JSW Steel Ltd
JSW Steel is primarily engaged in the business of manufacture and sale of Iron and Steel Products.[1]
The company aims to expand its crude steel capacity from 18 MnTPA in FY20 to 45 MnTPA within the next decade.[2]
In 2021, the company completed the acquisition of BPSL and became the largest steel producer in India.[3]
The company is the owner of single largest steel plant in India with a capacity of 12 MnTPA.[4]
- Market Cap ₹ 174,366 Cr.
- Current Price ₹ 721
- High / Low ₹ 790 / 520
- Stock P/E 33.5
- Book Value ₹ 248
- Dividend Yield 2.41 %
- ROCE 26.8 %
- ROE 31.2 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 36.3% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 22.0%
Cons
* 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
Sector: Steel Industry: Steel - Large
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
23,367 | 32,123 | 35,492 | 45,298 | 46,087 | 36,707 | 52,290 | 66,464 | 77,187 | 64,262 | 70,727 | 118,820 | 130,545 | |
18,589 | 26,492 | 29,181 | 36,511 | 37,216 | 30,338 | 40,612 | 52,569 | 58,668 | 51,716 | 51,438 | 86,890 | 114,514 | |
Operating Profit | 4,778 | 5,631 | 6,311 | 8,787 | 8,872 | 6,369 | 11,678 | 13,895 | 18,519 | 12,546 | 19,289 | 31,930 | 16,031 |
OPM % | 20% | 18% | 18% | 19% | 19% | 17% | 22% | 21% | 24% | 20% | 27% | 27% | 12% |
234 | -642 | -109 | -1,366 | 70 | -5,542 | 121 | -175 | 398 | -710 | 253 | 1,145 | 714 | |
Interest | 854 | 1,186 | 1,724 | 2,740 | 2,909 | 3,219 | 3,643 | 3,591 | 3,789 | 4,022 | 3,565 | 3,849 | 4,784 |
Depreciation | 1,379 | 1,708 | 1,974 | 2,726 | 2,784 | 2,847 | 3,025 | 3,054 | 3,421 | 3,522 | 3,781 | 4,511 | 4,872 |
Profit before tax | 2,779 | 2,095 | 2,504 | 1,955 | 3,249 | -5,239 | 5,131 | 7,075 | 11,707 | 4,292 | 12,196 | 24,715 | 7,089 |
Tax % | 28% | 22% | 28% | 32% | 33% | 33% | 30% | 35% | 31% | -23% | 31% | 32% | |
Net Profit | 2,011 | 1,626 | 1,801 | 1,335 | 2,166 | -3,530 | 3,577 | 4,625 | 8,121 | 5,291 | 8,393 | 16,702 | 4,736 |
EPS in Rs | 9.01 | 7.29 | 8.07 | 5.52 | 8.96 | -14.60 | 14.80 | 19.13 | 33.60 | 21.89 | 34.72 | 69.10 | 19.59 |
Dividend Payout % | 17% | 13% | 16% | 25% | 15% | -6% | 19% | 21% | 15% | 11% | 23% | 31% |
Compounded Sales Growth | |
---|---|
10 Years: | 14% |
5 Years: | 18% |
3 Years: | 15% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | 24% |
5 Years: | 36% |
3 Years: | 29% |
TTM: | -72% |
Stock Price CAGR | |
---|---|
10 Years: | 24% |
5 Years: | 20% |
3 Years: | 40% |
1 Year: | 15% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 24% |
3 Years: | 24% |
Last Year: | 31% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
563 | 563 | 563 | 1,067 | 1,067 | 301 | 301 | 497 | 301 | 301 | 302 | 301 | 301 | |
Reserves | 16,133 | 17,934 | 19,374 | 23,217 | 24,657 | 20,109 | 23,797 | 27,605 | 34,592 | 38,061 | 46,675 | 63,200 | 59,652 |
11,951 | 15,930 | 17,908 | 27,184 | 28,134 | 35,658 | 38,273 | 35,986 | 43,706 | 54,710 | 54,962 | 53,186 | 56,653 | |
13,190 | 16,373 | 17,049 | 17,722 | 21,798 | 17,440 | 18,588 | 21,658 | 28,826 | 28,970 | 31,293 | 46,183 | 46,010 | |
Total Liabilities | 41,558 | 50,521 | 54,615 | 68,426 | 74,892 | 73,508 | 80,959 | 85,551 | 107,425 | 122,042 | 133,232 | 162,870 | 162,616 |
21,102 | 27,091 | 27,639 | 37,295 | 38,569 | 46,560 | 50,266 | 49,568 | 51,772 | 50,542 | 51,942 | 71,646 | 72,988 | |
CWIP | 5,708 | 2,504 | 5,075 | 6,857 | 7,790 | 6,439 | 3,027 | 3,392 | 10,443 | 24,141 | 29,042 | 12,599 | 11,869 |
Investments | 4,099 | 4,413 | 4,636 | 4,381 | 4,197 | 4,764 | 5,050 | 4,878 | 5,397 | 5,999 | 12,458 | 18,028 | 20,064 |
10,649 | 16,514 | 17,266 | 19,893 | 24,336 | 15,744 | 22,616 | 27,713 | 39,813 | 41,360 | 39,790 | 60,597 | 57,695 | |
