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JSW Steel Limited (JSWSTEEL) Fair Value & Analysis

Basic Materials · IN · Market cap ₹3.0T

JS JSW Steel Limited JSWSTEEL · NSE
Price₹1,308
Fair Value₹1,140
Upside-12.9%
Quality59/100
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Expensive Growth
Solidly profitable · 12.0% net margin
Moderate debt · generates free cash flow
0.57% dividend yield
Mixed vs. peers (7/14)
Wide moat 65/100
Evidence: High Range ₹733.61 – ₹1,703 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 23 days ago

Share price +4.9% over the past month.

A solid business, but screening 13% overvalued on our models.

What matters now

  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹733.61 to ₹1,703) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹1,330 ₹502.25 Fair Value ₹1,140 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range ₹502.25 – ₹1,330 · fair‑value band ₹733.61 – ₹1,703 · the ₹1,308 price screens above the ₹1,140 fair value. Dashed = 300-day average. As of Jul 15, 2026.

Full chart & analysis →

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Analysis

JSW Steel Limited (JSWSTEEL) currently trades at ₹1,308, while our model-based Fair Value estimate is ₹1,140, implying the stock looks roughly 12.9% overvalued today. We read business quality at 59/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, JSW Steel Limited generated revenue of ₹1.9T at a net margin of 12.0%. Revenue grew 14.2% year over year. It earns a return on equity of 27.3%. Net debt stands at ₹583B. Fundamentals as of Jul 15, 2026

Our scenario range runs from ₹733.61 (bear case) to ₹1,703 (bull case); at ₹1,308, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 2% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -25% fair-value upside, at -13%, JSWSTEEL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ₹110.84 ₹336.99 80
Residual Income ₹666.49 ₹967.37 ₹6,950 76
Rev-Margin DCF ₹434.41 ₹1,027 ₹1,828 74
All 26 models by family
DCF Models
FCF DCF ₹126.20 ₹385.31 38
Owner Earnings ₹881.66 ₹1,900 ₹3,863 31
5Y Revenue Exit ₹434.41 ₹1,062 ₹1,966 39
5Y EBITDA Exit ₹689.14 ₹1,610 ₹2,832 41
5Y P/E Exit ₹808.83 ₹1,868 ₹3,149 38
10Y Revenue Exit ₹268.65 ₹834.40 ₹1,804 36
10Y EBITDA Exit ₹473.06 ₹1,256 ₹2,578 37
10Y P/E Exit ₹555.71 ₹1,454 ₹2,861 35
Earnings-Based
Graham-Dodd ₹621.71 ₹3,322 ₹4,602 54
Lynch FV ₹917.11 ₹1,310 ₹1,703 50
PEG = 1.0 ₹917.11 ₹1,310 ₹1,703 46
EPV ₹533.27 ₹652.40 ₹758.30 59
Dividend Discount
Gordon GGM ₹27.00 ₹58.93 ₹99.16 70
DDM Multi-Stage ₹27.00 ₹48.28 ₹61.42 61
Multiples
P/E Multiple ₹1,371 ₹1,829 ₹2,286 63
P/S Multiple ₹1,166 ₹1,554 ₹1,943 58
P/B Multiple ₹922.31 ₹1,230 ₹1,537 55
EV/EBIT ₹976.52 ₹1,349 ₹1,722 53
EV/EBITDA ₹1,049 ₹1,446 ₹1,844 54
EV/Revenue ₹612.02 ₹935.10 ₹1,258 43
Asset-Based
NCAV (Graham) ₹204.96 ₹274.64 ₹409.91 50
Growth DCF
Growth DCF ₹110.84 ₹336.99 80
Rev-Margin DCF ₹434.41 ₹1,027 ₹1,828 74
Economic Profit
Residual Income ₹666.49 ₹967.37 ₹6,950 76
ROIC Compounder ₹605.50 ₹937.68 ₹1,281 72
Growth Earnings
Growth-Adj P/E ₹1,319 ₹1,884 ₹2,450 68

Widest divergence: Growth Earnings (₹1,884) versus Dividend Discount (₹48.28). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) ₹1.9T
Revenue growth (YoY) +14.2%
Net margin 12.0%
Return on equity 27.3%
Free cash flow ₹22.7B FY2026
P/E ratio 13.5
More key figures
Operating margin 18.8%
EPS (TTM) ₹91.21
Dividend yield 0.6%
EPS growth (YoY) +992%
Net debt ₹583B FY2026

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 49 · Market factors (momentum, volatility) 70

Profitability 54
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 20
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

JSW Steel Limited manufactures and sells iron and steel products in India and internationally. The company offers color coated steel products, color-coated roofing sheets, galvalume coil and sheets, aluminum-zinc sheets, galvanized corrugated sheets, tin plate products, lead-free coils and sheets, Al-Zn-Mg coated galvanized steel, multi-utility steel …

