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JSW Steel Ltd.

Iron & SteelSteel & Iron Products

www.jsw.in BSE: 500228NSE: JSWSTEEL

₹1,218.90BSE0.41%

22 Oct, 4:01 PM

₹1,218.90

₹2.98L Cr

12.03

2.85

28.54%

₹1,227.30

₹1,200.70

₹1,350.30

₹1,072.90

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Price Performance

Peer Comparison

Name
JSW Steel Ltd. JSWSTEEL	1,218.90	12.03	2,98,076.38	0.58	4,696.00	112.58%	47,364.00	9.77%	20.67
TATA STEEL TATASTEEL	172.80	19.55	2,15,714.12	2.31	2,385.24	18.82%	60,794.29	14.32%	12.70
STEEL AUTH. SAIL	169.65	16.40	70,074.36	1.39	1,644.05	120.80%	26,245.67	1.25%	7.08
WELCORP WELCORP	2,453.75	27.81	64,727.63	0.21	1,047.88	200.11%	4,081.12	14.91%	23.94
JSL JSL	708.60	17.56	58,418.37	0.56	897.75	11.12%	12,873.86	18.19%	19.19
APL APOLLO APLAPOLLO	2,050.00	46.31	56,919.97	0.41	263.11	10.94%	5,606.71	8.45%	31.83
SHYAMMETL SHYAMMETL	1,181.75	29.73	32,986.41	0.38	350.73	20.66%	5,455.09	23.33%	13.88
RATNAMNI MET RATNAMANI	2,365.55	38.33	16,580.61	0.42	107.03	-15.82%	971.63	-15.63%	18.01

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	46,269.00	42,943.00	39,684.00	41,378.00	44,819.00	43,147.00	45,152.00	45,991.00	51,180.00	47,364.00
Expenses	40,145.00	37,433.00	34,247.00	35,799.00	38,441.00	35,571.00	38,037.00	39,495.00	42,546.00	37,981.00
	6,124.00	5,510.00	5,437.00	5,579.00	6,378.00	7,576.00	7,115.00	6,496.00	8,634.00	9,383.00
	13.24%	12.83%	13.70%	13.48%	14.23%	17.56%	15.76%	14.12%	16.87%	19.81%
	242.00	164.00	-189.00	44.00	186.00	350.00	284.00	-256.00	18,229.00	724.00
Interest	2,062.00	2,073.00	2,130.00	2,115.00	2,094.00	2,217.00	2,413.00	2,304.00	2,168.00	1,712.00
	2,194.00	2,209.00	2,267.00	2,336.00	2,497.00	2,537.00	2,554.00	2,362.00	2,148.00	2,137.00
	2,012.00	1,380.00	789.00	1,178.00	1,730.00	3,072.00	2,344.00	1,457.00	22,377.00	6,160.00
	34.29%	37.17%	48.80%	38.96%	13.24%	28.09%	29.78%	-65.41%	14.01%	23.77%
	1,299.00	845.00	439.00	717.00	1,503.00	2,184.00	1,623.00	2,139.00	16,370.00	4,651.00
	4.26	3.46	1.44	2.94	4.93	8.95	5.32	8.77	53.67	19.02

