JSW Steel Ltd

JSWSTEEL

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Market Cap

₹ 2,72,485 Cr

P/E

44.57

Turned 1 L into 2.96 L in last 5 Years

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Performance

UNDER PERFORMER

Valuation

OVERVALUED

Growth

SLUGGISH

Profitability

LOW MARGIN

Technicals

Bullish

Risk

MODERATE RISK

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Price

PE Ratio

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Overview

Detailed Summary

JSW Steel Limited is a leading integrated steel manufacturer with operations based in India and the USA, specializing in a wide range of steel products, including hot rolled, cold rolled, and galvanized steel.

The company is undergoing significant capacity expansions at its primary facilities, including Vijayanagar and Dolvi, signifying a substantial increase in production capabilities and a strategy to capture more market share domestically and internationally.

JSW Steel is fueling its sustainability initiatives by transitioning to renewable energy, with goals to enhance energy efficiency through advanced technologies like green hydrogen and increased recycling of resources.

The company has formed strategic alliances with global steel leaders JFE Steel and Thyssenkrupp, focusing on elevating its product offerings in high-quality, value-added steel products.

JSW Steel's financial health remains robust, with increased revenues and improved EBITDA margins, lending confidence to its ambitious expansion and sustainability projects planned over the next few years.

Sector

Steel

Industry

Steel - Large

Market Cap

2,72,485 Cr

Volatility

High Risk

P/E Ratio

44.6

Industry P/E

29.5

PEG Ratio

1.0

P/B Ratio

3.3

52W High

1,223.75

52W Low

879.60

Sales CAGR

-3.53%

2.43%

14.72%

10Y

13.50%

Profit CAGR

-61.09%

-29.56%

1.98%

10Y

—

ROE

TTM

7.27%

7.20%

13.17%

10Y

13.58%

ROCE

TTM

9.17%

9.83%

13.53%

1Y Price Target

1192.52 ▲ 10.01%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
JSWSTEEL	1084.00	2,72,485 Cr	44.57	3.29	0.31	7.27	9.17	2.43
TATASTEEL	169.80	2,15,720 Cr	29.29	2.31	2.08	7.17	9.22	2.34
JINDALSTEL	1011.75	1,05,370 Cr	29.30	2.12	0.19	7.25	9.83	3.03
JSL	795.50	65,727 Cr	23.82	3.64	0.38	15.30	16.86	7.08
SAIL	129.80	54,647 Cr	19.63	0.94	1.21	4.39	6.31	1.91
TIINDIA	2618.00	51,247 Cr	81.41	6.82	0.13	8.32	16.22	5.14
APLAPOLLO	1739.00	48,295 Cr	46.04	10.49	0.33	22.77	26.82	12.62

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	42,213	44,584	41,940	46,269	42,943	39,684	41,378	44,819	43,147	45,152
Expenses	35,167	36,698	34,760	40,145	37,433	34,247	35,799	38,441	35,571	38,037
Operating Profit	7,046	7,886	7,180	6,124	5,510	5,437	5,579	6,378	7,576	7,115
OPM %	16.69	17.69	17.12	13.24	12.83	13.70	13.48	14.23	17.56	15.76
Other Income	297	802	178	144	152	-251	50	-57	250	196
Interest	1,963	2,084	1,996	2,062	2,073	2,130	2,115	2,094	2,217	2,413
Depreciation	1,900	2,019	2,059	2,194	2,209	2,267	2,336	2,497	2,537	2,554
Profit Before Tax	3,480	4,585	3,303	2,012	1,380	789	1,178	1,730	3,072	2,344
Tax %	30.23	39.52	25.83	34.29	37.17	48.80	38.96	13.24	28.09	29.78
Net Profit	2,428	2,773	2,450	1,322	867	404	719	1,501	2,209	1,646
EPS in Rs	9.56	11.33	9.88	5.31	3.45	1.80	2.93	6.14	8.93	6.64

