JSW Steel logo

JSW Steel share price

NSE: JSWSTEELBSE: 500228Ferrous MetalsLarge Cap

JSW Steel Limited · Formerly Jindal Vijayanagar Steel · Face value ₹1 · Listed May 1995 on BSE, Mar 2005 on NSE
Last close ₹1,241.20down ₹11.50 (0.92%)BSE ₹1,239.00

Share price at the NSE close on 28 Oct 2026. Previous close ₹1,252.70.

28 Oct: open ₹1,252.70, high ₹1,256.20, low ₹1,231.00

52-week range of traded prices to 28 Oct 2026
₹1,073.20Low, 18 Dec 2025₹1,351.00High, 27 Aug 2026
Market cap
₹3,03,530 Cr26th largest listed
P/E
10.67
P/E without one-offs
27.39
P/B
2.68
Dividend yield
0.57%
ROE
29.0%
ROE without one-offs
11.3%
ROCE
14.3%
Debt to equity
0.58
Volume, NSE
17,71,449

JSW Steel share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

+4.8%over a year

ResultsDividend20-session average 20,31,204 shares a day, 52.7% delivered

About JSW Steel

JSW Steel Limited is an integrated steelmaker in India: it mines iron ore, makes steel and processes it into finished products.1 It makes flat steel, such as hot-rolled, cold-rolled, coated and electrical steel and tinplate, and long steel, such as TMT (concrete reinforcing) bars, wire rods and alloy steel.2 Its customers are in automotive, engineering, machinery and construction, and it also has plants in the United States and Italy.34

By capacity, it describes itself as India's largest steel producer.5 Its own steelmaking capacity in India is in Karnataka, Maharashtra, Tamil Nadu and Chhattisgarh.6 A wholly owned subsidiary, JSW Steel Coated Products, makes tinplate and galvanised, galvalume and colour-coated sheets.7 In the United States it has a steelmaking plant at Mingo Junction and a plate and pipe mill at Baytown, and in Italy a rail mill and port at Piombino.89 It exports to more than 100 countries.10

It was incorporated in 1994.11 It acquired the Dolvi plant in 2010 and Bhushan Power and Steel (BPSL), an Odisha steelmaker, in March 2021 through the insolvency process (the court-led sale of a company that cannot pay its debts).1213 BPSL's steel business is now held by a joint venture (a company owned with a partner) with Japan's JFE Steel.14 JSW Steel is part of the JSW Group, and Sajjan Jindal is the company's Chairman and Managing Director.615 JFE Steel bought a 14.99% stake in the company in 2010 and still holds it.16

JSW Steel key points

Results

  • In the quarter to Jun 2026, consolidated revenue was ₹47,364 crore, adjusted EBITDA ₹9,373 crore (20% margin) and profit after tax ₹4,696 crore. EBITDA is profit before interest, tax, depreciation and amortisation; adjusted EBITDA excludes unrealised currency gains and losses on long-term loans.1718
  • In the year to Mar 2026, consolidated revenue rose 10% to ₹1,85,470 crore and adjusted EBITDA 39.6% to ₹32,048 crore. Net profit was ₹25,508 crore, including a one-off gain of ₹18,051 crore on moving the BPSL steel business into the JFE joint venture.1920
  • Consolidated crude steel (steel before rolling) production of 30.14 million tonnes, up 8%, and sales of 29.63 million tonnes, up 12%, in the year to Mar 2026 were records; they include BPSL's steel business, moved to the JFE joint venture on 27 Mar 2026.21
  • Net debt (borrowings less cash) was ₹46,157 crore at 30 Jun 2026, against ₹76,563 crore at 31 Mar 2025, or 1.46 times a year's EBITDA against 3.34. The company said the JFE deal cuts debt by about ₹37,000 crore, ₹30,000 crore by March 2026.2223

Market position

  • Share of the Indian market by product2425
    Itemyear to Mar 2026
    Galvalume (aluminium-zinc coated) steel56%
    Colour-coated steel48%
    Tinplate46%
    Galvanised steel37%
    Bearing steelabout 32%
    Prestressed concrete strands25%
    Wire rods13%

Sales mix

  • Value-added and special products (steel processed further or made to special grades) rose 14% to 17.57 million tonnes in the year to Mar 2026, 61% of sales volume, and were also 61% in the quarter to Jun 2026.2627

