JSW Holdings Ltd

₹ 11,916 1.31%

02 Apr - close price

About

JSW Holdings Ltd is a core investment company (CIC) and is primarily engaged in the business of investing and financing.^[1]

Key Points

Revenue Breakup^[1]
Interest: ~61% in 9MFY26 vs ~42% in FY25
Dividend: ~35% in 9MFY26 vs ~54% in FY25
Pledge Fees: ~1% in 9MFY26 vs ~1% in FY25
Management Advisory Service Fees:
~3% in 9MFY26 vs ~2% in FY25
Gain on Fair value Change: >1% in 9MFY26 vs 1% in FY25.

Website BSE NSE

Market Cap ₹ 13,227 Cr.
Current Price ₹ 11,916
High / Low ₹ 27,760 / 11,250
Stock P/E 110
Book Value ₹ 29,286
Dividend Yield 0.00 %
ROCE 0.85 %
ROE 0.64 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.41 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 0.87% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Finance Investment Company

Part of BSE Allcap BSE Financial Services Nifty500 Equal Weight

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	26	24	26	89	27	27	27	162	29	29	30	84	33
	1	1	3	3	3	3	3	4	3	4	4	4	4
Operating Profit	25	23	23	86	25	24	24	158	26	26	26	80	29
OPM %	95%	95%	89%	97%	90%	87%	88%	98%	89%	87%	88%	96%	89%
	0	0	0	0	0	0	0	0	0	0	0	0	-3
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	25	23	23	86	25	24	24	158	26	26	26	80	26
Tax %	25%	25%	26%	26%	26%	18%	25%	25%	25%	26%	25%	25%	26%
	18	17	17	64	18	19	18	118	19	19	20	60	20
EPS in Rs	16.62	15.64	15.51	57.47	16.42	17.50	16.17	106.55	17.48	17.18	17.72	53.70	17.68
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	43	49	50	63	89	107	121	93	186	407	170	248	176
	2	3	4	4	5	5	6	5	6	6	12	14	15
Operating Profit	41	46	47	59	84	102	115	88	180	401	157	234	161
OPM %	95%	94%	93%	94%	95%	95%	95%	95%	97%	99%	93%	94%	92%
	0	0	0	0	0	0	0	0	0	0	0	0	-3
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	41	46	47	59	84	102	115	88	180	401	157	234	158
Tax %	20%	21%	22%	20%	19%	14%	10%	25%	25%	25%	25%	25%
	33	37	37	47	68	88	104	66	135	300	119	175	118
EPS in Rs	29.69	33.07	32.98	42.69	61.25	79.12	93.75	59.20	121.27	269.93	106.90	157.39	106.28
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	18%
5 Years:	15%
3 Years:	10%
TTM:	-28%

Compounded Profit Growth
10 Years:	17%
5 Years:	11%
3 Years:	9%
TTM:	-31%

Stock Price CAGR
10 Years:	28%
5 Years:	25%
3 Years:	46%
1 Year:	-54%

Return on Equity
10 Years:	1%
5 Years:	1%
3 Years:	1%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	11	11	11	11	11	11	11	11	11	11	11	11	11
Reserves	713	750	786	834	8,103	8,168	7,052	12,496	19,660	18,982	24,463	30,441	32,495
	0	0	0	0	0	0	0	0	0	0	0	0	0
	2	2	2	2	743	718	600	1,443	2,802	2,629	3,816	3,955	4,283
Total Liabilities	726	763	799	847	8,858	8,897	7,663	13,950	22,473	21,622	28,290	34,407	36,789
	0	0	0	0	0	0	0	0	0	0	0	0	0
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	537	533	543	517	8,502	8,511	7,230	13,451	21,836	20,685	27,231	33,187	35,496
	188	229	256	330	356	387	433	499	637	938	1,060	1,220	1,294
Total Assets	726	763	799	847	8,858	8,897	7,663	13,950	22,473	21,622	28,290	34,407	36,789

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	30	37	36	32	66	89	103	67	130	298	115	169
	-30	-38	-25	-43	-58	-87	-108	-72	-131	-298	-112	-170
	0	0	0	0	0	0	0	0	0	0	0	0
Net Cash Flow	-0	-1	11	-11	8	2	-4	-5	-1	1	3	-1
Free Cash Flow	30	37	36	32	66	89	103	67	130	298	115	169
CFO/OP	93%	101%	98%	74%	98%	101%	100%	102%	98%	100%	98%	98%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	31	2	2	13	16	8	3	10	6	2	4	0
Inventory Days
Days Payable
Cash Conversion Cycle	31	2	2	13	16	8	3	10	6	2	4	0
Working Capital Days	71	1,224	454	74	48	36	35	42	32	14	37	-3
ROCE %	6%	6%	6%	7%	2%	1%	2%	1%	1%	2%	1%	1%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Shares Held in JSW Steel Limited
Number of Shares

xxx,xxx,xxx	xxx,xxx,xxx	xxx,xxx,xxx	xxx,xxx,xxx	xxx,xxx,xxx	xxx,xxx,xxx	xxx,xxx,xxx	xxx,xxx,xxx	xxx,xxx,xxx	xxx,xxx,xxx	xxx,xxx,xxx
xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	x,xxx,xxx.xx	x,xxx,xxx.xx	x,xxx,xxx.xx	x,xxx,xxx.xx
x,xxx,xxx	xx,xxx,xxx	xxx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	x,xxx,xxx	xx,xxx,xxx
x.xx	x.xx		x.xx	x.xx	x.xx		x.xx	x.xx	x.xx	x.xx

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Market Value of JSW Steel Investment
₹ Lakhs

Total JSW Steel Shares Pledged
Number of Shares

Percentage Equity Holding in JSW Steel
%

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%
	22.38%	22.38%	22.37%	22.38%	21.42%	21.51%	21.71%	22.28%	22.63%	22.61%	22.64%	22.88%
	0.04%	0.04%	0.04%	0.04%	0.09%	0.11%	0.11%	0.11%	0.21%	0.31%	0.26%	0.12%
	11.28%	11.28%	11.27%	11.28%	12.18%	12.09%	11.89%	11.32%	10.86%	10.79%	10.80%	10.70%
	0.02%	0.02%	0.02%	0.01%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
No. of Shareholders	19,300	19,478	19,677	20,116	21,673	21,870	21,931	24,726	22,550	23,908	24,754	23,928

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	61.42%	61.42%	61.42%	61.42%	61.42%	66.26%	66.28%	66.28%	66.28%	66.28%
	15.06%	22.91%	25.05%	26.04%	26.64%	22.36%	22.38%	21.42%	22.63%	22.88%
	7.12%	0.08%	0.16%	0.11%	0.06%	0.06%	0.04%	0.09%	0.21%	0.12%
	16.29%	15.39%	13.09%	12.15%	11.60%	11.26%	11.28%	12.18%	10.86%	10.70%
	0.11%	0.20%	0.28%	0.28%	0.28%	0.05%	0.02%	0.02%	0.01%	0.01%
No. of Shareholders	22,483	20,771	19,399	18,612	18,134	19,103	19,300	21,673	22,550	23,928

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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JSW Holdings Ltd

JSW Holdings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports