JTL Industries Ltd

•

jtl.oneBSE: 534600NSE: JTLIND

Market Cap₹ 3,526 Cr.

Current Price

High / Low₹ 94 / 40

Stock P/E34.8

Book Value₹ 34

Price to Book2.85

Dividend Yield0.14 %

ROCE13.2 %

ROE12.4 %

Face Value₹ 1

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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 57.9% CAGR over last 5 years
Company is almost debt free
Company has a good return on equity (ROE) track record: 3 Years ROE 24.9%
Company has a healthy return on capital (ROCE) of 23.0%
Latest quarter profit grew 85.1% YoY, showing strong momentum
Company has delivered good sales growth of 52.8% CAGR over last 5 years

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -5.0pp
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.76x)
Total debt has risen sharply - up 167.4% year on year
Working capital days have increased from 107 to 160 days

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

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	JSWSTEEL	1309.00	12.92	320109.92	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	183.65	20.78	229258.67	2.18	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	196.00	18.95	80958.30	1.20	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2646.15	30.23	69802.96	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	737.80	18.72	60825.68	0.54	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2151.00	48.59	59724.32	0.40	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1081.75	26.88	30195.09	0.42	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	JINDALSAW	310.70	30.41	19869.52	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2666.75	43.18	18691.78	0.38	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	506.95	15.81	17863.97	0.39	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	239.75	20.01	16140.90	0.42	222.37	2.75	1750.47	32.29	20.20	19.36
12.	JTLIND	89.70	30.74	3525.94	0.14	35.37	113.70	721.61	32.68	13.03	8.14

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
	505	502	567	466	516	480	452	466	504	371	423	500	536
	469	465	525	429	476	450	416	449	483	341	388	461	502
Operating Profit	36	37	43	37	40	30	35	17	21	29	35	39	34
OPM %	7.04%	7.45%	7.49%	7.91%	7.75%	6.22%	7.81%	3.74%	4.13%	7.94%	8.26%	7.87%	6.42%
	1	3	1	3	4	8	2	9	5	3	4	2	5
Interest	1	1	2	1	1	1	1	1	2	2	3	3	5
Depreciation	1	1	2	2	2	2	2	3	3	4	4	4	4
Profit before Tax	34	38	40	38	41	35	34	22	21	27	32	34	39
Tax %	25.16%	26.16%	25.17%	22.54%	24.61%	24.32%	25.93%	24.87%	24.36%	26.99%	19.65%	24.16%	25.06%
Net Profit	25	28	30	29	31	26	25	17	16	20	26	26	29
	1.50	1.64	0.89	0.84	0.87	1.39	0.64	0.43	0.40	0.51	0.66	0.66	0.75

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	95	113	170	322	230	436	1,355	1,548	2,041	1,913	1,831
	93	110	155	298	214	403	1,266	1,419	1,888	1,790	1,692
Operating Profit	2	2	15	24	16	33	89	129	153	123	138
OPM %	1.89%	2.14%	8.67%	7.36%	7.14%	7.52%	6.60%	8.35%	7.48%	6.41%	7.55%
	1	1	0	1	3	5	4	4	8	23	14
Interest	1	1	2	3	4	9	8	6	5	4	12
Depreciation	0	0	0	1	1	2	3	4	6	9	15
Profit before Tax	2	2	13	21	14	27	82	123	150	132	133
Tax %	23.48%	36.55%	36.72%	29.58%	26.10%	25.77%	25.84%	26.50%	24.76%	24.91%	23.91%
Net Profit	1	1	8	15	10	20	61	90	113	99	101
EPS	0.00	0.00	0.00	0.00	0.00	3.39	7.63	4.64	6.36	2.51	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	10.57%	0.00%	1.87%	3.93%	4.97%	—

COMPOUNDED SALES GROWTH

10 Years:: 32%
5 Years:: 53%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: 61%
5 Years:: 58%
3 Years:: 17%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -5%
1 Year:: 17%

