Jindal Steel Ltd logo

Jindal Steel Ltd

JINDALSTEL NSE

Key Fundamentals

LargecapIron & SteelMetals & Mining
Market Cap
1.1L Cr
Volatility
Moderate
P/E Ratio
41.33
EBITDA
₹9,988 Cr
Return on Equity
6.48%
Debt to Equity
0.44
Book Value
₹498.97
EPS
₹54.82
52W High
₹1,306.2
52W Low
₹943.3

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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46 extracted metrics + investor summaries across FY08–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Weaknesses

3
  • The company has delivered a poor sales growth of 9.10% over past five years.
  • Company has a low return on equity of 9.84% over last 3 years.
  • Dividend payout has been low at 5.54% of profits over last 3 years

Growth Rate

Revenue Growth
6.93% ↗
Net Income Growth
18.10% ↗
Cash Flow Change
-33.44% ↘
ROE
8.00% ↗
ROCE
-8.70% ↘
EBITDA Margin (Avg.)
-3.33% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 4d ago
AI opinion · based on fundamentals
Risk high

Jindal Steel Ltd trades at a market cap of ~₹1.12 lakh crore with a PE of 41.4x and PB of 2.2x. FY26 consolidated gross revenue grew 8% YoY to ₹62,412 crore with PAT up 18% YoY, though the 5-year compounded profit CAGR remains modest at 1%. The company has expanded steelmaking capacity to 15.6 MTPA and reduced its debt-to-equity ratio to 0.43x, while India continues to be a net steel importer for the second consecutive year.

Bull Case 8
  • FY26 consolidated gross revenue rose 8% YoY to ₹62,412 crore, showing a return to top-line growth after 3-year sales CAGR of 0%
  • Stock has delivered strong 10-year price CAGR of 30% and 5-year CAGR of 21%, reflecting sustained long-term wealth creation
  • Steelmaking capacity expanded to 15.6 MTPA with FY27 production guidance of 11-11.5 MT, indicating improving utilization
  • Debt-to-equity ratio reduced to 0.43x with Net Debt/EBITDA at 1.26x as of FY25, showing disciplined balance sheet management
  • Q4 FY25 production rose 6% QoQ to 2.11 million tons and sales volume grew 12% QoQ to 2.13 million tons, demonstrating operational momentum
  • India remains a net steel importer for the second consecutive year, providing domestic demand tailwind and potential pricing support
  • 10-year compounded profit CAGR of 13% indicates long-term earnings scalability despite near-term cyclical headwinds
  • Management has stated it will not take on new debt for expansion, focusing on cost efficiencies and value-added products, protecting margins going forward
Bear Case 8
  • PE of 41.4x is elevated for a cyclical metals company, implying rich valuations relative to current earnings
  • TTM compounded profit declined 19%, indicating significant near-term earnings pressure despite revenue growth
  • 5-year compounded profit CAGR of just 1% shows poor earnings conversion despite 9% revenue CAGR over the same period
  • 3-year average ROE of ~9.84% is low for a capital-intensive business, suggesting sub-optimal returns on shareholder equity
  • Dividend payout has been only 5.54% of profits over the last 3 years with a current yield of just 0.18%, offering negligible income to shareholders
  • 5-year sales CAGR of 9.1% is below industry peers and reflects vulnerability to global steel price cycles
  • Last year ROE dropped to 8% from a 5-year average of 11%, suggesting deteriorating return quality in the recent period
  • Steel sector faces global overcapacity risk and Chinese export dumping concerns, which can compress domestic realizations

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

AI News Digest

Anthropic anthropic claude-opus-4.6 20h ago
Headwinds 2
  • Q1 profit drops 43% YoY Jul 27

    Consolidated net profit fell to ₹8.45b from ₹14.9b YoY, missing ₹9.3b estimate. EBITDA margin contracted sharply to 17.18% from 24.46% YoY, indicating significant margin squeeze.

