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International Journal for Research Trends and Innovation
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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Issue: July 2026
Volume 11 | Issue 7
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Impact Factor : 8.14
Issue per Year : 12
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Issue Published : 122
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| Paper Title: | A Comparative Study of Capital Structure Decisions: JSW Steel vs Tata Steel |
| Authors Name: | DURVESH UMESH SARANG , Prof. Ritu Tuli |
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IJRTI_213941
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| Published Paper Id: | IJRTI2607027 |
| Published In: | Volume 11 Issue 7, July-2026 |
| DOI: | |
| Abstract: | The capital structure decisions of large corporations significantly influence their long-term financial stability, growth trajectory, and resilience to market fluctuations. In the Indian steel industry—one of the most capital-intensive and cyclical sectors—these financing choices carry substantial operational and financial risk implications. This study presents a comparative evaluation of the capital structure strategies of India's two prominent steel manufacturers: JSW Steel and Tata Steel. Utilizing secondary financial data from FY2019–20 through FY2023–24, this paper evaluates leverage patterns, debt-equity compositions, interest coverage metrics, and risk-return trade-offs. The empirical analysis demonstrates that while both firms possess similar gross indebtedness profiles (~₹85,000–87,000 crores), JSW Steel manages a more aggressive, growth-driven leverage model supported by robust domestic operational profitability. Conversely, Tata Steel adopts a balanced capital structure, but remains highly susceptible to financial stress due to volatile earnings stemming from its international operations. The findings reveal that capital structure sustainability is heavily dependent on operational earnings stability rather than the mere volume of debt. |
| Keywords: | Capital Structure, Leverage, Debt–Equity Ratio, Interest Coverage, Financial Risk, Corporate Finance, Tata Steel, JSW Steel. |
| Cite Article: | "A Comparative Study of Capital Structure Decisions: JSW Steel vs Tata Steel", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2456-3315, Vol.11, Issue 7, page no.a275-a282, July-2026, Available :http://www.ijrti.org/papers/IJRTI2607027.pdf |
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2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2607027
Registration ID:213941
Published In: Volume 11 Issue 7, July-2026
DOI (Digital Object Identifier):
Page No: a275-a282 Country: Mumbai, Maharashtra, India Research Area: Management Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2607027 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2607027 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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