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Jai Balaji Industries

JAIBALAJI NSE
₹69.19 No trade today
P/E
43.79
View as Markdown
MCP
Close 4 Nov 2026 ₹69.19 −19.30 −21.8% 1Y
Start ₹88.49

Key Fundamentals

MicrocapFerrous MetalsMetals & Mining

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
9.57%
Debt to Equity
0.18
EPS (TTM)
₹1.58
Book Value
₹24.75
Market Cap
—
P/E (TTM)
43.79
P/B
2.80
ROE
5.87%
Dividend Yield
0.00%
EBITDA
₹934 Cr
52W High
₹93.41
52W Low
₹53.65
Volume
0

Peer Comparison

Commodities › Metals & Mining › Iron & Steel

Jai Balaji Industries peer comparison
JSW Steel
₹1,343.0011.55₹3,24,536 Cr2.900.54%10.20%11.00%₹1,99,021 Cr₹31,708 Cr
Tata Steel
₹179.9320.38₹2,21,171 Cr2.232.27%11.70%12.50%₹2,39,756 Cr₹11,263 Cr
Jindal Steel
₹1,149.0043.11₹1,14,107 Cr2.240.18%8.22%9.70%₹56,413 Cr₹2,709 Cr
Steel Authority of India
₹170.4916.49₹69,475 Cr1.131.40%6.57%7.92%₹1,11,135 Cr₹4,272 Cr
Jindal Stainless
₹688.8017.48₹56,473 Cr2.670.59%17.70%19.30%₹44,026 Cr₹3,239 Cr
Sarda Energy & Minerals
₹441.2013.77₹15,290 Cr1.930.47%15.10%16.90%₹5,665 Cr₹1,151 Cr
NMDC Steel
₹39.49136.17₹11,356 Cr0.880.00%0.45%3.06%₹13,938 Cr₹84 Cr
Jai Balaji Industries (this company)
₹69.1943.79₹6,368 Cr2.800.00%5.87%9.57%₹6,110 Cr₹144 Cr
Median 8 companies₹310.5718.93₹62,974 Cr2.240.51%9.21%10.35%₹50,220 Cr₹2,974 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

43 Weak

Data confidence 98/100

pledge:31%

Category scores

Quality
61
Good
Returns, margins, earnings quality 22% weight
Valuation
41
Weak
Cheap vs sector & own history 24% weight
Growth
21
Poor
Sales & profit trajectory 9% weight
Financial Health
53
Average
Solvency, leverage, coverage 9% weight
Momentum
39
Weak
Trend strength, vol-adjusted 12% weight
Ownership
52
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company has reduced debt.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 31.5%

Weaknesses

2
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoters have pledged 31.1% of their holding.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish2710
OscillatorsNeutral171
Moving AveragesStrong Bullish109

Key readings

RSI (14)
55.77
Neutral
MACD (12,26,9)
0.17
Bullish
SMA (50)
66.63
Bullish
SMA (200)
67.76
Bullish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+16.91%
5Y+15.74%
3Y−1.89%
1Y−8.93%
TTM+2.00%

Net profit

Net profit growth by window
10YTurned to profit
5YTurned to profit
3Y+30.87%
1Y−76.70%
TTM−65.63%

Operating cash flow

Operating cash flow growth by window
10YTurned positive
5Y+20.15%
3Y+3.70%
1Y+15.11%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+18.58 pp
5Y+2.60 pp
3Y+0.66 pp
1Y−7.60 pp
TTM−5.28 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,564 Cr
Mar 2018₹2,389 Cr
Mar 2019₹3,077 Cr
Mar 2020₹2,912 Cr
Mar 2021₹2,785 Cr
Mar 2022₹4,644 Cr
Mar 2023₹6,125 Cr
Mar 2024₹6,414 Cr
Mar 2025₹6,351 Cr
Mar 2026₹5,784 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹236 Cr
Mar 2018−₹257 Cr
Mar 2019−₹154 Cr
Mar 2020−₹114 Cr
Mar 2021−₹76.00 Cr
Mar 2022₹48.00 Cr
Mar 2023₹58.00 Cr
Mar 2024₹880 Cr
Mar 2025₹558 Cr
Mar 2026₹130 Cr

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk high

Jai Balaji Industries is a Kolkata-based integrated steel and ferro alloy producer trading at a market cap of ₹5,382 Cr with a PE of 42.1x. The company delivered a strong 3-year ROE of ~32% but experienced a sharp TTM profit decline of ~76% and a 48% stock price correction over the past year, reflecting margin pressures in the metals sector and elevated promoter pledging at 31.1%.