  • VAT ITC disallowance order Jul 29

    Addl. Commissioner (Appeals), Cuttack disallowed VAT input tax credit on capital goods. Company states amounts are immaterial but reflects ongoing regulatory friction.

Positives 5
  • Revenue beats estimates by 10% Jul 27

    Q1 revenue rose to ₹155b from ₹123b YoY, beating the ₹140b estimate by over 10%. Top-line growth of 25.7% signals strong volume momentum.

  • Production target at 15.6 MT Jul 27

    Company targets 15.6 million tonnes steel production at full capacity utilization with FY27 sales forecast of 10.5-11 million tonnes. New blast furnace ramp-ups set for September and December.

  • BRSR filing shows ESG focus Aug 6

    Submitted Business Responsibility and Sustainability Report for FY2025-26, disclosing emissions metrics, workforce data, and CSR initiatives.

  • New MD and CFO appointed Jul 26

    Board appointed Vidya Rattan Sharma as MD and Sandeep Modi as CFO effective July 24, 2026, signaling leadership refresh.

  • Slurry pipeline ready by Aug-end Jul 27

    Slurry pipeline expected to be operational by end of August, strengthening raw material logistics and supporting capacity expansion plans.

Neutral 5
  • AGM set for August 28 Aug 7

    47th AGM scheduled August 28, 2026 via VC/OAVM. Record date for final dividend is August 21; e-voting opens August 25.

  • Investor meetings with LIC Aug 7

    Scheduled investor meetings for August 12-13, 2026 in Mumbai with LIC and Emkay Confluence participants.

  • Two independent directors appointed Jul 29

    Aabha Bakaya and V. Sehgal appointed as additional independent directors effective July 29, subject to shareholder approval.

  • ₹15.33Cr block trade on BSE Jul 23

    Approximately 147,432 shares traded at ₹1,040 per share in an institutional block trade worth ₹15.33 crore on BSE.

  • Earnings call recording uploaded Jul 25

    Audio recording of July 25, 2026 earnings call uploaded to official website per SEBI disclosure norms.

