MarketFriction

Jindal Steel Ltd

NSE JINDALSTEL · BSE 532286 · Iron & Steel
₹1,100.50 -3.03%
NSE close2026-10-01
52 week range977.10 - 1,306.20
Market cap₹1,15,270 Cr.
P/E37.3
Nifty Next 50Nifty 100Nifty 200Nifty 500Nifty MetalNifty Commodities No price band Delivery 42.8%

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
Sales12,25011,70113,48713,61811,21311,75113,18312,29411,68613,02716,21815,482
Expenses9,9658,85911,04210,7799,0139,56710,9229,2899,60511,39813,28912,822
Operating Profit2,2852,8432,4442,8392,2002,1842,2623,0062,0811,6292,9292,660
OPM %19%24%18%21%20%19%17%24%18%13%18%17%
Other Income323535343526-1,1583022-45-55019
Interest329315321332326313342297371406442548
Depreciation604636995683696698691722750839862926
Profit before tax1,3841,9271,1641,8591,2131,199722,0189823391,0741,205
Tax %-0%-0%20%28%29%21%523%26%35%44%3%30%
Net Profit1,3901,9289331,338860951-3041,4966351891,041844
EPS in Rs13.6018.909.1713.148.449.32-3.3314.656.261.8710.248.28
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales19,46921,60333,28646,96637,92334,57951,16653,21250,35450,12953,45556,413
Expenses16,03216,89426,81738,55331,09221,47235,60743,27040,15340,64043,75147,114
Operating Profit3,4374,7096,4698,4126,83113,10715,5599,94210,2029,4889,7049,299
OPM %18%22%19%18%18%38%30%19%20%19%18%16%
Other Income-79-362-584-1,47074-1,861-1,884-539156-1,065-603-554
Interest3,2543,4413,8664,2643,7682,7531,8881,4461,2941,3121,5171,768
Depreciation4,0683,9493,8835,4803,4292,4142,0972,6912,8222,7683,1713,376
Profit before tax-3,964-3,043-1,864-2,802-2916,0789,6905,2666,2414,3444,4133,600
Tax %-22%-17%-13%-14%37%30%30%25%5%34%24%
Net Profit-3,087-2,538-1,616-2,412-4004,2676,7663,9745,9432,8463,3612,709
EPS in Rs-32.42-24.93-14.56-17.00-1.0735.6256.4031.1158.2127.5733.0126.65
Dividend Payout %0%0%0%0%0%0%5%6%3%7%6%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%9%0%16%
Compounded Profit Growth13%1%1%-19%
Stock Price CAGR31%23%17%6%
Return on Equity6%11%10%8%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital9191929797102102101100100101102
Reserves20,95132,34529,95930,28831,98832,03531,71335,52438,60644,21647,08450,797
Borrowings42,46646,79745,85042,96239,55936,82429,91013,50213,04616,47218,40622,610
Other Liabilities12,02813,16614,67415,88417,35720,78016,11627,51717,67417,88820,17524,126
Total Liabilities75,53792,39890,57589,23089,00189,74277,84076,64469,42778,67685,76697,635
Fixed Assets46,64365,03865,93268,45069,03969,38254,35045,48843,54248,38448,98964,102
CWIP9,06811,8279,7164,9784,0273,1261,7122,5387,8709,61116,7258,372
Investments1,7853923681461501811,1564709078192,2013,168
Other Assets18,04015,14214,55915,65715,78417,05420,62428,14717,10819,86217,85121,993
Total Assets75,53792,39890,57589,23089,00189,74277,84076,64469,42778,67685,76697,635
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1,1824,3336,8507,7249,0278,81411,96116,0487,3476,00810,8247,204
Cash from Investing Activity-6,717-2,262-1,998-1,431-832-1,476-1,884-2,331-4,090-8,344-12,323-10,734
Cash from Financing Activity5,708-2,672-5,108-6,276-8,261-7,016-4,612-15,120-2,5001,3818092,803
Net Cash Flow173-601-25617-673225,465-1,403757-955-689-727
Free Cash Flow-3,8684804,4966,1037,8377,30811,12413,176945-2,418334-2,343
CFO/OP28%127%144%120%107%128%91%116%101%66%130%88%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days3227292024343097121012
Inventory Days3231811851911462071961308711787115
Days Payable13712915016211718113394697888126
Cash Conversion Cycle21879645053609245245281
Working Capital Days87-83-141-62-58-79-65-1-38-21-35-11
ROCE %5%-1%1%3%4%5%17%24%14%13%11%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters61.21%61.21%61.21%61.19%61.19%61.19%62.22%62.36%62.38%62.71%62.71%62.71%
FIIs12.23%11.75%11.93%12.64%12.19%10.99%9.59%9.76%9.43%9.02%9.19%8.84%
DIIs15.22%15.33%14.73%15.34%16.05%17.26%17.72%18.09%18.74%19.10%19.14%19.52%
Public9.88%9.99%10.41%10.01%9.75%9.75%9.65%9.54%9.20%8.93%8.73%8.73%
Others1.48%1.73%1.73%0.81%0.81%0.81%0.81%0.25%0.25%0.25%0.25%0.22%
No. of Shareholders2,38,0542,50,7322,59,9912,80,5332,87,9022,98,2583,05,2853,02,1902,90,3862,82,0862,71,3332,76,544

