Jindal Stainless, India’s leading stainless steel manufacturer, achieved an annual turnover of INR 35,700 crore (USD 4.30 billion) in FY23 with a melt capacity of 3 million tonnes. The company operates seven manufacturing facilities in India and abroad, including Spain and Indonesia, and has a presence in 15 countries. In India, it has ten sales offices and six service centres, offering a wide product range such as slabs, coils, plates, sheets, wire rods, and more.
Integrated operations give Jindal Stainless a competitive edge in cost and efficiency, establishing it as a top global player. Founded in 1970, the company is driven by innovation, social responsibility, and industry-leading safety practices.
Committed to sustainability, Jindal Stainless uses scrap in electric arc furnaces for stainless steel production, promoting 100% recyclability and minimal greenhouse gas emissions. The company aims to reduce carbon emission intensity by 50% before FY 2035 and achieve Net Zero by 2050.
Jindal Stainless Reports 34.6% Net Profit Decline in Q4FY24, Declares ₹2 Dividend Amid Sales Volume Growth
- Net Profit Decline: Jindal Stainless Ltd (JSL) reported a 34.6% year-on-year decline in net profit for Q4FY24, amounting to ₹500.7 crore compared to ₹765.8 crore in the same period last year.
- Revenue Decrease: The company’s revenue from operations fell by 3.2%, reaching ₹9,454 crore against ₹9,765 crore in the corresponding quarter of the previous fiscal year.
- EBITDA Drop: At the operating level, EBITDA decreased by 9.5% to ₹1,035.2 crore in Q4FY24, down from ₹1,143.9 crore in Q4FY23.
- EBITDA Margin: The EBITDA margin for the reporting quarter stood at 11%, compared to 11.7% in the year-ago period.
- Dividend Declared: The board recommended a final dividend of ₹2 per equity share for the financial year ended March 31, 2024, subject to shareholder approval at the 44th annual general meeting. The total dividend for FY24 aggregates to ₹3 per equity share, including the interim dividend of ₹1 per share.
- Net Debt Reduction: Net debt as of March 31, 2024, was ₹2,418 crore, reflecting a 22% decrease over the previous quarter, improving the net debt-to-equity ratio to 0.18.
- Sales Volume Growth: JSL recorded a 12% year-on-year increase in sales volume for Q4FY24, totaling 5,70,362 tonnes, the highest for any quarter.
- Revenue Growth: Net revenue grew marginally to ₹9,521 crore, supported by strong domestic demand.
- Market Reaction: Shares of Jindal Stainless Ltd ended at ₹685, down by ₹26.40 or 3.71% on the BSE following the results announcement.
- Management Commentary: Abhyuday Jindal, Managing Director of Jindal Stainless, highlighted the company’s alignment with the Indian growth story and mentioned the achievement of growth projections and expansion plans.
Below are the trading platforms that you can use to purchase Jindal Stainless shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| May 2024 | 681.60 | 592.70 |
| June 2024 | 706.14 | 614.04 |
| July 2024 | 699.08 | 607.90 |
| August 2024 | 727.04 | 632.21 |
| September 2024 | 756.13 | 657.50 |
| October 2024 | 741.30 | 644.61 |
| November 2024 | 770.95 | 670.39 |
| December 2024 | 778.66 | 677.10 |
In May 2024, Jindal Stainless’ stock is expected to reach a maximum price of ₹681.60 and a minimum price of ₹592.70. By December 2024, the maximum price is projected to rise to ₹778.66, with the minimum price likely increasing to ₹677.10. Throughout the year, as we step into each month, the share prices of Jindal Stainless are anticipated to experience fluctuations.
| When | Maximum Price | Minimum Price |
| January 2025 | 786.45 | 604.96 |
| February 2025 | 794.39 | 611.07 |
| March 2025 | 811.07 | 623.90 |
| April 2025 | 803.04 | 617.73 |
| May 2025 | 779.65 | 599.73 |
| June 2025 | 814.74 | 626.72 |
| July 2025 | 798.76 | 614.43 |
| August 2025 | 823.47 | 633.44 |
| September 2025 | 833.35 | 641.04 |
| October 2025 | 855.02 | 657.70 |
| November 2025 | 876.39 | 674.15 |
| December 2025 | 915.83 | 704.48 |
In 2025, Jindal Stainless shares are expected to reach their highest point in December at ₹915.83 and their lowest in May at ₹599.73. This upward trend signifies anticipated growth in share prices over the year.
