Jindal Steel Ltd

JINDALSTEL

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Market Cap

₹ 1,05,370 Cr

P/E

29.30

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

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Overview

Detailed Summary

Jindal Steel Limited is one of India's integrated primary steel producers and operates several manufacturing units across India, with significant investments in mining and power generation.

The company recently achieved significant expansion milestones, commissioning major facilities at Angul, doubling its hot metal capacity and expanding crude steel capacity, indicating robust growth intent.

Deployment of AI and IoT technologies highlights Jindal Steel's focus on innovation to streamline operations—enhancing safety and efficiency through predictive models and smart equipment management.

Despite global steel price pressures due to increased Chinese exports, Jindal Steel leverages strategic operations and expansions to maintain competitive positioning and mitigate external market risks.

Management's commitment to maintaining a strong balance sheet is evident through active debt management strategies, including reducing net debt and strict adherence to debt-to-EBITDA ratios.

Sector

Steel

Industry

Steel - Large

Market Cap

1,05,370 Cr

Volatility

High Risk

P/E Ratio

29.3

Industry P/E

29.5

PEG Ratio

0.7

P/B Ratio

2.1

52W High

1,098.30

52W Low

723.95

Sales CAGR

-0.45%

1.18%

13.70%

10Y

15.40%

Profit CAGR

-52.12%

-24.10%

42.44%

10Y

—

ROE

TTM

7.25%

9.09%

10.70%

10Y

3.61%

ROCE

TTM

9.83%

10.28%

14.47%

10Y

7.74%

Technicals

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Forecasts

No. of Analysts

31

1Y Price Target

1146.90 ▲ 13.36%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
JINDALSTEL	1011.75	1,05,370 Cr	29.30	2.12	0.19	7.25	9.83	3.03
JSL	795.50	65,727 Cr	23.82	3.64	0.38	15.30	16.86	7.08
SAIL	129.80	54,647 Cr	19.63	0.94	1.21	4.39	6.31	1.91
TIINDIA	2618.00	51,247 Cr	81.41	6.82	0.13	8.32	16.22	5.14
APLAPOLLO	1739.00	48,295 Cr	46.04	10.49	0.33	22.77	26.82	12.62
SHYAMMETL	807.50	22,565 Cr	23.26	2.05	0.55	8.81	12.03	5.41
WELCORP	806.00	21,007 Cr	11.85	2.56	0.62	21.64	24.62	13.08

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	12,588	12,250	11,701	13,487	13,618	11,213	11,751	13,183	12,294	11,686
Expenses	9,960	9,964	8,859	11,042	10,779	9,013	9,567	10,912	9,289	9,605
Operating Profit	2,628	2,286	2,843	2,444	2,839	2,200	2,184	2,271	3,006	2,081
OPM %	20.88	18.66	24.29	18.12	20.85	19.62	18.58	17.22	24.45	17.81
Other Income	55	32	35	35	34	35	26	-1,167	30	22
Interest	329	329	315	321	332	326	313	342	297	371
Depreciation	588	604	636	995	683	696	698	691	722	750
Profit Before Tax	1,767	1,384	1,927	1,164	1,859	1,213	1,199	72	2,018	982
Tax %	4.23	-0.42	-0.05	19.77	28.03	29.08	20.72	522.77	25.86	35.34
Net Profit	1,692	1,390	1,928	933	1,338	860	951	-304	1,496	635
EPS in Rs	16.79	13.81	19.21	9.34	13.31	8.49	9.39	-3.35	14.73	6.28

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	27.05
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

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	62.11%	62.11%	62.11%	62.11%	62.27%	62.27%	61.69%	61.69%	61.69%	62.73%	62.52%	62.53%
FIIs	13.32%	13.62%	12.91%	12.41%	11.95%	12.14%	12.74%	12.29%	11.08%	9.66%	9.79%	9.45%
DIIs	14.39%	14.11%	14.97%	15.44%	15.60%	14.99%	15.46%	16.19%	17.40%	17.87%	18.14%	18.79%
Public	10.17%	10.15%	10.01%	10.03%	10.18%	10.60%	10.11%	9.84%	9.83%	9.74%	9.56%	9.24%
Total Shareholders	2,36,438	2,35,473	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

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 12, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	1,007.96	24.53 Cr	2,43,346	0.02
Dec 11, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	994.81	26.65 Cr	2,67,899	0.02
Dec 11, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	1,001.56	28.10 Cr	2,80,563	0.02
Dec 11, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	989.95	1.04 Cr	10,500	0.00
Dec 08, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	1,005.63	4.20 Cr	41,787	0.00
Dec 08, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	1,017.41	6.25 Cr	61,399	0.00
Dec 08, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	1,036.46	14.99 Cr	1,44,611	0.01
Dec 03, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	1,042.01	12.34 Cr	1,18,448	0.01
Dec 03, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	1,037.02	13.92 Cr	1,34,263	0.01
Nov 27, 2025	Jindal cement industries priv...	Insider - Promoter Group	Acquisition	1,019.64	9.30 Cr	91,212	0.00

Projection

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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

3 days ago

Disclosure of Substantial Acquisition

The announcement details a disclosure under Regulation 29(2) of SEBI regarding Jindal Cement Industries Pvt Ltd's acquisition of shares in Jindal Steel Limited.

Regulatory Filing

4 days ago

Disclosure of Share Acquisition by Jindal Cement

Regulatory disclosure provided regarding the acquisition of shares of Jindal Steel Limited by Jindal Cement Industries under SEBI regulations.

Regulatory Filing

5 days ago

GST Demand Order Received by Jindal Steel Ltd

Jindal Steel Ltd has received a GST Demand Order for alleged excess GST Input Tax Credit during FY 2018-19 to FY 2022-23, amounting to approximately Rs. 6.5 crore, and intends to appeal this decision.

Regulatory Filing

5 days ago

Disclosure of Share Acquisition by Jindal Cement Industries

Jindal Cement Industries Pvt Ltd disclosed a substantial acquisition of shares in Jindal Steel Limited under SEBI regulations.

Regulatory Filing

6 days ago

Disclosure of Share Acquisition by Jindal Cement Industries

The announcement pertains to the disclosure filed under Regulation 29(2) of SEBI Regulations regarding the acquisition of shares in Jindal Steel Limited by Jindal Cement Industries Pvt Ltd.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q1 FY25

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Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	12,588	12,250	11,701	13,487	13,618	11,213	11,751	13,183	12,294	11,686
Expenses	9,960	9,964	8,859	11,042	10,779	9,013	9,567	10,912	9,289	9,605
Operating Profit	2,628	2,286	2,843	2,444	2,839	2,200	2,184	2,271	3,006	2,081
OPM %	20.88	18.66	24.29	18.12	20.85	19.62	18.58	17.22	24.45	17.81
Other Income	55	32	35	35	34	35	26	-1,167	30	22
Interest	329	329	315	321	332	326	313	342	297	371
Depreciation	588	604	636	995	683	696	698	691	722	750
Profit Before Tax	1,767	1,384	1,927	1,164	1,859	1,213	1,199	72	2,018	982
Tax %	4.23	-0.42	-0.05	19.77	28.03	29.08	20.72	522.77	25.86	35.34
Net Profit	1,692	1,390	1,928	933	1,338	860	951	-304	1,496	635
EPS in Rs	16.79	13.81	19.21	9.34	13.31	8.49	9.39	-3.35	14.73	6.28

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	27.05
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

Jindalstel

Jindal Steel Ltd

JINDALSTEL

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

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Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

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Oscillators

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Overall

Bearish

Moving Averages

Bearish

Overall

Bearish