Fundamentals

Market Cap₹ 1,15,270 Cr.
Current Price₹ 1,130
Stock P/E37.3
Book Value₹ 499
ROCE9.70 %
ROE8.22 %
Dividend Yield0.18 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)16%
Compounded Profit Growth (TTM)-19%
Consolidated figures.
Valuation
Market capRs 112,261 Cr
Enterprise valueRs 130,729 Cr
P/E (TTM)41.30x
Price to book2.21x
Price to sales1.99x
EV / EBITDA14.95x
EV / EBIT24.35x
EV / sales2.32x
Price to cash flow15.58x
Earnings yield2.42%
Dividend yield0.18%
P/E, 3-year average27.13x
P/B, 3-year average2.05x
P/E, 5-year average21.68x
P/B, 5-year average1.82x
Profitability
Operating margin (excl. other income)18.15%
Operating margin (incl. other income)17.03%
EBITDA margin15.50%
Pre-tax margin6.38%
Net profit margin4.82%
Net margin, latest quarter5.46%
ROE6.87%
ROCE8.53%
ROA3.67%
ROE, 3-year average9.11%
ROCE, 3-year average10.29%
ROA, 3-year average5.04%
ROE, 5-year average10.58%
ROCE, 5-year average13.01%
ROA, 5-year average5.38%
ROIC (approx.)5.89%
Tax rate23.84%
Other income / net worth-1.18%
Growth
Sales growth (latest year)6.64%
Profit growth (latest year)19.74%
Sales CAGR, 3 years0.15%
Sales CAGR, 5 years9.10%
Profit CAGR, 3 years1.99%
Profit CAGR, 5 years-1.51%
Sales growth QoQ-4.54%
Profit growth QoQ-19.14%
Sales growth YoY (latest quarter)25.93%
Profit growth YoY (latest quarter)-43.45%
Per share
EPS (TTM)Rs 26.65
EPS (latest year)Rs 33.01
EPS (latest quarter)Rs 8.28
EPS, 3-year averageRs 39.60
EPS, 5-year averageRs 41.26
Book value per shareRs 498.97
Sales per shareRs 553.02
Cash flow per shareRs 70.62
Free cash flow per shareRs -22.97
Dividend per share (latest year)Rs 1.99
Dividend per share, 3-year averageRs 1.98
Dividend per share, 5-year averageRs 2.18
Dividends
Dividend payout6.04%
Dividend payout, 3-year average5.54%
Dividend payout, 5-year average5.64%
Efficiency
Asset turnover0.55x
Fixed asset turnover0.83x
Inventory turnover4.82x
Inventory days76 days
Debtor days12 days
Debtors turnover30.92x
Creditor days126 days
Cash conversion cycle1 days
Working capital days-11 days
Leverage
Total debtRs 22,610 Cr
Cash and bankRs 4,142 Cr
Net debtRs 18,468 Cr
Debt to equity0.44x
Net debt / EBITDA2.11x
Interest coverage3.04x
Current ratio (filing 2026-03-31)1.25x
Quick ratio (filing 2026-03-31)0.81x
Trade payables (filing 2026-03-31)Rs 8,778 Cr
Owners' fund to total sources52.13%
Debt to assets23.16%
Cash flow
Cash from Operating Activity (latest year)Rs 7,204 Cr
Cash from Investing Activity (latest year)Rs -10,734 Cr
Cash from Financing Activity (latest year)Rs 2,803 Cr
Net Cash Flow (latest year)Rs -727 Cr
Free cash flow (latest year)Rs -2,343 Cr
FCFE (approx.: FCF + change in debt)Rs 1,860 Cr
