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Last Updated: April 2, 2026, 3:10 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500228 | NSE: JSWSTEEL

JSW Steel Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:10 am

Market Cap 2,78,880 Cr.
Current Price 1,140
Intrinsic Value₹390.09
High / Low 1,285/905
Stock P/E35.7
Book Value 339
Dividend Yield0.25 %
ROCE8.11 %
ROE4.94 %
Face Value 1.00
PEG Ratio-1.91

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for JSW Steel Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
JSW Steel Ltd 2,78,880 Cr. 1,140 1,285/90535.7 3390.25 %8.11 %4.94 % 1.00
Tata Steel Ltd 2,42,929 Cr. 195 216/12424.8 76.11.85 %8.83 %3.89 % 1.00
Steel Authority of India Ltd 64,362 Cr. 156 168/10121.2 1411.03 %6.76 %4.54 % 10.0
Shyam Metalics & Energy Ltd 22,247 Cr. 797 1,001/73722.9 3950.56 %12.0 %8.99 % 10.0
Technocraft Industries (India) Ltd 5,111 Cr. 2,254 3,392/1,86818.6 8310.89 %15.8 %14.5 % 10.0
Industry Average47,622.23 Cr296.8422.32160.060.39%8.78%7.09%7.50

All Competitor Stocks of JSW Steel Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 39,13446,96242,21344,58441,94046,26942,94339,68441,37844,81943,14745,15245,991
Expenses 34,64339,03135,20136,72234,77640,24337,44534,30935,79938,68435,67138,12539,612
Operating Profit 4,4917,9317,0127,8627,1646,0265,4985,3755,5796,1357,4767,0276,379
OPM % 11%17%17%18%17%13%13%14%13%14%17%16%14%
Other Income 188465331826194242164-18950186350284-256
Interest 1,8192,1381,9632,0841,9962,0622,0732,1302,1152,0942,2172,4132,304
Depreciation 1,8822,0091,9002,0192,0592,1942,2092,2672,3362,4972,5372,5542,362
Profit before tax 9784,2493,4804,5853,3032,0121,3807891,1781,7303,0722,3441,457
Tax % 52%12%30%40%26%34%37%49%39%13%28%30%-65%
Net Profit 4743,7412,4282,7732,4501,3228674047191,5012,2091,6462,410
EPS in Rs 2.0315.169.6711.299.885.313.461.802.936.158.936.648.75

Last Updated: February 5, 2026, 9:37 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 4:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 51,22052,97241,54655,60471,93384,75773,32679,839146,371165,960175,006168,824179,109
Expenses 42,05143,60835,12443,29657,01765,82761,51359,661107,257147,490146,849146,099152,092
Operating Profit 9,1699,3646,42212,30814,91618,93011,81320,17839,11418,47028,15722,72527,017
OPM % 18%18%15%22%21%22%16%25%27%11%16%13%15%
Other Income -1,630103-1,96618-177196-2894731,6001,5611,50073564
Interest 3,0483,4933,6013,7683,7013,9174,2653,9574,9686,9028,1058,4129,028
Depreciation 3,1833,4343,3233,4303,3874,0414,2464,6796,0017,4748,1729,3099,950
Profit before tax 1,3082,539-2,4685,1287,65111,1683,01312,01529,7455,65513,3805,0778,603
Tax % 70%32%-80%33%20%33%-30%34%30%27%33%31%
Net Profit 4021,722-4813,4676,1137,5243,9197,87320,9384,1398,9733,4917,766
EPS in Rs 1.877.43-1.3914.5725.7131.6016.6732.7385.4917.1436.0314.3330.47
Dividend Payout % 74%19%-67%19%16%16%15%25%25%25%25%24%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)328.36%-127.93%820.79%76.32%23.08%-47.91%100.89%165.95%-80.23%116.79%-61.09%
Change in YoY Net Profit Growth (%)0.00%-456.29%948.72%-744.47%-53.24%-71.00%148.81%65.05%-246.18%197.02%-177.89%

JSW Steel Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:12%
5 Years:18%
3 Years:5%
TTM:-4%
Compounded Profit Growth
10 Years:8%
5 Years:-3%
3 Years:-43%
TTM:-27%
Stock Price CAGR
10 Years:28%
5 Years:31%
3 Years:16%
1 Year:16%
Return on Equity
10 Years:15%
5 Years:14%
3 Years:7%
Last Year:5%

Last Updated: September 5, 2025, 8:30 am

Balance Sheet

Last Updated: December 10, 2025, 2:55 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 303303301301302301301302301301305305305
Reserves 20,87121,98718,66522,34627,69634,49436,29845,30866,99665,39477,36479,19182,628
Borrowings 35,52738,75442,20443,33439,39347,39661,42366,72772,23780,85387,98498,752101,107
Other Liabilities 20,93924,61020,73722,02424,57932,60633,79834,82656,95163,99162,24562,19766,395
Total Liabilities 77,64085,65481,90788,00591,970114,797131,820147,163196,485210,539227,898240,445250,435
Fixed Assets 47,04652,17656,14058,73057,84862,64462,08564,91799,880104,452112,461124,466126,324
CWIP 9,4008,2657,2714,3635,95011,88927,19132,56616,90522,16629,67621,00720,544
Investments 6635991,1951,3661,4691,8941,2597,4274,9404,8067,24615,21715,606
Other Assets 20,53124,61317,30223,54626,70338,37041,28542,25374,76079,11578,51579,75587,961
Total Assets 77,64085,65481,90788,00591,970114,797131,820147,163196,485210,539227,898240,445250,435

