Jayaswal Neco Industries Ltd.

•

necoindia.comBSE: 522285NSE: JAYNECOIND

Market Cap₹ 8,744 Cr.

Current Price

High / Low₹ 117 / 64

Stock P/E15.5

Book Value₹ 31

Price to Book2.45

Dividend Yield0.00 %

ROCE20.5 %

ROE17.8 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Steel: 92.6% • Iron & Steel Castings: 7.3% • Others: 0.1%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Latest quarter profit grew 108.5% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 4.37x)
Operating margins have improved to 18.6% from 12.7%
Working capital cycle has improved - days down from 68 to 34
Stock looks reasonably valued - P/E of 15.5 is below its historical median
Company generates healthy free cash flow

CONS

Recurring exceptional / one-off items are inflating headline profit
Though reporting repeated profits, the company pays out little dividend (0.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsIron & SteelSteel & Iron Products

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	JSWSTEEL	1267.50	12.51	309961.29	0.56	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	182.85	20.69	228259.99	2.19	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	179.00	17.31	73936.40	1.31	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2676.25	30.57	70596.97	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	755.20	19.16	62260.17	0.53	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2153.00	48.64	59779.85	0.39	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1074.35	26.70	29988.53	0.42	350.73	20.66	5455.09	23.45	13.88	14.03
8.	JINDALSAW	311.85	30.52	19943.06	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2808.15	45.47	19682.88	0.36	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	524.75	16.37	18491.21	0.38	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	244.50	20.41	16460.69	0.41	222.37	2.75	1750.47	32.29	20.20	19.36
12.	JAYNECOIND	90.05	15.50	8743.84	0.00	193.92	108.47	2106.56	27.72	20.48	18.78

Detailed Comparison with:

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
	1,465	1,501	1,556	1,411	1,438	1,230	1,657	1,675	1,649	1,781	1,727	1,974	2,107
	1,256	1,206	1,266	1,179	1,273	1,061	1,393	1,334	1,335	1,454	1,417	1,599	1,853
Operating Profit	208	296	290	233	165	170	264	342	315	327	310	376	253
OPM %	14.21%	19.69%	18.66%	16.47%	11.47%	13.78%	15.92%	20.39%	19.07%	18.36%	17.97%	19.03%	12.02%
	4	2	10	-15	5	2	3	3	5	4	-10	5	12
Interest	105	107	115	142	144	145	140	134	119	112	126	69	66
Depreciation	66	67	67	67	67	71	74	74	75	76	76	75	77
Profit before Tax	40	124	119	8	-41	-45	53	137	125	143	99	236	265
Tax %	31.86%	26.06%	25.19%	74.72%	22.56%	24.15%	-46.34%	25.61%	25.82%	26.33%	25.07%	19.28%	26.81%
Net Profit	28	92	89	2	-32	-34	77	102	93	105	74	191	194
	0.28	0.94	0.91	0.02	-0.33	-0.35	0.79	1.05	0.96	1.08	0.76	1.97	2.00

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
	2,531	3,477	4,227	3,632	3,705	5,959	6,343	5,934	6,000	7,132	7,589
	2,252	3,169	3,705	3,434	3,103	4,686	5,578	4,913	5,059	5,807	6,323
Operating Profit	278	308	522	199	602	1,273	764	1,021	941	1,325	1,266
OPM %	11.00%	8.86%	12.34%	5.47%	16.24%	21.36%	12.05%	17.20%	15.68%	18.57%	16.68%
	32	32	19	-558	15	1,758	-11	7	13	7	10
Interest	550	659	712	868	909	459	453	470	563	427	372
Depreciation	255	273	273	276	267	261	266	266	287	301	303
Profit before Tax	-495	-592	-444	-1,504	-559	2,311	34	291	103	603	743
Tax %	7.24%	17.01%	0.04%	-0.04%	0.12%	2.75%	-565.32%	27.85%	-9.18%	23.26%	24.09%
Net Profit	-459	-491	-444	-1,504	-558	2,247	227	210	113	463	564
EPS	-7.19	-7.69	-6.95	-23.56	-8.74	23.57	2.34	2.16	1.16	4.77	—
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:: 10%
5 Years:: 14%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 27%

