Jindal Stainless Limited
NSE: JSL · Iron & Steel · sector
₹688.85NSE close 2026-10-26
Key numbers
Market cap₹56,775 cr
Price₹688.85
52w high / low₹884 / ₹652
P/E17.0xSector median 16.4x
P/B2.7xSector median 2.1x
Book value₹257.9
Dividend yield0.43%Sector median 0.39%
ROE17.0%Sector median 9.1%
ROCE17.8%Sector median 10.1%
OPM12.4%Sector median 12.4%
Debt / equity0.33xSector median 0.35x
EV/EBITDA10.6xSector median 8.1x
Interest cover8.5x
Current ratio1.24x
Sales growth 3y+6.4%Sector median +1.5%
Profit growth 3y+14.7%Sector median +15.7%
PEG1.16x
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 14 companies in Iron & Steel (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹2,935 cr vs borrowings ₹7,342 cr (FY26): borrowings are higher by ₹4,406 cr.
- Borrowings rose in each of the last 3 years (₹3,871 cr → ₹7,342 cr).
- Operating profit covered interest 8.5x in the last 12 months.
- 0.60% of the promoters' shares are pledged (0.4% of all shares).
- Promoter holding rose by 1.32 percentage points in a year, to 62.55% (2026-09-30).
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 13% of net profit in the last 12 months.
- Dividend paid in 3 of the last 5 financial years.
- Price ₹688.85 on 2026-10-26: -22.1% from the 52-week high, +5.6% 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 ₹855.00 · low ₹512.60
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9,907 | 10,198 | 10,207 | 10,893 | 10,518 | 11,337 | 11,279 | 12,874 |
| EBITDA | 1,193 | 1,026 | 1,296 | 1,391 | 1,383 | 1,448 | 1,364 | 1,531 |
| OPM % | 12.0% | 10.1% | 12.7% | 12.8% | 13.2% | 12.8% | 12.1% | 11.9% |
| Other income | 99 | 94 | 69 | 90 | 102 | 91 | 118 | 134 |
| Net profit | 655 | 591 | 714 | 807 | 829 | 844 | 769 | 895 |
| EPS (₹) | 7.95 | 7.18 | 8.67 | 9.80 | 10.06 | 10.24 | 9.34 | 10.85 |
| Revenue YoY | +6.2% | +11.2% | +10.5% | +18.2% | ||||
| Profit YoY | +26.6% | +42.7% | +7.7% | +10.9% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 21,223 | 35,697 | 38,562 | 39,312 | 42,955 | 46,007 |
| EBITDA | 3,090 | 3,696 | 4,857 | 4,616 | 5,519 | 5,726 |
| Net profit | 1,881 | 2,114 | 2,713 | 2,505 | 3,193 | 3,336 |
| EPS (₹) | 37.81 | 25.68 | 32.95 | 30.42 | 38.76 | 40.49 |
| Revenue growth | +68.2% | +8.0% | +1.9% | +9.3% | +11.7% | |
| Profit growth | +12.4% | +28.3% | -7.7% | +27.5% | +20.6% | |
| Dividend / share (₹) | – | – | 3.50 | 3.00 | 3.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +6.4% | +28.7% | +11.7% |
| Net profit | +14.7% | +50.1% | +20.6% |
| EPS | +14.7% | +35.1% | – |
| Share price | – | +2.5% (2y) | -8.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 11,931 | 14,358 | 16,688 | 19,791 |
| Borrowings | – | 3,871 | 5,948 | 6,298 | 7,342 |
| Cash & equivalents | – | 1,232 | 2,332 | 2,274 | 2,935 |
| Total assets | – | 27,140 | 30,817 | 36,158 | 40,704 |
| Fixed assets | – | 8,546 | 11,395 | 12,433 | 15,545 |
| Capital work in progress | – | 761 | 1,085 | 1,770 | 1,790 |
| Investments | – | 112 | 38 | 328 | 366 |
| Receivables | – | 3,658 | 2,837 | 3,107 | 3,086 |
| Inventory | – | 8,394 | 7,932 | 9,700 | 9,508 |
| Payables | – | 7,821 | 6,926 | 9,140 | 8,266 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 1,083 | 3,096 | 4,818 | 4,718 | 3,395 |
| Cash from investing | -783 | -2,482 | -3,340 | -3,439 | -3,506 |
| Cash from financing | -163 | -386 | -829 | -1,882 | -112 |
| Capex | 765 | 1,656 | 1,475 | 1,885 | 2,658 |
| Free cash flow | 318 | 1,440 | 3,343 | 2,833 | 737 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 17.7% | 18.9% | 15.0% | 16.1% |
| ROCE % | – | 19.6% | 20.4% | 17.2% | 17.7% |
| Debtor days | – | 37 | 27 | 29 | 26 |
| Inventory days | – | 125 | 108 | 132 | 122 |
| Payable days | – | 117 | 95 | 124 | 106 |
| Cash conversion cycle (days) | – | 45 | 40 | 37 | 42 |
| Working capital days | – | 43 | 45 | 31 | 29 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 62.55% |
| FIIs | 20.07% |
| DIIs | 7.74% |
| of which Mutual funds | 4.01% |
| of which Insurance | 2.35% |
| Public (non-institutions) | 9.61% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 60.71% | 60.88% | 61.10% | 61.23% | 61.23% | 62.05% | 62.05% | 62.55% |
| Promoter group | % |
|---|---|
| JSL Overseas Holding Ltd | 17.63% |
| JSL Overseas Ltd | 12.28% |
| Virtuous Tradecorp Private Limited | 7.45% |
| Sun Investments Pvt Ltd | 3.33% |
| Jindal Equipment Leasing And Consultancy Services Limited | 2.05% |
| Jindal Strips Limited | 1.90% |
| Naveen Jindal | 1.78% |
| Vrindavan Services Private Limited | 1.77% |
| Hexa Securities And Finance Co Ltd | 1.76% |
| Jsl Limited | 1.69% |
| Mansarover Tradex Limited | 1.37% |
| Arti Jindal | 1.10% |
| Siddeshwari Tradex Private Limited | 0.99% |
| Gagan Trading Company Pvt Limited | 0.88% |
| Colorado Trading Co Pvt Ltd | 0.74% |
| Public holders above 1% | % |
|---|---|
| ELM Papark Fund Limited | 3.86% |
| Albula Investment Fund Ltd | 2.08% |
| Life Insurance Corporation of India | 1.59% |
| ICICI Prudential Midcap Fund | 1.33% |
2,03,646 shareholders. Pledged: 0.60% of promoter shares.
Peers in Iron & Steel
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | ₹3,07,440 cr | 12.4x | 3.1x | 27.6% | 21.2% | 25.8% | +3.8% | 0.22% |
| TATASTEEL | ₹2,11,990 cr | 19.2x | 2.1x | 11.4% | 12.1% | 14.6% | -1.6% | 2.12% |
| JINDALSTEL | ₹1,05,841 cr | 38.9x | 2.1x | 5.5% | 7.4% | 15.0% | +0.3% | 0.20% |
| SAIL | ₹70,136 cr | 16.4x | 1.2x | 7.2% | 8.0% | 11.3% | +2.0% | 0.94% |
| JSL | ₹56,775 cr | 17.0x | 2.7x | 17.0% | 17.8% | 12.4% | +6.4% | 0.43% |
| SARDAEN | ₹15,738 cr | 13.9x | 2.1x | 16.6% | 17.6% | 32.4% | +10.6% | 0.34% |
| NSLNISP | ₹11,300 cr | 124.4x | 0.9x | 0.6% | 3.3% | 10.8% | – | – |
| SANDUMA | ₹7,632 cr | 10.7x | 2.3x | 24.4% | 25.5% | 22.9% | – | 0.27% |
| JAIBALAJI | ₹5,738 cr | 39.8x | 2.5x | 6.6% | 10.1% | 6.0% | -1.9% | – |
| VISL | ₹5,238 cr | – | – | – | – | – | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-21 | Dividend | Dividend - Rs 3 Per Share |
| 2026-01-29 | Dividend | Interim Dividend - Re 1 Per Share |
| 2025-08-22 | Dividend | Dividend - Rs 2 Per Share |
| 2025-02-07 | Dividend | Interim Dividend - Re 1 Per Share |
| 2024-09-03 | Other | Annual General Meeting |
| 2024-08-30 | Dividend | Dividend - Rs 2 Per Share |
| 2023-10-27 | Dividend | Interim Dividend - Re 1 Per Share |
| 2023-09-15 | Dividend | Annual General Meeting/Dividend - Rs 1.50 Per Share |
| 2023-04-28 | Dividend | Special Interim Dividend - Re 1 Per Share |
| 2022-09-21 | Other | Annual General Meeting |
| 2021-09-08 | Other | Annual General Meeting |
| 2020-08-13 | Other | Annual General Meeting |
| 2019-08-21 | Other | Annual General Meeting |
| 2018-09-12 | Other | Annual General Meeting |
| 2017-09-13 | Other | Annual General Meeting |
| 2016-12-15 | Other | Annual General Meeting |
| 2015-12-11 | Other | Annual General Meeting |
| 2015-11-19 | Restructuring | Composite Scheme Of Arrangement |
| 2014-09-08 | Other | Annual General Meeting |
| 2013-09-16 | Other | Annual General Meeting |
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
- Manufacturing: Metal & Metal Products
| Sector | Commodities |
| Industry | Iron & Steel |
| Sub-industry | Iron & Steel |
| Symbol | JSL |
| BSE code | 532508 |
| ISIN | INE220G01021 |
| Face value | ₹2.0 |
| Incorporated | 1980-07-29 |
| Website | https://www.jindalstainless.com |
| Plants (India / abroad) | 4 / 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.