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Jayaswal Neco Industries

JAYNECOIND NSE
₹91.64 +2.00 (+2.23%)
P/E
12.91
View as Markdown
MCP
Close 4 Nov 2026 ₹91.64 +18.73 +25.7% 1Y
Start ₹72.91

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods

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

ROCE
20.70%
Debt to Equity
0.45
EPS (TTM)
₹7.10
Book Value
₹34.15
Market Cap
—
P/E (TTM)
12.91
P/B
2.68
ROE
18.00%
Dividend Yield
0.00%
EBITDA
₹263 Cr
52W High
₹117.00
52W Low
₹64.40
Day Range
₹88.84 – ₹91.99
Volume
13,70,225

Peer Comparison

Industrials › Industrial Products › Iron & Steel Products

Jayaswal Neco Industries peer comparison
Welspun Corp
₹2,400.0027.41₹60,980 Cr5.960.22%19.40%22.90%₹17,300 Cr₹2,319 Cr
APL Apollo Tubes
₹2,199.8049.69₹60,246 Cr10.640.39%25.40%31.80%₹23,065 Cr₹1,229 Cr
Shyam Metalics & Energy
₹1,231.4030.60₹34,478 Cr2.780.15%9.70%13.00%₹19,584 Cr₹1,121 Cr
Ratnamani Metals & Tubes
₹2,449.4039.67₹17,025 Cr4.180.42%12.60%17.90%₹4,314 Cr₹514 Cr
Jindal SAW
₹253.2229.51₹15,754 Cr1.280.81%8.20%10.40%₹18,501 Cr₹498 Cr
Usha Martin
₹486.0029.21₹14,245 Cr4.490.81%15.10%19.50%₹3,837 Cr₹508 Cr
Gallantt Ispat
₹529.1529.28₹12,939 Cr3.660.38%15.60%18.20%₹4,437 Cr₹436 Cr
Jayaswal Neco Industries (this company)
₹91.6412.91₹8,720 Cr2.680.00%18.00%20.70%₹8,002 Cr₹689 Cr
Median 8 companies₹880.2829.40₹16,390 Cr3.920.39%15.35%18.85%₹12,651 Cr₹602 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

40 Weak

Data confidence 100/100

pledge:100%

Category scores

Quality
78
Strong
Returns, margins, earnings quality 22% weight
Valuation
75
Strong
Cheap vs sector & own history 24% weight
Growth
52
Average
Sales & profit trajectory 9% weight
Financial Health
22
Poor
Solvency, leverage, coverage 9% weight
Momentum
30
Poor
Trend strength, vol-adjusted 12% weight
Ownership
40
Weak
FII/DII/promoter flows 24% weight
Capped: a governance trigger overrides the fundamentals here (pledge>75% ≤ 40).

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

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company has delivered good profit growth of 23.2% CAGR over last 5 years
  • Company's working capital requirements have reduced from 56.4 days to 20.6 days

Weaknesses

4
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 11.3% over last 3 years.
  • Promoters have pledged 99.9% of their holding.
  • Company's cost of borrowing seems high

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish577
OscillatorsBearish270
Moving AveragesStrong Bullish307

Key readings

RSI (14)
49.96
Neutral
MACD (12,26,9)
−0.83
Bearish
SMA (50)
92.98
Bearish
SMA (200)
88.90
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 Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
10Y+10.38%
5Y+14.02%
3Y+4.01%
1Y+19.00%
TTM+18.34%

Net profit

Net profit growth by window
10YTurned to profit
5YTurned to profit
3Y+26.82%
1Y+309.73%
TTM+82.76%

Operating cash flow

Operating cash flow growth by window
10Y+10.63%
5Y+25.00%
3Y+22.76%
1Y−1.51%
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+10.00 pp
5Y+2.17 pp
3Y+6.34 pp
1Y+2.96 pp
TTM+0.56 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹2,509 Cr
Mar 2018₹3,466 Cr
Mar 2019₹4,199 Cr
Mar 2020₹3,611 Cr
Mar 2021₹3,676 Cr
Mar 2022₹5,911 Cr
Mar 2023₹6,297 Cr
Mar 2024₹5,887 Cr
Mar 2025₹5,954 Cr
Mar 2026₹7,085 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹459 Cr
Mar 2018−₹491 Cr
Mar 2019−₹444 Cr
Mar 2020−₹1,504 Cr
Mar 2021−₹558 Cr
Mar 2022₹2,247 Cr
Mar 2023₹227 Cr
Mar 2024₹210 Cr
Mar 2025₹113 Cr
Mar 2026₹463 Cr

AI Analysis — Bull vs Bear

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

Jayaswal Neco Industries Ltd is an industrial products company with a market cap of ₹8,482 Cr, trading at a PE of 15x and PB of 2.98x. The company has delivered strong profit growth of 23% CAGR over 5 years and 141% TTM profit growth, but carries significant governance risks with 99.9% promoter holding pledged and pays no dividend despite consistent profitability.

