Nalwa Sons Investments Ltd

NSIL

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Market Cap

₹ 3,436 Cr

P/E

142.76

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

SLUGGISH

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Nalwa Sons Investments Limited, formerly known as Jindal Strips Limited, is a non-banking financial company (NBFC) investing in shares of group companies and granting loans for dividends and interest income.

Originally a stainless steel manufacturer, the company has undergone significant restructuring, including hiving off divisions to JSPL and demerging its stainless steel division to Jindal Stainless Limited.

The company historically engaged in manufacturing wide range of steel products, including stainless steel strips, hot and cold-rolled coils, and sponge iron across multiple locations.

Jindal Strips was at one point a major player in the stainless steel industry, developing all its technology in-house without external collaboration, capturing a 40% market share.

Nalwa Sons has several subsidiaries, with recent changes including Jindal Holdings Limited ceasing to be an NBFC and Jindal Stainless (Mauritius) Limited ceasing to be a subsidiary.

Sector

Finance

Industry

NBFC-Holding Companies

Market Cap

3,436 Cr

Volatility

High Risk

P/E Ratio

142.8

Industry P/E

26.1

PEG Ratio

—

P/B Ratio

0.2

52W High

8,944.00

52W Low

4,596.20

Sales CAGR

41.57%

9.38%

16.85%

10Y

18.77%

Profit CAGR

-18.30%

-13.13%

8.50%

10Y

11.60%

ROE

TTM

0.15%

0.52%

0.60%

10Y

0.78%

ROCE

TTM

0.23%

0.62%

0.68%

10Y

0.83%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PILANIINVS	5130.35	5,680 Cr	196.04	0.33	0.29	0.17	1.38	0.48
RTNINDIA	40.95	5,660 Cr	—	5.48	0.00	-40.63	-16.68	-12.90
NSIL	6685.00	3,436 Cr	142.76	0.21	0.00	0.15	0.23	0.14
RANEHOLDIN	1358.90	1,947 Cr	27.02	1.74	2.79	7.74	11.34	2.84
BLIL	73.01	1,621 Cr	9.45	1.19	5.89	12.62	24.00	7.82
JINDALPHOT	1524.70	1,548 Cr	10.08	1.46	0.00	14.49	14.37	13.43
BFINVEST	410.70	1,547 Cr	18.85	0.22	0.00	1.16	1.53	1.05

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
Revenue	25	27	26	11	40	60	14	12	37	25
Expenses	1.34	1.09	5.29	6.20	0.90	15	2.15	43	4.32	3.34
Interest	0.15	0.00	0.00	0.00	0.00	0.00	0.03	0.00	0.00	0.21
Financing Profit	24	26	20	4.72	39	44	11	-31	33	21
Financing Margin %	94.08	95.91	79.38	43.22	97.73	74.46	83.91	-250.57	88.35	85.64
Other Income	0.30	0.53	0.31	0.05	0.06	0.90	-0.23	0.47	0.03	1.62
Depreciation	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01
Profit Before Tax	24	26	21	4.77	39	45	11	-30	33	23
Tax %	30.85	20.82	16.39	63.31	24.74	22.77	26.50	12.74	21.35	21.62
Net Profit	17	21	17	1.75	29	35	8.18	-26	26	18
EPS in Rs	32.30	40.22	33.66	3.41	56.86	68.23	15.93	-51.49	50.20	34.79
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

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
Revenue	34	36	49	59	65	93	134	88	125	123
Expenses	12	26	-1.27	50	21	17	8.32	14	61	65
Interest	0.02	0.03	0.03	0.00	0.00	0.00	0.88	0.16	0.03	0.03
Financing Profit	22	10	50	9.28	44	76	124	74	64	58
Financing Margin %	64.68	28.75	102.51	15.74	67.11	81.75	93.11	84.10	50.96	47.17
Other Income	0.24	0.11	0.81	-0.03	2.41	3.80	0.05	1.20	1.20	1.17
Depreciation	0.00	0.00	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.04
Profit Before Tax	22	11	51	9.24	46	80	124	76	65	59
Tax %	18.45	19.31	13.20	-110.29	9.65	17.54	25.54	25.48	29.25	27.82
Net Profit	18	8.48	85	19	43	66	93	56	46	43
EPS in Rs	—	—	97.53	35.67	84.00	128.24	180.26	109.59	89.53	49.43
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

