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Swing Capital

Jindal Saw Ltd

NSE: JINDALSAW BSE: 500378

Jindal Saw Ltd (JINDALSAW) is a Diversified company listed on NSE: JINDALSAW | BSE: 500378. With a market cap of ₹14,098 Cr and ROCE of 8.89%, ROE of 6.44%, it operates in the Indian Diversified sector.

₹220
52W: ₹153 — ₹260
PE 17.9 · Book ₹197 · +12% vs book
Market Cap₹14,098 Cr
Stock P/E17.9Price to Earnings
ROCE8.89%Return on Capital
ROE6.44%Return on Equity
Div. Yield0.91%Face Value ₹1

Strengths

  • +Stock is trading at 1.12 times its book value

Weaknesses

  • −The company has delivered a poor sales growth of 11.1% over past five years.
  • −Tax rate seems low
  • −Company has a low return on equity of 13.3% over last 3 years.
  • −Dividend payout has been low at 10.4% of profits over last 3 years

Shareholding Pattern

Promoters63.25%
FIIs13.46%
DIIs5.79%
Public17.2%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters63.29%63.29%63.28%▼0.063.28%63.26%▼0.063.25%▼0.063.25%63.25%
FIIs15.06%16.08%▲1.015.73%▼0.316.99%▲1.315.12%▼1.915.35%▲0.214.09%▼1.313.46%▼0.6
DIIs3.87%4.54%▲0.74.69%▲0.24.4%▼0.34.77%▲0.44.35%▼0.43.5%▼0.85.79%▲2.3
Public17.32%15.65%▼1.715.83%▲0.214.95%▼0.916.48%▲1.516.69%▲0.218.79%▲2.117.2%▼1.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales4,7194,9194,3374,7244,4744,4013,3003,3724,1293,818
Expenses3,8964,0343,5753,9153,6393,5932,7673,0743,6303,439
Operating Profit823885762809835808533298500380
OPM %17%18%18%17%19%18%16%9%12%10%
Net Profit45552944647747747436479227114
EPS ₹7.128.276.987.467.467.425.691.243.551.78

AI Insights

Revenue Trend

Mar 2026 revenue at ₹14,620Cr, down 18.5% YoY. OPM at 12%.

Debt Position

Borrowings at ₹2,756Cr. Debt-to-equity ratio: 0.22x. Healthy balance sheet.

Capex Cycle

CWIP at ₹308Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 5.79% (+4.61pp change). FIIs: 13.46% (-2.46pp change). Promoters hold 63.25%.

Margin & Efficiency

ROCE declining from 10% (Mar 2015) to 9% (Mar 2026). Working capital days: 63.

Valuation

PE 17.9x with 8.89% ROCE. Price is 12% above book value of ₹197. Dividend yield: 0.91%.

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