JSW Steel is one of the leading integrated steel companies in India. It has a strategic collaboration with global leader JFE Steel of Japan, enabling JSW to access new and state-of-the art technologies to produce and offer high value special steel products to its customers.
JSW Steel reported healthy operational performance for Q3FY23; wherein consolidated topline, EBITDA and PAT came in higher than our estimate.
JSW Steel’s share price has given a return of ~96% over the last two years (from ~₹ 378 in January 2021 to ~₹ 741 in January 2023).
We value JSW Steel at ₹ 825, 7x FY24E EV/EBITDA.
In our metal and mining coverage we like Midhani.
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