ABSTRACT
Financing policy of the units has been examined by studying their debt to equity ratio of the units. Degree of financial leverage has been further calculated to measure the level of financial risk of the units. Every time the firm makes an investment decision, it involves the financing decision. The steel industry has a number of players with large production capacities. Many companies are investing heavily in new manufacturing facilities to scale up production in near future. India is indeed a strategic producer of steel globally and companies in India are going for organic and inorganic growth to boost their production capacities. Availability of cheap labour, iron ore and strong domestic demand has led to the growth of the steel industry in India. JSW is an integrated steel manufacturer and is the largest steel producer in India in terms of installed capacity.