RETURN ON EQUITY

10 Years:: 27%
5 Years:: 30%
3 Years:: 25%
Last Year:: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	10	10	10	10	11	11	12	17	35	39
	4	6	14	28	51	71	178	294	505	1,010
	9	21	24	49	59	65	97	105	20	57
Trade Payables	6	10	20	6	11	34	26	29	24	23
	1	2	5	15	10	29	26	117	258	185
Total Liabilities	31	48	72	108	141	209	339	562	843	1,315
	3	4	6	19	24	28	49	65	106	189
Capital Work in Progress	0	0	2	0	0	0	3	4	6	63
	0	0	0	0	0	0	12	16	6	11
	10	16	19	22	42	53	119	168	150	197
	0	0	0	0	0	0	0	0	193	277
Cash & Bank	2	1	1	2	3	4	2	53	111	68
	15	27	44	64	72	124	154	255	271	509
Total Assets	31	48	72	108	141	209	339	562	843	1,315

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	10	-4	-3	-1	-16	-2	44	33	-23	-215
Cash from Investing	1	-1	-4	-13	-6	-8	-34	-23	-91	-210
Cash from Financing	-10	4	9	18	27	12	17	66	171	384
	1	-1	0	0	0	-0	-0	50	57	-41

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	1.21	1.38	8.03	14.49	9.50	18.91	10.32	10.69	6.36	2.51
Book Value (₹)	14.21	15.59	23.52	38.01	57.72	76.63	32.16	36.88	30.55	26.69
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	2.00	0.00	0.20	0.25	0.12
Cash EPS (₹)	0.08	0.09	0.43	0.76	0.54	1.03	2.71	2.80	3.34	2.75
PROFITABILITY
Operating Margin %	3.04%	3.30%	8.81%	7.61%	8.34%	8.58%	6.88%	8.67%	7.48%	6.41%
Net Margin %	1.15%	1.22%	4.74%	4.51%	4.38%	4.60%	4.51%	5.82%	5.52%	5.17%
ROE %	8.90%	9.23%	41.07%	47.10%	20.30%	28.16%	44.96%	35.95%	26.43%	12.43%
ROCE %	11.58%	14.16%	40.35%	38.23%	17.80%	25.54%	39.85%	32.07%	23.68%	13.17%
	3.64%	3.48%	13.30%	16.09%	8.09%	11.45%	22.26%	20.01%	16.03%	9.16%
EFFICIENCY
Debtor Days	40	38	52	49	84	61	28	29	30	45
Inventory Days	30	42	38	23	51	40	23	34	28	33
Payable Days	21	28	38	17	15	21	9	7	5	5
	49	53	52	56	120	80	42	56	53	73
FINANCIAL HEALTH
Debt to Equity (x)	0.41x	0.71x	0.91x	0.93x	0.95x	0.78x	0.49x	0.34x	0.04x	0.05x
Interest Coverage (x)	2.34x	2.90x	8.23x	7.50x	4.37x	4.12x	11.67x	20.31x	30.37x	30.87x
	2.02x	1.94x	1.41x	1.45x	1.50x	1.82x	2.02x	3.38x	10.27x	10.39x
GROWTH
Revenue Growth %	-20.49%	18.90%	50.49%	89.62%	-28.56%	89.52%	211.02%	14.25%	31.80%	-6.26%
Operating Profit Growth %	8.13%	16.69%	301.40%	63.80%	-21.76%	95.13%	149.23%	44.08%	19.33%	-9.46%
Net Profit Growth %	45.34%	13.56%	484.11%	80.41%	-30.52%	99.14%	204.35%	47.59%	24.90%	-12.22%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-40.49%	-60.47%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	14.46x	30.23x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.02x	2.85x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.14%	0.16%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	19.74x	20.48x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.24	48.91	48.91	48.91	48.91	48.91	49.26	49.26	49.26
	5.82	5.60	5.00	4.86	4.44	3.39	3.34	3.40	4.84
	0.30	1.64	2.22	3.04	3.36	2.21	0.02	0.00	0.14
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	39.64	43.86	43.88	43.19	43.29	45.49	47.38	47.34	45.76