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 2,5947,8766,8977,88812,37914,63312,78518,83126,27023,32312,07820,899
Cash from Investing Activity + -5,618-7,372-3,857-5,094-4,529-11,387-19,589-9,410-14,748-10,730-14,467-17,012
Cash from Financing Activity + 3,300-169-3,151-2,710-8,1851,7535,189-1,444-14,657-5,977-5,005-262
Net Cash Flow 276334-11184-3354,999-1,6157,977-3,1356,616-7,3943,625
Free Cash Flow -3,1511,3621,7363,4987,7034,471187,91616,2228,574-3,4698,264
CFO/OP 33%92%111%66%93%91%118%103%81%130%53%101%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-26.00-29.00-36.00-31.00-25.00-29.00-50.00-46.00-33.00-62.00-59.00-76.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 161724272431222119161618
Inventory Days 98136135147118123130160208130151142
Days Payable 141175207172149137169171190149133132
Cash Conversion Cycle -26-23-482-717-17936-43328
Working Capital Days -79-58-105-66-36-63-96-93-24-50-29-19
ROCE %13%10%5%14%18%20%9%16%29%8%13%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 45.41%45.41%44.79%44.81%44.81%44.81%44.84%44.85%44.84%45.31%45.31%45.31%
FIIs 26.01%25.98%26.13%26.33%26.06%25.52%25.66%25.59%25.78%25.42%25.56%25.38%
DIIs 9.47%9.59%9.50%9.48%9.81%10.52%10.53%10.59%10.52%10.93%10.87%11.06%
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%
Public 18.07%17.99%18.64%18.47%18.44%18.30%18.22%18.24%18.16%17.59%17.62%17.56%
Others 0.53%0.51%0.43%0.41%0.37%0.34%0.24%0.23%0.20%0.24%0.12%0.20%
No. of Shareholders 6,05,0195,86,9976,63,1796,41,5826,71,7796,35,6806,32,2496,35,8906,21,9326,17,3396,10,3036,05,301

Shareholding Pattern Chart

No. of Shareholders

JSW Steel Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Flexi Cap Fund 14,200,000 1.77 1724.45N/AN/AN/A
HDFC Manufacturing Fund 3,060,000 3.59 371.61N/AN/AN/A
SBI Flexicap Fund 2,990,000 1.57 363.11N/AN/AN/A
Tata Arbitrage Fund 2,982,150 1.76 362.152,708,1002026-02-22 00:09:1510.12%
HDFC ELSS Tax Saver Fund 2,347,670 1.7 285.13,000,0002026-01-26 04:23:43-21.74%
ICICI Prudential Multicap Fund 2,252,423 1.73 273.531,597,5242026-01-26 04:23:4340.99%
ICICI Prudential Commodities Fund 2,183,042 7.45 265.112,001,8632025-12-08 05:02:419.05%
ICICI Prudential Manufacturing Fund 1,674,522 3.22 203.351,937,0222026-02-22 00:09:15-13.55%
UTI Arbitrage Fund 1,212,975 1.34 147.31,156,2752026-02-23 07:21:214.9%
PGIM India Midcap Fund 990,795 1.12 120.32N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 14.3636.3417.2585.9632.91
Diluted EPS (Rs.) 14.3236.1717.1485.4932.73
Cash EPS (Rs.) 42.9956.7839.0486.4541.56
Book Value[Excl.RevalReserv]/Share (Rs.) 260.64261.56222.72227.69152.80
Book Value[Incl.RevalReserv]/Share (Rs.) 260.64261.56222.72227.69152.80
Revenue From Operations / Share (Rs.) 553.52573.79551.36486.28264.37
PBDIT / Share (Rs.) 77.3795.8765.04134.6868.65
PBIT / Share (Rs.) 46.8569.0840.21114.7453.16
PBT / Share (Rs.) 17.6744.4319.2495.7739.78
Net Profit / Share (Rs.) 12.4729.9814.2166.5126.07
NP After MI And SOA / Share (Rs.) 11.4928.8913.7768.6526.20
PBDIT Margin (%) 13.9716.7011.7927.6925.96
PBIT Margin (%) 8.4612.037.2923.5920.10
PBT Margin (%) 3.197.743.4819.6915.04
Net Profit Margin (%) 2.255.222.5713.679.85
NP After MI And SOA Margin (%) 2.075.032.4914.119.90
Return on Networth / Equity (%) 4.4011.346.3030.7016.91
Return on Capital Employeed (%) 7.9312.998.5724.8515.28
Return On Assets (%) 1.453.861.9610.515.33
Long Term Debt / Equity (X) 1.030.860.940.861.06
Total Debt / Equity (X) 1.211.101.201.041.11
Asset Turnover Ratio (%) 0.720.790.710.760.53
Current Ratio (X) 1.170.970.971.140.82
Quick Ratio (X) 0.590.400.500.540.49
Inventory Turnover Ratio (X) 4.642.642.832.922.35
Dividend Payout Ratio (NP) (%) 50.949.32101.207.606.10
Dividend Payout Ratio (CP) (%) 13.934.8336.095.893.83
Earning Retention Ratio (%) 49.0690.68-1.2092.4093.90
Cash Earning Retention Ratio (%) 86.0795.1763.9194.1196.17
Interest Coverage Ratio (X) 2.813.612.848.165.24
Interest Coverage Ratio (Post Tax) (X) 1.512.061.535.183.01
Enterprise Value (Cr.) 409041.75328895.75266575.05274342.60179588.70
EV / Net Operating Revenue (X) 2.421.881.611.872.25
EV / EBITDA (X) 17.3311.2513.626.778.66
MarketCap / Net Operating Revenue (X) 1.921.451.251.511.77
Retention Ratios (%) 49.0590.67-1.2092.3993.89
Price / BV (X) 4.083.263.153.283.02
Price / Net Operating Revenue (X) 1.921.451.251.511.77
EarningsYield 0.010.030.020.090.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of JSW Steel Ltd as of April 3, 2026 is: ₹479.48

