Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

JSW Steel Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹479.48Overvalued by 57.94%vs CMP ₹1,140.00

P/E (35.7) × ROE (4.9%) × BV (₹339.00) × DY (0.25%)

₹544.25Overvalued by 52.26%vs CMP ₹1,140.00
MoS: -109.5% (Negative)Confidence: 63/100 (Moderate)Models: All 7: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹390.0929%Over (-65.8%)
Graham NumberEarnings₹482.0921%Over (-57.7%)
Net Asset ValueAssets₹339.019%Over (-70.3%)
EV/EBITDAEnterprise₹896.1812%Over (-21.4%)
Earnings YieldEarnings₹304.709%Over (-73.3%)
ROCE CapitalReturns₹957.9512%Over (-16%)
Revenue MultipleRevenue₹690.127%Over (-39.5%)
Consensus (7 models)₹544.25100%Overvalued
Key Drivers: EPS CAGR -18.6% drags value — could be higher if earnings stabilize. | ROE 4.9% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -18.6%

*Investments are subject to market risks

Analyst Summary

JSW Steel Ltd operates in the Steel segment, NSE: JSWSTEEL | BSE: 500228, current market price is ₹1,140.00, market cap is 2,78,880 Cr.. At a glance, stock P/E is 35.7, ROE is 4.94 %, ROCE is 8.11 %, book value is 339, dividend yield is 0.25 %. The latest intrinsic value estimate is ₹544.25, around 52.3% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹168,824 Cr versus the prior period change of -3.5%, while latest net profit is about ₹3,491 Cr with a prior-period change of -61.1%. The 52-week range shown on this page is 1,285/905, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisJSW 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 L27102M…

This summary is generated from the stock page data available for JSW Steel Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

49
JSW Steel Ltd scores 49/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health39/100 · Weak
ROCE 8.1% AverageROE 4.9% WeakD/E 1.11 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 0.54% MF buyingPromoter holding at 45.3% Stable
Earnings Quality40/100 · Moderate
OPM contracting (19% → 15%) Declining
Quarterly Momentum80/100 · Strong
Revenue (4Q): +5% YoY GrowingProfit (4Q): +134% YoY Strong
Industry Rank35/100 · Weak
P/E 35.7 vs industry 22.3 Premium to peersROCE 8.1% vs industry 8.8% Average3Y sales CAGR: 5% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

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₹544.25
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

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 and is it undervalued?

As of 23 April 2026, JSW Steel Ltd's intrinsic value is ₹544.25, which is 52.26% lower than the current market price of ₹1,140.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (4.94 %), book value (₹339), dividend yield (0.25 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of JSW Steel Ltd?

JSW Steel Ltd is trading at ₹1,140.00 as of 23 April 2026, with a FY2026-2027 high of ₹1,285 and low of ₹905. The stock is currently in the middle of its 52-week range. Market cap stands at ₹2,78,880 Cr..

How does JSW Steel Ltd's P/E ratio compare to its industry?

JSW Steel Ltd has a P/E ratio of 35.7, which is above the industry average of 22.32. The premium over industry average may reflect growth expectations or speculative interest.

Is JSW Steel Ltd financially healthy?

Key indicators for JSW Steel Ltd: ROCE of 8.11 % is on the lower side compared to the industry average of 8.78%; ROE of 4.94 % is below ideal levels (industry average: 7.09%). Dividend yield is 0.25 %.

Is JSW Steel Ltd profitable and how is the profit trend?

JSW Steel Ltd reported a net profit of ₹3,491 Cr in Mar 2025 on revenue of ₹168,824 Cr. Compared to ₹20,938 Cr in Mar 2022, the net profit shows a declining trend.

Does JSW Steel Ltd pay dividends?

JSW Steel Ltd has a dividend yield of 0.25 % at the current price of ₹1,140.00. The company pays dividends, though the yield is modest.

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