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JSW Steel

NSEI:JSWSTEEL
Snowflake Description

Solid track record second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JSWSTEEL
NSEI
₹665B
Market Cap
  1. Home
  2. IN
  3. Materials
Company description

JSW Steel Limited manufactures and sells steel products in India. The last earnings update was 40 days ago. More info.


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JSWSTEEL Share Price and Events
7 Day Returns
3.1%
NSEI:JSWSTEEL
-2.7%
IN Metals and Mining
-0.1%
IN Market
1 Year Returns
-7.7%
NSEI:JSWSTEEL
-25.1%
IN Metals and Mining
-3.7%
IN Market
JSWSTEEL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
JSW Steel (JSWSTEEL) 3.1% -4.6% 7% -7.7% 116.5% 130.3%
IN Metals and Mining -2.7% -10.8% 4.2% -25.1% 55.6% -11%
IN Market -0.1% -5% 5.7% -3.7% 34.5% 38.6%
1 Year Return vs Industry and Market
  • JSWSTEEL outperformed the Metals and Mining industry which returned -25.1% over the past year.
  • JSWSTEEL underperformed the Market in India which returned -3.7% over the past year.
Price Volatility
JSWSTEEL
Industry
5yr Volatility vs Market

Value

 Is JSW Steel undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for JSW Steel. This is due to cash flow or dividend data being unavailable. The share price is ₹285.5.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for JSW Steel's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are JSW Steel's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:JSWSTEEL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹37.35
BSE:500228 Share Price ** BSE (2019-05-20) in INR ₹285.75
India Metals and Mining Industry PE Ratio Median Figure of 140 Publicly-Listed Metals and Mining Companies 9.55x
India Market PE Ratio Median Figure of 2,759 Publicly-Listed Companies 15.1x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of JSW Steel.

NSEI:JSWSTEEL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:500228 Share Price ÷ EPS (both in INR)

= 285.75 ÷ 37.35

7.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JSW Steel is good value based on earnings compared to the IN Metals and Mining industry average.
  • JSW Steel is good value based on earnings compared to the India market.
Price based on expected Growth
Does JSW Steel's expected growth come at a high price?
Raw Data
NSEI:JSWSTEEL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts
-4.3%per year
India Metals and Mining Industry PEG Ratio Median Figure of 23 Publicly-Listed Metals and Mining Companies 0.64x
India Market PEG Ratio Median Figure of 558 Publicly-Listed Companies 1.25x

*Line of best fit is calculated by linear regression .

NSEI:JSWSTEEL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.65x ÷ -4.3%

-1.77x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JSW Steel earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on JSW Steel's assets?
Raw Data
NSEI:JSWSTEEL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹138.17
BSE:500228 Share Price * BSE (2019-05-20) in INR ₹285.75
India Metals and Mining Industry PB Ratio Median Figure of 166 Publicly-Listed Metals and Mining Companies 0.96x
India Market PB Ratio Median Figure of 3,638 Publicly-Listed Companies 1.02x
NSEI:JSWSTEEL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:500228 Share Price ÷ Book Value per Share (both in INR)

= 285.75 ÷ 138.17

2.07x

* Primary Listing of JSW Steel.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JSW Steel is overvalued based on assets compared to the IN Metals and Mining industry average.
X
Value checks
We assess JSW Steel's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. JSW Steel has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is JSW Steel expected to perform in the next 1 to 3 years based on estimates from 26 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is JSW Steel expected to grow at an attractive rate?
  • JSW Steel's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 7.6%.
Growth vs Market Checks
  • JSW Steel's earnings are expected to decrease over the next 1-3 years, this is below the India market average.
  • JSW Steel's revenue growth is positive but not above the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:JSWSTEEL Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:JSWSTEEL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts -4.3%
NSEI:JSWSTEEL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 26 Analysts 7%
India Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 9.4%
India Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 6.2%
India Market Earnings Growth Rate Market Cap Weighted Average 16.9%
India Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:JSWSTEEL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:JSWSTEEL Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 946,001 148,021 71,600 19
2020-03-31 833,824 137,786 68,125 24
2019-03-31 820,671 121,080 76,664 24
NSEI:JSWSTEEL Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 818,799 130,421 89,816
2018-09-30 799,630 92,410
2018-06-30 756,510 79,540
2018-03-31 702,250 123,790 62,140
2017-12-31 673,902 95,398 43,052
2017-09-30 621,856 32,091
2017-06-30 585,956 30,291
2017-03-31 556,040 78,880 35,230
2016-12-31 498,896 65,204 24,216
2016-09-30 445,307 9,825
2016-06-30 421,110 3,123
2016-03-31 415,462 68,973 -3,354