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	5.14	5.14	5.14	5.14	5.14	5.14	5.14	5.14	5.14	5.14
Reserves	334	354	365	3,615	3,182	5,101	7,934	7,988	12,600	16,678
Borrowings	33	32	33	1.39	1.52	0.00	0.00	0.00	0.00	0.00
Other Liabilities	44	43	40	302	208	663	1,477	1,448	1,951	2,264
Total Liabilities	416	434	443	3,923	3,397	5,769	9,417	9,442	14,556	18,947
Fixed Assets	0.01	0.00	0.00	0.13	0.12	0.10	0.08	0.06	0.04	0.04
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	3,704	3,141	5,492	9,079	9,081	14,148	18,507
Other Assets	416	434	443	219	256	277	338	361	407	440
Total Assets	416	434	443	3,923	3,397	5,769	9,417	9,442	14,556	18,947

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	18	24	22	-8.82	20	50	42	72	41	62
Cash from Investing Activity	-19	-26	-13	-0.79	-20	-48	-41	-68	-30	-75
Cash from Financing Activity	1.93	-0.67	0.21	-0.03	0.13	-1.52	0.00	-0.88	-0.16	-0.03
Net Cash Flow	1.03	-2.16	9.68	-9.64	-0.48	0.38	0.52	3.61	11	-14

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	55.62%	55.62%	55.62%	55.62%	55.62%	55.62%	55.62%	55.62%	55.62%	55.62%	55.62%	55.62%
FIIs	4.94%	5.07%	5.10%	4.91%	4.83%	5.00%	5.05%	5.43%	4.99%	5.51%	5.74%	5.82%
DIIs	0.61%	0.61%	0.61%	0.61%	0.61%	0.07%	0.07%	0.07%	0.07%	0.10%	0.16%	0.16%
Public	38.83%	38.70%	38.67%	38.86%	38.94%	39.32%	39.27%	38.89%	39.33%	38.77%	38.49%	38.40%
Total Shareholders	23,922	23,561	23,078	23,795	23,563	24,116	24,955	26,700	37,734	38,396	36,859	35,598

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jan 09, 2024	Opj trading pvt ltd	Insider - Promoter Group	Revoke	3,154.65	180.25 Cr	5,71,386	11.12
Jan 09, 2024	Jindal power limited	Insider - Promoter Group	Revoke	3,154.65	39.26 Cr	1,24,446	2.42
Dec 04, 2023	Jindal power limited	Insider - Promoter Group	Acquisition	—	—	1,24,446	—
Sep 14, 2023	Prj holdings pvt ltd trustee ...	Insider - Promoter Group	Acquisition	—	—	2,469	—
Sep 14, 2023	Arti jindal	Insider - Promoter Group	Disposal	—	—	2,469	0.04
Dec 22, 2022	Global vision trust	Insider - Promoter Group	Acquisition	2,347.60	0.00 Cr	10	—
Dec 22, 2022	Global growth trust	Insider - Promoter Group	Acquisition	2,352.80	0.00 Cr	10	—

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Postal Ballot

6 days ago

Postal Ballot Notice for Nalwa Sons Investments

The company is notifying members about a Postal Ballot for seeking approvals on special businesses, including re-appointments of directors.

Corporate Action

6 days ago

Notice of Postal Ballot for Shareholder Meeting

Nalwa Sons Investments Limited has announced a Postal Ballot Notice dated December 9, 2025, seeking shareholder approval for the re-appointment of two independent directors.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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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
Revenue	25	27	26	11	40	60	14	12	37	25
Expenses	1.34	1.09	5.29	6.20	0.90	15	2.15	43	4.32	3.34
Interest	0.15	0.00	0.00	0.00	0.00	0.00	0.03	0.00	0.00	0.21
Financing Profit	24	26	20	4.72	39	44	11	-31	33	21
Financing Margin %	94.08	95.91	79.38	43.22	97.73	74.46	83.91	-250.57	88.35	85.64
Other Income	0.30	0.53	0.31	0.05	0.06	0.90	-0.23	0.47	0.03	1.62
Depreciation	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01
Profit Before Tax	24	26	21	4.77	39	45	11	-30	33	23
Tax %	30.85	20.82	16.39	63.31	24.74	22.77	26.50	12.74	21.35	21.62
Net Profit	17	21	17	1.75	29	35	8.18	-26	26	18
EPS in Rs	32.30	40.22	33.66	3.41	56.86	68.23	15.93	-51.49	50.20	34.79
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