TL;DR: Jindal Steel delivered strong revenue growth of 25.7% YoY but profitability took a hit with a 43% drop in net profit due to severe margin compression (EBITDA margin down from 24.4% to 17.2%). The company is executing well on capacity expansion with a 15.6 MT production target, new blast furnace ramp-ups in Q2-Q3, and slurry pipeline commissioning by August-end. Key risk remains margin recovery — management has guided for loss recoupment in coming quarters, but execution against elevated costs will determine whether the trend reverses. The stock is in a volume-over-margin phase, and the next quarter will be critical to watch.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
12,588
12,250
11,701
13,487
13,618
11,213
11,751
13,183
12,294
11,686
13,027
16,218
15,482
Expenses
9,960
9,965
8,859
11,042
10,779
9,013
9,567
10,922
9,289
9,605
11,398
13,289
12,822
Operating Profit
2,628
2,285
2,843
2,444
2,839
2,200
2,184
2,262
3,006
2,081
1,629
2,929
2,660
OPM %
21%
19%
24%
18%
21%
20%
19%
17%
24%
18%
13%
18%
17%
Other Income
55
32
35
35
34
35
26
-1,158
30
22
-45
-550
19
Interest
329
329
315
321
332
326
313
342
297
371
406
442
548
Depreciation
588
604
636
995
683
696
698
691
722
750
839
862
926
PBT
1,767
1,384
1,927
1,164
1,859
1,213
1,199
72
2,018
982
339
1,074
1,205
Tax %
4%
0%
0%
20%
28%
29%
21%
523%
26%
35%
44%
3%
30%
Net Profit
1,692
1,390
1,928
933
1,338
860
951
-304
1,496
635
189
1,041
844
EPS in Rs
16.54
13.6
18.9
9.17
13.14
8.44
9.32
-3.33
14.65
6.26
1.87
10.24
8.28
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
19,359
19,469
21,603
33,286
46,966
37,923
34,579
51,166
53,212
50,354
50,129
53,455
56,413
Expenses
13,919
16,032
16,894
26,817
38,553
31,092
21,472
35,607
43,270
40,153
40,640
43,751
47,114
Operating Profit
5,440
3,437
4,709
6,469
8,412
6,831
13,107
15,559
9,942
10,202
9,488
9,704
9,299
OPM %
28%
18%
22%
19%
18%
18%
38%
30%
19%
20%
19%
18%
16%
Other Income
-1,644
-79
-362
-584
-1,470
74
-1,861
-1,884
-539
156
-1,065
-603
-554
Interest
2,606
3,254
3,441
3,866
4,264
3,768
2,753
1,888
1,446
1,294
1,312
1,517
1,768
Depreciation
2,733
4,068
3,949
3,883
5,480
3,429
2,414
2,097
2,691
2,822
2,768
3,171
3,376
PBT
-1,543
-3,964
-3,043
-1,864
-2,802
-291
6,078
9,690
5,266
6,241
4,344
4,413
3,600
Tax %
-6%
-22%
-17%
-13%
-14%
37%
30%
30%
25%
5%
34%
24%
—
Net Profit
-1,452
-3,087
-2,538
-1,616
-2,412
-400
4,267
6,766
3,974
5,943
2,846
3,361
2,709
EPS in Rs
-13.97
-32.42
-24.93
-14.56
-17
-1.07
35.62
56.4
31.11
58.21
27.57
33.01
26.65
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
5%
6%
3%
7%
6%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
91
91
92
97
97
102
102
101
100
100
101
102
Reserves
20,951
32,345
29,959
30,288
31,988
32,035
31,713
35,524
38,606
44,216
47,084
50,797
Borrowings
42,466
46,797
45,850
42,962
39,559
36,824
29,910
13,502
13,046
16,472
18,406
22,610
Other Liabilities
12,028
13,166
14,674
15,884
17,357
20,780
16,116
27,517
17,674
17,888
20,175
24,126
Total Liabilities
75,537
92,398
90,575
89,230
89,001
89,742
77,840
76,644
69,427
78,676
85,766
97,635
Fixed Assets
46,643
65,038
65,932
68,450
69,039
69,382
54,350
45,488
43,542
48,384
48,989
64,102
CWIP
9,068
11,827
9,716
4,978
4,027
3,126
1,712
2,538
7,870
9,611
16,725
8,372
Investments
1,785
392
368
146
150
181
1,156
470
907
819
2,201
3,168
Other Assets
18,040
15,142
14,559
15,657
15,784
17,054
20,624
28,147
17,108
19,862
17,851
21,993
Total Assets
75,537
92,398
90,575
89,230
89,001
89,742
77,840
76,644
69,427
78,676
85,766
97,635
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,182
4,333
6,850
7,724
9,027
8,814
11,961
16,048
7,347
6,008
10,824
7,204
Investing
-6,717
-2,262
-1,998
-1,431
-832
-1,476
-1,884
-2,331
-4,090
-8,344
-12,323
-10,734
Financing
5,708
-2,672
-5,108
-6,276
-8,261
-7,016
-4,612
-15,120
-2,500
1,381
809
2,803
Net Cash Flow
173
-601
-256
17
-67
322
5,465
-1,403
757
-955
-689
-727
Free Cash Flow
-3,868
480
4,496
6,103
7,837
7,308
11,124
13,176
945
-2,418
334
-2,343
CFO/OP
28
127
144
120
107
128
91
116
101
66
130
88
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
32
27
29
20
24
34
30
9
7
12
10
12
Inventory Days
323
181
185
191
146
207
196
130
87
117
87
115
Days Payable
137
129
150
162
117
181
133
94
69
78
88
126
Cash Conversion Cycle
218
79
64
50
53
60
92
45
24
52
8
1
Working Capital Days
87
-83
-141
-62
-58
-79
-65
-1
-38
-21
-35
-11
ROCE %
5%
-1%
1%
3%
4%
5%
17%
24%
14%
13%
11%
10%

