Skip to content
JTL Industries logo

JTL Industries

JTLIND NSE
₹79.32 No trade today
P/E
26.44
View as Markdown
MCP
Close 4 Nov 2026 ₹79.32 +19.33 +32.2% 1Y
Start ₹59.99

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods

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

ROCE
9.61%
Debt to Equity
0.16
EPS (TTM)
₹3.00
Book Value
₹36.87
Market Cap
—
P/E (TTM)
26.44
P/B
2.15
ROE
7.31%
Dividend Yield
0.16%
EBITDA
₹167 Cr
52W High
₹94.00
52W Low
₹40.25
Volume
0

Peer Comparison

Industrials › Industrial Products › Iron & Steel Products

JTL 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
JTL Industries (this company)
₹79.3226.44₹2,952 Cr2.150.16%7.31%9.61%₹2,314 Cr₹121 Cr
Median 8 companies₹880.2829.40₹16,390 Cr3.920.39%13.85%18.05%₹10,869 Cr₹511 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

50 Average

Data confidence 100/100

Category scores

Quality
40
Weak
Returns, margins, earnings quality 22% weight
Valuation
45
Weak
Cheap vs sector & own history 24% weight
Growth
54
Average
Sales & profit trajectory 9% weight
Financial Health
69
Strong
Solvency, leverage, coverage 9% weight
Momentum
43
Weak
Trend strength, vol-adjusted 12% weight
Ownership
59
Good
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

1
  • Company is expected to give good quarter

Weaknesses

4
  • 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: -6.52%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish766
OscillatorsBearish261
Moving AveragesNeutral505

Key readings

RSI (14)
49.04
Neutral
MACD (12,26,9)
−2.57
Bullish
SMA (50)
84.23
Bearish
SMA (200)
73.24
Bullish

As of

Analyst Rating

Based on 2 analysts
BUY100%

2 of 2 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
2
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 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
5Y+37.46%
3Y+11.29%
1Y+11.49%
TTM+19.02%

Net profit

Net profit growth by window
5Y+38.79%
3Y+4.60%
1Y+4.04%
TTM+42.35%

Operating cash flow

Operating cash flow growth by window
5YOutflow widened by ₹62 Cr
3YTurned negative
1YOutflow narrowed by ₹179 Cr
TTM—

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

Operating margin· change in pp

Operating margin growth by window
5Y−0.38 pp
3Y−1.12 pp
1Y+0.79 pp
TTM+2.80 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2021₹435 Cr
Mar 2022₹1,355 Cr
Mar 2023₹1,549 Cr
Mar 2024₹2,040 Cr
Mar 2025₹1,915 Cr
Mar 2026₹2,135 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2021₹20.00 Cr
Mar 2022₹61.00 Cr
Mar 2023₹90.00 Cr
Mar 2024₹113 Cr
Mar 2025₹99.00 Cr
Mar 2026₹103 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹260 Cr +55.8% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

JTL Industries Ltd is a mid-cap industrials company with a market cap of Rs 3,355 crore, trading at a PE of 30.5x with TTM sales growth of 12% but profit growth of only 1%. The company has delivered strong long-term stock CAGR of 43% over 10 years but faces declining return on equity and rising debtor days.

Bull Case 7
  • Strong long-term wealth creation with 10-year stock CAGR of 43% and 5-year stock CAGR of 26%
  • Robust 5-year compounded sales growth of 37% indicating significant revenue scale-up
  • 5-year compounded profit growth of 37% demonstrates strong historical earnings trajectory
  • TTM revenue growth of 12% shows continued top-line momentum despite broader industrial slowdown
  • Price-to-book ratio of 2.12x is reasonable for an industrials company with demonstrated growth track record
  • 5-year ROE average of 14% indicates the business historically generated adequate returns on shareholder capital
  • 3-year compounded sales growth of 11% shows sustained demand for the company's products
Bear Case 8
  • ROE has declined sharply from 5-year average of 14% to just 7% in the last year, signaling deteriorating capital efficiency
  • Debtor days have increased from 52.9 to 70.8 days, indicating worsening working capital and potential collection issues
  • Promoter holding has decreased by 7% over the last 3 years, raising concerns about insider confidence
  • TTM profit growth of only 1% against 12% sales growth suggests significant margin compression
  • PE of 30.5x is elevated for a company delivering only 3% compounded profit growth over 3 years
  • 3-year stock CAGR of -3% indicates the stock has destroyed value for medium-term investors
  • Dividend payout of only 4.63% of profits over last 3 years with a yield of just 0.15% offers negligible income to shareholders
  • 3-year ROE of only 10% is below cost of equity for most industrial companies

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

AI News Digest

121d ago

TL;DR: JTL Industries is delivering strong operational momentum with 18% volume growth in Q1 FY27 and a 105% jump in Q4 FY26 net profit, supported by capacity expansion and government infrastructure orders. The ₹26.74 crore HPSCSC order reinforces its positioning in water infrastructure pipes. The key risk is market sentiment, as the stock fell despite positive fundamentals. The trend is improving on volume and profitability metrics, with government capex on water supply providing sustained demand visibility.

