JTL Industries logo

JTL Industries

JTLIND NSE

Key Fundamentals

MicrocapIron & Steel ProductsIndustrial Products
Market Cap
₹3,402 Cr
Volatility
Moderate
P/E Ratio
29.56
EBITDA
₹167 Cr
Return on Equity
6.77%
Debt to Equity
0.16
Book Value
₹35.36
EPS
₹6.37
52W High
₹94
52W Low
₹40.25

Tapetide Score

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

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: -6.94%

Growth Rate

Revenue Growth
10.85% lower than 3Y
Net Income Growth
4.35% higher than 3Y
Cash Flow Change
72.58% higher than 3Y
ROE
-16.52% lower than 3Y
ROCE
-17.48% higher than 3Y
EBITDA Margin (Avg.)
3.6% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
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

Anthropic anthropic claude-opus-4.6 69d ago
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.

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.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
505
502
567
466
516
480
452
469
544
429
471
693
722
Expenses
469
465
525
429
476
450
416
452
520
395
432
635
663
Operating Profit
36
37
43
37
40
30
35
18
23
35
39
58
59
OPM %
7%
7%
7%
8%
8%
6%
8%
3.8%
4.3%
8%
8%
8%
8%
Other Income
1
3
1
4
4
8
2
9
6
2
4
1
5
Interest
1
1
2
1
1
1
1
1
3
1
3
4
5
Depreciation
1
1
2
2
2
2
2
3
4
5
6
5
10
PBT
34
38
40
38
41
35
34
22
22
31
33
50
48
Tax %
25%
26%
25%
23%
25%
24%
26%
25%
24%
28%
20%
24%
27%
Net Profit
25
28
30
30
31
26
25
17
17
22
26
38
35
EPS in Rs
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
Figures in ₹ Crores

Profit & Loss

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 in Rs
0.95
2.58
2.67
3.29
2.59
2.58
3
Div. Payout %
11%
0%
2%
4%
5%
5%
—
Figures in ₹ Crores

Balance Sheet

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
Figures in ₹ Crores

Cash Flow

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
Figures in ₹ Crores

Ratios

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

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63 extracted metrics + investor summaries across FY11–FY27.

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Shareholding Pattern

DIIs0.14%Promot.49.26%FIIs4.84%Others12.82%Public32.94%As ofJun 2026
5.00% of promoter holding pledged as of Jun 2026

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.[1]
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 market capitalisation of JTL Industries Ltd?
JTL Industries Ltd has a market capitalisation of ₹3,402 Cr, which places it in the Small Cap band.
What is the PE ratio of JTL Industries Ltd?
JTL Industries Ltd trades at a PE ratio of 29.56, on earnings per share of ₹6.37, against a book value of ₹35.36 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.
Does JTL Industries Ltd pay dividends?
JTL Industries Ltd has a dividend yield of 0.13%.
What is the Return on Equity (ROE) of JTL Industries Ltd?
JTL Industries Ltd reported a return on equity of 6.77%. 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.[1]

Website jtl.one
CEO Mr. Madan Mohan Singla
Employees 738
Listed 2023-06-12
Face Value ₹ 1
Issued Size 39,30,81,630

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