JSW Holdings Ltd

₹ 11,161 -1.13%

24 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^[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 ₹ 12,411 Cr.
Current Price ₹ 11,161
High / Low ₹ 22,839 / 10,500
Stock P/E 89.2
Book Value ₹ 29,741
Dividend Yield 0.00 %
ROCE 0.59 %
ROE 0.46 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.38 times its book value
Market value of investments Rs.20,886 Cr. is more than the Market Cap Rs.12,411 Cr.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 0.60% 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 Nifty Smallcap 500 BSE 500 BSE Financial Services BSE 250 SmallCap Index BSE 400 MidSmallCap Index BSE Diversified Financials Revenue Growth BSE 1000

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	26	89	27	27	27	162	29	29	30	84	33	33	35
	3	3	3	3	3	4	3	4	4	4	4	12	6
Operating Profit	23	86	25	24	24	158	26	26	26	80	29	21	29
OPM %	89%	97%	90%	87%	88%	98%	89%	87%	88%	96%	89%	63%	84%
	0	0	0	0	0	0	0	0	14	0	-3	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	23	86	25	24	24	158	26	26	40	80	26	21	32
Tax %	26%	26%	26%	18%	25%	25%	25%	26%	16%	25%	26%	36%	24%
	24	63	35	33	53	120	14	10	34	67	32	14	25
EPS in Rs	21.95	56.94	31.27	29.99	47.37	107.79	12.51	8.76	30.46	60.52	28.94	12.20	22.11
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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	Mar 2026	TTM
	63	89	107	121	93	186	407	170	248	179	184
	4	5	5	6	5	6	6	12	14	14	25
Operating Profit	59	84	102	115	88	180	401	157	234	165	159
OPM %	94%	95%	95%	95%	95%	97%	99%	93%	94%	92%	86%
	0	0	0	0	0	0	0	0	21	23	1
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	59	84	102	115	88	180	401	157	255	188	160
Tax %	20%	19%	14%	10%	25%	25%	25%	25%	23%	22%
	48	70	100	106	75	152	332	156	196	147	137
EPS in Rs	43.43	62.66	90.12	95.90	67.77	136.60	298.66	140.15	176.43	132.12	123.77
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	14%
3 Years:	-24%
TTM:	-27%

Compounded Profit Growth
10 Years:	%
5 Years:	15%
3 Years:	-23%
TTM:	-21%

Stock Price CAGR
10 Years:	24%
5 Years:	17%
3 Years:	36%
1 Year:	-38%

Return on Equity
10 Years:	1%
5 Years:	1%
3 Years:	1%
Last Year:	0%

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	Mar 2026
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	33,000
	0	0	0	0	0	0	0	0	0	0
	2	743	718	600	1,443	2,802	2,629	3,816	3,955	4,191
Total Liabilities	860	8,998	9,005	7,712	14,045	22,756	22,039	29,251	35,265	37,203
	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	35,849
	330	356	387	433	499	637	938	1,060	1,220	1,353
Total Assets	860	8,998	9,005	7,712	14,045	22,756	22,039	29,251	35,265	37,203

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	Mar 2026
	32	66	89	103	67	130	298	115	169	140
	-43	-58	-87	-108	-72	-131	-298	-112	-170	-140
	0	0	0	0	0	0	0	0	0	-1
Net Cash Flow	-11	8	2	-4	-5	-1	1	3	-1	-1
Free Cash Flow	32	66	89	103	67	130	298	115	169	140
CFO/OP	74%	98%	101%	100%	102%	98%	100%	98%	98%	110%

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	Mar 2026
Debtor Days	13	16	8	3	10	6	2	4	0	4
Inventory Days
Days Payable
Cash Conversion Cycle	13	16	8	3	10	6	2	4	0	4
Working Capital Days	74	48	36	35	42	32	14	37	-3	-6
ROCE %		2%	1%	2%	1%	1%	2%	1%	1%	1%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Book Value per Share (Standalone)
INR ・Standalone data

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

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Dividend Income from JSW Steel
INR Lakhs ・Standalone data

Interest Income from Loans
INR Lakhs ・Standalone data

Loan Book to Group Companies
INR Lakhs ・Standalone data

Market Capitalization
INR Lakhs ・Standalone data

Number of JSW Steel Equity Shares Held
shares ・Standalone data

Pledged Shares of JSW Steel
shares ・Standalone data

Fair Value of Investment in JSW Steel
INR Lakhs ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%	66.28%
	22.37%	22.38%	21.42%	21.51%	21.71%	22.28%	22.63%	22.61%	22.64%	22.88%	22.65%	22.28%
	0.04%	0.04%	0.09%	0.11%	0.11%	0.11%	0.21%	0.31%	0.26%	0.12%	0.09%	0.18%
	11.27%	11.28%	12.18%	12.09%	11.89%	11.32%	10.86%	10.79%	10.80%	10.70%	10.97%	11.24%
	0.02%	0.01%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
No. of Shareholders	19,677	20,116	21,673	21,870	21,931	24,726	22,550	23,908	24,754	23,928	25,929	28,192

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	61.42%	61.42%	61.42%	61.42%	61.42%	66.26%	66.28%	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%	22.65%	22.28%
	7.12%	0.08%	0.16%	0.11%	0.06%	0.06%	0.04%	0.09%	0.21%	0.09%	0.18%
	16.29%	15.39%	13.09%	12.15%	11.60%	11.26%	11.28%	12.18%	10.86%	10.97%	11.24%
	0.11%	0.20%	0.28%	0.28%	0.28%	0.05%	0.02%	0.02%	0.01%	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	25,929	28,192

* 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