Jindal Stainless Ltd.

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jindalstainless.comBSE: 532508NSE: JSL

Market Cap₹ 62,260 Cr.

Current Price

High / Low₹ 884 / 652

Stock P/E19.2

Book Value₹ 248

Price to Book2.97

Dividend Yield0.53 %

ROCE19.2 %

ROE17.5 %

Face Value₹ 2

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ABOUT

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

Company has delivered good profit growth of 50.0% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 20.1%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 28.7% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.54x)

CONS

Recurring exceptional / one-off items are inflating headline profit
Growth is decelerating - 3Y profit CAGR (15.2%) trails the 5Y trend (50.0%)
Though reporting repeated profits, the company pays out little dividend (10.3%)

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

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 150 NIFTY TOTAL MKT NIFTY METAL

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	3507.30	1106.63	54550.90	1133.35	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.	USHAMART	494.15	29.70	15058.83	0.76	142.04	40.90	1033.00	16.44	20.17	20.62

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	10,184	9,797	9,127	9,454	9,430	9,777	9,907	10,198	10,207	10,893	10,518	11,337	11,279
	8,992	8,566	7,881	8,419	8,218	8,590	8,700	9,137	8,897	9,505	9,110	9,882	10,398
Operating Profit	1,192	1,231	1,246	1,035	1,212	1,186	1,208	1,061	1,310	1,388	1,408	1,455	881
OPM %	11.71%	12.56%	13.65%	10.95%	12.85%	12.14%	12.19%	10.40%	12.83%	12.74%	13.39%	12.83%	7.81%
	43	133	39	53	51	47	99	87	69	107	72	45	118
Interest	100	156	146	153	143	159	161	150	144	141	134	149	146
Depreciation	188	222	236	233	232	241	242	241	252	262	269	278	302
Profit before Tax	948	986	904	702	887	834	905	757	983	1,092	1,077	1,073	1,034
Tax %	25.63%	23.24%	24.96%	28.68%	27.03%	26.96%	26.06%	18.34%	25.89%	24.77%	23.63%	25.91%	25.63%
Net Profit	0	0	0	0	646	609	654	590	715	808	828	834	769
	9.06	9.40	8.41	6.08	7.87	7.42	7.95	7.18	8.67	9.80	10.06	10.24	9.34

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	9,279	11,638	13,557	12,951	12,188	32,733	35,697	38,562	39,312	42,955	44,026
	8,113	10,297	12,393	11,811	10,764	27,903	32,182	34,052	34,800	37,473	38,895
Operating Profit	1,166	1,340	1,165	1,139	1,424	4,830	3,515	4,511	4,512	5,482	5,131
OPM %	12.56%	11.52%	8.59%	8.80%	11.68%	14.76%	9.85%	11.70%	11.48%	12.76%	11.65%
	52	50	33	44	143	331	197	462	438	372	343
Interest	788	566	637	586	480	344	325	554	612	568	570
Depreciation	325	320	352	425	403	759	724	879	956	1,060	1,111
Profit before Tax	116	520	222	165	690	4,159	2,774	3,592	3,339	4,242	4,276
Tax %	28.11%	33.50%	34.55%	56.06%	39.18%	25.24%	24.88%	25.02%	25.13%	24.93%	24.98%
Net Profit	83	346	145	73	419	3,109	2,084	2,693	2,500	3,185	3,208
EPS	2.29	6.20	2.97	1.48	8.48	37.78	25.68	32.95	30.42	38.76	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.74%	9.10%	9.86%	10.32%	—