Bull Case 7
  • Strong profit growth with 23% CAGR over 5 years and an exceptional 141% TTM profit expansion indicating accelerating earnings momentum
  • Stock price CAGR of 65% over 1 year and 40% over 3 years reflects sustained re-rating driven by improving fundamentals
  • Company has actively reduced debt, strengthening balance sheet quality and reducing financial risk over time
  • Working capital efficiency improved significantly from 56.4 days to 20.5 days, freeing up cash flow for operations and growth
  • TTM sales growth of 22% indicates robust top-line momentum and improving demand for the company's industrial products
  • PE ratio of 15x is reasonable for a company delivering 23% profit CAGR, suggesting earnings growth has not been fully priced in
  • ROE improved to 18% in the last year from a 3-year average of 11%, showing improving capital efficiency and profitability trajectory
Bear Case 8
  • Promoters have pledged 99.9% of their holding, creating extreme governance risk and potential for forced selling in a market downturn
  • Zero dividend payout despite repeated profits raises concerns about capital allocation priorities and minority shareholder returns
  • 3-year average ROE of only 11.3% is below cost of equity for most industrial companies, indicating suboptimal long-term capital efficiency
  • High cost of borrowing suggests the company may face challenges in accessing cheaper capital, impacting net margins as rates fluctuate
  • 3-year compounded sales CAGR of only 4% versus 5-year CAGR of 14% suggests a period of revenue stagnation in recent years
  • 10-year sales CAGR of 10% is modest for an industrial company of this size, indicating limited structural growth advantages
  • PB ratio of 2.98x combined with inconsistent ROE history suggests the stock may be pricing in future improvement not yet sustained
  • Absence of key financial data points such as debt-to-equity ratio and EPS limits transparency for thorough fundamental analysis

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

AI News Digest

94d ago

TL;DR: Jayaswal Neco delivered a strong Q1FY26 with profit doubling and revenue growing nearly 28%, led by its Steel segment. No material headwinds surfaced, though a senior management departure in materials management bears watching. The earnings trend is clearly improving with robust top-line and bottom-line growth momentum.

Positives 1
  • Q1 profit surges 108% YoY Jul 17

    Jayaswal Neco reported Q1FY26 net profit of ₹19,392 lakh, up 108% YoY. Revenue rose 27.7% to ₹210,656 lakh driven by the Steel segment.

Neutral 1
  • President Materials Management resigns Jul 9

    Ravi Gudi's resignation as President (Materials Management) was accepted effective July 18, 2026, citing personal reasons.

Quarterly Results

₹ Cr
JAYNECOIND quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
1,501
1,556
1,411
1,438
1,230
1,657
1,675
1,649
1,781
1,727
1,974
2,107
2,194
Expenses
1,206
1,266
1,179
1,273
1,061
1,393
1,334
1,335
1,454
1,417
1,599
1,711
1,754
Operating Profit
296
290
233
165
170
264
342
315
327
310
376
396
440
OPM %
20%
19%
16%
11%
14%
16%
20%
19%
18%
18%
19%
19%
20%
Other Income
2
10
−15
5
2
3
3
5
4
−10
5
12
6
Interest
107
115
142
144
145
140
134
119
112
126
69
66
62
Depreciation
67
67
67
67
71
74
74
75
76
76
75
77
78
PBT
124
119
8
−41
−45
53
137
125
143
99
236
265
307
Tax %
26%
25%
75%
−23%
−24%
−46%
26%
26%
26%
25%
19%
27%
25%
Net Profit
92
89
2
−32
−34
77
102
93
105
74
191
194
230
EPS (₹)
0.94
0.91
0.02
−0.33
−0.35
0.79
1.05
0.96
1.08
0.76
1.97
2
2.37

