JSW Steel Limited is one of India’s largest integrated steel producers and a flagship company of the JSW Group. Headquartered in Mumbai, it operates across India with major facilities in Karnataka, Maharashtra, Tamil Nadu, and West Bengal, with a total capacity of over 28 million tonnes per annum. The company also has international assets in the US and Italy. As a key player in India’s infrastructure and manufacturing ecosystem, JSW Steel supplies to sectors like automotive, construction, energy, and capital goods. Despite cyclical headwinds from global steel oversupply and input cost volatility, the company remains strategically positioned to benefit from India’s rising steel consumption and government-led capex. As of January 2026, it trades at a moderate valuation relative to peers, reflecting both challenges and long-term opportunity. This article provides a data-driven outlook on the JSW Steel share price target 2026–2030.
JSW Steel: Company Overview
- Founded: 1982 (as Jindal Vijayanagar Steel Ltd.)
- Managing Director: Mr Jayant Acharya
- NSE Symbol: JSWSTEEL
- Core Business Segments:
- Flat Products (55%) – automotive, appliances
- Long Products (30%) – construction, infrastructure
- Downstream & Value-Added Products (15%)
- Market Position: #2 private steelmaker in India; among the top 50 global steel producers
JSW Steel rebranded from Jindal Vijayanagar Steel Ltd. in 2005 following its acquisition by the JSW Group. It has since expanded aggressively through organic growth and strategic acquisitions.
JSW Steel: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹1,191 |
| Market Capitalization | ₹2,91,474 Cr |
| No. of Shares Outstanding | 244.55 Cr |
| 52-Week High / Low | ₹1,250 / ₹854 |
| P/E Ratio (TTM) | 41.62 |
| P/B Ratio | 3.50 |
| EPS (TTM) | ₹28.64 |
| Book Value (TTM) | ₹340.94 |
| ROE | 7.57% |
| ROCE | 9.33% |
| Dividend Yield | 0.24% |
| Face Value | ₹1 |
| Cash | ₹10,261 Cr |
| Debt | ₹65,495 Cr |
| Promoter Holding | 45.32% |
| Sales Growth (YoY) | –5.53% |
| Profit Growth (YoY) | –27.41% |
JSW Steel Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹1,240 – ₹1,380 |
| 2027 | ₹1,320 – ₹1,500 |
| 2028 | ₹1,400 – ₹1,650 |
| 2029 | ₹1,480 – ₹1,820 |
| 2030 | ₹1,560 – ₹2,000 |
JSW Steel Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹1,240 | ₹1,380 |
JSW Steel reported a 27.41% YoY decline in profit in FY2025 due to weak global steel realisations, high coking coal costs, and inventory devaluation. However, domestic demand remains resilient, supported by government infrastructure spending. Trading at a P/E of 41.6x and P/B of 3.5x, the stock reflects cautious optimism. A 2026 target range of ₹1,240–₹1,380 assumes stabilisation in steel spreads and no major macro disruptions.
JSW Steel Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹1,320 | ₹1,500 |
If India’s steel consumption grows at 7–8% annually and JSW benefits from its Kalmeshwar expansion, earnings could rebound modestly. Assuming EPS reaches ₹30–₹32 by FY27 and P/E stabilises at 42–44x, the 2027 target range of ₹1,320–₹1,500 is justified.
JSW Steel Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹1,400 | ₹1,650 |
By 2028, benefits from capacity ramp-up (to 30 MTPA) and cost optimisation should reflect in margins. A P/E of 43–45x on projected EPS of ₹32–₹35 supports the ₹1,400–₹1,650 band.
JSW Steel Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹1,480 | ₹1,820 |
Long-term tailwinds include India’s steel intensity rise, PLI schemes for auto/defence, and export opportunities. If competition doesn’t erode pricing, EPS could reach ₹34–₹37 by FY29. At a P/E of 44–46x, the 2029 target is ₹1,480–₹1,820.
JSW Steel Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹1,560 | ₹2,000 |
Over a five-year horizon, JSW Steel’s appeal lies in strategic scale and integration—not explosive growth. If it deleverages meaningfully and sustains dividends, investor confidence will improve. A terminal P/E of 45–48x on FY30 EPS (~₹35–₹40) justifies the ₹1,560–₹2,000 range.
JSW Steel: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters | 45.32% |
| Foreign Institutional Investors (FII) | 25.55% |
| Public & Retail | 17.75% |
| Domestic Institutional Investors (DII) | 11.38% |
High promoter holding ensures strategic continuity. Strong FII interest reflects global recognition of India’s steel story.
JSW Steel: Strengths vs Risks
Strengths:
- Integrated operations with captive raw material access
- Leadership in automotive-grade steel
- Expanding capacity to 30 MTPA by 2026
- Strong order book from the infrastructure and auto sectors
Risks:
- High debt (Net Debt/EBITDA: ~3.9x) limits flexibility
- Cyclical industry—earnings are volatile with commodity cycles
- Global oversupply and China export pressures
- Contingent liabilities of ₹1.2 lakh Cr require monitoring
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate to High |
| Ideal Time Horizon | 5+ years |
| Volatility | Higher than market average (Beta: 1.4) |
| Dividend/Income Potential | Low (0.24% yield) |
| Best For | Investors betting on India’s infrastructure and manufacturing revival |
FAQs
Why is JSW Steel’s share rising?
Despite negative profit growth, the stock has rallied due to:
- Expectations of recovery in steel prices (HRC up 12% QoQ)
- Government’s ₹10 lakh crore infrastructure push
- Capacity expansion nearing completion
- Short-covering after a deep correction in 2024
What is the new name of Jindal Vijayanagar Steel Ltd.?
It was renamed JSW Steel Limited in 2005 after acquisition by the JSW Group.
What is the target price of JSW Steel?
Based on fundamentals, the JSW Steel share price target for 2026 is ₹1,240 – ₹1,380.
What was the JSW Steel share price in 1990?
JSW Steel (then Jindal Vijayanagar Steel) was not listed in 1990. It got listed on Indian exchanges only in 2004 at an IPO price of ₹25 per share.
Final Verdict
JSW Steel remains a strategic bet on India’s industrialisation—but it’s a cyclical, high-risk holding, not a compounder like IT or FMCG. The current valuation offers limited downside, but upside depends on macro recovery and execution.
Our JSW Steel share price target 2026–2030 (₹1,240 to ₹2,000) reflects cautious optimism—rooted in balance sheet resilience but tempered by earnings uncertainty. Monitor quarterly steel realisations, debt levels, and EBITDA/tonne before increasing exposure.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – JSW Steel Consolidated Page
- Finology Ticker – JSWSTEEL Financials & Analysis
- Groww.in – JSW Steel Stock Profile
- JSW Steel Investor Presentation (Q3 FY26, Jan 2026)
- Ministry of Steel, Government of India – National Steel Policy 2017
