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Jindal Saw Limited
(JINDALSAW)
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Rating:68Neutral
Price Target:
₹302.00
▼(-2.08% Downside)
Action:Reiterated
Date:08/27/26
The score is driven primarily by solid but recently softening financial performance (weaker FY2026 earnings and sharply lower free cash flow), partially offset by strong bullish technicals (price above all key moving averages and positive MACD). Valuation is a meaningful headwind due to the higher P/E and low dividend yield.
Positive Factors
Improved profitability
The substantial improvement in net income and margins through FY2025 indicates stronger operating performance and better earnings conversion. Although the business is cyclical, this profitability progress can support reinvestment, resilience, and competitive positioning over the next several quarters.
Negative Factors
Cooling revenue and earnings momentum
The recent reversal from improving profitability to lower revenue and earnings signals weaker business momentum. For a steel and infrastructure supplier, sustained softness could reduce operating leverage, pressure margins, and make future results more sensitive to cyclical end-market conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved profitability
The substantial improvement in net income and margins through FY2025 indicates stronger operating performance and better earnings conversion. Although the business is cyclical, this profitability progress can support reinvestment, resilience, and competitive positioning over the next several quarters.
Read all positive factors
Jindal Saw Limited (JINDALSAW) vs. iShares MSCI India ETF (INDA)
Market Cap
₹177.56B
Dividend Yield0.72%
Average Volume (3M)156.52K
Price to Earnings (P/E)27.1
Beta (1Y)0.97
Revenue Growth-8.57%
EPS Growth-62.05%
CountryIN
Employees7,565
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)10.24
Shares Outstanding639,508,240
10 Day Avg. Volume92,470
30 Day Avg. Volume156,522
Financial Highlights & Ratios
PEG Ratio-0.27
Price to Book (P/B)0.93
Price to Sales (P/S)0.65
P/FCF Ratio61.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)15.47
Revenue Forecast (FY)₹184.95B
Jindal Saw Limited Business Overview & Revenue Model
Company Description
Jindal Saw Limited, along with its associated companies, stands as a leading global manufacturer and supplier of iron and steel piping, pellets, and related accessories, with operations spanning India and international markets. The company's busin...
How the Company Makes Money
Jindal Saw Limited primarily makes money by manufacturing and selling pipe products. Its main revenue stream is the sale of iron/steel pipes—particularly large-diameter pipes—supplied to customers executing infrastructure and industrial projects (...
Jindal Saw Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 182.63B | 178.95B | 208.29B | 209.58B | 178.68B | 132.98B |
| Gross Profit | 48.14B | 55.82B | 88.53B | 87.01B | 65.36B | 53.40B |
| EBITDA | 19.49B | 23.26B | 34.03B | 31.68B | 15.99B | 13.32B |
| Net Income | 6.53B | 9.73B | 17.38B | 16.77B | 6.44B | 4.12B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 216.86B | 207.79B | 210.22B | 182.56B | 168.50B |
| Cash, Cash Equivalents and Short-Term Investments | 5.43B | 5.55B | 7.66B | 8.95B | 2.43B | 5.08B |
| Total Debt | 0.00 | 46.91B | 48.59B | 57.61B | 49.61B | 60.31B |
| Total Liabilities | -122.83B | 94.03B | 98.25B | 116.54B | 109.78B | 100.01B |
| Stockholders Equity | 122.83B | 125.74B | 114.11B | 100.93B | 79.23B | 73.64B |
Cash Flow | ||||||
| Free Cash Flow | -8.03B | 1.89B | 13.04B | 17.30B | 12.95B | -3.80B |
| Operating Cash Flow | -3.09B | 12.65B | 23.35B | 25.93B | 16.17B | 734.73M |
| Investing Cash Flow | -4.79B | -9.78B | -8.99B | -19.17B | -701.60M | -1.91B |
| Financing Cash Flow | 2.81B | -5.44B | -15.24B | -123.85M | -19.68B | 610.01M |
Jindal Saw Limited Technical Analysis
Neutral
308.40
Price Trends
282.43
Negative
265.18
Positive
226.16
Positive
Market Momentum
-2.42
Positive
42.61
Neutral
16.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JINDALSAW, the sentiment is Neutral. The current price of 308.4 is above the 20-day moving average (MA) of 295.34, above the 50-day MA of 282.43, and above the 200-day MA of 226.16, indicating a neutral trend. The MACD of -2.42 indicates Positive momentum. The RSI at 42.61 is Neutral, neither overbought nor oversold. The STOCH value of 16.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:JINDALSAW.
Jindal Saw Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹96.53B | 13.41 | ― | 1.36% | -12.21% | -16.07% | |
68 Neutral | ₹747.74B | 31.02 | ― | 0.18% | 20.21% | 14.36% | |
68 Neutral | ₹177.56B | 27.12 | ― | 0.72% | -8.57% | -62.05% | |
66 Neutral | ₹48.00B | 15.46 | ― | 2.27% | 11.69% | 8.23% | |
65 Neutral | ₹72.00B | 33.16 | ― | 1.37% | 10.75% | 9.71% | |
65 Neutral | ₹198.65B | 44.13 | ― | 0.37% | -16.30% | -24.14% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:JINDALSAW
Jindal Saw Limited
278.10
75.62
37.34%
IN:MAHSEAMLES
Maharashtra Seamless Limited
738.05
154.14
26.40%
IN:MANINDS
Man Industries (India) Limited
906.05
540.10
147.59%
IN:RATNAMANI
Ratnamani Metals & Tubes Ltd.
2,721.70
322.17
13.43%
IN:SURYAROSNI
Surya Roshni Limited
220.90
-59.65
-21.26%
IN:WELCORP
Welspun Corp Limited
2,715.60
1,862.93
218.48%
Jindal Saw Limited Corporate Events
CARE Reaffirms Jindal Saw’s Top Short-Term Credit Rating on Rs 400 Crore CP
Sep 21, 2026
CARE Ratings Limited has reaffirmed Jindal Saw Limited’s highest short-term credit rating of CARE A1+ on commercial paper issuances aggregating Rs 400 crore, after reviewing the firm’s latest operational and financial performance. This...
Jindal Saw plans virtual investor meeting with ICICI Prudential MF
Jul 23, 2026
Jindal Saw Limited has announced that its officials will hold a virtual investor meeting with ICICI Prudential Mutual Fund on Tuesday, July 28, 2026, at 3:00 p.m. IST. The company stated that the discussion will be confined to publicly available i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.