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	60,536	71,503	84,757	73,326	79,839	1,46,371	1,65,960	1,75,006	1,68,824	1,69,028
Expenses	43,430	55,431	65,805	61,453	59,698	1,07,364	1,47,413	1,46,770	1,45,920	1,44,058
Operating Profit	17,106	16,072	18,952	11,873	20,141	39,007	18,547	28,236	22,904	24,970
OPM %	28.26	22.48	22.36	16.19	25.23	26.65	11.18	16.13	13.57	14.77
Other Income	152	-97	174	-349	510	1,707	1,484	1,421	-106	-8.00
Interest	3,768	3,701	3,917	4,265	3,957	4,968	6,902	8,105	8,412	8,556
Depreciation	3,430	3,387	4,041	4,246	4,679	6,001	7,474	8,172	9,309	9,637
Profit Before Tax	5,128	7,609	11,168	3,013	12,015	29,745	5,655	13,380	5,077	6,769
Tax %	32.64	20.21	32.63	-30.07	34.47	29.61	26.81	32.94	31.24	28.60
Net Profit	3,454	6,071	7,524	3,919	7,873	20,938	4,139	8,973	3,491	4,833
EPS in Rs	14.64	25.46	31.25	16.47	32.33	84.50	16.92	36.08	14.32	24.64
Dividend Payout %	15.43	12.45	12.97	12.00	19.86	20.29	19.84	20.18	19.55	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	303	301	302	301	301	302	301	301	305	305
Reserves	20,577	22,346	27,696	34,494	36,298	46,462	66,996	65,394	77,364	79,191
Borrowings	35,936	37,297	33,900	35,989	55,048	54,074	72,237	80,853	87,984	98,752
Other Liabilities	25,479	28,145	30,120	44,130	40,173	47,479	56,951	64,530	62,545	62,494
Total Liabilities	82,295	88,089	92,018	1,14,914	1,31,820	1,48,317	1,96,485	2,11,078	2,28,198	2,40,742
Fixed Assets	53,855	58,730	57,848	62,644	61,861	64,658	99,700	1,04,366	1,12,321	1,24,303
CWIP	6,904	4,363	5,950	11,889	27,191	32,566	16,905	22,166	29,676	21,007
Investments	618	1,366	1,469	1,894	1,483	8,840	5,120	4,892	7,386	15,380
Other Assets	20,918	23,630	26,751	38,487	41,285	42,253	74,760	79,654	78,815	80,052
Total Assets	82,295	88,089	92,018	1,14,914	1,31,820	1,48,317	1,96,485	2,11,078	2,28,198	2,40,742

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	6,704	7,888	12,379	14,633	12,785	18,789	26,270	23,323	12,078	20,899
Cash from Investing Activity	-4,280	-5,094	-4,529	-11,390	-19,583	-7,699	-14,745	-10,711	-14,460	-16,997
Cash from Financing Activity	-2,775	-2,710	-8,185	1,753	5,189	-3,110	-14,657	-5,977	-5,005	-262
Net Cash Flow	-352	84	-335	4,996	-1,609	7,980	-3,132	6,635	-7,387	3,640

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	45.45%	45.65%	45.64%	44.99%	44.99%	44.97%	44.96%	44.95%	44.95%	44.93%	45.42%	45.37%
FIIs	26.18%	26.15%	26.12%	26.24%	26.43%	26.15%	25.60%	25.72%	25.64%	25.82%	25.48%	25.58%
DIIs	9.91%	10.04%	10.16%	10.06%	10.03%	10.37%	11.08%	11.07%	11.13%	11.05%	11.45%	11.40%
Public	18.45%	18.16%	18.08%	18.71%	18.54%	18.51%	18.36%	18.26%	18.28%	18.19%	17.65%	17.65%
Total Shareholders	6,08,448	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

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 15, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1,117.70	0.01 Cr	122	0.00
Dec 15, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1,125.20	0.00 Cr	40	0.00
Dec 15, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1,126.09	0.68 Cr	6,012	0.00
Dec 15, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1,100.64	0.12 Cr	1,075	0.00
Dec 15, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1,101.46	0.08 Cr	682	0.00
Dec 15, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1.00	0.00 Cr	9,486	0.00
Dec 15, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1.00	0.00 Cr	13,167	0.00
Dec 15, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1,095.05	0.07 Cr	607	0.00
Dec 15, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1,099.00	0.65 Cr	5,896	0.00
Dec 10, 2025	Jsw steel employees welfare t...	Insider - Other	Disposal	1.00	0.00 Cr	2,919	0.00

Projection

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Announcements

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Sentiment

Credit Rating

13 hours ago

JSW Steel Credit Rating Update

India Ratings places JSW Steel's Long-Term Issuer Rating and Non-Convertible Debentures on 'Rating Watch with Positive Implications.'...

Credit Rating

4 days ago

JSW Steel's Credit Rating Action by ICRA

ICRA Limited has placed the 'AA' stable ratings of JSW Steel Limited's Long Term Bank Facilities and Non-Convertible Debentures on "Rating Watch with Positive Implications."...

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

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Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

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Jswsteel

JSW Steel Ltd

JSWSTEEL

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Investment Checklist

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

52W Low

Technicals

Oscillators

Neutral

Overall

Bullish

Moving Averages

Bullish

Overall

Bullish

Forecasts

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1192.52 ▲ 10.01%

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

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Actions

Announcements

Documents

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Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

52W Low

Investment Checklist

Peers

Price Chart Comparison

Announcements