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • JSW Steel's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • JSW Steel's revenue is expected to grow by 7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:JSWSTEEL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below

All data from JSW Steel Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:JSWSTEEL Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 29.79 44.10 20.00 19.00
2020-03-31 27.84 41.76 18.90 25.00
2019-03-31 31.59 34.87 25.90 26.00
NSEI:JSWSTEEL Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 37.35
2018-09-30 38.40
2018-06-30 33.06
2018-03-31 25.85
2017-12-31 17.91
2017-09-30 13.16
2017-06-30 12.61
2017-03-31 14.66
2016-12-31 9.99
2016-09-30 4.06
2016-06-30 1.29
2016-03-31 -1.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • JSW Steel is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess JSW Steel's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
JSW Steel has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has JSW Steel performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare JSW Steel's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • JSW Steel has delivered over 20% year on year earnings growth in the past 5 years.
  • JSW Steel's 1-year earnings growth exceeds its 5-year average (108.6% vs 52.2%)
  • JSW Steel's earnings growth has exceeded the IN Metals and Mining industry average in the past year (108.6% vs 37.8%).
Earnings and Revenue History
JSW Steel's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from JSW Steel Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:JSWSTEEL Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 818,799.00 89,816.00 23,153.00
2018-09-30 799,630.00 92,410.00 21,080.00
2018-06-30 756,510.00 79,540.00 19,650.00
2018-03-31 702,250.00 62,140.00 18,990.00
2017-12-31 673,901.60 43,051.90 18,398.80
2017-09-30 621,855.90 32,091.20 18,047.80
2017-06-30 585,955.90 30,291.20 17,937.80
2017-03-31 556,040.00 35,230.00 17,610.00
2016-12-31 498,895.70 24,215.80 17,454.00
2016-09-30 445,307.00 9,824.50 16,768.40
2016-06-30 421,109.60 3,122.80 16,478.70
2016-03-31 415,461.70 -3,354.30 15,742.30
2015-12-31 442,230.50 -6,028.00 16,101.70
2015-09-30 483,057.40 3,678.80 42,246.10
2015-06-30 512,859.00 9,996.90 41,971.90
2015-03-31 529,715.10 17,629.90 15,918.20
2014-12-31 545,850.50 21,844.20 36,271.20
2014-09-30 551,140.20 23,215.50 35,588.40
2014-06-30 541,459.80 14,576.10 34,863.30
2014-03-31 512,196.20 4,193.00 34,463.80
2013-12-31 462,869.90 2,180.60 27,181.30
2013-09-30 420,869.20 -3,128.00 26,269.40
2013-06-30 384,487.90 4,003.10 25,758.10
2013-03-31 382,097.00 9,914.70 25,058.20
2012-12-31 386,405.00 14,597.60 21,597.80
2012-09-30 381,789.60 15,146.30 21,361.30
2012-06-30 368,376.50 9,398.30 20,721.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst JSW Steel has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • JSW Steel used its assets more efficiently than the IN Metals and Mining industry average last year based on Return on Assets.
  • JSW Steel has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess JSW Steel's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
JSW Steel has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is JSW Steel's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up JSW Steel's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • JSW Steel's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • JSW Steel's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of JSW Steel's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from JSW Steel Company Filings, last reported 4 months ago.

