JSW Steel cash flow

Latest FY26

Cash from operations: ₹25,152cr+20.4% on FY25
Capital spending: ₹14,654cr+15.4% on FY25
Free cash flow: ₹10,498cr+27.9% on FY25
Cash from financing: −₹16,111cr−₹262 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	9,601	9,309	8,172	7,474
	—	8,537	8,125	8,051	6,655
	—	−686	−547	−796	−643
	—	−24.0	−24.0	−21.0	−21.0
	—	−382	−47.0	−53.0	−5.0
	—	167	170	208	219
	—	2,460	0.0	−10.0	2,293
	—	0.0	584	34.0	13.0
	—	0.0	0.0	0.0	−83.0
	—	−17,313	595	−665	−838
	—	−3,176	2,609	−3,284	704
	—	−3,686	−866	−154	317
	—	−2,338	−1,229	−3,111	−2,812
	—	4,053	−1,096	−7,235	4,965
	—	1,464	0.0	0.0	0.0
	—	0.0	0.0	169	−69.0
	—	−25.0	−99.0	0.0	0.0
Cash from operating activities
	37,138	29,725	5,388	13,552	5,792
	—	−1,348	17,484	1,305	18,169
	—	28,377	22,872	14,857	23,961
	—	3,225	1,973	2,779	638
	—	25,152	20,899	12,078	23,323
Cash from investing activities
	—	14,654	12,694	15,801	14,324
	—	112	59.0	254	35.0
	—	0.0	0.0	0.0	112
	—	137	12,049	0.0	201
	—	0.0	6,274	51.0	5.0
	—	1,104	0.0	396	244
	—	105	0.0	0.0	0.0
	—	1,411	1,880	630	0.0
	—	29,375	0.0	0.0	0.0
	—	24.0	24.0	21.0	21.0
	—	672	660	899	600
	—	5,620	2,609	964	3,285
	—	18,602	−16,997	−14,638	−10,711
Cash from financing activities
	—	16,049	28,243	19,891	17,950
	—	21,695	18,758	16,328	14,158
	—	464	369	0.0	524
	—	—	—	632	0.0
	—	8,922	8,835	8,087	6,902
	—	685	1,785	822	4,194
	—	−394	1,242	1,151	1,851
	—	−16,111	−262	−4,827	−5,977
	—	27,643	3,640	−7,387	6,635
	—	−42.0	−15.0	−7.0	−19.0
	—	27,601	3,625	−7,394	6,616
	—	39,256	11,655	8,030	15,424
Reference items
	34,633	29,821	22,904	28,236	18,547
	17.4%	16.1%	13.6%	16.1%	11.2%
	10,498	10,498	8,205	−3,723	8,999
	—	1,151	9,752	−4,807	—
	₹43.02	₹43.02	₹33.63	−₹15.26	₹36.88
	29.18×	—	—	—	—
	—	0.99×	5.99×	1.35×	5.63×
	—	3,225	1,973	2,779	638
	—	8,922	8,835	8,087	6,902

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

JSWSTEEL₹1,255.40

JSW Steel Ltd.

