Unclassified · NSE: JSWSTEEL
JSW Steel share analysis
Fair value, business quality, the case for and against, and the risks — computed by VestCall from reported data, updated 14 October 2026.
JSW Steel in one paragraph
JSW Steel (NSE: JSWSTEEL) was trading at ₹1,173.3 on 14 October 2026. VestCall scores its business health 75/100 (healthy). On valuation, the price sits in the “Fairly Valued” zone (₹1,139.91 – ₹1,174.9) — inside the modelled fair-value range. This is a reading of the evidence, not a buy or sell recommendation.
- Share price₹1,173.3
- Business health75/100
- Growth85/100
- Financial strength65/100
- Valuation30/100 · Fair
- Valuation zoneFairly Valued
- RiskMedium
Is JSW Steel overvalued or undervalued?
At ₹1,173.3, JSW Steel sits in VestCall’s “Fairly Valued” zone (₹1,139.91 – ₹1,174.9): inside the modelled fair-value range. Its valuation scores 30/100 (fair) against Unclassified peers. Zones describe where the price sits against modelled value; they are not an instruction to buy or sell.
| Valuation zone | Price band | What it means |
|---|---|---|
| Deeply Discounted | ₹1,062.04 – ₹1,131.5 | Furthest below the modelled fair-value range |
| Attractive Valuation | ₹1,131.5 – ₹1,139.91 | Below the modelled fair-value range |
| Fairly Valued (current) | ₹1,139.91 – ₹1,174.9 | Inside the modelled fair-value range |
| Valuation Premium | ₹1,174.9 and above | Above the modelled fair-value range |
The case for and against JSW Steel
What supports the case
- Capital Allocation · 100/100.
- Business Quality · 84/100.
- Growth · 75/100.
- Shareholding Quality · 69/100.
- Financial Strength · 65/100.
- Management Stability · 61/100.
What needs proof
No measured pillar is currently below the strong range.
JSW Steel key ratios
| Ratio | JSW Steel | Unclassified median |
|---|---|---|
| P/E | 15.67x | — |
| P/B | 0.58x | — |
| P/S | 0.27x | — |
| Return on equity (ROE) | 29.8% | — |
| Return on capital employed (ROCE) | 34.1% | — |
| Operating margin | 15.7% | — |
| Net margin | 13.7% | — |
| Current ratio | 1.04x | — |
JSW Steel growth
Growth scores 85/100, with a positive trend, measured Mar 2023 to Mar 2026.
| Measure | Reading |
|---|---|
| Revenue CAGR | 3.8% |
| Net profit CAGR | 83.3% |
| EPS CAGR | 74.3% |
| Revenue growth, latest year | 10.2% |
| Profit growth, latest year | 630.7% |
JSW Steel bull, base and bear case
Modelled annual return under three sets of stated assumptions over 5 years. These are model outputs, not a forecast or a promise of return.
| Scenario | Modelled CAGR | Weight | Assumption |
|---|---|---|---|
| Bear | +5.0% | 19% | Growth decelerates to 9% and the multiple de-rates toward the cohort's trough. |
| Base | +25.0% | 55% | Earnings compound near the measured 25% and the multiple drifts toward its quality-adjusted warranted level. |
| Bull | +38.5% | 26% | Growth holds at 35% and the market pays the full premium the measured quality supports. |
Risks to watch in JSW Steel
| Review trigger | Current | Threshold | Status |
|---|---|---|---|
| Revenue growth falls below the thesis floor | 3.79% | below 8% | high · breached |
| Return on equity falls below the quality floor | 29.78% | below 15% | high · armed |
| Promoter holding drops materially | 44.29% | below 42.32%, 3 points under the Mar 2026 filing | high · armed |
| Price runs more than two sigma above its own trend | 1173.3 | at or above 1795.08 | medium · armed |
| Drawdown from the 52-week high exceeds tolerance | 12.51% | at or beyond 25% | low · armed |
| Leverage doubles from the level underwritten today | No leverage line in the balance sheet | unavailable | high · unmeasurable |
| Promoter pledge rises above tolerance | No pledge disclosed (the NSE filing for JSWSTEEL could not be read either (nse_session_unavailable)) | above 10% | high · unmeasurable |
| Valuation reaches the top of its own cohort | No cohort multiple to rank against | at or above the 95th percentile | medium · unmeasurable |
An armed trigger is watched and has not fired; a breached one has.
How JSW Steel shares have traded
| Measure | Reading |
|---|---|
| 52-week range | ₹1,079.3 – ₹1,341 |
| Distance from 52-week high | −12.5% |
| Return, 3 months | −6.0% |
| Return, 12 months | +1.2% |
| Trend | Sideways |
| Annualised volatility | 25.2% |
| Deepest drawdown, 2 years | −14.9% |
Questions about JSW Steel shares
Is JSW Steel overvalued or undervalued?
At ₹1,173.3, JSW Steel sits in VestCall’s “Fairly Valued” zone (₹1,139.91 – ₹1,174.9): inside the modelled fair-value range. Its valuation scores 30/100 (fair) against Unclassified peers. Zones describe where the price sits against modelled value; they are not an instruction to buy or sell.
Is JSW Steel fundamentally strong?
VestCall scores JSW Steel’s business health 75/100 (healthy). The strongest measured pillars are capital allocation and business quality. Each pillar is computed from reported financials, and a pillar whose inputs were not reported is excluded rather than scored as zero.
What is JSW Steel’s P/E ratio?
JSW Steel trades at a P/E of 15.67x, on VestCall’s latest read. A multiple only means something against the business it buys: the quality-adjusted fair value on this page weighs it against JSW Steel’s returns and growth.
What are the risks of investing in JSW Steel?
The review triggers VestCall watches for JSW Steel are: revenue growth falls below the thesis floor (revenue cagr below 8%); return on equity falls below the quality floor (roe below 15%); promoter holding drops materially (promoter holding below 42.32%, 3 points under the Mar 2026 filing). A trigger is a named condition that would change the reading, published so the case against the stock is as visible as the case for it.
Is this a recommendation to buy or sell JSW Steel?
No. VestCall states where JSW Steel’s price sits against modelled value, what supports the case and what would break it, with every figure sourced. It does not issue buy, sell or hold calls or price targets. Vestmind is not a SEBI-registered investment adviser or research analyst, and nothing on this page is personalised investment advice.
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