NSEI:JSWSTEEL Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 327,807.00 475,431.00 22,368.00
2018-09-30 308,110.00 406,610.00 21,670.00
2018-06-30 275,340.00 393,980.00 11,520.00
2018-03-31 275,340.00 393,980.00 11,520.00
2017-12-31
2017-09-30 228,990.00 395,160.00 13,660.00
2017-06-30 224,019.10 433,344.20 18,683.80
2017-03-31 224,010.00 433,340.00 18,290.00
2016-12-31 209,618.70 455,874.70 14,295.90
2016-09-30 204,703.70 388,816.20 19,627.00
2016-06-30 216,506.80 394,632.80 7,339.80
2016-03-31 187,706.50 422,044.10 10,202.90
2015-12-31
2015-09-30 226,193.80 373,639.40 10,957.80
2015-06-30 231,517.20 379,898.10 19,135.50
2015-03-31 231,517.20 379,907.40 19,135.50
2014-12-31 229,792.30 329,816.60 5,050.50
2014-09-30 229,792.30 329,816.60 5,050.50
2014-06-30 221,053.50 347,621.00 7,309.80
2014-03-31 221,053.50 347,621.00 7,309.80
2013-12-31 211,568.00 281,067.70 10,963.50
2013-09-30 211,568.00 281,067.70 10,963.50
2013-06-30 175,408.90 213,459.80 17,968.80
2013-03-31 175,409.00 213,460.20 17,969.00
2012-12-31 176,736.10 173,467.90 24,508.10
2012-09-30 176,736.10 173,467.90 24,508.10
2012-06-30 169,672.40 199,091.10 32,509.70
  • JSW Steel's level of debt (145%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (133.1% vs 145% today).
  • Debt is well covered by operating cash flow (27.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.6x coverage).
X
Financial health checks
We assess JSW Steel's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. JSW Steel has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is JSW Steel's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.12%
Current annual income from JSW Steel dividends. Estimated to be 1.27% next year.
If you bought ₹2,000 of JSW Steel shares you are expected to receive ₹22 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • JSW Steel's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.55%).
  • JSW Steel's dividend is below the markets top 25% of dividend payers in India (2.09%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:JSWSTEEL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 26 Analyst Estimates (S&P Global) See Below
India Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 63 Stocks 4.1%
India Market Average Dividend Yield Market Cap Weighted Average of 1400 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:JSWSTEEL Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 3.77 18.00
2020-03-31 3.49 22.00
2019-03-31 3.93 17.00
NSEI:JSWSTEEL Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-05-16 3.200 1.015
2017-07-03 2.250 0.846
2017-06-06 2.250 1.136
2017-05-17 2.250 1.158
2016-05-18 0.750 0.441
2015-05-15 1.100 1.117
2014-11-05 1.100 1.090
2014-05-27 1.100 0.894
2013-10-03 1.000 1.059
2012-07-04 0.750 1.080
2012-05-14 0.750 1.184
2011-09-21 1.225 1.883
2010-08-18 0.950 0.992

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JSW Steel has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but JSW Steel only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of JSW Steel's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (11.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (7.9x coverage).
X
Income/ dividend checks
We assess JSW Steel's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can JSW Steel afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. JSW Steel has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of JSW Steel's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sajjan Jindal
COMPENSATION ₹495,800,000
AGE 59
TENURE AS CEO 14.3 years
CEO Bio

