Jindal Saw (JINDALSAW) | Financial Analysis & Statements
Jindal Saw Ltd. Mid-cap Basic Materials
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
49.4B
Gross Profit
20.3B
41.10%
Operating Income
4.6B
9.26%
Net Income
2.5B
5.01%
EPS (Diluted)
₹4.04
Balance Sheet Metrics
Total Assets
207.8B
Total Liabilities
98.2B
Shareholders Equity
109.5B
Debt to Equity
0.90
Cash Flow Metrics
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Jindal Saw Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 200.4B | 200.9B | 170.9B | 126.9B | 102.7B |
| Cost of Goods Sold | 139.7B | 134.5B | 123.5B | 89.5B | 68.4B |
| Gross Profit | 60.7B | 66.4B | 47.5B | 37.4B | 34.4B |
| Gross Margin % | 30.3% | 33.0% | 27.8% | 29.5% | 33.5% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 17.0B | 1.6B | 1.6B | 1.4B | 2.4B |
| Other Operating Expenses | 1.5B | 26.1B | 25.3B | 18.1B | 14.8B |
| Total Operating Expenses | 18.5B | 27.8B | 26.9B | 19.5B | 17.2B |
| Operating Income | 27.8B | 25.9B | 11.3B | 8.7B | 7.2B |
| Operating Margin % | 13.9% | 12.9% | 6.6% | 6.9% | 7.0% |
| Non-Operating Items | |||||
| Interest Income | 999.2M | 1.2B | 1.2B | 1.3B | 1.3B |
| Interest Expense | 4.7B | 5.7B | 4.7B | 3.7B | 3.9B |
| Other Non-Operating Income | - | - | - | - | - |
| Pre-tax Income | 23.5B | 22.2B | 7.2B | 6.2B | 5.0B |
| Income Tax | 8.9B | 6.2B | 2.7B | 2.5B | 1.7B |
| Effective Tax Rate % | 37.9% | 28.1% | 37.2% | 39.5% | 34.4% |
| Net Income | 14.6B | 15.9B | 4.5B | 3.8B | 3.3B |
| Net Margin % | 7.3% | 7.9% | 2.6% | 3.0% | 3.2% |
| Key Metrics | |||||
| EBITDA | 34.2B | 33.4B | 16.7B | 14.4B | 13.2B |
| EPS (Basic) | ₹27.31 | ₹26.38 | ₹10.14 | ₹6.48 | ₹5.01 |
| EPS (Diluted) | ₹27.22 | ₹26.34 | ₹10.14 | ₹6.48 | ₹5.01 |
| Basic Shares Outstanding | 636611018 | 635816660 | 635344366 | 635555774 | 636168194 |
| Diluted Shares Outstanding | 636611018 | 635816660 | 635344366 | 635555774 | 636168194 |
Income Statement Trend
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Jindal Saw Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 6.6B | 7.4B | 755.4M | 5.0B | 5.5B |
| Short-term Investments | 25.0M | 67.0M | 1.5B | 146.5M | 693.5M |
| Accounts Receivable | 35.6B | 34.7B | 35.6B | 18.1B | 21.3B |
| Inventory | 49.2B | 49.0B | 41.0B | 37.6B | 29.2B |
| Other Current Assets | 6.4B | 8.3B | 7.3B | 7.5B | 6.7B |
| Total Current Assets | 101.1B | 103.0B | 89.0B | 72.7B | 67.2B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 485.7M | 519.1M | 519.1M | 630.6M | 630.6M |
| Goodwill | 1.3B | 1.3B | 1.3B | 99.6M | 107.7M |
| Intangible Assets | 46.4M | 61.3M | 79.3M | 99.6M | 107.7M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 553.3M | 450.6M | 479.9M | 2.0B | 204.6M |
| Total Non-Current Assets | 106.7B | 107.2B | 93.4B | 95.8B | 95.1B |
| Total Assets | 207.8B | 210.2B | 182.4B | 168.5B | 162.3B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 25.2B | 29.5B | 30.0B | 15.4B | 19.4B |
