Jindal SAW Limited
NSE: JINDALSAW · Iron & Steel Products · sector
₹231.80NSE close 2026-10-26
Key numbers
Market cap₹14,824 cr
Price₹231.80
52w high / low₹320 / ₹153
P/E26.9xSector median 15.5x
P/B1.2xSector median 1.7x
Book value₹197.2
Dividend yield0.86%Sector median 0.60%
ROE4.4%Sector median 11.1%
ROCE7.2%Sector median 11.9%
OPM9.5%Sector median 6.7%
Debt / equity0.33xSector median 0.21x
EV/EBITDA10.6xSector median 11.8x
Interest cover2.3x
Current ratio1.63x
Sales growth 3y+0.1%Sector median +2.1%
Profit growth 3y+15.5%Sector median +13.0%
PEG1.76x
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 118 companies in Iron & Steel Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹555 cr vs borrowings ₹4,691 cr (FY26): borrowings are higher by ₹4,135 cr.
- Operating profit covered interest 2.3x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 21% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹231.80 on 2026-10-26: -27.6% from the 52-week high, +51.5% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹365.35 · low ₹158.44
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,271 | 5,047 | 4,085 | 4,234 | 4,943 | 4,633 | 4,452 | 4,472 |
| EBITDA | 939 | 736 | 670 | 451 | 613 | 481 | 397 | 261 |
| OPM % | 17.8% | 14.6% | 16.4% | 10.7% | 12.4% | 10.4% | 8.9% | 5.8% |
| Other income | 22 | 21 | 18 | 30 | 20 | 23 | 24 | 51 |
| Net profit | 506 | 291 | 424 | 152 | 258 | 139 | 104 | 47 |
| EPS (₹) | 7.96 | 4.58 | 6.66 | 2.38 | 4.05 | 2.19 | 1.63 | 0.74 |
| Revenue YoY | -6.2% | -8.2% | +9.0% | +5.6% | ||||
| Profit YoY | -49.1% | -52.1% | -75.4% | -69.0% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 13,298 | 17,868 | 20,958 | 20,829 | 17,895 | 18,501 |
| EBITDA | 1,402 | 1,640 | 3,321 | 3,429 | 2,215 | 1,751 |
| Net profit | 412 | 632 | 1,691 | 1,738 | 973 | 549 |
| EPS (₹) | 6.48 | 9.96 | 26.38 | 27.31 | 15.27 | 8.61 |
| Revenue growth | +34.4% | +17.3% | -0.6% | -14.1% | -0.7% | |
| Profit growth | +53.6% | +167.4% | +2.8% | -44.0% | -60.1% | |
| Dividend / share (₹) | 2.00 | 2.00 | 3.00 | 4.00 | 2.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +0.1% | +178.6% | -0.7% |
| Net profit | +15.5% | +214.0% | -60.1% |
| EPS | +15.3% | +25.0% | – |
| Share price | – | -11.3% (2y) | +41.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 7,923 | 10,093 | 11,411 | 12,574 |
| Borrowings | – | 4,922 | 5,761 | 4,859 | 4,691 |
| Cash & equivalents | – | 218 | 898 | 772 | 555 |
| Total assets | – | 18,256 | 21,022 | 20,779 | 21,686 |
| Fixed assets | – | 7,364 | 8,786 | 9,275 | 10,344 |
| Capital work in progress | – | 300 | 632 | 641 | 453 |
| Investments | – | 246 | 174 | 126 | 31 |
| Receivables | – | 3,563 | 3,470 | 3,564 | 3,094 |
| Inventory | – | 4,105 | 4,895 | 4,921 | 5,267 |
| Payables | – | 3,005 | 2,953 | 2,522 | 2,623 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 73 | 1,617 | 2,593 | 2,335 | 1,771 |
| Cash from investing | -191 | -70 | -1,917 | -899 | -955 |
| Cash from financing | 61 | -1,968 | -12 | -1,524 | -1,073 |
| Capex | 453 | 322 | 863 | 1,031 | 1,076 |
| Free cash flow | -380 | 1,295 | 1,730 | 1,304 | 695 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 8.0% | 16.8% | 15.2% | 7.7% |
| ROCE % | – | 10.5% | 18.4% | 18.1% | 9.7% |
| Debtor days | – | 73 | 60 | 62 | 63 |
| Inventory days | – | 134 | 147 | 152 | 191 |
| Payable days | – | 98 | 89 | 78 | 95 |
| Cash conversion cycle (days) | – | 109 | 118 | 136 | 159 |
| Working capital days | – | 18 | 34 | 55 | 77 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 63.24% |
| FIIs | 11.32% |
| DIIs | 10.89% |
| of which Mutual funds | 8.32% |
| of which Insurance | 2.02% |
| Public (non-institutions) | 14.29% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 63.28% | 63.28% | 63.26% | 63.25% | 63.25% | 63.25% | 63.25% | 63.24% |
| Promoter group | % |
|---|---|
| Nalwa Sons Investments Limited | 16.75% |
| Four Seasons Investments Limited | 13.61% |
| Siddeshwari Tradex Private Limited | 11.69% |
| Kapeesh Investments Limited | 9.42% |
| OPJ Trading Private Limited | 2.43% |
| Virtuous Tradecorp Private Limited | 2.01% |
| Divino Multiventures Private Limited | 1.67% |
| PRJ Family Management Company Private Limited AS Trustee of PRJ Holdings Private Trust | 1.27% |
| JSL Limited | 0.65% |
| Estrela Investment Company Limited | 0.59% |
| Templar Investments Limited | 0.58% |
| Mendeza Holdings Limited | 0.57% |
| Nacho Investments Limited | 0.57% |
| Deepika Jindal | 0.49% |
| Shraddha Prithvi RJ | 0.25% |
| Public holders above 1% | % |
|---|---|
| Mahindra Manulife Multi CAP Fund | 1.95% |
| HSBC Mutual Fund - HSBC Value Fund | 1.92% |
| Theleme India Master Fund Limited | 1.73% |
| SBI Life Insurance Co. Ltd | 1.69% |
| Nippon Life India Trustee Ltd-a/c Nippon Indi | 1.24% |
| Canara Robeco Mutual Fund A/C Canara Robeco S | 1.16% |
1,66,662 shareholders. Pledged: 0.00% of promoter shares.
Peers in Iron & Steel Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| WELCORP | ₹61,798 cr | 26.7x | 6.8x | 27.8% | 19.2% | 13.9% | +19.8% | 0.21% |
| APLAPOLLO | ₹57,703 cr | 46.9x | 10.9x | 25.9% | 30.1% | 8.0% | +12.6% | 0.28% |
| SHYAMMETL | ₹31,351 cr | 28.0x | 2.7x | 7.8% | 14.2% | 12.9% | +13.7% | 0.36% |
| RATNAMANI | ₹16,345 cr | 37.8x | 4.0x | 11.2% | 15.7% | 16.7% | +0.1% | 0.60% |
| JINDALSAW | ₹14,824 cr | 26.9x | 1.2x | 4.4% | 7.2% | 9.5% | +0.1% | 0.86% |
| USHAMART | ₹14,192 cr | 27.9x | 4.3x | 16.8% | 20.1% | 19.6% | +4.1% | 0.64% |
| GALLANTT | ₹12,989 cr | 31.9x | 3.7x | 12.4% | 14.2% | 13.8% | +3.1% | 0.08% |
| GPIL | ₹11,769 cr | 14.6x | 2.0x | 15.1% | 18.7% | 21.4% | -2.2% | 0.54% |
| JAYNECOIND | ₹8,607 cr | 12.5x | 2.6x | 23.4% | 25.6% | 18.9% | +4.0% | – |
| MAHSEAMLES | ₹7,148 cr | 9.7x | 1.0x | 11.2% | 14.2% | 15.0% | -6.5% | 1.87% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-05-22 | Dividend | Dividend - Rs 2 Per Share |
| 2025-06-05 | Dividend | Dividend - Rs 2 Per Share |
| 2024-11-29 | Other | Extra Ordinary General Meeting |
| 2024-10-09 | Split | Face Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share |
| 2024-09-13 | Other | Extra Ordinary General Meeting |
| 2024-06-11 | Dividend | Annual General Meeting/Dividend - Rs 4 Per Share |
| 2023-06-13 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2022-09-19 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2021-07-08 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2020-09-17 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2019-08-29 | Dividend | Annual General Meeting/Dividend Rs 2 Per Sh |
| 2018-09-18 | Dividend | Annual General Meeting/Dividend- Rs 1.20 Per Share |
| 2017-09-15 | Dividend | Annual General Meeting/Dividend - Re 1/- Per Share |
| 2016-12-14 | Dividend | Annual General Meeting/Dividend Re 1/- Per Share |
| 2016-08-25 | Restructuring | Scheme Of Arrangement |
| 2015-09-10 | Dividend | Annual General Meeting/ Dividend - Re 1/- Per Share |
| 2014-09-05 | Dividend | Annual General Meeting / Dividend - Re 1/- Per Share |
| 2013-09-23 | Dividend | Annual General Meeting And Dividend Re.1/- Per Share |
| 2012-09-21 | Dividend | Annual General Meeting And Dividend - Re.1/- Per Share |
| 2011-11-22 | Restructuring | Scheme Of Arrangement |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Iron and steel products (Pipe and allied accessories): Manufacturing & sale
- Pellets: Manufacturing & sale
| Sector | Industrials |
| Industry | Iron & Steel Products |
| Sub-industry | Iron & Steel Products |
| Symbol | JINDALSAW |
| BSE code | 500378 |
| ISIN | INE324A01032 |
| Face value | ₹1.0 |
| Incorporated | 1984-10-31 |
| Website | www.jindalsaw.com |
| Plants (India / abroad) | 12 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.