Manufactures steel pipes, hollow sections and value-added tubular products from four plants located in Punjab, Maharashtra (Mangaon) and Chhattisgarh, with cumulative manufacturing capacity of about 9,36,000 MTPA. FY26 sales volumes reached 3,95,900 MT (a record), of which value-added lines such as DFT structural pipes and color-coated pipes made up about 27% of Q4 FY26 sales. A new cold rolling complex at Mangaon for color-coated pipes was nearing commissioning for H1 FY27. Exports account for about 10% of revenue, including supply to Australia under ACRS certification, and the business holds Three Star Export House status. A separate copper, brass and bronze alloys line sits in 95%-owned subsidiary JTL Defence, which is scaling from 100 tons/month to a 500 tons/month run rate by FY27 exit. Materials (steel and other inputs) form the biggest cost at 79.8% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Steel pipes and hollow sections, Value-added tubular products, Exports, JTL Defence (alloys). Capital-intensive steel pipe manufacturer expanding into value-added tubes and copper/brass alloys.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 976 | 1,550 | 2,040 | 1,916 | 2,136 |
| EBITDA (ex other income) | 73 | 128 | 152 | — | 154 |
| margin % | 7.4 | 8.3 | 7.5 | — | 7.2 |
| Owners' profit | 50 | 90 | 113 | — | 98 |
| EPS, as reported (₹) | 8.45 | 10.69 | 6.63 | 2.60 | 2.62 |
| ROE % · ROCE % | 31.8 · 43.8 | 22.1 · 30.5 | 14.6 · 19.9 | — · 11.0 | 6.8 · 9.1 |
| Debt / equity (x) | 0.50 | 0.13 | 0.03 | — | 0.16 |
| Cash from operations | 10 | 5 | (22) | (246) | (67) |
| Capex | (20) | (19) | (103) | (178) | (146) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 480 | 451 | 469 | 544 | 429 | 471 | 693 | 722 |
| Profit before tax | 35 | 34 | 22 | 22 | 31 | 33 | 50 | 48 |
| Net profit | 26 | 25 | — | 17 | 22 | 26 | 38 | 35 |
| EPS (₹) | 1.39 | 0.63 | 0.43 | 0.42 | 0.56 | 0.67 | 0.96 | 0.90 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 70,880 | 30.7 | 7.54 | 30.2 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 59,803 | 48.6 | 11.29 | 31.1 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 29,979 | 26.8 | 2.43 | 12.2 | 8.6 | 11.4 | 24.1 | 14.9 |
| JINDAL SAW LIMITED | 20,016 | 30.5 | 1.63 | 10.5 | 7.5 | 6.8 | 10.9 | 9.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · Newspaper notice published for 35th AGM and e-voting details | compliance | minimal | — | — |
| 2 Sept 2026 · AGM notice on Sep 25; final dividend record date Sep 11 | compliance | minimal | — | — |
| 2 Sept 2026 · JTL Industries files Business Responsibility and Sustainability Report for FY 2025-26 | compliance | low | — | — |
| 2 Sept 2026 · Notice of 35th AGM on Sept 25, 2026; Final Dividend of Re 0.125 per share proposed | board shareholder meetings | low | — | — |
| 2 Sept 2026 · JTL Industries 35th AGM notice on Sept 25, 2026; Rs 0.125 dividend proposed | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Annual Report FY 2025-26 and 35th AGM Notice submitted | compliance | medium | — | — |
| 31 Aug 2026 · Board re-appoints two Whole-time Directors, fixes AGM and dividend record date | management changes | medium | — | — |
| 31 Aug 2026 · JTL Industries fixes Sept 11 as dividend record date, AGM on Sept 25 | management changes | medium | — | — |
| 31 Aug 2026 · Board meeting outcome: Director re-appointments, AGM and dividend record date set | management changes | medium | — | — |
| 24 Aug 2026 · JTL Engineering to double HR coil capacity with Rs 15 Cr capex | capex operations | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| RATNAMANI MET & TUB LTD. | 19,815 | 45.8 | 4.71 | 23.1 | 12.7 | 15.6 | 14.4 | 18.5 |
| GODAWARI POW & ISP LTD | 15,875 | 18.6 | 2.71 | 12.0 | 13.7 | 17.0 | 5.7 | 21.0 |
| USHA MARTIN LTD. | 15,069 | 29.7 | 4.56 | 19.8 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,270 | 30.6 | 4.00 | 17.7 | 14.6 | 16.8 | 34.4 | 17.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 28.6 | 16.2 | 82 of 118 | 31% |
| P/B | 2.3 | 1.7 | 64 of 99 | 36% |
| ROCE | 8.4 | 8.7 | 61 of 120 | 50% |
| ROE | 6.8 | 8.6 | 65 of 114 | 43% |
| Debt / Equity | 0.2 | 0.1 | 59 of 114 | 49% |
| EBITDA margin | 8.8 | 11.0 | 59 of 100 | 41% |
| Revenue growth | 32.7 | 13.7 | 21 of 97 | 79% |
| Profit growth | 113.7 | 29.3 | 25 of 105 | 77% |
| Market cap | 3479 | 247 | 25 of 120 | 80% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
