JSL

Jindal Stainless Limited

India's leading stainless steel maker — slabs, blooms, coils, plates and wire rods

Commodities›Metals & Mining›Ferrous Metals›Iron & Steel

jindalstainless.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹736.55
Market cap
60,672 Cr
Stock P/E
18.7
P/B
3.07
Dividend yield
0.4%
ROE (FY26)
16.1%
ROCE (FY26)
17.7%
Operating margin (FY26)
10.5%
Debt / equity (FY26)
0.37
OCF / EBITDA (FY26)
60.9%
OCF / EBITDA (3Y)
86.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

JSL (Jindal Stainless) makes stainless steel and sells mostly in India, with domestic sales at 93% of the total (FY26), and the rest exported.

Company snapshot

5thBy market cap

Ranked among 13 companies in Iron & Steel.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales9,797 Cr9,127 Cr9,454 Cr9,430 Cr9,777 Cr9,907 Cr10,198 Cr10,207 Cr10,893 Cr10,518 Cr11,337 Cr11,279 Cr
Operating expenses (approx.)8,559 Cr7,868 Cr8,419 Cr8,219 Cr8,590 Cr8,714 Cr9,165 Cr8,911 Cr9,519 Cr9,104 Cr9,843 Cr9,915 Cr
EBITDA1,238 Cr1,259 Cr1,035 Cr1,210 Cr1,187 Cr1,193 Cr1,033 Cr1,296 Cr1,374 Cr1,413 Cr1,494 Cr1,364 Cr
OPM %12.6%13.8%11.0%12.8%12.1%12.0%10.1%12.7%12.6%13.4%13.2%12.1%
Other income32 Cr39 Cr55 Cr51 Cr47 Cr99 Cr94 Cr69 Cr90 Cr102 Cr91 Cr118 Cr
Interest156 Cr146 Cr153 Cr143 Cr159 Cr161 Cr150 Cr144 Cr141 Cr134 Cr149 Cr146 Cr
Depreciation222 Cr236 Cr233 Cr232 Cr241 Cr242 Cr241 Cr252 Cr262 Cr269 Cr278 Cr302 Cr
Profit before tax993 Cr917 Cr702 Cr886 Cr834 Cr890 Cr729 Cr969 Cr1,078 Cr1,082 Cr1,112 Cr1,034 Cr
Tax %23.1%24.6%28.7%27.1%27.0%26.5%19.0%26.3%25.1%23.5%25.0%25.6%
Net profit764 Cr691 Cr501 Cr646 Cr609 Cr654 Cr590 Cr715 Cr808 Cr828 Cr834 Cr769 Cr
EPS (₹)₹9.40₹8.41₹6.08₹7.87₹7.42₹7.95₹7.18₹8.67₹9.80₹10.06₹10.24₹9.34

