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Every ratio from the Fundamental Analysis track, computed on a real company and annotated with what the number actually means. Then the three financial statements, so you can do the cash-flow check yourself.
JSW Steel Limited manufactures and sells iron and steel products in India and internationally. The company offers hot and cold rolled steel products, colour coated sheets, galvanized and galvalume steel, electrical steel, steel doors, zinc-magnesium-aluminium products, aluminium-zinc roofing products, tin plate, TMT bars, wire rods, special alloy steel, grinding media, prepainted colour coated steel, low-carbon steel, hot-rolled sheets, structural steel, and low relaxation pre-stressed concrete steel strands under the JSW Neosteel, JSW Neostrands, JSW Neosteel Fastbuild, JSW Trusteel, JSW Colouron+, JSW Everglow, JSW Vishwas, JSW Platina, JSW Magsure, JSW Galveco, JSW Silveron+, JSW Pragati+, JSW Vishwas+, JSW Galvos, JSW Avante, JSW ColourFrame, JSW Endura+, JSW Radiance brands. It also engages in acquisition and investment in steel related and allied businesses, and trading in steel products; real estate; production and distribution of special long steel products; management of logistic infrastructure of Piombino's port area; produces forged steel balls; manufactures plates, pipes and double jointing, slabs, and hot rolled coils; produces gaseous and liquid form of oxygen, nitrogen, argon, and other products recoverable from separation of air; mining; and construction and development of residential township. In addition, the company trades in iron ore, steel, and allied activities; and provides steel plant, coke oven and pellet plant, power plant, and scrap shredding facilities. Its products are used in automotive, general engineering, machinery, and infrastructure and construction sectors. The company was formerly known as Jindal Vijayanagar Steel Limited and changed its name to JSW Steel Limited in June 2005. JSW Steel Limited was founded in 1982 and is based in Mumbai, India.
How the price compares to earnings, assets and cash generation.
You are paying 12.4 years of current profit for each share. The earnings yield is 8.1%. The tracked Metals & Mining median is 12.6× (n=6), so this trades cheaper than its peers.
The market values the company at 3.0× its accounting net worth. High is normal for asset-light businesses and unusual for banks.
This is the only common multiple that accounts for debt — it is what an actual acquirer would look at, because they would inherit the borrowings.
Pays 0.57% of the current price out each year. Remember that yield rises when price falls — check the dividend is covered by cash flow.
Based on the next-year earnings estimate — 16.9× against 12.4× trailing. A forward P/E well below trailing is pricing in an earnings jump; treat the forecast with caution.
You pay 1.6× annual sales. Useful when earnings are depressed or negative and P/E breaks down — but a high multiple needs high margins to justify it.
Returns on capital and margins, the numerical shadow of a moat.
Not available.
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Keeps ₹15.3 of operating profit from every ₹100 of sales. Compare only against companies in the same industry.
Sustained high net margins are evidence that something is stopping competitors from competing the profits away.
Keeps ₹42.3 of gross profit per ₹100 of sales, before operating costs. A high, stable gross margin is the clearest single sign of pricing power.
Leverage and liquidity. This is where fragility shows up first.
A conservative balance sheet that can absorb a downturn without a crisis.
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Against cash of ₹49008.00 Cr. Net debt is what matters, not gross borrowings.
Not available.
Revenue and earnings momentum, and how the two compare.
Ask where the growth came from: more volume, higher prices, or an acquisition. They are very different in quality.
Profits are growing faster than sales — margins are expanding, which is the sign of genuine operating leverage.
EBITDA of ₹34657.25 Cr and operating cash flow of —.
Not available.
The figures quoted per share, and how much profit is handed back to owners.
₹99.75 of profit earned per share over the last twelve months. Price divided by this is the trailing P/E.
The accounting net worth behind each share is ₹409.91; price-to-book compares the market price with this.
Pays out 10% of profit as dividends and retains the rest. Above roughly 85% leaves little to reinvest and is hard to sustain through a weak year.
Market cap plus net debt — closer to what an acquirer actually pays. Against a market cap of ₹3,00,973 Cr.
Nine yes/no tests of profitability, funding and efficiency across the last two years; higher is stronger. A test is dropped only where the data is missing, so the score is out of 9.
NOPAT ÷ invested capital. What the business earns on all its capital, debt and equity — harder to flatter with leverage than ROE.
A company creates value only when ROIC clears its cost of capital (WACC) — judge this figure against the company’s cost of capital, and watch the trend across years.
Five weighted ratios in one bankruptcy early-warning number. Read the zone and, over time, the trend.
In the grey zone — some concern; the direction of travel matters more than the level here.
Reported figures, most recent year first. All values in rupees.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | ₹1,82,037 Cr | ₹1,66,575 Cr | ₹1,72,588 Cr | ₹1,63,646 Cr |
| Cost of revenue | ₹1,12,859 Cr | ₹1,07,694 Cr | ₹1,10,181 Cr | ₹1,08,166 Cr |
| Gross profit | ₹69178.00 Cr | ₹58881.00 Cr | ₹62407.00 Cr | ₹55480.00 Cr |
| Operating expenses | ₹45833.00 Cr | ₹44723.00 Cr | ₹41911.00 Cr | ₹42321.00 Cr |
| Operating income | ₹23345.00 Cr | ₹14158.00 Cr | ₹20496.00 Cr | ₹13159.00 Cr |
| Interest expense | ₹8300.00 Cr | ₹7863.00 Cr | ₹7631.00 Cr | ₹6260.00 Cr |
| Pre-tax income | ₹29250.00 Cr | ₹5077.00 Cr | ₹13380.00 Cr | ₹5655.00 Cr |
| Tax | ₹3742.00 Cr | ₹1586.00 Cr | ₹4407.00 Cr | ₹1516.00 Cr |
| Net profit | ₹22316.00 Cr | ₹3504.00 Cr | ₹8812.00 Cr | ₹4144.00 Cr |