{"id":243216,"date":"2026-09-11T10:42:50","date_gmt":"2026-09-11T05:12:50","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=243216"},"modified":"2026-09-11T10:42:50","modified_gmt":"2026-09-11T05:12:50","slug":"integrated-steel-stock-rises-98-percent-in-5-years","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/","title":{"rendered":"This Integrated Steel Stock Rises 98% in 5 Years: What Drove the Rally?"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Close Rs 1,304 (10 Sep 2026). 5-year return 98.27% (rank 54 of 101). 52W range Rs 1,073 to Rs 1,351. Market cap around Rs 3.2 lakh Cr. Q1 FY27 PAT Rs 4,696 Cr.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">JSW Steel returned 98.27% in five years, ranking 54th in a screen of 101 NSE stocks, with no split or bonus in the period. The integrated steel stock rally came from a record FY22, acquisitions, capacity growth and a 2026 joint venture deal that cut net debt. The 1-year return is 14.29%, and near-term coal costs are the main watch point.<\/p>\n<\/div>\n<p>This integrated steel stock has nearly doubled investor money in five years. Its 5-year return stands at 98.27% as of 10 September 2026, ranking 54th in a screen of 101 NSE stocks. The gain came in stages: a steel upcycle, big acquisitions, a steady build-out of capacity and, more recently, a deal that cut debt sharply.<\/p>\n<p>The company is <a href='https:\/\/univest.in\/stocks\/jswsteel\/jsw-steel-ltd-share-price-today'>JSW Steel Ltd<\/a>, one of India&#8217;s largest steel producers, with a market capitalisation of approximately Rs 3,20,440 crore. The JSW Steel share price closed at Rs 1,304 on 10 September 2026, not far below its 52-week high of Rs 1,351. In early trade on 11 September the stock slipped about 2% to around Rs 1,277.<\/p>\n<p style=\"margin-top:24px;\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#How_Much_Has_This_Integrated_Steel_Stock_Returned_Across_Periods\" title=\"How Much Has This Integrated Steel Stock Returned Across Periods?\">How Much Has This Integrated Steel Stock Returned Across Periods?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Is_the_Rise_of_This_Integrated_Steel_Stock_Distorted_by_a_Split_or_Bonus\" title=\"Is the Rise of This Integrated Steel Stock Distorted by a Split or Bonus?\">Is the Rise of This Integrated Steel Stock Distorted by a Split or Bonus?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Why_Did_This_Integrated_Steel_Stock_Rise_98_in_5_Years\" title=\"Why Did This Integrated Steel Stock Rise 98% in 5 Years?\">Why Did This Integrated Steel Stock Rise 98% in 5 Years?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#1_The_FY22_Steel_Upcycle\" title=\"1. The FY22 Steel Upcycle\">1. The FY22 Steel Upcycle<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#2_Acquisitions_and_Capacity_Growth\" title=\"2. Acquisitions and Capacity Growth\">2. Acquisitions and Capacity Growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#3_The_Bhushan_Power_Joint_Venture_and_Debt_Reduction\" title=\"3. The Bhushan Power Joint Venture and Debt Reduction\">3. The Bhushan Power Joint Venture and Debt Reduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#4_Policy_Support_and_Domestic_Demand\" title=\"4. Policy Support and Domestic Demand\">4. Policy Support and Domestic Demand<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Is_the_Recent_Profit_Surge_Sustainable\" title=\"Is the Recent Profit Surge Sustainable?\">Is the Recent Profit Surge Sustainable?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Quarterly_and_Annual_Financials_of_This_Integrated_Steel_Stock\" title=\"Quarterly and Annual Financials of This Integrated Steel Stock\">Quarterly and Annual Financials of This Integrated Steel Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Valuation_and_Shareholding_of_This_Integrated_Steel_Stock\" title=\"Valuation and Shareholding of This Integrated Steel Stock\">Valuation and Shareholding of This Integrated Steel Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Key_Risks_for_This_Integrated_Steel_Stock\" title=\"Key Risks for This Integrated Steel Stock\">Key Risks for This Integrated Steel Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#JSW_Steel_Share_Analyst_View\" title=\"JSW Steel Share: Analyst View\">JSW Steel Share: Analyst View<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#JSW_Steel_Share_Price_Target\" title=\"JSW Steel Share Price Target\">JSW Steel Share Price Target<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Which_integrated_steel_stock_rose_98_in_5_years\" title=\"Which integrated steel stock rose 98% in 5 years?