JTL Industries Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,916 Cr
- P/E
- 25.42
- ROE
- 7.31%
- PEG
- 9.02
- Price to sales
- 1.24
- Debt to equity
- 0.16
- 52W high / low
- ₹92.4 / ₹40.8
- Sales growth (5Y)
- 37.43%
- EBITDA margin
- 8.20%
- Net profit margin
- 4.85%
- Promoter holding
- 49.26%
- Sales (last year)
- ₹2,314 Cr
JTL Infra Ltd is an integrated manufacturer and supplier of steel tubes, pipes and allied products with manufacturing facilities in India.[1]
Guidance scorecard · Q1 FY27 call
What JTL Industries Ltd's management guided
and where it ranks in Industrial Products
Industrial Products
RevenueQ1 FY27 call
20–40%- JTL Industries targets ~30% volume growth for FY27, with H2 expected to be stronger than H1.
- Full ramp-up of new capacities anticipated by FY29, reaching 50%-60% utilization levels.
- Peak utilization projected around 70% by FY29-FY30, with revenue potential at peak utilization estimated at ~INR 1.4 million tons × INR 65,000/ton.
- Expansion in value-added product mix aimed at increasing from current 35% to 50%-60% in medium term.
- JTL Defence expects monthly sales to reach 500 metric tons by Q4 FY27, with a long-term EBITDA margin target of 10%-15%.
2 more points from JTL Industries Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what JTL Industries Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- FY27 capex planned at around INR 100 crores to complete remaining capacity expansion to 2 million tons.
- FY28 capex expected to be maintenance level, about INR 30-40 crores.
- JTL Defence segment capex of approximately INR 15 crores in FY27; similar amount expected in FY28.
- Defence capex focused on upgrading machines for coin and bullet shell segments.
- Defence capex will not increase total capacity (currently ~12,000 tons per month hot plant) but will enhance product mix and margin profile.
2 more points from JTL Industries Ltd's call on capex
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FundraisingQ1 FY27 call
See what JTL Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Export order book stands at approximately INR 75 crores as of Q1 FY27.
- The normal order book for the company typically revolves around a quarter's worth of orders.
- Dealer network sales constitute 50-60% of total sales, with orders managed on a daily basis rather than fixed schedules.
- Local market orders have a short delivery timeline of 7 to 10 days, leading to a continuously changing order book.
2 more points from JTL Industries Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of JTL Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of JTL Industries Ltd
Quarterly Results
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 + | 471 | 505 | 502 | 567 | 466 | 516 | 480 | 452 | 466 | 504 | 371 | 423 | 500 |
| Expenses + | 418 | 469 | 465 | 525 | 429 | 476 | 450 | 416 | 449 | 483 | 341 | 388 | 461 |
| Operating Profit | 53 | 36 | 37 | 43 | 37 | 40 | 30 | 35 | 17 | 21 | 29 | 35 | 39 |
| OPM % | 11% | 7% | 7% | 7% | 8% | 8% | 6% | 8% | 4% | 4% | 8% | 8% | 8% |
| Other Income + | 0 | 1 | 3 | 1 | 3 | 4 | 8 | 2 | 9 | 5 | 3 | 4 | 2 |
| Interest | 2 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 4 |
| Profit before tax | 50 | 34 | 38 | 40 | 38 | 41 | 35 | 34 | 22 | 21 | 27 | 32 | 34 |
| Tax % | 27% | 25% | 26% | 25% | 23% | 25% | 24% | 26% | 25% | 24% | 27% | 20% | 24% |
| Net Profit + | 37 | 25 | 28 | 30 | 29 | 31 | 26 | 25 | 17 | 16 | 20 | 26 | 26 |
| EPS in Rs | 1.09 | 0.75 | 0.82 | 0.88 | 0.85 | 0.89 | 0.69 | 0.65 | 0.44 | 0.42 | 0.52 | 0.68 | 0.68 |
Financials of JTL Industries Ltd
Profit & Loss
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 + | 119 | 95 | 113 | 170 | 322 | 230 | 435 | 1,355 | 1,547 | 2,039 | 1,911 | 1,798 |
