JTLINDIndustrials

JTL INDUSTRIES LIMITED

Iron & Steel Products · ISIN INE391J01032 · BSE 534600 · NSE EQ · FV ₹1
Last price
₹87
+3.22%today
What this company does

JTL INDUSTRIES LIMITED operates in Iron & Steel Products, part of the Industrials sector. It booked ₹722 cr of revenue in its latest quarter (Q1 FY27) and kept 4.5% of sales as profit.

Shaping the Future. Delivering Solutions. JTL Industries Limited (hereafter referred to as ‘JTL’ or ‘The Company’) is amongst the leading building material solutions company, focussed on delivering high-quality, value- added steel pipes and tubes across diverse end-user sectors.
In the report:
44out of 100
Equitytale Health Score
Strained

Healthier than 44% of companies in Industrials, on the 5 of 6 measures we could read for it. Each measure is ranked against the 51–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
55

At close. Not part of the score.

Profitability & returns47

How much profit it earns on the money it employs

Balance sheet70

How much it owes, and whether earnings cover the interest

Cash quality9

Whether reported profit actually arrives as cash

Valuation10

What today's price implies, against our models or its peers

Governance & risk83

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 33% vs last year
Profit up 97% vs last year
Promoters hold 49%
Watch-outs
! Thin 4.5% net margin
! 5.0% of promoter stake pledged
! Operating cash flow is negative

