JTLIND

JTL INDUSTRIES LIMITED

Steel pipes and value-added steel products for infrastructure and industrial applications

Industrials›Capital Goods›Industrial Products›Iron & Steel Products

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Key metrics

Price as of 2026-10-16

Stock price

₹87.33

Market cap

3,433 Cr

Stock P/E

29.9

P/B

2.31

Dividend yield

0.1%

ROE (FY26)

6.5%

ROCE (FY26)

8.3%

Operating margin (FY26)

6.3%

Debt / equity (FY26)

0.16

OCF / EBITDA (FY26)

-43.6%

OCF / EBITDA (3Y)

-78.0%

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

JTL Industries makes steel pipes and tubes in India for infrastructure, construction, energy and industrial uses, selling through dealers, directly to institutional buyers and to export markets, while moving its mix toward value-added products such as DFT structural steel pipes.

Company snapshot

24thBy market cap

Ranked among 64 companies in Iron & Steel Products.

What we see

Positives

✓Debt-to-equity of 0.16x — the company is largely funded by its own money, not borrowed funds.

Concerns

✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

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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

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	502 Cr	567 Cr	466 Cr	515 Cr	480 Cr	451 Cr	469 Cr	544 Cr	429 Cr	471 Cr	693 Cr	722 Cr
Operating expenses (approx.)	465 Cr	525 Cr	429 Cr	476 Cr	450 Cr	416 Cr	452 Cr	520 Cr	395 Cr	432 Cr	635 Cr	663 Cr
EBITDA	37 Cr	43 Cr	37 Cr	40 Cr	30 Cr	35 Cr	18 Cr	23 Cr	35 Cr	39 Cr	58 Cr	59 Cr
OPM %	7.5%	7.5%	7.9%	7.7%	6.2%	7.8%	3.8%	4.3%	8.1%	8.2%	8.3%	8.1%
Other income	3 Cr	0.94 Cr	4 Cr	4 Cr	8 Cr	2 Cr	9 Cr	6 Cr	2 Cr	4 Cr	1 Cr	5 Cr
Interest	1 Cr	2 Cr	0.95 Cr	1 Cr	0.73 Cr	1 Cr	1 Cr	3 Cr	1 Cr	3 Cr	4 Cr	5 Cr
Depreciation	1 Cr	2 Cr	2 Cr	2 Cr	2 Cr	2 Cr	3 Cr	4 Cr	5 Cr	6 Cr	5 Cr	10 Cr
Profit before tax	38 Cr	40 Cr	38 Cr	41 Cr	35 Cr	34 Cr	22 Cr	22 Cr	31 Cr	33 Cr	50 Cr	48 Cr
Tax %	26.2%	25.2%	22.6%	24.6%	24.3%	26.0%	24.8%	24.4%	27.8%	19.9%	23.6%	27.0%
Net profit	28 Cr	30 Cr	30 Cr	31 Cr	26 Cr	25 Cr	17 Cr	17 Cr	22 Cr	26 Cr	38 Cr	35 Cr
EPS (₹)	₹1.64	₹1.77	₹1.71	₹1.73	₹1.39	₹0.63	₹0.43	₹0.42	₹0.56	₹0.67	₹0.96	₹0.90

Profit & loss (annual)

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

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	976 Cr	1,550 Cr	2,040 Cr	1,916 Cr	2,136 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	903 Cr	1,421 Cr	1,888 Cr	1,793 Cr	1,982 Cr	Sign in free for the trailing twelve months
EBITDA	73 Cr	129 Cr	152 Cr	123 Cr	154 Cr	Sign in free for the trailing twelve months
OPM %	7.4%	8.3%	7.5%	6.4%	7.2%	Sign in free for the trailing twelve months
Other income	4 Cr	5 Cr	9 Cr	22 Cr	13 Cr	Sign in free for the trailing twelve months
Interest	6 Cr	6 Cr	5 Cr	5 Cr	11 Cr	Sign in free for the trailing twelve months
Depreciation	2 Cr	4 Cr	6 Cr	9 Cr	21 Cr	Sign in free for the trailing twelve months
Profit before tax	68 Cr	123 Cr	150 Cr	132 Cr	135 Cr	Sign in free for the trailing twelve months
Tax %	25.9%	26.5%	24.8%	24.9%	23.8%	Sign in free for the trailing twelve months
Net profit	50 Cr	90 Cr	113 Cr	99 Cr	103 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹8.45	₹10.69	₹6.63	₹2.60	₹2.62	Sign in free for the trailing twelve months
Dividend payout %	4.2%	0.0%	1.5%	4.8%	2.4%	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

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12 Cr	17 Cr	35 Cr	39 Cr	39 Cr
Reserves	146 Cr	390 Cr	739 Cr	1,179 Cr	1,447 Cr
Borrowings	78 Cr	53 Cr	20 Cr	76 Cr	244 Cr
Other liabilities	41 Cr	104 Cr	49 Cr	44 Cr	230 Cr
Total liabilities	276 Cr	563 Cr	843 Cr	1,339 Cr	1,996 Cr
Fixed assets (net)	42 Cr	65 Cr	111 Cr	218 Cr	501 Cr
CWIP	3 Cr	4 Cr	6 Cr	66 Cr	159 Cr
Investments	12 Cr	16 Cr	6 Cr	10 Cr	23 Cr
Loans & advances	3 Cr	52 Cr	42 Cr	93 Cr	186 Cr
Inventories	93 Cr	168 Cr	150 Cr	217 Cr	271 Cr
Trade receivables	96 Cr	141 Cr	193 Cr	280 Cr	414 Cr
Cash & bank	0.09 Cr	50 Cr	101 Cr	74 Cr	35 Cr
Other assets	27 Cr	67 Cr	234 Cr	379 Cr	408 Cr
Total assets	276 Cr	563 Cr	843 Cr	1,339 Cr	1,996 Cr

Cash flows

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

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	10 Cr	5 Cr	-22 Cr	-246 Cr	-67 Cr
Cash from investing	-30 Cr	21 Cr	-96 Cr	-188 Cr	-142 Cr
Cash from financing	20 Cr	24 Cr	169 Cr	407 Cr	170 Cr
Net cash flow	-0.12 Cr	50 Cr	51 Cr	-27 Cr	-40 Cr
Free cash flow (OCF − Capex)	-10 Cr	5 Cr	-125 Cr	-424 Cr	-213 Cr

Ratios

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	31.4%	28.1%	19.5%	10.5%	8.3%
ROE %	31.8%	22.1%	14.6%	8.1%	6.5%
Debtor days	36	33	34	53	71
Inventory days	37	45	32	52	58
Days payable	8	8	5	5	31
Cash conversion cycle	65	70	62	100	98
OCF / EBITDA %	13.9%	3.8%	-14.5%	-199.8%	-43.6%
OCF / EBITDA % (3 years)	—	—	-2.0%	-65.0%	-78.0%
Debt / equity	0.50	0.13	0.03	0.06	0.16
Current ratio	2.00	3.26	10.18	9.47	3.22
Net debt / EBITDA	1.08	0.02	-0.53	0.01	1.36