JSW Holdings Limited
₹10,867.95-₹474.45 (-4.2%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹20,014 Cr
- P/E
- 170.0x
- EV / EBITDA
- 126.1x
- Revenue
- ₹248 Cr
- Net margin
- 70.0%
- ROCE
- 0.7%
Price chart
Technical chartScreen technicals →-35.5% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -4.1%
- 3M
- -2.9%
- 6M
- -12.3%
- 1Y
- -35.5%
- 5Y
- +132.2%
52-week range
Day change -₹474.45 (-4.2%) from ₹11,342 to ₹10,868 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in JSWHL, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Operating margin of 92.4% exceeds Financial Services median (59.5%)
Concerns1
- Low return on equity of 0.6%
Rule-based from financial data. Not advice.
About the company
JSW Holdings Limited, a non-banking financial company, primarily engages in investing and financing activities in India. The company grants loans; provides securities, as well as invests in securities. JSW Holdings Limited was incorporated in 2001 and is based in Mumbai, India.
- Sector
- Financial Services
- Shares outstanding
- 1.1 Cr shares
- ISIN
- INE824G01012
- BSE code
- 532642
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹20,014 Cr
- P/E
- 170.0x
- P/B
- 0.6x
- EV / EBITDA
- 126.1x
- EV / Sales
- 116.5x
- P/S
- 117.7x
- Earnings yield
- 0.6%
- 52-week high
- ₹22,159.55
- 52-week low
- ₹10,657.75
Profitability
- Operating margin
- 92.4%
- Net margin
- 70.0%
- EBITDA margin
- 92.4%
- ROE
- 0.6%
- ROCE
- 0.7%
- ROA
- 0.4%
- Dividend payout
- 0.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 0.0%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹248 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 45.9%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 7.0%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹157 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -60.8%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 47.1%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 2.7%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹115 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -61.4%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹1.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 30.8%
Solvency and efficiency
- Current ratio
- 7.41
- Debt / Assets
- 0.00
- Financial leverage
- 1.16
- CFO / Net profit
- 0.97
- Cash / Market cap
- 5.3%
- Cash per share
- ₹955.72
- Asset turnover
- 0.01
- Debtor days
- 4 days
- Cash conversion cycle
- 4 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹71 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹14 Cr |
| Sales | Operating profit | ₹234 Cr |
| Operating profit | Profit before tax | ₹234 Cr |
| Profit before tax | Tax and other | ₹59 Cr |
| Profit before tax | Net profit | ₹175 Cr |
Revenue and net profit
Revenue grew 45.9% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹93 Cr | ₹66 Cr |
| FY2022 | ₹186 Cr | ₹135 Cr |
| FY2023 | ₹407 Cr | ₹300 Cr |
| FY2024 | ₹170 Cr | ₹119 Cr |
| FY2025 | ₹248 Cr | ₹175 Cr |
Cash flows
FY2025: ₹169 Cr from operations, -₹1.00 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹67 Cr | -₹5 Cr |
| FY2022 | ₹130 Cr | -₹1 Cr |
| FY2023 | ₹298 Cr | ₹0 Cr |
| FY2024 | ₹115 Cr | ₹3 Cr |
| FY2025 | ₹169 Cr | -₹1 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹248 Cr+45.9%1Y
- Net profit
- ₹175 Cr+47.1%1Y
- Cash from operations
- ₹169 Cr
- Free cash flow
- -₹1 Cr-133.3%1Y
- Revenue CAGR, 5Y
- 7.0%
- EBITDA CAGR, 5Y
- 6.4%
- Net profit CAGR, 5Y
- 2.7%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹248 Cr | ₹234 Cr | — | ₹175 Cr | ₹169 Cr | -₹1 Cr | 0.6% | +45.9% | +47.1% |
Monthly returns
Month-by-month returns of JSWHL across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹34,407 Cr |
| Equity capital | ₹11 Cr |
| Reserves | ₹30,441 Cr |
| Borrowings | ₹0 Cr |
| Other liabilities | ₹3,955 Cr |
| Assets | ₹34,407 Cr |
| Fixed assets | ₹0 Cr |
| Capital work in progress | ₹0 Cr |
| Investments | ₹33,187 Cr |
| Other assets | ₹1,220 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
JSWHL trades at 170.0x earnings against a peer median of 26.9x (a 532% premium).
Not shown (no positive earnings and no EV / Sales): Choice International Ltd.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| JSW Holdings LimitedJSWHLthis companyP/E ↑ premium | ₹20,014 Cr | 170.0x | 0.6x | 0.6% | 126.1x |
| ANGEL ONE LIMITEDANGELONE | ₹22,144 Cr | 26.0x | 3.8x | 21.7% | 13.1x |
| Aadhar Housing Finance LimitedAADHARHFC | ₹20,954 Cr | 21.2x | 3.0x | 14.3% | — |
| National Securities Depository LimitedNATIONAL | ₹20,703 Cr | 63.3x | 10.5x | 17.8% | 60.7x |
| CreditAccess Grameen Ltd.CREDITACC | ₹20,641 Cr | 154.0x | 2.9x | 7.6% | — |
| City Union Bank LtdCUB | ₹20,548 Cr | 17.0x | 2.1x | 11.9% | — |
| PUNJAB & SIND BANKPSB | ₹19,385 Cr | 16.7x | 1.4x | 7.6% | — |
| RBL Bank LimitedRBLBANK | ₹18,851 Cr | 39.3x | 1.2x | 4.5% | — |
| Choice International LtdCHOICEIN | ₹18,054 Cr | — | 26.1x | 1.7% | 2955.2x |
| Peer median | — | 26.9x | 2.8x | 12.3% | 33.9x |
Year-to-date ROI
JSWHL since 1 January, against earlier years.
Historical volatility
JSWHL's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 95.0% |
| FY2022 | 97.0% |
| FY2023 | 99.0% |
| FY2024 | 93.0% |
| FY2025 | 94.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹248 Cr |
| Costs | |
| Interest | ₹0 Cr |
| Expenses | ₹14 Cr |
| Operating profitOperating Profit | ₹234 Cr |
| Other income and charges | |
| Profit before tax | ₹234 Cr |
| Tax | |
| Net profitNet Profit | ₹175 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹34,407 Cr |
| Equity capitalEquity Capital | ₹11 Cr |
| Reserves | ₹30,441 Cr |
| Borrowings | ₹0 Cr |
| Other liabilitiesOther Liabilities | ₹3,955 Cr |
| AssetsTotal Assets | ₹34,407 Cr |
| Fixed assetsFixed Assets | ₹0 Cr |
| Capital work in progressCWIP | ₹0 Cr |
| Investments | ₹33,187 Cr |
| Other assetsOther Assets | ₹1,220 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹169 Cr |
| Investing cash flowCash from Investing Activity | -₹170 Cr |
| Financing cash flowCash from Financing Activity | ₹0 Cr |
| Change in cashNet Cash Flow | -₹1 Cr |
Learn while you research
Academy chapters picked for JSW Holdings Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 170.0, learn when high multiples are justified.6 min read
- 04 Growth Investing46% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Sector AnalysisBanks & financials are uniquely sensitive to rates and credit cycles.6 min read