JSW Steel Ltd (JSWSTEEL) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.47%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 25.9%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 10.2%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹1,305.93

200-Day DMA ● Overlay

₹1,211.20

14-Day RSI ● Overlay

53.6 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹3.02 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

25.0x

Price / EPS

Book Value (₹) Assets

₹409.0

P/B: 3.0x

ROE (%) Quality

10.2%

Net Profit / Equity

ROCE (%) Efficiency

11.0%

EBIT / Capital

Dividend Yield Yield

0.58%

Face Value: ₹10

Debt / Equity Solvency

0.99x

Manageable

EPS (TTM) Per Share

₹49.32

Trailing 12M

OPM (%) Spread

16.0%

EBITDA Margin

Free Cash Flow Cash

₹10,610 Cr

CFO - Capex

About JSW Steel Ltd

JSW Steel Ltd (JSWSTEEL) is a leading Indian enterprise operating in the Metals & Mining sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 11.5% × Turnover: 0.85x × Leverage: 1.99x = ROE: 10.2%

✓ Company Strengths (Pros)

• TickerPulse fundamental algorithm rates overall quality at 80/100.

⚠ Key Considerations & Risks (Cons)

• Company has a high debt-to-equity ratio of 0.99x.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹1.90 Lakh Cr

Latest PAT

₹27,995 Cr

EPS (TTM)

₹49.32

OPM %

16.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹42,213 Cr	₹44,584 Cr	₹41,940 Cr	₹46,269 Cr	₹42,943 Cr	₹39,684 Cr	₹41,378 Cr	₹44,819 Cr	₹43,147 Cr	₹45,152 Cr	₹45,991 Cr	₹51,180 Cr	₹47,364 Cr
Operating Profit (EBITDA)	₹7,012 Cr	₹7,862 Cr	₹7,164 Cr	₹6,026 Cr	₹5,498 Cr	₹5,375 Cr	₹5,579 Cr	₹6,135 Cr	₹7,476 Cr	₹7,027 Cr	₹6,379 Cr	₹8,464 Cr	₹9,285 Cr
OPM %	17.0%	18.0%	17.0%	13.0%	13.0%	14.0%	13.0%	14.0%	17.0%	16.0%	14.0%	17.0%	20.0%
Interest Expense	₹1,963 Cr	₹2,084 Cr	₹1,996 Cr	₹2,062 Cr	₹2,073 Cr	₹2,130 Cr	₹2,115 Cr	₹2,094 Cr	₹2,217 Cr	₹2,413 Cr	₹2,304 Cr	₹2,168 Cr	₹1,712 Cr
Depreciation	₹1,900 Cr	₹2,019 Cr	₹2,059 Cr	₹2,194 Cr	₹2,209 Cr	₹2,267 Cr	₹2,336 Cr	₹2,497 Cr	₹2,537 Cr	₹2,554 Cr	₹2,362 Cr	₹2,148 Cr	₹2,137 Cr
Profit before Tax (PBT)	₹3,480 Cr	₹4,585 Cr	₹3,303 Cr	₹2,012 Cr	₹1,380 Cr	₹789.00 Cr	₹1,178 Cr	₹1,730 Cr	₹3,072 Cr	₹2,344 Cr	₹1,457 Cr	₹22,377 Cr	₹6,160 Cr
Net Profit (PAT)	₹2,428 Cr	₹2,773 Cr	₹2,450 Cr	₹1,322 Cr	₹867.00 Cr	₹404.00 Cr	₹719.00 Cr	₹1,501 Cr	₹2,209 Cr	₹1,646 Cr	₹2,410 Cr	₹19,243 Cr	₹4,696 Cr
EPS in ₹	₹9.67	₹11.29	₹9.88	₹5.31	₹3.46	₹1.80	₹2.93	₹6.15	₹8.93	₹6.64	₹8.75	₹66.94	₹19.02

