Jai Balaji Industries Ltd.
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ABOUT
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 41.7%
- Company has a healthy return on capital (ROCE) of 35.6%
- Company has delivered good sales growth of 15.7% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.96x)
- Company generates healthy free cash flow
- Company maintains a comfortable, low leverage position
CONS
- Recent results are weak - TTM profit is down 57.1% versus prior year
- A large part of profit comes from other income (41.7% of PBT)
- Equity base is being diluted - shares outstanding up 25.4%
- Valuation is stretched - P/E of 41.1 is well above its own 5-year median (22.6)
- Though reporting repeated profits, the company pays out little dividend (0.0%)
- Inventory has been piling up - inventory days up from 63 to 84
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JINDALSTEL | 1118.30 | 41.97 | 114076.45 | 0.18 | 843.80 | -43.60 | 15482.13 | 25.93 | 8.92 | 17.18 |
| LLOYDSME | 1798.45 | 21.24 | 101236.00 | 0.06 | 1733.89 | 170.25 | 7354.40 | 209.39 | 27.59 | 38.26 |
| JAIBALAJI | 65.17 | 20.30 | 5945.14 | 0.00 | 26.48 | -82.71 | 1353.35 | -13.06 | 9.63 | 5.31 |
| RSL | 189.90 | 31.86 | 1586.95 | 0.26 | 20.20 | 144.24 | 306.54 | 23.65 | 31.72 | 9.37 |
| STEELXIND | 12.13 | 398.57 | 1547.20 | 0.00 | 150.26 | — | 2697.14 | — | 11.97 | 12.70 |
| SALSTEEL | 74.64 | 86.93 | 1080.54 | 0.00 | 30.90 | 419.21 | 873.70 | 584.99 | 4.89 | 15.51 |
| VRAJ | 125.90 | 11.56 | 415.25 | 0.00 | 11.51 | 51.65 | 193.83 | 40.14 | 10.52 | 11.17 |
| VASWANI | 45.00 | 0.00 | 148.26 | 0.00 | 2.52 | — | 91.74 | — | 9.77 | 5.72 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,483 | 1,547 | 1,539 | 1,846 | 1,718 | 1,557 | 1,486 | 1,590 | 1,357 | 1,353 | 1,329 | 1,745 | 1,683 | |
| 1,277 | 1,333 | 1,292 | 1,605 | 1,403 | 1,328 | 1,296 | 1,457 | 1,230 | 1,281 | 1,274 | 1,653 | 1,577 | |
| Operating Profit | 205 | 213 | 247 | 241 | 316 | 228 | 190 | 133 | 127 | 72 | 54 | 92 | 106 |
| OPM % | 13.84% | 13.80% | 16.04% | 13.05% | 18.38% | 14.66% | 12.78% | 8.36% | 9.36% | 5.31% | 4.09% | 5.28% | 6.29% |
| 8 | 28 | 23 | 156 | 10 | 22 | 18 | 19 | 16 | 13 | 8 | -0 | 3 | |
| Interest | 21 | 19 | 15 | 18 | 16 | 15 | 15 | 17 | 18 | 15 | 16 | 18 | 14 |
| Depreciation | 21 | 21 | 21 | 23 | 22 | 22 | 23 | 26 | 31 | 31 | 32 | 32 | 32 |
| Profit before Tax | 170 | 202 | 235 | 357 | 287 | 213 | 170 | 108 | 95 | 40 | 15 | 42 | 109 |
| Tax % | 0.00% | 0.00% | 0.00% | 23.46% | 27.31% | 28.01% | 29.01% | 30.33% | 25.49% | 33.45% | 21.27% | 49.65% | 22.01% |
| Net Profit | 170 | 202 | 235 | 273 | 209 | 153 | 120 | 75 | 71 | 26 | 12 | 21 | 85 |
| 11.34 | 12.79 | 2.94 | 3.39 | 12.10 | 1.68 | 1.32 | 0.83 | 0.77 | 0.29 | 0.13 | 0.23 | 0.93 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,564 | 2,389 | 3,077 | 2,912 | 2,785 | 4,693 | 6,125 | 6,414 | 6,351 | 5,784 | 6,110 | |
| 1,664 | 2,483 | 3,058 | 2,882 | 2,690 | 4,484 | 5,869 | 5,783 | 5,489 | 5,478 | 5,785 | |
| Operating Profit | -100 | -94 | 20 | 31 | 95 | 208 | 256 | 630 | 861 | 306 | 324 |
| OPM % | -6.40% | -3.92% | 0.64% | 1.06% | 3.42% | 4.44% | 4.18% | 9.83% | 13.56% | 5.29% | 5.31% |
| 21 | -22 | 40 | 54 | 11 | 30 | 35 | 491 | 73 | 77 | 24 | |
| Interest | 45 | 34 | 112 | 103 | 88 | 99 | 89 | 73 | 63 | 66 | 62 |