Mr. Sajjan Kumar Jindal, B.Engg. (Mech) serves as the Chairman, Managing Director and Executive Director of JSW Energy Limited. Mr. Jindal has been the Managing Director and Chairman of JSW Steel Ltd since February 2005 and since October 21, 2011 respectively. He is Founder of JSW Venture Fund and JSW Ventures. He is employed at JSW Steel Ltd., Investment Arm. He serves as a Senior Vice President of ASSOCHAM and the President of INSDAG. He has been Treasurer at World Steel Association since October 2017. He joined JSW Steel Ltd. on July 4, 1992. He served as Joint Managing Director of Jindal Strips Ltd. Mr. Jindal served as the Managing Director of Jindal Iron & Steel Co. Ltd. Mr. Jindal was a pioneer in developing DD & EDD grades of mild steel in the Indian Steel Sector. He has over 36 years experience in the Steel Industry. He has been the Chairman of JSW Holdings Limited (formerly, Jindal South West Holdings Ltd.) since July 12, 2001. He serves as the Chairman of JSWILL. He serves as the Chairman of other Group Companies and Director in several other Companies. He has been Chairman of the Board of JSW ISPAT Steel Limited since February 14, 2011. He serves as the Chairman of the Board of JSW Bengaluru Football Club Private Limited. Mr. Jindal serves as the Chairman of Ispat Industries Ltd. and has been its Director since January 13, 2011. Mr. Jindal served as the Chairman of the Board at TCPL Packaging Limited until May 26, 2015. Mr. Jindal served as the Chairman of the Board at Jindal Iron & Steel Co. Ltd. Mr. Jindal served as Vice Chairman of JSW Steel Ltd. from February 4, 2005 to October 21, 2011. He has been Director of JSW ISPAT Steel Limited since January 13, 2011. He has been Non-Independent Executive Director of JSW Steel Ltd since March 15, 1994. He serves as Director of JSW Steel (UK) Ltd. He has been a Director of JSW Holdings Limited since July 12, 2001. He serves as Non-Executive Director of Indian Institute of Management ­ Indore, National Shipping Board, TTD Development Advisory Council and the Bombay Chapter of the Young President Organisation. He serves as a Director of Tirumala Tirupati Devasthanam Board. He served as a Director of Airports Authority of India and Jindal Iron & Steel Co. Ltd since February 27, 2009. Mr. Jindal serves as Council Member of Indian Institute of Metals. He was the President of Institute of Steel Development and Growth. In 2007, he was named Ernst and Young ‘Entrepreneur of the Year’ in the manufacturing category. In 2009, he was honoured with Willy Korf Ken Iverson Steel Vision Award by American Metal Market & World Steel Dynamics. Mr. Jindal holds BE in Mechanical Engineering from Bangalore University.

CEO Compensation
  • Sajjan's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Sajjan's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the JSW Steel management team in years:

10.1
Average Tenure
59.5
Average Age
  • The average tenure for the JSW Steel management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Sajjan Jindal

TITLE
Chairman & MD
COMPENSATION
₹496M
AGE
59
TENURE
14.3 yrs

M. V. S. Rao

TITLE
Joint MD
COMPENSATION
₹211M
AGE
60
TENURE
10.1 yrs

Rajeev Pai

TITLE
Chief Financial Officer
AGE
56

P. Rajashekar

TITLE
President of Operations
AGE
60

Lancy Varghese

TITLE
Compliance Officer & Company Secretary
AGE
51

Bakshi Rajiv

TITLE
Senior VP of Legal & Group Counsel General
AGE
57

Gautam Chainani

TITLE
Group President of Human Resource
AGE
56

Vinod Nowal

TITLE
Deputy MD & Non-Independent Executive Director
COMPENSATION
₹122M
AGE
63
TENURE
6 yrs

D. Ravichandar

TITLE
Chief Executive Officer of Salem Works
AGE
61

Pawan Kedia

TITLE
Group President of Commercial Strategy
AGE
61
Board of Directors Tenure

Average tenure and age of the JSW Steel board of directors in years:

7.6
Average Tenure
63
Average Age
  • The tenure for the JSW Steel board of directors is about average.
Board of Directors

M. V. S. Rao

TITLE
Joint MD
COMPENSATION
₹211M
AGE
60
TENURE
20.1 yrs

Savitri Jindal

TITLE
Chairperson Emeritus
COMPENSATION
₹2M
AGE
68
TENURE
7.6 yrs

Sajjan Jindal

TITLE
Chairman & MD
COMPENSATION
₹496M
AGE
59
TENURE
7.6 yrs

Vinod Nowal

TITLE
Deputy MD & Non-Independent Executive Director
COMPENSATION
₹122M
AGE
63
TENURE
12.1 yrs

M. Jain

TITLE
Chairman of JSW Infrastructure Ltd
COMPENSATION
₹10M
AGE
72

Sangita Jindal

TITLE
Chairperson of JSW Foundation

Jayant Acharya

TITLE
Director of Commercial & Marketing and Non-Independent Executive Director
COMPENSATION
₹109M
AGE
55
TENURE
10 yrs

