Jindal Stainless Limited
JSL, a listed entity, is one of the largest SS manufacturers in India, with steel melting capacity of 3 MTPA (0.8MTPA in Hisar and 2.2 MTPA in Jajpur) and further ramping up to reach 4.2 MTPA. Its plant in Jajpur is supported by a captive power plant...
Key Metrics
EPS
32.95
Current ratio
1.47
Debt/Equity
1.14
Debt/EBITDA
3.26
Interest coverage ratio
7.48
Operating Cashflow to total debt
0.67
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Superior market position along with adaptability in the manufacturing process
Sustained improvement in Ebitda per tonne led by operating efficiency
Strong domestic demand outlook leading to significant capex
Financial risk profile to remain healthy despite capacity addition
Liquidity: Strong
Cons
Threat from imports
Susceptibility to volatility in input cost, and realisation, and cyclicality in the industry
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About Jindal Stainless Limited bond.
This comprehensive profile covers key factual information about Jindal Stainless Limited. JSL, a listed entity, is one of the largest SS manufacturers in India, with steel melting capacity of 3 MTPA (0.8MTPA in Hisar and 2.2 MTPA in Jajpur) and further ramping up to reach 4.2 MTPA. Its plant in Jajpur is supported by a captive power plant of 264 MW, ferroalloy plant of 0.25 MTPA, CRAP plant of 1.45 MTPA and HRAP capacity of 1.9 MTPA. Operations are also supported by a 3.9-MTPA hot strip mill (HSM), including recent expansion by JUSL (100% owned by JSL currently). JUSL converts SS slabs produced by JSL into hot-rolled coils. JSHL, (merged with JSL effective March 02, 2023) has a 0.8 MTPA SS plant in Hisar. It procures ferrochrome from JSL as well as from the open market. Its plant is the largest manufacturer of SS blades, used in razors, globally. The company also manufacturers various grades of specialty SS products. EPS in Mar-2024 was 32.95. Current ratio in Mar-2024 was 1.47. Debt/Equity in Mar-2024 was 1.14. Debt/EBITDA in Mar-2024 was 3.26. Interest coverage ratio in Mar-2024 was 7.48. Operating Cashflow to total debt in Mar-2024 was 0.67. Total revenue for Mar-2025(E) was ₹49206.57. Net income for Mar-2025(E) stood at ₹3773.22. Total assets as of Mar-2024 were ₹30,764.85. Operating cash flow for Mar-2024 was ₹4,818.13. The company’s borrowing relationships include State Bank of India (₹N/A Cr), Punjab National Bank (₹N/A Cr), Bank of Baroda (₹N/A Cr), Canara Bank (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), RBL Bank Limited (₹N/A Cr), UCO Bank (₹N/A Cr), Standard Chartered Bank Limited (₹N/A Cr), Axis Bank Limited (₹N/A Cr), Canara Bank (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), State Bank of India (₹N/A Cr), State Bank of India (₹N/A Cr), Axis Bank Limited (₹N/A Cr), Union Bank of India (₹N/A Cr), YES Bank Limited (₹N/A Cr), RBL Bank Limited (₹N/A Cr), UCO Bank (₹N/A Cr), Standard Chartered Bank Limited (₹N/A Cr), Punjab National Bank (₹N/A Cr), Bank of Baroda (₹N/A Cr), YES Bank Limited (₹N/A Cr), (₹N/A Cr), (₹N/A Cr), (₹N/A Cr), Bajaj Finance Limited (₹N/A Cr), Canara Bank (₹N/A Cr), Axis Bank Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), Union Bank of India (₹N/A Cr), Exim Bank (₹N/A Cr), State Bank of India (₹N/A Cr), RBL Bank Limited (₹N/A Cr), KFW (₹N/A Cr), IndusInd Bank Limited (₹N/A Cr). Peers and comparison entities consist of Jindal Stainless Limited, JSW Steel Limited, Tata Steel Limited, Jindal Steel And Power Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Superior market position along with adaptability in the manufacturing process; Sustained improvement in Ebitda per tonne led by operating efficiency; Strong domestic demand outlook leading to significant capex; Financial risk profile to remain healthy despite capacity addition; Liquidity: Strong. Key risks include: Threat from imports; Susceptibility to volatility in input cost, and realisation, and cyclicality in the industry. Leadership team details include Aarti Gupta (Independent Director), Abhyuday Jindal (Managing Director), Ajay Mankotia (Independent Director), Anurag Mantri (Executive Director & Group CFO), Arti Luniya (Independent Director), Jagmohan Sood (Whole Time Director & COO), Jayaram Easwaran (Independent Director), Navneet Raghuvanshi (Head - Legal & Co. Secretary), Praveen Kumar Malhotra (Non Executive Director), Rajeev Uberoi (Independent Director), Ratan Jindal (Chairman & Managing Director), Savitri Devi Jindal (Chairperson Emeritus), Shruti Shrivastava (Independent Director), Tarun Kumar Khulbe (Whole Time Director). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.