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
Revenue	34	36	49	59	65	93	134	88	125	123
Expenses	12	26	-1.27	50	21	17	8.32	14	61	65
Interest	0.02	0.03	0.03	0.00	0.00	0.00	0.88	0.16	0.03	0.03
Financing Profit	22	10	50	9.28	44	76	124	74	64	58
Financing Margin %	64.68	28.75	102.51	15.74	67.11	81.75	93.11	84.10	50.96	47.17
Other Income	0.24	0.11	0.81	-0.03	2.41	3.80	0.05	1.20	1.20	1.17
Depreciation	0.00	0.00	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.04
Profit Before Tax	22	11	51	9.24	46	80	124	76	65	59
Tax %	18.45	19.31	13.20	-110.29	9.65	17.54	25.54	25.48	29.25	27.82
Net Profit	18	8.48	85	19	43	66	93	56	46	43
EPS in Rs	—	—	97.53	35.67	84.00	128.24	180.26	109.59	89.53	49.43
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

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	5.14	5.14	5.14	5.14	5.14	5.14	5.14	5.14	5.14	5.14
Reserves	334	354	365	3,615	3,182	5,101	7,934	7,988	12,600	16,678
Borrowings	33	32	33	1.39	1.52	0.00	0.00	0.00	0.00	0.00
Other Liabilities	44	43	40	302	208	663	1,477	1,448	1,951	2,264
Total Liabilities	416	434	443	3,923	3,397	5,769	9,417	9,442	14,556	18,947
Fixed Assets	0.01	0.00	0.00	0.13	0.12	0.10	0.08	0.06	0.04	0.04
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	3,704	3,141	5,492	9,079	9,081	14,148	18,507
Other Assets	416	434	443	219	256	277	338	361	407	440
Total Assets	416	434	443	3,923	3,397	5,769	9,417	9,442	14,556	18,947

Consolidated Cash Flows (in ₹ Crores)

View Standalone

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	18	24	22	-8.82	20	50	42	72	41	62
Cash from Investing Activity	-19	-26	-13	-0.79	-20	-48	-41	-68	-30	-75
Cash from Financing Activity	1.93	-0.67	0.21	-0.03	0.13	-1.52	0.00	-0.88	-0.16	-0.03
Net Cash Flow	1.03	-2.16	9.68	-9.64	-0.48	0.38	0.52	3.61	11	-14

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PILANIINVS	5130.35	5,680 Cr	196.04	0.33	0.29	0.17	1.38	0.48
RTNINDIA	40.95	5,660 Cr	—	5.48	0.00	-40.63	-16.68	-12.90
NSIL	6685.00	3,436 Cr	142.76	0.21	0.00	0.15	0.23	0.14
RANEHOLDIN	1358.90	1,947 Cr	27.02	1.74	2.79	7.74	11.34	2.84
BLIL	73.01	1,621 Cr	9.45	1.19	5.89	12.62	24.00	7.82
JINDALPHOT	1524.70	1,548 Cr	10.08	1.46	0.00	14.49	14.37	13.43
BFINVEST	410.70	1,547 Cr	18.85	0.22	0.00	1.16	1.53	1.05

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

The company historically engaged in manufacturing wide range of steel products, including stainless steel strips, hot and cold-rolled coils, and sponge iron across multiple locations.

Jindal Strips was at one point a major player in the stainless steel industry, developing all its technology in-house without external collaboration, capturing a 40% market share.

Nalwa Sons has several subsidiaries, with recent changes including Jindal Holdings Limited ceasing to be an NBFC and Jindal Stainless (Mauritius) Limited ceasing to be a subsidiary.

Sector

Finance

Industry

NBFC-Holding Companies

Market Cap

3,436 Cr

Volatility

High Risk

P/E Ratio

142.8

Industry P/E

26.1

PEG Ratio

—

P/B Ratio

0.2

52W High

8,944.00

52W Low

4,596.20

Sales CAGR

41.57%

9.38%

16.85%

10Y

18.77%

Profit CAGR

-18.30%

-13.13%

8.50%

10Y

11.60%

ROE

TTM

0.15%

0.52%

0.60%

10Y

0.78%

ROCE

TTM

0.23%

0.62%

0.68%

10Y

0.83%