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
	1,46,371.00	1,65,960.00	1,75,006.00	1,68,824.00	1,85,470.00
	1,46,371.00	1,65,960.00	1,75,006.00	1,68,824.00	1,85,470.00
EXPENDITURE :
Increase/Decrease in Stock	-3,601.00	-2,636.00	-3,087.00	829.00	4,719.00
Raw Material Consumed	62,871.00	95,970.00	94,754.00	89,169.00	91,872.00
Power & Fuel Cost	11,289.00	17,452.00	15,127.00	16,161.00	16,152.00
Employee Cost	3,493.00	3,915.00	4,591.00	4,798.00	5,285.00
Other Manufacturing Expenses	30,131.00	26,719.00	30,566.00	30,726.00	30,194.00
General and Administration Expenses	450.00	906.00	730.00	745.00	771.00
Selling and Distribution Expenses	118.00	112.00	177.00	181.00	229.00
Miscellaneous Expenses	2,613.00	4,975.00	3,912.00	3,311.00	6,427.00
	1,07,364.00	1,47,413.00	1,46,770.00	1,45,920.00	1,55,649.00
Operating Profit (Excl OI)	39,007.00	18,547.00	28,236.00	22,904.00	29,821.00
	1,531.00	1,030.00	1,004.00	694.00	1,248.00
	40,538.00	19,577.00	29,240.00	23,598.00	31,069.00
Interest	4,968.00	6,902.00	8,105.00	8,412.00	9,102.00
PBDT	35,570.00	12,675.00	21,135.00	15,186.00	21,967.00
	6,001.00	7,474.00	8,172.00	9,309.00	9,601.00
Profit Before Taxation & Exceptional Items	29,569.00	5,201.00	12,963.00	5,877.00	12,366.00
Exceptional Income / Expenses	-741.00	591.00	589.00	-489.00	17,359.00
	29,745.00	5,655.00	13,380.00	5,077.00	29,250.00
Provision for Tax	8,807.00	1,516.00	4,407.00	1,586.00	3,742.00
	20,938.00	4,139.00	8,973.00	3,491.00	25,508.00
Extra items			0.00	0.00	0.00
Minority Interest	-273.00	5.00	-161.00	13.00	-3,192.00
Consolidated Net Profit	20,665.00	4,144.00	8,812.00	3,504.00	22,316.00
Profit Balance B/F	24,043.00	42,615.00	42,627.00	50,208.00	51,812.00
Appropriations	44,708.00	46,759.00	51,439.00	53,712.00	74,128.00
Equity Dividend %	1,735.00%	340.00%	730.00%	280.00%	710.00%
	86.10	17.27	36.11	14.36	91.46
Adjusted EPS	86.10	17.27	36.11	14.36	91.46

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	301.00	301.00	305.00	305.00	305.00
Share Warrants & Outstandings	241.00	408.00	446.00	413.00	268.00
Total Reserves	66,755.00	64,986.00	76,918.00	78,778.00	99,480.00
Reserve excluding Revaluation Reserve	66,755.00	64,986.00	76,918.00	78,778.00	99,480.00
	67,297.00	65,695.00	77,669.00	79,496.00	1,00,053.00
Minority Interest	1,238.00	1,344.00	2,107.00	2,170.00	5,422.00
Secured Loans	23,725.00	21,889.00	27,926.00	34,618.00	25,269.00
Unsecured Loans	34,204.00	40,077.00	39,428.00	47,365.00	50,339.00
Deferred Tax Assets / Liabilities	7,621.00	7,397.00	9,359.00	9,213.00	9,275.00
Other Long Term Liabilities	3,368.00	2,779.00	3,893.00	5,558.00	7,984.00
Long Term Provisions	1,481.00	1,395.00	1,451.00	1,399.00	1,939.00
Total Non-Current Liabilities	70,399.00	73,537.00	82,057.00	98,153.00	94,806.00
Trade Payables	30,889.00	38,203.00	33,365.00	32,552.00	34,483.00
Other Current Liabilities	24,042.00	26,364.00	27,136.00	24,782.00	28,749.00
Short Term Borrowings	1,973.00	3,767.00	4,773.00	2,809.00	4,544.00
Short Term Provisions	647.00	1,629.00	791.00	483.00	1,594.00
Total Current Liabilities	57,551.00	69,963.00	66,065.00	60,626.00	69,370.00
Total Liabilities	1,96,485.00	2,10,539.00	2,27,898.00	2,40,445.00	2,69,658.00
Gross Block	1,29,794.00	1,39,134.00	1,54,188.00	1,74,630.00	1,69,784.00
Less: Accumulated Depreciation	30,094.00	34,768.00	41,867.00	50,327.00	52,721.00
Net Block	99,700.00	1,04,366.00	1,12,321.00	1,24,303.00	1,17,063.00
Capital Work in Progress	16,756.00	21,921.00	29,216.00	20,478.00	21,892.00
Non Current Investments	4,932.00	4,801.00	7,243.00	9,398.00	9,700.00
Long Term Investment	4,932.00	4,801.00	7,243.00	9,398.00	9,700.00
Long Term Loans & Advances	5,968.00	6,870.00	8,382.00	7,256.00	8,399.00
Other Non Current Assets	3,426.00	4,100.00	5,602.00	7,582.00	8,680.00
Total Non-Current Assets	1,31,111.00	1,42,389.00	1,63,364.00	1,69,709.00	1,66,223.00
Currents Investments	8.00	5.00	3.00	5,819.00	518.00
Inventories	33,787.00	33,135.00	37,815.00	34,956.00	32,765.00
Sundry Debtors	7,457.00	7,134.00	7,548.00	8,415.00	11,260.00
Cash and Bank	17,383.00	20,714.00	12,348.00	13,285.00	40,989.00
Other Current Assets	1,892.00	2,406.00	2,376.00	1,951.00	12,020.00
Short Term Loans and Advances	4,839.00	4,752.00	4,443.00	6,281.00	5,802.00
Total Current Assets	65,366.00	68,146.00	64,533.00	70,707.00	1,03,354.00
Net Current Assets (Including Current Investments)	7,815.00	-1,817.00	-1,532.00	10,081.00	33,984.00
Total Assets	1,96,485.00	2,10,539.00	2,27,898.00	2,40,445.00	2,69,658.00
Contingent Liabilities	5,341.00	7,521.00	7,554.00	7,824.00	10,228.00
Total Debt	69,975.00	78,842.00	85,575.00	95,958.00	95,533.00
	279.15	271.78	316.24	323.86	408.70
Adjusted Book Value	279.15	271.78	316.24	323.86	408.70

