JSL Industries Ltd
Incorporated in 1966, JSL Industries Ltd
does manufacturing of engineering goods
- Market Cap ₹ 106 Cr.
- Current Price ₹ 905
- High / Low ₹ 1,684 / 886
- Stock P/E 55.6
- Book Value ₹ 411
- Dividend Yield 0.00 %
- ROCE 17.6 %
- ROE 15.1 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- The company has delivered a poor sales growth of 1.84% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 52.67 | 54.97 | 47.73 | 44.48 | 47.34 | 54.78 | 48.45 | 49.13 | 54.92 | 48.51 | 50.74 | 53.08 | 52.63 | |
| 48.28 | 50.60 | 44.58 | 41.69 | 44.68 | 51.74 | 45.90 | 44.44 | 50.57 | 43.74 | 46.29 | 49.13 | 49.13 | |
| Operating Profit | 4.39 | 4.37 | 3.15 | 2.79 | 2.66 | 3.04 | 2.55 | 4.69 | 4.35 | 4.77 | 4.45 | 3.95 | 3.50 |
| OPM % | 8.33% | 7.95% | 6.60% | 6.27% | 5.62% | 5.55% | 5.26% | 9.55% | 7.92% | 9.83% | 8.77% | 7.44% | 6.65% |
| 0.38 | 0.82 | 0.19 | 0.32 | 0.24 | 0.26 | 0.61 | 0.53 | 0.98 | 2.40 | 5.45 | 5.40 | 1.06 | |
| Interest | 1.12 | 1.35 | 1.01 | 0.80 | 0.93 | 0.91 | 0.78 | 0.57 | 0.59 | 0.58 | 0.40 | 0.45 | 0.56 |
| Depreciation | 1.34 | 1.74 | 1.60 | 1.61 | 1.62 | 1.68 | 1.61 | 1.21 | 1.00 | 1.06 | 1.11 | 1.28 | 1.31 |
| Profit before tax | 2.31 | 2.10 | 0.73 | 0.70 | 0.35 | 0.71 | 0.77 | 3.44 | 3.74 | 5.53 | 8.39 | 7.62 | 2.69 |
| Tax % | 38.53% | 24.29% | 32.88% | 28.57% | 42.86% | 54.93% | 59.74% | 29.94% | 26.20% | 37.79% | 26.58% | 15.35% | |
| 1.42 | 1.59 | 0.50 | 0.51 | 0.20 | 0.32 | 0.31 | 2.40 | 2.76 | 3.44 | 6.16 | 6.45 | 1.91 | |
| EPS in Rs | 12.72 | 14.24 | 4.48 | 4.57 | 1.70 | 2.73 | 2.64 | 20.44 | 23.51 | 29.30 | 52.47 | 54.95 | 16.27 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.09% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 0% |
| 5 Years: | 2% |
| 3 Years: | -1% |
| TTM: | 0% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 83% |
| 3 Years: | 33% |
| TTM: | -77% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 52% |
| 3 Years: | 40% |
| 1 Year: | -40% |
| Return on Equity | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 13% |
| 3 Years: | 14% |
| Last Year: | 15% |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1.12 | 1.12 | 1.12 | 1.12 | 1.17 | 1.17 | 1.17 | 1.17 | 1.17 | 1.17 | 1.17 | 1.17 | 1.17 |
| Reserves | 22.65 | 24.16 | 26.01 | 25.33 | 27.17 | 23.41 | 23.62 | 25.95 | 28.71 | 32.19 | 38.34 | 44.77 | 47.13 |
| 7.05 | 5.71 | 6.39 | 6.96 | 8.74 | 3.62 | 4.75 | 3.80 | 2.87 | 2.55 | 3.35 | 2.69 | 1.93 | |
| 21.38 | 17.63 | 12.54 | 15.32 | 14.29 | 14.47 | 13.82 | 12.23 | 11.61 | 11.34 | 12.72 | 12.88 | 12.98 | |
| Total Liabilities | 52.20 | 48.62 | 46.06 | 48.73 | 51.37 | 42.67 | 43.36 | 43.15 | 44.36 | 47.25 | 55.58 | 61.51 | 63.21 |
| 18.12 | 16.91 | 17.68 | 17.48 | 17.61 | 16.67 | 15.36 | 14.77 | 15.59 | 15.78 | 16.31 | 15.83 | 16.31 | |
| CWIP | 2.14 | 0.61 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 7.17 | 7.17 | 7.17 | 7.17 | 7.14 | 6.67 | 5.77 | 5.77 | 0.27 | 1.66 | 5.61 | 8.74 | 10.08 |
| 24.77 | 23.93 | 21.21 | 24.08 | 26.62 | 19.33 | 22.23 | 22.61 | 28.50 | 29.81 | 33.66 | 36.94 | 36.82 | |
| Total Assets | 52.20 | 48.62 | 46.06 | 48.73 | 51.37 | 42.67 | 43.36 | 43.15 | 44.36 | 47.25 | 55.58 | 61.51 | 63.21 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3.62 | 0.98 | -0.11 | 0.90 | -1.72 | 4.99 | -2.27 | 1.24 | -4.72 | 0.73 | -2.06 | -0.16 | |