STOCK PRICE CAGR

10 Years:: 29%
5 Years:: 33%
3 Years:: 32%
1 Year:: 34%

RETURN ON EQUITY

10 Years:: 89%
5 Years:: 200%
3 Years:: 11%
Last Year:: 18%

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	639	639	639	639	639	971	971	971	971	971
	999	511	61	-1,445	-2,001	862	1,087	1,292	1,405	1,870
	4,178	3,523	3,936	3,934	3,820	3,463	53	3,248	2,741	2,115
Trade Payables	286	280	333	281	179	271	320	289	237	424
	863	1,813	1,746	2,353	3,264	755	3,493	250	327	589
Total Liabilities	6,965	6,765	6,716	5,762	5,901	6,322	5,924	6,050	5,681	5,970
	4,785	4,899	4,641	4,241	3,993	3,744	3,536	3,316	3,384	3,204
Capital Work in Progress	440	477	477	51	46	54	74	199	110	94
	1	1	0	0	0	0	0	0	0	2
	681	543	834	854	899	1,208	1,284	1,495	1,214	1,395
	0	0	0	0	0	0	0	419	401	469
Cash & Bank	58	113	99	116	369	485	283	140	191	267
	999	732	665	500	595	831	747	482	382	538
Total Assets	6,965	6,765	6,716	5,762	5,901	6,322	5,924	6,050	5,681	5,970

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
	275	257	375	314	440	864	790	700	1,388	1,378
Cash from Investing	32	25	-13	-29	-17	-26	-57	-177	-236	-113
Cash from Financing	-292	-225	-372	-284	-150	-943	-792	-486	-1,086	-1,284
	12	59	-12	0	281	-109	-110	17	66	-30

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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.47	54.47	54.47	55.15	55.15	55.15	55.15	55.15	55.15
	0.01	0.01	0.02	0.02	0.04	1.07	1.29	0.90	1.32
	0.00	0.00	0.00	0.00	0.00	0.51	0.21	0.30	0.77
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	45.52	45.51	45.52	44.83	44.81	43.27	43.35	43.65	42.76

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-12

Shareholders meeting

2026-09-12 - Jayaswal Neco Industries Limited has submitted the Exchange a copy Srutinizers report of undefined held on September 12, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-12

Shareholders meeting

2026-09-12 - Jayaswal Neco Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 12, 2026

2026-09-07

Spurt in Volume

2026-09-07 - Significant increase in volume has been observed in Jayaswal Neco Industries Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Jayaswal Neco Industries Limited has submitted their response.

2026-09-05

General Updates

2026-09-05 - Jayaswal Neco Industries Limited has informed the Exchange about General Updates: Reply to NSE letter dated 4 September 2026 on Spurt in volume.

2026-09-05

General Updates

2026-09-05 - Jayaswal Neco Industries Limited has informed the Exchange about General Updates

2026-09-04

Spurt in Volume

2026-09-04 - Significant increase in volume has been observed in Jayaswal Neco Industries Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.

2026-09-04

Press Release

2026-09-04 - Jayaswal Neco Industries Limited has informed the Exchange regarding a press release dated September 04, 2026, titled "Press Release on "Clarification regarding Media Reports concerning DATASEL S.R.L., Italy.".

2026-08-21

Copy of Newspaper Publication

2026-08-21 - Jayaswal Neco Industries Limited has informed the Exchange about Copy of Newspaper Publication - Notice of Annual General Meeting

2026-08-20

Updates

2026-08-20 - Jayaswal Neco Industries Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report'.

News

Recent coverage and analyst commentary for JAYNECOIND

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Jayaswal Neco Industries Ltd.

