JSW Holdings Ltd
JSW Holdings Ltd is a core investment company (CIC) and is primarily engaged in the business of investing and financing.[1]
- Market Cap ₹ 18,917 Cr.
- Current Price ₹ 17,042
- High / Low ₹ 27,760 / 13,350
- Stock P/E 161
- Book Value ₹ 29,286
- Dividend Yield 0.00 %
- ROCE 0.85 %
- ROE 0.64 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 0.58 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | 172 | |
| 2 | 3 | 4 | 4 | 5 | 5 | 6 | 5 | 6 | 6 | 12 | 14 | 14 | |
| Operating Profit | 41 | 46 | 47 | 59 | 84 | 102 | 115 | 88 | 180 | 401 | 157 | 234 | 158 |
| 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 | 0 | |
| 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 | 106.08 |
| 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: | -29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 11% |
| 3 Years: | 9% |
| TTM: | -32% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 33% |
| 5 Years: | 43% |
| 3 Years: | 58% |
| 1 Year: | 10% |
| 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 |
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% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Copies of newspaper publication containing an extract of financial results in published in Financial express (English) and Mumbai Lakshadeep(Regional)
- Financial Results Of The Company For The Second Quarter And Half Year Ended September 30, 2025 6 Nov
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Board Meeting Outcome for Outcome Of Board Meeting
6 Nov - Unaudited Q2/H1 results approved (30 Sep 2025); profit ₹5,960.73 lakhs; FV gains ₹3,14,529.49 lakhs.
-
Board Meeting Intimation for Approval Of Unaudited Standalone & Consolidated Financial Results Of The Company For The Second Quarter And Half Year Ended September 30, 2025.
24 Oct - Board meeting Nov 6, 2025 to approve unaudited Q2/H1 results for Sep 30; trading window opens 48 hours later.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Oct - Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulation, 2018 for the quarter ended September 30, 2025
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Revenue Breakup
In FY21, interest on loans accounted for ~53% revenues, followed by dividend income (39%) and pledge fees (8%).[1]