\">Which integrated steel stock rose 98% in 5 years?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Why_did_the_JSW_Steel_share_price_rise_over_five_years\" title=\"Why did the JSW Steel share price rise over five years?\">Why did the JSW Steel share price rise over five years?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#What_is_the_1-year_return_of_JSW_Steel\" title=\"What is the 1-year return of JSW Steel?\">What is the 1-year return of JSW Steel?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#What_were_JSW_Steel_Q1_FY27_results\" title=\"What were JSW Steel Q1 FY27 results?\">What were JSW Steel Q1 FY27 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#What_is_the_JSW_Steel_share_price_target\" title=\"What is the JSW Steel share price target?\">What is the JSW Steel share price target?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Has_JSW_Steel_issued_a_bonus_or_split_in_the_last_five_years\" title=\"Has JSW Steel issued a bonus or split in the last five years?\">Has JSW Steel issued a bonus or split in the last five years?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#Is_JSW_Steel_stock_overvalued\" title=\"Is JSW Steel stock overvalued?\">Is JSW Steel stock overvalued?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/univest.in\/blogs-2\/integrated-steel-stock-rises-98-percent-in-5-years\/#What_are_the_main_risks_for_JSW_Steel\" title=\"What are the main risks for JSW Steel?\">What are the main risks for JSW Steel?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"How_Much_Has_This_Integrated_Steel_Stock_Returned_Across_Periods\"><\/span><strong>How Much Has This Integrated Steel Stock Returned Across Periods?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The long-term numbers are solid rather than spectacular. It sits in the middle of the screen on every timeframe, which fits a large, mature company that moves with the steel cycle.<\/p>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Return (%)<\/th>\n<th>Rank (out of 101)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1 Month<\/td>\n<td>1.77<\/td>\n<td>75<\/td>\n<\/tr>\n<tr>\n<td>6 Months<\/td>\n<td>14.60<\/td>\n<td>71<\/td>\n<\/tr>\n<tr>\n<td>1 Year<\/td>\n<td>14.29<\/td>\n<td>66<\/td>\n<\/tr>\n<tr>\n<td>3 Years<\/td>\n<td>68.51<\/td>\n<td>61<\/td>\n<\/tr>\n<tr>\n<td>5 Years<\/td>\n<td>98.27<\/td>\n<td>54<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>A 98.27% gain implies this integrated steel stock traded near Rs 658 in September 2021. The 3-year return of 68.51% points to a starting level of about Rs 774, and the 1-year gain of 14.29% implies roughly Rs 1,141 a year ago. So the JSW Steel share price has compounded at around 14.7% a year over five years.<\/p>\n<p>The recent pace is slower. The 1-year return of 14.29% is decent but ranks only 66th, and the 1-month gain of 1.77% is modest. Most of the wealth creation in this integrated steel stock came in bursts tied to steel prices and corporate actions, not in a straight line.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Rise_of_This_Integrated_Steel_Stock_Distorted_by_a_Split_or_Bonus\"><\/span><strong>Is the Rise of This Integrated Steel Stock Distorted by a Split or Bonus?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>No.<\/strong> The company split its shares from a face value of Rs 10 to Re 1 in 2017, well before the five-year window. There has been no split or bonus since, so the 98.27% return reflects genuine price appreciation for this integrated steel stock.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Did_This_Integrated_Steel_Stock_Rise_98_in_5_Years\"><\/span><strong>Why Did This Integrated Steel Stock Rise 98% in 5 Years?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Short answer:<\/strong> record FY22 profit, acquisitions that added capacity, a long expansion pipeline and a large stake sale that cut net debt. Each phase of the five years had a different driver for this integrated steel stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_The_FY22_Steel_Upcycle\"><\/span><strong>1. The FY22 Steel Upcycle<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Steel prices surged after the pandemic, and this integrated steel stock captured the upswing in full. FY22 revenue reached about Rs 1,47,902 crore and net profit hit a record of about Rs 20,938 crore, with operating margins near 28%. That year set the base for the 5-year return.