Jindal Stainless Ltd.

•

jindalstainless.comBSE: 532508NSE: JSL

Market Cap₹ 62,850 Cr.

Current Price

High / Low₹ 884 / 652

Stock P/E22.4

Book Value₹ 235

Price to Book3.11

Dividend Yield0.52 %

ROCE18.7 %

ROE16.3 %

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 46.0% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 20.8%
Company has delivered good sales growth of 29.6% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.40x)
Company comfortably covers its interest (10.8x coverage)
Company generates healthy free cash flow

CONS

Recurring exceptional / one-off items are inflating headline profit
Growth is decelerating - 3Y profit CAGR (12.2%) trails the 5Y trend (46.0%)
Though reporting repeated profits, the company pays out little dividend (11.6%)

* 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	1308.00	12.91	319865.38	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	185.95	21.04	232129.86	2.15	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	184.00	17.79	76001.67	1.28	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2775.65	31.71	73219.05	0.18	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	762.35	19.35	62849.63	0.52	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2198.00	49.66	61029.32	0.39	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1086.30	27.00	30322.09	0.41	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	JINDALSAW	317.60	31.08	20310.78	0.63	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2808.00	45.47	19681.83	0.36	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	537.05	16.75	18924.64	0.37	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	252.40	21.07	16992.55	0.40	222.37	2.75	1750.47	32.29	20.20	19.36
12.	USHAMART	495.50	29.78	15099.97	0.76	142.04	40.90	1033.00	16.44	20.17	20.62

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
	10,027	9,720	9,088	9,521	9,585	9,746	10,066	10,786	10,341	10,881	10,632	10,826	10,677
	8,910	8,651	8,067	8,693	8,580	8,739	9,062	9,895	9,293	9,821	9,529	9,715	9,985
Operating Profit	1,118	1,070	1,021	827	1,004	1,007	1,003	890	1,048	1,060	1,103	1,111	691
OPM %	11.15%	11.01%	11.23%	8.69%	10.48%	10.33%	9.97%	8.26%	10.13%	9.74%	10.38%	10.26%	6.48%
	44	34	230	92	60	82	137	511	103	99	80	307	124
Interest	93	104	93	103	97	116	120	109	100	96	92	94	104
Depreciation	174	178	182	181	179	180	189	186	189	196	200	208	233
Profit before Tax	895	822	975	636	788	793	832	1,107	863	867	891	1,115	815
Tax %	25.65%	25.86%	20.07%	25.04%	26.63%	25.67%	25.60%	16.41%	25.63%	25.73%	25.31%	20.07%	25.68%
Net Profit	666	609	779	476	578	589	619	925	642	644	666	892	606
	8.08	7.40	9.46	5.79	7.02	7.16	7.51	11.23	7.79	7.82	8.08	10.82	7.35

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
	8,311	10,785	12,585	12,320	11,679	32,292	35,030	38,356	40,182	42,680	43,016
	7,205	9,504	11,449	11,145	10,283	27,837	31,532	34,511	36,444	38,445	39,050
Operating Profit	1,107	1,281	1,136	1,175	1,396	4,455	3,498	3,845	3,738	4,236	3,966
OPM %	13.32%	11.88%	9.03%	9.54%	11.95%	13.80%	9.99%	10.03%	9.30%	9.92%	9.22%
	52	47	34	45	142	328	175	591	958	675	609
Interest	762	541	614	567	464	312	295	393	442	382	387
Depreciation	308	304	335	409	373	704	675	715	735	793	836
Profit before Tax	89	483	221	244	700	3,767	2,704	3,328	3,519	3,737	3,689
Tax %	34.24%	34.14%	36.99%	37.44%	38.91%	25.94%	25.50%	23.95%	22.96%	23.92%	23.90%
Net Profit	58	318	139	153	428	2,790	2,014	2,531	2,711	2,843	2,807
EPS	1.63	5.80	2.90	3.16	8.65	34.24	24.46	30.73	32.92	34.50	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.22%	9.76%	9.11%	11.59%	—

COMPOUNDED SALES GROWTH

10 Years:: 21%
5 Years:: 30%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 46%
3 Years:: 12%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 27%
3 Years:: 18%
Last Year:: 16%

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	80	96	96	97	97	105	165	165	165	165
	1,635	2,256	2,379	2,560	3,002	6,415	11,292	13,526	15,996	18,626
	5,754	5,129	4,480	4,081	3,289	3,865	3,999	3,906	4,332	4,291
Trade Payables	1,644	1,940	2,320	2,433	2,475	5,566	7,747	6,926	9,145	8,036
	1,172	744	746	937	1,401	5,383	2,912	2,995	3,372	3,849
Total Liabilities	10,285	10,164	10,021	10,108	10,265	21,334	26,115	27,518	33,010	34,967
	6,392	6,143	6,143	5,969	5,679	8,160	9,455	9,542	9,488	10,904
Capital Work in Progress	30	130	20	9	49	495	509	930	1,609	1,396
	481	485	487	489	491	937	1,172	2,804	3,430	5,324
	1,755	2,012	2,044	2,330	2,467	5,888	7,719	7,440	8,513	7,906
	0	0	0	0	0	0	0	2,997	3,866	3,276
Cash & Bank	41	37	14	44	89	220	898	1,378	1,857	2,377
	1,586	1,357	1,313	1,265	1,489	5,634	6,363	2,426	4,247	3,785
Total Assets	10,285	10,164	10,021	10,108	10,265	21,334	26,115	27,518	33,010	34,967

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
	5,196	1,390	1,356	1,124	1,284	1,910	3,523	3,683	4,229	3,442
Cash from Investing	-5	-184	-172	-162	-154	-923	-2,367	-2,831	-4,505	-3,226
Cash from Financing	-5,198	-1,258	-1,196	-951	-1,107	-38	-225	-363	-152	-511
	-22	-15	-15	10	34	151	242	490	-428	-295

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
	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".

