JSW Steel Limited (IN:JSWSTEEL)
:JSWSTEEL
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JSW Steel Limited
(JSWSTEEL)
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Rating:66Neutral
Price Target:
₹1,381.00
▲(11.38% Upside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by improving (but still cyclical) financial performance: profitability has rebounded, yet leverage and weak/volatile free cash flow conversion remain notable risks. Technicals are supportive with a positive trend and moderate momentum, while valuation is reasonable on earnings but offers minimal dividend support.
Positive Factors
Integrated operations & product mix
Vertical integration and downstream processing provide durable cost and quality control advantages. Controlling conversion steps and value-added coating/processing helps protect margins versus spot-priced feedstock swings, supports product differentiation, and enables faster response to customer specs across markets.
Negative Factors
Cyclical earnings and margin volatility
Large multi-year swings in margins and profits indicate exposure to commodity price cycles and demand volatility. This cyclical volatility undermines predictability of cash flows and makes capital allocation and long-term planning harder, increasing risk during downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated operations & product mix
Vertical integration and downstream processing provide durable cost and quality control advantages. Controlling conversion steps and value-added coating/processing helps protect margins versus spot-priced feedstock swings, supports product differentiation, and enables faster response to customer specs across markets.
Read all positive factors
JSW Steel Limited (JSWSTEEL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.14T
Dividend Yield0.26%
Average Volume (3M)62.90K
Price to Earnings (P/E)12.3
Beta (1Y)0.96
Revenue Growth9.86%
EPS Growth536.23%
CountryIN
Employees13,301
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)24.69
Shares Outstanding2,445,453,900
10 Day Avg. Volume59,869
30 Day Avg. Volume62,901
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)2.74
Price to Sales (P/S)1.48
P/FCF Ratio120.59
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,452.50Price Target Upside17.15% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)60.41
Revenue Forecast (FY)₹1.99T
JSW Steel Limited Business Overview & Revenue Model
Company Description
JSW Steel Limited engages in the manufacture and sale of iron and steel products in India and internationally. The company provides hot rolled and cold-rolled coils, as well as galvanized, galvalume, and color coated products; and TMT bars, wire r...
How the Company Makes Money
JSW Steel primarily makes money by manufacturing steel and selling it to industrial customers, distributors, and end-users in domestic and export markets. Its core revenue stream is the sale of finished steel products: (1) flat steel products (suc...
JSW Steel Limited Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
63
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.74T | 1.85T | 1.69T | 1.75T | 1.66T | 1.46T |
| Gross Profit | 695.00B | 508.87B | 671.06B | 709.11B | 630.73B | 715.40B |
| EBITDA | 265.35B | 298.21B | 230.42B | 283.70B | 202.44B | 392.38B |
| Net Income | 60.27B | 223.16B | 35.04B | 88.12B | 41.44B | 206.65B |
Balance Sheet | ||||||
| Total Assets | 2.50T | 2.70T | 2.41T | 2.28T | 2.11T | 1.96T |
| Cash, Cash Equivalents and Short-Term Investments | 189.33B | 415.07B | 191.04B | 123.51B | 200.82B | 159.52B |
| Total Debt | 1.01T | 993.10B | 987.52B | 879.84B | 1.07T | 722.11B |
| Total Liabilities | 1.65T | 1.64T | 1.59T | 1.48T | 1.44T | 1.28T |
| Stockholders Equity | 829.33B | 1.00T | 794.96B | 776.69B | 656.95B | 672.97B |
Cash Flow | ||||||
| Free Cash Flow | 51.57B | 22.72B | 82.05B | -37.23B | 85.39B | 161.79B |
| Operating Cash Flow | 119.92B | 169.26B | 208.99B | 120.78B | 233.23B | 262.70B |
| Investing Cash Flow | -79.38B | 179.94B | -169.97B | -146.38B | -107.11B | -159.87B |
| Financing Cash Flow | -55.98B | -71.89B | -2.62B | -50.05B | -59.77B | -146.57B |
JSW Steel Limited Technical Analysis
Positive
1239.90
Price Trends
1216.36
Positive
1205.77
Positive
1161.76
Positive
Market Momentum
17.95
Positive
57.49
Neutral
52.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JSWSTEEL, the sentiment is Positive. The current price of 1239.9 is below the 20-day moving average (MA) of 1272.92, above the 50-day MA of 1216.36, and above the 200-day MA of 1161.76, indicating a bullish trend. The MACD of 17.95 indicates Positive momentum. The RSI at 57.49 is Neutral, neither overbought nor oversold. The STOCH value of 52.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:JSWSTEEL.
JSW Steel Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹3.14T | 12.28 | ― | 0.26% | 9.86% | 536.23% | |
65 Neutral | ₹515.42B | 44.69 | ― | 0.31% | 8.56% | 58.85% | |
64 Neutral | ₹2.58T | 22.17 | ― | 2.11% | 6.22% | ― | |
63 Neutral | ₹607.64B | 18.34 | ― | 0.38% | 9.27% | 27.44% | |
63 Neutral | ₹822.80B | 18.53 | ― | 1.21% | 8.13% | 42.14% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | ₹1.25T | 27.10 | ― | 0.20% | 6.95% | 18.97% |
* Basic Materials Sector Average
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JSW Steel Limited Corporate Events
NCLT Reopens Bidding for Colour Roof, Clouding JSW Steel Coated Products’ Winning Resolution Plan
Apr 14, 2026
JSW Steel Coated Products, a wholly owned subsidiary of JSW Steel, had earlier submitted a resolution plan for insolvent Colour Roof (India) Limited and was declared the successful resolution applicant after creditor approval. That process has now...
JSW Steel Completes BPSL Steel Business Transfer Ahead of JFE Joint Venture
Mar 27, 2026
JSW Steel has completed the transfer of the steel business undertaking of Bhushan Power and Steel Limited to its subsidiary, JSW Sambalpur Steel Limited, via a slump sale on a going concern basis. This move is part of a previously announced plan t...
JSW Steel Secures Key Coking Coal Source with Mozambique’s Minas de Revuboè Project
Mar 13, 2026
JSW Steel has launched the Minas de Revuboè coking coal mining project in Mozambique’s Moatize coal basin, marking a significant expansion of its global raw material footprint and India-Mozambique industrial ties. The project, in Tete P...
JSW Steel Opens Special Window for Transfer and Demat of Physical Shares
Mar 2, 2026
JSW Steel has notified the stock exchanges that it has published newspaper advertisements informing shareholders about a Special Window opened for the transfer and dematerialisation of physical securities. The move, undertaken in line with a recen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.