Documents

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

2026-09-03

Copy of Newspaper Publication

2026-09-03 - JTL INDUSTRIES LIMITED has informed the Exchange about Copy of Newspaper Publication of Notice of 35th Annual General Meeting and E-voting information

2026-09-02

General Updates

2026-09-02 - JTLIND: JTL INDUSTRIES LIMITED has informed the Exchange about Intimation under SEBI (LODR) Regulations, 2015- Letter to Members

2026-09-02

General Updates

2026-09-02 - JTLIND: JTL INDUSTRIES LIMITED has informed the Exchange about Business Responsibility and Sustainability Report for Financial Year 2025-26

2026-09-02

Shareholders meeting

2026-09-02 - JTL INDUSTRIES LIMITED has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-08-31

Change in Director(s)

2026-08-31 - JTL INDUSTRIES LIMITED has informed the Exchange regarding Change in Director(s) of the company.

2026-08-31

Record Date

2026-08-31 - JTL INDUSTRIES LIMITED has informed the Exchange that Record date for the purpose of Dividend is 11-Sep-2026.

2026-08-31

Outcome of Board Meeting

2026-08-31 - JTL INDUSTRIES LIMITED has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.

2026-08-24

Press Release

2026-08-24 - JTL INDUSTRIES LIMITED has informed the Exchange regarding a press release dated August 24, 2026, titled "Expansion of Narrow-width HR Coil manufacturing capacity by Subsidiary Company".

2026-08-22

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-22 - JTLIND: JTL INDUSTRIES LIMITED has informed the Exchange about Schedule of Investor meet