<\/p>\n<p>Profit then fell to about Rs 4,139 crore in FY23 as steel prices and margins cooled. The JSW Steel share price moved sideways for long stretches in this period, which explains why the 5-year return is lower than the peak earnings year might suggest. That cyclical dip is a reminder of how an integrated steel stock tracks the metal cycle.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Acquisitions_and_Capacity_Growth\"><\/span><strong>2. Acquisitions and Capacity Growth<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The company completed the purchase of Bhushan Power and Steel through a resolution process in 2021 and expanded its Dolvi plant in Maharashtra around the same time. These moves gave the company scale in eastern and western India.<\/p>\n<p>By mid-2026 consolidated capacity reached approximately 37.9 million tonnes a year, including joint ventures. The Vijayanagar blast furnace 3 upgrade to 4.5 million tonnes was completed in June 2026. Sales volume rose from about 26.45 million tonnes in FY25 to about 29.58 million tonnes in FY26. Scale at this level puts it among the biggest names for any integrated steel stock in India.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_The_Bhushan_Power_Joint_Venture_and_Debt_Reduction\"><\/span><strong>3. The Bhushan Power Joint Venture and Debt Reduction<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The biggest recent trigger was a deal with Japan&#8217;s JFE Steel. On 27 March 2026 the steel business of Bhushan Power and Steel moved into a 50:50 joint venture with JFE, and the company received approximately Rs 37,350 crore in cash, mostly used to repay debt. The deal unlocked value that the market had not priced into the integrated steel stock.<\/p>\n<p>The deal produced an exceptional gain of about Rs 17,888 crore in the March 2026 quarter. Net debt fell to about Rs 46,157 crore by June 2026 from about Rs 53,870 crore in March, and net debt to EBITDA improved to approximately 1.46 times. A lighter balance sheet has been a key reason investors re-rated this integrated steel stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Policy_Support_and_Domestic_Demand\"><\/span><strong>4. Policy Support and Domestic Demand<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A safeguard duty of 11.5% on certain steel imports, valid until April 2028, has eased pressure from low-priced imports. Management of this integrated steel stock expects domestic steel demand to grow 7% to 9% in FY27. For an integrated steel stock with most sales in India, steady local demand and some import protection help realisations.<\/p>\n<p>The product mix is also improving. Value-added and special products made up about 61% of sales in the June 2026 quarter. Higher-value steel for autos, appliances and renewable energy supports margins for this integrated steel stock.<\/p>\n<p style=\"margin-top:24px;\"><strong>Check the Univest Screener for Live Fundamentals of High-Return Stocks<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Is_the_Recent_Profit_Surge_Sustainable\"><\/span><strong>Is the Recent Profit Surge Sustainable?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Partly.<\/strong> Reported profit is inflated by the one-time gain, but the core business did improve. Excluding the exceptional item, profit after tax in the March 2026 quarter was approximately Rs 4,660 crore against about Rs 2,000 crore a year earlier.<\/p>\n<p>The June 2026 quarter of this integrated steel stock confirmed the trend. Net profit rose about 113% year on year to approximately Rs 4,696 crore on stronger steel prices, higher volumes and a better product mix. Steel sales reached a best-ever first quarter of 6.25 million tonnes, with exports up about 46%.<\/p>\n<p>Near-term costs are the concern. For this integrated steel stock, brokerages expect EBITDA per tonne to dip in the September 2026 quarter due to costlier coking coal before recovering later in the year. That is one reason the stock has paused below its high.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Quarterly_and_Annual_Financials_of_This_Integrated_Steel_Stock\"><\/span><strong>Quarterly and Annual Financials of This Integrated Steel Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Quarterly numbers for this integrated steel stock show steady revenue and a sharp jump in profit in the last two quarters. The March 2026 figure includes the one-time joint venture gain.