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Swing Capital

Jindal Steel Ltd

NSE: JINDALSTEL BSE: 532286Metal

Jindal Steel & Power Ltd is one of the India's leading steel producers with significant presence in sectors like steel and mining. The group has global presence through subsidiaries, mainly in Australia, Botswana, Indonesia, Mauritius, Mozambique, Madagascar, Namibia, South Africa, Tanzania and Zambia.[1]

₹1,237
52W: ₹883 — ₹1306
PE 30.3 · Book ₹521 · +137% vs book
Market Cap₹1,26,185 Cr
Stock P/E30.3Price to Earnings
ROCE10.7%Return on Capital
ROE8.1%Return on Equity
Div. Yield0.16%Face Value ₹1

Weaknesses

  • −The company has delivered a poor sales growth of 10.1% over past five years.
  • −Company has a low return on equity of 9.76% over last 3 years.

Shareholding Pattern

Promoters62.71%
FIIs9.19%
DIIs19.14%
Public8.73%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters61.19%61.19%61.19%62.22%▲1.062.36%▲0.162.38%▲0.062.71%▲0.362.71%
FIIs12.64%12.19%▼0.510.99%▼1.29.59%▼1.49.76%▲0.29.43%▼0.39.02%▼0.49.19%▲0.2
DIIs15.34%16.05%▲0.717.26%▲1.217.72%▲0.518.09%▲0.418.74%▲0.619.1%▲0.419.14%▲0.0
Public10.01%9.75%▼0.39.75%9.65%▼0.19.54%▼0.19.2%▼0.38.93%▼0.38.73%▼0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales11,51613,77312,84311,50411,43613,03512,42012,10913,55915,935
Expenses8,79711,25410,1449,5649,27510,8979,56410,14911,90913,932
Operating Profit2,7192,5192,6991,9402,1612,1392,8561,9591,6502,003
OPM %24%18%21%17%19%16%23%16%12%13%
Net Profit1,4841,2821,4578941,1631081,624921673-143
EPS ₹14.5412.5614.288.7711.41.0515.929.036.59-1.41

AI Insights

Revenue Trend

Mar 2026 revenue at ₹54,023Cr, up 9.9% YoY. OPM at 16%.

Debt Position

Borrowings at ₹8,436Cr. Debt-to-equity ratio: 0.16x. Healthy balance sheet.

Capex Cycle

CWIP at ₹3,419Cr (8% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 19.14% (+4.40pp change). FIIs: 9.19% (-3.52pp change). Promoters hold 62.71%.

Margin & Efficiency

ROCE improving from 6% (Mar 2015) to 11% (Mar 2026). Working capital days: -12.

Valuation

PE 30.3x with 10.7% ROCE. Price is 137% above book value of ₹521. Dividend yield: 0.16%.

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