Full company description

JSW Steel Limited manufactures and sells iron and steel products in India and internationally. The company offers color coated steel products, color-coated roofing sheets, galvalume coil and sheets, aluminum-zinc sheets, galvanized corrugated sheets, tin plate products, lead-free coils and sheets, Al-Zn-Mg coated galvanized steel, multi-utility steel sheets, hot rolled and cold-rolled coils, cold rolled close annealed, electrical, coated steel products, TMT bars, wire rods, alloy steel products, and steel doors under the JSW Silveron+, JSW Radiance, JSW Everglow, JSW Colouron+, JSW Pragati+, JSW Vishwas, JSW Vishwas+, JSW Galvos, JSW Galveco, JSW Platina, JSW Neosteel, JSW Trusteel, JSW Avante, and JSW Magsure brands. It also trades in steel and allied products, and iron ore products; logistic infrastructure, real estate, and mining; and manufactures paints, forged steel ball, slabs, plates, pipes, and double jointing. In addition, the company engages in the production of gaseous and liquid form of oxygen, nitrogen, argon, and other products recoverable from separation of air; scrap shredding; management of logistic infrastructure of piombinos port area; and operation of coke oven and pellet plant, and steel plants. Its products are used in automotive, general engineering, machinery, projects, and construction sectors. The company was formerly known as Jindal Vijayanagar Steel Limited and changed its name to JSW Steel Limited in June 2005. JSW Steel Limited was founded in 1982 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

JSW Steel Limited reported revenue of ₹1.9T in FY2026 versus ₹1.5T in FY2022, a compound +6.1%/yr. Reported net income was ₹223B in FY2026, compounding +1.9%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹1.9T
Latest YoY
+9.9%
Avg. growth/yr (3Y)
+3.8%
Avg. growth/yr (5Y)
+18.4%
Avg. growth/yr (21Y)
+17.1%
Revenue +6.1%/yr
FY22 ₹1.5T
FY23 ₹1.7T
FY24 ₹1.8T
FY25 ₹1.7T
FY26 ₹1.9T
Net income +1.9%/yr
FY22 ₹207B
FY23 ₹41.4B
FY24 ₹88.1B
FY25 ₹35.0B
FY26 ₹223B

JSWSTEEL screens 13% overvalued. Compare with Tata Steel Limited →

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Cite: Fair Value Calculator (2026). "JSW Steel Limited Fair Value". https://www.fairvalue-calculator.com/stock/JSWSTEEL

Peer Group

Steel · 381 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 59 · Top 25%
Fair Value upside −13% · Below median
Return on equity (TTM) 27% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 14% · Top 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.76× · Higher than 75% of peers

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 13.5× · Cheaper than median
P/B 2.99× · Pricier than 75% of peers
P/S (TTM) 1.62× · Pricier than 75% of peers
P/FCF 1.4× · Pricier than median
EV/EBITDA 10.3× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 16 · sector 21
FUTURE 71 · sector 2
PAST 100 · sector 14
HEALTH 62 · sector 95
DIVIDEND 11 · sector 41

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Tata Steel Limited TTST $0.2010 $0.2000 -0%
Baoshan Iron & Steel Co 600019 ¥5.89 ¥8.07 +37%
China Steel Corporation 2002A 38.55 TWD 8.74 TWD -77%
POSCO Holdings 005490 313,500 KRW 155,270 KRW -50%
Companhia Siderúrgica Nacional, SID 13,670 ARS 15,940 ARS +17%
Jindal Steel Limited JINDALSTEL ₹1,028 ₹545.12 -47%
Lloyds Metals and Energy Limited LLOYDSME ₹1,844 ₹1,098 -40%
SSAB AB SSABA kr 96.04 kr 72.43 -25%
Gerdau S.A GGBN 83.50 MXN 42.64 MXN -49%
Ternium S.A TXR 17,780 ARS 27,210 ARS +53%

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Frequently asked questions

Is JSW Steel Limited (JSWSTEEL) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of ₹1,140 versus a price of ₹1,308, about −13% (overvalued).
What is the fair value of JSWSTEEL?
Our model-based fair value for JSW Steel Limited is ₹1,140 (as of Jul 15, 2026), built from audited fundamentals. The current price is ₹1,308.
What is the quality score of JSWSTEEL?
JSW Steel Limited has a Quality Score of 59/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of JSW Steel Limited (JSWSTEEL)?
JSW Steel Limited reported trailing-twelve-month revenue of about ₹1.9T (latest available figure, as of Jul 15, 2026).
What is the net profit margin of JSWSTEEL?
The net profit margin of JSW Steel Limited is about 12.0%, meaning it keeps roughly 12.0% of revenue as net income. Based on the latest reported figures.
Does JSW Steel Limited pay a dividend?
JSW Steel Limited currently shows a dividend yield of about 0.55% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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