JSW Steel Limited
NSE: JSWSTEEL · Iron & Steel · sector
₹1,260.00NSE close 2026-10-26
Key numbers
Market cap₹3,07,440 cr
Price₹1,260.00
52w high / low₹1,351 / ₹1,073
P/E12.4xSector median 16.4x
P/B3.1xSector median 2.1x
Book value₹410.1
Dividend yield0.22%Sector median 0.39%
ROE27.6%Sector median 9.1%
ROCE21.2%Sector median 10.1%
OPM25.8%Sector median 12.4%
Debt / equity0.95xSector median 0.35x
EV/EBITDA7.4xSector median 8.1x
Interest cover4.8x
Current ratio1.49x
Sales growth 3y+3.8%Sector median +1.5%
Profit growth 3y+75.3%Sector median +15.7%
PEG0.16x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 14 companies in Iron & Steel (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹41,507 cr vs borrowings ₹95,532 cr (FY26): borrowings are higher by ₹54,025 cr.
- Operating profit covered interest 4.8x in the last 12 months.
- 11.55% of the promoters' shares are pledged (5.1% of all shares).
- Promoter holding fell by 1.02 percentage points in a year, to 44.30% (2026-09-30).
- Operating cash flow was below net profit in 0 of the last 5 years.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 7% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹1,260.00 on 2026-10-26: -6.7% from the 52-week high, +17.4% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,341.00 · low ₹900.10
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 39,684 | 41,378 | 44,819 | 43,147 | 45,152 | 45,991 | 51,180 | 47,364 |
| EBITDA | 5,095 | 5,476 | 6,334 | 7,576 | 7,115 | 5,967 | 26,522 | 9,383 |
| OPM % | 12.8% | 13.2% | 14.1% | 17.6% | 15.8% | 13.0% | 51.8% | 19.8% |
| Other income | 153 | 147 | 230 | 350 | 284 | 273 | 341 | 724 |
| Net profit | 439 | 717 | 1,503 | 2,184 | 1,623 | 2,139 | 16,370 | 4,651 |
| EPS (₹) | 1.80 | 2.94 | 6.15 | 8.95 | 6.66 | 8.76 | 67.07 | 19.05 |
| Revenue YoY | +13.8% | +11.1% | +14.2% | +9.8% | ||||
| Profit YoY | +269.7% | +198.3% | +989.2% | +113.0% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,46,371 | 1,65,960 | 1,75,006 | 1,68,824 | 1,85,470 | 1,89,687 |
| EBITDA | 38,266 | 19,138 | 28,825 | 22,415 | 47,180 | 48,987 |
| Net profit | 20,665 | 4,144 | 8,812 | 3,504 | 22,316 | 24,783 |
| EPS (₹) | 85.96 | 17.25 | 36.34 | 14.36 | 91.43 | 101.54 |
| Revenue growth | +13.4% | +5.5% | -3.5% | +9.9% | +12.2% | |
| Profit growth | -79.9% | +112.6% | -60.2% | +536.9% | +411.7% | |
| Dividend / share (₹) | 6.50 | 17.35 | 3.40 | 7.30 | 2.80 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +3.8% | +18.4% | +12.2% |
| Net profit | +75.3% | +23.0% | +411.7% |
| EPS | +74.4% | +22.7% | – |
| Share price | – | +11.6% (2y) | +6.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 65,695 | 77,669 | 79,496 | 1,00,053 |
| Borrowings | – | 78,572 | 85,575 | 95,957 | 95,532 |
| Cash & equivalents | – | 20,719 | 12,351 | 19,104 | 41,507 |
| Total assets | – | 2,11,078 | 2,28,198 | 2,40,742 | 2,69,676 |
| Fixed assets | – | 97,699 | 1,05,123 | 1,16,814 | 1,09,532 |
| Capital work in progress | – | 21,921 | 29,216 | 20,478 | 21,892 |
| Investments | – | 10,249 | 5,534 | 5,709 | 5,123 |
| Receivables | – | 7,134 | 7,548 | 8,415 | 11,260 |
| Inventory | – | 33,135 | 37,815 | 34,956 | 32,765 |
| Payables | – | 38,203 | 33,365 | 32,552 | 14,666 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 26,270 | 23,323 | 12,078 | 20,899 | 25,152 |
| Cash from investing | -14,745 | -10,711 | -14,638 | -16,997 | 18,602 |
| Cash from financing | -14,657 | -5,977 | -4,827 | -262 | -16,111 |
| Capex | 10,091 | 14,324 | 15,801 | 12,694 | 14,654 |
| Free cash flow | 16,179 | 8,999 | -3,723 | 8,205 | 10,498 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 6.3% | 11.3% | 4.4% | 22.3% |
| ROCE % | – | 8.8% | 13.3% | 7.9% | 19.9% |
| Debtor days | – | 16 | 16 | 18 | 22 |
| Inventory days | – | 130 | 151 | 142 | 124 |
| Payable days | – | 149 | 133 | 132 | 55 |
| Cash conversion cycle (days) | – | -3 | 34 | 28 | 91 |
| Working capital days | – | -4 | -3 | 22 | 67 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 44.30% |
| FIIs | 26.23% |
| DIIs | 11.34% |
| of which Mutual funds | 5.89% |
| of which Insurance | 5.23% |
| Government | 0.51% |
| Public (non-institutions) | 17.49% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 44.85% | 44.84% | 45.31% | 45.32% | 45.32% | 45.32% | 44.29% | 44.30% |
| Promoter group | % |
|---|---|
| JSW Techno Projects Management Ltd | 10.82% |
| JSW Holdings Limited | 7.42% |
| Vividh Finvest Private Limited | 5.86% |
| Sahyog Holdings Private Limited | 4.58% |
| Siddeshwari Tradex Private Limited | 3.46% |
| JTPM Metal Traders Limited | 3.40% |
| Virtuous Tradecorp Private Limited | 2.47% |
| Nalwa Sons Investments Ltd | 1.86% |
| JSW Energy Limited | 1.84% |
| JSL Overseas Limited | 0.86% |
| Karnataka State Industrial& Infrastructure Development Corporation Limited | 0.37% |
| Tarini Jindal Handa | 0.20% |
| Tanvi Shete | 0.20% |
| Estrela Investment Company Limited | 0.17% |
| Nacho Investments Limited | 0.17% |
| Public holders above 1% | % |
|---|---|
| JFE Steel International Europe B.V. | 15.00% |
| Life Insurance Corporation of India | 4.65% |
| Gagandeep Credit Capital PVT Ltd | 2.03% |
| SBI ESG Exclusionary Strategy Fund | 1.68% |
| Enam Securities PVT Ltd | 1.14% |
| Shamyak Investment Private Limited | 1.09% |
| HDFC Trustee Company Limited-hdfc Flexi CAP Fund | 1.02% |
6,20,717 shareholders. Pledged: 11.55% of promoter shares.