| Depreciation | 112 | 107 | 102 | 97 | 94 | 91 | 98 | 86 | 94 | 125 | 126 |
| Profit before Tax | -236 | -257 | -154 | -114 | -76 | 48 | 105 | 963 | 778 | 192 | 206 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 44.89% | 8.68% | 28.29% | 32.17% | 29.85% |
| Net Profit | -236 | -257 | -154 | -114 | -76 | 48 | 58 | 880 | 558 | 130 | 145 |
| EPS | -28.23 | -27.48 | -15.94 | -11.07 | -6.86 | 4.35 | 4.11 | 53.75 | 6.12 | 1.42 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 17%
- 5 Years:
- 16%
- 3 Years:
- -2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 31%
STOCK PRICE CAGR
- 10 Years:
- 40%
- 5 Years:
- 42%
- 3 Years:
- 0%
- 1 Year:
- -35%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 25%
- 3 Years:
- 42%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 86 | 96 | 96 | 110 | 110 | 110 | 145 | 164 | 182 | 182 |
| -1,270 | -1,523 | -1,676 | -1,768 | -1,843 | -1,773 | 366 | 1,319 | 1,942 | 2,075 | |
| 2,847 | 3,520 | 3,641 | 3,469 | 3,438 | 3,169 | 889 | 505 | 592 | 448 | |
| Trade Payables | 564 | 641 | 670 | 690 | 750 | 819 | 899 | 870 | 714 | 822 |
| 890 | 213 | 182 | 187 | 260 | 353 | 369 | 289 | 460 | 549 | |
| Total Liabilities | 3,116 | 2,947 | 2,913 | 2,688 | 2,715 | 2,678 | 2,669 | 3,147 | 3,891 | 4,077 |
| 1,486 | 1,409 | 1,324 | 1,238 | 1,181 | 1,165 | 1,132 | 1,382 | 1,614 | 1,573 | |
| Capital Work in Progress | 82 | 119 | 79 | 98 | 102 | 52 | 69 | 116 | 127 | 294 |
| 79 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |
| 420 | 488 | 496 | 579 | 699 | 758 | 821 | 950 | 1,248 | 1,419 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 242 | 430 | 330 | |
| Cash & Bank | 10 | 8 | 7 | 23 | 26 | 22 | 51 | 91 | 126 | 60 |
| 1,040 | 921 | 1,005 | 750 | 706 | 680 | 595 | 366 | 344 | 400 | |
| Total Assets | 3,116 | 2,947 | 2,913 | 2,688 | 2,715 | 2,678 | 2,669 | 3,147 | 3,891 | 4,077 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -103 | 65 | 41 | 293 | 144 | 465 | 326 | 839 | 311 | 358 | |
| Cash from Investing | 25 | -12 | 7 | -37 | -40 | -124 | -119 | -398 | -352 | -242 |
| Cash from Financing | 76 | -48 | -48 | -250 | -89 | -351 | -192 | -416 | 88 | -209 |
| -2 | 5 | -0 | 4 | 15 | -12 | 10 | 24 | 47 | -93 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Jai Balaji Industries Limited has informed the Exchange about Schedule of meet
2026-09-01 - Jai Balaji Industries Limited has informed the Exchange about Copy of Newspaper Publication regarding completion of dispatch of Notice convening 27th Annual General Meeting
2026-08-31 - Jai Balaji Industries Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report for the Financial Year 2025-26'.
2026-08-31 - Jai Balaji Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026
2026-08-27 - Jai Balaji Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-26 - Jai Balaji Industries Limited has informed the Exchange regarding 'the 27th Annual General Meeting of the Company which will be held on 24th September, 2026'.
2026-08-17 - Jai Balaji Industries Limited has informed the Exchange about Transcript
2026-08-17 - Jai Balaji Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Jai Balaji Industries Limited has informed the Exchange about Link of Recording
News
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