13.49
EBITDA
₹25,913 Cr
Return on Equity
11.25%
Debt to Equity
1.19
Book Value
₹408.89
EPS
₹28.47
52W High
₹1,328
52W Low
₹1,001.3

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 19.8%

Weaknesses

3
  • Stock is trading at 3.01 times its book value
  • Company has a low return on equity of 8.93% over last 3 years.
  • Earnings include an other income of Rs.18,607 Cr.

Growth Rate

Revenue Growth
7.39% ↘
Net Income Growth
629.05% ↘
Cash Flow Change
73.03% ↗
ROE
-62.04% ↘
ROCE
-43.47% ↘
EBITDA Margin (Avg.)
-7.26% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
BUY
Risk high

JSW Steel trades at a PE of 12.4x with TTM profit growth of 134% and strong analyst support (57.6% Buy ratings). While the 3-year ROE of ~9% is below par and the stock trades at 3.15x book, the earnings recovery trajectory and 10-year sales CAGR of 16% support a cautious accumulation stance.

Bull Case 7
  • TTM compounded profit growth of 134% signals a sharp earnings recovery cycle
  • PE ratio of 12.4x is reasonable for a large-cap steel producer with Rs 3,15,072 Cr market cap
  • 57.58% of 33 analysts rate the stock a Buy, reflecting broad institutional confidence
  • 10-year stock CAGR of 25% demonstrates consistent long-term wealth creation
  • 10-year compounded sales growth of 16% reflects successful capacity expansion strategy
  • Healthy dividend payout ratio of 19.8% provides income support with 0.55% yield
  • 1-year stock CAGR of 28% shows strong near-term momentum and re-rating potential
Bear Case 8
  • 3-year average ROE of only 9% (last year 10%) is subpar for a capital-intensive business trading at 3.15x book
  • Stock trading at 3.15x price-to-book is expensive for a cyclical steel company
  • Other income of Rs 18,607 Cr inflates reported earnings and masks core operating performance
  • 5-year compounded profit CAGR of just 3% highlights the deep cyclicality and inconsistent earnings
  • 18.18% of analysts rate the stock a Sell, indicating meaningful disagreement on valuation
  • 3-year sales CAGR of only 4% suggests recent volume/price growth has stalled
  • Dividend yield of 0.55% offers minimal income cushion during potential price corrections
  • Debt-to-equity data unavailable but JSW Steel is known to carry significant leverage for expansion capex

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

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 8
  • ₹65,000 cr Odisha greenfield plant May 27

    JSW Steel commenced construction of a 13.2 MTPA integrated steel plant at Paradeep, Odisha on ~2,950 acres with initial phase targeted within 36 months, potentially adding 40%+ to domestic capacity.

  • Q4FY26 EBITDA up 35.4% YoY Jun 17

    EBITDA rose to ₹8,634 crore with margin improving to 16.9% from 14.2%; revenue up 14.2% YoY to ₹51,180 crore. Motilal Oswal reiterated Buy with ₹1,520 target (~19% upside).

  • 50 MTPA capacity target by FY31 Jun 17

    JSW Steel plans ₹1.3 trillion investment over 4-5 years covering Dolvi expansion to 15 MTPA (Sept 2027), 5 MTPA Utkal greenfield (FY30), and 1 MTPA Kadapa EAF (FY29), scaling from 32 MTPA currently.

  • May crude steel output up 15% Jun 9

    Consolidated crude steel production reached 22.93 lakh tonnes in May 2026, up 15% YoY driven by full Dolvi operations and JVML ramp-up; Indian capacity utilization at ~98% excluding BF3.

  • ₹37,250 cr BPSL stake monetization May 27

    JSW Steel received ₹24,283 crore cash from BPSL slump sale plus ₹7,875 crore from JFE in two tranches, with ₹5,000 crore debt transfer, totaling ₹37,250 crore benefit to fund expansion.

