Overview

Detailed Summary

Jindal Steel Limited is a major Indian integrated primary steel producer with extensive manufacturing and mining operations. It is part of the O.P. Jindal Group, offering a diverse product portfolio including TMT bars, plates, coils, and more.
The company is undergoing significant capacity expansion, particularly at its Angul facility, with targets to increase output across iron-making, steel, and finished steel capacities, highlighting a strategic growth focus.
Jindal Steel is embedding AI across its operations to enhance productivity and decision-making, signifying a major technological upgrade in its operational processes.
Despite market challenges, Jindal Steel reported record production and sales volumes in Q3FY26, showing resilience and effective management of its operational capacities.
The company maintains a strong balance sheet with strategic investments in renewable energy and sustainability initiatives, aiming for a positive social and environmental impact.

Sector: Ferrous Metals
Industry: Iron & Steel
Market Cap: 1,17,351 Cr
Volatility: High Risk
P/E Ratio: 34.9
Industry P/E: 26.2
PEG Ratio: 0.6
P/B Ratio: 2.3
52W High: 1,306.00
52W Low: 883.00

Sales CAGR

1Y: -0.45%
3Y: 1.18%
5Y: 13.70%
10Y: 15.40%

Profit CAGR

1Y: -52.12%
3Y: -24.10%
5Y: 42.44%
10Y: —

ROE

TTM: 7.92%
3Y: 9.09%
5Y: 10.70%
10Y: 3.61%

ROCE

TTM: 9.15%
3Y: 10.28%
5Y: 14.47%
10Y: 7.65%

Technicals

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Forecasts

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Peers

Commodities Metals & Mining Ferrous Metals Iron & Steel

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
JINDALSTEL		1149.95	1,17,351 Cr	34.85	2.31	0.17	7.92	9.15	3.44
SAIL		185.90	76,786 Cr	22.77	1.27	1.26	6.35	7.76	2.48
JSL		669.00	54,906 Cr	17.19	2.77	0.60	16.14	17.44	7.82
SARDAEN		532.60	18,768 Cr	16.97	2.55	0.38	15.00	16.80	9.35
NSLNISP		49.29	14,445 Cr	246.00	1.10	0.00	0.45	3.16	0.21
JAIBALAJI		66.74	6,089 Cr	20.79	2.74	0.00	13.18	17.56	7.43
PRAKASH		142.00	2,545 Cr	7.64	0.71	1.27	9.28	9.13	7.01
Median: 7 Co.	—	185.90	18,768 Cr	20.79	2.31	0.38	9.28	9.15	7.01

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	11,701	13,487	13,618	11,213	11,751	13,183	12,294	11,686	13,027	16,218
Expenses	8,859	11,042	10,779	9,013	9,567	10,912	9,289	9,605	11,393	13,279
Operating Profit	2,843	2,444	2,839	2,200	2,184	2,271	3,006	2,081	1,634	2,939
OPM %	24.29	18.12	20.85	19.62	18.58	17.22	24.45	17.81	12.54	18.12
Other Income	35	35	34	35	26	-1,167	30	22	-50	-561
Interest	315	321	332	326	313	342	297	371	406	442
Depreciation	636	995	683	696	698	691	722	750	839	862
Profit Before Tax	1,927	1,164	1,859	1,213	1,199	72	2,018	982	339	1,074
Tax %	-0.05	19.77	28.03	29.08	20.72	522.77	25.86	35.34	44.35	3.06
Net Profit	1,928	933	1,338	860	951	-304	1,496	635	189	1,041
EPS in Rs	19.21	9.34	13.31	8.49	9.39	-3.35	14.73	6.28	1.88	10.30

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	22,696	28,431	43,602	40,813	38,322	56,921	61,005	58,286	58,240	48,442
Expenses	16,392	21,504	31,114	29,159	21,488	35,652	43,277	40,154	40,634	38,781
Operating Profit	6,304	6,927	12,488	11,654	16,834	21,268	17,728	18,132	17,606	9,660
OPM %	27.77	24.36	28.64	28.56	43.93	37.37	29.06	31.11	30.23	19.94
Other Income	-362	-584	-1,463	-83	328	-356	-1,313	157	-1,071	-1,075
Interest	3,390	3,866	4,264	4,149	2,753	1,888	1,446	1,294	1,312	1,277
Depreciation	3,949	3,883	5,480	3,867	2,414	2,097	2,691	2,822	2,768	2,806
Profit Before Tax	-3,043	-1,864	-2,802	-246	8,252	11,173	4,485	6,241	4,344	4,502
Tax %	16.52	12.86	13.93	-62.59	21.94	26.18	28.81	4.77	34.48	33.29
Net Profit	-2,540	-1,624	-2,412	-400	6,441	8,248	3,193	5,943	2,846	3,004
EPS in Rs	-22.89	-13.98	-16.52	-1.11	35.55	56.39	31.48	59.15	27.84	33.19
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	5.32	6.34	3.38	7.19	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	91	92	97	97	102	102	101	101	100	101
Reserves	32,345	29,959	30,288	31,988	32,035	31,713	35,524	38,606	44,216	47,084
Borrowings	44,132	39,958	39,199	34,766	30,675	29,910	13,502	13,046	16,472	18,406
Other Liabilities	15,830	20,589	19,647	22,150	26,929	16,116	27,517	17,689	17,927	20,248
Total Liabilities	92,398	90,598	89,230	89,001	89,742	77,840	76,644	69,442	78,715	85,839
Fixed Assets	65,038	65,900	68,444	69,033	69,381	54,349	45,488	43,542	48,384	48,989
CWIP	11,827	9,716	4,978	4,027	3,126	1,712	2,538	7,870	9,611	16,725
Investments	392	400	152	156	181	1,156	470	907	819	2,201
Other Assets	15,142	14,582	15,657	15,784	17,055	20,624	28,147	17,123	19,901	17,925
Total Assets	92,398	90,598	89,230	89,001	89,742	77,840	76,644	69,442	78,715	85,839

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	4,333	6,799	7,724	9,027	9,526	11,961	16,048	7,347	6,008	10,824
Cash from Investing Activity	-2,262	-1,998	-1,431	-832	-1,600	-1,884	-2,331	-4,090	-8,344	-12,323
Cash from Financing Activity	-2,672	-5,057	-6,276	-8,261	-7,562	-4,612	-15,120	-2,500	1,381	809
Net Cash Flow	-601	-256	17	-67	365	5,465	-1,403	757	-955	-689

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	62.11%	62.11%	62.27%	62.27%	61.69%	61.69%	61.69%	62.73%	62.52%	62.53%	62.85%	62.85%
FIIs	12.91%	12.41%	11.95%	12.14%	12.74%	12.29%	11.08%	9.66%	9.79%	9.45%	9.04%	9.22%
DIIs	14.97%	15.44%	15.60%	14.99%	15.46%	16.19%	17.40%	17.87%	18.14%	18.79%	19.14%	19.18%
Public	10.01%	10.03%	10.18%	10.60%	10.11%	9.84%	9.83%	9.74%	9.56%	9.24%	8.96%	8.75%
Total Shareholders	2,30,774	2,38,054	2,50,732	2,59,991	2,80,533	2,87,902	2,98,258	3,05,285	3,02,190	2,90,386	2,82,086	2,71,333

Market Transactions

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Projection

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Available on Pro Plan