· Metal & Mining

₹ CrorePeersTATASTEEL JINDALSTEL SAIL HINDALCO ADANIENT HINDZINC VEDL NMDCMcap ₹3.06L Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	7,474.0	8,172.0	9,309.0	9,601.0	—
+ Finance Costs	6,655.0	8,051.0	8,125.0	8,537.0	—
+ Interest Income	-643.0	-796.0	-547.0	-686.0	—
+ Dividend Income	-21.0	-21.0	-24.0	-24.0	—
+ Fair Value (Gains) / Losses	-5.0	-53.0	-47.0	-382.0	—
+ Share-based Payments	219.0	208.0	170.0	167.0	—
+ Unrealised FX (Gain) / Loss	2,293.0	-10.0	0.0	2,460.0	—
+ Other Non-cash Items	13.0	34.0	584.0	0.0	—
+ Other — Cash Effects are Investing / Financing	-83.0	0.0	0.0	0.0	—
+ Other Reconciling Items	-838.0	-665.0	595.0	-17,313.0	—
Changes in Working Capital
+ Inventories	704.0	-3,284.0	2,609.0	-3,176.0	—
+ Trade Receivables — Current	317.0	-154.0	-866.0	-3,686.0	—
+ Other Current Assets	-2,812.0	-3,111.0	-1,229.0	-2,338.0	—
+ Trade Payables — Current	4,965.0	-7,235.0	-1,096.0	4,053.0	—
+ Other Financial Liabilities — Current	0.0	0.0	0.0	1,464.0	—
+ Other Current Liabilities	-69.0	169.0	0.0	0.0	—
+ Provisions — Current	0.0	0.0	-99.0	-25.0	—
Cash from Operating Activities
Profit Before Tax (per I/S)	5,792.0	13,552.0	5,388.0	29,725.0	37,138.0
+ Total Adjustments (incl. Working Capital)	18,169.0	1,305.0	17,484.0	-1,348.0	—
Cash from Operations (pre-tax)	23,961.0	14,857.0	22,872.0	28,377.0	—
+ Income Taxes Paid	638.0	2,779.0	1,973.0	3,225.0	—
Cash from Operating Activities	23,323.0	12,078.0	20,899.0	25,152.0	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	14,324.0	15,801.0	12,694.0	14,654.0	—
+ Disp of Fixed Assets	35.0	254.0	59.0	112.0	—
+ Disp of Investment Property	112.0	0.0	0.0	0.0	—
+ Purchase of Investments (Equity / Debt)	201.0	0.0	12,049.0	137.0	—
+ Sale of Investments (Equity / Debt)	5.0	51.0	6,274.0	0.0	—
+ Acq of Interests in Joint Ventures	244.0	396.0	0.0	1,104.0	—
+ Disp of Interests in Joint Ventures	0.0	0.0	0.0	105.0	—
+ Acq of Subsidiaries / Businesses (net)	0.0	630.0	1,880.0	1,411.0	—
+ Disp of Subsidiaries / Businesses (net)	0.0	0.0	0.0	29,375.0	—
+ Dividends Received — Investing	21.0	21.0	24.0	24.0	—
+ Interest Received — Investing	600.0	899.0	660.0	672.0	—
+ Other Inflows / (Outflows) — Investing	3,285.0	964.0	2,609.0	5,620.0	—
Cash from Investing Activities	-10,711.0	-14,638.0	-16,997.0	18,602.0	—
Cash from Financing Activities
+ Proceeds from Borrowings	17,950.0	19,891.0	28,243.0	16,049.0	—
+ Repayment of Borrowings	14,158.0	16,328.0	18,758.0	21,695.0	—
+ Payment of Lease Liabilities	524.0	0.0	369.0	464.0	—
+ Payment of Finance Lease Liabilities	0.0	632.0	—	—	—
+ Interest Paid	6,902.0	8,087.0	8,835.0	8,922.0	—
+ Dividends Paid	4,194.0	822.0	1,785.0	685.0	—
+ Other Inflows / (Outflows) — Financing	1,851.0	1,151.0	1,242.0	-394.0	—
Cash from Financing Activities	-5,977.0	-4,827.0	-262.0	-16,111.0	—
Net Changes in Cash (pre-FX)	6,635.0	-7,387.0	3,640.0	27,643.0	—
+ Effect of FX Rate Changes on Cash	-19.0	-7.0	-15.0	-42.0	—
Net Changes in Cash	6,616.0	-7,394.0	3,625.0	27,601.0	—
Closing Cash	15,424.0	8,030.0	11,655.0	39,256.0	—
Reference Items
EBITDA	18,547.0	28,236.0	22,904.0	29,821.0	34,633.0
EBITDA Margin %	11.18	16.13	13.57	16.08	17.40
Free Cash Flow (CFO − Capex)	8,999.0	-3,723.0	8,205.0	10,498.0	10,498.0
Free Cash Flow to Equity	—	-4,807.0	9,752.0	1,151.0	—
Free Cash Flow per Basic Share	36.88	-15.26	33.63	43.02	43.02
Price to Free Cash Flow	—	—	—	—	29.18
Cash Flow to Net Income	5.63	1.35	5.99	0.99	—
Cash Paid for Taxes	638.0	2,779.0	1,973.0	3,225.0	—
Cash Paid for Interest	6,902.0	8,087.0	8,835.0	8,922.0	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.