JSW Holdings Ltd

₹ 17,400 -2.50%

29 Aug - 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
In FY21, interest on loans accounted for ~53% revenues, followed by dividend income (39%) and pledge fees (8%).^[1]

Website BSE NSE

Market Cap ₹ 19,314 Cr.
Current Price ₹ 17,400
High / Low ₹ 27,760 / 7,102
Stock P/E 109
Book Value ₹ 28,209
Dividend Yield 0.00 %
ROCE 0.82 %
ROE 0.69 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.62 times its book value
Company is expected to give good quarter

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.

Peer comparison

Financial Services Financial Services Finance Investment Company

Part of BSE 500 Nifty 500 BSE SmallCap BSE Allcap BSE Financial Services BSE 250 SmallCap Index BSE 400 MidSmallCap Index BSE Diversified Financials Revenue Growth Index (I Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market Nifty500 Equal Weight

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	19	337	26	24	26	89	27	27	27	162	29	29	30
	1	2	1	1	3	3	3	3	3	4	3	4	4
Operating Profit	18	335	25	23	23	86	25	24	24	158	26	26	26
OPM %	93%	99%	95%	95%	89%	97%	90%	87%	88%	98%	89%	87%	88%
	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	18	335	25	23	23	86	25	24	24	158	26	26	26
Tax %	25%	25%	25%	25%	26%	26%	26%	18%	25%	25%	25%	26%	25%
	6	255	30	41	24	63	35	33	53	120	14	10	34
EPS in Rs	5.00	229.32	26.97	37.35	21.95	56.94	31.27	29.99	47.37	107.79	12.51	8.76	30.46
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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	251
	4	5	5	6	5	6	6	12	14	15
Operating Profit	59	84	102	115	88	180	401	157	234	236
OPM %	94%	95%	95%	95%	95%	97%	99%	93%	94%	94%
	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	236
Tax %	20%	19%	14%	10%	25%	25%	25%	25%	25%
	48	70	100	106	75	152	332	156	196	177
EPS in Rs	43.43	62.66	90.12	95.90	67.77	136.60	298.66	140.15	176.43	159.52
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	15%
3 Years:	10%
TTM:	47%

Compounded Profit Growth
10 Years:	%
5 Years:	13%
3 Years:	9%
TTM:	-4%

Stock Price CAGR
10 Years:	34%
5 Years:	49%
3 Years:	69%
1 Year:	141%

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
Equity Capital	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
	0	0	0	0	0	0	0	0	0
	2	743	718	600	1,443	2,802	2,629	3,816	3,955
Total Liabilities	860	8,998	9,005	7,712	14,045	22,756	22,039	29,251	35,265
	0	0	0	0	0	0	0	0	0
CWIP	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
	330	356	387	433	499	637	938	1,060	1,220
Total Assets	860	8,998	9,005	7,712	14,045	22,756	22,039	29,251	35,265

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	30
ROCE %		2%	1%	2%	1%	1%	2%	1%	1%

Shareholding Pattern

Numbers in percentages

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 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%	22.38%	22.38%	22.37%	22.38%	21.42%	21.51%	21.71%	22.28%	22.63%	22.61%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.09%	0.11%	0.11%	0.11%	0.21%	0.31%
	11.29%	11.29%	11.28%	11.28%	11.27%	11.28%	12.18%	12.09%	11.89%	11.32%	10.86%	10.79%
	0.01%	0.01%	0.02%	0.02%	0.02%	0.01%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%
No. of Shareholders	19,688	19,507	19,300	19,478	19,677	20,116	21,673	21,870	21,931	24,726	22,550	23,908

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 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%	22.61%
	7.12%	0.08%	0.16%	0.11%	0.06%	0.06%	0.04%	0.09%	0.21%	0.31%
	16.29%	15.39%	13.09%	12.15%	11.60%	11.26%	11.28%	12.18%	10.86%	10.79%
	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	23,908

* 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

Shareholding Pattern

Documents

Announcements

Annual reports