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Swing Capital

JTL Industries Ltd

NSE: JTLIND BSE: 534600Metal

JTL Infra Ltd is an integrated manufacturer and supplier of steel tubes, pipes and allied products with manufacturing facilities in India.[1]

₹66.9
52W: ₹40.2 — ₹86
PE 29.1 · Book ₹34 · +97% vs book
Market Cap₹2,556 Cr
Stock P/E29.1Price to Earnings
ROCE8.96%Return on Capital
ROE6.98%Return on Equity
Div. Yield0.18%Face Value ₹1

Strengths

  • +Company's median sales growth is 25.4% of last 10 years

Weaknesses

  • −Company has a low return on equity of 10.4% over last 3 years.
  • −Dividend payout has been low at 4.83% of profits over last 3 years
  • −Promoter holding has decreased over last 3 years: -7.00%

Shareholding Pattern

Promoters49.26%
FIIs3.4%
DIIs0%
Public47.34%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters54.24%48.91%▼5.348.91%48.91%48.91%48.91%49.26%▲0.449.26%
FIIs5.82%5.6%▼0.25%▼0.64.86%▼0.14.44%▼0.43.39%▼1.13.34%▼0.13.4%▲0.1
DIIs0.3%1.64%▲1.32.22%▲0.63.04%▲0.83.36%▲0.32.21%▼1.10.02%▼2.20%▼0.0
Public39.65%43.87%▲4.243.88%▲0.043.21%▼0.743.28%▲0.145.49%▲2.247.37%▲1.947.34%▼0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales567466516480452466504371423500
Expenses525429476450416449483341388461
Operating Profit43374030351721293539
OPM %7%8%8%6%8%4%4%8%8%8%
Net Profit30293126251716202626
EPS ₹0.880.850.890.690.650.440.420.520.680.68

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,798Cr, down 5.9% YoY. OPM at 7%.

Debt Position

Borrowings at ₹203Cr. Debt-to-equity ratio: 0.16x. Healthy balance sheet.

Capex Cycle

CWIP at ₹154Cr (70% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0% (-0.70pp change). FIIs: 3.4% (+2.68pp change). Promoters hold 49.26%.

Margin & Efficiency

ROCE improving from 9% (Mar 2015) to 9% (Mar 2026). Working capital days: 149.

Valuation

PE 29.1x with 8.96% ROCE. Price is 97% above book value of ₹34. Dividend yield: 0.18%.

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