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9,925 Cr11,817 Cr13,557 Cr12,951 Cr12,188 Cr21,223 Cr35,697 Cr38,562 Cr39,312 Cr42,955 CrSign in free for the trailing twelve months
Operating expenses (approx.)8,759 Cr10,477 Cr12,393 Cr11,811 Cr10,759 Cr18,134 Cr32,001 Cr33,805 Cr34,689 Cr37,378 CrSign in free for the trailing twelve months
EBITDA1,166 Cr1,340 Cr1,165 Cr1,139 Cr1,429 Cr3,090 Cr3,696 Cr4,757 Cr4,623 Cr5,577 CrSign in free for the trailing twelve months
OPM %11.7%11.3%8.6%8.8%11.7%14.6%10.4%12.3%11.8%13.0%Sign in free for the trailing twelve months
Other income26 Cr45 Cr33 Cr40 Cr41 Cr56 Cr126 Cr169 Cr291 Cr351 CrSign in free for the trailing twelve months
Interest788 Cr566 Cr637 Cr586 Cr480 Cr332 Cr325 Cr554 Cr612 Cr568 CrSign in free for the trailing twelve months
Depreciation325 Cr320 Cr352 Cr425 Cr403 Cr371 Cr724 Cr879 Cr956 Cr1,060 CrSign in free for the trailing twelve months
Profit before tax116 Cr520 Cr222 Cr165 Cr690 Cr2,442 Cr2,774 Cr3,592 Cr3,339 Cr4,242 CrSign in free for the trailing twelve months
Tax %28.1%33.5%34.5%56.1%39.2%21.8%24.9%25.0%25.1%24.9%Sign in free for the trailing twelve months
Net profit83 Cr346 Cr145 Cr73 Cr419 Cr1,909 Cr2,084 Cr2,693 Cr2,500 Cr3,185 CrSign in free for the trailing twelve months
EPS (₹)₹2.29₹7.60₹2.97₹1.48₹8.60₹37.81₹25.68₹32.95₹30.42₹38.76Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%0.0%10.6%9.8%7.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital80 Cr96 Cr96 Cr97 Cr97 Cr105 Cr165 Cr165 Cr165 Cr165 Cr
Reserves1,734 Cr2,369 Cr2,495 Cr2,620 Cr3,108 Cr5,081 Cr11,766 Cr14,193 Cr16,523 Cr19,626 Cr
Borrowings5,380 Cr4,602 Cr3,896 Cr3,361 Cr3,107 Cr3,126 Cr3,871 Cr5,948 Cr6,298 Cr7,342 Cr
Other liabilities3,710 Cr3,757 Cr4,216 Cr4,586 Cr4,409 Cr6,509 Cr11,301 Cr10,495 Cr13,152 Cr13,480 Cr
Total liabilities10,910 Cr10,834 Cr10,715 Cr10,678 Cr10,735 Cr14,862 Cr27,140 Cr30,817 Cr36,158 Cr40,704 Cr
Fixed assets (net)6,587 Cr6,323 Cr6,315 Cr6,148 Cr5,828 Cr5,568 Cr8,546 Cr11,395 Cr12,433 Cr15,545 Cr
CWIP30 Cr144 Cr24 Cr13 Cr53 Cr357 Cr761 Cr1,085 Cr1,770 Cr1,790 Cr
Investments404 Cr439 Cr454 Cr449 Cr456 Cr633 Cr1,440 Cr1,908 Cr2,319 Cr1,558 Cr
Loans & advances——8 Cr5 Cr3 Cr0 Cr0 Cr6 Cr457 Cr462 Cr
Inventories2,097 Cr2,384 Cr2,415 Cr2,739 Cr2,789 Cr4,177 Cr8,394 Cr7,932 Cr9,700 Cr9,508 Cr
Trade receivables890 Cr907 Cr919 Cr705 Cr934 Cr2,453 Cr3,658 Cr2,837 Cr3,107 Cr3,086 Cr
Cash & bank46 Cr47 Cr36 Cr40 Cr77 Cr215 Cr470 Cr1,230 Cr633 Cr415 Cr
Other assets857 Cr590 Cr544 Cr579 Cr595 Cr1,459 Cr3,872 Cr4,426 Cr5,739 Cr8,340 Cr
Total assets10,910 Cr10,834 Cr10,715 Cr10,678 Cr10,735 Cr14,862 Cr27,140 Cr30,817 Cr36,158 Cr40,704 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity5,115 Cr1,452 Cr1,419 Cr1,180 Cr1,308 Cr1,083 Cr3,096 Cr4,818 Cr4,718 Cr3,395 Cr
Cash from investing-31 Cr-193 Cr-192 Cr-188 Cr-152 Cr-783 Cr-2,482 Cr-3,340 Cr-3,439 Cr-3,506 Cr
Cash from financing-5,106 Cr-1,257 Cr-1,237 Cr-991 Cr-1,119 Cr-163 Cr-386 Cr-829 Cr-1,882 Cr-112 Cr
Net cash flow-21 Cr2 Cr-11 Cr2 Cr37 Cr137 Cr229 Cr649 Cr-602 Cr-223 Cr
Free cash flow (OCF − Capex)5,041 Cr1,250 Cr1,213 Cr984 Cr1,140 Cr318 Cr1,440 Cr3,343 Cr2,833 Cr737 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %12.5%15.3%13.2%12.3%18.5%33.2%19.6%20.4%17.2%17.7%
ROE %4.5%13.9%5.5%2.6%13.0%36.0%17.7%18.9%15.0%16.1%
Debtor days33282520284237272926
Inventory days132131101122136101123113130124
Days payable11711710411812810111499122108
Cash conversion cycle47422223364246413642
OCF / EBITDA %438.8%108.4%121.8%103.6%91.5%35.1%83.8%101.3%102.1%60.9%
OCF / EBITDA % (3 years)——217.6%111.2%104.6%63.1%66.8%77.9%96.6%86.5%
Debt / equity2.971.871.501.240.970.600.320.410.380.37
Current ratio——0.850.831.021.051.381.471.261.24
Net debt / EBITDA4.583.403.312.912.120.940.920.991.231.24