<\/p>\n<table>\n<thead>\n<tr>\n<th>Quarter<\/th>\n<th>Revenue (Rs Cr)<\/th>\n<th>EBITDA (Rs Cr)<\/th>\n<th>EBITDA Margin (%)<\/th>\n<th>Net Profit (Rs Cr)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Jun 2025<\/td>\n<td>43,497<\/td>\n<td>7,926<\/td>\n<td>18.2<\/td>\n<td>2,209<\/td>\n<\/tr>\n<tr>\n<td>Sep 2025<\/td>\n<td>45,436<\/td>\n<td>7,399<\/td>\n<td>16.3<\/td>\n<td>1,646<\/td>\n<\/tr>\n<tr>\n<td>Dec 2025<\/td>\n<td>46,264<\/td>\n<td>6,769<\/td>\n<td>14.6<\/td>\n<td>2,410<\/td>\n<\/tr>\n<tr>\n<td>Mar 2026<\/td>\n<td>51,521<\/td>\n<td>8,975<\/td>\n<td>17.4<\/td>\n<td>19,243*<\/td>\n<\/tr>\n<tr>\n<td>Jun 2026<\/td>\n<td>48,088<\/td>\n<td>10,107<\/td>\n<td>21.0<\/td>\n<td>4,696<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>*Includes an exceptional gain of about Rs 17,888 crore from the Bhushan Power joint venture transaction. Revenue here includes other income, so it differs slightly from reported revenue from operations.<\/p>\n<p>On a full-year basis, this integrated steel stock posted FY26 revenue of about Rs 1,86,718 crore and reported net profit of about Rs 25,508 crore. FY25 profit had dropped to about Rs 3,491 crore, so the one-off gain makes year-on-year comparisons look far better than the core trend. Operating cash flow was approximately Rs 25,152 crore in FY26, against capex of about Rs 14,654 crore.<\/p>\n<p>Growth spending at this integrated steel stock will rise. The company has guided FY27 capex of Rs 22,000 to 24,000 crore and targets 54.8 million tonnes of capacity by FY30 and 62 million tonnes by FY32. For this integrated steel stock, execution on that plan is the main long-term driver.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Valuation_and_Shareholding_of_This_Integrated_Steel_Stock\"><\/span><strong>Valuation and Shareholding of This Integrated Steel Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The headline PE of this integrated steel stock, approximately 11.4, looks low, but it is flattered by the one-time gain in trailing profit. Stripping out the exceptional item, trailing earnings suggest a PE of roughly 24, close to the industry PE of about 24.15. The price to book ratio is about 3.2 and ROE around 7.2%.<\/p>\n<table>\n<thead>\n<tr>\n<th>Holder<\/th>\n<th>Jun 2025 (%)<\/th>\n<th>Sep 2025 (%)<\/th>\n<th>Dec 2025 (%)<\/th>\n<th>Mar 2026 (%)<\/th>\n<th>Jun 2026 (%)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Promoters<\/td>\n<td>45.31<\/td>\n<td>45.32<\/td>\n<td>45.32<\/td>\n<td>45.32<\/td>\n<td>44.29<\/td>\n<\/tr>\n<tr>\n<td>FII \/ FPI<\/td>\n<td>25.38<\/td>\n<td>25.60<\/td>\n<td>25.38<\/td>\n<td>25.38<\/td>\n<td>25.92<\/td>\n<\/tr>\n<tr>\n<td>DII<\/td>\n<td>11.40<\/td>\n<td>11.40<\/td>\n<td>11.60<\/td>\n<td>11.70<\/td>\n<td>12.00<\/td>\n<\/tr>\n<tr>\n<td>Mutual Funds<\/td>\n<td>4.25<\/td>\n<td>4.69<\/td>\n<td>5.09<\/td>\n<td>5.33<\/td>\n<td>5.89<\/td>\n<\/tr>\n<tr>\n<td>Public<\/td>\n<td>17.59<\/td>\n<td>17.60<\/td>\n<td>17.60<\/td>\n<td>17.47<\/td>\n<td>17.62<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Promoters of this integrated steel stock trimmed their stake to 44.29% in the June 2026 quarter from 45.32%. Mutual funds raised their holding steadily from 4.25% to 5.89% over the year, and foreign investors edged up to 25.92%. Rising domestic fund interest has supported the JSW Steel share price.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_for_This_Integrated_Steel_Stock\"><\/span><strong>Key Risks for This Integrated Steel Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Steel price cycle:<\/strong> Earnings of this integrated steel stock swing with global steel prices. FY23 and FY25 showed how quickly profit can fall when prices soften, with net margins dropping to around 2% to 2.5%.<\/p>\n<p><strong>Raw material costs:<\/strong> This integrated steel stock imports much of its coking coal, and costlier coal is expected to squeeze margins in the near term. Currency moves matter too, since a large share of debt is in foreign currency.<\/p>\n<p><strong>Heavy capex:<\/strong> Expansion plans worth approximately Rs 1.26 lakh crore over four to five years could push debt up again if steel prices weaken. Delays or cost overruns would hurt returns on this integrated steel stock.<\/p>\n<p><strong>Imports and policy:<\/strong> The safeguard duty expires in April 2028. For an integrated steel stock, any cut in import protection, or a flood of low-priced steel from overseas, would pressure realisations. Mining tax rulings by states are another area to watch.