Profit & Loss

₹ Cr
JAYNECOIND profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,020
2,638
2,509
3,466
4,199
3,611
3,676
5,911
6,297
5,887
5,954
7,085
8,002
Expenses
2,659
2,407
2,228
3,158
3,675
3,410
3,066
4,610
5,515
4,859
5,013
5,756
6,481
Operating Profit
360
231
281
308
524
200
610
1,301
782
1,028
941
1,329
1,522
OPM %
12%
9%
11%
9%
12%
6%
17%
22%
12%
17%
16%
19%
19%
Other Income
−74
−34
29
31
17
−560
6
1,730
−29
0
13
3
13
Interest
186
225
550
659
712
868
909
459
453
470
562
426
322
Depreciation
83
82
255
273
273
276
267
261
266
266
287
301
305
PBT
17
−109
−495
−592
−444
−1,504
−559
2,311
34
291
103
603
908
Tax %
89%
−20%
−7%
−17%
0%
0%
0%
3%
−565%
28%
−9%
23%
—
Net Profit
2
−87
−459
−491
−444
−1,504
−558
2,247
227
210
113
463
689
EPS (₹)
0.03
−1.36
−7.19
−7.69
−6.95
−23.56
−8.74
23.14
2.34
2.16
1.16
4.77
7.1
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
JAYNECOIND balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
639
639
639
639
639
639
639
971
971
971
971
971
971
Reserves
1,579
1,459
999
511
61
−1,445
−2,001
862
1,087
1,292
1,405
1,870
2,345
Borrowings
4,031
4,275
4,189
4,040
3,942
3,940
3,829
3,845
3,414
3,214
2,735
2,109
1,496
Other Liabilities
957
704
1,139
1,575
2,074
2,628
3,434
644
582
623
631
1,020
1,050
Total Liabilities
7,207
7,077
6,965
6,765
6,716
5,762
5,901
6,322
6,054
6,100
5,741
5,970
5,862
Fixed Assets
1,401
2,200
4,785
4,899
4,641
4,241
3,992
3,744
3,536
3,316
3,384
3,204
3,151
CWIP
3,137
2,847
457
494
493
82
82
95
94
219
127
117
84
Investments
15
1
1
1
0
0
0
0
0
0
0
2
2
Other Assets
2,653
2,029
1,722
1,372
1,582
1,439
1,827
2,483
2,423
2,565
2,230
2,646
2,626
Total Assets
7,207
7,077
6,965
6,765
6,716
5,762
5,901
6,322
6,054
6,100
5,741
5,970
5,862

Cash Flow

₹ Cr
JAYNECOIND cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
333
498
272
260
374
313
448
860
739
681
1,388
1,367
Investing
−515
−27
32
25
−71
−29
−17
−26
−57
−177
−236
−113
Financing
−10
−484
−292
−225
−372
−284
−150
−943
−792
−486
−1,086
−1,284
Net Cash Flow
−192
−13
12
59
−70
0
281
−109
−110
17
66
−30
Free Cash Flow
−189
432
281
254
358
282
430
830
675
499
1,144
1,251
CFO/EBITDA
96
215
98
83
72
156
72
66
94
68
148
104

Ratios

JAYNECOIND financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
38
43
60
59
42
36
33
28
27
26
25
24
Inventory Days
175
132
188
106
142
143
182
163
139
226
170
183
Days Payable
82
38
79
55
57
47
36
37
35
44
33
56
Cash Conversion Cycle
131
137
169
110
128
131
178
154
132
208
161
151
Working Capital Days
−25
−61
−148
−189
−191
−318
−396
59
−117
92
57
21
ROCE %
5%
3%
1%
1%
5%
−2%
12%
26%
10%
14%
13%
21%

Insights

Beta

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

Log in to view Jayaswal Neco Industries insights

64 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 55.15%
  • Public 21.82%
  • Others 21.30%
  • FIIs 0.97%
  • DIIs 0.76%

99.87% of promoter holding pledged as of Sep 2026

Change vs previous quarter

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

  • Q1 FY27 concall · Jul 2026
    PPT
  • Q4 FY26 concall · Apr 2026
    PPT
  • Q3 FY26 concall · Jan 2026
    PPT
  • Concall · Oct 2025
    PPT

Frequently Asked Questions about Jayaswal Neco Industries

What does Jayaswal Neco Industries Ltd do?
Jayaswal Neco Industries Limited (JNIL) is the flagship company of NECO Group of Industries. Started in 1976 as a small-scale Iron Foundry unit, Jayaswal Neco Industries Limited (Foundry Division) is now a producer of Iron & steel castings.
Where is Jayaswal Neco Industries Ltd (JAYNECOIND) listed?
Jayaswal Neco Industries Ltd trades as JAYNECOIND on the NSE and under code 522285 on the BSE.
Which sector does Jayaswal Neco Industries Ltd belong to?
Jayaswal Neco Industries Ltd is classified under the Industrial Products sector, in the Iron & Steel Products industry.
What is the PE ratio of Jayaswal Neco Industries Ltd?
Jayaswal Neco Industries Ltd trades at a PE ratio of 12.91 as of 4 Nov 2026, on earnings per share of ₹7.1, against a book value of ₹34.15 per share.
What is the 52-week high and low of Jayaswal Neco Industries Ltd?
Over the last 52 weeks Jayaswal Neco Industries Ltd has traded between ₹64.4 and ₹117 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Jayaswal Neco Industries Ltd?
Jayaswal Neco Industries Ltd reported a return on equity of 18.00%. Its debt-to-equity ratio is 0.45.

Company Information

Jayaswal Neco Industries Limited (JNIL) is the flagship company of NECO Group of Industries. Started in 1976 as a small-scale Iron Foundry unit, Jayaswal Neco Industries Limited (Foundry Division) is now a producer of Iron & steel castings. The Company is engaged in the manufacturing and supply of billets, rolled products, pig iron & skull, sponge iron, pellet, steel, and Iron & steel castings.

Website necoindia.com
CEO Mr. Arvind Kumar Jayaswal
Employees 4,197
Listed 10 May 1995
Face Value ₹10

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