Punita Kumar-Sinha

TITLE
Independent Non-Executive Director
COMPENSATION
₹5M
AGE
56
TENURE
6.6 yrs

Malay Mukherjee

TITLE
Independent Non-Executive Director
COMPENSATION
₹5M
AGE
70
TENURE
3.8 yrs

Seturaman Mahalingam

TITLE
Independent Non-Executive Director
COMPENSATION
₹5M
AGE
70
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
01. Apr 19 Buy JSW Holdings Limited Company 26. Mar 19 26. Mar 19 36,000 ₹278.96 ₹10,042,581
27. Mar 19 Buy Vividh Consultancy and Advisory Services Private Limited Company 20. Mar 19 26. Mar 19 1,269,000 ₹285.83 ₹357,919,365
20. Mar 19 Buy JSW Holdings Limited Company 15. Mar 19 15. Mar 19 200,000 ₹288.11 ₹57,621,501
13. Mar 19 Buy Sahyog Tradecorp Private Limited Company 08. Mar 19 11. Mar 19 300,500 ₹291.83 ₹87,244,879
17. Nov 18 Buy JSW Steel Employees Welfare Trust Company 15. Nov 18 15. Nov 18 88,444 ₹345.08 ₹30,520,322
01. Nov 18 Buy JSW Steel Employees Welfare Trust Company 30. Oct 18 31. Oct 18 450,000 ₹337.34 ₹151,803,245
15. Oct 18 Buy JSW Steel Employees Welfare Trust Company 11. Oct 18 12. Oct 18 350,000 ₹373.60 ₹130,758,617
11. Oct 18 Buy JSW Steel Employees Welfare Trust Company 09. Oct 18 10. Oct 18 333,000 ₹373.11 ₹124,246,102
08. Oct 18 Buy JSW Steel Employees Welfare Trust Company 05. Oct 18 05. Oct 18 200,000 ₹371.46 ₹74,291,253
05. Oct 18 Buy JSW Steel Employees Welfare Trust Company 04. Oct 18 04. Oct 18 402,000 ₹379.94 ₹152,735,177
01. Oct 18 Buy JSW Steel Employees Welfare Trust Company 28. Sep 18 28. Sep 18 200,000 ₹384.25 ₹76,849,400
01. Oct 18 Buy JSW Holdings Limited Company 27. Sep 18 28. Sep 18 165,000 ₹402.73 ₹65,222,499
27. Sep 18 Buy JSW Holdings Limited Company 24. Sep 18 25. Sep 18 300,000 ₹403.95 ₹119,814,816
19. Sep 18 Buy Urmila Bhuwalka Individual 17. Sep 18 17. Sep 18 1,000 ₹416.49 ₹416,490
17. Sep 18 Buy Parth Jindal Individual 11. Sep 18 11. Sep 18 50,000 ₹400.18 ₹20,009,114
17. Sep 18 Buy JSW Holdings Limited Company 11. Sep 18 11. Sep 18 370,000 ₹396.37 ₹146,657,568
11. Sep 18 Buy JSW Holdings Limited Company 05. Sep 18 05. Sep 18 60,000 ₹390.64 ₹23,438,345
29. Aug 18 Buy JSW Holdings Limited Company 23. Aug 18 23. Aug 18 100,000 ₹338.90 ₹33,889,989
20. Aug 18 Buy JSW Holdings Limited Company 17. Aug 18 17. Aug 18 150,000 ₹333.76 ₹50,064,027
20. Aug 18 Buy JSW Holdings Limited Company 16. Aug 18 16. Aug 18 150,000 ₹328.59 ₹49,287,858
01. Aug 18 Buy JSW Steel Employees Welfare Trust Company 30. Jul 18 31. Jul 18 355,000 ₹328.37 ₹116,432,301
12. Jul 18 Buy JSW Steel Employees Welfare Trust Company 10. Jul 18 11. Jul 18 410,000 ₹315.02 ₹128,814,411
09. Jul 18 Buy JSW Steel Employees Welfare Trust Company 05. Jul 18 06. Jul 18 400,000 ₹310.79 ₹123,778,788
05. Jul 18 Buy JSW Steel Employees Welfare Trust Company 04. Jul 18 04. Jul 18 115,000 ₹312.97 ₹35,992,036
04. Jul 18 Buy JSW Steel Employees Welfare Trust Company 02. Jul 18 03. Jul 18 366,672 ₹317.82 ₹115,173,960
29. Jun 18 Buy JSW Steel Employees Welfare Trust Company 28. Jun 18 28. Jun 18 50,000 ₹320.26 ₹16,012,938
X
Management checks
We assess JSW Steel's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. JSW Steel has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Much is JSW Steel Limited's (NSE:JSWSTEEL) CEO Getting Paid?