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Name

JSWSTEEL

1267.50

12.51

309961.29

0.56

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

182.85

20.69

228259.99

2.19

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

179.00

17.31

73936.40

1.31

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2676.25

30.57

70596.97

0.19

1047.88

200.11

4081.12

14.91

23.94

32.17

JSL

755.20

19.16

62260.17

0.53

768.66

7.56

11278.54

10.50

19.19

12.09

APLAPOLLO

2153.00

48.64

59779.85

0.39

263.11

10.94

5606.71

12.07

31.83

7.34

SHYAMMETL

1074.35

26.70

29988.53

0.42

350.73

20.66

5455.09

23.45

13.88

14.03

JINDALSAW

311.85

30.52

19943.06

0.64

90.79

-78.15

4452.31

9.00

10.38

8.79

RATNAMANI

2808.15

45.47

19682.88

0.36

107.03

-15.82

971.63

-15.63

18.01

16.69

SARDAEN

524.75

16.37

18491.21

0.38

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

244.50

20.41

16460.69

0.41

222.37

2.75

1750.47

32.29

20.20

19.36

JAYNECOIND

90.05

15.50

8743.84

0.00

193.92

108.47

2106.56

27.72

20.48

18.78

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

1,465

1,501

1,556

1,411

1,438

1,230

1,657

1,675

1,649

1,781

1,727

1,974

2,107

1,256

1,206

1,266

1,179

1,273

1,061

1,393

1,334

1,335

1,454

1,417

1,599

1,853

Operating Profit

208

296

290

233

165

170

264

342

315

327

310

376

253

OPM %

14.21%

19.69%

18.66%

16.47%

11.47%

13.78%

15.92%

20.39%

19.07%

18.36%

17.97%

19.03%

12.02%

-15

-10

Interest

105

107

115

142

144

145

140

134

119

112

126

Depreciation

Profit before Tax

124

119

-41

-45

137

125

143

236

265

Tax %

31.86%

26.06%

25.19%

74.72%

22.56%

24.15%

-46.34%

25.61%

25.82%

26.33%

25.07%

19.28%

26.81%

Net Profit

-32

-34

102

105

191

194

0.28

0.94

0.91

0.02

-0.33

-0.35

0.79

1.05

0.96

1.08

0.76

1.97

2.00

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

2,531

3,477

4,227

3,632

3,705

5,959

6,343

5,934

6,000

7,132

7,589

2,252

3,169

3,705

3,434

3,103

4,686

5,578

4,913

5,059

5,807

6,323

Operating Profit

278

308

522

199

602

1,273

764

1,021

941

1,325

1,266

OPM %

11.00%

8.86%

12.34%

5.47%

16.24%

21.36%

12.05%

17.20%

15.68%

18.57%

16.68%

-558

1,758

-11

Interest

550

659

712

868

909

459

453

470

563

427

372

Depreciation

255

273

276

267

261

266

287

301

303

Profit before Tax

-495

-592

-444

-1,504

-559

2,311

291

103

603

743

Tax %

7.24%

17.01%

0.04%

-0.04%

0.12%

2.75%

-565.32%

27.85%

-9.18%

23.26%

24.09%

Net Profit

-459

-491

-444

-1,504

-558

2,247

227

210

113

463

564

EPS

-7.19

-7.69

-6.95

-23.56

-8.74

23.57

2.34

2.16

1.16

4.77

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

639

971

999

511

-1,445

-2,001

862

1,087

1,292

1,405

1,870

4,178

3,523

3,936

3,934

3,820

3,463

3,248

2,741

2,115

Trade Payables

286

280

333

281

179

271

320

289

237

424

863

1,813

1,746

2,353

3,264

755

3,493

250

327

589

Total Liabilities

6,965

6,765

6,716

5,762

5,901

6,322

5,924

6,050

5,681

5,970

4,785

4,899

4,641

4,241

3,993

3,744

3,536

3,316

3,384

3,204

Capital Work in Progress

440

477

199

110

681

543

834

854

899

1,208

1,284

1,495

1,214

1,395

419

401

469

Cash & Bank

113

116

369

485

283

140

191

267

999

732

665

500

595

831

747

482

382

538

Total Assets

6,965

6,765

6,716

5,762

5,901

6,322

5,924

6,050

5,681

5,970

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

275

257

375

314

440

864

790

700

1,388

1,378

Cash from Investing

-13

-29

-17

-26

-57

-177

-236

-113

Cash from Financing

-292

-225

-372

-284

-150

-943

-792

-486

-1,086

-1,284

-12

281

-109

-110

-30

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

54.47

55.15

0.01

0.02

0.04

1.07

1.29

0.90

1.32

0.00

0.51

0.21

0.30

0.77

Government

0.00

45.52

45.51

45.52

44.83

44.81

43.27

43.35

43.65

42.76

Jayaswal Neco Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Jayaswal Neco Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI