JSW Steel becomes the world's most valuable steelmaker with Rs. 2,59,883 crore (US$ 30.3 billion) market capitalisation

JSW Steel has become the world’s most valuable steelmaker, achieving a market capitalisation (mcap) of Rs. 2,59,969 crore (US$ 30.31 billion), surpassing ArcelorMittal at Rs. 2,32,780 crore (US$ 27.14 billion) and US-based Nucor Corporation at Rs. 2,52,164 crore (US$ 29.4 billion), according to Bloomberg data. Despite leading in mcap, ArcelorMittal remains ahead in revenue, reporting Rs. 5,35,205 crore (US$ 62.4 billion) over the past 12 months, compared to JSW Steel’s Rs. 1,80,975 crore (US$ 21.1 billion). The valuation disparity is reflected in the price-to-earnings (P/E) ratio, with JSW Steel trading at 28.5x, significantly higher than ArcelorMittal’s 20.3x. 

Founded in Karnataka, JSW Steel has evolved into India’s largest integrated steel producer, with a total capacity of 35.7 million tonnes per annum (MTPA) across India and the US, including six MTPA currently under commissioning. The company aims to increase its production capacity to 51.5 MTPA by FY31, with 50 MTPA located in India, driven by infrastructure investments and a growing domestic market. The stock has surged 17% since the start of the year, buoyed by rising steel prices and government intervention to curb imports. Additionally, JSW Steel plans to buy back 220 million shares in its Italian subsidiary, Piombino Steel, valued at Rs. 1,676.45 crore (US$ 195.5 million), as part of a broader global operational optimisation strategy. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.