This analysis aims first to contrast CEO compensation with other large companies. … Check out our latest analysis for JSW Steel … How Does Sajjan Jindal's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Shareholders Are Loving JSW Steel Limited's (NSE:JSWSTEEL) 1.1% Yield

Is JSW Steel Limited (NSE:JSWSTEEL) a good dividend stock? … A dividend paying company with growing earnings can be rewarding in the long term. … Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments.

Simply Wall St -

Should You Take Comfort From Insider Transactions At JSW Steel Limited (NSE:JSWSTEEL)?

So before you buy or sell JSW Steel Limited (NSE:JSWSTEEL), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … In the last twelve months JSW Steel insiders were buying shares, but not selling

Simply Wall St -

Can You Imagine How Chuffed JSW Steel's (NSE:JSWSTEEL) Shareholders Feel About Its 175% Share Price Gain?

Long term JSW Steel Limited (NSE:JSWSTEEL) shareholders would be well aware of this, since the stock is up 175% in five years. … To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

Simply Wall St -

Why You Should Like JSW Steel Limited’s (NSE:JSWSTEEL) ROCE

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Is JSW Steel Limited (NSE:JSWSTEEL) A High Quality Stock To Own?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows JSW Steel has a return on equity of 29% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Kind Of Shareholders Own JSW Steel Limited (NSE:JSWSTEEL)?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Companies of this size are usually well known to retail investors, too.

Simply Wall St -

Our Take On JSW Steel Limited's (NSE:JSWSTEEL) CEO Salary

Sajjan Jindal has been the CEO of JSW Steel Limited (NSE:JSWSTEEL) since 2005. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Sajjan Jindal's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Does JSW Steel Limited (NSE:JSWSTEEL) Have A Good P/E Ratio?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … JSW Steel has a price to earnings ratio of 7.44, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Have Insiders Been Buying JSW Steel Limited (NSE:JSWSTEEL) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So before you buy or sell JSW Steel Limited (NSE:JSWSTEEL), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At JSW Steel.

Simply Wall St -

Company Info

Description

JSW Steel Limited manufactures and sells steel products in India. The company offers hot and cold rolled products, color coated products, galvanized products, galvalume products, TMT bars, wire rods, and special alloy steel. It also exports its products. 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.

Details
Name: JSW Steel Limited
JSWSTEEL
Exchange: NSEI
Founded: 1982
₹664,841,785,554
2,406,231,580
Website: http://www.jsw.in
Address: JSW Steel Limited
JSW Centre,
Bandra Kurla Complex,
Mumbai,
Maharashtra, 400051,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 500228 Equity Shares Mumbai Stock Exchange IN INR 01. Dec 1999
NSEI JSWSTEEL Equity Shares National Stock Exchange of India IN INR 01. Dec 1999
BSE 717502 0.01% PRF Mumbai Stock Exchange IN INR 14. Aug 2017
BSE 500228 INR1 Mumbai Stock Exchange IN INR 20. May 2019
NSEI JSWSTEEL INR1 National Stock Exchange of India IN INR 20. May 2019
Number of employees
Current staff
Staff numbers
12,550
JSW Steel employees.
Industry
Steel
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 12:48
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/04/10
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.