Jindal Saw Ltd logo

Jindal Saw Ltd

JINDALSAW NSE

Jindal Saw Ltd manufactures LSAW pipes, HSAW pipes, DI pipes, seamless pipes and pellets.[1]

AI Verdict: HOLD Confidence: 5%

Jindal Saw trades at a reasonable PE of 18.2x with unanimous analyst buy ratings, but TTM sales decline of -14% and profit degrowth of -44% signal near-term earnings pressure. The stock's strong 5-year CAGR of 37% reflects past re-rating, but deteriorating working capital and low dividend payout limit upside from current levels.

Key Fundamentals

SmallcapIron & Steel ProductsIndustrial Products
Market Cap
₹16,362 Cr
Volatility
Moderate
P/E Ratio
17.13
EBITDA
₹2,306 Cr
Return on Equity
17%
Debt to Equity
0.4
Book Value
₹196.62
EPS
₹57.92
52W High
₹269.91
52W Low
₹153

Technical Indicators

Key Insights

Weaknesses

5
  • The company has delivered a poor sales growth of 10.9% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 13.9% over last 3 years.
  • Dividend payout has been low at 9.37% of profits over last 3 years
  • Working capital days have increased from 42.0 days to 65.9 days

Growth Rate

Revenue Growth
-14.13% ↘
Net Income Growth
-36.54% ↗
Cash Flow Change
-24.14% ↘
ROE
-43.43% ↗
ROCE
-49.23% ↘
EBITDA Margin (Avg.)
-24.32% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk high

Jindal Saw trades at a reasonable PE of 18.2x with unanimous analyst buy ratings, but TTM sales decline of -14% and profit degrowth of -44% signal near-term earnings pressure. The stock's strong 5-year CAGR of 37% reflects past re-rating, but deteriorating working capital and low dividend payout limit upside from current levels.

Bull Case 8
  • All 4 analysts covering the stock have a Buy rating, representing 100% buy consensus
  • 5-year stock price CAGR of 37% demonstrates strong long-term wealth creation for shareholders
  • Price-to-book ratio of 1.34x is reasonable for an industrial company with Rs 16,930 Cr market cap
  • 5-year compounded profit growth of 25% shows the company has historically delivered strong earnings expansion
  • 10-year compounded profit growth of 42% indicates sustained long-term earnings compounding ability
  • PE ratio of 18.2x is not excessively demanding for a mid-cap industrial with demonstrated growth track record
  • 3-year ROE of 14% is acceptable for a capital-intensive pipe manufacturing business
  • 10-year stock CAGR of 27% significantly outperforms broader market indices over the same period
Bear Case 8
  • TTM compounded profit growth has collapsed to -44%, indicating severe near-term earnings deterioration
  • TTM sales growth of -14% signals demand slowdown or loss of order momentum in the current year
  • Working capital days have increased sharply from 42.0 days to 65.9 days, a 57% deterioration tying up more capital
  • Dividend payout of only 9.37% of profits over last 3 years offers minimal income return to shareholders
  • Last year ROE declined to just 8%, down from 3-year average of 14%, showing profitability compression
  • 5-year compounded sales growth of only 11% and 3-year sales CAGR of 0% show revenue stagnation
  • Dividend yield of just 0.76% provides negligible downside cushion in a high interest rate environment
  • Poor sales growth of 10.9% over five years for a cyclical industrial limits re-rating potential

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 4
  • ₹2 dividend declared for FY26 Jun 15

    Jindal Saw approved a ₹2 per share dividend for FY26 at its 41st AGM, signaling confidence in cash flows.

  • ₹1,000 crore debenture raise approved Jun 15

    Shareholders authorized raising up to ₹1,000 crore via debentures, providing capital for growth initiatives.

  • ₹14,000 crore related party transactions Jun 15

    Board approved ₹14,000 crore in related party transactions for FY27, indicating significant business activity within the group.

  • Heavy institutional investor interest Jun 24

    Multiple meetings scheduled with SBI MF, SBI Life, Motilal Oswal MF, Trust MF, ICICI Direct, and Quest Investment Managers between June 4-30, reflecting strong institutional engagement.