COMPOUNDED SALES GROWTH

10 Years:: 20%
5 Years:: 29%
3 Years:: 6%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 50%
3 Years:: 15%

STOCK PRICE CAGR

10 Years:: 42%
5 Years:: 36%
3 Years:: 14%
1 Year:: -1%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 28%
3 Years:: 18%
Last Year:: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	80	96	96	97	97	105	165	165	165	165
Minority Interest	6	9	12	13	13	67	36	17	20	91
	1,708	2,369	2,495	2,620	3,054	6,792	11,766	14,184	16,487	19,551
	6,014	5,415	4,749	4,329	3,531	4,382	4,383	6,018	6,153	7,082
Trade Payables	1,865	2,133	2,488	2,660	2,632	5,743	7,821	6,926	9,140	8,266
	1,260	812	875	958	1,407	5,487	2,944	3,456	3,952	5,287
Total Liabilities	10,932	10,834	10,715	10,678	10,735	22,576	27,115	30,765	35,917	40,441
	6,609	6,342	6,345	6,181	5,855	8,646	9,961	13,244	14,790	18,206
Capital Work in Progress	29	132	24	13	53	518	761	1,085	1,770	1,790
	404	439	454	449	456	626	970	1,246	1,646	1,547
	2,097	2,384	2,415	2,739	2,789	6,785	8,394	7,932	9,700	9,508
	0	0	0	0	0	0	0	2,837	3,107	3,086
Cash & Bank	51	63	45	69	116	256	931	1,988	2,270	2,934
	1,743	1,473	1,433	1,228	1,466	5,745	6,099	2,433	2,633	3,371
Total Assets	10,932	10,834	10,715	10,678	10,735	22,576	27,115	30,765	35,917	40,441

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5,142	1,438	1,421	1,176	1,296	1,895	3,849	4,818	4,718	3,395
Cash from Investing	-31	-193	-192	-188	-152	-985	-2,482	-3,340	-3,439	-3,506
Cash from Financing	-5,106	-1,257	-1,237	-991	-1,119	101	-386	-829	-1,882	-112
	-21	2	-11	2	37	154	228	649	-603	-223

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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
	60.49	60.49	60.71	60.88	61.10	61.23	61.23	62.05	62.05
	22.49	22.78	22.16	21.37	21.25	21.42	21.53	20.87	20.45
	6.25	5.86	6.26	6.91	7.09	7.08	7.23	7.15	7.35
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	10.77	10.86	10.86	10.82	10.56	10.27	10.02	9.93	10.15

Documents

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

2026-09-09

Press Release

2026-09-09 - Jindal Stainless Limited has informed the Exchange regarding a press release dated September 09, 2026, titled "Jindal Stainless Integrates ESG Risk Intelligence into Supplier Management, Strengthening Supply Chain Resilience".

2026-09-07

Press Release

2026-09-07 - Jindal Stainless Limited has informed the Exchange regarding a press release dated September 07, 2026, titled "Jindal Stainless Signs Technical Assistance Agreement with Japan s JFE Steel for Ferritic Stainless Steel Grades".

2026-09-03

Shareholders meeting

2026-09-03 - Jindal Stainless Limited has submitted the Exchange a copy of Scrutinizer's report and voting results of 46th Annual General Meeting held on September 02, 2026.

2026-09-02

Shareholders meeting

2026-09-02 - Jindal Stainless Limited has informed the Exchange regarding Proceedings of 46th Annual General Meeting held on September 02, 2026

2026-09-01

General Updates

2026-09-01 - Jindal Stainless Limited has informed the Exchange about Corporate Presentation

2026-08-31

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-31 - Jindal Stainless Limited has informed the Exchange about Schedule of meet

2026-08-28

Updates

2026-08-28 - Jindal Stainless Limited has informed the Exchange regarding 'Intimation pursuant to Regulation 60 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015-Fixation of Record Date'.

2026-08-25

Credit Rating

2026-08-25 - Jindal Stainless Limited has informed the Exchange about Credit Rating

2026-08-19

Press Release

2026-08-19 - Jindal Stainless Limited has informed the Exchange regarding a press release dated August 19, 2026, titled "Jindal Stainless wins multiple honours at People Matters Infini-T Awards 2026".

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