Manufactures crude steel in India and the United States, with Indian operations accounting for the bulk of output. As of FY26 it is India's largest steel producer by capacity, with stated targets to grow further. FY26 consolidated revenue was Rs 1,85,470 crore with an EBITDA margin of 26.1%. In Q1 FY27 consolidated PAT was Rs 4,696 crore. Cost structure is dominated by raw materials, principally iron ore and coking coal, consuming 47.9% of revenue, while other operating expenses take 29.0% and depreciation 5.2%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Indian steel operations, US steel operations in Ohio. Asset-heavy, cyclical steel manufacturing
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,46,371 | 1,65,960 | 1,75,006 | 1,68,824 | 1,85,470 |
| EBITDA (ex other income) | 38,266 | 19,138 | 28,825 | 22,415 | 47,180 |
| margin % | 26.1 | 11.5 | 16.5 | 13.3 | 25.4 |
| Owners' profit | 20,665 | 4,144 | 8,812 | 3,504 | 22,316 |
| EPS, as reported (₹) | 85.96 | 17.25 | 36.34 | 14.36 | 91.43 |
| ROE % · ROCE % | 30.6 · 24.3 | 6.2 · 9.0 | 11.2 · 13.4 | 4.3 · 7.7 | 24.2 · 19.4 |
| Debt / equity (x) | 1.02 | 1.17 | 1.07 | 1.18 | 0.91 |
| Cash from operations | 26,270 | 23,323 | 12,078 | 20,899 | 25,152 |
| Capex | (10,091) | (14,324) | (15,801) | (12,694) | (14,654) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 39,684 | 41,378 | 44,819 | 43,147 | 45,152 | 45,991 | 51,180 | 47,364 |
| Profit before tax | 851 | 1,172 | 1,973 | 3,172 | 2,432 | 1,574 | 22,547 | 6,258 |
| Net profit | 404 | 719 | 1,501 | 2,209 | 1,646 | 2,410 | 19,243 | 4,696 |
| EPS (₹) | 1.80 | 2.94 | 6.15 | 8.95 | 6.66 | 8.76 | 67.07 | 19.05 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JSW STEEL LIMITED ◆ | 3,08,660 | 12.5 | 2.93 | 7.5 | 24.2 | 14.8 | 18.4 | 21.3 |
| TATA STEEL LIMITED | 2,28,494 | 20.7 | 2.20 | 9.0 | 10.5 | 7.6 | 8.2 | 15.1 |
| JINDAL STEEL LIMITED | 1,14,044 | 41.9 | 2.20 | 14.7 | 6.5 | 5.6 | 6.4 | 17.3 |
| STEEL AUTHORITY OF INDIA | 73,936 | 17.3 | 1.23 | 8.7 | 5.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · JSW Steel to hold investor meetings in New York on Sep 21-22, 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · JSW Steel August 2026 Crude Steel Output Up 3% YoY at 24.65 LT | business updates | medium | — | — |
| 3 Sept 2026 · JSW Steel rating upgraded to IND AA+ with Stable outlook by Ind-Ra | credit debt | high | — | — |
| 1 Sept 2026 · Newspaper ad for notice of loss of share certificate | compliance | minimal | — | — |
| 31 Aug 2026 · JSW Steel schedules analyst and investor meetings in September | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Scheme of amalgamation with Piombino Steel approved by shareholders | strategic transactions | high | — | — |
| 21 Aug 2026 · JSW Steel shareholders approve Piombino Steel amalgamation scheme | strategic transactions | high | — | — |
| 12 Aug 2026 · JSW Steel uploads new investor presentation on company website | investor communications | medium | — | — |
| 11 Aug 2026 · JSW Steel to hold investor meetings in Singapore and Hong Kong from Aug 17 to 19 | board shareholder meetings | low | — | — |
| 10 Aug 2026 · JSW Steel reports 3% YoY growth in July crude steel output at 24.02 LT | business updates | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 4.4 |
| 9.9 |
| 16.1 |
| JINDAL STAINLESS LIMITED | 62,273 | 19.2 | 3.13 | 11.8 | 16.0 | 15.8 | 28.7 | 13.1 |
| SARDA ENERGY & MIN LTD | 18,448 | 16.3 | 2.47 | 10.3 | 14.8 | 14.0 | 20.9 | 47.4 |
| NMDC STEEL LIMITED | 12,824 | 141.2 | 0.97 | — | 0.4 | 0.5 | — | 12.1 |
| SANDUR MANG & IRON ORES L | 9,255 | 12.9 | 2.83 | 8.2 | 20.1 | 20.9 | — | 26.1 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.5 | 16.3 | 3 of 11 | 80% |
| P/B | 2.9 | 2.2 | 10 of 11 | 10% |
| ROCE | 14.8 | 8.1 | 4 of 11 | 70% |
| ROE | 24.2 | 10.5 | 2 of 11 | 90% |
| Debt / Equity | 0.9 | 0.4 | 10 of 11 | 10% |
| EBITDA margin | 21.3 | 15.1 | 3 of 11 | 80% |
| Revenue growth | 9.8 | 9.8 | 6 of 11 | 50% |
| Profit growth | 112.6 | 18.8 | 2 of 11 | 90% |
| Market cap | 308660 | 18448 | 1 of 11 | 100% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