Total Assets | 41,558 | 50,521 | 54,615 | 68,426 | 74,892 | 73,508 | 80,959 | 85,551 | 107,425 | 122,042 | 133,232 | 162,870 | 162,616 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,043 | 2,139 | 3,925 | 5,274 | 8,466 | 5,670 | 8,561 | 12,174 | 15,578 | 14,110 | 17,557 | 23,335 | |
-7,160 | -3,928 | -4,451 | -4,687 | -6,275 | -5,033 | -6,284 | -6,134 | -11,432 | -19,092 | -3,759 | -17,652 | |
5,279 | 1,968 | 124 | -366 | -1,805 | -982 | -2,030 | -6,301 | 725 | 3,054 | -6,115 | -9,134 | |
Net Cash Flow | 162 | 179 | -403 | 220 | 386 | -345 | 247 | -261 | 4,871 | -1,928 | 7,683 | -3,451 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 13 | 15 | 19 | 18 | 16 | 25 | 28 | 26 | 32 | 18 | 17 | 19 |
Inventory Days | 106 | 91 | 78 | 84 | 120 | 123 | 121 | 98 | 100 | 105 | 139 | 158 |
Days Payable | 153 | 162 | 151 | 135 | 175 | 201 | 152 | 136 | 121 | 146 | 158 | 183 |
Cash Conversion Cycle | -35 | -56 | -54 | -34 | -39 | -53 | -3 | -12 | 11 | -23 | -2 | -6 |
Working Capital Days | -63 | -65 | -17 | -18 | -23 | -68 | -33 | -24 | -39 | -57 | -31 | -12 |
ROCE % | 14% | 13% | 13% | 14% | 12% | 7% | 15% | 17% | 22% | 11% | 17% | 27% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1d - Transcripts of the Q3FY23 Earnings Conference Call conducted after the meeting of Board - Disclosure under Regulation 46(2) of the Securities Exchange Board of India …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1d - JSW Steel - Q3 FY23 -Earnings call transcript and audio recording.
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Announcement under Regulation 30 (LODR)-Scheme of Arrangement
24 Jan - Hon''ble NCL, Mumbai Bench passed an order sanctioning the Scheme of Amalgamation of Asian Colour Coated Ispat Limited and Hasaud Steel Limited with JSW Steel …
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Announcement under Regulation 30 (LODR)-Acquisition
24 Jan - Disclosure under Regulation 30 of the SEBI LODR Regulations 2015 - JSW Steel Coated Products Limited has entered into a Shareholders agreement and a share …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
23 Jan - Newspaper Publication of Financial Results for the quarter & nine months ended 31.12.2022.
Annual reports
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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 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Concalls
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Jan 2023TranscriptPPT
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Oct 2022TranscriptPPT
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Jul 2022TranscriptPPT
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May 2022TranscriptPPT
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Jan 2022TranscriptPPT
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Oct 2021Transcript PPT
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Oct 2019Transcript PPT
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Oct 2018Transcript PPT
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Nov 2017Transcript PPT
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Aug 2017Transcript PPT
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May 2017TranscriptPPT
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Jan 2017TranscriptPPT
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Oct 2016TranscriptPPT
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Jul 2016Transcript PPT
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Feb 2016Transcript PPT
Product Portfolio
The company's diversified portfolio comprises products under hot-rolled, cold-rolled, galvanneal, galvanised/galvalume, pre-painted, tinplate, electrical steel, TMT bar, wire rod, special steel bar, round and bloom categories.[1]