Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Jindal Saw Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 5,188 | 4,410 | 5,466 | 5,656 | 5,425 | 4,939 | 5,572 | 5,271 | 5,047 | 4,085 | 4,234 | 4,943 | 4,633 |
| Expenses + | 4,588 | 3,803 | 4,663 | 4,668 | 4,505 | 4,100 | 4,658 | 4,332 | 4,310 | 3,415 | 3,782 | 4,331 | 4,156 |
| Operating Profit | 600 | 608 | 804 | 988 | 920 | 840 | 914 | 939 | 736 | 670 | 451 | 613 | 478 |
| OPM % | 12% | 14% | 15% | 17% | 17% | 17% | 16% | 18% | 15% | 16% | 11% | 12% | 10% |
| Other Income + | 79 | 37 | 22 | 40 | 69 | 51 | 37 | 29 | 28 | 29 | 40 | 22 | 23 |
| Interest | 162 | 160 | 189 | 182 | 174 | 154 | 158 | 173 | 139 | 171 | 153 | 133 | 163 |
| Depreciation | 126 | 132 | 141 | 147 | 149 | 148 | 151 | 151 | 153 | 153 | 156 | 155 | 167 |
| Profit before tax | 392 | 354 | 496 | 700 | 667 | 588 | 643 | 645 | 473 | 374 | 183 | 347 | 172 |
| Tax % | 24% | 31% | 28% | 27% | 28% | 29% | 26% | 26% | 82% | -11% | 24% | 29% | 28% |
| Net Profit + | 298 | 244 | 356 | 512 | 480 | 416 | 475 | 479 | 87 | 415 | 139 | 248 | 124 |
| EPS in Rs | 5.58 | 4.14 | 5.90 | 8.34 | 7.85 | 6.90 | 7.81 | 7.92 | 4.55 | 6.63 | 2.38 | 4.03 | 2.18 |
Financials of Jindal Saw Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 8,208 | 7,703 | 7,070 | 8,507 | 12,117 | 11,627 | 10,664 | 13,298 | 17,868 | 20,958 | 20,829 | 17,895 |
| Expenses + | 7,254 | 6,979 | 6,393 | 7,466 | 10,645 | 10,116 | 9,422 | 11,899 | 16,192 | 17,631 | 17,385 | 15,666 |
| Operating Profit | 954 | 723 | 677 | 1,041 | 1,472 | 1,511 | 1,242 | 1,399 | 1,676 | 3,326 | 3,444 | 2,229 |
| OPM % | 12% | 9% | 10% | 12% | 12% | 13% | 12% | 11% | 9% | 16% | 17% | 12% |
| Other Income + | 76 | 136 | 330 | 24 | 515 | -3 | 209 | 155 | 155 | 162 | 130 | 97 |
| Interest | 606 | 679 | 569 | 579 | 615 | 620 | 493 | 460 | 642 | 705 | 623 | 620 |
| Depreciation | 335 | 328 | 337 | 363 | 396 | 422 | 459 | 473 | 470 | 568 | 602 | 630 |
| Profit before tax | 89 | -148 | 101 | 122 | 975 | 467 | 499 | 621 | 719 | 2,216 | 2,349 | 1,076 |
| Tax % | 131% | -46% | 62% | 109% | 22% | 1% | 34% | 40% | 37% | 28% | 38% | 14% |
| Net Profit + | -27 | -80 | 39 | -11 | 764 | 461 | 328 | 376 | 452 | 1,593 | 1,458 | 925 |
| EPS in Rs | -0.25 | -0.66 | 1.78 | 2.79 | 13.29 | 8.67 | 4.99 | 6.44 | 10.07 | 26.22 | 27.18 | 15.22 |
| Dividend Payout % | -200% | -76% | 28% | 22% | 8% | 12% | 20% | 16% | 15% | 8% | 7% | 13% |
Financials of Jindal Saw Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 58 | 61 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 |
| Reserves | 5,332 | 5,061 | 5,322 | 5,432 | 6,218 | 6,700 | 6,919 | 7,300 | 7,857 | 10,029 | 11,347 | 12,510 |
| Borrowings + | 8,102 | 7,547 | 6,222 | 6,311 | 5,692 | 5,649 | 5,335 | 6,031 | 4,961 | 5,761 | 4,859 | 4,691 |
| Other Liabilities + | 2,507 | 1,676 | 1,248 | 1,389 | 2,807 | 2,669 | 3,497 | 3,048 | 5,001 | 4,824 | 4,395 | 4,307 |
| Total Liabilities | 15,999 | 14,346 | 12,856 | 13,197 | 14,781 | 15,082 | 15,815 | 16,443 | 17,883 | 20,679 | 20,665 | 21,572 |
| Fixed Assets + | 8,239 | 7,977 | 7,455 | 7,120 | 7,163 | 7,491 | 7,316 | 7,357 | 7,484 | 8,853 | 9,341 | 10,409 |
| CWIP | 531 | 254 | 102 | 126 | 260 | 423 | 404 | 293 | 300 | 632 | 641 | 453 |
| Investments | 309 | 154 | 119 | 110 | 190 | 129 | 198 | 224 | 175 | 178 | 168 | 105 |
| Other Assets + | 6,921 | 5,961 | 5,180 | 5,840 | 7,169 | 7,039 | 7,898 | 8,570 | 9,924 | 11,016 | 10,516 | 10,606 |
| Total Assets | 15,999 | 14,346 | 12,856 | 13,197 | 14,781 | 15,082 | 15,815 | 16,443 | 17,883 | 20,679 | 20,665 | 21,572 |
Financials of Jindal Saw Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -183 | 917 | 1,163 | 565 | 1,567 | 1,665 | 1,570 | 73 | 1,616 | 2,593 | 2,335 | 1,771 |
| Cash from Investing Activity + | -867 | -517 | -428 | -121 | -518 | -468 | -359 | -190 | -68 | -1,917 | -897 | -947 |
| Cash from Financing Activity + | 1,253 | -512 | -816 | -470 | -977 | -1,168 | -831 | 61 | -1,966 | -12 | -1,524 | -1,073 |
| Net Cash Flow | 203 | -112 | -81 | -25 | 72 | 28 | 379 | -55 | -419 | 663 | -86 | -249 |
| Free Cash Flow | -895 | 434 | 877 | 377 | 1,071 | 1,107 | 1,173 | -279 | 1,379 | 1,741 | 1,324 | 706 |
| CFO/OP | -9% | 137% | 188% | 61% | 118% | 122% | 134% | 16% | 106% | 87% | 86% | 92% |
Financials of Jindal Saw Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 91 | 83 | 71 | 83 | 67 | 59 | 73 | 50 | 73 | 60 | 62 | 63 |
| Inventory Days | 257 | 210 | 221 | 183 | 156 | 141 | 177 | 173 | 134 | 147 | 152 | 191 |
| Days Payable | 77 | 42 | 39 | 42 | 88 | 74 | 117 | 71 | 98 | 89 | 78 | 95 |
| Cash Conversion Cycle | 271 | 250 | 253 | 224 | 134 | 126 | 132 | 152 | 109 | 119 | 136 | 159 |
| Working Capital Days | 26 | 30 | 37 | 42 | 12 | -12 | -17 | -15 | 15 | 19 | 41 | 66 |
| ROCE % | 6% | 4% | 4% | 7% | 11% | 10% | 8% | 9% | 11% | 21% | 19% | 10% |