Neutral 3
  • No share encumbrance by promoters Jun 22

    Siddeshwari Tradex and 46 other entities declared no new encumbrance on Jindal Saw shares for FY ended March 31, 2026.

  • 41st AGM held on May 29 May 29

    Jindal Saw held its 41st AGM via video conferencing, addressing 11 agenda items including dividend declaration and director appointments.

  • Series of investor meets in June Jun 24

    Company scheduled virtual and in-person investor meetings with Dalal & Broacha, Trust MF, Motilal Oswal MF, SBI Life, SBI MF, Quest, ICICI Direct, and Aionios Alpha between June 4-30, 2026.

TL;DR: Jindal Saw shows no visible headwinds in recent news flow. The company is rewarding shareholders with a ₹2 dividend, has secured approval for ₹1,000 crore in debt capital, and is seeing robust institutional investor engagement through June 2026. The trend appears stable with a growth-oriented posture, though investors should monitor execution on the large ₹14,000 crore related party transactions and end-use of debenture proceeds.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
5,188
4,410
5,466
5,656
5,425
4,939
5,572
5,271
5,047
4,085
4,234
4,943
4,633
Expenses
4,588
3,803
4,663
4,668
4,505
4,100
4,658
4,332
4,310
3,415
3,782
4,331
4,156
Operating Profit
600
608
804
988
920
840
914
939
736
670
451
613
478
OPM %
12%
14%
15%
17%
17%
17%
16%
18%
15%
16%
11%
12%
10%
Other Income
79
37
22
40
69
51
37
29
28
29
40
22
23
Interest
162
160
189
182
174
154
158
173
139
171
153
133
163
Depreciation
126
132
141
147
149
148
151
151
153
153
156
155
167
PBT
392
354
496
700
667
588
643
645
473
374
183
347
172
Tax %
24%
31%
28%
27%
28%
29%
26%
26%
82%
-11%
24%
29%
28%
Net Profit
298
244
356
512
480
416
475
479
87
415
139
248
124
EPS in Rs
5.58
4.14
5.9
8.34
7.85
6.9
7.81
7.92
4.55
6.63
2.38
4.03
2.18
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
8,208
7,703
7,070
8,507
12,117
11,627
10,664
13,298
17,868
20,958
20,829
17,895
Expenses
7,254
6,979
6,393
7,466
10,645
10,116
9,422
11,899
16,192
17,631
17,385
15,666
Operating Profit
954
723
677
1,041
1,472
1,511
1,242
1,399
1,676
3,326
3,444
2,229
OPM %
12%
9%
10%
12%
12%
13%
12%
11%
9%
16%
17%
12%
Other Income
76
136
330
24
515
-3
209
155
155
162
130
97
Interest
606
679
569
579
615
620
493
460
642
705
623
620
Depreciation
335
328
337
363
396
422
459
473
470
568
602
630
PBT
89
-148
101
122
975
467
499
621
719
2,216
2,349
1,076
Tax %
131%
-46%
62%
109%
22%
1%
34%
40%
37%
28%
38%
14%
Net Profit
-27
-80
39
-11
764
461
328
376
452
1,593
1,458
925
EPS in Rs
-0.25
-0.66
1.78
2.79
13.29
8.67
4.99
6.44
10.07
26.22
27.18
15.22
Div. Payout %
-200%
-76%
28%
22%
8%
12%
20%
16%
15%
8%
7%
13%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
58
61
64
64
64
64
64
64
64
64
64
64
Reserves
5,332
5,061
5,322
5,432
6,218
6,700
6,919
7,300
7,857
10,029
11,347
12,510
Borrowings
8,102
7,547
6,222
6,311
5,692
5,649
5,335
6,031
4,961
5,761
4,859
4,691
Other Liabilities
2,507
1,676
1,248
1,389
2,807
2,669
3,497
3,048
5,001
4,824
4,395
4,307
Total Liabilities
15,999
14,346
12,856
13,197
14,781
15,082
15,815
16,443
17,883
20,679
20,665
21,572
Fixed Assets
8,239
7,977
7,455
7,120
7,163
7,491
7,316
7,357
7,484
8,853
9,341
10,409
CWIP
531
254
102
126
260
423
404
293
300
632
641
453
Investments
309
154
119
110
190
129
198
224
175
178
168
105
Other Assets
6,921
5,961
5,180
5,840
7,169
7,039
7,898
8,570
9,924
11,016
10,516
10,606
Total Assets
15,999
14,346
12,856
13,197
14,781
15,082
15,815
16,443
17,883
20,679
20,665
21,572
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-183
917
1,163
565
1,567
1,665
1,570
73
1,616
2,593
2,335
1,771
Investing
-867
-517
-428
-121
-518
-468
-359
-190
-68
-1,917
-897
-947
Financing
1,253
-512
-816
-470
-977
-1,168
-831
61
-1,966
-12
-1,524
-1,073
Net Cash Flow
203
-112
-81
-25
72
28
379
-55
-419
663
-86
-249
Free Cash Flow
-895
434
877
377
1,071
1,107
1,173
-279
1,379
1,741
1,324
706
CFO/OP
-9
137
188
61
118
122
134
16
106
87
86
92
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
91
83
71
83
67
59
73
50
73
60
62
63
Inventory Days
257
210
221
183
156
141
177
173
134
147
152
191
Days Payable
77
42
39
42
88
74
117
71
98
89
78
95
Cash Conversion Cycle
271
250
253
224
134
126
132
152
109
119
136
159
Working Capital Days
26
30
37
42
12
-12
-17
-15
15
19
41
66
ROCE %
6%
4%
4%
7%
11%
10%
8%
9%
11%
21%
19%
10%

