Operates three integrated businesses in metals, mining, and energy, with power generation as the largest contributor to both revenue and earnings. The Power segment brought in Rs 2,845.71 crore in FY26 (44.2% of segment revenue) and EBIT of Rs 1,095.02 crore, covering thermal and hydropower generation across an installed energy capacity of 929.5 MW. Steel generated Rs 1,920.89 crore (29.8% share) and EBIT of Rs 318.1 crore, including sponge iron and iron-ore pellets (sponge iron output of 345,000 MT in FY26). Ferro Alloys delivered Rs 1,656.36 crore (25.7% share) and EBIT of Rs 263.34 crore, producing alloys used by steelmakers. Coal mining at 1.8 MTPA supplies captive needs for power and metallics. Materials are the largest cost at 48.9% of revenue, and the consolidated entity is net debt-free with Rs 2,380 crore in liquidity. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Power (44%), Steel (30%), Ferro Alloys (26%). Diversified, asset-heavy metals, mining, and energy
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3,914 | 4,212 | 3,868 | 4,643 | 5,690 |
| EBITDA (ex other income) | 1,348 | 1,060 | 795 | 1,237 | 1,798 |
| margin % | 34.4 | 25.2 | 20.6 | 26.6 | 31.6 |
| Owners' profit | 804 | 602 | 523 | 700 | 1,106 |
| EPS, as reported (₹) | 223.07 | 169.94 | 14.84 | 19.86 | 31.38 |
| ROE % · ROCE % | 26.0 · 28.1 | 17.2 · 19.7 | 13.1 · 15.2 | 11.0 · 12.5 | 14.8 · 16.3 |
| Debt / equity (x) | 0.51 | 0.40 | 0.34 | 0.44 | 0.35 |
| Cash from operations | 923 | 701 | 752 | 886 | 1,735 |
| Capex | (288) | (217) | (266) | (490) | (338) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,159 | 1,319 | 1,239 | 1,633 | 1,528 | 1,276 | 1,254 | 1,608 |
| Profit before tax | 276 | 226 | 160 | 553 | 431 | 255 | 210 | 615 |
| Net profit | 203 | 200 | 100 | 437 | 328 | 190 | 155 | 478 |
| EPS (₹) | 5.55 | 5.60 | 3.07 | 12.33 | 9.17 | 5.40 | 4.48 | 13.00 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Steel | 1,826 | 28.3 |
| Ferro Alloys | 1,656 | 25.7 |
| Power | 2,940 | 45.6 |
| Unallocated | 20 | 0.3 |
| Total, before eliminations | 6,443 | 100.0 |
| 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Credit Rating Affirmed for Subsidiary Sarda Metals Alloys | credit debt | medium | — | — |
| 4 Sept 2026 · IND A1+ rating assigned to commercial paper facility | credit debt | medium | — | — |
| 4 Sept 2026 · Newspaper clippings on special window for dematerialisation of physical shares | compliance | minimal | — | — |
| 1 Sept 2026 · Sarda Energy 53rd AGM notice published; e-voting 21-23 September 2026 | compliance | minimal | — | — |
| 31 Aug 2026 · 53rd AGM notice filed; FY26 annual report submitted with key results | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Sarda Energy and Minerals: President and Plant Head Arup Pal resigns | management changes | medium | — | — |
| 14 Aug 2026 · Mr Arup Pal resigns as KMP from Sarda Energy effective August 10 2026 | management changes | medium | — | — |
| 14 Aug 2026 · Volume rise is market driven, no management connection | compliance | low | — | — |
| 13 Aug 2026 · Unusual trading volume; exchange seeks clarification from company | regulatory legal | medium | — | — |
| 10 Aug 2026 · TG 1 Replacement Completed; Plant Operations Stable | capex operations | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 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 | 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) | 16.3 | 16.3 | 6 of 11 | 50% |
| P/B | 2.5 | 2.2 | 8 of 11 | 30% |
| ROCE | 13.9 | 8.1 | 5 of 11 | 60% |
| ROE | 14.8 | 10.5 | 5 of 11 | 60% |
| Debt / Equity | 0.3 | 0.4 | 4 of 11 | 70% |
| EBITDA margin | 47.4 | 15.1 | 1 of 11 | 100% |
| Revenue growth | (1.5) | 9.8 | 10 of 11 | 10% |
| Profit growth | 9.5 | 18.8 | 7 of 11 | 40% |
| Market cap | 18448 | 18448 | 6 of 11 | 50% |
| 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.
