JTL Industries Limited (IN:JTLIND)
:JTLIND
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JTL Industries Limited
(JTLIND)
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Rating:59Neutral
Price Target:
₹78.00
▲(36.32% Upside)
Action:Reiterated
Date:05/13/26
The score is mainly held back by weak cash-flow conversion (negative operating and free cash flow), despite solid revenue scaling and a generally conservative balance sheet. Technicals are mildly supportive, but valuation is a clear headwind due to the high P/E and very low dividend yield.
Positive Factors
Revenue growth and scale
Sustained revenue scaling fivefold over the period demonstrates durable volume and market penetration in core steel-tube markets. Larger scale supports fixed-cost absorption and bargaining power with suppliers, improving long-term resilience and ability to fund incremental capacity or service larger customers.
Negative Factors
Weak cash generation
Persistent negative operating and free cash flow show reported profits are not converting to cash, raising structural liquidity and execution risk. Over months this constrains reinvestment, forces reliance on external funding, and limits the firm's ability to self-fund growth or absorb shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and scale
Sustained revenue scaling fivefold over the period demonstrates durable volume and market penetration in core steel-tube markets. Larger scale supports fixed-cost absorption and bargaining power with suppliers, improving long-term resilience and ability to fund incremental capacity or service larger customers.
Read all positive factors
JTL Industries Limited (JTLIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹27.65B
Dividend Yield0.21%
Average Volume (3M)97.59K
Price to Earnings (P/E)42.5
Beta (1Y)1.52
Revenue Growth8.46%
EPS Growth60.51%
CountryIN
Employees735
SectorConsumer Defensive
Sector Strength42
IndustrySteel
Share Statistics
EPS (TTM)2.04
Shares Outstanding393,081,630
10 Day Avg. Volume62,390
30 Day Avg. Volume97,586
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)3.87
Revenue Forecast (FY)₹32.41B
JTL Industries Limited Business Overview & Revenue Model
Company Description
JTL Industries Limited manufactures and sells steel pipes and tubes in India. The company offers galvanized, welded black, and electrogalvanized steel pipes and tubes for use in structural, mechanical, and general engineering purposes; ERW pipes f...
How the Company Makes Money
JTL Industries makes money primarily by manufacturing and selling steel tubes and pipes (typically welded/ERW products) and allied hollow-section steel products to customers across construction/infrastructure and industrial end-markets. Revenue is...
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 | 18.94B | 21.36B | 19.16B | 20.40B | 15.50B | 13.54B |
| Gross Profit | 2.35B | 2.51B | 1.97B | 2.42B | 1.64B | 1.22B |
| EBITDA | 1.30B | 1.54B | 1.45B | 1.60B | 1.32B | 920.83M |
| Net Income | 797.33M | 984.70M | 988.25M | 1.13B | 901.28M | 610.63M |
Balance Sheet | ||||||
| Total Assets | 15.39B | 19.96B | 13.39B | 8.43B | 5.63B | 3.39B |
| Cash, Cash Equivalents and Short-Term Investments | 164.23M | 445.10M | 773.03M | 1.01B | 531.41M | 2.58M |
| Total Debt | 1.66B | 2.44B | 761.74M | 200.05M | 1.07B | 943.13M |
| Total Liabilities | 2.74B | 4.75B | 1.20B | 687.33M | 1.56B | 1.42B |
| Stockholders Equity | 12.53B | 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
Positive
57.22
Price Trends
64.12
Positive
64.37
Positive
66.57
Positive
Market Momentum
0.19
Positive
49.57
Neutral
19.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JTLIND, the sentiment is Positive. The current price of 57.22 is below the 20-day moving average (MA) of 75.43, below the 50-day MA of 64.12, and below the 200-day MA of 66.57, indicating a neutral trend. The MACD of 0.19 indicates Positive momentum. The RSI at 49.57 is Neutral, neither overbought nor oversold. The STOCH value of 19.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:JTLIND.
JTL Industries Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹85.14B | 10.70 | ― | 1.82% | -11.28% | -9.81% | |
76 Outperform | ₹42.73B | 13.17 | ― | ― | 17.03% | 57.02% | |
70 Outperform | ₹140.72B | 20.93 | ― | 1.18% | -14.08% | -44.02% | |
65 Neutral | ₹522.09B | 37.95 | ― | 0.31% | 8.56% | 58.85% | |
65 Neutral | ₹178.50B | 31.98 | ― | 0.60% | -13.35% | -11.28% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | ₹27.65B | 42.50 | ― | 0.21% | 8.46% | 60.51% |
* Consumer Defensive Sector Average
IN:JTLIND
JTL Industries Limited
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-0.54%
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JTL Industries Limited Corporate Events
JTL Industries Posts Clean FY26 Results, Announces Dividend and Auditor Changes
May 11, 2026
JTL Industries Limited, a publicly listed industrial manufacturer, has disclosed its audited standalone and consolidated financial results for the quarter and full year ended 31 March 2026. The company operates under India’s securities regul...
JTL Industries Releases FY26 Audited Earnings Presentation
May 11, 2026
JTL Industries Limited has released an earnings presentation detailing its audited financial results for the fourth quarter and full financial year ended March 31, 2026. The presentation, shared with both BSE and NSE, is intended to provide invest...
JTL Industries Posts Record Quarterly and Annual Revenue in FY26
May 11, 2026
JTL Industries reported its strongest-ever performance in the quarter and financial year ended 31 March 2026, underscoring its growing scale in structural steel tubes. The company’s revenue base and profitability metrics highlight rising ope...
JTL Industries Posts Clean FY26 Audit, Recommends Dividend and Strengthens Audit Oversight
May 11, 2026
JTL Industries Limited’s board has approved the audited standalone and consolidated financial results for the quarter and financial year ended 31 March 2026, with the statutory auditors issuing an unmodified opinion, underscoring the company...
JTL Industries Wins ACRS Nod, Tightens Grip on Global Structural Steel Markets
May 4, 2026
JTL Industries has secured Product Conformity Certification from the Australasian Certification Authority for Reinforcing and Structural Steels for structural hollow sections produced at its Mangaon plant, becoming the only Indian company to obtai...
JTL Industries Subsidiary JTL Defence Gets BSE Trading Nod for Over 10.5 Million Shares
Apr 24, 2026
JTL Industries Limited has announced that its subsidiary, JTL Defence Limited (formerly RCI Industries Technologies Limited), has secured trading approval from BSE Limited for 10,526,315 equity shares with a face value of Rs. 10 each. These share...
JTL Industries Hits Record Sales Volumes in Q4 and FY26, Boosts Export Share
Apr 2, 2026
JTL Industries Limited reported record operating momentum in the March quarter, with its highest-ever quarterly sales volume of 123,262 metric tonnes in Q4 FY26, up 50.5% year-on-year and 36.3% sequentially on the back of strong demand and better ...
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.