Cash from ops / profit, 5 years2.07x
Sales to cash flow7.42x
Statement figures
Net sales (TTM)Rs 56,413 Cr
Net sales (latest year)Rs 53,455 Cr
Sales (latest quarter)Rs 15,482 Cr
Operating profit excl. other income (latest year)Rs 9,704 Cr
Operating profit (latest quarter)Rs 2,660 Cr
Other income (TTM)Rs -554 Cr
EBITDA (TTM)Rs 8,744 Cr
PBDT (TTM)Rs 6,976 Cr
Profit before tax (TTM)Rs 3,600 Cr
Tax (latest year)Rs 1,052 Cr
Net profit (TTM)Rs 2,718 Cr
Net profit (latest year)Rs 3,367 Cr
Net profit (latest quarter)Rs 845 Cr
Depreciation (TTM)Rs 3,376 Cr
Depreciation (latest quarter)Rs 926 Cr
Interest (TTM)Rs 1,768 Cr
Cost of goods sold (latest year)Rs 38,658 Cr
Total expenditure (latest year)Rs 43,751 Cr
Total income (latest year)Rs 52,852 Cr
Share capitalRs 102 Cr
ReservesRs 50,797 Cr
Shareholders' fundsRs 50,899 Cr
Total assetsRs 97,635 Cr
Net blockRs 64,102 Cr
Capital work in progressRs 8,372 Cr
InvestmentsRs 3,168 Cr
ReceivablesRs 1,729 Cr
InventoryRs 8,023 Cr
Other liabilitiesRs 24,126 Cr
Shares outstanding (crore)102.01
Ownership
Promoter holding62.71% (+0.35 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 41.3 is at the 89th percentile of its own 5.4-year range (median 18.7, low 5.8, high 64.0).
P/B 2.21 is at the 82th percentile (median 1.27).
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.
PeriodJINDALSTELNifty 50Difference
1 week-4.9%-2.8% -2.2 pts
1 month-5.1%-6.8% +1.7 pts
3 months+4.4%-7.6% +12.0 pts
6 months-1.1%+0.4% -1.5 pts
1 year+4.6%-9.9% +14.6 pts
2 years+7.7%-13.6% +21.3 pts
3 years+56.9%+14.2% +42.7 pts
5 years+174.0%+27.9% +146.1 pts
235 mutual fund schemes hold about ₹22,003 Cr. Over three months 110 bought more and 31 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Flexi Cap Fund4.02%2,267 +7%
Kotak Flexi Cap Fund4.02%2,256 +7%
HDFC Mid Cap Fund1.62%1,754 +0%
ICICI Pru Large & Mid Cap Fund2.61%877 +41%
SBI Aggressive Hybrid Fund0.94%835 +4%
SBI Large & Midcap Fund1.83%775 -5%
Kotak Large & Mid Cap Fund1.92%620 +4%
Kotak Mid Cap Fund0.87%620 +2%
HDFC Balanced Advantage Fund0.47%504 +7%
Aditya Birla SL Flexi Cap Fund1.64%477 +6%
ICICI Pru Multi Cap Fund2.41%472 +4%
ICICI Pru Multi Cap Fund2.41%453 +4%
DSP Midcap Fund2.11%444 +3%
Mirae Asset Large Cap Fund1.03%397 +106%
Bandhan Large & Mid Cap Fund1.84%388 +29%
Aditya Birla SL Large Cap Fund1.21%358 +15%
ICICI Pru Commodities Fund7.79%333 +6%
ICICI Pru Mid Cap Fund3.96%332 +1%
ICICI Pru Mid Cap Fund3.96%315 +1%
Kotak Arbitrage Fund(M0.35%268 -24%
Sundaram Mid Cap Fund1.70%253 +2%
Sundaram Mid Cap Fund1.70%247 +2%
HDFC Large & Mid Cap Fund0.75%227 +4%
DSP Large & Mid Cap Fund1.17%216 +5%
HSBC Value Fund1.32%203 -14%