Shareholding Pattern

As of Mar 2026
Promoters 63.25%
Public 13.97%
FIIs 13.46%
DIIs 5.80%
Others 3.53%
Total 100.01%
  Jun 2006Sep 2006Dec 2006Mar 2007Jun 2007Sep 2007Dec 2007Mar 2008Jun 2008Sep 2008Dec 2008Mar 2009Jun 2009Sep 2009Dec 2009Mar 2010Jun 2010Sep 2010Dec 2010Mar 2011Jun 2011Sep 2011Dec 2011Mar 2012Jun 2012Sep 2012Dec 2012Mar 2013Jun 2013Sep 2013Dec 2013Mar 2014Jun 2014Sep 2014Dec 2014Mar 2015Jun 2015Sep 2015Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
42.74%
42.72%
42.57%
42.63%
42.22%
42.22%
44.60%
43.76%
43.77%
43.76%
43.76%
43.76%
43.76%
46.44%
46.44%
46.44%
46.00%
46.00%
46.00%
46.00%
46.00%
46.00%
45.99%
46.00%
46.00%
45.99%
46.00%
46.00%
46.24%
46.27%
46.27%
46.27%
46.27%
46.27%
46.27%
48.83%
51.27%
51.27%
63.02%
63.02%
63.02%
63.02%
63.02%
63.02%
63.02%
63.02%
63.25%
63.26%
63.26%
63.26%
63.27%
63.28%
63.28%
63.28%
63.28%
63.26%
63.25%
63.25%
63.25%
FIIs
15.88%
15.48%
14.08%
16.53%
16.69%
12.59%
12.42%
17.09%
16.48%
18.93%
19.04%
17.37%
20.36%
22.19%
20.39%
20.51%
19.68%
21.36%
22.39%
22.57%
21.66%
21.84%
21.98%
22.43%
22.32%
21.17%
17.31%
18.71%
18.71%
18.45%
17.65%
17.24%
18.67%
18.11%
11.46%
10.91%
10.17%
10.19%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
17.70%
15.22%
14.65%
15.06%
16.08%
15.73%
16.99%
15.12%
15.35%
14.10%
13.46%
DIIs
13.89%
13.83%
16.92%
17.80%
18.97%
18.46%
16.86%
17.21%
23.07%
15.21%
15.03%
14.47%
11.62%
10.21%
10.92%
10.79%
12.38%
11.63%
11.45%
11.65%
11.53%
11.40%
11.32%
11.35%
11.36%
11.36%
11.41%
11.22%
11.32%
11.42%
11.44%
11.80%
12.05%
11.94%
13.13%
13.15%
13.18%
13.66%
0.83%
0.71%
0.46%
0.46%
0.44%
0.44%
0.86%
0.92%
1.21%
1.18%
1.67%
2.27%
3.00%
3.88%
4.54%
4.70%
4.40%
4.77%
4.36%
3.50%
5.80%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
9.29%
8.44%
7.92%
6.64%
6.11%
6.41%
6.50%
6.26%
6.48%
6.17%
6.43%
6.98%
7.22%
6.67%
6.86%
6.68%
6.39%
5.77%
5.73%
5.31%
5.44%
5.44%
5.26%
5.05%
5.00%
5.02%
5.94%
6.11%
6.11%
6.28%
6.93%
7.85%
7.26%
7.91%
10.71%
11.09%
10.88%
10.76%
20.64%
19.83%
19.04%
19.28%
20.01%
19.83%
19.76%
19.61%
16.47%
15.60%
13.56%
14.82%
15.24%
14.28%
13.04%
13.28%
12.85%
13.55%
14.06%
15.81%
13.97%
Others
18.20%
19.53%
18.52%
16.41%
16.01%
20.33%
19.62%
15.67%
10.19%
15.92%
15.74%
17.41%
17.03%
14.50%
15.40%
15.59%
15.54%
15.25%
14.43%
14.46%
15.37%
15.32%
15.46%
15.17%
15.33%
16.45%
19.35%
17.97%
17.61%
17.57%
17.70%
16.83%
15.75%
15.76%
18.43%
16.02%
14.51%
14.12%
15.51%
16.44%
17.48%
17.24%
16.53%
16.71%
16.36%
16.45%
19.08%
19.96%
3.81%
4.43%
3.84%
3.51%
3.07%
3.01%
2.48%
3.30%
2.98%
3.35%
3.53%
No. of Shareholders
12,330
14,963
14,930
12,710
12,330
14,397
17,855
21,128
24,650
22,977
23,496
25,066
26,220
24,345
32,910
33,960
35,650
33,050
35,962
33,032
35,153
35,101
34,058
31,761
31,716
31,851
33,066
35,534
35,150
35,102
36,008
37,523
35,471
36,523
41,771
45,906
46,727
46,855
78,673
85,626
91,036
99,061
1,13,114
1,12,135
1,10,357
1,05,756
85,839
83,048
92,000
1,16,181
1,19,422
1,37,358
1,48,683
1,72,209
1,74,189
1,87,168
1,96,760
2,13,816
2,07,732