<\/p>\n<p><strong>Lower volumes after the deal:<\/strong> Bhushan Power contributed about 12% of consolidated volumes for this integrated steel stock. Now held in a joint venture, its sales no longer consolidate fully, and FY27 volume guidance is about 28.6 million tonnes.<\/p>\n<p style=\"margin-top:24px;\"><strong>Download the <a href=\"https:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track the JSW Steel share price live<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"JSW_Steel_Share_Analyst_View\"><\/span><strong>JSW Steel Share: Analyst View<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Most analysts covering this integrated steel stock remain positive on the balance sheet repair and the long capacity pipeline, while flagging near-term coal costs. After the June 2026 quarter results, brokerages raised estimates on stronger profitability from joint ventures, lower interest costs and higher other income.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"JSW_Steel_Share_Price_Target\"><\/span><strong>JSW Steel Share Price Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>After the results in July 2026, a domestic brokerage set a JSW Steel share price target of Rs 1,437 with a buy rating, valuing the company at around 8.3 times FY28 estimated EV to EBITDA. Another domestic brokerage set a target of Rs 1,351 with an accumulate rating, citing the brownfield expansion pipeline and captive raw material security.<\/p>\n<p>Earlier, in March 2026, a domestic brokerage had raised its JSW Steel share price target to Rs 1,400. With the stock near Rs 1,304 on 10 September 2026, these targets imply limited to moderate upside of roughly 4% to 10%.<\/p>\n<p>For investors, the JSW Steel share price target matters less than execution. Watch EBITDA per tonne, coal costs, net debt and progress at Dolvi and Odisha. The 52-week range of Rs 1,073 to Rs 1,351 gives a sense of how far the JSW Steel share price can swing within a year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This integrated steel stock has returned 98.27% over five years, driven by a record FY22, acquisitions, rising capacity and a joint venture deal that cut debt. The JSW Steel share price now trades near its high with a middling 1-year return of 14.29%.<\/p>\n<p>For long-term investors, the case for this integrated steel stock rests on capacity growth, a stronger balance sheet and steady domestic demand. The risks are the steel cycle, coal costs and heavy spending, so position sizing and patience matter more than chasing the recent move.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information and may or may not be accurate. Please verify all data independently before making any investment decision. Past returns do not guarantee future returns. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_integrated_steel_stock_rose_98_in_5_years\"><\/span><strong>Which integrated steel stock rose 98% in 5 years?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> JSW Steel Ltd (NSE: JSWSTEEL) is the integrated steel stock that returned 98.27% over five years as of 10 September 2026. It ranked 54th among 101 NSE stocks in the screen.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_the_JSW_Steel_share_price_rise_over_five_years\"><\/span><strong>Why did the JSW Steel share price rise over five years?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The rise came from a record FY22 profit, the acquisition of Bhushan Power and Steel, the Dolvi expansion, steady capacity growth and a 2026 joint venture deal with JFE Steel that brought in about Rs 37,350 crore to cut debt.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_1-year_return_of_JSW_Steel\"><\/span><strong>What is the 1-year return of JSW Steel?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> JSW Steel returned 14.29% over one year, ranking 66th out of 101. The 3-year return is 68.51%, ranking 61st.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_were_JSW_Steel_Q1_FY27_results\"><\/span><strong>What were JSW Steel Q1 FY27 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Net profit rose about 113% year on year to approximately Rs 4,696 crore on stronger steel prices and higher volumes. Steel sales reached a best-ever first quarter of 6.25 million tonnes, and net debt fell to about Rs 46,157 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_JSW_Steel_share_price_target\"><\/span><strong>What is the JSW Steel share price target?