Red flags

F-score 5 of 8
lookInventory outrunning sales Inventory grew 43% vs sales +7% in 2026
lookAuditor change Auditor change 2026-07-24: JINDAL STEEL LIMITED has informed the Exchange regarding Change in Auditors of the company.
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.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-02-20Skyhigh Sustainable LimitedPromoter Groupother49,709,952Rs 9.10 CrOff Market
2026-02-20Gagan Infraenergy LimitedPromoter Groupother49,709,952Rs 9.10 CrOff Market
2025-12-10JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy243,346Rs 24.53 CrMarket Purchase
2025-12-09JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy267,899Rs 26.65 CrMarket Purchase
2025-12-08JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy280,563Rs 28.10 CrMarket Purchase
2025-12-05JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy10,500Rs 1.04 CrMarket Purchase
2025-12-04JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy41,787Rs 4.20 CrMarket Purchase
2025-12-03JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy61,399Rs 6.25 CrMarket Purchase
2025-12-02JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy144,611Rs 14.99 CrMarket Purchase
2025-12-01JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy118,448Rs 12.34 CrMarket Purchase
2025-11-27JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy134,263Rs 13.92 CrMarket Purchase
2025-11-25JINDAL CEMENT INDUSTRIES PRIVATE LPromoter Groupbuy91,212Rs 9.30 CrMarket Purchase
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹15,482 Cr +25.9% vs Jun 2025. Net profit ₹844 Cr -43.6%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
JSW Steel Ltd311,16025.811.0 %
Tata Steel Ltd234,69019.812.5 %
Steel Authority of India Ltd75,10115.67.92 %
Jindal Stainless Ltd60,86718.519.3 %
Sarda Energy & Minerals Ltd17,63115.716.9 %
Vedanta Iron & Steel Ltd12,846%
NMDC Steel Ltd12,2471463.06 %
Sandur Manganese & Iron Ores Ltd8,88112.024.2 %
Jai Balaji Industries Ltd5,77939.59.57 %
Prakash Industries Ltd2,1786.969.56 %
Manaksia Steels Ltd73313.513.4 %
Scan Steels Ltd30413.47.05 %
KIC Metaliks Ltd10833.64.01 %
Ankit Metal & Power Ltd27-34.2 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-08-21Dividend - Rs 2 Per Share
2025-08-22Dividend - Rs 2 Per Share
2024-08-22Dividend - Rs 2 Per Share
2023-08-18Dividend - Rs 2 Per Sh
2022-09-20Dividend - Rs 2 Per Share
2022-03-16Interim Dividend - Re 1 Per Share
2021-09-23 Annual General Meeting
2020-09-23 Annual General Meeting
2019-09-19 Annual General Meeting
2018-09-19 Annual General Meeting
2017-09-11 Annual General Meeting
2016-07-15 Annual General Meeting
2015-09-07 Annual General Meeting
2014-07-11Annual General Meeting/Dividend Rs 1.50/- Per Share
2013-09-13Annual General Meeting And Dividend Rs.1.60 Per Share
2012-09-10Annual General Meeting And Dividend Rs.1.60 Per Share
2011-09-12Dividend-Rs.1.50 Per Share
2010-09-13Dividend-Rs.1.25 Per Share
2009-09-14Inferred from price: close fell to 0.171x overnight, no NSE action on record0.1667
2009-09-14Div-Rs.5.50 Pr Sh/Bon 5:1purpose Revised
2008-09-12Agm/Dividend - 250%
2008-02-27Int Div -Rs.1.50/- Per Sh
2008-01-21Fv Split Rs.5/- To Re.1/-0.2000
2007-09-06Agm/Dividend-240%
2007-02-05Interim Dividend-120% Purpose Revised
2006-09-14Final Dividend-200%
DateTypeWhat it says
2026-09-15Concall / analyst meetSchedule of meet
2026-08-28Shareholder meetingProceedings of Annual General Meeting held on August 28, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with...
2026-08-26Concall / analyst meetSchedule of meet
2026-08-13Concall / analyst meetSchedule of meet
2026-08-10Concall / analyst meetSchedule of meet
2026-08-07Concall / analyst meetSchedule of meet
2026-08-06General UpdatesBusiness Responsibility and Sustainability Report for the financial year 2025-26
2026-08-06General UpdatesTax Transparency Report for the Financial Year 2025-26
2026-08-06Record DateRecord date for the purpose of Dividend is 21-Aug-2026.
2026-08-06Shareholder meetingNotice of Annual General Meeting to be held on August 28, 2026
2026-07-31Concall / analyst meetTranscript
2026-07-29Director changeChange in Director(s) of the company.
2026-07-27Credit Rating- RevisionCredit Rating- Revision
2026-07-25Concall / analyst meetLink of Recording
2026-07-24Investor PresentationInvestor Presentation
2026-07-24Change in AuditorsChange in Auditors of the company.
2026-07-24AppointmentAppointment of Mr Sukhjit Singh Pasricha as Head-Human Resources (Senior Management Personnel) of the Company w.e.f. July 24, 2026.
2026-07-24AppointmentAppointment of Mr Rajiv Kumar as Chief Operating Officer (Senior Management Personnel) of the company w.e.f. July 24, 2026.
2026-07-24AppointmentAppointment of Mr. Vidya Rattan Sharma as Managing Director of the Company w.e.f. July 24, 2026.
2026-07-24AppointmentAppointment of Mr. Sandeep Modi as Chief Financial Officer of the Company w.e.f. July 24, 2026.
2026-07-24Board meeting outcomeJINDAL STEEL LIMITED has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-21Concall / analyst meetSchedule of meet
2026-07-11ResignationResignation of Mr Gautam Malhotra as Chief Executive Officer of the company w.e.f. July 15, 2026.
2026-07-06Disclosure under SEBI TakeovOpelina Sustainable Services Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange ...
2026-07-01ResignationResignation of Mr Pankaj Malhan as Head - Sales & Marketing (Senior Management Personnel) of the company w.e.f. July 01, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.91
Max pain (expiry 2026-10-27)1,140
Largest call open interest at1,140
Largest put open interest at1,080
Implied volatility, at the money26.1%
Underlying at snapshot1,100.50
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-301,828
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-07-26NCLTM/s. Jindal Steel Impex Vs Alliance Integrated Metaliks Ltd
2021-06-11NCLTJINDAL STEEL & POWER LIMITED Vs BHARAT NRE COKE LIMITED
2021-05-07NCLTJINDAL STEEL & POWER LIMITED Vs BHARAT NRE COKE LIMITED
2021-03-26NCLTM/s. Jindal Steel Impex Vs Alliance Integrated Metaliks Ltd
2021-01-15NCLTM/s. Jindal Steel Impex Vs Alliance Integrated Metaliks Ltd
2020-12-30NCLTJINDAL STEEL & POWER LIMITED Vs BHARAT NRE COKE LIMITED
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 Steel Ltd?

Jindal Steel Ltd (JINDALSTEL) has a market capitalisation of Rs 1,15,270 Cr. at the 2026-10-01 close.

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

Jindal Steel Ltd trades at a P/E of 37.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were Jindal Steel Ltd's latest quarterly results?

In the Jun 2026 quarter, Jindal Steel Ltd sales was Rs 15,482 Cr (+25.9% vs Jun 2025) and net profit was Rs 844 Cr.

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

The 52-week high is Rs 1,306.20 and the 52-week low is Rs 977.10.

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