Plants and capacity

  • Steelmaking capacity by plant, million tonnes a year286
    ItemJun 2026
    Vijayanagar19.5
    Dolvi10
    Salem1.2
    Raigarh0.95
    Raipur0.25
    Ohio, United States1.5
    Sambalpur (joint venture with JFE)4.5
    Its capacity in India was 31.9 million tonnes a year at 31 Mar 2026, or 36.4 million tonnes including joint ventures.
  • Its Indian plants ran at about 94% of capacity in the quarter to Jun 2026, against 88% a year earlier; the 94% leaves out a Vijayanagar blast furnace then shut for expansion.29
  • It has 25 iron ore mines, 13 of them operating. It holds 30% of Australia's Illawarra coking coal (coal for making coke) mines and 92.19% of Mozambique's Minas de Revuboè mine, bought in March 2026.3031

Expansion and capital spending

  • In its presentation of 12 Aug 2026, the company said it targets 62 million tonnes a year of steelmaking capacity in India by the year to Mar 2032, besides its joint ventures.32
  • The company stated in its annual report for the year to Mar 2026 that it targets September 2027 to expand Dolvi to 15 million tonnes a year.33
  • On 27 May 2026, it started work on the fully owned Paradeep plant in Odisha, planned in phases up to 13.2 million tonnes a year for an estimated investment of about ₹65,000 crore.34

What the company expects

  • In its presentation of 12 Aug 2026, the company said it expects consolidated production of 29.75 million tonnes and sales of 28.6 million tonnes in the year to Mar 2027, including 0.75 and 0.70 million tonnes from BMM Ispat, excluding the JFE joint venture.35
  • On its earnings call of 17 Jul 2026, the company said it spent ₹4,900 crore on capital projects in the quarter to Jun 2026 and expects to spend ₹22,000 crore to ₹24,000 crore in the year to Mar 2027.36
  • The company stated in its annual report for the year to Mar 2026 that it expects captive sources to supply about 50% of iron ore, against about 33%, and own mines and supply contracts about 50% of coking coal, by the year to Mar 2031.37

Recent events

  • On 16 Oct 2026, the National Company Law Tribunal (a company law court) approved merging Piombino Steel, the subsidiary holding its JFE joint venture stake, into the company; it takes effect once the order is filed with the Registrar of Companies.3814
  • The JFE joint venture bought the BPSL steel business for ₹29,475 crore on 27 Mar 2026; on 30 Jun 2026, JFE paid ₹7,875 crore for a further 25% of the venture, taking its stake to 50% and completing the deal.3940
  • On 20 Apr 2026, the company signed an agreement with South Korea's POSCO Group for a 50:50 joint venture to build a 6 million tonne a year steel plant in Odisha; its annual report of 2 Jul 2026 said this was subject to regulatory approvals.41

Litigation and regulatory matters

  • On 16 Oct 2026, the Orissa High Court ruled on demands of ₹6,96,32,09,199 and ₹14,72,69,47,420 for short iron ore dispatch from the company's Jajang block; the company believes the first stands quashed, and the court set aside the second, sending it back for fresh decision.4243

Last updated

All 43 sources, each with its page
  1. 1. Annual report, 2 Jul 2026, page 128
  2. 2. Annual report, 2 Jul 2026, page 17
  3. 3. Annual report, 2 Jul 2026, page 166
  4. 4. Investor presentation, 12 Aug 2026, page 17
  5. 5. Annual report, 2 Jul 2026, page 128
  6. 6. Exchange filing, 31 Jul 2026, page 3
  7. 7. Annual report, 2 Jul 2026, page 187
  8. 8. Annual report, 2 Jul 2026, page 153
  9. 9. Annual report, 2 Jul 2026, page 154
  10. 10. Annual report, 2 Jul 2026, page 129
  11. 11. Annual report, 2 Jul 2026, page 165
  12. 12. Annual report, 2 Jul 2026, page 145
  13. 13. Annual report, 2 Jul 2026, page 149
  14. 14. Annual report, 2 Jul 2026, page 360
  15. 15. Annual report, 2 Jul 2026, page 11
  16. 16. Investor presentation, 12 Aug 2026, page 55
  17. 17. Earnings call, 17 Jul 2026, page 4
  18. 18. Annual report, 2 Jul 2026, page 186
  19. 19. Annual report, 2 Jul 2026, page 186
  20. 20. Annual report, 2 Jul 2026, page 157
  21. 21. Annual report, 2 Jul 2026, page 155
  22. 22. Exchange filing, 31 Jul 2026, page 2
  23. 23. Annual report, 2 Jul 2026, page 12
  24. 24. Annual report, 2 Jul 2026, page 140
  25. 25. Annual report, 2 Jul 2026, page 141
  26. 26. Annual report, 2 Jul 2026, page 186
  27. 27. Earnings call, 17 Jul 2026, page 3
  28. 28. Investor presentation, 12 Aug 2026, page 19
  29. 29. Earnings call, 17 Jul 2026, page 3
  30. 30. Investor presentation, 12 Aug 2026, page 31
  31. 31. Annual report, 2 Jul 2026, page 189
  32. 32. Investor presentation, 12 Aug 2026, page 26
  33. 33. Annual report, 2 Jul 2026, page 38
  34. 34. Exchange filing, 27 May 2026, page 2
  35. 35. Investor presentation, 12 Aug 2026, page 57
  36. 36. Earnings call, 17 Jul 2026, page 4
  37. 37. Annual report, 2 Jul 2026, page 12
  38. 38. Exchange filing, 17 Oct 2026, page 1
  39. 39. Annual report, 2 Jul 2026, page 157
  40. 40. Exchange filing, 30 Jun 2026, page 1
  41. 41. Annual report, 2 Jul 2026, page 189
  42. 42. Exchange filing, 18 Oct 2026, page 1
  43. 43. Exchange filing, 18 Oct 2026, page 2