  • FY26 dividend of ₹7.10/share Jun 9

    Board recommended final dividend of ₹7.10 per share for FY26 with record date set for July 7, 2026.

  • Goa iron ore block win May 27

    JSW Steel declared preferred bidder for Pissurlem mineral block in Goa with 96 million tonnes estimated iron ore resource at 118.10% of mineral dispatch value.

  • CoC nod for Colour Roof plan May 29

    JSW Steel Coated Products received Committee of Creditors approval for its resolution plan for Colour Roof India Ltd, subject to NCLT Mumbai approval.

Neutral 5
  • ₹19.86 cr block trade on NSE Jun 22

    Approximately 155,148 shares traded in a single block deal at ₹1,280.20 per share, totaling ₹19.86 crores, indicating institutional participation.

  • BF3 Vijayanagar shutdown for upgrade Jun 9

    Blast Furnace 3 at Vijayanagar taken offline for capacity expansion with planned restart in mid-June 2026; a scheduled maintenance activity.

  • Green methanol MoU signed May 26

    JSW Steel signed MoU with Bharatia and Carbon Iceland for a 300 KTPA eMethanol project in Raigad, Maharashtra to convert CO2 emissions using green hydrogen, targeting 42% CO2 reduction by 2030.

  • Merger hearing set June 19 May 25

    NCLT hearing scheduled for June 19, 2026 for JSW Steel's amalgamation scheme with Amba River Coke, Monnet Cement, and JSW Retail.

  • Investor presentation uploaded Jun 4

    JSW Steel filed a new investor presentation under Regulation 30 of Listing Regulations on its website.