Peers in Iron & Steel
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | ₹3,07,440 cr | 12.4x | 3.1x | 27.6% | 21.2% | 25.8% | +3.8% | 0.22% |
| TATASTEEL | ₹2,11,990 cr | 19.2x | 2.1x | 11.4% | 12.1% | 14.6% | -1.6% | 2.12% |
| JINDALSTEL | ₹1,05,841 cr | 38.9x | 2.1x | 5.5% | 7.4% | 15.0% | +0.3% | 0.20% |
| SAIL | ₹70,136 cr | 16.4x | 1.2x | 7.2% | 8.0% | 11.3% | +2.0% | 0.94% |
| JSL | ₹56,775 cr | 17.0x | 2.7x | 17.0% | 17.8% | 12.4% | +6.4% | 0.43% |
| SARDAEN | ₹15,738 cr | 13.9x | 2.1x | 16.6% | 17.6% | 32.4% | +10.6% | 0.34% |
| NSLNISP | ₹11,300 cr | 124.4x | 0.9x | 0.6% | 3.3% | 10.8% | – | – |
| SANDUMA | ₹7,632 cr | 10.7x | 2.3x | 24.4% | 25.5% | 22.9% | – | 0.27% |
| JAIBALAJI | ₹5,738 cr | 39.8x | 2.5x | 6.6% | 10.1% | 6.0% | -1.9% | – |
| VISL | ₹5,238 cr | – | – | – | – | – | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-07 | Dividend | Dividend - Rs 7.10 Per Share |
| 2025-07-08 | Dividend | Dividend - Rs 2.80 Per Share |
| 2024-07-09 | Dividend | Annual General Meeting/Dividend - Rs 7.30 Per Share |
| 2023-07-11 | Dividend | Annual General Meeting/Dividend - Rs 3.40 Per Share |
| 2022-07-04 | Dividend | Annual General Meeting/Dividend - Rs 17.35 Per Share |
| 2021-07-05 | Dividend | Annual General Meeting/Dividend - Rs 6.50 Per Share |
| 2020-07-06 | Dividend | Dividend - Rs 2 Per Share |
| 2019-07-08 | Dividend | Annual General Meeting/Dividend Rs 4.10 Per Share |
| 2018-07-06 | Dividend | Annual General Meeting / Dividend- Rs 3.20 Per Share |
| 2017-06-12 | Dividend | Annual General Meeting/Dividend - Rs 2.25/- Per Share |
| 2017-01-04 | Other | Fv Splt Frm Rs 10 To Re 1 |
| 2016-07-04 | Dividend | Annual General Meeting/ Dividend - Rs 7.50/- Per Share |
| 2015-07-06 | Dividend | Annual General Meeting/ Dividend - Rs 11/- Per Share |
| 2014-07-07 | Dividend | Annual General Meeting / Dividend - Rs 11/- Per Share |
| 2013-07-15 | Dividend | Annual General Meeting / Dividend - Rs.10/- Per Equity Share |
| 2012-07-12 | Dividend | Annual General Meeting / Dividend - Rs. 7.50 Per Share |
| 2011-07-11 | Dividend | Annual General Meeting And Dividend Rs.12.25 Per Share |
| 2010-06-14 | Dividend | Agm/Dividend Rs 9.50 Per Share |
| 2009-06-29 | Other | Agm/Div-Re.1/- Per Share |
| 2008-05-21 | Dividend | Agm/Dividend - 140% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacture of Iron and Steel: Manufacturing
| Sector | Commodities |
| Industry | Iron & Steel |
| Sub-industry | Iron & Steel |
| Symbol | JSWSTEEL |
| BSE code | 500228 |
| ISIN | INE019A01038 |
| Face value | ₹1.0 |
| Incorporated | 1994-03-15 |
| Website | www.jsw.in |
| Plants (India / abroad) | 18 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.