JSW Steel
Stock Snapshot
Price Performance
Vista Outlook
View Technicals Analysis →Basis of our Recommendation
JSW Steel's outlook is shaped by management's commitment to aggressive capacity expansion and vertical integration, which are expected to enhance long-term margins and revenue growth. The company's strategic focus on increasing its share of value-added products and improving operational efficiencies, particularly through the development of the 30 MTPA slurry pipeline, positions it well to navigate near-term challenges such as elevated coking coal costs and geopolitical supply chain disruptions. Vista's financial outlook reflects stable revenue growth, although margins may face pressure due to fluctuating input costs. The anticipated recovery in domestic demand, particularly in infrastructure and automotive sectors, supports a constructive revenue trajectory. However, the company must remain vigilant regarding rising import competition and potential regulatory challenges. Over the next 12-24 months, key opportunities include the successful ramp-up of new capacities and the strategic shift towards high-margin products, while headwinds may arise from global price volatility and cost inflation. Overall, JSW Steel's disciplined execution and robust balance sheet provide a solid foundation for achieving its long-term growth targets
Why We Like This Stock
- Aggressive capacity expansion and vertical integration strategies are expected to enhance long-term margins
- Strong domestic demand in infrastructure and automotive sectors supports stable revenue growth
- Management's focus on value-added products and operational efficiencies positions the company favorably
Things To Watch Out For
- Elevated coking coal costs and geopolitical supply chain disruptions may pressure margins
- Rising import competition poses a risk to market share and pricing power
- Potential regulatory challenges could impact export competitiveness and operational costs
Key Parameters
Financial Snapshot
| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 175,006 | 168,824 | 185,470 | 190,240 | 209,134 |
| Profit Before Tax (Cr.) | 12,884 | 5,698 | 46,609 | 37,613 | 32,533 |
| PBT Margin | 7.4% | 3.4% | 2513.0% | 19.8% | 15.6% |
| Net Profit (Cr.) | 10,366 | 3,469 | 40,553 | 32,650 | 26,018 |
| Earnings Per Share | 41.8 | 14.3 | 153.1 | 123.3 | 106.6 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Anand Rathi | ▼ Sell | 1,480 | 18-Jul-2026 |
| Citigroup | ▼ Sell | 1,100 | 20-Jul-2026 |
| Elara Capital | ▼ Reduce | 1,149 | 15-May-2026 |
| Goldman Sachs | ▲ Buy | 1,525 | 20-Jul-2026 |
| HDFC Securities | ▲ Buy | 1,278 | 18-May-2026 |
| HSBC | ▲ Buy | 1,540 | 11-Jun-2026 |
| IDBI Capital | ▲ Buy | 1,332 | 20-Jul-2026 |
| Investec | ▲ Buy | 1,525 | 20-Apr-2026 |
| JMFinancials | ▲ Buy | 1,460 | 20-Jul-2026 |
| JPMorgan | ▲ Buy | 1,500 | 20-Jul-2026 |
| Jeffries | ▲ Buy | 1,650 | 20-Jul-2026 |
| Kotak Securities | ▲ Buy | 1,450 | 20-Jul-2026 |
| Macguire | ▲ Buy | 1,353 | 15-May-2026 |
| Mirae Asset | ▲ Buy | 1,500 | 19-Jun-2026 |
| Moneycontrol | ▲ Overweight | nan | 20-Jul-2026 |
| Morgan Stanley | ▲ Overweight | 1,470 | 20-Jul-2026 |
| Motilal Oswal | ▲ Buy | 1,470 | 18-Jul-2026 |
| Nomura | ▲ Buy | 1,400 | 29-May-2026 |
| Prabhudas Liladhar | ▲ Buy | 1,351 | 19-Jul-2026 |
| UBS | ► Hold | 1,400 | 15-Jun-2026 |
Company Overview
Show Company Profile
JSW Steel Limited manufactures and sells iron and steel products in India and internationally. The company offers hot and cold rolled steel products, colour coated sheets, galvanized and galvalume steel, electrical steel, steel doors, zinc-magnesium-aluminium products, aluminium-zinc roofing products, tin plate, TMT bars, wire rods, special alloy steel, grinding media, prepainted colour coated steel, low-carbon steel, hot-rolled sheets, structural steel, and low relaxation pre-stressed concrete steel strands under the JSW Neosteel, JSW Neostrands, JSW Neosteel Fastbuild, JSW Trusteel, JSW Colouron+, JSW Everglow, JSW Vishwas, JSW Platina, JSW Magsure, JSW Galveco, JSW Silveron+, JSW Pragati+, JSW Vishwas+, JSW Galvos, JSW Avante, JSW ColourFrame, JSW Endura+, JSW Radiance brands. It also engages in acquisition and investment in steel related and allied businesses, and trading in steel products; real estate; production and distribution of special long steel products; management of logistic infrastructure of Piombino's port area; produces forged steel balls; manufactures plates, pipes and double jointing, slabs, and hot rolled coils; produces gaseous and liquid form of oxygen, nitrogen, argon, and other products recoverable from separation of air; mining; and construction and development of residential township. In addition, the company trades in iron ore, steel, and allied activities; and provides steel plant, coke oven and pellet plant, power plant, and scrap shredding facilities. Its products are used in automotive, general engineering, machinery, and infrastructure 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 based in Mumbai, India.