JTL Industries Ltd

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JTL Industries Ltd

₹ 82.5 -7.00%
15 Sep - close price
jtl.one BSE: 534600 NSE: JTLIND
About

JTL Infra Ltd is an integrated manufacturer and supplier of steel tubes, pipes and allied products with manufacturing facilities in India.[1]

Key Points

Product Portfolio:[1][2][3]
a) Electric Resistance Welded (ERW) Pipes & Tubes:
JTL manufactures MS black pipes and various hollow sections (square, rectangular, round) used in construction, infrastructure, scaffolding, liquid transmission, and structural applications.
b) Hot-Dipped Galvanized Steel Tubes & Pipes:
Made from carbon steel with zinc coating up to 385 GSM, these pipes provide strong corrosion resistance and durability. Its key sectors include oil & gas, solar projects, water supply (like Jal Jeevan Mission), and construction.
c) Pre-Galvanized Steel Tubes & Pipes:
Produced from galvanized coils (min. 120 GSM coating), these tubes come in diverse shapes and sizes to meet various industry needs. JTL
is expanding its SKU range to diversify its offerings.
d) Large Diameter Steel Tubes:
Available in sizes up to 8 inches and
up to 350x350 mm via Direct Forming Technology (DFT), these tubes serve applications in heavy vehicles, core infrastructure, and large construction
projects.
e) Value-Added Products (VAP):
VAP includes special sections, high-
precision hollow sections, and custom
solutions for exports and infrastructure.
f) Solar Module Mounting Structures:
JTL offers steel mounting systems for solar panels, covering design, installation, and electrical integration.
f) Steel Tubular Poles & Lattice Towers:
The company produces durable, corrosion-resistant tubular poles for use in utilities,
lighting, and transport infrastructure. It
also manufactures lattice towers, targeting telecom and power transmission projects.
h) Road Crash Barriers:
JTL designs and installs highway safety
barriers built for high impact resistance,
fully compliant with government regulatory standards, supporting road safety infra
structure development.

Website BSE NSE
  • Market Cap ₹ 3,151 Cr.
  • Current Price ₹ 82.5
  • High / Low ₹ 94.0 / 40.2
  • Stock P/E 27.5
  • Book Value ₹ 38.9
  • Dividend Yield 0.15 %
  • ROCE 9.61 %
  • ROE 7.31 %
  • Face Value ₹ 1.00
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Pros

  • Company is expected to give good quarter

Cons

  • Company has a low return on equity of 10.4% over last 3 years.
  • Dividend payout has been low at 4.63% of profits over last 3 years
  • Debtor days have increased from 52.9 to 70.8 days.
  • Promoter holding has decreased over last 3 years: -6.94%

* 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 Industrial Products Iron & Steel Products

Part of BSE Industrials BSE 1000

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
505 502 567 466 516 480 452 469 544 429 471 693 722
469 465 525 429 476 450 416 452 520 395 432 635 663
Operating Profit 36 37 43 37 40 30 35 18 23 35 39 58 59
OPM % 7% 7% 7% 8% 8% 6% 8% 3.8% 4.3% 8% 8% 8% 8%
1 3 1 4 4 8 2 9 6 2 4 1 5
Interest 1 1 2 1 1 1 1 1 3 1 3 4 5
Depreciation 1 1 2 2 2 2 2 3 4 5 6 5 10
Profit before tax 34 38 40 38 41 35 34 22 22 31 33 50 48
Tax % 25% 26% 25% 23% 25% 24% 26% 25% 24% 28% 20% 24% 27%
25 28 30 30 31 26 25 17 17 22 26 38 35
EPS in Rs 0.75 0.82 0.88 0.86 0.89 0.69 0.65 0.44 0.43 0.56 0.69 0.90 0.85
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
435 1,355 1,549 2,040 1,915 2,135 2,314
403 1,265 1,419 1,887 1,792 1,981 2,124
Operating Profit 33 89 129 153 123 154 190
OPM % 8% 7% 8% 7% 6% 7% 8%
5 4 4 8 22 13 12
Interest 9 8 6 5 5 11 14
Depreciation 2 3 4 6 9 21 26
Profit before tax 27 82 123 150 132 135 162
Tax % 26% 26% 26% 25% 25% 24%
20 61 90 113 99 103 122
EPS in Rs 0.95 2.58 2.67 3.29 2.59 2.58 3.00
Dividend Payout % 11% 0% 2% 4% 5% 5%
Compounded Sales Growth
10 Years: %
5 Years: 37%
3 Years: 11%
TTM: 19%
Compounded Profit Growth
10 Years: %
5 Years: 38%
3 Years: 3%
TTM: 36%
Stock Price CAGR
10 Years: 39%
5 Years: 14%
3 Years: -9%
1 Year: 6%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 10%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 11 13 17 35 39 39
Reserves 86 184 390 739 1,179 1,447
63 94 107 20 76 244
49 47 50 49 45 266
Total Liabilities 209 339 563 843 1,339 1,996
28 49 65 111 218 501
CWIP 0 3 4 6 66 159
Investments 0 12 16 6 10 23
181 275 478 720 1,044 1,314
Total Assets 209 339 563 843 1,339 1,996

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-5 17 4 -22 -246 -67
-8 -34 -20 -96 -188 -142
12 17 66 169 407 170
Net Cash Flow -0 -0 50 51 -27 -40
Free Cash Flow -11 -5 -15 -125 -424 -213
CFO/OP -6% 49% 23% 13% -172% -32%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 80 30 33 34 53 71
Inventory Days 49 36 46 31 47 54
Days Payable 31 8 8 5 5 29
Cash Conversion Cycle 98 58 71 60 96 96
Working Capital Days 64 35 66 87 150 140
ROCE % 40% 32% 23% 13% 10%

Insights

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Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Installed Capacity
MTPA

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Sales Volume
MT
Number of Manufacturing Facilities
count
Export Volume
MT
Number of Distributors and Retailers
count
Number of Export Countries
count
Number of Product Configurations (SKUs)
count
Value-Added Products Sales Volume
MT

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

3 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
55.78% 56.00% 54.30% 54.24% 48.91% 48.91% 48.91% 48.91% 48.91% 49.26% 49.26% 49.26%
2.35% 1.62% 4.48% 5.82% 5.60% 5.00% 4.86% 4.44% 3.39% 3.34% 3.40% 4.84%
1.07% 0.83% 0.07% 0.30% 1.64% 2.22% 3.04% 3.36% 2.21% 0.02% 0.00% 0.14%
40.81% 41.55% 41.15% 39.65% 43.87% 43.88% 43.21% 43.28% 45.49% 47.37% 47.34% 45.75%
No. of Shareholders 25,43242,55072,46177,34382,67290,34185,30085,58486,03484,19082,50485,849

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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