Jindal Saw Ltd
Jindal Saw Ltd manufactures LSAW pipes, HSAW pipes, DI pipes, seamless pipes and pellets.[1]
- Market Cap ₹ 15,493 Cr.
- Current Price ₹ 242
- High / Low ₹ 260 / 153
- Stock P/E 15.9
- Book Value ₹ 197
- Dividend Yield 0.83 %
- ROCE 10.3 %
- ROE 8.12 %
- Face Value ₹ 1.00
Pros
Cons
- The company has delivered a poor sales growth of 10.9% over past five years.
- Tax rate seems low
- Company has a low return on equity of 13.9% over last 3 years.
- Dividend payout has been low at 9.37% of profits over last 3 years
- Working capital days have increased from 42.0 days to 66.1 days
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8,208 | 7,703 | 7,070 | 8,507 | 12,117 | 11,627 | 10,664 | 13,298 | 17,868 | 20,958 | 20,829 | 17,895 | |
| 7,254 | 6,979 | 6,393 | 7,466 | 10,645 | 10,116 | 9,422 | 11,899 | 16,192 | 17,631 | 17,375 | 15,680 | |
| Operating Profit | 954 | 723 | 677 | 1,041 | 1,472 | 1,511 | 1,242 | 1,399 | 1,676 | 3,326 | 3,454 | 2,215 |
| OPM % | 12% | 9% | 10% | 12% | 12% | 13% | 12% | 11% | 9% | 16% | 17% | 12% |
| 76 | 136 | 330 | 24 | 515 | -3 | 209 | 155 | 155 | 162 | 120 | 111 | |
| Interest | 606 | 679 | 569 | 579 | 615 | 620 | 493 | 460 | 642 | 705 | 623 | 620 |
| Depreciation | 335 | 328 | 337 | 363 | 396 | 422 | 459 | 473 | 470 | 568 | 602 | 630 |
| Profit before tax | 89 | -148 | 101 | 122 | 975 | 467 | 499 | 621 | 719 | 2,216 | 2,349 | 1,076 |
| Tax % | 131% | -46% | 62% | 109% | 22% | 1% | 34% | 40% | 37% | 28% | 38% | 14% |
| -27 | -80 | 39 | -11 | 764 | 461 | 328 | 376 | 452 | 1,593 | 1,458 | 925 | |
| EPS in Rs | -0.25 | -0.66 | 1.78 | 2.79 | 13.29 | 8.67 | 4.99 | 6.44 | 10.07 | 26.22 | 27.18 | 15.22 |
| Dividend Payout % | -200% | -76% | 28% | 22% | 8% | 12% | 20% | 16% | 15% | 8% | 7% | 13% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 11% |
| 3 Years: | 0% |
| TTM: | -14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 42% |
| 5 Years: | 25% |
| 3 Years: | 14% |
| TTM: | -44% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 29% |
| 5 Years: | 39% |
| 3 Years: | 46% |
| 1 Year: | 6% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 12% |
| 3 Years: | 14% |
| Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 58 | 61 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 |
| Reserves | 5,332 | 5,061 | 5,322 | 5,432 | 6,218 | 6,700 | 6,919 | 7,300 | 7,857 | 10,029 | 11,347 | 12,510 |
| 8,102 | 7,547 | 6,222 | 6,311 | 5,692 | 5,649 | 5,335 | 6,031 | 4,961 | 5,761 | 4,859 | 4,691 | |
| 2,507 | 1,676 | 1,248 | 1,389 | 2,807 | 2,669 | 3,497 | 3,048 | 5,001 | 4,824 | 4,395 | 4,421 | |
| Total Liabilities | 15,999 | 14,346 | 12,856 | 13,197 | 14,781 | 15,082 | 15,815 | 16,443 | 17,883 | 20,679 | 20,665 | 21,686 |
| 8,239 | 7,977 | 7,455 | 7,120 | 7,163 | 7,491 | 7,316 | 7,357 | 7,484 | 8,853 | 9,341 | 10,409 | |
| CWIP | 531 | 254 | 102 | 126 | 260 | 423 | 404 | 293 | 300 | 632 | 641 | 453 |
| Investments | 309 | 154 | 119 | 110 | 190 | 129 | 198 | 224 | 175 | 178 | 168 | 105 |
| 6,921 | 5,961 | 5,180 | 5,840 | 7,169 | 7,039 | 7,898 | 8,570 | 9,924 | 11,016 | 10,516 | 10,720 | |
| Total Assets | 15,999 | 14,346 | 12,856 | 13,197 | 14,781 | 15,082 | 15,815 | 16,443 | 17,883 | 20,679 | 20,665 | 21,686 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -183 | 917 | 1,163 | 565 | 1,567 | 1,665 | 1,570 | 73 | 1,616 | 2,593 | 2,335 | 1,771 | |
| -867 | -517 | -428 | -121 | -518 | -468 | -359 | -190 | -68 | -1,917 | -897 | -955 | |
| 1,253 | -512 | -816 | -470 | -977 | -1,168 | -831 | 61 | -1,966 | -12 | -1,524 | -1,073 | |
| Net Cash Flow | 203 | -112 | -81 | -25 | 72 | 28 | 379 | -55 | -419 | 663 | -86 | -257 |
| Free Cash Flow | -895 | 434 | 877 | 377 | 1,071 | 1,107 | 1,173 | -279 | 1,379 | 1,741 | 1,324 | 706 |
| CFO/OP | -9% | 137% | 188% | 61% | 118% | 122% | 134% | 16% | 106% | 87% | 85% | 92% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 91 | 83 | 71 | 83 | 67 | 59 | 73 | 50 | 73 | 60 | 62 | 63 |
| Inventory Days | 257 | 210 | 221 | 183 | 156 | 141 | 177 | 173 | 134 | 147 | 152 | 191 |