Documents

Frequently Asked Questions about Jindal Saw Ltd

What does Jindal Saw Ltd do?
Jindal Saw Ltd manufactures LSAW pipes, HSAW pipes, DI pipes, seamless pipes and pellets.[1]
Where is Jindal Saw Ltd (JINDALSAW) listed?
Jindal Saw Ltd is listed on the Indian stock exchanges. It is listed on NSE: JINDALSAW and BSE: 500378. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Jindal Saw Ltd belong to?
Jindal Saw Ltd operates in the Industrials sector within the Industrial Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Jindal Saw Ltd?
Jindal Saw Ltd has a market capitalisation of approximately ₹16361.82 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Jindal Saw Ltd?
The Price-to-Earnings (PE) ratio of Jindal Saw Ltd is 17.13. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Jindal Saw Ltd?
Over the past 52 weeks, Jindal Saw Ltd has traded between a low of ₹153 and a high of ₹269.91. This range helps investors understand the stock's price volatility and recent trading levels.
Does Jindal Saw Ltd pay dividends?
Yes, Jindal Saw Ltd has a dividend yield of 0.77%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Jindal Saw Ltd?
Jindal Saw Ltd has a Return on Equity (ROE) of 17.00%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Jindal Saw Ltd on Tapetide?
On Tapetide, you can view Jindal Saw Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Jindal Saw Ltd manufactures LSAW pipes, HSAW pipes, DI pipes, seamless pipes and pellets.[1]

Website jindalsaw.com
CEO Mr. Vinay Kumar Gupta C.A.
Employees 7,511
Listed 2003-04-29
Face Value ₹ 1
Issued Size 63,95,08,234

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