Jindal Saw Ltd.

BSE: JINDALSAW500378ISIN INE324A01032

Industrials
Iron & Steel Products
BSE 500

Share price

₹253.35+6.35 (+2.57%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

Splits and bonuses

9 Oct 2024 · Split 2:1 (₹2 → ₹1)

52W high: ₹319.95
52W low: ₹153.20
Off 52W high: -20.82%
1M return: -7.81%
3M return: -4.70%
6M return: +4.58%
1Y return: +48.64%
20D avg volume: 1,25,056
50 DMA: ₹282.05
200 DMA: ₹238.58

Key ratios Consolidated

Market cap: ₹16,202 Cr
Current price: ₹253.35
52W high / low: ₹319.95 / ₹153.20
Face value: ₹1.00
P/E: 32.58
P/B: 1.28
EPS (TTM): ₹7.78
Book value / share: ₹197.21
ROE: —
ROCE: 10.80%
Operating margin: —
Net margin: —
Debt / equity: 0.38
Net debt: ₹4,284 Cr
Interest cover: 2.71
Dividend yield: 0.79%
Dividend / share (TTM): ₹2.00
Payout: 25.71%
Cash conversion cycle: 117.0 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	4,472	4,452	4,633	4,943	4,234	4,085	5,047	5,271	55.72	4,939	5,425	5,656
	51.27	23.67	23.37	19.61	30.44	18.27	20.89	21.95	0.30	45.73	68.52	40.97
	4,523	4,476	4,657	4,963	4,264	4,103	5,067	5,293	56.02	4,985	5,494	5,697
	4,505	4,328	4,482	4,618	4,091	3,739	4,602	4,655	49.66	4,402	4,828	4,997
	2,397	2,711	2,661	2,445	2,463	3,067	2,926	2,968	28.25	2,956	3,291	3,149
	4.70	0.72	0.98	0.81	0.03	1.89	0.07	0.15	0.00	7.59	4.09	0.70
	438.93	427.61	398.79	407.03	416.38	407.53	377.89	383.49	3.89	376.42	368.40	386.70
	125.45	108.43	162.70	132.81	152.91	171.14	138.77	172.86	1.58	154.19	174.42	181.19
	168.96	163.70	166.74	154.91	155.51	153.33	152.62	150.65	1.51	148.10	148.61	148.55
	936.19	942.28	1,115	1,012	1,006	865.78	982.69	1,004	10.47	993.79	934.15	1,047
	17.84	148.24	174.81	344.52	173.14	363.91	465.66	637.86	6.36	583.00	665.80	699.99
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	17.84	148.24	174.81	344.52	173.14	363.91	465.66	637.86	6.36	583.00	665.80	699.99
	-20.86	52.08	47.97	99.57	44.01	-41.17	385.59	165.88	1.68	171.80	186.14	187.24
	35.28	90.79	123.68	247.62	138.56	415.47	86.92	479.38	4.75	416.43	480.37	511.68
	0.74	1.63	2.19	4.05	2.38	6.66	4.58	7.96	7.85	13.86	15.79	16.72
Key metrics
	312.25	420.37	504.25	632.24	481.56	688.38	757.05	961.37	9.45	885.29	988.83	1,030
	7.00%	9.40%	10.90%	12.80%	11.40%	16.90%	15.00%	18.20%	17.00%	17.90%	18.20%	18.20%
	0.80%	2.00%	2.70%	5.00%	3.30%	10.20%	1.70%	9.10%	8.50%	8.40%	8.90%	9.00%
	0.90%	—	2.20%	—	2.20%	—	4.40%	—	—	—	—	—
	5.60%	9.00%	-8.20%	-6.20%	7,498.00%	-17.30%	-7.00%	-6.80%	—	—	—	—
	-74.50%	-78.10%	42.30%	-48.30%	2,817.10%	-0.20%	-81.90%	-6.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	18,501	17,895	20,829	20,958	17,868	13,298	10,664	11,627	12,117	8,536
	117.92	91.69	118.95	168.21	178.56	152.55	208.39	109.14	146.17	156.13
	18,619	17,987	20,948	21,126	18,046	13,451	10,872	11,736	12,263	8,692
	17,934	16,930	18,625	18,909	17,311	12,830	10,373	11,144	11,653	8,462
	10,214	10,636	11,675	12,647	11,164	8,166	5,946	6,398	7,090	5,146