What if I invest in JTLIND?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹87 +3.22%
latest close · 2026-09-17
52-wk low ₹7042 sessions so far52-wk high ₹94
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio24.3Average
LowAverageHigh
P/B ratio2.31Moderate
Below bookModerateHigh
EV / EBITDA14.4Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.8%Fair
WeakFairStrong ▸15%
Return on capital13.4%Fair
WeakFairStrong
Net margin4.5%Thin
ThinDecentStrong
EBITDA margin8.8%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.16Comfortable
LowModerateHigh ▸1
Interest cover10.1×Strong
RiskyOkayStrong ▸5×
Current ratio3.22Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹3,432 cr
Book value
₹38
EPS
₹0.90
latest quarter
Net debt
₹209 cr
owes more than its cash
Enterprise value
₹3,642 cr
EBITDA
₹254 cr
annualised
EBIT
₹215 cr
annualised
Operating margin
7.4%
Return on assets
6.5%
Earnings yield
4.12%
P/S
1.19
Sales / share
₹73.4
Tax rate
27.0%
Face value
₹1
Shares
39.3 cr
Working capital
₹866 cr
Current assets
₹1,255 cr
Current liabilities
₹390 cr
Delivery %
37.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹38 vs market price ₹87 — price is 131% above it
Safety cushion-131.1%(target ≥ +20%)
Models span ₹22₹54, midpoint ₹38
Model ₹38
Price ₹87
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹722 cr
Other Income₹5 cr
Total Income₹726 cr
Cost of Materials₹601 cr
Purchases of Stock-in-Trade₹16 cr
Inventory Change (±)₹-2 cr
Employee Benefit Expense₹11 cr
Finance Costs₹5 cr
Depreciation & Amortisation₹10 cr
Other Expenses₹37 cr
Total Expenses₹678 cr
Profit before Tax₹48 cr
Tax Expense₹13 cr
Share of JV / Associates₹5.5 L
Net Profit₹35 cr
Net margin on total income4.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹615 cr84.7%
Employee benefit expense₹11 cr1.5%
Finance costs₹5 cr0.7%
Depreciation & amortisation₹10 cr1.3%
Other expenses₹37 cr5.0%
Tax expense₹13 cr1.8%
Profit for the period₹35 cr4.9%
Total income ₹726 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue471 cr693 cr722 cr
Total income474 cr694 cr726 cr
Expenses441 cr644 cr678 cr
Profit before tax33 cr50 cr48 cr
Tax7 cr12 cr13 cr
Net profit (owners' share)26 cr34 cr33 cr
Net margin (owners' share, on revenue)5.6%5.0%4.5%
EPS (₹)0.670.960.90
YoY (latest quarter): total income +32.2% · net profit +96.7%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1,996 cr
Shareholder equity
₹1,487 cr
parent shareholders
Total debt
₹244 cr
Cash
₹35 cr
Cash flow · H1 FY26
Operating
₹-80 cr
Investing
₹-85 cr
Financing
₹93 cr
Peer comparison
Iron & Steel Products · by market value
CompanyPriceMarket capP/E
Welspun Corp Limited₹2,460₹64,903 cr15.5
APL Apollo Tubes Limited₹2,149₹59,664 cr56.7
Shyam Metalics and Energy Limited₹1,077₹29,982 cr21.4
Ratnamani Metals & Tubes Limited₹2,703₹18,943 cr57.6
Jindal Saw Limited₹291₹18,622 cr44.7
Usha Martin Limited₹496₹15,122 cr26.6
Godawari Power And Ispat limited₹238₹14,709 cr16.6
Gallantt Ispat Limited₹538₹12,974 cr26.2
Maharashtra Seamless Limited₹720₹9,651 cr9.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.14%
trailing 12 months
Dividend / share (TTM)
₹0.13
Last dividend
₹0.13
ex 11 Sep 2026
ActionDetailEx-date
Dividend₹0.13 / share11 Sep 2026
Dividend₹0.13 / share12 Sep 2025
Stock splitStock Split From Rs.2/- to Rs.1/-14 Nov 2024
Dividend₹0.25 / share30 Aug 2024
Bonus issue1:17 Sep 2023
Dividend₹0.2 / share4 Aug 2023
Who owns it · 2026-06-30
5.0% pledged
Promoter
49.3%
FII / Foreign
4.8%
DII / Domestic
0.1%
Retail / others
45.8%
Promoter stake down 5.0% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtPRANAV SINGLA · -9.14 L · ₹18.3 cr7 Dec 23
BoughtNIKITA SINGLA · Promoter Group1.13 cr27 Sep 23
SoldVIJAY SINGLA · Promoter Group1.13 cr27 Sep 23
Bulk / block deals
short · NSE428 Aug 26
short · NSE124 Aug 26
short · NSE509 Jul 26
Stake changes
BoughtMr. Pranav Singla · promoter→ 3.61% · 87.93 L10 Dec 25
SoldMr. Vijay Singla · promoter→ 0.00% · 87.93 L10 Dec 25
BoughtMr. Vijay Singla · promoter→ 2.24% · 87.93 L1 Dec 25
What shareholders were asked to approve
2 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 23 Sep 2025
See the official result
1
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
2.03 cr votes for, 13,322 against · 0% of mutual funds and other big investors said no
2
To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 together with the Reports of the Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
2.03 cr votes for, 13,322 against · 0% of mutual funds and other big investors said no
3
To declare the Final Dividend of Rs. 0.125/- (i.e. @12.5%) per equity share of face value of Re. 1/- each to the “Public Category” shareholders only, for the FY 2024-25
Backed by 100% of shareholders other than promotersneeded 50%
2.03 cr votes for, 20,605 against · 0% of mutual funds and other big investors said no
4
To appoint a Director in place of Mr. Madan Mohan (DIN: 00156668), who retires by rotation and being eligible offers himself for re-appointment
Backed by 98% of shareholders other than promotersneeded 50%
1.99 cr votes for, 4.71 L against · 0% of mutual funds and other big investors said no
11
Approval for JTL Industries Employee Stock Option Scheme – 2025
⚑ Passed only because promoters voted yes
Backed by 59% of shareholders other than promotersneeded 75%
1.21 cr votes for, 82.48 L against · 100% of mutual funds and other big investors said no
12
Approval for grant of options to employees of Subsidiary Company(ies), in India or outside India, of the Company under JTL Industries Employee Stock Option Scheme – 2025
⚑ Passed only because promoters voted yes
Backed by 59% of shareholders other than promotersneeded 75%
1.21 cr votes for, 82.55 L against · 100% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 18 named members
owning 49.3% between them · as of 2026-06-30
Nikita Singla13.35%
Madan Mohan13.28%
Rakesh Garg (HUF)7.78%
Rakesh Garg6.69%
Pranav Singla3.61%
Dhruv Singla2.41%
Madan Mohan (HUF)0.75%
Prem Kumar and Sons HUF0.38%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

Money raised in Aug 2025 by selling shares to selected investors

As of Sep 2025, the company says it has spent 100% of what it set aside. CARE Ratings Limited watches the spending on the exchange’s behalf.

Investment in Mega Project, Capital Expenditure towards development, refurbishment and renovation of Assets, either through wholly owned subsidiaries/subsidiaries/associates; Working Capital Requirements; General Corporate Purposes, including financing of Business Opportunities (either organic or inorganic), and any other cost incurred towards the objects of the Company, brand building, acquisition of Offices, Retail Spaces and Warehouses etc. to expand the Company’s distribution network pan- India and strengthen the business operations; Issue Related Expenses
100%
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

Money raised in Jun 2025 by selling shares to selected investors

The company has not broken this money down into purposes in its filing for Jun 2025, so there is nothing to measure it against yet. CARE Ratings Limited watches the spending on the exchange’s behalf.

Investment in Mega Project, Capital Expenditure towards development, refurbishment and renovation of Assets, either through wholly owned subsidiaries/subsidiaries/associates; Working Capital Requirements; General Corporate Purposes, including financing of Business Opportunities (either organic or inorganic), and any other cost incurred towards the objects of the Company, brand building, acquisition of Offices, Retail Spaces and Warehouses etc. to expand the Company’s distribution network pan- India and strengthen the business operations; Issue Related Expenses
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.