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of April 3, 2026, JSW Steel Ltd is Overvalued by 57.94% compared to the current share price ₹1,140.00

Intrinsic Value of JSW Steel Ltd as of April 3, 2026 is: ₹390.09

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of April 3, 2026, JSW Steel Ltd is Overvalued by 65.78% compared to the current share price ₹1,140.00

Last 5 Year EPS CAGR: -18.64%

*Investments are subject to market risks

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in JSW Steel Ltd:
    1. Net Profit Margin: 2.25%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 7.93% (Industry Average ROCE: 8.78%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 4.4% (Industry Average ROE: 7.09%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 1.51
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.59
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 35.7 (Industry average Stock P/E: 22.32)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 1.21
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

JSW Steel Ltd. is a Public Limited Listed company incorporated on 15/03/1994 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L27102MH1994PLC152925 and registration number is 152925. Currently Company is involved in the business activities of Manufacture of other fabricated metal products; metalworking service activities. Company's Total Operating Revenue is Rs. 127702.00 Cr. and Equity Capital is Rs. 305.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
SteelJSW Centre, Bandra Kurla Complex, Mumbai Maharashtra 400051Contact not found
Management
NamePosition Held
Mrs. Savitri Devi JindalChairperson Emeritus
Mr. Sajjan JindalChairman & Managing Director
Mr. Jayant AcharyaJoint Managing Director & CEO
Mr. Gajraj Singh RathoreWhole Time Director & COO
Mr. Seturaman MahalingamInd. Non-Executive Director
Mr. Haigreve KhaitanInd. Non-Executive Director
Mrs. Nirupama RaoInd. Non-Executive Director
Mr. Marcel FasswaldInd. Non-Executive Director
Ms. Fiona Jane Mary PaulusInd. Non-Executive Director
Mr. Hiroyuki OgawaNominee Director
Mr. Arun Sitaram MaheshwariDirector - Commercial & Marketing
Mrs. Khushboo Goel ChowdharyNominee Director
Mr. Sushil Kumar RoongtaInd. Non-Executive Director

FAQ

What is the intrinsic value of JSW Steel Ltd?

JSW Steel Ltd's intrinsic value (as of 03 April 2026) is ₹390.09 which is 65.78% lower the current market price of ₹1,140.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹2,78,880 Cr. market cap, FY2026-2027 high/low of ₹1,285/905, reserves of ₹82,628 Cr, and liabilities of ₹250,435 Cr.

What is the Market Cap of JSW Steel Ltd?

The Market Cap of JSW Steel Ltd is 2,78,880 Cr..

What is the current Stock Price of JSW Steel Ltd as on 03 April 2026?

The current stock price of JSW Steel Ltd as on 03 April 2026 is ₹1,140.

What is the High / Low of JSW Steel Ltd stocks in FY 2026-2027?

In FY 2026-2027, the High / Low of JSW Steel Ltd stocks is ₹1,285/905.

What is the Stock P/E of JSW Steel Ltd?

The Stock P/E of JSW Steel Ltd is 35.7.

What is the Book Value of JSW Steel Ltd?

The Book Value of JSW Steel Ltd is 339.

What is the Dividend Yield of JSW Steel Ltd?

The Dividend Yield of JSW Steel Ltd is 0.25 %.

What is the ROCE of JSW Steel Ltd?

The ROCE of JSW Steel Ltd is 8.11 %.

What is the ROE of JSW Steel Ltd?

The ROE of JSW Steel Ltd is 4.94 %.

What is the Face Value of JSW Steel Ltd?

The Face Value of JSW Steel Ltd is 1.00.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in JSW Steel Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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