	7.21	3.71	8.23	34.33	68.23	26.97	77.57	330.80	483.91	11.88
	1,672	1,630	1,527	1,492	1,179	1,015	896.61	939.57	914.17	757.27
	529.39	619.56	623.45	704.69	637.59	460.12	492.79	617.58	615.23	579.15
	654.31	630.49	602.06	567.99	470.78	472.99	458.87	421.67	396.28	—
	4,005	3,998	4,028	3,993	3,831	2,979	2,497	2,230	2,262	1,804
	685.41	1,056	2,323	2,216	735.50	621.47	499.28	592.36	609.71	229.95
	0.00	0.00	0.00	0.00	-25.04	0.00	0.00	-112.05	377.90	-90.81
	685.41	1,056	2,323	2,216	710.46	621.47	499.28	480.31	987.61	133.74
	178.76	150.38	890.92	622.80	267.24	245.59	171.55	5.34	211.62	133.12
	497.37	925.33	1,458	1,593	442.76	375.88	327.73	461.26	763.71	-10.97
	8.61	15.27	27.31	52.75	19.91	12.96	10.02	17.78	26.97	—
Key metrics
	1,869	2,306	3,548	3,489	1,819	1,555	1,451	1,520	1,999	712.89
	10.10%	12.90%	17.00%	16.60%	10.20%	11.70%	13.60%	13.10%	16.50%	8.40%
	2.69%	5.20%	7.00%	7.60%	2.50%	2.80%	3.10%	4.00%	6.30%	-0.10%
	—	10.80%	21.40%	—	—	—	—	—	—	—
	-0.73%	-14.10%	-0.60%	17.30%	34.40%	24.70%	-8.30%	-4.00%	42.00%	—
	-55.61%	-36.50%	-8.50%	259.80%	17.80%	14.70%	-28.90%	-39.60%	7,061.80%	—
	—	695.36	1,304	—	—	—	—	—	—	—
	—	1.91	1.60	—	—	—	—	—	—	—
	—	0.38	0.44	—	—	—	—	—	—	—
	—	4,284	4,204	—	—	—	—	—	—	—
	—	117.0	104.5	—	—	—	—	—	—	—
Balance sheet
	—	21,686	20,779	—	—	—	—	—	—	—
	—	9,973	10,105	—	—	—	—	—	—	—
	—	406.72	655.42	—	—	—	—	—	—	—
	—	3,094	3,564	—	—	—	—	—	—	—
	—	5,267	4,921	—	—	—	—	—	—	—
	—	752.06	710.48	—	—	—	—	—	—	—
	—	10,344	9,275	—	—	—	—	—	—	—
	—	2,623	2,522	—	—	—	—	—	—	—
	—	6,188	6,983	—	—	—	—	—	—	—
	—	4,691	4,859	—	—	—	—	—	—	—
	—	2,567	3,076	—	—	—	—	—	—	—
	—	2,124	1,783	—	—	—	—	—	—	—
	—	12,283	10,954	—	—	—	—	—	—	—
Cash flow
	—	1,771	2,335	—	—	—	—	—	—	—
	—	-955.38	-898.83	—	—	—	—	—	—	—
	—	-1,073	-1,524	—	—	—	—	—	—	—
	—	1,076	1,031	—	—	—	—	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	3,824	3,721	3,818	4,129	3,372	3,300	4,401	4,474	4,724	4,337	4,919	4,718
	57.56	34.22	33.26	27.49	37.20	26.45	48.36	47.27	65.73	80.18	87.30	67.19
	3,881	3,756	3,852	4,157	3,409	3,327	4,449	4,521	4,790	4,417	5,006	4,786
	3,837	3,611	3,695	3,855	3,304	3,020	3,814	3,895	4,165	3,816	4,296	4,167
	2,126	2,388	2,286	2,102	2,057	2,709	2,587	2,601	2,461	2,667	3,019	2,722
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	316.07	312.10	295.44	303.74	318.01	312.57	300.00	303.28	303.35	284.43	281.32	286.09
	92.03	70.72	127.30	103.49	108.35	131.01	99.14	136.35	130.83	122.03	142.72	149.06
	129.43	125.30	129.47	121.63	121.72	121.62	121.89	119.34	119.33	118.93	119.50	121.89
	748.22	763.47	850.10	790.42	766.49	662.67	652.10	784.68	838.49	830.95	776.33	795.64
	43.93	145.01	156.29	301.94	104.75	306.98	635.31	626.37	624.96	601.28	710.33	618.92
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	43.93	145.01	156.29	301.94	104.75	306.98	635.31	626.37	624.96	601.28	710.33	618.92
	-26.76	35.24	42.31	75.17	25.46	56.96	161.06	149.21	148.05	155.13	181.26	166.59