| Short-term Debt | 30.8B | 34.9B | 29.7B | 39.8B | 28.0B |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 5.1B | 9.2B | 8.7B | 8.6B | 8.6B |
| Total Current Liabilities | 69.8B | 83.3B | 79.7B | 71.4B | 64.2B |
| Non-Current Liabilities | |||||
| Long-term Debt | 17.5B | 22.4B | 19.6B | 20.5B | 25.3B |
| Deferred Tax Liabilities | 9.1B | 9.0B | 6.8B | 6.3B | 5.3B |
| Other Non-Current Liabilities | 962.1M | 919.4M | 2.5B | 968.2M | 1.0B |
| Total Non-Current Liabilities | 28.4B | 33.3B | 29.9B | 28.6B | 32.6B |
| Total Liabilities | 98.2B | 116.5B | 109.6B | 100.0B | 96.9B |
| Equity | |||||
| Common Stock | 639.5M | 639.5M | 639.5M | 639.5M | 639.5M |
| Retained Earnings | 67.8B | - | - | - | - |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 109.5B | 93.7B | 72.8B | 68.5B | 65.4B |
| Key Metrics | |||||
| Total Debt | 48.2B | 57.3B | 49.3B | 60.3B | 53.3B |
| Working Capital | 31.2B | 19.8B | 9.4B | 1.3B | 2.9B |
Balance Sheet Composition
Jindal Saw Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 23.5B | 22.2B | 7.2B | 6.2B | 5.0B |
| Depreciation & Amortization | - | - | - | - | - |
| Stock-Based Compensation | 61.7M | 454.1M | 69.2M | 61.4M | 563.0K |
| Working Capital Changes | -2.1B | -5.3B | -16.3B | -7.8B | -2.8B |
| Operating Cash Flow | 27.1B | 23.2B | -3.7B | 1.9B | 5.8B |
| Investing Activities | |||||
| Capital Expenditures | -10.1B | -8.5B | -2.4B | -3.5B | -4.0B |
| Acquisitions | 843.0K | -10.9B | 0 | - | - |
| Investment Purchases | -293.3M | -552.7M | -919.2M | -917.1M | -1.4B |
| Investment Sales | 718.4M | 549.9M | 762.2M | 716.1M | 637.9M |
| Investing Cash Flow | -9.7B | -19.5B | -2.5B | -3.8B | -4.7B |
| Financing Activities | |||||
| Share Repurchases | - | - | - | - | - |
| Dividends Paid | -1.3B | -1.0B | -631.0M | -630.7M | -630.0M |
| Debt Issuance | 4.0B | 10.1B | 2.0B | 2.0M | 8.7B |
| Debt Repayment | -11.9B | -5.0B | -5.2B | -7.3B | -6.7B |
| Financing Cash Flow | -8.8B | 6.8B | -12.9B | 5.3B | -3.0B |
| Free Cash Flow | 13.0B | 17.3B | 12.9B | -3.8B | 11.7B |
| Net Change in Cash | 8.6B | 10.5B | -19.2B | 3.4B | -1.8B |
Cash Flow Trend
Jindal Saw Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
13.90
Forward P/E
12.78
Price to Book
1.30
Price to Sales
0.85
PEG Ratio
-0.29
Profitability Ratios
Profit Margin
6.15%
Operating Margin
9.26%
Return on Equity
15.87%
Return on Assets
8.37%
Financial Health
Current Ratio
1.45
Debt to Equity
43.95
Beta
0.21
Per Share Data
EPS (TTM)
₹17.64
Book Value per Share
₹189.33
Revenue per Share
₹287.45
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| JINDALSAW | 156.4B | 13.90 | 1.30 | 15.87% | 6.15% | 43.95 |
| JSW Steel | 3.1T | 41.28 | 3.69 | 4.29% | 4.16% | 118.74 |
| Tata Steel | 2.6T | 28.94 | 2.79 | 3.74% | 4.07% | 99.70 |
| Godawari Power | 191.5B | 25.08 | 3.45 | 16.44% | 14.16% | 3.64 |
| Ratnamani Metals | 172.4B | 29.42 | 4.44 | 14.84% | 11.42% | 6.13 |
| Usha Martin | 135.2B | 30.92 | 4.55 | 14.80% | 11.62% | 8.91 |
Financial data is updated regularly. All figures are in the company's reporting currency.





