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Jindal Steel Limited
(JINDALSTEL)
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Rating:56Neutral
Price Target:
₹1,152.00
▲(11.20% Upside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by weak cash-flow conversion (negative free cash flow in FY2026) and compressed profitability versus prior-cycle peaks, partially offset by improved leverage and a moderately positive technical setup. Valuation is a notable headwind due to the high P/E and low dividend yield.
Positive Factors
Improved leverage / balance sheet
Debt-to-equity materially improved to ~0.44 by FY2026, indicating stronger solvency and greater financial flexibility. A healthier capital structure lowers refinancing risk for a cyclical steel business and supports investments or cushioning through downturns over the next 2–6 months.
Negative Factors
Sharply negative free cash flow
Consistently weak free cash flow reduces internal funding for capex, dividends, and debt paydown, raising reliance on external financing. Persistent negative FCF can constrain strategic investments and increase liquidity risk across the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage / balance sheet
Debt-to-equity materially improved to ~0.44 by FY2026, indicating stronger solvency and greater financial flexibility. A healthier capital structure lowers refinancing risk for a cyclical steel business and supports investments or cushioning through downturns over the next 2–6 months.
Read all positive factors
Jindal Steel Limited (JINDALSTEL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.17T
Dividend Yield0.18%
Average Volume (3M)77.65K
Price to Earnings (P/E)42.6
Beta (1Y)1.21
Revenue Growth16.45%
EPS Growth-8.77%
CountryIN
Employees5,796
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)27.04
Shares Outstanding1,020,088,100
10 Day Avg. Volume22,367
30 Day Avg. Volume77,647
Financial Highlights & Ratios
PEG Ratio1.77
Price to Book (P/B)2.22
Price to Sales (P/S)2.13
P/FCF Ratio-25.81
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)57.36
Revenue Forecast (FY)₹688.70B
Jindal Steel Limited Business Overview & Revenue Model
Company Description
Jindal Steel & Power Limited (JSPL) is a prominent Indian conglomerate with extensive operations spanning the steel, power generation, mining, and infrastructure development sectors, both within India and internationally. The company's core busine...
How the Company Makes Money
Jindal Steel Limited primarily makes money by manufacturing and selling steel and related value-added steel products. Its main revenue stream is sales of finished steel products (e.g., flat steel such as hot-rolled/cold-rolled coils and plates, an...
Jindal Steel Limited Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
72
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 489.14B | 532.25B | 497.65B | 500.27B | 527.11B | 510.86B |
| Gross Profit | 253.97B | 235.38B | 258.06B | 277.45B | 280.30B | 303.28B |
| EBITDA | 82.32B | 91.01B | 81.82B | 100.96B | 97.27B | 171.47B |
| Net Income | 27.43B | 33.67B | 28.12B | 59.38B | 31.74B | 57.53B |
Balance Sheet | ||||||
| Total Assets | 917.37B | 977.62B | 858.39B | 787.15B | 694.27B | 766.44B |
| Cash, Cash Equivalents and Short-Term Investments | 46.82B | 62.49B | 58.85B | 44.60B | 51.67B | 38.71B |
| Total Debt | 191.56B | 226.10B | 184.06B | 164.72B | 130.46B | 135.02B |
| Total Liabilities | 413.51B | 459.21B | 384.20B | 339.65B | 304.08B | 395.48B |
| Stockholders Equity | 496.19B | 508.99B | 471.85B | 443.16B | 387.07B | 356.25B |
Cash Flow | ||||||
| Free Cash Flow | -15.74B | -43.85B | 2.17B | -25.09B | 8.27B | 131.03B |
| Operating Cash Flow | 33.52B | 51.89B | 108.24B | 60.08B | 72.76B | 160.48B |
| Investing Cash Flow | -46.19B | -108.80B | -123.23B | -83.44B | -40.90B | -23.31B |
| Financing Cash Flow | 3.87B | 49.64B | 8.09B | 13.81B | -25.00B | -151.20B |
Jindal Steel Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹199.43B | 31.01 | ― | 0.63% | -8.57% | -62.05% | |
66 Neutral | ₹769.31B | 17.77 | ― | 1.31% | 6.45% | 40.79% | |
64 Neutral | ₹645.36B | 19.32 | ― | 0.39% | 9.82% | 26.30% | |
61 Neutral | ₹3.20T | 12.84 | ― | 0.54% | 12.22% | 411.48% | |
61 Neutral | ₹2.35T | 21.08 | ― | 2.15% | 10.51% | 143.13% | |
56 Neutral | ₹1.17T | 42.57 | ― | 0.18% | 16.45% | -8.77% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:JINDALSTEL
Jindal Steel Limited
1,142.00
102.97
9.91%
IN:JINDALSAW
Jindal Saw Limited
317.60
116.95
58.28%
IN:JSL
Jindal Stainless Limited
762.35
6.31
0.83%
IN:JSWSTEEL
JSW Steel Limited
1,308.00
215.67
19.74%
IN:SAIL
Steel Authority of India Limited
184.00
52.25
39.66%
IN:TATASTEEL
Tata Steel Limited
185.95
19.97
12.03%
Jindal Steel Limited Corporate Events
Jindal Steel Publishes Q1 FY27 Unaudited Results in Newspapers
Jul 25, 2026
Jindal Steel Limited disclosed that it has published its unaudited financial results for the quarter ended June 30, 2026 in leading Hindi and English newspapers, Hari Bhoomi and Financial Express, in line with Securities and Exchange Board of Indi...
Jindal Steel posts earnings call audio to bolster investor transparency
Jul 25, 2026
Jindal Steel Limited, formerly known as Jindal Steel Power Limited, operates in the steel and power industry, supplying steel products to domestic and institutional markets. The company is listed on both BSE and NSE in India, reflecting its posit...
Jindal Steel to Engage Investors at JP Morgan Asia Credit Conference
May 31, 2026
Jindal Steel Limited has announced that its representatives will participate in the JP Morgan Asia Credit Conference on June 4, 2026, through group and one-on-one meetings held in Hong Kong, Singapore, and virtually. The company notes that this sc...
Jindal Steel Publishes Q4 and FY26 Earnings Call Transcript
May 6, 2026
Jindal Steel Limited has released the official transcript of its Q4 and FY26 earnings conference call held on May 2, 2026, with institutional investors and analysts. The company has submitted the transcript to stock exchanges and made it available...
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.