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JTL Industries Limited
(JTLIND)
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Rating:65Neutral
Price Target:
₹80.00
▲(10.07% Upside)
Action:Reiterated
Date:08/29/26
The score is primarily held back by weak cash generation (negative operating and free cash flow across most years), despite strong revenue growth and a relatively conservative balance sheet. Technicals are constructive but look overextended, and valuation is supported by a moderate P/E and very high dividend yield.
Positive Factors
Revenue Scaling
JTL has expanded its revenue base substantially over several years, demonstrating stronger scale and continued demand for its steel tubes and pipes. The return to double-digit growth in 2026 supports ongoing market penetration and creates a broader base from which operating earnings can compound.
Negative Factors
Weak Cash Conversion
Persistent negative operating and free cash flow means reported profits are not consistently converting into internally generated funds. This can increase dependence on external financing for working capital or investment, reduce financial flexibility, and make earnings quality more vulnerable if operating conditions tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scaling
JTL has expanded its revenue base substantially over several years, demonstrating stronger scale and continued demand for its steel tubes and pipes. The return to double-digit growth in 2026 supports ongoing market penetration and creates a broader base from which operating earnings can compound.
Read all positive factors
JTL Industries Limited (JTLIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹29.68B
Dividend Yield0.17%
Average Volume (3M)288.21K
Price to Earnings (P/E)16.1
Beta (1Y)1.72
Revenue Growth16.02%
EPS Growth32.54%
CountryIN
Employees906
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)4.68
Shares Outstanding393,081,630
10 Day Avg. Volume176,174
30 Day Avg. Volume288,214
Financial Highlights & Ratios
PEG Ratio-0.67
Price to Book (P/B)2.82
Price to Sales (P/S)1.96
P/FCF Ratio-19.78
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)3.9
Revenue Forecast (FY)₹30.03B
JTL Industries Limited Business Overview & Revenue Model
Company Description
Headquartered in Chandigarh, India, JTL Industries Limited specializes in the manufacturing and supply of a comprehensive range of steel pipes and tubes. The company's product portfolio includes galvanized, welded black, and electrogalvanized stee...
How the Company Makes Money
JTL Industries primarily makes money by manufacturing and selling steel tubes and pipes. Its core revenue stream comes from the sale of finished tubular products (e.g., steel pipes/tubes used in construction, infrastructure, and industrial uses) t...
JTL Industries Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.14B | 21.36B | 19.16B | 20.40B | 15.50B | 13.54B |
| Gross Profit | 3.06B | 2.51B | 1.97B | 2.42B | 1.64B | 1.22B |
| EBITDA | 2.00B | 1.67B | 1.45B | 1.60B | 1.32B | 920.83M |
| Net Income | 1.15B | 984.70M | 988.25M | 1.13B | 901.28M | 610.63M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 19.96B | 13.39B | 8.43B | 5.63B | 3.39B |
| Cash, Cash Equivalents and Short-Term Investments | 445.10M | 445.10M | 773.03M | 1.01B | 531.41M | 2.58M |
| Total Debt | 0.00 | 2.44B | 761.74M | 200.05M | 1.07B | 943.13M |
| Total Liabilities | -15.22B | 4.75B | 1.20B | 687.33M | 1.56B | 1.42B |
| Stockholders Equity | 15.22B | 14.87B | 12.18B | 7.75B | 4.07B | 1.98B |
Cash Flow | ||||||
| Free Cash Flow | -1.40B | -2.12B | -4.14B | -1.25B | -149.47M | -45.15M |
| Operating Cash Flow | -803.22M | -657.35M | -2.36B | -221.26M | 39.70M | 170.86M |
| Investing Cash Flow | -846.45M | -1.34B | -2.02B | -955.89M | -199.28M | -343.31M |
| Financing Cash Flow | 930.60M | 1.60B | 4.11B | 1.69B | 657.85M | 170.41M |
JTL Industries Limited Technical Analysis
Negative
72.68
Price Trends
84.09
Negative
80.27
Negative
72.70
Positive
Market Momentum
-3.18
Positive
39.64
Neutral
20.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JTLIND, the sentiment is Negative. The current price of 72.68 is below the 20-day moving average (MA) of 81.40, below the 50-day MA of 84.09, and below the 200-day MA of 72.70, indicating a neutral trend. The MACD of -3.18 indicates Positive momentum. The RSI at 39.64 is Neutral, neither overbought nor oversold. The STOCH value of 20.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:JTLIND.
JTL Industries Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹72.93B | 9.90 | ― | 1.84% | -12.21% | -16.07% | |
70 Outperform | ₹610.81B | 46.68 | ― | 0.39% | 15.83% | 24.85% | |
67 Neutral | ₹152.14B | 27.63 | ― | 0.84% | -0.73% | -60.06% | |
65 Neutral | ₹29.68B | 16.14 | ― | 0.17% | 16.02% | 32.54% | |
65 Neutral | ₹60.18B | 29.33 | ― | 1.37% | 10.75% | 9.71% | |
65 Neutral | ₹163.22B | 37.69 | ― | 0.43% | -16.30% | -24.14% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:JTLIND
JTL Industries Limited
75.51
9.31
14.07%
IN:APLAPOLLO
APL Apollo Tubes Limited
2,199.85
415.12
23.26%
IN:JINDALSAW
Jindal Saw Limited
237.90
64.20
36.96%
IN:MAHSEAMLES
Maharashtra Seamless Limited
544.30
-15.33
-2.74%
IN:MANINDS
Man Industries (India) Limited
802.35
389.70
94.44%
IN:RATNAMANI
Ratnamani Metals & Tubes Ltd.
2,328.60
-88.35
-3.66%
JTL Industries Limited Corporate Events
JTL Industries files SEBI dematerialisation compliance certificate for Q2 FY27
Oct 7, 2026
JTL Industries Limited has submitted to the stock exchanges a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by its regi...
JTL Industries Schedules Investor Meetings at JM Financial Environmental & Energy Conclave
Sep 20, 2026
JTL Industries Limited has notified the stock exchanges that its management will participate in JM Financial’s Environmental Energy Conclave in Mumbai on Thursday, September 24, 2026, holding one-to-one and group meetings with analysts and ...
JTL Industries Plans Mumbai Non-Deal Roadshow With Institutional Investors
Sep 17, 2026
JTL Industries Limited has announced that it will host a non-deal roadshow with analysts and institutional investors in Mumbai on September 22, 2026, organized by Churchgate Partners as a mix of one-on-one and group interactions held in person. Th...
JTL Industries Subsidiary to Double Narrow-Width HR Coil Capacity with Rs. 15 Crore Capex
Aug 24, 2026
JTL Industries has announced that its subsidiary JTL Engineering Limited will invest about Rs. 15 crore to expand its narrow-width hot-rolled coil manufacturing capacity, doubling output from 5,000 MT to 10,000 MT per month. The upgraded facility,...
JTL Industries Schedules Mumbai One-on-One Investor Meetings
Aug 22, 2026
JTL Industries Limited has announced a scheduled investor meet in Mumbai, to be held on August 26–27, 2026, where Whole-time Director Pranav Singla will hold one-to-one, in-person meetings with investors. The company has clarified that the d...
JTL Industries to Join Nuvama India Conference 2026 in Singapore
Aug 6, 2026
JTL Industries Limited has announced that its management will participate in the Nuvama India Conference 2026 (Singapore Edition), organised by Nuvama Wealth Management Limited and scheduled to be held in Singapore on August 11 and 12, 2026. The c...
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.