	70.69	109.77	113.98	226.77	79.29	363.94	474.25	477.16	476.91	446.15	529.07	452.33
	1.11	1.72	1.79	3.56	1.24	5.71	7.45	7.50	7.49	14.02	16.64	14.23
Key metrics
	265.39	341.03	413.06	527.06	334.82	559.61	856.34	882.06	875.12	842.24	972.55	889.87
	6.90%	9.20%	10.80%	12.80%	9.90%	17.00%	19.50%	19.70%	18.50%	19.40%	19.80%	18.90%
	1.80%	2.90%	3.00%	5.50%	2.40%	11.00%	10.80%	10.70%	10.10%	10.30%	10.80%	9.60%
	1.00%	—	2.00%	—	1.50%	—	5.40%	—	—	—	—	—
	13.40%	12.80%	-13.20%	-7.70%	-28.60%	-23.90%	-10.50%	-5.20%	—	—	—	—
	-10.80%	-69.80%	-76.00%	-52.50%	-83.40%	-18.40%	-10.40%	5.50%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	15,493	14,620	17,936	17,962	15,282	11,022	8,632	10,129	9,829	7,335
	152.53	124.40	241.54	271.00	420.74	221.13	277.99	198.72	221.10	220.97
	15,646	14,745	18,178	18,233	15,703	11,243	8,910	10,327	10,051	7,556
	14,999	13,875	15,690	16,045	14,779	10,599	8,403	9,601	9,312	6,967
	8,901	9,154	10,317	11,138	9,780	6,843	5,156	5,716	5,915	4,505
	0.00	0.00	0.00	18.26	66.60	17.19	22.41	293.47	469.77	—
	1,227	1,230	1,191	1,120	877.04	770.31	685.37	656.30	577.17	513.36
	393.54	470.15	488.35	585.81	529.09	369.20	404.33	515.57	496.11	415.11
	505.83	494.44	479.49	452.02	373.75	371.77	345.98	310.38	281.42	256.17
	3,152	3,070	3,106	3,173	3,177	2,488	1,858	1,842	1,686	1,450
	647.17	869.96	2,488	2,188	924.50	644.16	506.77	726.43	739.00	588.39
	0.00	0.00	0.00	—	—	-7.05	—	-134.83	—	—
	647.17	869.96	2,488	2,188	924.50	637.11	506.77	591.60	739.00	588.39
	125.96	85.98	613.45	574.18	215.18	231.62	177.72	2.86	240.91	194.09
	521.21	783.98	1,874	1,614	709.32	405.49	329.05	594.46	500.07	385.79
	8.18	12.30	29.44	50.77	22.33	12.76	10.34	18.59	15.58	—
Key metrics
	1,547	1,835	3,456	3,226	1,827	1,378	1,257	1,418	1,517	1,260
	9.98%	12.50%	19.30%	18.00%	12.00%	12.50%	14.60%	14.00%	15.40%	17.20%
	3.36%	5.40%	10.50%	9.00%	4.60%	3.70%	3.80%	5.90%	5.10%	5.30%
	—	9.40%	22.00%	—	—	—	—	—	—	—
	-0.35%	-18.50%	-0.10%	17.50%	38.60%	27.70%	-14.80%	3.00%	34.00%	—
	-62.63%	-58.20%	16.10%	127.60%	74.90%	23.20%	-44.60%	18.90%	29.60%	—
	—	776.89	908.00	—	—	—	—	—	—	—
	—	2.09	0.99	—	—	—	—	—	—	—
	—	0.22	0.26	—	—	—	—	—	—	—
	—	2,518	2,532	—	—	—	—	—	—	—
	—	117.2	99.2	—	—	—	—	—	—	—
Balance sheet
	—	19,549	18,992	—	—	—	—	—	—	—
	—	8,140	8,295	—	—	—	—	—	—	—
	—	237.71	513.81	—	—	—	—	—	—	—
	—	2,546	3,015	—	—	—	—	—	—	—
	—	4,545	4,182	—	—	—	—	—	—	—
	—	764.87	472.42	—	—	—	—	—	—	—
	—	8,279	7,733	—	—	—	—	—	—	—
	—	2,399	2,323	—	—	—	—	—	—	—
	—	5,367	5,450	—	—	—	—	—	—	—
	—	2,756	3,046	—	—	—	—	—	—	—
	—	2,189	2,446	—	—	—	—	—	—	—
	—	566.48	599.24	—	—	—	—	—	—	—
	—	12,593	11,938	—	—	—	—	—	—	—
Cash flow
	—	1,638	1,855	—	—	—	—	—	—	—
	—	-1,022	-302.59	—	—	—	—	—	—	—
	—	-892.09	-1,519	—	—	—	—	—	—	—
	—	861.27	947.07	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: -1.47%
Sales CAGR 5Y: +11.11%
Profit CAGR 3Y: +3.39%
Profit CAGR 5Y: +18.96%
Sales YoY (TTM): -0.35%
Profit YoY (TTM): -62.63%

Consolidated

Sales CAGR 3Y: +0.05%
Sales CAGR 5Y: +10.91%
Profit CAGR 3Y: +27.85%
Profit CAGR 5Y: +23.07%
Sales YoY (TTM): -0.73%
Profit YoY (TTM): -55.61%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 63.25%

Quarter	September 2026	June 2026
Promoter %	63.25%	63.25%

Holder	Type	Holding	Previous	Change
NALWA SONS INVESTMENTS LIMITED	Promoter Group	16.75%	16.75%	0.00%
FOUR SEASONS INVESTMENTS LIMITED	Promoter Group	13.61%	13.61%	0.00%
SIDDESHWARI TRADEX PRIVATE LIMITED	Promoter Group	11.69%	11.69%	0.00%
KAPEESH INVESTMENTS LIMITED	Promoter Group	9.42%	9.42%	0.00%
OPJ TRADING PRIVATE LIMITED	Promoter Group	2.43%	2.43%	0.00%
VIRTUOUS TRADECORP PRIVATE LIMITED	Promoter Group	2.01%	2.01%	0.00%
MAHINDRA MANULIFE MULTI CAP FUND	Public	1.95%	1.57%	+0.38%
HSBC MUTUAL FUND - HSBC VALUE FUND	Public	1.92%	1.92%	0.00%
Theleme India Master Fund Limited	Public	1.73%	2.26%	-0.53%
SBI LIFE INSURANCE CO. LTD	Public	1.69%	1.33%	+0.36%
DIVINO MULTIVENTURES PRIVATE LIMITED	Promoter Group	1.67%	1.67%	0.00%
PRJ FAMILY MANAGEMENT COMPANY PRIVATE LIMITED AS TRUSTEE OF PRJ HOLDINGS PRIVATE TRUST	Promoter Group	1.27%	1.27%	0.00%
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDI	Public	1.24%	1.25%	-0.01%
CANARA ROBECO MUTUAL FUND A/C CANARA ROBECO S	Public	1.16%	—	—
JSL LIMITED	Promoter Group	0.65%	0.65%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Welspun Corp Limited	62,814	2,390.60	26.60	16.70%	+13.62% TTM	+9.55% TTM	+158.46%
APL Apollo Tubes Limited	60,557	2,198.30	46.60	28.20%	+15.83% TTM	+24.90% TTM	+23.52%
Shyam Metalics and Energy Limited S	35,594	1,231.00	58.56	12.00%	+6.12% TTM	+12.47% TTM	+38.81%
Ratnamani Metals & Tubes Ltd	17,208	2,453.80	33.44	16.30%	-16.31% TTM	-8.61% TTM	+0.53%
Jindal Saw Ltd.	16,560	253.35	32.58	10.80%	-0.73% TTM	-55.61% TTM	+48.64%
Usha Martin Ltd.	14,861	485.60	29.16	18.20%	+8.54% TTM	+25.85% TTM	+2.31%
GODAWARI POWER AND ISPAT LTD.	13,946	205.65	17.14	17.90%	+8.43% TTM	+8.78% TTM	-26.21%
GALLANTT ISPAT LIMITED	12,931	528.55	31.30	18.00%	+5.52% TTM	-17.31% TTM	-5.83%
Jayaswal Neco Industries Ltd S	8,870	91.72	12.94	24.20%	+18.34% TTM	+82.81% TTM	+21.19%
Maharashtra Seamless Ltd.	7,688	556.00	10.11	13.00%	-12.21% TTM	-16.12% TTM	-3.03%
Aeroflex Industries Limited	7,149	567.10	83.87	16.50%	+55.03% TTM	+87.04% TTM	+210.65%
Sunflag Iron & Steel Co. Ltd.	7,022	392.30	34.35	3.70%	+9.35% TTM	+4.58% TTM	+48.12%
Technocraft Industries (India) Ltd.	6,286	2,719.40	17.69	19.30%	+12.39% TTM	+33.31% TTM	+12.14%
Man Industries (India) Ltd	5,973	767.35	28.17	16.10%	+10.75% TTM	+26.33% TTM	+94.91%
Shivalik Bimetal Controls Ltd.	5,758	1,072.50	58.24	25.00%	+27.78% TTM	+33.44% TTM	+130.55%
Goodluck India Limited	5,320	542.70	24.86	19.40%	+18.76% TTM	+31.22% TTM	+32.51%
SAMBHV STEEL TUBES LIMITED	4,965	165.80	25.04	17.50%	—	—	+41.23%
Bansal Wire Industries Limited	4,950	59.80	5.97	16.20%	+20.27% TTM	+2.82% TTM	-2.99%
Surya Roshni Ltd.	4,758	206.40	14.41	15.00%	+11.69% TTM	+8.34% TTM	-31.93%
Electrosteel Castings Ltd.	4,302	68.60	35.12	5.10%	-15.69% TTM	-78.91% TTM	-23.36%
Kalyani Steels Ltd	3,778	864.65	13.40	16.20%	-1.11% TTM	+8.01% TTM	+1.58%
Venus Pipes & Tubes Limited S	3,757	1,840.60	40.76	22.80%	+21.73% TTM	+15.01% TTM	+45.10%
Kirloskar Industries Ltd	3,574	3,308.30	10.24	—	+3.82% TTM	-0.15% TTM	-12.15%
Vardhman Special Steels Ltd S	3,502	356.90	21.41	13.50%	+14.75% TTM	+68.58% TTM	+20.94%
Ratnaveer Precision Engineering Limited S	3,128	380.35	41.84	13.30%	+21.02% TTM	+45.53% TTM	—