TL;DR: JSW Steel is in an aggressive expansion phase backed by strong Q4FY26 results (EBITDA +35.4% YoY, margins at 16.9%) and ₹37,250 crore inflows from the BPSL monetization. The company has launched its ₹65,000 crore Paradeep greenfield project and targets 50 MTPA by FY31 from 32 MTPA today. No material headwinds are visible in recent news flow, though execution risk on ₹1.3 trillion capex and input cost volatility remain latent concerns. The trend is clearly improving with production growth, margin expansion, and strong institutional confidence.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
46,962
42,213
44,584
41,940
46,269
42,943
39,684
41,378
44,819
43,147
45,152
45,991
51,180
Expenses
39,031
35,201
36,722
34,776
40,243
37,445
34,309
35,799
38,684
35,671
38,125
39,612
42,716
Operating Profit
7,931
7,012
7,862
7,164
6,026
5,498
5,375
5,579
6,135
7,476
7,027
6,379
8,464
OPM %
17%
17%
18%
17%
13%
13%
14%
13%
14%
17%
16%
14%
17%
Other Income
465
331
826
194
242
164
-189
50
186
350
284
-256
18,229
Interest
2,138
1,963
2,084
1,996
2,062
2,073
2,130
2,115
2,094
2,217
2,413
2,304
2,168
Depreciation
2,009
1,900
2,019
2,059
2,194
2,209
2,267
2,336
2,497
2,537
2,554
2,362
2,148
PBT
4,249
3,480
4,585
3,303
2,012
1,380
789
1,178
1,730
3,072
2,344
1,457
22,377
Tax %
12%
30%
40%
26%
34%
37%
49%
39%
13%
28%
30%
-65%
14%
Net Profit
3,741
2,428
2,773
2,450
1,322
867
404
719
1,501
2,209
1,646
2,410
19,243
EPS in Rs
15.16
9.67
11.29
9.88
5.31
3.46
1.8
2.93
6.15
8.93
6.64
8.75
66.94
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
52,972
41,546
55,604
71,933
84,757
73,326
79,839
1,46,371
1,65,960
1,75,006
1,68,824
1,85,470
Expenses
43,608
35,124
43,296
57,017
65,827
61,513
59,661
1,07,257
1,47,490
1,46,849
1,46,099
1,56,124
Operating Profit
9,364
6,422
12,308
14,916
18,930
11,813
20,178
39,114
18,470
28,157
22,725
29,346
OPM %
18%
15%
22%
21%
22%
16%
25%
27%
11%
16%
13%
16%
Other Income
103
-1,966
18
-177
196
-289
473
1,600
1,561
1,500
73
18,607
Interest
3,493
3,601
3,768
3,701
3,917
4,265
3,957
4,968
6,902
8,105
8,412
9,102
Depreciation
3,434
3,323
3,430
3,387
4,041
4,246
4,679
6,001
7,474
8,172
9,309
9,601
PBT
2,539
-2,468
5,128
7,651
11,168
3,013
12,015
29,745
5,655
13,380
5,077
29,250
Tax %
32%
-80%
33%
20%
33%
-30%
34%
30%
27%
33%
31%
13%
Net Profit
1,722
-481
3,467
6,113
7,524
3,919
7,873
20,938
4,139
8,973
3,491
25,508
EPS in Rs
7.43
-1.39
14.57
25.71
31.6
16.67
32.73
85.49
17.14
36.03
14.33
91.26
Div. Payout %
19%
-67%
19%
16%
16%
15%
25%
25%
25%
25%
24%
10%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
303
301
301
302
301
301
302
301
301
305
305
305
Reserves
21,987
18,665
22,346
27,696
34,494
36,298
45,308
66,996
65,394
77,364
79,191
99,748
Borrowings
38,754
42,204
43,334
39,393
47,396
61,423
66,727
72,237
80,853
87,984
98,752
99,310
Other Liabilities
24,610
20,737
22,024
24,579
32,606
33,798
34,826
56,951
63,991
62,245
62,197
70,313
Total Liabilities
85,654
81,907
88,005
91,970
1,14,797
1,31,820
1,47,163
1,96,485
2,10,539
2,27,898
2,40,445
2,69,676
Fixed Assets
52,176
56,140
58,730
57,848
62,644
62,085
64,917
99,880
1,04,452
1,12,461
1,24,466
1,17,552
CWIP
8,265
7,271
4,363
5,950
11,889
27,191
32,566
16,905
22,166
29,676
21,007
21,892
Investments
599
1,195
1,366
1,469
1,894
1,259
7,427
4,940
4,806
7,246
15,217
10,218
Other Assets
24,613
17,302
23,546
26,703
38,370
41,285
42,253
74,760
79,115
78,515
79,755
1,20,014
Total Assets
85,654
81,907
88,005
91,970
1,14,797
1,31,820
1,47,163
1,96,485
2,10,539
2,27,898
2,40,445
2,69,676
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
7,876
6,897
7,888
12,379
14,633
12,785
18,831
26,270
23,323
12,078
20,899
25,152
Investing
-7,372
-3,857
-5,094
-4,529
-11,387
-19,589
-9,410
-14,748
-10,730
-14,467
-17,012
18,690
Financing
-169
-3,151
-2,710
-8,185
1,753
5,189
-1,444
-14,657
-5,977
-5,005
-262
-16,111
Net Cash Flow
334
-111
84
-335
4,999
-1,615
7,977
-3,135
6,616
-7,394
3,625
27,731
Free Cash Flow
1,362
1,736
3,498
7,703
4,471
18
7,916
16,222
8,574
-3,469
8,264
10,610
CFO/OP
92
111
66
93
91
118
103
81
130
53
101
97
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
17
24
27
24
31
22
21
19
16
16
18
22
Inventory Days
136
135
147
118
123
130
160
208
130
151
142
124
Days Payable
175
207
172
149
137
169
171
190
149
133
132
55
Cash Conversion Cycle
-23
-48
2
-7
17
-17
9
36
-4
33
28
91
Working Capital Days
-58
-105
-66
-36
-63
-96
-93
-24
-50
-29
-19
-14
ROCE %
10%
5%
14%
18%
20%
9%
15%
28%
8%
13%
8%
11%

