---
title: "Jindal Stainless (Hisar) Ltd(Merged) (JSLHISAR) — Share Price, Financials & Analysis"
symbol: "JSLHISAR"
company: "Jindal Stainless (Hisar) Ltd(Merged)"
canonical: "https://tapetide.com/stocks/JSLHISAR"
nse_symbol: "JSLHISAR"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-09-13T20:39:29.416Z"
---

# Jindal Stainless (Hisar) Ltd(Merged) (JSLHISAR)

Canonical page: https://tapetide.com/stocks/JSLHISAR

## Company

- **NSE Symbol:** JSLHISAR
- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** DELISTED
- **Listed Since:** 2016-01-28
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** jshlstainless.com

## About

Jindal Stainless (Hisar) Limited is a leading manufacturer of stainless steel flat products in austenitic, ferritic, martensitic and duplex grades. [1]

## Latest Price

- **Price:** ₹562.8
- **Change:** 0 (0%)
- **Open:** ₹543
- **Day High:** ₹576.9
- **Day Low:** ₹536.9
- **Previous Close:** ₹562.8
- **Volume:** 0
- **As Of:** 2023-03-08T04:52:03+00:00

## Key Insights

### Strengths

- Company has delivered good profit growth of 48.6% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 34.6%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Contingent liabilities of Rs.4,639 Cr.
- Earnings include an other income of Rs.557 Cr.
- Debtor days have increased from 35.9 to 43.1 days.
- Working capital days have increased from 28.8 days to 63.9 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -13% | 75% | 49% |
| revenue growth | 16% | 13% | 14% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 2246 | 852 | 2298 | 3147 | 3103 | 2776 | 3743 | 4173 | 4318 | 3454 | 3926 | 4285 |
| Expenses | 2079 | 850 | 2007 | 2759 | 2697 | 2364 | 3176 | 3604 | 3714 | 3117 | 3603 | 3918 |
| Operating Profit | 167 | 3 | 291 | 387 | 406 | 412 | 567 | 569 | 605 | 337 | 323 | 367 |
| OPM % | 7 | 0.3 | 13 | 12 | 13 | 15 | 15 | 14 | 14 | 10 | 8 | 9 |
| Other Income | 48 | 31 | 68 | 94 | 142 | 133 | 149 | 176 | 206 | 131 | 82 | 138 |
| Interest | 71 | 73 | 69 | 65 | 45 | 33 | 24 | 36 | 39 | 33 | 31 | 22 |
| Depreciation | 76 | 72 | 74 | 73 | 71 | 64 | 62 | 63 | 61 | 55 | 57 | 55 |
| Profit before tax | 68 | -112 | 216 | 343 | 432 | 448 | 630 | 647 | 711 | 380 | 317 | 428 |
| Tax % | -59 | -16 | 22 | 21 | 19 | 20 | 21 | 20 | 19 | 19 | 20 | 20 |
| Net Profit | 108 | -94 | 169 | 270 | 351 | 359 | 499 | 515 | 575 | 308 | 253 | 344 |
| EPS in Rs | 4.46 | -3.93 | 7.08 | 11.43 | 14.83 | 15.18 | 21.09 | 21.78 | 24.3 | 13.05 | 10.75 | 14.6 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 8152 | 7235 | 7774 | 10357 | 10289 | 9379 | 9400 | 15011 | 15984 |
| Expenses | 0 | 7408 | 6373 | 6792 | 9126 | 9248 | 8443 | 8270 | 12858 | 14351 |
| Operating Profit | 0 | 744 | 862 | 983 | 1231 | 1040 | 936 | 1130 | 2154 | 1632 |
| OPM % | — | 9 | 12 | 13 | 12 | 10 | 10 | 12 | 14 | 10 |
| Other Income | 0 | 42 | -20 | 141 | 283 | 186 | 178 | 291 | 663 | 557 |
| Interest | 0 | 475 | 493 | 431 | 408 | 367 | 323 | 251 | 131 | 126 |
| Depreciation | 0 | 313 | 305 | 285 | 284 | 289 | 295 | 290 | 250 | 228 |
| Profit before tax | 0 | -1 | 44 | 407 | 821 | 570 | 497 | 880 | 2436 | 1836 |
| Tax % | — | 310 | 16 | 29 | 28 | 30 | 19 | 21 | 20 | — |
| Net Profit | 0 | -6 | 36 | 290 | 588 | 396 | 401 | 696 | 1947 | 1479 |
| EPS in Rs | — | -268 | 1.58 | 12.15 | 24.5 | 16.17 | 16.65 | 29.41 | 82.34 | 62.7 |
| Dividend Payout % | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.01 | 0 | 46 | 47 | 47 | 47 | 47 | 47 | 47 | 47 |
| Reserves | 0 | 501 | 563 | 846 | 1427 | 1806 | 2224 | 2924 | 4862 | 5425 |
| Borrowings | 0 | 1054 | 2007 | 3514 | 2935 | 2367 | 2181 | 1481 | 1845 | 1564 |
| Other Liabilities | 0 | 4638 | 2917 | 2270 | 2347 | 2273 | 2132 | 2585 | 3113 | 3235 |
| Total Liabilities | 0 | 6192 | 5533 | 6678 | 6756 | 6493 | 6584 | 7037 | 9867 | 10270 |
| Fixed Assets | 0 | 2801 | 2546 | 2430 | 2290 | 2190 | 2108 | 1961 | 1968 | 2015 |
| CWIP | 0 | 29 | 61 | 42 | 66 | 95 | 107 | 183 | 161 | 127 |
| Investments | 0 | 370 | 369 | 418 | 571 | 622 | 647 | 798 | 1339 | 1535 |
| Other Assets | 0 | 2992 | 2558 | 3787 | 3829 | 3587 | 3722 | 4095 | 6399 | 6594 |
| Total Assets | 0 | 6192 | 5533 | 6678 | 6756 | 6493 | 6584 | 7037 | 9867 | 10270 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | 492 | 919 | 690 | 1454 | 1130 | 710 | 1305 | -3 |
| Cash from Investing Activity | — | -2 | -1397 | -1780 | -466 | -181 | -205 | -355 | -182 |
| Cash from Financing Activity | — | -471 | 485 | 1081 | -989 | -939 | -504 | -961 | 202 |
| Net Cash Flow | — | 19 | 7 | -9 | 0 | 11 | 1 | -11 | 18 |
| Free Cash Flow | — | 465 | 835 | 555 | 1269 | 934 | 494 | 1085 | -206 |
| CFO/OP | — | 67 | 107 | 74 | 132 | 126 | 94 | 125 | 28 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | — | 43 | 42 | 49 | 30 | 31 | 29 | 36 | 43 |
| Inventory Days | — | 95 | 93 | 125 | 87 | 79 | 90 | 95 | 96 |
| Days Payable | — | 101 | 82 | 120 | 85 | 84 | 83 | 100 | 79 |
| Cash Conversion Cycle | — | 37 | 53 | 55 | 32 | 26 | 36 | 31 | 60 |
| Working Capital Days | — | -119 | -70 | -2 | -1 | 3 | 13 | 9 | 64 |
| ROCE % | — | 58 | 28 | 23 | 27 | 21 | 18 | 24 | 46 |