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	29,745.00	5,655.00	13,380.00	5,077.00	29,250.00
Adjustment	9,168.00	15,201.00	15,092.00	18,476.00	2,835.00
Changes In working Capital	-7,264.00	3,105.00	-13,615.00	-681.00	-3,708.00
Cash Flow after changes in Working Capital	31,649.00	23,961.00	14,857.00	22,872.00	28,377.00
Cash Flow from Operating Activities	26,270.00	23,323.00	12,078.00	20,899.00	25,152.00
Cash Flow from Investing Activities	-15,987.00	-10,711.00	-14,638.00	-16,997.00	18,690.00
Cash Flow from Financing Activitie	-14,657.00	-5,977.00	-5,005.00	-262.00	-16,111.00
Net Cash Inflow / Outflow	-4,374.00	6,635.00	-7,565.00	3,640.00	27,731.00
Opening Cash & Cash Equivalents	11,943.00	8,808.00	15,424.00	8,030.00	11,655.00
Cash & Cash Equivalent on Amalgamation / Take over / Merger			178.00		-88.00
Cash & Cash Equivalent of Subsidiaries under liquidations	-4.00
Translation adjustment on reserves / op cash balalces frgn subsidiaries	1,243.00	-19.00	-7.00	-15.00	-42.00
Closing Cash & Cash Equivalent	8,808.00	15,424.00	8,030.00	11,655.00	39,256.00

Ratios

Valuation

12.03

2.85

10.61

1.60

101.34

427.40

Profitability

28.54

20.67

10.00

16.08

13.75

Leverage & Liquidity

0.96

1.49

4.21

Returns

0.58

0.73

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26	Sep '26
	44.81	44.84	44.85	44.84	45.31	45.32	45.32	45.32	44.29	44.30
	36.56	36.71	36.69	36.81	36.86	36.93	36.93	37.04	37.92	38.06
	18.64	18.46	18.47	18.36	17.84	17.75	17.75	17.64	17.81	17.66
	55.19	55.16	55.15	55.16	54.69	54.68	54.68	54.68	55.71	55.70
No. of Shareholders	6,35,680	6,32,249	6,35,890	6,21,932	6,17,339	6,10,303	6,05,301	6,03,274	6,10,616	6,20,717

Mutual Funds Invested(311)

Based on each fund's latest monthly portfolio · Sep 2026

A total of 177 active funds hold 3.78% in JSW Steel Ltd., contributing to ₹11.60K Cr of holdings

