JTL Industries Ltd

JTLIND

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Market Cap

₹ 2,326 Cr

P/E

29.27

Turned 1 L into 7.80 L in last 5 Years

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

JTL Industries Limited is a leading manufacturer of ERW black and hollow steel tubes and pipes, with a robust presence in India and international markets.

The company is strategically diversifying its product portfolio by entering into the high-demand brass foil market, targeting applications in defense and industrial sectors.

JTL is undertaking significant capacity expansions, notably at the Mangaon facility, to enhance its pipeline products and cater to the oil, gas, and water transmission sectors.

Despite a 21% decline in QoQ revenue for Q2 FY26, JTL achieved substantial QoQ growth in EBITDA (48%) and PAT (34%), indicating operational efficiencies and an improved product mix.

JTL Industries has a strong strategic focus on increasing its value-added product contribution, aiming to enhance its business margins and sustainable growth trajectory.

Sector

Steel

Industry

Steel - Tubes / Pipes

Market Cap

2,326 Cr

Volatility

High Risk

P/E Ratio

29.3

Industry P/E

26.1

PEG Ratio

0.7

P/B Ratio

1.9

52W High

112.07

52W Low

57.27

Sales CAGR

-6.10%

12.17%

52.76%

10Y

38.05%

Profit CAGR

-12.55%

17.40%

57.87%

10Y

63.07%

ROE

TTM

6.34%

12.57%

14.20%

10Y

14.65%

ROCE

TTM

8.12%

17.30%

19.85%

10Y

20.74%

Technicals

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

No. of Analysts

7

1Y Price Target

100.98 ▲ 64.33%

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 (%)
MANINDS	453.95	3,325 Cr	19.92	1.69	0.00	8.48	13.70	4.12
SAMBHV	95.50	2,807 Cr	30.63	2.87	0.00	9.37	15.26	6.02
VENUSPIPES	1262.50	2,571 Cr	27.78	4.09	0.08	15.21	18.80	7.87
JTLIND	61.45	2,326 Cr	29.27	1.86	0.21	6.34	8.12	5.23
HITECH	94.15	1,859 Cr	23.84	1.43	0.03	6.00	8.87	4.09
RAMASTEEL	10.13	1,749 Cr	89.08	3.75	0.00	4.09	6.26	2.16
DEEDEV	227.15	1,492 Cr	30.32	1.78	0.00	5.88	7.72	2.68

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	505	502	567	466	515	480	451	469	544	429
Expenses	469	465	525	429	476	450	416	452	520	395
Operating Profit	36	37	43	37	40	30	35	18	23	35
OPM %	7.04	7.45	7.49	7.88	7.70	6.22	7.78	3.80	4.30	8.07
Other Income	0.77	3.03	0.94	3.93	4.18	7.83	2.08	8.84	5.75	1.98
Interest	1.24	1.28	1.62	0.95	1.26	0.73	1.26	1.28	2.78	1.23
Depreciation	1.15	1.35	1.50	1.55	1.89	2.12	2.26	3.00	4.44	4.70
Profit Before Tax	34	38	40	38	41	35	34	22	22	31
Tax %	25.16	26.16	25.17	22.59	24.61	24.33	25.94	24.84	24.39	27.79
Net Profit	25	28	30	30	31	26	25	17	17	22
EPS in Rs	0.56	0.66	0.72	0.76	0.74	0.50	0.56	0.38	0.37	0.56

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	436	1,355	1,550	2,040	1,916	1,944
Expenses	403	1,266	1,421	1,888	1,793	1,838
Operating Profit	33	89	129	152	123	106
OPM %	7.52	6.60	8.35	7.46	6.42	5.46
Other Income	4.61	3.79	3.86	8.67	22	25
Interest	8.66	7.72	6.35	5.09	4.52	6.05
Depreciation	1.71	3.15	4.26	5.56	9.27	12
Profit Before Tax	27	82	123	150	132	113
Tax %	25.77	25.84	26.50	24.76	24.91	24.92
Net Profit	20	61	90	113	99	85
EPS in Rs	—	0.87	2.14	2.70	2.18	1.87
Dividend Payout %	52.91	0.00	4.31	3.83	5.43	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	11	13	17	35	39
Reserves	86	184	390	739	1,179
Borrowings	63	91	107	20	76
Other Liabilities	50	50	50	49	45
Total Liabilities	209	339	563	843	1,339
Fixed Assets	28	49	65	111	218
CWIP	0.00	3.40	4.40	6.00	66
Investments	0.01	12	16	5.80	10
Other Assets	181	275	478	720	1,044
Total Assets	209	339	563	843	1,339