## Shareholding Pattern

### annual

| Category | Jan 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Dec 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 56.79% | 57.67% | 57.67% | 57.67% | 57.67% | 57.67% | 58.88% | 58.88% |
| FIIs | 0% | 19.2% | 19.13% | 20.93% | 20.6% | 20.69% | 20.53% | 21.07% |
| DIIs | 17.93% | 5.26% | 3.25% | 3.72% | 5.41% | 4.02% | 4.29% | 4.73% |
| Public | 25.26% | 17.87% | 19.95% | 17.69% | 16.32% | 17.63% | 16.29% | 15.31% |
| No. of Shareholders | 46046 | 42937 | 50957 | 55784 | 52403 | 56445 | 61617 | 55767 |

### Quarterly

| Category | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 57.67% | 57.67% | 57.67% | 57.67% | 57.67% | 58.08% | 58.87% | 58.88% | 58.88% | 58.88% | 58.88% | 58.88% |
| FIIs | 20.6% | 20.55% | 20.44% | 21.12% | 20.69% | 20.97% | 20.67% | 20.12% | 20.53% | 20.73% | 20.64% | 21.07% |
| DIIs | 5.41% | 5.11% | 3.97% | 3.88% | 4.02% | 4.08% | 4.12% | 4.11% | 4.29% | 4.56% | 4.61% | 4.73% |
| Public | 16.32% | 16.68% | 17.93% | 17.34% | 17.63% | 16.87% | 16.34% | 16.89% | 16.29% | 15.83% | 15.86% | 15.31% |
| No. of Shareholders | 52403 | 53049 | 57836 | 52524 | 56445 | 57691 | 60048 | 57268 | 61617 | 61197 | 60382 | 55767 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 9.34 | Sell |
| EMA (10) | 9.31 | Sell |
| SMA (20) | 9.28 | Sell |
| EMA (20) | 9.32 | Sell |
| SMA (50) | 9.43 | Sell |
| EMA (50) | 9.54 | Sell |
| SMA (100) | 10 | Sell |
| EMA (100) | 10.02 | Sell |
| SMA (200) | 11.02 | Sell |
| EMA (200) | 11.02 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 43.53 | Neutral |
| MACD (12,26,9) | -0.04 | Buy |
| Stochastic (14,3,3) | 59.94 | Neutral |
| ADX (14) | 23.67 | Neutral |
| Williams %R (14) | -52.88 | Neutral |
| ATR (14) | 0.73 | High Volatility |
| ROC (12) | -0.11 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 63.53 | Neutral |

## Filings & Documents

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2020 | [Concall - Sep 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d94dd0c8-5577-44e3-9bb5-134bb73a757f.pdf) |
| Sep 2020 | [Concall - Sep 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d94dd0c8-5577-44e3-9bb5-134bb73a757f.pdf) |
| Oct 2021 | [Concall - Oct 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=22d7d0cc-c584-4322-bb22-de2ac9954d1f.pdf) |
| Oct 2021 | [Concall - Oct 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/22d7d0cc-c584-4322-bb22-de2ac9954d1f.pdf) |
| Oct 2018 | [Concall - Oct 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f42c129c-0bb5-4de9-8cfd-07968261f47e.pdf) |
| Oct 2018 | [Concall - Oct 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/10/f42c129c-0bb5-4de9-8cfd-07968261f47e.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=27e7d2c2-692f-4572-8ddd-ebc756f7df28.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/27e7d2c2-692f-4572-8ddd-ebc756f7df28.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5417c7e4-b153-41b8-86c9-eee1b7226f3f.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e7d20af4-bf89-426a-bff6-edf5808b27fd.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/539597/76785539597.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/539597/69833539597.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/539597/5395970320.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/539597/5395970319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/539597/5395970318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/539597/5395970317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/539597/5395970316.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:39:29.416Z.