Bull Case 8
  • Strong long-term wealth creation with 10-year stock CAGR of 36% and 5-year CAGR of 34%, indicating sustained business compounding over cycles
  • Healthy 3-year average ROE of ~32%, well above cost of equity for a metals company, demonstrating efficient capital deployment historically
  • Company has materially reduced debt, improving balance sheet resilience and interest coverage (reported at ~13.4x), reducing financial risk in a cyclical sector
  • 5-year compounded sales growth of 16% and 10-year sales CAGR of 17%, reflecting consistent top-line scaling across commodity cycles
  • 5-year compounded profit growth of 30%, indicating operating leverage and margin expansion during the upcycle phase
  • Diversification into value-added products like ductile iron pipes and specialized ferro alloys, which carry higher margins and reduce commodity cyclicality
  • Promoter holding at ~64.8% indicates strong skin-in-the-game and alignment with minority shareholders
  • Integrated operations spanning iron ore to finished steel products provide cost advantages and supply chain control in a fragmented industry
Bear Case 7
  • TTM net profit has declined ~76%, with Q1FY26 net profit at ₹70.55 Cr showing a 66% YoY decline, signaling severe margin compression
  • PE ratio of 42.1x is elevated for a metals/mining company where sector average is typically 8-15x, suggesting rich valuation relative to depressed earnings
  • Promoters have pledged 31.1% of their holding, creating risk of forced selling if stock price declines further or lenders invoke pledges
  • Stock has corrected 48% in the last 1 year, reflecting market's repricing of growth expectations and earnings deterioration
  • TTM sales growth is -9% and 3-year sales CAGR is -2%, indicating revenue stagnation or contraction in recent periods
  • Last year ROE collapsed to just 6% from a 3-year average of 32%, suggesting the high-return phase may have been cyclical rather than structural
  • Price-to-book of 2.42x is demanding for a capital-intensive metals business in a cyclical downturn with shrinking profitability

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

96d ago

TL;DR: Jai Balaji Industries faces a minor tax demand of Rs 12.89 Cr for the 2018-2024 block period, though the company considers it immaterial and intends to appeal. With limited recent news flow, there are no visible bullish catalysts or major risks beyond routine regulatory matters. The outlook remains neutral pending further operational or financial updates from the Metals & Mining player.

Headwinds 1
  • Tax demand of Rs 12.89 Cr Jul 1

    Jai Balaji Industries received an assessment order demanding Rs 12.89 crore for the block period 2018-2024. The company plans to appeal and believes there will be no material financial impact.

Quarterly Results

₹ Cr
JAIBALAJI quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,483
1,547
1,539
1,846
1,718
1,557
1,486
1,590
1,357
1,353
1,329
1,745
1,683
Expenses
1,277
1,333
1,292
1,605
1,403
1,328
1,296
1,457
1,230
1,281
1,274
1,653
1,531
Operating Profit
205
213
247
241
316
228
190
133
127
72
54
92
151
OPM %
14%
14%
16%
13%
18%
15%
13%
8%
9%
5%
4.1%
5%
9%
Other Income
8
28
23
156
10
22
18
19
16
13
8
0
3
Interest
21
19
15
18
16
15
15
17
18
15
16
18
14
Depreciation
21
21
21
23
22
22
23
26
31
31
32
32
32
PBT
170
202
235
357
287
213
170
108
95
40
15
42
109
Tax %
0%
0%
0%
23%
27%
28%
29%
30%
25%
33%
21%
50%
22%
Net Profit
170
202
235
273
209
153
120
75
71
26
12
21
85
EPS (₹)
2.19
2.51
2.92
3.34
2.35
1.68
1.32
0.83
0.77
0.29
0.13
0.23
0.93

