The primary objective of the Debt-Equity Ratios and Business Performance review is to evaluate the impact of financial leverage and JSW Steel’s capital structure on operational profitability and efficiency. The ratio of a company’s total debt to its total equity is a critical metric for assessing its financial health, as it indicates the percentage of total assets that are funded by debt in comparison to equity. This paper examines the most recent fluctuations in JSW Steel’s debt-to-equity ratio by employing key performance metrics such as return on equity, net profit margin, and earnings per share as benchmarks. Examining the company’s strategies for managing debt commitments, maintaining growth while maximizing shareholder value, and achieving a balance between risk and return are all components of the examination. The paper emphasizes the relationship between leverage and business success, providing insights into JSW Steel’s long-term viability and strategic financial decisions through the use of financial ratio analysis and performance evaluation tools.