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 ₹ 22,453 Cr.
- Current Price ₹ 20,228
- High / Low ₹ 27,760 / 13,440
- Stock P/E 180
- Book Value ₹ 30,255
- Dividend Yield 0.00 %
- ROCE 0.82 %
- ROE 0.69 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 0.67 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 0.97% 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 63 | 89 | 107 | 121 | 93 | 186 | 407 | 170 | 248 | 172 | |
| 4 | 5 | 5 | 6 | 5 | 6 | 6 | 12 | 14 | 14 | |
| Operating Profit | 59 | 84 | 102 | 115 | 88 | 180 | 401 | 157 | 234 | 158 |
| OPM % | 94% | 95% | 95% | 95% | 95% | 97% | 99% | 93% | 94% | 92% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 59 | 84 | 102 | 115 | 88 | 180 | 401 | 157 | 234 | 158 |
| Tax % | 20% | 19% | 14% | 10% | 25% | 25% | 25% | 25% | 25% | |
| 48 | 70 | 100 | 106 | 75 | 152 | 332 | 156 | 196 | 125 | |
| EPS in Rs | 43.43 | 62.66 | 90.12 | 95.90 | 67.77 | 136.60 | 298.66 | 140.15 | 176.43 | 112.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 10% |
| TTM: | -29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 9% |
| TTM: | -48% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 36% |
| 5 Years: | 44% |
| 3 Years: | 66% |
| 1 Year: | 43% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 1% |
| 3 Years: | 1% |
| Last Year: | 1% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 |
| Reserves | 847 | 8,244 | 8,276 | 7,101 | 12,591 | 19,943 | 19,399 | 25,424 | 31,299 | 33,571 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 2 | 743 | 718 | 600 | 1,443 | 2,802 | 2,629 | 3,816 | 3,955 | 4,283 | |
| Total Liabilities | 860 | 8,998 | 9,005 | 7,712 | 14,045 | 22,756 | 22,039 | 29,251 | 35,265 | 37,865 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 531 | 8,642 | 8,619 | 7,279 | 13,546 | 22,119 | 21,102 | 28,191 | 34,045 | 36,572 |
| 330 | 356 | 387 | 433 | 499 | 637 | 938 | 1,060 | 1,220 | 1,294 | |
| Total Assets | 860 | 8,998 | 9,005 | 7,712 | 14,045 | 22,756 | 22,039 | 29,251 | 35,265 | 37,865 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| 32 | 66 | 89 | 103 | 67 | 130 | 298 | 115 | 169 | |
| -43 | -58 | -87 | -108 | -72 | -131 | -298 | -112 | -170 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Net Cash Flow | -11 | 8 | 2 | -4 | -5 | -1 | 1 | 3 | -1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 13 | 16 | 8 | 3 | 10 | 6 | 2 | 4 | 0 |
| Inventory Days | |||||||||
| Days Payable | |||||||||
| Cash Conversion Cycle | 13 | 16 | 8 | 3 | 10 | 6 | 2 | 4 | 0 |
| Working Capital Days | 74 | 48 | 36 | 35 | 42 | 32 | 14 | 37 | -3 |
| ROCE % | 2% | 1% | 2% | 1% | 1% | 2% | 1% | 1% |
Documents
Announcements
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Disclosure Regarding ESG Rating Under Regulation 30 Of SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015
26 Nov - SES ESG assigned JSW Holdings ESG score 69.6 for 2025 on Nov 25; determined independently.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
7 Nov - 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.
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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.
Annual reports
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Financial Year 2025
from bse
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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
from bse
Revenue Breakup
In FY21, interest on loans accounted for ~53% revenues, followed by dividend income (39%) and pledge fees (8%).[1]