The company's high debt is a concern. JSW's consolidated net debt stood at ₹69,498 crore as of December-end, up by 5.7% from September-end. The increase in debt was led by higher working capital and adverse forex impact.
"The increase in debt in Q3 means that JSW Steel's enterprise value is now close to its previous peaks, while earnings improvement at present is better for peers," said Satyadeep Jain, analyst at Ambit Capital. Enterprise value of a company is its market capitalization plus net debt.
This story is from the January 23, 2023 edition of Mint Mumbai.
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This story is from the January 23, 2023 edition of Mint Mumbai.
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