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> After the July 2026 results, domestic brokerages set targets of Rs 1,437 and Rs 1,351. Targets are opinions, not assurances, and depend on steel prices and costs.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Has_JSW_Steel_issued_a_bonus_or_split_in_the_last_five_years\"><\/span><strong>Has JSW Steel issued a bonus or split in the last five years?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. The last split was in 2017, when the face value changed from Rs 10 to Re 1, and there has been no bonus since. The 5-year return is genuine price appreciation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_JSW_Steel_stock_overvalued\"><\/span><strong>Is JSW Steel stock overvalued?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The headline PE near 11.4 is flattered by a one-time gain. Excluding it, the PE of this integrated steel stock is roughly 24, close to the industry average of about 24, so valuation looks fair rather than stretched.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_main_risks_for_JSW_Steel\"><\/span><strong>What are the main risks for JSW Steel?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Key risks are the steel price cycle, costly imported coking coal, heavy capex of about Rs 1.26 lakh crore, foreign currency debt and the expiry of the safeguard duty in April 2028.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which integrated steel stock rose 98% in 5 years?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"JSW Steel Ltd (NSE: JSWSTEEL) is the integrated steel stock that returned 98.27% over five years as of 10 September 2026. It ranked 54th among 101 NSE stocks in the screen.\"}},{\"@type\":\"Question\",\"name\":\"Why did the JSW Steel share price rise over five years?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The rise came from a record FY22 profit, the acquisition of Bhushan Power and Steel, the Dolvi expansion, steady capacity growth and a 2026 joint venture deal with JFE Steel that brought in about Rs 37,350 crore to cut debt.\"}},{\"@type\":\"Question\",\"name\":\"What is the 1-year return of JSW Steel?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"JSW Steel returned 14.29% over one year, ranking 66th out of 101. The 3-year return is 68.51%, ranking 61st.\"}},{\"@type\":\"Question\",\"name\":\"What were JSW Steel Q1 FY27 results?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Net profit rose about 113% year on year to approximately Rs 4,696 crore on stronger steel prices and higher volumes. 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Excluding it, the PE of this integrated steel stock is roughly 24, close to the industry average of about 24, so valuation looks fair rather than stretched.\"}},{\"@type\":\"Question\",\"name\":\"What are the main risks for JSW Steel?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Key risks are the steel price cycle, costly imported coking coal, heavy capex of about Rs 1.26 lakh crore, foreign currency debt and the expiry of the safeguard duty in April 2028.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A large Indian steel producer nearly doubled investor money in five years on acquisitions, expansion and a debt-cutting deal. Here is what drove the rally and the risks to weigh now.<\/p>\n","protected":false},"author":29,"featured_media":243215,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[],"class_list":["post-243216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["243215"],"rank_math_title":["Integrated Steel Stock Up 98% in 5 Years: Drivers and Risks"],"rank_math_description":["This integrated steel stock rose 98.27% in 5 years on acquisitions, capacity growth and a debt-cutting joint venture. See returns, financials, targets and risks."],"rank_math_focus_keyword":["integrated steel stock"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/integrated-steel-stock-rises-98-percent-in-5-years.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/243216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=243216"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/243216\/revisions"}],"predecessor-version":[{"id":243218,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/243216\/revisions\/243218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/243215"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=243216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=243216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=243216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}