| Days Payable | 77 | 42 | 39 | 42 | 88 | 74 | 117 | 71 | 98 | 89 | 78 | 95 |
| Cash Conversion Cycle | 271 | 250 | 253 | 224 | 134 | 126 | 132 | 152 | 109 | 119 | 136 | 159 |
| Working Capital Days | 26 | 30 | 37 | 42 | 12 | -12 | -17 | -15 | 15 | 19 | 41 | 66 |
| ROCE % | 6% | 4% | 4% | 7% | 11% | 10% | 8% | 9% | 11% | 21% | 19% | 10% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Iron & Steel Pipes - Production Volume Metric Tonnes ・Standalone data |
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| Iron & Steel Pipes - Sales Volume Metric Tonnes ・Standalone data |
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| Pellets - Production Volume Metric Tonnes ・Standalone data |
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| Pellets - Sales Volume Metric Tonnes ・Standalone data |
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| Pellet Plant Capacity MTPA ・Standalone data |
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| UAE Operations - DI Pipes Sales Metric Tonnes |
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| Order Book - Iron & Steel Pipes USD Million ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 1d
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2d
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 30 Apr
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 29 Apr
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Clarification Letter
28 Apr - Corrects 27 April 2026 KSA LSAW plant date from 09.06.2026 to 09.06.2025.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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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
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
Concalls
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May 2026Transcript PPT
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Jan 2026Transcript PPT REC
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Oct 2025Transcript PPT REC
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Aug 2025Transcript PPT
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May 2025Transcript PPT
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Feb 2025Transcript PPT REC
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Oct 2024TranscriptPPTREC
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Aug 2024TranscriptPPTREC
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May 2024Transcript PPT REC
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Jan 2024Transcript PPT
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Oct 2023TranscriptPPTREC
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Aug 2023TranscriptPPT
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May 2023TranscriptPPT
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Feb 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Aug 2022TranscriptPPT
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Jan 2022TranscriptPPT
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Oct 2021TranscriptPPT
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Jul 2021TranscriptPPT
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May 2021TranscriptPPT
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Feb 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Aug 2020TranscriptPPT
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Feb 2020TranscriptPPT
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Oct 2019TranscriptPPT
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Aug 2019TranscriptPPT
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May 2019TranscriptPPT
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Jan 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
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May 2018TranscriptPPT
Market Leadership
The company is a global leader in the coated and bare pipe industry, with a strong track record of supplying a wide range of pipe products to major clients both in India and internationally. [1] It is the world's third-largest producer of rust-free iron pipes. [2]