News

Recent coverage and analyst commentary for JTLIND

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JTL Industries Ltd

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Free 5nance Account

Name

JSWSTEEL

1309.00

12.92

320109.92

0.54

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

183.65

20.78

229258.67

2.18

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

196.00

18.95

80958.30

1.20

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2646.15

30.23

69802.96

0.19

1047.88

200.11

4081.12

14.91

23.94

32.17

JSL

737.80

18.72

60825.68

0.54

768.66

7.56

11278.54

10.50

19.19

12.09

APLAPOLLO

2151.00

48.59

59724.32

0.40

263.11

10.94

5606.71

12.07

31.83

7.34

SHYAMMETL

1081.75

26.88

30195.09

0.42

3507.30

1106.63

54550.90

1133.35

13.88

14.03

JINDALSAW

310.70

30.41

19869.52

0.64

90.79

-78.15

4452.31

9.00

10.38

8.79

RATNAMANI

2666.75

43.18

18691.78

0.38

107.03

-15.82

971.63

-15.63

18.01

16.69

SARDAEN

506.95

15.81

17863.97

0.39

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

239.75

20.01

16140.90

0.42

222.37

2.75

1750.47

32.29

20.20

19.36

JTLIND

89.70

30.74

3525.94

0.14

35.37

113.70

721.61

32.68

13.03

8.14

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

505

502

567

466

516

480

452

466

504

371

423

500

536

469

465

525

429

476

450

416

449

483

341

388

461

502

Operating Profit

OPM %

7.04%

7.45%

7.49%

7.91%

7.75%

6.22%

7.81%

3.74%

4.13%

7.94%

8.26%

7.87%

6.42%

Interest

Depreciation

Profit before Tax

Tax %

25.16%

26.16%

25.17%

22.54%

24.61%

24.32%

25.93%

24.87%

24.36%

26.99%

19.65%

24.16%

25.06%

Net Profit

1.50

1.64

0.89

0.84

0.87

1.39

0.64

0.43

0.40

0.51

0.66

0.75

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

113

170

322

230

436

1,355

1,548

2,041

1,913

1,831

110

155

298

214

403

1,266

1,419

1,888

1,790

1,692

Operating Profit

129

153

123

138

OPM %

1.89%

2.14%

8.67%

7.36%

7.14%

7.52%

6.60%

8.35%

7.48%

6.41%

7.55%

Interest

Depreciation

Profit before Tax

123

150

132

133

Tax %

23.48%

36.55%

36.72%

29.58%

26.10%

25.77%

25.84%

26.50%

24.76%

24.91%

23.91%

Net Profit

113

101

EPS

0.00

3.39

7.63

4.64

6.36

2.51

—

Dividend Payout %

0.00%

10.57%

0.00%

1.87%

3.93%

4.97%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

178

294

505

1,010

105

Trade Payables

117

258

185

Total Liabilities

108

141

209

339

562

843

1,315

106

189

Capital Work in Progress

119

168

150

197

193

277

Cash & Bank

111

124

154

255

271

509

Total Assets

108

141

209

339

562

843

1,315

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-4

-3

-1

-16

-2

-23

-215

Cash from Investing

-1

-4

-13

-6

-8

-34

-23

-91

-210

Cash from Financing

-10

171

384

-1

-0

-41

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

1.21

1.38

8.03

14.49

9.50

18.91

10.32

10.69

6.36

2.51

Book Value (₹)

14.21

15.59

23.52

38.01

57.72

76.63

32.16

36.88

30.55

26.69

Dividend per Share (₹)

0.00

2.00

0.00

0.20

0.25

0.12

Cash EPS (₹)

0.08

0.09

0.43

0.76

0.54

1.03

2.71

2.80

3.34

2.75

PROFITABILITY

Operating Margin %

3.04%

3.30%

8.81%

7.61%

8.34%

8.58%

6.88%

8.67%

7.48%

6.41%

Net Margin %

1.15%

1.22%

4.74%

4.51%

4.38%

4.60%

4.51%

5.82%

5.52%

5.17%

ROE %

8.90%

9.23%

41.07%

47.10%

20.30%

28.16%

44.96%

35.95%

26.43%

12.43%

ROCE %

11.58%

14.16%

40.35%

38.23%

17.80%

25.54%

39.85%

32.07%

23.68%

13.17%

3.64%

3.48%

13.30%

16.09%

8.09%

11.45%

22.26%

20.01%

16.03%

9.16%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

120

FINANCIAL HEALTH

Debt to Equity (x)

0.41x

0.71x

0.91x

0.93x

0.95x

0.78x

0.49x

0.34x

0.04x

0.05x

Interest Coverage (x)

2.34x

2.90x

8.23x

7.50x

4.37x

4.12x

11.67x

20.31x

30.37x

30.87x

2.02x

1.94x

1.41x

1.45x

1.50x

1.82x

2.02x

3.38x

10.27x

10.39x

GROWTH

Revenue Growth %

-20.49%

18.90%

50.49%

89.62%

-28.56%

89.52%

211.02%

14.25%

31.80%

-6.26%

Operating Profit Growth %

8.13%

16.69%

301.40%

63.80%

-21.76%

95.13%

149.23%

44.08%

19.33%

-9.46%

Net Profit Growth %

45.34%

13.56%

484.11%

80.41%

-30.52%

99.14%

204.35%

47.59%

24.90%

-12.22%

0.00%

-40.49%

-60.47%

VALUATION

P/E (x)

0.00x

14.46x

30.23x

P/B (x)

0.00x

6.02x

2.85x

Dividend Yield %

0.00%

0.14%

0.16%

0.00x

19.74x

20.48x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

54.24

48.91

49.26

5.82

5.60

5.00

4.86

4.44

3.39

3.34

3.40

4.84

0.30

1.64

2.22

3.04

3.36

2.21

0.02

0.00

0.14

Government

0.00

39.64

43.86

43.88

43.19

43.29

45.49

47.38

47.34

45.76

JTL Industries Ltd

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Quarterly Results

Profit & Loss

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JTL 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