Profit & Loss

₹ Cr
JAIBALAJI profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,478
1,213
1,564
2,389
3,077
2,912
2,785
4,644
6,125
6,414
6,351
5,784
6,110
Expenses
1,498
1,365
1,664
2,482
3,054
2,876
2,689
4,435
5,795
5,485
5,484
5,435
5,740
Operating Profit
−20
−152
−100
−93
24
36
96
209
330
929
867
350
370
OPM %
−1.4%
−13%
−6%
−3.9%
0.8%
1.2%
3.5%
4.5%
5%
14%
14%
6%
6%
Other Income
31
16
21
−22
36
49
10
29
−38
193
68
33
24
Interest
375
414
45
34
112
103
88
99
89
73
63
66
62
Depreciation
126
116
112
107
102
97
94
91
98
86
94
125
126
PBT
−490
−666
−236
−257
−154
−114
−76
48
105
963
778
192
206
Tax %
−21%
0%
0%
0%
0%
0%
0%
0%
45%
9%
28%
32%
—
Net Profit
−386
−666
−236
−257
−154
−114
−76
48
58
880
558
130
145
EPS (₹)
−10.47
−17.13
−5.47
−5.33
−3.19
−2.07
−1.37
0.87
0.79
10.75
6.12
1.42
1.58
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
JAIBALAJI balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
74
78
86
96
96
110
110
110
145
164
182
182
Reserves
−255
−916
−1,268
−1,523
−1,676
−1,768
−1,843
−1,773
411
1,340
1,942
2,075
Borrowings
2,981
3,415
3,492
3,510
3,638
3,464
3,434
3,169
860
473
559
417
Other Liabilities
1,175
1,229
1,097
1,154
1,145
1,173
1,306
1,463
1,543
1,378
1,207
1,403
Total Liabilities
3,974
3,805
3,407
3,238
3,204
2,979
3,006
2,969
2,960
3,354
3,891
4,077
Fixed Assets
1,700
1,588
1,486
1,409
1,324
1,238
1,181
1,165
1,132
1,382
1,614
1,573
CWIP
112
115
121
119
79
98
102
52
69
116
129
294
Investments
81
81
79
1
1
1
1
1
1
1
1
1
Other Assets
2,081
2,020
1,722
1,709
1,800
1,642
1,722
1,751
1,758
1,856
2,147
2,209
Total Assets
3,974
3,805
3,407
3,238
3,204
2,979
3,006
2,969
2,960
3,354
3,891
4,077

Cash Flow

₹ Cr
JAIBALAJI cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−62
−172
−104
66
40
291
143
463
321
839
311
358
Investing
32
4
25
−12
7
−37
−40
−124
−119
−398
−352
−242
Financing
43
157
76
−48
−48
−250
−89
−351
−192
−416
88
−209
Net Cash Flow
13
−11
−2
5
0
4
15
−12
10
24
47
−93
Free Cash Flow
−68
−186
−101
34
48
254
102
336
229
459
−43
115
CFO/EBITDA
309
114
103
−69
174
816
149
223
99
90
36
102

Ratios

JAIBALAJI financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
188
220
114
61
47
36
32
12
14
14
25
21
Inventory Days
154
167
120
94
75
94
123
83
70
84
112
125
Days Payable
276
269
161
123
102
112
132
90
76
77
64
73
Cash Conversion Cycle
66
118
72
32
20
17
23
6
7
21
73
74
Working Capital Days
−136
−240
−750
−503
−211
−345
−378
−218
−25
−5
17
22
ROCE %
−4%
−9%
−8%
−8%
−2%
0%
1%
9%
18%
62%
36%
10%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Jai Balaji Industries insights

64 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 64.84%
  • Others 21.99%
  • Public 10.29%
  • FIIs 2.77%
  • DIIs 0.11%

31.09% of promoter holding pledged as of Sep 2026

Change since Jun 2026

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Jai Balaji Industries

What does Jai Balaji Industries Ltd do?
Incorporated in 1999, Jai Balaji Industries Limited is engaged in the manufacturing of Iron and Steel products
Where is Jai Balaji Industries Ltd (JAIBALAJI) listed?
Jai Balaji Industries Ltd trades as JAIBALAJI on the NSE and under code 532976 on the BSE.
Which sector does Jai Balaji Industries Ltd belong to?
Jai Balaji Industries Ltd is classified under the Metals & Mining sector, in the Iron & Steel industry.
What is the PE ratio of Jai Balaji Industries Ltd?
Jai Balaji Industries Ltd trades at a PE ratio of 43.79 as of 4 Nov 2026, on earnings per share of ₹1.58, against a book value of ₹24.75 per share.
What is the 52-week high and low of Jai Balaji Industries Ltd?
Over the last 52 weeks Jai Balaji Industries Ltd has traded between ₹53.65 and ₹93.41 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Jai Balaji Industries Ltd?
Jai Balaji Industries Ltd reported a return on equity of 5.87%. Its debt-to-equity ratio is 0.18.

Company Information

Incorporated in 1999, Jai Balaji Industries Limited is engaged in the manufacturing of Iron and Steel products

Website jaibalajigroup.com
CEO Mr. Aditya Jajodia
Employees 4,570
Listed 9 Dec 2003
Face Value ₹2

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