Headwinds 1
  • Stock fell 3.44% on order news Jun 10

    Despite winning the ₹26.74 crore GI pipes order and reporting strong Q4 results, JTL Industries stock declined 3.44% to ₹71.60 on BSE on June 10.

Positives 3
  • Q4 net profit surges 105% Jun 10

    Consolidated net profit jumped 104.69% to ₹34.41 crore in Q4 FY26, while revenue from operations increased 47.54% to ₹692.68 crore compared to Q4 FY25.

  • ₹26.74 cr GI pipes order won Jun 10

    JTL Industries secured a ₹26.74 crore order from HPSCSC for 3,425 MT of GI pipes to Jal Shakti Vibhag divisions in Himachal Pradesh, with a 60-day execution timeline.

  • Q1 FY27 volumes up 18% YoY Jul 02

    Q1 FY27 sales volume rose 18% YoY to 1,18,513 MT from 1,00,617 MT in Q1 FY26, supported by expanded Mangaon facility capacity and growing exports.

Neutral 1
  • Cumulative capacity at 9.36 lakh MTPA Jul 02

    JTL Industries operates pipe manufacturing facilities across Punjab, Maharashtra, Chhattisgarh, and Himachal Pradesh with cumulative capacity of approximately 9,36,000 MTPA.

Quarterly Results

₹ Cr
JTLIND quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
505
502
567
466
515
480
451
469
544
429
471
693
722
614
Expenses
469
465
525
429
476
450
416
452
520
395
432
635
663
563
Operating Profit
36
37
43
37
40
30
35
18
23
35
39
58
59
51
OPM %
7%
7%
7%
8%
8%
6%
8%
3.8%
4.3%
8%
8%
8%
8%
8%
Other Income
1
3
1
4
4
8
2
9
6
2
4
1
5
3
Interest
1
1
2
1
1
1
1
1
3
1
3
4
5
5
Depreciation
1
1
2
2
2
2
2
3
4
5
6
5
10
10
PBT
34
38
40
38
41
35
34
22
22
31
33
50
48
40
Tax %
25%
26%
25%
23%
25%
24%
26%
25%
24%
28%
20%
24%
27%
27%
Net Profit
25
28
30
30
31
26
25
17
17
22
26
38
35
29
EPS (₹)
0.75
0.82
0.88
0.86
0.89
0.69
0.65
0.44
0.43
0.56
0.69
0.9
0.85
—

Sep 2026: from the results filed on 2 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
JTLIND profit and loss, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
435
1,355
1,549
2,040
1,915
2,135
2,314
Expenses
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%
Other Income
5
4
4
8
22
13
12
Interest
9
8
6
5
5
11
14
Depreciation
2
3
4
6
9
21
26
PBT
27
82
123
150
132
135
162
Tax %
26%
26%
26%
25%
25%
24%
—
Net Profit
20
61
90
113
99
103
122
EPS (₹)
0.95
2.58
2.67
3.29
2.59
2.58
3
Div. Payout %
11%
0%
2%
4%
5%
5%
—

Balance Sheet

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

Cash Flow

₹ Cr
JTLIND cash flow, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−5
17
4
−22
−246
−67
Investing
−8
−34
−20
−96
−188
−142
Financing
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

JTLIND financial ratios, annual
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

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

Log in to view JTL Industries insights

68 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 49.26%
  • Public 32.99%
  • Others 11.72%
  • FIIs 5.98%
  • DIIs 0.05%

5.00% 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

Frequently Asked Questions about JTL Industries

What does JTL Industries Ltd do?
JTL Infra Ltd is an integrated manufacturer and supplier of steel tubes, pipes and allied products with manufacturing facilities in India.
Where is JTL Industries Ltd (JTLIND) listed?
JTL Industries Ltd trades as JTLIND on the NSE and under code 534600 on the BSE.
Which sector does JTL Industries Ltd belong to?
JTL Industries Ltd is classified under the Industrial Products sector, in the Iron & Steel Products industry.
What is the PE ratio of JTL Industries Ltd?
JTL Industries Ltd trades at a PE ratio of 26.44 as of 4 Nov 2026, on earnings per share of ₹3, against a book value of ₹36.87 per share.
What is the 52-week high and low of JTL Industries Ltd?
Over the last 52 weeks JTL Industries Ltd has traded between ₹40.25 and ₹94 as of 4 Nov 2026.
Does JTL Industries Ltd pay dividends?
JTL Industries Ltd has a dividend yield of 0.16%.
What is the Return on Equity (ROE) of JTL Industries Ltd?
JTL Industries Ltd reported a return on equity of 7.31%. Its debt-to-equity ratio is 0.16.

Company Information

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

Website jtl.one
CEO Mr. Madan Mohan Singla
Employees 738
Listed 12 Jun 2023
Face Value ₹1

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/JTLIND.md for JTL Industries Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Industrial Products stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month