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-4.96	17	3.97	-22	-246
Cash from Investing Activity	-7.57	-34	-20	-96	-188
Cash from Financing Activity	12	17	66	169	407
Net Cash Flow	-0.33	-0.20	50	51	-27

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Feb 2024	Mar 2024	Jun 2024	Jul 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	56.20%	55.78%	56.00%	54.13%	54.30%	54.24%	50.21%	48.91%	48.91%	48.91%	48.91%	48.91%
FIIs	0.71%	2.35%	1.62%	4.62%	4.48%	5.81%	10.06%	5.60%	5.00%	4.86%	2.81%	3.39%
DIIs	0.70%	1.07%	0.83%	0.11%	0.07%	0.30%	1.94%	1.64%	2.22%	3.04%	4.99%	2.21%
Public	42.39%	40.80%	41.55%	41.14%	41.16%	39.64%	37.79%	43.86%	43.88%	43.19%	43.29%	45.49%
Total Shareholders	15,796	25,432	42,550	60,892	72,461	77,343	74,637	82,672	90,341	85,300	85,584	86,034

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jul 24, 2025	Jindal oil and fats limited	Bulk	Buy	79.63	17.60 Cr	22,10,100	0.56
Jul 04, 2025	Jindal oil and fats limited	Bulk	Sell	75.45	14.71 Cr	19,50,000	0.49
Apr 09, 2024	Saroj gupta	Bulk	Buy	220.55	23.06 Cr	10,45,570	0.26
Apr 09, 2024	Saroj gupta	Bulk	Sell	220.79	23.77 Cr	10,76,570	0.27
Apr 08, 2024	Saroj gupta	Bulk	Buy	215.64	20.41 Cr	9,46,692	0.24
Apr 08, 2024	Srestha finvest limited	Bulk	Buy	214.68	25.96 Cr	12,09,279	0.30
Apr 08, 2024	Saroj gupta	Bulk	Sell	215.22	20.16 Cr	9,36,692	0.23
Apr 08, 2024	Srestha finvest limited	Bulk	Sell	214.80	25.44 Cr	11,84,279	0.30
Apr 02, 2024	Ajay kumar pandey	Bulk	Buy	205.00	19.63 Cr	9,57,769	0.24
Mar 12, 2024	Citadel securities india mark...	Bulk	Buy	177.29	16.36 Cr	9,22,868	0.23

Projection

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Actions

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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

3 days ago

Disclosure of Share Acquisition by Promoter Group

Pranav Singla, Whole-time Director of JTL Industries, acquired 87,93,428 equity shares as a gift from his immediate relative, in compliance with SEBI regulations.

Insider Trading Disclosure

3 days ago

Acquisition Disclosure by Pranav Singla

Mr. Pranav Singla acquired 87,93,428 shares of JTL Industries Limited by way of gift from an immediate relative, representing 2.24% of the paid-up capital.

Regulatory Filing

3 days ago

SEBI Regulation 29(2) Disclosure by Vijay Singla

Disclosure related to transfer of equity shares within the Promoter Group as per SEBI regulations.

Insider Trading Disclosure

3 days ago

Pranav Singla Acquires Shares in JTL Industries Limited

Pranav Singla has disclosed acquiring 87,93,420 shares (2.24% of equity) of JTL Industries Limited from an immediate relative as a gift.

Insider Trading Disclosure

3 days ago

Disclosure of Share Acquisition

Pranav Singla has acquired 2.24% equity shares of JTL Industries Limited from his father as a gift, complying with SEBI regulations.

Equity Allotment

4 days ago

Equity Shares Allotment to JTL Industries

RCI Industries & Technologies Limited allotted 10,000,000 equity shares to JTL Industries Limited as part of an approved resolution plan following NCLT's order.

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

Q1 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q4 FY24

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