Filings & corporate actions

Recent announcements

as attached27 Oct 2026 · Company Update / Analyst / Investor Meet
as attached22 Oct 2026 · Company Update / Earnings Call Transcript
as attached22 Oct 2026 · Company Update / Analyst / Investor Meet
as attached19 Oct 2026 · Company Update / Analyst / Investor Meet
as attached16 Oct 2026 · Company Update / General
Results for the quarter ended 30th September, 202616 Oct 2026 · Result / Financial Results
Results for quarter ended 30th September, 202616 Oct 2026 · Board Meeting / Outcome of Board Meeting
as attached14 Oct 2026 · Company Update / Analyst / Investor Meet
Jindal Saw Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/10/2026 ,inter alia, to consider and approve as attached9 Oct 2026 · Board Meeting / Board Meeting
Intimation regarding Credit Rating8 Oct 2026 · Company Update / Credit Rating
As attached6 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation regarding closure of trading window29 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
As attached21 Sep 2026 · Company Update / General
as attached26 Aug 2026 · Company Update / Analyst / Investor Meet
as attached24 Aug 2026 · Company Update / Analyst / Investor Meet
as attached23 Jul 2026 · Company Update / Analyst / Investor Meet
as attached22 Jul 2026 · Company Update / Earnings Call Transcript
as attached17 Jul 2026 · Company Update / Analyst / Investor Meet
as attached17 Jul 2026 · Company Update / Analyst / Investor Meet
as attached16 Jul 2026 · Company Update / Analyst / Investor Meet
as attached15 Jul 2026 · Company Update / Analyst / Investor Meet
as attached14 Jul 2026 · Company Update / General
as attached14 Jul 2026 · Company Update / General
as attached14 Jul 2026 · Board Meeting / Outcome of Board Meeting
as attached14 Jul 2026 · Result / Financial Results
as attached10 Jul 2026 · Company Update / Change in Management
as attached10 Jul 2026 · Company Update / Analyst / Investor Meet
as attached7 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Jindal Saw Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/07/2026 ,inter alia, to consider and approve as attached7 Jul 2026 · Board Meeting / Board Meeting
as attached26 Jun 2026 · Company Update / Credit Rating
as attached25 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
details are attached25 Jun 2026 · Company Update / General
as attached24 Jun 2026 · Company Update / Analyst / Investor Meet
as attached24 Jun 2026 · Company Update / Analyst / Investor Meet
as attached23 Jun 2026 · Company Update / Analyst / Investor Meet
as attached18 Jun 2026 · Company Update / Analyst / Investor Meet
as attached18 Jun 2026 · Company Update / Analyst / Investor Meet
as attached16 Jun 2026 · Company Update / Analyst / Investor Meet
as attached16 Jun 2026 · Company Update / Analyst / Investor Meet
Minutes of AGM15 Jun 2026 · Company Update / General

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 2.0000	22 May 2026	22 May 2026	—
Final Dividend - Rs. - 2.0000	5 Jun 2025	5 Jun 2025	—
E.G.M.	29 Nov 2024	—	—
Stock Split From Rs.2/- to Rs.1/-	9 Oct 2024	9 Oct 2024	—
E.G.M.	13 Sep 2024	—	—

Board meetings

16 Oct 2026 Board Meeting - Financial Results