JSW Steel becomes world's most valuable steelmaker

JSW Steel, owned by Sajjan Jindal, has emerged as the world's most valuable steelmaker, boasting a market capitalisation (mcap) of nearly $30.31 billion, according to Bloomberg data.

- ISHITA AYAN DUTT & DEV CHATTERJEE

The milestone sees the Indian major outpacing industry titans such as LN Mittal-owned ArcelorMittal, the world's biggest steelmaker, at $27.14 billion, and Nucor Corporation of the US at $29.4 billion.

While JSW Steel leads in mcap, ArcelorMittal remains appreciably ahead in revenue, reporting $62.4 billion over the past 12 months compared to JSW's $21.1 billion. The disparity in valuation metrics is striking: JSW Steel trades at a price-to-earnings ratio of 28.5x, markedly higher than ArcelorMittal's 20.3x.

Founded in 1907, Tata Steel, a subsidiary of Tata Sons, ranks fifth in mcap at $23 billion, according to Bloomberg data. The shift in rankings reflects the evolving dynamics of the global steel industry, where Indian producers are increasingly asserting their presence, industry experts say.