Shareholding Pattern

As of Mar 2026
Promoters 45.32%
FIIs 25.38%
DIIs 11.15%
Others 10.52%
Public 7.12%
Government 0.51%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
44.07%
44.07%
44.09%
44.72%
45.01%
45.02%
45.19%
45.19%
45.40%
45.40%
44.80%
44.81%
44.81%
44.81%
44.84%
44.85%
44.84%
45.31%
45.32%
45.32%
45.32%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
15.00%
15.00%
15.00%
26.13%
15.00%
26.06%
25.52%
25.66%
25.59%
25.78%
25.43%
25.55%
25.38%
25.38%
DIIs
7.10%
7.16%
8.06%
8.37%
7.93%
9.07%
9.20%
9.34%
9.48%
9.60%
9.51%
9.48%
9.82%
10.53%
10.54%
10.59%
10.52%
10.92%
10.87%
11.05%
11.15%
Government
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
0.51%
Public
8.30%
8.24%
8.08%
8.15%
8.02%
7.93%
7.75%
7.44%
7.33%
7.26%
7.40%
7.22%
7.31%
7.14%
7.14%
7.17%
7.11%
7.04%
7.08%
7.12%
7.12%
Others
40.01%
40.02%
39.27%
38.24%
38.52%
37.47%
37.35%
22.51%
22.28%
22.22%
11.66%
22.99%
11.50%
11.50%
11.31%
11.29%
11.25%
10.80%
10.67%
10.63%
10.52%
No. of Shareholders
0
5,63,119
6,57,659
6,86,724
6,79,906
6,59,879
6,94,916
6,67,169
6,05,019
5,86,997
6,63,179
6,41,582
6,71,779
6,35,680
6,32,249
6,35,890
6,21,932
6,17,339
6,10,303
6,05,301
6,03,274

Documents

Frequently Asked Questions about JSW Steel Ltd

What does JSW Steel Ltd do?
JSW Steel is primarily engaged in the business of manufacture and sale of Iron and Steel Products.[1] It is the flagship business of the diversified, US$ 23 billion JSW Group.The Group has interests in energy, infrastructure, cement, paints, sports, and venture capital.[2]
Where is JSW Steel Ltd (JSWSTEEL) listed?
JSW Steel Ltd is listed on the Indian stock exchanges. It is listed on NSE: JSWSTEEL and BSE: 500228. You can view its live share price, financials, and ratios on Tapetide.
Which sector does JSW Steel Ltd belong to?
JSW Steel Ltd operates in the Commodities sector within the Ferrous Metals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of JSW Steel Ltd?
JSW Steel Ltd has a market capitalisation of approximately ₹301451.11 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of JSW Steel Ltd?
The Price-to-Earnings (PE) ratio of JSW Steel Ltd is 13.49. 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 Steel Ltd?
Over the past 52 weeks, JSW Steel Ltd has traded between a low of ₹1,001.3 and a high of ₹1,328. This range helps investors understand the stock's price volatility and recent trading levels.
Does JSW Steel Ltd pay dividends?
Yes, JSW Steel Ltd has a dividend yield of 0.58%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of JSW Steel Ltd?
JSW Steel Ltd has a Return on Equity (ROE) of 11.25%. 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 Steel Ltd on Tapetide?
On Tapetide, you can view JSW Steel 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 Steel is primarily engaged in the business of manufacture and sale of Iron and Steel Products.[1] It is the flagship business of the diversified, US$ 23 billion JSW Group.The Group has interests in energy, infrastructure, cement, paints, sports, and venture capital.[2]

Website jsw.in
CEO Mr. Sajjan Kumar Jindal B.E.
Employees 15,793
Listed 2005-03-23
Face Value ₹ 1
Issued Size 2,44,54,53,966

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