News

Recent coverage and analyst commentary for JSL

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Name

JSWSTEEL

1308.00

12.91

319865.38

0.54

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

185.95

21.04

232129.86

2.15

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

184.00

17.79

76001.67

1.28

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2775.65

31.71

73219.05

0.18

1047.88

200.11

4081.12

14.91

23.94

32.17

JSL

762.35

19.35

62849.63

0.52

768.66

7.56

11278.54

10.50

19.19

12.09

APLAPOLLO

2198.00

49.66

61029.32

0.39

263.11

10.94

5606.71

12.07

31.83

7.34

SHYAMMETL

1086.30

27.00

30322.09

0.41

3507.30

1106.63

54550.90

1133.35

13.88

14.03

JINDALSAW

317.60

31.08

20310.78

0.63

90.79

-78.15

4452.31

9.00

10.38

8.79

RATNAMANI

2808.00

45.47

19681.83

0.36

107.03

-15.82

971.63

-15.63

18.01

16.69

SARDAEN

537.05

16.75

18924.64

0.37

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

252.40

21.07

16992.55

0.40

222.37

2.75

1750.47

32.29

20.20

19.36

USHAMART

495.50

29.78

15099.97

0.76

142.04

40.90

1033.00

16.44

20.17

20.62

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

10,027

9,720

9,088

9,521

9,585

9,746

10,066

10,786

10,341

10,881

10,632

10,826

10,677

8,910

8,651

8,067

8,693

8,580

8,739

9,062

9,895

9,293

9,821

9,529

9,715

9,985

Operating Profit

1,118

1,070

1,021

827

1,004

1,007

1,003

890

1,048

1,060

1,103

1,111

691

OPM %

11.15%

11.01%

11.23%

8.69%

10.48%

10.33%

9.97%

8.26%

10.13%

9.74%

10.38%

10.26%

6.48%

230

137

511

103

307

124

Interest

104

103

116

120

109

100

104

Depreciation

174

178

182

181

179

180

189

186

189

196

200

208

233

Profit before Tax

895

822

975

636

788

793

832

1,107

863

867

891

1,115

815

Tax %

25.65%

25.86%

20.07%

25.04%

26.63%

25.67%

25.60%

16.41%

25.63%

25.73%

25.31%

20.07%

25.68%

Net Profit

666

609

779

476

578

589

619

925

642

644

666

892

606

8.08

7.40

9.46

5.79

7.02

7.16

7.51

11.23

7.79

7.82

8.08

10.82

7.35

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

8,311

10,785

12,585

12,320

11,679

32,292

35,030

38,356

40,182

42,680

43,016

7,205

9,504

11,449

11,145

10,283

27,837

31,532

34,511

36,444

38,445

39,050

Operating Profit

1,107

1,281

1,136

1,175

1,396

4,455

3,498

3,845

3,738

4,236

3,966

OPM %

13.32%

11.88%

9.03%

9.54%

11.95%

13.80%

9.99%

10.03%

9.30%

9.92%

9.22%

142

328

175

591

958

675

609

Interest

762

541

614

567

464

312

295

393

442

382

387

Depreciation

308

304

335

409

373

704

675

715

735

793

836

Profit before Tax

483

221

244

700

3,767

2,704

3,328

3,519

3,737

3,689

Tax %

34.24%

34.14%

36.99%

37.44%

38.91%

25.94%

25.50%

23.95%

22.96%

23.92%

23.90%

Net Profit

318

139

153

428

2,790

2,014

2,531

2,711

2,843

2,807

EPS

1.63

5.80

2.90

3.16

8.65

34.24

24.46

30.73

32.92

34.50

—

Dividend Payout %

0.00%

10.22%

9.76%

9.11%

11.59%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

105

165

1,635

2,256

2,379

2,560

3,002

6,415

11,292

13,526

15,996

18,626

5,754

5,129

4,480

4,081

3,289

3,865

3,999

3,906

4,332

4,291

Trade Payables

1,644

1,940

2,320

2,433

2,475

5,566

7,747

6,926

9,145

8,036

1,172

744

746

937

1,401

5,383

2,912

2,995

3,372

3,849

Total Liabilities

10,285

10,164

10,021

10,108

10,265

21,334

26,115

27,518

33,010

34,967

6,392

6,143

5,969

5,679

8,160

9,455

9,542

9,488

10,904

Capital Work in Progress

130

495

509

930

1,609

1,396

481

485

487

489

491

937

1,172

2,804

3,430

5,324

1,755

2,012

2,044

2,330

2,467

5,888

7,719

7,440

8,513

7,906

2,997

3,866

3,276

Cash & Bank

220

898

1,378

1,857

2,377

1,586

1,357

1,313

1,265

1,489

5,634

6,363

2,426

4,247

3,785

Total Assets

10,285

10,164

10,021

10,108

10,265

21,334

26,115

27,518

33,010

34,967

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

5,196

1,390

1,356

1,124

1,284

1,910

3,523

3,683

4,229

3,442

Cash from Investing

-5

-184

-172

-162

-154

-923

-2,367

-2,831

-4,505

-3,226

Cash from Financing

-5,198

-1,258

-1,196

-951

-1,107

-38

-225

-363

-152

-511

-22

-15

151

242

490

-428

-295

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

60.49

60.71

60.88

61.10

61.23

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

10.77

10.86

10.82

10.56

10.27

10.02

9.93

10.15

Jindal Stainless 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 Stainless 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