Results

Consolidated; ₹ crore.JSW Steel quarterly results

Revenue growth, 12 months
+14.1%
Net profit growth, 12 months
+371.9%

Quarter to Sep 2026, against the quarter before

Revenue
₹54,486 Crup 15.04%
Net profit
₹5,359 Crup 14.12%
Net margin
9.8%

Revenue by quarter

₹41,378 CrDec 24₹44,819 CrMar 25₹43,147 CrJun 25₹45,152 CrSep 25₹45,991 CrDec 25₹51,180 CrMar 26₹47,364 CrJun 26₹54,486 CrSep 26
Peak revenue ₹54,486 Cr, quarter to Sep 2026; lowest ₹41,378 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹719 CrDec 24₹1,501 CrMar 25₹2,209 CrJun 25₹1,646 CrSep 25₹2,410 CrDec 25₹19,243 CrMar 26₹4,696 CrJun 26₹5,359 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue41,37844,81943,14745,15245,99151,18047,36454,486
Net profit7191,5012,2091,6462,41019,2434,6965,359
Net margin1.7%3.3%5.1%3.6%5.2%37.6%9.9%9.8%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Manufacturing of steel, which carries all its revenue.

Valuation

Today, against the company's own history.JSW Steel PE ratio and valuation

Price to earnings

At or below today's level on 63% of 2,275 trading days since May 2017.

LowestHighest
Its median20.09Industry median15.53
Price to book

At or below today's level on 44% of 1,984 trading days since Oct 2018.

LowestHighest
Its median2.77Industry median2.04
Dividend yield

At or below today's level on 35% of 2,455 trading days over the last 10 years.

LowestHighest
Its median0.78%Industry median0.59%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+6.2%+536.7%−83.4%0.6%
3 years+18.3%+74.4%−32.5%0.6%
5 years+20.0%+22.7%−2.9%0.9%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the years to Mar 2023, Mar 2025 and Mar 2026.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026. Foreign institutions include 15.00% held as foreign direct investment: a stake taken in the company directly, such as a foreign parent's, not bought by portfolio investors.JSW Steel shareholding pattern

Shareholding by group

  • Promoters44.30%
  • Foreign institutions26.23%
  • Indian institutions11.34%
  • Governments0.51%
  • Individuals and others17.49%
  • Employee trusts0.15%
Holder
JFE STEEL INTERNATIONAL EUROPE B.V.Foreign direct investment15.00%
JSW TECHNO PROJECTS MANAGEMENT LTDPromoter10.82%
JSW HOLDINGS LIMITEDPromoter7.42%
VIVIDH FINVEST PRIVATE LIMITEDPromoter5.86%
LIFE INSURANCE CORPORATION OF INDIAInsurance companies4.65%
SAHYOG HOLDINGS PRIVATE LIMITEDPromoter4.58%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 12.25% of their shares. Since Jun 2026: promoters +0.01 pts, foreign institutions +0.31 pts, Indian institutions −0.15 pts, mutual funds unchanged.

Mutual fund holdings

304 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 152 of the 187 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 304 funds holding JSW Steel

Bought again
1
Added
125
Cut
62
Held unchanged
115
Sold out
3
Fund
SBI Mutual Fund logoSBI Nifty 50 ETFSBI Mutual Fund1,86,72,5301.15%₹2,340.4 Cr
HDFC Mutual Fund logoHDFC Flexi Cap FundHDFC Mutual Fund1,25,67,7501.45%₹1,575.2 Cr
UTI Mutual Fund logoUTI Nifty 50 ETFUTI Mutual Fund64,03,6571.15%₹802.6 Cr
Nippon India Mutual Fund logoNippon India ETF Nifty 50 BeESNippon India Mutual Fund59,94,4221.15%₹751.3 Cr
SBI Mutual Fund logoSBI Arbitrage FundSBI Mutual Fund58,27,9501.58%₹730.5 Cr
HDFC Mutual Fund logoHDFC Arbitrage FundHDFC Mutual Fund47,10,8252.32%₹590.5 Cr
Kotak Mahindra Mutual Fund logoKotak Arbitrage FundKotak Mahindra Mutual Fund44,69,1750.74%₹560.2 Cr
ICICI Prudential Mutual Fund logoICICI Prudential Nifty 50 ETFICICI Prudential Mutual Fund39,30,4671.15%₹492.6 Cr
SBI Mutual Fund logoSBI Large Cap FundSBI Mutual Fund31,00,0000.74%₹388.6 Cr
SBI Mutual Fund logoSBI Midcap FundSBI Mutual Fund30,00,0001.62%₹376.0 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.JSW Steel insider trading

