MarketFriction

Jindal Saw Ltd

NSE JINDALSAW · BSE 500378 · Iron & Steel Products
₹270.30 -2.66%
NSE close2026-10-01
52 week range153.00 - 320.00
Market cap₹17,759 Cr.
P/E27.2
Nifty 500Smallcap 250 Price band 20% Delivery 50.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5,4665,6565,4254,9395,5725,2715,0474,0854,2344,9434,6334,452
Expenses4,6634,6684,5054,1004,6584,3324,3103,4153,7824,3314,1564,061
Operating Profit804988920840914939736670451613478391
OPM %15%17%17%17%16%18%15%16%11%12%10%9%
Other Income224069513729282940222324
Interest189182174154158173139171153133163108
Depreciation141147149148151151153153156155167164
Profit before tax496700667588643645473374183347172143
Tax %28%27%28%29%26%26%82%-11%24%29%28%36%
Net Profit3565124804164754798741513924812491
EPS in Rs5.908.347.856.907.817.924.556.632.384.032.181.63
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7,7037,0708,50712,11711,62710,66413,29817,86820,95820,82917,89518,263
Expenses6,9796,3937,46610,64510,1169,42211,89916,19217,63117,38515,66616,330
Operating Profit7236771,0411,4721,5111,2421,3991,6763,3263,4442,2291,933
OPM %9%10%12%12%13%12%11%9%16%17%12%11%
Other Income13633024515-320915515516213097109
Interest679569579615620493460642705623620557
Depreciation328337363396422459473470568602630641
Profit before tax-1481011229754674996217192,2162,3491,076844
Tax %-46%62%109%22%1%34%40%37%28%38%14%
Net Profit-8039-117644613283764521,5931,458925601
EPS in Rs-0.661.782.7913.298.674.996.4410.0726.2227.1815.2210.22
Dividend Payout %-76%28%22%8%12%20%16%15%8%7%13%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%11%0%-9%
Compounded Profit Growth42%25%14%-62%
Stock Price CAGR26%37%17%37%
Return on Equity9%12%14%8%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital586164646464646464646464
Reserves5,3325,0615,3225,4326,2186,7006,9197,3007,85710,02911,34712,510
Borrowings8,1027,5476,2226,3115,6925,6495,3356,0314,9615,7614,8594,691
Other Liabilities2,5071,6761,2481,3892,8072,6693,4973,0485,0014,8244,3954,307
Total Liabilities15,99914,34612,85613,19714,78115,08215,81516,44317,88320,67920,66521,572
Fixed Assets8,2397,9777,4557,1207,1637,4917,3167,3577,4848,8539,34110,409
CWIP531254102126260423404293300632641453
Investments309154119110190129198224175178168105
Other Assets6,9215,9615,1805,8407,1697,0397,8988,5709,92411,01610,51610,606
Total Assets15,99914,34612,85613,19714,78115,08215,81516,44317,88320,67920,66521,572
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-1839171,1635651,5671,6651,570731,6162,5932,3351,771
Cash from Investing Activity-867-517-428-121-518-468-359-190-68-1,917-897-947
Cash from Financing Activity1,253-512-816-470-977-1,168-83161-1,966-12-1,524-1,073
Net Cash Flow203-112-81-257228379-55-419663-86-249
Free Cash Flow-8954348773771,0711,1071,173-2791,3791,7411,324706
CFO/OP-9%137%188%61%118%122%134%16%106%87%86%92%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days918371836759735073606263
Inventory Days257210221183156141177173134147152191
Days Payable7742394288741177198897895
Cash Conversion Cycle271250253224134126132152109119136159
Working Capital Days2630374212-12-17-1515194166
ROCE %6%4%4%7%11%10%8%9%11%21%19%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters63.26%63.26%63.27%63.29%63.29%63.28%63.28%63.26%63.25%63.25%63.25%63.25%
FIIs17.71%15.22%14.66%15.06%16.08%15.73%16.99%15.12%15.35%14.09%13.46%13.08%
DIIs1.67%2.27%2.99%3.87%4.54%4.69%4.40%4.77%4.35%3.50%5.79%8.36%
Public16.79%18.66%18.60%17.32%15.65%15.83%14.95%16.48%16.69%18.79%17.20%15.03%
Others0.58%0.58%0.49%0.46%0.46%0.45%0.38%0.37%0.37%0.36%0.30%0.26%
No. of Shareholders92,0001,16,1811,19,4221,37,3581,48,6831,72,2091,74,1891,87,1681,96,7602,13,8162,07,7321,78,027

