Jindal Steel Ltd.

•

jindalsteel.in/BSE: 532286NSE: JINDALSTEL

Market Cap₹ 1,17,055 Cr.

Current Price

High / Low₹ 1,306 / 977

Stock P/E46.2

Book Value₹ 531

Price to Book2.13

Dividend Yield0.17 %

ROCE8.7 %

ROE6.0 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2016 • Iron & Steel: 78.6% • Power: 18.5% • Others: 2.9%

AI Sector View

AI GENERATED

Metals & Mining

Hold

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.

Confidence

61%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.08x)
Company has a consistent dividend-paying track record
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Recent results are weak - TTM profit is down 16.9% versus prior year
Company has a low return on equity of 8.6% over last 3 years
Company has a low return on capital employed of 11.7%
Company has delivered a poor profit growth of -15.5% over past five years
Valuation is stretched - P/E of 46.2 is well above its own 5-year median (25.5)
Recurring exceptional / one-off items are inflating headline profit

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

Peer comparison

Metals & MiningIron & SteelSteel/Sponge Iron/Pig Iron

Part ofNIFTY NEXT 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT NIFTY TOTAL MKT NIFTY METAL

S.No.	Name
1.	JINDALSTEL	1147.50	43.06	117055.11	0.17	843.80	-43.60	15482.13	25.93	8.92	17.18
2.	LLOYDSME	1807.60	21.35	101751.06	0.06	1733.89	170.25	7354.40	209.39	27.59	38.26
3.	JAIBALAJI	68.67	21.39	6264.43	0.00	26.48	-82.71	1353.35	-13.06	9.63	5.31
4.	RSL	189.50	31.79	1583.61	0.26	20.20	144.24	306.54	23.65	31.72	9.37
5.	STEELXIND	12.03	395.28	1534.45	0.00	150.26	—	2697.14	—	11.97	12.70
6.	SALSTEEL	80.19	93.39	1160.88	0.00	30.90	419.21	873.70	584.99	4.89	15.51
7.	VRAJ	124.80	11.46	411.62	0.00	11.51	51.65	193.83	40.14	10.52	11.17
8.	VASWANI	45.16	0.00	148.78	0.00	2.52	—	91.74	—	9.77	5.72

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
	12,311	12,082	11,516	13,773	12,843	11,504	11,436	13,035	12,420	12,109	13,559	15,935	15,275
	9,657	9,770	8,797	11,254	10,144	9,564	9,275	10,897	9,564	10,149	11,909	13,932	13,818
Operating Profit	2,653	2,312	2,719	2,519	2,699	1,940	2,161	2,139	2,856	1,959	1,650	2,003	1,457
OPM %	21.55%	19.14%	23.61%	18.29%	21.02%	16.86%	18.90%	16.41%	23.00%	16.18%	12.17%	12.57%	9.54%
	14	26	30	15	23	25	16	-1,263	16	10	-47	-1,153	16
Interest	258	258	195	210	183	167	133	137	97	133	102	441	147
Depreciation	540	555	559	563	564	573	571	564	578	593	605	606	620
Profit before Tax	1,870	1,526	1,994	1,762	1,975	1,224	1,473	175	2,197	1,244	896	-197	1,474
Tax %	25.14%	27.33%	25.58%	27.26%	26.24%	26.96%	21.07%	38.46%	26.07%	25.99%	24.97%	27.16%	26.30%
Net Profit	1,400	1,109	1,484	1,282	1,457	894	1,163	108	1,624	921	673	-143	1,086
	13.93	11.03	14.78	12.78	14.46	8.83	11.49	1.06	16.01	9.06	6.61	-1.41	10.67

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
	13,848	17,065	27,716	26,228	33,308	49,431	51,180	49,682	48,818	54,023	56,878
	10,972	13,092	21,763	20,529	20,256	34,854	42,537	47,419	40,125	46,076	49,809
Operating Profit	2,877	3,973	5,953	5,700	13,052	14,578	8,643	2,262	8,693	7,947	7,070
OPM %	20.77%	23.28%	21.48%	21.73%	39.19%	29.49%	16.89%	4.55%	17.81%	14.71%	12.43%
	202	-132	-1,191	211	701	588	-2,070	8,536	-391	-438	-1,173
Interest	2,492	2,603	3,025	2,744	2,390	1,766	1,535	1,431	1,183	986	822
Depreciation	2,044	1,910	2,307	2,287	2,243	2,232	2,166	2,216	2,272	2,383	2,424
Profit before Tax	-1,457	-672	-570	880	9,119	11,168	2,872	7,151	4,847	4,140	3,417
Tax %	32.29%	46.17%	53.86%	29.78%	21.55%	25.83%	15.50%	26.25%	25.29%	25.76%	25.79%
Net Profit	-986	-362	-263	618	7,154	8,283	2,427	5,273	3,621	3,074	2,536
EPS	-10.78	-3.95	-2.72	6.09	70.14	81.21	24.11	52.61	35.79	30.21	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	3.66%	8.28%	3.80%	5.59%	6.62%	—

