The present study discusses the relationship between both operating leverage & financial leverage and profitability ratios of JSW Steels Limited during the period 2011-12 to 2015-16. The purpose of this paper is also to understand the profitability position of the company and to what extent leverages influences the profitability in which direction. This study found that the firm has recorded low profits during first four years of the study. However, it has incurred losses during fifth year

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... -16) of the study and also concluded that leverages are negatively impacted on profitability of the firm during the study period.