| When | Maximum Price | Minimum Price |
| January 2026 | 943.30 | 725.62 |
| February 2026 | 919.72 | 707.48 |
| March 2026 | 938.11 | 721.63 |
| April 2026 | 957.26 | 736.35 |
| May 2026 | 947.78 | 729.06 |
| June 2026 | 971.48 | 747.29 |
| July 2026 | 952.43 | 732.64 |
| August 2026 | 981.88 | 755.30 |
| September 2026 | 1,001.52 | 770.40 |
| October 2026 | 1,027.56 | 790.43 |
| November 2026 | 1,053.25 | 810.19 |
| December 2026 | 1,079.58 | 830.45 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,090.38 | 838.75 |
| February 2027 | 1,118.34 | 860.26 |
| March 2027 | 1,161.95 | 893.81 |
| April 2027 | 1,139.17 | 876.28 |
| May 2027 | 1,105.99 | 850.76 |
| June 2027 | 1,155.76 | 889.04 |
| July 2027 | 1,133.10 | 871.61 |
| August 2027 | 1,168.14 | 898.57 |
| September 2027 | 1,209.03 | 930.02 |
| October 2027 | 1,240.46 | 954.20 |
| November 2027 | 1,271.47 | 978.06 |
| December 2027 | 1,303.26 | 1,002.51 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,329.32 | 1,022.56 |
| February 2028 | 1,363.41 | 1,048.78 |
| March 2028 | 1,416.58 | 1,089.68 |
| April 2028 | 1,388.81 | 1,068.31 |
| May 2028 | 1,348.36 | 1,037.20 |
| June 2028 | 1,409.03 | 1,083.87 |
| July 2028 | 1,381.40 | 1,062.62 |
| August 2028 | 1,424.13 | 1,095.48 |
| September 2028 | 1,473.97 | 1,133.82 |
| October 2028 | 1,512.29 | 1,163.30 |
| November 2028 | 1,550.10 | 1,192.39 |
| December 2028 | 1,588.85 | 1,222.20 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,620.63 | 1,246.64 |
| February 2029 | 1,662.19 | 1,278.60 |
| March 2029 | 1,727.01 | 1,328.47 |
| April 2029 | 1,693.15 | 1,302.42 |
| May 2029 | 1,643.83 | 1,264.49 |
| June 2029 | 1,717.81 | 1,321.39 |
| July 2029 | 1,684.12 | 1,295.48 |
| August 2029 | 1,736.21 | 1,335.55 |
| September 2029 | 1,796.98 | 1,382.29 |
| October 2029 | 1,843.70 | 1,418.23 |
| November 2029 | 1,889.79 | 1,453.69 |
| December 2029 | 1,937.04 | 1,490.03 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,975.78 | 1,519.83 |
| February 2030 | 2,026.44 | 1,558.80 |
| March 2030 | 2,105.47 | 1,619.59 |
| April 2030 | 2,064.18 | 1,587.83 |
| May 2030 | 2,004.06 | 1,541.59 |
| June 2030 | 2,094.25 | 1,610.96 |
| July 2030 | 2,053.18 | 1,579.37 |
| August 2030 | 2,116.68 | 1,628.22 |
| September 2030 | 2,190.77 | 1,685.20 |
| October 2030 | 2,247.73 | 1,729.02 |
| November 2030 | 2,303.92 | 1,772.25 |
| December 2030 | 2,361.52 | 1,816.55 |
In January 2030, Jindal Stainless shares are projected to reach a maximum price of ₹1,975.78 and a minimum price of ₹1,519.83. As the year progresses, February sees an anticipated increase to a maximum of ₹2,026.44 and a minimum of ₹1,558.80. By December 2030, the trend continues with prices forecasted to rise to a maximum of ₹2,361.52 and a minimum of ₹1,816.55.
Financial Condition of Jindal Stainless: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 12,951 | 12,188 | 32,733 | 35,697 | 38,562 |
| Expenses + | 11,819 | 10,764 | 27,642 | 32,111 | 33,858 |
| Operating Profit | 1,132 | 1,424 | 5,090 | 3,586 | 4,704 |
| OPM % | 9% | 12% | 16% | 10% | 12% |
| Other Income + | 44 | 148 | 171 | 236 | 321 |
| Interest | 586 | 480 | 344 | 325 | 554 |
| Depreciation | 425 | 403 | 759 | 724 | 879 |
| Profit before tax | 165 | 690 | 4,159 | 2,774 | 3,592 |
| Tax % | 56% | 39% | 25% | 25% | 25% |
| Net Profit + | 73 | 419 | 3,109 | 2,084 | 2,693 |
| EPS in Rs | 1.46 | 8.6 | 58.59 | 25.68 | 32.95 |
| Dividend Payout % | 0% | 0% | 0% | 10% | 9% |
- Sales Growth: The company’s sales surged from ₹12,951 crore in FY20 to ₹38,562 crore in FY24, reflecting a robust growth trajectory.