COMPOUNDED SALES GROWTH

10 Years:: 16%
5 Years:: 10%
3 Years:: 2%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: -16%
3 Years:: 8%

STOCK PRICE CAGR

10 Years:: 30%
5 Years:: 23%
3 Years:: 17%
1 Year:: 9%

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 11%
3 Years:: 9%
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	92	97	97	102	102	101	100	100	101	102
	21,675	22,691	22,414	23,607	32,540	40,259	40,456	45,393	49,662	53,022
	28,706	26,728	22,575	20,641	22,170	17,127	12,830	9,447	6,146	6,651
Trade Payables	2,365	3,380	3,784	4,624	3,809	5,290	4,460	4,270	5,079	7,491
	10,225	10,148	11,771	12,828	10,816	15,010	14,479	18,452	19,775	21,486
Total Liabilities	63,062	63,045	60,640	61,801	69,437	77,788	72,326	77,662	80,762	88,751
	41,476	45,637	44,363	44,472	42,722	41,358	40,083	39,473	39,837	42,579
Capital Work in Progress	7,505	2,654	1,584	810	572	731	2,091	3,780	5,010	3,419
	1,485	1,490	1,693	1,699	5,558	6,316	5,693	7,531	9,869	14,412
	1,887	3,099	3,893	3,887	4,592	7,051	5,463	5,977	4,751	5,901
	0	0	0	0	0	0	0	2,191	1,324	1,399
Cash & Bank	146	126	101	516	5,687	3,056	4,023	3,489	3,565	3,210
	10,563	10,039	9,006	10,417	10,306	19,276	14,973	15,220	16,406	17,832
Total Assets	63,062	63,045	60,640	61,801	69,437	77,788	72,326	77,662	80,762	88,751

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
	4,073	4,870	6,912	6,979	9,749	16,076	9,066	6,909	11,211	6,810
Cash from Investing	-1,111	-870	-1,347	-1,366	-3,507	-9,407	-3,843	-5,081	-7,315	-7,749
Cash from Financing	-3,138	-4,027	-5,676	-5,380	-1,082	-7,428	-1,850	-2,544	-4,734	36
	-185	-37	-35	314	5,171	-2,649	723	-716	-837	-904

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
	61.19	61.19	61.19	62.22	62.36	62.37	62.69	62.69	62.69
	12.64	12.19	10.99	9.59	9.76	9.43	9.02	9.19	8.84
	15.34	16.05	17.26	17.67	18.09	18.74	19.10	19.14	19.52
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	10.84	10.57	10.57	10.52	9.79	9.46	9.20	8.97	8.94

Documents

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

2026-08-28

Shareholders meeting

2026-08-28 - JINDAL STEEL LIMITED has informed the Exchange regarding Proceedings of Annual General Meeting held on August 28, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.

2026-08-26

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-26 - JINDAL STEEL LIMITED has informed the Exchange about Schedule of meet

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - JINDAL STEEL LIMITED has informed the Exchange about Schedule of meet

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - JINDAL STEEL LIMITED has informed the Exchange about Schedule of meet

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - JINDAL STEEL LIMITED has informed the Exchange about Schedule of meet

2026-08-07

Copy of Newspaper Publication

2026-08-07 - JINDAL STEEL LIMITED has informed the Exchange about Copy of Newspaper Publication

2026-08-06

General Updates

2026-08-06 - JINDAL STEEL LIMITED has informed the Exchange about Business Responsibility and Sustainability Report for the financial year 2025-26

2026-08-06

General Updates

2026-08-06 - JINDAL STEEL LIMITED has informed the Exchange about Tax Transparency Report for the Financial Year 2025-26

2026-08-06

Record Date

2026-08-06 - JINDAL STEEL LIMITED has informed the Exchange that Record date for the purpose of Dividend is 21-Aug-2026.

News

Recent coverage and analyst commentary for JINDALSTEL

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Jindal Steel Ltd.