| -5.68 | 1.71 | -1.72 | -1.17 | -1.48 | -0.02 | 1.20 | -0.10 | 4.65 | -1.93 | -0.25 | 1.17 | |
| 0.17 | -1.34 | 2.13 | 0.29 | 3.19 | -4.88 | 0.97 | -0.61 | -0.46 | 1.20 | 2.31 | -1.02 | |
| Net Cash Flow | -1.89 | 1.36 | 0.30 | 0.01 | -0.01 | 0.09 | -0.10 | 0.54 | -0.53 | 0.01 | -0.01 | 0.00 |
| Free Cash Flow | 3.06 | 2.53 | -1.99 | -0.45 | -3.47 | 4.24 | -2.59 | 0.68 | -6.54 | -0.47 | -3.40 | -0.95 |
| CFO/OP | 100% | 38% | 6% | 44% | -61% | 178% | -76% | 47% | -84% | 27% | -21% | 24% |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 60.22 | 46.88 | 36.86 | 46.45 | 56.36 | 33.18 | 35.56 | 21.25 | 28.71 | 24.45 | 17.70 | 28.61 |
| Inventory Days | 78.47 | 89.44 | 93.91 | 130.17 | 135.08 | 87.49 | 84.35 | 129.89 | 95.15 | 136.61 | 134.06 | 150.48 |
| Days Payable | 108.81 | 108.02 | 112.10 | 141.19 | 122.08 | 84.38 | 100.36 | 86.72 | 37.57 | 49.55 | 51.62 | 40.54 |
| Cash Conversion Cycle | 29.89 | 28.30 | 18.67 | 35.43 | 69.37 | 36.29 | 19.55 | 64.41 | 86.29 | 111.52 | 100.14 | 138.55 |
| Working Capital Days | -38.18 | -5.98 | -11.47 | 11.49 | 47.88 | 38.18 | 58.54 | 76.89 | 108.13 | 131.60 | 162.00 | 184.01 |
| ROCE % | 11.40% | 9.09% | 5.49% | 4.06% | 3.60% | 4.93% | 5.40% | 13.03% | 13.57% | 17.83% | 22.17% | 17.60% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Division Net Sales: Instrument Transformer Division INR Crores |
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| Division Net Sales: Motors and Pumps Division INR Crores |
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| Division Net Sales: Switchgear Division INR Crores |
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| Green Power (Wind Mills) share in Total Power Requirement % |
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| Total Employees / Manpower Number |
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| Order Book / Pending Orders INR Lakhs |
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| 66 kV Instrument Transformers Supplied Units |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
1d - Reversal of disclosure of sale of 966 promoter shares; sale was not executed (request to disregard earlier filing).
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Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
2d - Promoter Saatyaki Amin sold 966 shares on-market 30/03/2026; holding 175,708 (14.97%), sale price Rs997.
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Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
30 Mar - Promoter Saatyaki Anant Amin sold 34 shares at Rs 960 each on 27-Mar-2026.
- Closure of Trading Window 25 Mar
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
14 Mar - Superintendent order (13/03/2026) upholds CESTAT remand; service-tax demand dropped for JSL Industries.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
from bse
Business Overview:[1]
Company started as a subsidiary company
to M/s. Jyoti Ltd., Vadodara to supply various engineering products and components. At present, it is a public limited company engaged in manufacturing LT Motors and Pumps, LT panels, LT Switchgear and Control gear products – Air Circuit Breakers, Contactors, Thermal overload Relay, Motor Starters, Cam Switches and HT Instrument Transformers. Company is the largest manufacturer of Oil Immersed starters in India and is also the largest supplier of 66 kV CTs to M/s. GETCO, Gujarat