- Expenses: Operating expenses also increased from ₹11,819 crore in FY20 to ₹33,858 crore in FY24, in line with the sales growth, maintaining operational efficiency.
- Operating Profit and Margin: Operating profit rose from ₹1,132 crore in FY20 to ₹4,704 crore in FY24, with the operating profit margin improving from 9% to 12% over the period, despite a dip in FY23.
- Other Income: Other income consistently grew from ₹44 crore in FY20 to ₹321 crore in FY24, contributing to overall profitability.
- Interest and Depreciation: Interest expenses fluctuated, reaching ₹554 crore in FY24. Depreciation costs increased steadily, from ₹425 crore in FY20 to ₹879 crore in FY24, indicating ongoing investments in assets.
- Profit Before Tax (PBT): The PBT demonstrated remarkable growth from ₹165 crore in FY20 to ₹3,592 crore in FY24, highlighting strong operational performance.
- Net Profit: Net profit soared from ₹73 crore in FY20 to ₹2,693 crore in FY24, showcasing the company’s successful profit maximization strategies.
- Earnings Per Share (EPS): EPS jumped from ₹1.46 in FY20 to ₹32.95 in FY24, indicating enhanced shareholder value.
- Dividend Payout: The company started dividend payouts in FY23, with a payout ratio of 10%, slightly reduced to 9% in FY24, reflecting a balance between rewarding shareholders and reinvesting profits.
FAQs
What is the current market capitalization of Jindal Stainless Ltd?
Jindal Stainless Ltd’s current market capitalization stands at ₹55,364 Crores.
In 2024, Jindal Stainless’s share price is forecasted to range from ₹592.70 to ₹778.66, offering potential for growth throughout the year.
Jindal Stainless’s share price targets for 2025 range from ₹599.73 to ₹915.83, highlighting promising growth prospects over the months.
By 2030, Jindal Stainless’s share price is anticipated to reach between ₹1,519.83 and ₹2,361.52, demonstrating substantial potential for long-term investment gains.
What is the current Price-to-Earnings (P/E) ratio of Jindal Stainless Ltd?
Jindal Stainless Ltd’s current Price-to-Earnings (P/E) ratio is 21.1, indicating an attractive valuation relative to its earnings.
What is the dividend payout percentage for Jindal Stainless Ltd?
Currently, Jindal Stainless Ltd offers a dividend yield of 9%, aligning with its growth-oriented investment strategy.
The book value of Jindal Stainless Ltd’s shares is ₹174, representing a solid foundation for investor value.
Also Read
- City Union Bank Share Price Target 2024, 2025, 2026 To 2030
- L&T Technology Services Share Price Target 2024, 2025, 2026 To 2030
- WHIRLPOOL OF INDIA SHARE PRICE TARGET 2024, 2025, 2026 to 2030
Conclusion:
Despite a decline in net profit in Q4FY24, Jindal Stainless has demonstrated resilience and robustness in its operational performance, with notable achievements in sales volume growth and net revenue. The company’s commitment to enhancing shareholder value is evident through the declaration of a dividend despite the challenging market conditions. Moreover, the significant reduction in net debt reflects prudent financial management and a strengthened balance sheet. With a strong foundation built on innovation, sustainability, and operational efficiency, coupled with strategic expansion plans, Jindal Stainless remains well-positioned to capitalize on emerging opportunities and drive sustainable growth in the stainless steel industry.
What did we learn?
- 1 Jindal Stainless Reports 34.6% Net Profit Decline in Q4FY24, Declares ₹2 Dividend Amid Sales Volume Growth
- 2 How to Purchase Jindal Stainless Shares in India?
- 3 Jindal Stainless Share Price Prediction: 2024, 2025 to 2030
- 3.1 Jindal Stainless Share Price Target 2024
- 3.2 Jindal Stainless Share Price Prediction 2025
- 3.3 Jindal Stainless Share Price Target 2026
- 3.4 Jindal Stainless Share Price Target 2027
- 3.5 Jindal Stainless Share Price Prediction 2028
- 3.6 Jindal Stainless Share Price Target 2029
- 3.7 Jindal Stainless Share Price Prediction 2030
- 4 Financial Condition of Jindal Stainless: Last 5 Years
- 5 FAQs
- 5.1 What is the current market capitalization of Jindal Stainless Ltd?
- 5.2 What are the projected share price targets for Jindal Stainless in 2024?
- 5.3 What are the expected share price targets for Jindal Stainless in 2025?
- 5.4 What are the projected share price targets for Jindal Stainless in 2030?
- 5.5 What is the current Price-to-Earnings (P/E) ratio of Jindal Stainless Ltd?
- 5.6 What is the dividend payout percentage for Jindal Stainless Ltd?
- 5.7 What is the book value of Jindal Stainless Ltd’s shares?
- 6 Conclusion:
