Price
Financials
Consolidated, Rs crore| Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 955 | 1,161 | 1,477 | 1,462 | 1,437 | 1,473 | 1,688 | 1,665 | 758 | 1,102 | 1,649 | 1,676 |
| Expenses | 894 | 1,009 | 1,271 | 1,284 | 1,355 | 1,381 | 1,570 | 1,647 | 850 | 1,069 | 1,515 | 1,574 |
| Operating Profit | 62 | 152 | 206 | 179 | 83 | 93 | 118 | 17 | -92 | 33 | 134 | 102 |
| OPM % | 6% | 13% | 14% | 12% | 6% | 6% | 7% | 1.0% | -12% | 3.0% | 8% | 6% |
| Other Income | 308 | 3 | 17 | 7 | 5 | 3 | 9 | 15 | 3 | 8 | 12 | 6 |
| Interest | 69 | 68 | 72 | 66 | 68 | 68 | 68 | 68 | 63 | 74 | 82 | 81 |
| Depreciation | 59 | 57 | 57 | 55 | 56 | 56 | 55 | 57 | 57 | 65 | 64 | 68 |
| Profit before tax | 241 | 29 | 93 | 63 | -37 | -28 | 3 | -92 | -209 | -97 | 1 | -40 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 14% | 0% | 0% | 2,084% | 32% |
| Net Profit | 241 | 29 | 93 | 63 | -37 | -28 | 3 | -105 | -209 | -97 | -12 | -53 |
| EPS in Rs | 5.15 | 0.63 | 1.99 | 1.35 | -0.79 | -0.60 | 0.07 | -2.24 | -4.45 | -2.06 | -0.25 | -1.13 |
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,062 | 2,302 | 3,242 | 1,843 | 1,238 | 1,383 | 1,879 | 2,638 | 4,188 | 6,061 | 5,173 | 5,185 |
| Expenses | 1,576 | 1,909 | 3,146 | 2,295 | 1,639 | 1,342 | 1,878 | 2,683 | 3,800 | 5,588 | 5,081 | 5,008 |
| Operating Profit | 486 | 393 | 96 | -452 | -401 | 41 | 2 | -44 | 388 | 473 | 92 | 177 |
| OPM % | 24% | 17% | 3.0% | -25% | -32% | 3.0% | 0.1% | -1.7% | 9% | 8% | 1.8% | 3.4% |
| Other Income | 65 | 74 | -189 | -19 | -226 | -250 | -2,829 | 26 | 326 | 22 | 38 | 29 |
| Interest | 135 | 253 | 683 | 1,083 | 1,141 | 1,195 | 448 | 255 | 276 | 271 | 286 | 299 |
| Depreciation | 100 | 144 | 288 | 364 | 360 | 355 | 278 | 219 | 228 | 223 | 243 | 254 |
| Profit before tax | 315 | 70 | -1,063 | -1,918 | -2,127 | -1,759 | -3,552 | -492 | 210 | 1 | -398 | -346 |
| Tax % | 29% | 47% | -18% | -0% | 0% | 0% | 0% | 0% | 0% | 0% | 8% | |
| Net Profit | 223 | 37 | -869 | -1,917 | -2,132 | -1,759 | -3,552 | -492 | 210 | 1 | -430 | -371 |
| EPS in Rs | 34.87 | 5.63 | -130.23 | -94.97 | -106.05 | -87.57 | -75.66 | -10.48 | 4.48 | 0.03 | -9.16 | -7.89 |
| Dividend Payout % | 3% | 18% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 10% | 30% | 25% | -17% | ||
| Compounded Profit Growth | % | 11% | 4% | -128% | ||
| Stock Price CAGR | 6% | 3% | 0% | % | ||
| Return on Equity | % | % | -21% | -46% |
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 64 | 64 | 66 | 66 | 201 | 201 | 201 | 470 | 470 | 470 | 470 | 996 |
| Reserves | 2,363 | 2,579 | 2,711 | 1,826 | 213 | -1,802 | -3,478 | 698 | 177 | 398 | 397 | -3 |
| Borrowings | 5,759 | 8,791 | 10,912 | 12,675 | 11,928 | 12,262 | 8,801 | 3,001 | 3,477 | 3,096 | 3,225 | 3,188 |
| Other Liabilities | 682 | 1,338 | 1,759 | 1,920 | 2,758 | 3,113 | 2,785 | 590 | 677 | 1,035 | 1,094 | 1,560 |
| Total Liabilities | 8,869 | 12,773 | 15,448 | 16,486 | 15,099 | 13,773 | 8,309 | 4,759 | 4,801 | 4,998 | 5,186 | 5,740 |
| Fixed Assets | 1,699 | 1,704 | 4,918 | 7,521 | 6,909 | 6,581 | 6,194 | 3,378 | 3,254 | 3,168 | 3,069 | 3,072 |
| CWIP | 3,648 | 7,189 | 6,794 | 5,683 | 5,761 | 5,587 | 168 | 182 | 238 | 175 | 167 | 37 |
| Investments | 109 | 272 | 101 | 94 | 324 | 46 | 572 | 1 | 1 | 1 | 2 | 1 |
| Other Assets | 3,413 | 3,608 | 3,635 | 3,188 | 2,105 | 1,559 | 1,374 | 1,197 | 1,309 | 1,653 | 1,948 | 2,629 |
| Total Assets | 8,869 | 12,773 | 15,448 | 16,486 | 15,099 | 13,773 | 8,309 | 4,759 | 4,801 | 4,998 | 5,186 | 5,740 |
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 459 | 809 | 59 | 1,659 | 1,117 | 292 | -16 | -194 | -196 | 406 | 276 | -71 |
| Cash from Investing Activity | -2,545 | -3,796 | -2,749 | -1,747 | -121 | 489 | -18 | 612 | -118 | -81 | -114 | -129 |
| Cash from Financing Activity | 2,217 | 2,866 | 2,002 | 221 | -1,113 | -799 | 47 | -344 | 185 | -348 | -116 | 235 |
| Net Cash Flow | 131 | -121 | -688 | 134 | -117 | -19 | 13 | 74 | -130 | -22 | 46 | 35 |
| Free Cash Flow | -2,150 | -2,838 | -2,736 | -119 | 948 | 434 | -30 | -271 | -325 | 313 | 131 | -222 |
| CFO/OP | 108% | 166% | 25% | 1,738% | -247% | -73% | -38% | -11,734% | 440% | 105% | 60% | -68% |
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 55 | 73 | 66 | 50 | 23 | 29 | 16 | 6 | 7 | 16 | 15 | 45 |
| Inventory Days | 189 | 251 | 276 | 163 | 139 | 136 | 109 | 182 | 114 | 94 | 117 | |
| Days Payable | 29 | 28 | 62 | 67 | 68 | 54 | 37 | 99 | 96 | 72 | 121 | |
| Cash Conversion Cycle | 215 | 295 | 280 | 146 | 94 | 111 | 88 | 90 | 7 | 34 | 38 | 40 |
| Working Capital Days | -76 | -255 | -102 | -315 | -494 | -1,563 | -1,806 | 4 | -32 | 15 | 12 | -24 |
| ROCE % | 7% | 5% | 3% | -1% | -6% | -6% | -4% | -5% | -6% | 4% | 7% | -3% |
| Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 74.35% | 74.35% | 74.35% | 53.17% | 53.17% | 53.17% | 53.17% | 53.17% | 53.17% | 53.17% | 53.17% | 53.17% |
| FIIs | 0.00% | 0.00% | 0.00% | 2.52% | 1.57% | 1.24% | 1.25% | 1.57% | 2.98% | 5.53% | 7.67% | 8.92% |
| DIIs | 16.85% | 14.89% | 13.40% | 8.84% | 4.48% | 4.02% | 3.96% | 3.96% | 3.96% | 3.96% | 4.73% | 4.59% |
| Public | 8.79% | 10.76% | 12.25% | 35.47% | 40.78% | 41.57% | 41.62% | 41.30% | 39.88% | 37.33% | 34.42% | 33.34% |
| No. of Shareholders | 32,587 | 34,339 | 37,308 | 68,801 | 97,893 | 1,09,118 | 1,28,697 | 1,35,617 | 1,28,226 | 1,17,719 | 1,09,910 | 1,03,160 |
Fundamentals
Market Cap₹ 1,831 Cr.
Current Price₹ 39.0
Book Value₹ 21.1
ROCE-2.65 %
ROE-46.0 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-17%
Compounded Profit Growth (TTM)-128%
Consolidated figures.
Valuation
Market capRs 1,831 Cr
Enterprise valueRs 4,735 Cr
Price to book1.85x
Price to sales0.35x
EV / EBITDA22.96x
EV / sales0.91x
Earnings yield-20.24%
P/E, 3-year average511.07x
P/B, 3-year average1.58x
P/E, 5-year average511.07x
P/B, 5-year average1.24x
Profitability
Operating margin (excl. other income)1.78%
Operating margin (incl. other income)2.52%
EBITDA margin3.98%
Pre-tax margin-6.67%
Net profit margin-7.15%
Net margin, latest quarter-3.18%
ROE-46.25%
ROCE-2.71%
ROA-7.87%
ROE, 3-year average-6.09%
ROCE, 3-year average5.35%
ROA, 3-year average-1.18%
ROE, 5-year average52.87%
ROCE, 5-year average-10.74%
ROA, 5-year average-13.64%
ROIC (approx.)-1.31%
Tax rate-8.10%
Other income / net worth3.85%
Growth
Sales growth (latest year)-14.64%
Profit growth (latest year)-28958.39%
Sales CAGR, 3 years25.17%
Sales CAGR, 5 years30.19%
Sales growth QoQ1.65%
Sales growth YoY (latest quarter)0.70%
Per share
EPS (TTM)Rs -7.89
EPS (latest quarter)Rs -1.13
EPS, 3-year averageRs 2.26
EPS, 5-year averageRs -20.40
Book value per shareRs 21.13
Sales per shareRs 110.42
Cash flow per shareRs -1.51
Free cash flow per shareRs -4.73
Efficiency
Asset turnover0.90x
Fixed asset turnover1.68x
Inventory turnover3.43x
Inventory days106 days
Debtor days45 days
Debtors turnover8.16x
Creditor days121 days
Cash conversion cycle40 days
Working capital days-24 days
Leverage
Total debtRs 3,188 Cr
Cash and bankRs 284 Cr
Net debtRs 2,904 Cr
Debt to equity3.21x
Net debt / EBITDA14.08x
Interest coverage-0.16x
Owners' fund to total sources17.29%
Debt to assets55.54%
Cash flow
Cash from Operating Activity (latest year)Rs -71 Cr
Cash from Investing Activity (latest year)Rs -129 Cr
Cash from Financing Activity (latest year)Rs 235 Cr
Net Cash Flow (latest year)Rs 35 Cr
Free cash flow (latest year)Rs -222 Cr
FCFE (approx.: FCF + change in debt)Rs -260 Cr
Statement figures
Net sales (TTM)Rs 5,185 Cr
Net sales (latest year)Rs 5,173 Cr
Sales (latest quarter)Rs 1,676 Cr
Operating profit excl. other income (latest year)Rs 92 Cr
Operating profit (latest quarter)Rs 102 Cr
Other income (TTM)Rs 29 Cr
EBITDA (TTM)Rs 206 Cr
PBDT (TTM)Rs -92 Cr
Profit before tax (TTM)Rs -346 Cr
Tax (latest year)Rs 32 Cr
Net profit (TTM)Rs -371 Cr
Net profit (latest year)Rs -430 Cr
Net profit (latest quarter)Rs -53 Cr
Depreciation (TTM)Rs 254 Cr
Depreciation (latest quarter)Rs 68 Cr
Interest (TTM)Rs 299 Cr
Cost of goods sold (latest year)Rs 4,422 Cr
Total expenditure (latest year)Rs 5,081 Cr
Total income (latest year)Rs 5,211 Cr
Share capitalRs 996 Cr
ReservesRs -3 Cr
Shareholders' fundsRs 992 Cr
Total assetsRs 5,740 Cr
Net blockRs 3,072 Cr
Capital work in progressRs 37 Cr
InvestmentsRs 1 Cr
ReceivablesRs 634 Cr
InventoryRs 1,290 Cr
Other liabilitiesRs 1,560 Cr
Shares outstanding (crore)46.95
Ownership
Promoter holding53.17% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 1.85 is at the 78th percentile (median 1.58).
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.
| Period | JSWISPL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +2.4% | -2.8% | +5.1 pts |
| 1 month | +5.1% | -6.8% | +11.9 pts |
| 3 months | +21.9% | -7.6% | +29.5 pts |
| 6 months | +25.2% | +0.4% | +24.8 pts |
| 1 year | +37.3% | -9.9% | +47.2 pts |
| 2 years | +3.3% | -13.6% | +16.9 pts |
| 3 years | +186.8% | +14.2% | +172.6 pts |
Red flags
F-score 3 of 8| explain | Receivables outrunning sales Receivables grew 149% vs sales -15% in 2023 |
| look | Inventory outrunning sales Inventory grew 16% vs sales -15% in 2023 |
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 2023Sales ₹1,676 Cr +0.7% vs Jun 2022.
Net loss ₹53 Cr.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Welspun Corp Ltd | 74,969 | 32.5 | 22.9 % |
| APL Apollo Tubes Ltd | 60,768 | 49.4 | 31.8 % |
| Shyam Metalics & Energy Ltd | 29,979 | 26.7 | 13.0 % |
| Ratnamani Metals & Tubes Ltd | 19,859 | 45.3 | 17.9 % |
| Jindal Saw Ltd | 17,759 | 27.2 | 10.4 % |
| Usha Martin Ltd | 15,204 | 27.9 | 19.5 % |
| Godawari Power & Ispat Ltd | 14,902 | 18.2 | 20.5 % |
| Gallantt Ispat Ltd. | 13,007 | 29.8 | 18.2 % |
| Maharashtra Seamless Ltd | 9,672 | 13.1 | 14.3 % |
| Jayaswal Neco Industries Ltd | 8,997 | 15.7 | 20.7 % |
| Sunflag Iron & Steel Company Ltd | 8,368 | 39.4 | 4.07 % |
| Man Industries (India) Ltd | 7,198 | 35.2 | 16.2 % |
| Aeroflex Industries Ltd | 7,141 | 106 | 18.9 % |
| Technocraft Industries (India) Ltd | 6,635 | 19.5 | 16.3 % |
| Shivalik Bimetal Controls Ltd | 6,402 | 60.1 | 26.6 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2022-07-08 | Annual General Meeting | |
| 2021-09-20 | Annual General Meeting | |
| 2020-07-14 | Annual General Meeting | |
| 2019-07-10 | Annual General Meeting | |
| 2018-12-18 | Annual General Meeting |
No announcements in our files yet.
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.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of JSW Ispat Special Products Ltd(Merged)?
JSW Ispat Special Products Ltd(Merged) (JSWISPL) has a market capitalisation of Rs 1,831 Cr. at the 2023-08-09 close.
What were JSW Ispat Special Products Ltd(Merged)'s latest quarterly results?
In the Jun 2023 quarter, JSW Ispat Special Products Ltd(Merged) sales was Rs 1,676 Cr (+0.7% vs Jun 2022) with a net loss of Rs 53 Cr.