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Name

JINDALSTEL

1147.50

43.06

117055.11

0.17

843.80

-43.60

15482.13

25.93

8.92

17.18

LLOYDSME

1807.60

21.35

101751.06

0.06

1733.89

170.25

7354.40

209.39

27.59

38.26

JAIBALAJI

68.67

21.39

6264.43

0.00

26.48

-82.71

1353.35

-13.06

9.63

5.31

RSL

189.50

31.79

1583.61

0.26

20.20

144.24

306.54

23.65

31.72

9.37

STEELXIND

12.03

395.28

1534.45

0.00

150.26

—

2697.14

—

11.97

12.70

SALSTEEL

80.19

93.39

1160.88

0.00

30.90

419.21

873.70

584.99

4.89

15.51

VRAJ

124.80

11.46

411.62

0.00

11.51

51.65

193.83

40.14

10.52

11.17

VASWANI

45.16

0.00

148.78

0.00

2.52

—

91.74

—

9.77

5.72

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

12,311

12,082

11,516

13,773

12,843

11,504

11,436

13,035

12,420

12,109

13,559

15,935

15,275

9,657

9,770

8,797

11,254

10,144

9,564

9,275

10,897

9,564

10,149

11,909

13,932

13,818

Operating Profit

2,653

2,312

2,719

2,519

2,699

1,940

2,161

2,139

2,856

1,959

1,650

2,003

1,457

OPM %

21.55%

19.14%

23.61%

18.29%

21.02%

16.86%

18.90%

16.41%

23.00%

16.18%

12.17%

12.57%

9.54%

-1,263

-47

-1,153

Interest

258

195

210

183

167

133

137

133

102

441

147

Depreciation

540

555

559

563

564

573

571

564

578

593

605

606

620

Profit before Tax

1,870

1,526

1,994

1,762

1,975

1,224

1,473

175

2,197

1,244

896

-197

1,474

Tax %

25.14%

27.33%

25.58%

27.26%

26.24%

26.96%

21.07%

38.46%

26.07%

25.99%

24.97%

27.16%

26.30%

Net Profit

1,400

1,109

1,484

1,282

1,457

894

1,163

108

1,624

921

673

-143

1,086

13.93

11.03

14.78

12.78

14.46

8.83

11.49

1.06

16.01

9.06

6.61

-1.41

10.67

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

13,848

17,065

27,716

26,228

33,308

49,431

51,180

49,682

48,818

54,023

56,878

10,972

13,092

21,763

20,529

20,256

34,854

42,537

47,419

40,125

46,076

49,809

Operating Profit

2,877

3,973

5,953

5,700

13,052

14,578

8,643

2,262

8,693

7,947

7,070

OPM %

20.77%

23.28%

21.48%

21.73%

39.19%

29.49%

16.89%

4.55%

17.81%

14.71%

12.43%

202

-132

-1,191

211

701

588

-2,070

8,536

-391

-438

-1,173

Interest

2,492

2,603

3,025

2,744

2,390

1,766

1,535

1,431

1,183

986

822

Depreciation

2,044

1,910

2,307

2,287

2,243

2,232

2,166

2,216

2,272

2,383

2,424

Profit before Tax

-1,457

-672

-570

880

9,119

11,168

2,872

7,151

4,847

4,140

3,417

Tax %

32.29%

46.17%

53.86%

29.78%

21.55%

25.83%

15.50%

26.25%

25.29%

25.76%

25.79%

Net Profit

-986

-362

-263

618

7,154

8,283

2,427

5,273

3,621

3,074

2,536

EPS

-10.78

-3.95

-2.72

6.09

70.14

81.21

24.11

52.61

35.79

30.21

—

Dividend Payout %

0.00%

3.66%

8.28%

3.80%

5.59%

6.62%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

102

101

100

101

102

21,675

22,691

22,414

23,607

32,540

40,259

40,456

45,393

49,662

53,022

28,706

26,728

22,575

20,641

22,170

17,127

12,830

9,447

6,146

6,651

Trade Payables

2,365

3,380

3,784

4,624

3,809

5,290

4,460

4,270

5,079

7,491

10,225

10,148

11,771

12,828

10,816

15,010

14,479

18,452

19,775

21,486

Total Liabilities

63,062

63,045

60,640

61,801

69,437

77,788

72,326

77,662

80,762

88,751

41,476

45,637

44,363

44,472

42,722

41,358

40,083

39,473

39,837

42,579

Capital Work in Progress

7,505

2,654

1,584

810

572

731

2,091

3,780

5,010

3,419

1,485

1,490

1,693

1,699

5,558

6,316

5,693

7,531

9,869

14,412

1,887

3,099

3,893

3,887

4,592

7,051

5,463

5,977

4,751

5,901

2,191

1,324

1,399

Cash & Bank

146

126

101

516

5,687

3,056

4,023

3,489

3,565

3,210

10,563

10,039

9,006

10,417

10,306

19,276

14,973

15,220

16,406

17,832

Total Assets

63,062

63,045

60,640

61,801

69,437

77,788

72,326

77,662

80,762

88,751

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

4,073

4,870

6,912

6,979

9,749

16,076

9,066

6,909

11,211

6,810

Cash from Investing

-1,111

-870

-1,347

-1,366

-3,507

-9,407

-3,843

-5,081

-7,315

-7,749

Cash from Financing

-3,138

-4,027

-5,676

-5,380

-1,082

-7,428

-1,850

-2,544

-4,734

-185

-37

-35

314

5,171

-2,649

723

-716

-837

-904

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

61.19

62.22

62.36

62.37

62.69

12.64

12.19

10.99

9.59

9.76

9.43

9.02

9.19

8.84

15.34

16.05

17.26

17.67

18.09

18.74

19.10

19.14

19.52

Government

0.00

10.84

10.57

10.52

9.79

9.46

9.20

8.97

8.94

Jindal Steel 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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Jindal Steel 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