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹52,972 Cr	₹41,546 Cr	₹55,604 Cr	₹71,933 Cr	₹84,757 Cr	₹73,326 Cr	₹79,839 Cr	₹1.46 Lakh Cr	₹1.66 Lakh Cr	₹1.75 Lakh Cr	₹1.69 Lakh Cr	₹1.85 Lakh Cr	₹1.90 Lakh Cr
Expenses	₹43,608 Cr	₹35,124 Cr	₹43,296 Cr	₹57,017 Cr	₹65,827 Cr	₹61,513 Cr	₹59,661 Cr	₹1.07 Lakh Cr	₹1.47 Lakh Cr	₹1.47 Lakh Cr	₹1.46 Lakh Cr	₹1.56 Lakh Cr	₹1.59 Lakh Cr
Operating Profit	₹9,364 Cr	₹6,422 Cr	₹12,308 Cr	₹14,916 Cr	₹18,930 Cr	₹11,813 Cr	₹20,178 Cr	₹39,114 Cr	₹18,470 Cr	₹28,157 Cr	₹22,725 Cr	₹29,464 Cr	₹31,155 Cr
OPM %	18%	15%	22%	21%	22%	16%	25%	27%	11%	16%	13%	16%	16%
Interest	₹3,493 Cr	₹3,601 Cr	₹3,768 Cr	₹3,701 Cr	₹3,917 Cr	₹4,265 Cr	₹3,957 Cr	₹4,968 Cr	₹6,902 Cr	₹8,105 Cr	₹8,412 Cr	₹9,102 Cr	₹8,597 Cr
Depreciation	₹3,434 Cr	₹3,323 Cr	₹3,430 Cr	₹3,387 Cr	₹4,041 Cr	₹4,246 Cr	₹4,679 Cr	₹6,001 Cr	₹7,474 Cr	₹8,172 Cr	₹9,309 Cr	₹9,601 Cr	₹9,201 Cr
Profit before Tax	₹2,539 Cr	-₹2,468 Cr	₹5,128 Cr	₹7,651 Cr	₹11,168 Cr	₹3,013 Cr	₹12,015 Cr	₹29,745 Cr	₹5,655 Cr	₹13,380 Cr	₹5,077 Cr	₹29,250 Cr	₹32,338 Cr
Net Profit	₹1,722 Cr	-₹481.00 Cr	₹3,467 Cr	₹6,113 Cr	₹7,524 Cr	₹3,919 Cr	₹7,873 Cr	₹20,938 Cr	₹4,139 Cr	₹8,973 Cr	₹3,491 Cr	₹25,508 Cr	₹27,995 Cr
EPS in Rs	7.43	-1.39	14.57	25.71	31.60	16.67	32.73	85.49	17.14	36.03	14.33	91.26	101.35

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹303.00 Cr	₹301.00 Cr	₹301.00 Cr	₹302.00 Cr	₹301.00 Cr	₹301.00 Cr	₹302.00 Cr	₹301.00 Cr	₹301.00 Cr	₹305.00 Cr	₹305.00 Cr	₹305.00 Cr
Reserves & Surplus	₹21,987 Cr	₹18,665 Cr	₹22,346 Cr	₹27,696 Cr	₹34,494 Cr	₹36,298 Cr	₹45,308 Cr	₹66,996 Cr	₹65,394 Cr	₹77,364 Cr	₹79,191 Cr	₹99,748 Cr
Borrowings (Debt)	₹38,754 Cr	₹42,204 Cr	₹43,334 Cr	₹39,393 Cr	₹47,396 Cr	₹61,423 Cr	₹66,727 Cr	₹72,237 Cr	₹80,853 Cr	₹87,984 Cr	₹98,752 Cr	₹99,310 Cr
Total Liabilities	₹85,654 Cr	₹81,907 Cr	₹88,005 Cr	₹91,970 Cr	₹1.15 Lakh Cr	₹1.32 Lakh Cr	₹1.47 Lakh Cr	₹1.96 Lakh Cr	₹2.11 Lakh Cr	₹2.28 Lakh Cr	₹2.40 Lakh Cr	₹2.70 Lakh Cr
Fixed Assets	₹52,176 Cr	₹56,140 Cr	₹58,730 Cr	₹57,848 Cr	₹62,644 Cr	₹62,085 Cr	₹64,917 Cr	₹99,880 Cr	₹1.04 Lakh Cr	₹1.12 Lakh Cr	₹1.24 Lakh Cr	₹1.17 Lakh Cr
Total Assets	₹85,654 Cr	₹81,907 Cr	₹88,005 Cr	₹91,970 Cr	₹1.15 Lakh Cr	₹1.32 Lakh Cr	₹1.47 Lakh Cr	₹1.96 Lakh Cr	₹2.11 Lakh Cr	₹2.28 Lakh Cr	₹2.40 Lakh Cr	₹2.70 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹7,876 Cr	₹6,897 Cr	₹7,888 Cr	₹12,379 Cr	₹14,633 Cr	₹12,785 Cr	₹18,831 Cr	₹26,270 Cr	₹23,323 Cr	₹12,078 Cr	₹20,899 Cr	₹25,152 Cr
Cash from Investing (CFI)	-₹7,372 Cr	-₹3,857 Cr	-₹5,094 Cr	-₹4,529 Cr	-₹11,387 Cr	-₹19,589 Cr	-₹9,410 Cr	-₹14,748 Cr	-₹10,730 Cr	-₹14,467 Cr	-₹17,012 Cr	₹18,560 Cr
Cash from Financing (CFF)	-₹169.00 Cr	-₹3,151 Cr	-₹2,710 Cr	-₹8,185 Cr	₹1,753 Cr	₹5,189 Cr	-₹1,444 Cr	-₹14,657 Cr	-₹5,977 Cr	-₹5,005 Cr	-₹262.00 Cr	-₹16,111 Cr
Free Cash Flow (FCF)	₹1,362 Cr	₹1,736 Cr	₹3,498 Cr	₹7,703 Cr	₹4,471 Cr	₹18.00 Cr	₹7,916 Cr	₹16,222 Cr	₹8,574 Cr	-₹3,469 Cr	₹8,264 Cr	₹10,610 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	17	24	27	24	31	22	21	19	16	16	18	22
Inventory Days	136	135	147	118	123	130	160	208	130	151	142	124
Cash Conversion Cycle (Days)	-23	-48	2	-7	17	-17	9	36	-4	33	28	16
ROCE %	10%	5%	14%	18%	20%	9%	15%	28%	8%	13%	8%	11%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹753.25 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹1,353.30

DCF Fair Value

₹753.25

Graham Number

₹673.70

Margin of Safety

-47%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹753.25

Premium / Overvalued (Margin: -47%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹733	₹726	₹720	₹713
10%	₹747	₹740	₹733	₹727
12%	₹760	₹753	₹746	₹740
14%	₹774	₹767	₹760	₹753

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹753	Fairly Valued
Benjamin Graham Number	₹674	Market Priced
Historical Sector P/E	₹1,085	Premium
EV / EBITDA Multiplier	₹1,421	In-Line
Free Cash Flow Yield Model	₹1,326	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 5/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

5 / 9 Pass

Altman Z-Score

2.91 (Grey Zone (Moderate Solvency))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Elevated leverage at 0.99x

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 16.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

44.29%

FIIs (Foreign)

25.92%

DIIs (Domestic)

11.49%

Government

0.15%

Public / Retail

17.62%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	44.79%	44.81%	44.81%	44.81%	44.84%	44.85%	44.84%	45.31%	45.31%	45.31%	45.31%	44.29%
+ FIIs (Foreign Portfolio)	26.13%	26.33%	26.06%	25.52%	25.66%	25.59%	25.78%	25.42%	25.56%	25.38%	25.38%	25.92%
+ DIIs (Mutual Funds / Insurance)	9.50%	9.48%	9.81%	10.52%	10.53%	10.59%	10.52%	10.93%	10.87%	11.06%	11.16%	11.49%
+ Public (Retail & HNIs)	18.64%	18.47%	18.44%	18.30%	18.22%	18.24%	18.16%	17.59%	17.62%	17.56%	17.47%	17.62%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Metals & Mining.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

JSWSTEEL Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

JSWSTEEL Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

JSWSTEEL Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹1,732.22

Accelerated market share capture in Metals & Mining, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹1,515.70

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 25x P/E.

🐻 Bear Case (15%) -12.0%

₹1,190.90

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Metals & Mining)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 19:04 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ JSW Steel Ltd (JSWSTEEL)	Target Stock	₹1,353.30	+0.47%	25.0x	10.2%	11.0%	0.99	₹3.02 Lakh Cr
Coal India Ltd (COALINDIA)	Coal Mining & Power Coal	₹406.30	+1.20%	8.3x	28.2%	35.0%	0.12	₹2.59 Lakh Cr
HINDUSTAN ZINC Ltd (HINDZINC)	Metals & Mining Operations	₹579.00	+0.53%	13.8x	76.6%	69.5%	0.39	₹2.35 Lakh Cr
Tata Steel Ltd (TATASTEEL)	Iron & Steel Manufacturing	₹189.28	+2.40%	18.7x	11.7%	12.5%	0.90	₹2.21 Lakh Cr
Hindalco Industries Ltd (HINDALCO)	Aluminium & Copper Fabrication	₹962.30	+0.24%	10.2x	13.0%	13.2%	0.73	₹2.12 Lakh Cr
Vedanta Ltd (VEDL)	Diversified Natural Resources & Metals	₹263.88	+0.72%	9.0x	38.2%	16.1%	0.66	₹98,561 Cr
NMDC Ltd (NMDC)	Iron Ore Mining & Mineral Extraction	₹71.70	+0.28%	8.8x	23.4%	27.6%	0.19	₹65,622 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	19:04:59 IST	✓ Live Sync
Financial Statements (10Y)	JSW Steel Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

JSW Steel Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About JSW Steel Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Metals & Mining)

Metric Explainer

Stock DNA Methodology

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