Fund				As of
SB SBI Nifty 50 ETFIndex	2,340.41	1.15	1,86,72,530	Sep '26
HD HDFC Flexi Cap Fund - Growth - Direct PlanFlexi Cap Fund	1,575.24	1.45	1,25,67,750	Sep '26
UT UTI Nifty 50 ETFIndex	802.63	1.15	64,03,657	Sep '26
NI Nippon India ETF Nifty 50 BeESIndex	751.34	1.15	59,94,422	Sep '26
SB SBI Arbitrage Fund - Growth - Direct PlanHybrid - Arbitrage Fund	730.48	1.58	58,27,950	Sep '26
HD HDFC Arbitrage Fund - Growth - Direct Plan (Merged)Hybrid - Arbitrage Fund	590.45	2.32	47,10,825	Sep '26
KO Kotak Arbitrage Fund - Growth - Direct PlanHybrid - Arbitrage Fund	560.17	0.74	44,69,175	Sep '26
IP ICICI Prudential Nifty 50 ETFIndex	492.64	1.15	39,30,467	Sep '26
SB SBI Large Cap Fund - Growth - Direct PlanLarge Cap Fund	388.55	0.74	31,00,000	Sep '26
SB SBI Midcap Fund - Growth - Direct PlanMid Cap Fund	376.02	1.62	30,00,000	Sep '26

Corporate Actions

Showing: All

Date	Type	Details
2026-09-28	Board Meeting	Quarterly Results
2026-07-03	AGM
2026-06-29	Board Meeting	Quarterly Results

Insider Trading

Date	Person	Category	Transaction Type	Shares
2026-10-06	JSW Steel Employees Welfare Trust JSWSL OPJ Samruddhi Plan 2021 A/c	Off Market	Sell	4,658
2026-10-06	JSW Steel Employees Welfare Trust JSWSL OPJ Samruddhi Plan 2021 A/c	Market	Sell	260
2026-10-06	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Off Market	Sell	17,549
2026-10-06	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Market	Sell	1,503
2026-09-30	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Off Market	Sell	1,765
2026-09-30	JSW Steel Employees Welfare Trust JSWSL OPJ Samruddhi Plan 2021 A/c	Off Market	Sell	7,033
2026-09-30	JSW Steel Employees Welfare Trust JSWSL OPJ Samruddhi Plan 2021 A/c	Market	Sell	104
2026-09-30	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Market	Sell	1,339
2026-09-30	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Market	Sell	427
2026-09-30	JSW Steel Employees Welfare Trust JSWSL OPJ Samruddhi Plan 2021 A/c	Market	Sell	153
2026-09-30	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Off Market	Sell	12,873
2026-09-25	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Market	Sell	166
2026-09-25	JSW Steel Employees Welfare Trust JSWSL OPJ Samruddhi Plan 2021 A/c	Market	Sell	172
2026-09-25	JSW Steel Employees Welfare Trust JSWSL OPJ Samruddhi Plan 2021 A/c	Market	Sell	40
2026-09-25	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Market	Sell	243
2026-09-25	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Off Market	Sell	28,418
2026-09-25	JSW Steel Employees Welfare Trust JSWSL OPJ Samruddhi Plan 2021 A/c	Off Market	Sell	6,300
2026-09-21	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Market	Sell	836
2026-09-21	JSW Steel Employees Welfare Trust JSWSL OPJ Samruddhi Plan 2021 A/c	Market	Sell	336
2026-09-21	JSW Steel Employees Welfare Trust OPJ ESOP Plan 2021 A/c	Off Market	Sell	66,093

Sector Overview

Iron & SteelSteel & Iron Products

JSW Steel Ltd. operates in the Iron & Steel sector under the Steel & Iron Products industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

14 members across the board and senior leadership

Sajjan Jindal

Chairman & Managing Director

₹58.20 Cr

Mar '26

Jayant Acharya

Joint Managing Director & CEO

₹14.80 Cr

Mar '26

Gajraj Singh Rathore

Whole Time Director & Chief Operating Officer

₹9.30 Cr

Mar '26

Arun Sitaram Maheshwari

Whole Time Director - Commercial & Marketing

₹6.54 Cr

Mar '26

Khushboo Goel Chowdhary

Nominee Director - KSIDC

₹54.50 L

Mar '26

Hiroyuki Ogawa

Nominee Director of JFE Steel Corp., Japan

₹56.00 L

Mar '26

Seturaman Mahalingam