Bought on the market Sold on the market
  • Others7 purchases, 249 sales₹282 Cr₹59 CrNet₹223 Cr10 pledge filings of unclear kind · 123 off-market moves
  • Promoters and promoter group: no market trade · 72 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

JSW Steel competitors and peers

Iron & Steel, 15 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to JSW Steel in market cap.Metal stocks

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Tata Steel logoTata SteelTATASTEEL2,11,30919.152.07+10.5%+143.1%11.4%11.9%2.36%
Jindal Steel logoJindal SteelJINDALSTEL1,06,91537.462.04+25.5%+4.1%5.6%8.3%0.19%
Steel Authority of India logoSteel Authority of IndiaSAIL66,91511.941.07+9.4%+119.2%9.3%10.6%1.45%
Jindal Stainless logoJindal StainlessJSL56,23816.862.65+11.7%+20.6%17.0%16.0%0.59%
Sarda Energy & Minerals logoSarda Energy & MineralsSARDAEN16,04014.202.18+5.9%+20.8%16.5%14.6%0.44%
NMDC Steel logoNMDC SteelNSLNISP11,479137.200.87+41.6%–0.6%2.7%0.00%
Vedanta Iron and Steel logoVedanta Iron and SteelVISL10,386–1.78––––0.00%
Sandur Manganese & Iron Ores logoSandur Manganese & Iron OresSANDUMA8,25611.512.54+45.2%+45.7%24.5%24.4%0.29%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.JSW Steel dividend history

Dividend per share, ₹, restated for later splits and bonuses

2.3Mar 173.2Mar 184.1Mar 192Mar 206.5Mar 2117Mar 223.4Mar 237.3Mar 242.8Mar 257.1Mar 26
Highest ₹17.35 a share, year to Mar 2022.
Ex-dateTypePer share
7 Jul 2026Final₹7.10
8 Jul 2025Final₹2.80
9 Jul 2024Final₹7.30
11 Jul 2023Final₹3.40
4 Jul 2022Final₹17.35
5 Jul 2021Final₹6.50
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.JSW Steel announcements

JSW Steel share price by year

Each calendar year to 2025.JSW Steel share price history

YearClose at year endChangeHighest closeLowest close
20251,164.80+29.2%1,210.00883.75
2024901.50+2.4%1,039.10780.65
2023880.25+14.6%880.80657.80
2022768.05+17.1%769.40528.45
2021655.95+69.4%763.25366.85
2020387.20+43.4%387.20140.70
2019270.05−12.0%308.85205.75
2018306.75+13.7%417.05264.55
2017269.80+65.8%271.30163.05
2016162.75+57.7%186.2697.25
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 20261,237.701,266.501,227.701,252.701,252.5026,19,98648.3%
26 Oct 20261,195.501,260.001,186.701,260.001,228.8330,96,40547.9%
23 Oct 20261,220.001,223.701,181.901,185.501,196.9522,78,71649.2%
22 Oct 20261,222.001,227.801,200.301,220.001,215.5513,33,17949.0%
21 Oct 20261,245.001,260.901,216.101,222.901,237.3612,51,28743.0%
19 Oct 20261,216.301,247.201,211.301,241.301,236.2133,20,24355.6%
16 Oct 20261,206.001,230.801,194.101,216.301,221.5726,10,24056.0%
15 Oct 20261,176.001,209.201,168.901,200.401,196.5415,47,60343.4%
14 Oct 20261,176.001,184.401,158.001,176.201,172.3029,49,88156.2%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
4 Jan 2017Split0.1000Each share became 10.
31 Oct 2008Price move–Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details

Chairperson and managing director
Sajjan Jindal
At the end of the quarter to Sep 2026
NSE symbol
JSWSTEEL
BSE code
500228
ISIN
INE019A01038
Industry
Ferrous Metals
Former symbols
JSWSTL
Website
www.jsw.in
CIN
L27102MH1994PLC152925
Corporate identity number, the registrar of companies' code for it
Incorporated
1994
Registered office
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai 400051, Maharashtra
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments