Jindal Saw Limited (JINDALSAW)

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Jindal Saw Limited (JINDALSAW) · mywealthgrid

About

Jindal Saw Limited manufactures iron and steel products, operating as a mid-cap player with ₹17,081 Cr market cap. The company achieved 27.29% one-year returns with regular dividend payouts, reflecting consistent cash generation.

Face value: ₹1

Market cap

₹17,286 Cr

P/E

26.5×

P/B

1.4×

Dividend yield

1.5%

ROE

8.1%

ROCE

11.4%

Debt / equity

0.37

OPM

12.4%

EPS (TTM)

₹10.2

Book value

₹196.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins deteriorated from 12.39% (Dec 2025) to 8.24% (Jun 2026) in six months — verify whether temporary cost pressures or structural demand weakness.
PE of 26.14 is elevated given ROE of 8.12% — verify margin recovery visibility before valuation compresses.
Recent margins of 8–10% fall well below 12.38% average — verify raw material cost trends and recovery path.
Steel sector commodity exposure: iron ore, coal, scrap price volatility — verify current levels and margin impact.

Generated analysis · source review pending

Growth drivers

Margin recovery from recent 8.24% back to 12.39% achieved in Dec 2025 — verify cost stabilization timeline.
Low D/E of 0.37 enables capex investment — verify capital spending plans in pipes and steel products.
Stable revenue of ₹3,700–4,900 Cr quarterly with dividend capacity — verify domestic infrastructure demand cycle.
Dec 2025 net profit of ₹247 Cr at 12.39% OPM shows recovery potential — verify sustainability in near-term quarters.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹270.3-2.7%1Y

Quick read

rule-based

Pros

+Profit CAGR of 214% over the last 5 years
+Revenue CAGR of 178.6% over the last 5 years
+Dividend payout of 39.1% of profit
+High promoter holding of 63.3% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

41/100

Business quality: 30
Growth: 25
Valuation: 68

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Welspun Corp LimitedWELCORPWELCORP	₹68,741 Cr	₹70,904 Cr	₹17,300 Cr	₹2,403 Cr	13.3%	₹2,309 Cr	9.7%	19.2%	19.4%	85
Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO	₹58,753 Cr	₹59,205 Cr	₹22,897 Cr	₹1,841 Cr	7.8%	₹1,229 Cr	5.2%	30.8%	25.3%	-12
Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL	₹29,244 Cr	₹30,225 Cr	₹19,574 Cr	₹2,519 Cr	12.6%	₹860 Cr	5.7%	13.5%	9.7%	8
Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI	₹18,362 Cr	₹18,666 Cr	₹4,314 Cr	₹732 Cr	16.9%	₹433 Cr	11.9%	17.8%	12.5%	210
Jindal Saw LimitedJINDALSAWJINDALSAW	₹17,286 Cr	₹21,976 Cr	₹18,263 Cr	₹1,941 Cr	12.4%	₹653 Cr	5.2%	11.4%	8.1%	159
Usha Martin LimitedUSHAMARTUSHAMART	₹14,982 Cr	₹15,128 Cr	₹3,837 Cr	₹768 Cr	19.1%	₹507 Cr	12.6%	20%	15.4%	190
Godawari Power And Ispat LimitedGPILGPIL	₹14,517 Cr	₹14,943 Cr	₹5,808 Cr	₹1,263 Cr	23.3%	₹808 Cr	14.9%	20.1%	14.9%	73
Gallantt Ispat LimitedGALLANTTGALLANTT	₹12,793 Cr	₹13,340 Cr	₹4,437 Cr	₹655 Cr	16.2%	₹436 Cr	11%	19.2%	15.7%	58
Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES	₹9,363 Cr	₹9,377 Cr	₹4,620 Cr	₹696 Cr	14.6%	₹737 Cr	15%	13.6%	10.6%	153
Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND	₹8,863 Cr	₹10,960 Cr	₹7,589 Cr	₹1,409 Cr	18.6%	₹564 Cr	6.5%	22.9%	17.8%	151
Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG	₹7,812 Cr	₹8,286 Cr	₹3,995 Cr	₹476 Cr	12.1%	₹206 Cr	5.1%	3.8%	2.3%	95
Man Industries (India) LimitedMANINDSMANINDS	₹6,912 Cr	₹7,411 Cr	₹3,875 Cr	₹532 Cr	12.3%	₹204 Cr	4.8%	18.4%	9.2%	114

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11,627	107	13,298	17,868	20,958	20,829	17,895
COGS	6,935	60	7,902	11,192	12,151	11,845	10,053
Gross profit	4,692	46	5,396	6,675	8,806	8,984	7,842
	3,170	34	3,994	5,010	5,486	5,528	5,608
	1,522	12	1,402	1,665	3,320	3,456	2,234
OPM %	13.1%	11.7%	10.5%	9.3%	15.8%	16.6%	12.5%
Depreciation	422	5	473	471	568	602	630
Interest	618	5	460	638	705	623	620
	-17	2	153	154	168	119	92
Profit before tax	467	5	621	710	2,216	2,349	1,076
Tax	5	2	246	267	623	891	150
Tax %	1.1%	34.5%	39.5%	37.6%	28.1%	37.9%	14%
	461	3	376	443	1,593	1,458	925
PAT margin %	4%	3.1%	2.8%	2.5%	7.6%	7%	5.2%
EPS (₹)	17.4	10	13	19.9	52.8	27.3	15.3
EPS adjusted (₹)	8.7	0.1	6.4	9.9	26.5	27.2	15.2
	11.5%	20%	15.4%	15.1%	7.6%	7.3%	13.1%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	61	64	64	64	64	64	64	64	64	64
Reserves	5,061	5,322	6,218	—	6,919	7,300	7,859	10,029	11,347	12,510
	6,979	5,500	5,317	—	4,617	5,492	4,922	5,761	4,859	4,691
	2,462	2,239	3,572	7,599	4,626	3,994	5,411	5,167	4,509	4,421
Total equity & liabilities	14,564	13,126	15,171	7,663	16,225	16,850	18,256	21,022	20,779	21,686
	7,977	7,455	7,163	7,491	7,316	7,357	7,372	8,853	9,341	10,409
CWIP	254	102	260	—	404	293	300	632	641	453
Investments	154	119	190	—	198	224	251	178	168	105
	6,179	5,450	7,558	172	8,308	8,977	10,334	11,359	10,629	10,720
Total assets	14,564	13,126	15,171	7,663	16,225	16,850	18,256	21,022	20,779	21,686

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2024 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Iron & Steel	20,835.29	2,834.37	—	4,170.5
Others	124	0.63	—	948.39

SegmentFigure

Iron & Steel · revenue

₹ crore by fiscal year

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.4%	43.5%	40.6%	37.4%	42%	43.1%	43.8%
EBITDA margin %	13.1%	11.7%	10.5%	9.3%	15.9%	16.5%	12.4%
EBIT margin %	9.5%	7.4%	7%	6.7%	13.1%	13.6%	8.9%
PAT margin %	4%	3.1%	2.8%	2.5%	7.6%	7%	5.2%
Working capital
Receivable days	—	7,274	50	73	60	62	63
Inventory days	—	17,672	173	134	147	152	191
Payable days	—	11,727	71	98	89	78	95
NWC days	—	13,219	152	109	119	136	159
Leverage
Current ratio	—	1.06	1.02	1.11	1.24	1.45	1.61
Debt to EBITDA	—	371.43	3.92	2.96	1.73	1.42	2.12
Debt to equity	—	0.66	0.75	0.62	0.57	0.43	0.37
Interest coverage	2	2	2.4	2.2	4.1	4.7	2.7
Asset turnover	1.52	0.01	0.79	0.98	1	1	0.83
Return ratios
Return on assets %	6%	0%	2.2%	2.4%	7.6%	7%	4.3%
Return on capital employed %	—	0.1%	11%	13.8%	25.5%	22.2%	11.4%
Return on equity %	—	0%	5.1%	5.6%	15.8%	12.8%	7.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.26%	63.26%	63.27%	63.28%	63.28%	63.57%	63.28%	63.26%	63.25%	63.25%	63.25%	63.25%
	17.7%	15.22%	14.65%	15.06%	16.08%	15.8%	16.99%	15.12%	15.35%	14.1%	13.46%	13.08%
	1.67%	2.27%	3%	3.88%	4.54%	4.73%	4.4%	4.77%	4.36%	3.5%	5.8%	8.37%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	16.79%	18.68%	18.59%	17.32%	15.64%	15.9%	14.95%	16.48%	16.68%	18.79%	17.2%	15.05%
No. of shareholders	—	—	—	—	—	—	—	—	1,96,760	2,13,816	2,07,732	1,78,027

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 9 fund houses

Held by these funds

2.18%

of the company's equity

All mutual funds

6.59%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

33 schemes · 9 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	75.68 L	234.33	0.28%	1.183%	-0
Small Cap FundNEW	ICICI Prudential Mutual Fund	32.28 L	99.95	1.02%	0.505%	—
Energy Opportunities Fund	ICICI Prudential Mutual Fund	10.03 L	31.07	0.38%	0.157%	-0
Natural Resources & New Energy Fund	DSP Mutual Fund	5.32 L	16.47	0.64%	0.083%	-0
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	3.71 L	11.49	0.33%	0.058%	+4,538
Exports and Services Fund	ICICI Prudential Mutual Fund	3.44 L	10.65	0.69%	0.054%	-0
Multi Cap FundNEW	ICICI Prudential Mutual Fund	1.9 L	5.89	0.03%	0.03%	—
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	1.89 L	5.84	0.33%	0.029%	+2,108

1–8 of 33

1 / 5

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

18 announcementsExport CSV

29 Sept 2026, 2:51 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.4%	43.5%	40.6%	37.4%	42%	43.1%	43.8%
EBITDA margin %	13.1%	11.7%	10.5%	9.3%	15.9%	16.5%	12.4%
EBIT margin %	9.5%	7.4%	7%	6.7%	13.1%	13.6%	8.9%
PAT margin %	4%	3.1%	2.8%	2.5%	7.6%	7%	5.2%
Working capital
Receivable days	—	7,274	50	73	60	62	63
Inventory days	—	17,672	173	134	147	152	191
Payable days	—	11,727	71	98	89	78	95
NWC days	—	13,219	152	109	119	136	159
Leverage
Current ratio	—	1.06	1.02	1.11	1.24	1.45	1.61
Debt to EBITDA	—	371.43	3.92	2.96	1.73	1.42	2.12
Debt to equity	—	0.66	0.75	0.62	0.57	0.43	0.37
Interest coverage	2	2	2.4	2.2	4.1	4.7	2.7
Asset turnover	1.52	0.01	0.79	0.98	1	1	0.83
Return ratios
Return on assets %	6%	0%	2.2%	2.4%	7.6%	7%	4.3%
Return on capital employed %	—	0.1%	11%	13.8%	25.5%	22.2%	11.4%
Return on equity %	—	0%	5.1%	5.6%	15.8%	12.8%	7.4%

48 deals · 6 Mar 2023 – 12 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
12 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	48,30,502	₹201.31	₹97.24 Cr
12 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	48,30,502	₹201.40	₹97.29 Cr
12 Mar 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	45,53,769	₹200.69	₹91.39 Cr
12 Mar 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	45,52,130	₹200.80	₹91.41 Cr
11 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	48,26,758	₹190.09	₹91.75 Cr
11 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	48,26,758	₹190.01	₹91.71 Cr
20 Jan 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	32,56,268	₹185.81	₹60.50 Cr
20 Jan 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	32,56,268	₹185.73	₹60.48 Cr
19 Jan 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	56,98,587	₹176.43	₹100.54 Cr
19 Jan 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	56,98,587	₹176.51	₹100.59 Cr

1–10 of 48

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
29 Sept 2026, 2:51 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
21 Sept 2026, 2:50 pm	Company Update General	Affirmation Of Credit Ratings	PDF
26 Aug 2026, 12:58 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
24 Aug 2026, 5:18 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
23 Jul 2026, 4:22 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
22 Jul 2026, 11:21 am	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
17 Jul 2026, 5:37 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
17 Jul 2026, 4:51 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	917	1,163	565	1,567	1,665	16	73	1,617	2,593	2,335	1,771
	-498	-426	-120	-516	-469	-3	-191	-70	-1,917	-899	-955
	-512	-816	-470	-977	-1,168	-8	61	-1,968	-12	-1,524	-1,073
Net cash flow	-93	-79	-25	74	28	4	-57	-421	663	-87	-257
Free cash flow	402	871	291	1,049	1,093	12	-380	1,295	1,730	1,304	695
CFO / Operating profit %	—	—	—	—	109.3%	125.3%	5.2%	97.1%	78.1%	68.1%	80%

Jindal Saw Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Iron & Steel · revenue

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

19

1

2

Segment results

Iron & Steel · revenue

Compounded sales growth

Compounded profit growth

Return on equity

Jindal Saw Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Iron & Steel · revenue

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends19

Board meetings1

Stock splits2

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Iron & Steel · revenue

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

19

1

2