Shareholding Pattern

As of Jun 2026
Promoters 62.69%
DIIs 19.52%
FIIs 8.84%
Public 5.75%
Others 3.20%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
60.47%
60.47%
60.47%
60.44%
60.45%
60.44%
61.20%
61.20%
61.20%
61.20%
61.20%
61.20%
61.20%
61.19%
61.19%
61.19%
62.22%
62.36%
62.37%
62.69%
62.69%
62.69%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
12.23%
0.00%
11.93%
12.63%
12.19%
10.99%
9.59%
9.76%
9.43%
9.02%
9.20%
8.84%
DIIs
16.36%
14.47%
14.85%
16.66%
17.11%
15.46%
14.57%
14.18%
13.91%
14.38%
15.22%
14.69%
14.73%
15.34%
16.05%
17.26%
17.72%
18.09%
18.74%
19.09%
19.13%
19.52%
Government
0.43%
0.73%
0.73%
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
8.19%
9.28%
9.18%
8.77%
7.65%
7.81%
7.26%
6.45%
6.30%
6.25%
6.29%
6.28%
6.26%
6.45%
6.42%
6.42%
6.36%
6.36%
6.06%
5.86%
5.68%
5.75%
Others
14.55%
15.04%
14.77%
14.12%
14.79%
16.28%
16.97%
18.17%
18.60%
18.18%
5.07%
17.84%
5.88%
4.38%
4.15%
4.15%
4.11%
3.43%
3.40%
3.33%
3.30%
3.20%
No. of Shareholders
0
1,76,106
2,70,135
3,04,802
2,99,954
2,56,046
3,01,830
2,72,333
2,35,473
2,30,774
2,38,054
2,50,732
2,59,991
2,80,533
2,87,902
2,98,258
3,05,285
3,02,190
2,90,386
2,82,086
2,71,333
2,76,544

Documents

1
Concall - Apr 2017 Apr 2017
2
Concall - Apr 2017 Apr 2017
3
Concall - Nov 2017 Nov 2017
4
Concall - Jan 2018 Jan 2018
5
Concall - Feb 2018 Feb 2018

Frequently Asked Questions about Jindal Steel Ltd

What does Jindal Steel Ltd do?
Jindal Steel & Power Ltd is one of the India's leading steel producers with significant presence in sectors like steel and mining. The group has global presence through subsidiaries, mainly in Australia, Botswana, Indonesia, Mauritius, Mozambique, Madagascar, Namibia, South Africa, Tanzania and Z...
Where is Jindal Steel Ltd (JINDALSTEL) listed?
Jindal Steel Ltd is listed on the Indian stock exchanges. It is listed on NSE: JINDALSTEL and BSE: 532286. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Jindal Steel Ltd belong to?
Jindal Steel Ltd operates in the Metals & Mining sector within the Iron & Steel industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Jindal Steel Ltd?
Jindal Steel Ltd has a market capitalisation of approximately ₹113576.61 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Jindal Steel Ltd?
The Price-to-Earnings (PE) ratio of Jindal Steel Ltd is 41.33. 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 Steel Ltd?
Over the past 52 weeks, Jindal Steel Ltd has traded between a low of ₹943.3 and a high of ₹1,306.2. This range helps investors understand the stock's price volatility and recent trading levels.
Does Jindal Steel Ltd pay dividends?
Yes, Jindal Steel Ltd has a dividend yield of 0.18%. 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 Steel Ltd?
Jindal Steel Ltd has a Return on Equity (ROE) of 6.48%. 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 Steel Ltd on Tapetide?
On Tapetide, you can view Jindal Steel 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 Steel & Power Ltd is one of the India's leading steel producers with significant presence in sectors like steel and mining. The group has global presence through subsidiaries, mainly in Australia, Botswana, Indonesia, Mauritius, Mozambique, Madagascar, Namibia, South Africa, Tanzania and Zambia.[1]

Website jindalsteelpower.com
Listed 1999-09-29
Face Value ₹ 1
Issued Size 1,02,00,88,097

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