| Expenses + | 117 | 93 | 110 | 155 | 298 | 213 | 403 | 1,265 | 1,418 | 1,887 | 1,789 | 1,674 |
| Operating Profit | 2 | 2 | 2 | 15 | 24 | 16 | 33 | 89 | 129 | 152 | 123 | 125 |
| OPM % | 2% | 2% | 2% | 9% | 7% | 7% | 8% | 7% | 8% | 7% | 6% | 7% |
| Other Income + | 1 | 1 | 1 | 0 | 1 | 3 | 5 | 4 | 4 | 8 | 23 | 14 |
| Interest | 2 | 1 | 1 | 2 | 3 | 4 | 9 | 8 | 6 | 5 | 4 | 9 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 3 | 4 | 6 | 9 | 14 |
| Profit before tax | 1 | 2 | 2 | 13 | 21 | 14 | 27 | 82 | 123 | 150 | 132 | 115 |
| Tax % | 33% | 23% | 36% | 37% | 30% | 26% | 26% | 26% | 26% | 25% | 25% | 24% |
| Net Profit + | 1 | 1 | 1 | 8 | 14 | 10 | 20 | 61 | 90 | 113 | 99 | 88 |
| EPS in Rs | 0.04 | 0.06 | 0.07 | 0.40 | 0.72 | 0.48 | 0.95 | 2.58 | 2.67 | 3.28 | 2.59 | 2.30 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 11% | 0% | 2% | 4% | 5% | 6% |
Financials of JTL Industries Ltd
Balance Sheet
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 | 10 | 10 | 10 | 10 | 10 | 11 | 11 | 13 | 17 | 35 | 39 | 39 |
| Reserves | 3 | 4 | 6 | 14 | 34 | 51 | 86 | 184 | 390 | 739 | 1,179 | 1,261 |
| Borrowings + | 15 | 6 | 11 | 21 | 35 | 58 | 63 | 94 | 105 | 20 | 53 | 203 |
| Other Liabilities + | 8 | 11 | 22 | 27 | 29 | 22 | 49 | 47 | 49 | 49 | 43 | 56 |
| Total Liabilities | 36 | 31 | 48 | 72 | 108 | 141 | 209 | 339 | 562 | 843 | 1,315 | 1,560 |
| Fixed Assets + | 3 | 3 | 4 | 6 | 19 | 24 | 28 | 49 | 65 | 106 | 189 | 221 |
| CWIP | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 3 | 4 | 6 | 63 | 154 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 16 | 6 | 11 | 62 |
| Other Assets + | 33 | 27 | 44 | 64 | 88 | 117 | 181 | 275 | 476 | 725 | 1,052 | 1,122 |
| Total Assets | 36 | 31 | 48 | 72 | 108 | 141 | 209 | 339 | 562 | 843 | 1,315 | 1,560 |
Financials of JTL Industries Ltd
Cash Flows
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 + | 4 | 10 | -4 | -5 | -5 | -20 | -5 | 17 | 7 | -24 | -215 | -10 |
| Cash from Investing Activity + | -1 | 1 | -1 | -4 | -13 | -6 | -8 | -34 | -23 | -90 | -210 | -156 |
| Cash from Financing Activity + | -4 | -10 | 4 | 9 | 18 | 27 | 12 | 17 | 66 | 171 | 384 | 133 |
| Net Cash Flow | -2 | 1 | -1 | 0 | 0 | 0 | -0 | -0 | 50 | 57 | -41 | -32 |
| Free Cash Flow | 2 | 9 | -6 | -9 | -17 | -26 | -11 | -5 | -11 | -121 | -364 | -131 |
| CFO/OP | 199% | 583% | -152% | -22% | -3% | -95% | -6% | 49% | 26% | 12% | -147% | 6% |
Financials of JTL Industries Ltd
Ratios
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 | 48 | 28 | 54 | 68 | 63 | 81 | 80 | 30 | 33 | 34 | 53 | 57 |
| Inventory Days | 27 | 42 | 56 | 47 | 28 | 75 | 49 | 36 | 46 | 31 | 43 | 49 |
| Days Payable | 10 | 27 | 35 | 50 | 8 | 20 | 31 | 8 | 8 | 5 | 5 | 6 |
| Cash Conversion Cycle | 65 | 43 | 75 | 65 | 84 | 136 | 98 | 58 | 71 | 60 | 91 | 100 |
| Working Capital Days | 36 | 45 | 66 | 37 | 29 | 57 | 64 | 35 | 66 | 87 | 147 | 149 |
| ROCE % | 9% | 6% | 13% | 40% | 38% | 18% | 26% | 40% | 32% | 23% | 13% | 9% |
Guidance history
How JTL Industries Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 20–40% | Up 2%+ | Planned | — | — |
| Q3 FY26 call → | 40%+ | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
31 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +12.2% | 70% |
| Last 6 months | −4.0% | 49% |
| Last 3 months | +1.2% | 69% |
The price is 43.4% below its all-time high of ₹134.75 (2 Feb 2024). Stocks more than 20% below their peak have their score halved, so 62 became 31.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For JTL Industries Ltd: 0.4 × 70 + 0.4 × 49 + 0.2 × 69 = 62, halved to 31 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What JTL Industries Ltd's management said in earlier quarters
- Q2 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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