Fundamentals

Market Cap₹ 17,759 Cr.
Current Price₹ 278
Stock P/E27.2
Book Value₹ 197
ROCE10.4 %
ROE8.20 %
Dividend Yield0.72 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-9%
Compounded Profit Growth (TTM)-62%
Consolidated figures.
Valuation
Market capRs 17,286 Cr
Enterprise valueRs 21,434 Cr
P/E (TTM)26.45x
Price to book1.37x
Price to sales0.95x
EV / EBITDA10.50x
EV / EBIT15.30x
EV / sales1.17x
Price to cash flow9.76x
Earnings yield3.78%
Dividend yield0.74%
P/E, 3-year average8.70x
P/B, 3-year average1.04x
P/E, 5-year average6.64x
P/B, 5-year average0.72x
Profitability
Operating margin (excl. other income)12.46%
Operating margin (incl. other income)13.00%
EBITDA margin11.18%
Pre-tax margin4.62%
Net profit margin3.58%
Net margin, latest quarter2.34%
ROE8.12%
ROCE10.11%
ROA4.61%
ROE, 3-year average14.30%
ROCE, 3-year average16.31%
ROA, 3-year average7.24%
ROE, 5-year average11.41%
ROCE, 5-year average13.54%
ROA, 5-year average5.60%
ROIC (approx.)7.21%
Tax rate13.98%
Other income / net worth0.77%
Growth
Sales growth (latest year)-14.08%
Profit growth (latest year)-44.01%
Sales CAGR, 3 years0.05%
Sales CAGR, 5 years10.91%
Profit CAGR, 3 years14.76%
Profit CAGR, 5 years25.01%
Sales growth QoQ-3.91%
Profit growth QoQ-25.29%
Sales growth YoY (latest quarter)9.00%
Profit growth YoY (latest quarter)-75.43%
Per share
EPS (TTM)Rs 10.22
EPS (latest year)Rs 15.22
EPS (latest quarter)Rs 1.63
EPS, 3-year averageRs 31.62
EPS, 5-year averageRs 25.57
Book value per shareRs 196.62
Sales per shareRs 285.57
Cash flow per shareRs 27.70
Free cash flow per shareRs 11.04
Dividend per share (latest year)Rs 2.00
Dividend per share, 3-year averageRs 2.67
Dividend per share, 5-year averageRs 2.60
Dividends
Dividend payout13.14%
Dividend payout, 3-year average9.37%
Dividend payout, 5-year average11.71%
Efficiency
Asset turnover0.83x
Fixed asset turnover1.72x
Inventory turnover2.36x
Inventory days154 days
Debtor days63 days
Debtors turnover5.78x
Creditor days95 days
Cash conversion cycle159 days
Working capital days66 days
Leverage
Total debtRs 4,691 Cr
Cash and bankRs 543 Cr
Net debtRs 4,148 Cr
Debt to equity0.37x
Net debt / EBITDA2.03x
Interest coverage2.52x
Current ratio (filing 2026-03-31)1.61x
Quick ratio (filing 2026-03-31)0.76x
Trade payables (filing 2026-03-31)Rs 2,623 Cr
Owners' fund to total sources58.29%
Debt to assets21.74%
Cash flow
Cash from Operating Activity (latest year)Rs 1,771 Cr
Cash from Investing Activity (latest year)Rs -947 Cr
Cash from Financing Activity (latest year)Rs -1,073 Cr
Net Cash Flow (latest year)Rs -249 Cr
Free cash flow (latest year)Rs 706 Cr
FCFE (approx.: FCF + change in debt)Rs 538 Cr
Cash from ops / profit, 5 years1.75x
Sales to cash flow10.10x
Statement figures
Net sales (TTM)Rs 18,263 Cr
Net sales (latest year)Rs 17,895 Cr
Sales (latest quarter)Rs 4,452 Cr
Operating profit excl. other income (latest year)Rs 2,229 Cr
Operating profit (latest quarter)Rs 391 Cr
Other income (TTM)Rs 109 Cr
EBITDA (TTM)Rs 2,042 Cr
PBDT (TTM)Rs 1,485 Cr
Profit before tax (TTM)Rs 844 Cr
Tax (latest year)Rs 150 Cr
Net profit (TTM)Rs 653 Cr
Net profit (latest year)Rs 973 Cr
Net profit (latest quarter)Rs 104 Cr
Depreciation (TTM)Rs 641 Cr
Depreciation (latest quarter)Rs 164 Cr
Interest (TTM)Rs 557 Cr
Cost of goods sold (latest year)Rs 12,455 Cr
Total expenditure (latest year)Rs 15,666 Cr
Total income (latest year)Rs 17,992 Cr
Share capitalRs 64 Cr
ReservesRs 12,510 Cr
Shareholders' fundsRs 12,574 Cr
Total assetsRs 21,572 Cr
Net blockRs 10,409 Cr
Capital work in progressRs 453 Cr
InvestmentsRs 105 Cr
ReceivablesRs 3,094 Cr
InventoryRs 5,267 Cr
Other liabilitiesRs 4,307 Cr
Shares outstanding (crore)63.95
Ownership
Promoter holding63.25% (-0.01 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 26.4 is at the 86th percentile of its own 9.4-year range (median 11.3, low 1.7, high 41.9).
P/B 1.37 is at the 78th percentile (median 0.58).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodJINDALSAWNifty 50Difference
1 week-4.5%-2.8% -1.7 pts
1 month-12.7%-6.8% -5.9 pts
3 months+3.6%-7.6% +11.2 pts
6 months+47.6%+0.4% +47.2 pts
1 year+28.2%-9.9% +38.1 pts
2 years-25.0%-13.6% -11.5 pts
3 years+56.0%+14.2% +41.8 pts
5 years+376.1%+27.9% +348.2 pts
63 mutual fund schemes hold about ₹1,666 Cr. Over three months 53 bought more and 5 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HSBC Value Fund1.60%246 +10%
Nippon India Small Cap Fund0.28%234 +8%
Mahindra Manulife Small Cap Fund3.48%190 +13%
Canara Rob Small Cap Fund1.28%188 +97%
Mahindra Manulife Multi Cap Fund1.67%128 +13%
ICICI Pru Small Cap Fund1.02%100 +602%
ICICI Pru Small Cap Fund1.02%97 +602%
HSBC Small Cap Fund0.40%76 +7%
Aditya Birla SL Small Cap Fund1.06%66 +5%
HSBC ELSS Tax saver Fund1.38%58 +10%
Bandhan Small Cap Fund0.12%41 -13%
Abakkus Small Cap Fund1.37%38 -11%
ICICI Pru Energy Opportunities Fund0.38%31 +49%
Mahindra Manulife Value Fund2.60%27 +29%
DSP Natural Res & New Energy Fund0.64%16 +7%
DSP Natural Res & New Energy Fund0.64%16 +7%
Nippon India Nifty Smallcap 250 Index Fund0.33%11 +10%
ICICI Pru Exports & Services Fund0.69%11 +3%
ICICI Pru Exports & Services Fund0.69%10 +3%
Union Business Cycle Fund1.95%10 +140%
iSIF Hybrid Long-Short Fund0.70%9 +100%
JM Value Fund1.14%9 +10%
Bandhan Business Cycle Fund0.62%7 +18%
ICICI Pru Multi Cap Fund0.03%6 +383%
SBI Nifty Smallcap 250 Index Fund0.33%6 +10%

Red flags

F-score 5 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹4,452 Cr +9.0% vs Jun 2025. Net profit ₹91 Cr -78.1%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-05-22Dividend - Rs 2 Per Share
2025-06-05Dividend - Rs 2 Per Share
2024-11-29Extra Ordinary General Meeting
2024-10-09Face Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share0.5000
2024-09-13Extra Ordinary General Meeting
2024-06-11Annual General Meeting/Dividend - Rs 4 Per Share
2023-06-13Annual General Meeting/Dividend - Rs 3 Per Share
2022-09-19Annual General Meeting/Dividend - Rs 2 Per Share
2021-07-08 Annual General Meeting/Dividend - Rs 2 Per Share
2020-09-17 Annual General Meeting/Dividend - Rs 2 Per Share
2019-08-29 Annual General Meeting/Dividend Rs 2 Per Sh
2018-09-18 Annual General Meeting/Dividend- Rs 1.20 Per Share
2017-09-15 Annual General Meeting/Dividend - Re 1/- Per Share
2016-12-14 Annual General Meeting/Dividend Re 1/- Per Share
2016-08-25 Scheme Of Arrangement
2015-09-10 Annual General Meeting/ Dividend - Re 1/- Per Share
2014-09-05Annual General Meeting / Dividend - Re 1/- Per Share
2013-09-23Annual General Meeting And Dividend Re.1/- Per Share
2012-09-21Annual General Meeting And Dividend - Re.1/- Per Share
2011-11-22Scheme Of Arrangement
2011-09-26Annual General Meeting And Dividend Re.1/- Per Share
2010-09-09Annual General Meeting And Dividend Rs.1.25 Per Share
2009-12-10Fv Split Rs.10/- To Rs.2/0.2000
2009-06-15Agm/Div - Rs.5 Per Share
2008-03-19Agm/Div-Rs6.25 Per Share
2006-12-22Agm/Div-Rs.5/- Per Eq Sh
DateTypeWhat it says
2026-09-21UpdatesAffirmation of Ratings.
2026-08-26Concall / analyst meetSchedule of meet
2026-08-24Concall / analyst meetSchedule of meet
2026-07-23Concall / analyst meetSchedule of meet
2026-07-22Concall / analyst meetTranscript
2026-07-17Concall / analyst meetSchedule of meet
2026-07-17Concall / analyst meetSchedule of meet
2026-07-16Concall / analyst meetSchedule of meet
2026-07-15Concall / analyst meetLink of Recording
2026-07-14General UpdatesGeneral Updates
2026-07-14UpdatesCommittees Reconstitution.
2026-07-14Board meeting outcomeJindal Saw Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-10Change in ManagementChange in Management
2026-07-10Concall / analyst meetSchedule of meet
2026-06-26Credit RatingCredit Rating
2026-06-25UpdatesUpdate of API License of the Company.
2026-06-24Concall / analyst meetSchedule of meet
2026-06-24Concall / analyst meetSchedule of meet
2026-06-23Concall / analyst meetSchedule of meet
2026-06-22Disclosure under SEBI TakeovSiddeshwari Tradex Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of I...
2026-06-18Concall / analyst meetSchedule of meet
2026-06-18Concall / analyst meetSchedule of meet
2026-06-16Concall / analyst meetSchedule of meet
2026-06-16Concall / analyst meetSchedule of meet
2026-06-15Shareholder meetingWith copy of minutes of Annual General Meeting held on May 29, 2026
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2020-07-14CESTATJINDAL SAW LIMITED ---VS.--- DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES
2019-12-18CESTATJINDAL SAW LIMITED ---VS.--- DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES
2019-12-17CESTATJINDAL SAW LIMITED ---VS.--- DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES
2019-12-11CESTATJINDAL SAW LIMITED ---VS.--- DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES
2019-09-30CESTATJINDAL SAW LIMITED ---VS.--- DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES
2018-05-11CESTATJINDAL SAW LIMITED ---VS.--- LTU DELHI
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Jindal Saw Ltd?

Jindal Saw Ltd (JINDALSAW) has a market capitalisation of Rs 17,759 Cr. at the 2026-10-01 close.

What is the P/E ratio of Jindal Saw Ltd?

Jindal Saw Ltd trades at a P/E of 27.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Jindal Saw Ltd's latest quarterly results?

In the Jun 2026 quarter, Jindal Saw Ltd sales was Rs 4,452 Cr (+9.0% vs Jun 2025) and net profit was Rs 91 Cr.

What is the 52-week high and low of Jindal Saw Ltd?

The 52-week high is Rs 320.00 and the 52-week low is Rs 153.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03