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Jindal Saw

₹532.6 10.8 | 2.1%

Market Cap ₹17029 Cr.

Stock P/E 10.2

P/B 1.7

Current Price ₹532.6

Book Value ₹ 315.7

Face Value 2

52W High ₹598.1

Dividend Yield 0.75%

52W Low ₹ 169.3

Jindal Saw Research see more...

Overview Inc. Year: 1984Industry: Steel & Iron Products

Jindal Saw Ltd manufactures and elements iron and steel pipe products, fittings and add-ons with diverse production centres in numerous countries, together with India, the USA, Europe and the United Arab Emirates (UAE). The Company's segments consist of Iron & Steel products and Ocean waterways. It manufactures submerged arc welded (SAW) pipes and spiral pipes for the power transportation sector, carbon, alloy and seamless pipes and tubes for industrial applications, and ductile iron (DI) pipes and fittings for water and wastewater transportation. Its commercial enterprise divisions comprises Welded Line Pipes (SAW Pipes); Ductile Iron Pipes (DI Pipes); Seamless Pipes and Tubes (Seamless Pipes), and Mining and Pellet division. Its products include Induction Bends and Pellets. It is engaged in production and presenting over 25,000 kilometers of line pipes, and exporting about 14,000 kilometers of line pipes for on-shore and off-shore pipeline tasks across the world.

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Jindal Saw Share Price

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Jindal Saw Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 3471 3970 3478 4044 5158 5188 4410 5466 5656 5425
Other Income 38 42 32 23 44 79 38 23 41 69
Total Income 3509 4012 3510 4067 5202 5267 4448 5489 5697 5494
Total Expenditure 3266 3569 3240 3712 4663 4588 3802 4662 4667 4505
Operating Profit 242 442 271 355 539 679 646 827 1030 989
Interest 108 119 160 148 169 162 160 189 181 174
Depreciation 122 118 110 117 118 126 133 143 149 149
Exceptional Income / Expenses 0 0 0 -25 0 0 0 0 0 0
Profit Before Tax 12 205 1 64 252 392 353 496 700 666
Provision for Tax 12 83 16 43 109 94 110 140 187 186
Profit After Tax 1 122 -15 21 143 298 243 356 513 480
Adjustments 12 5 20 38 71 59 20 20 19 23
Profit After Adjustments 13 127 5 59 214 357 263 376 532 502
Adjusted Earnings Per Share 0.4 4 0.2 1.9 6.7 11.2 8.2 11.8 16.6 15.7

Jindal Saw Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 6765 6656 8208 7703 7070 8507 12117 11627 10664 13298 17868 20957
Other Income 83 95 206 273 289 179 189 156 266 199 239 171
Total Income 6848 6751 8414 7976 7359 8685 12306 11783 10930 13498 18107 21128
Total Expenditure 6161 6016 7400 7032 6347 7511 10685 10163 9479 11943 16263 17636
Operating Profit 686 735 1014 944 1012 1175 1621 1620 1451 1555 1844 3492
Interest 236 392 606 679 569 581 615 620 493 460 638 704
Depreciation 219 321 335 328 337 363 396 422 459 473 471 574
Exceptional Income / Expenses -200 -68 -30 -21 96 -91 378 -112 0 0 -25 0
Profit Before Tax 31 -46 43 -85 193 134 988 467 499 621 710 2215
Provision for Tax 51 55 116 -68 63 133 212 5 172 246 267 623
Profit After Tax -20 -100 -73 -17 130 1 776 461 328 376 443 1592
Adjustments 1 15 59 -23 -17 178 74 93 -9 36 190 82
Profit After Adjustments -19 -86 -14 -40 114 178 850 555 319 412 632 1673
Adjusted Earnings Per Share -0.7 -3.1 -0.5 -1.3 3.6 5.6 26.6 17.3 10 12.9 19.8 52.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 34% 15% 16% 10%
Operating Profit CAGR 19% 4% 9% 10%
PAT CAGR 18% -1% 238% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 215% 77% 47% 25%
ROE Average 6% 5% 7% 3%
ROCE Average 10% 9% 10% 7%

Jindal Saw Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 3667 3568 5390 5122 5386 5496 6282 6763 6983 7364 7923
Minority's Interest 198 158 45 -6 -127 -296 -382 -475 -444 -515 -644
Borrowings 2844 3493 4376 4047 3302 3311 2633 2361 2298 1833 1735
Other Non-Current Liabilities 201 340 560 445 470 466 450 591 553 623 805
Total Current Liabilities 3802 3856 5629 4611 3824 4219 5784 5841 6424 7139 8043
Total Liabilities 10713 11416 15999 14346 12856 13197 14781 15082 15815 16443 17861
Fixed Assets 4247 5843 8239 7977 7455 7120 7163 7491 7316 7357 7372
Other Non-Current Assets 1634 561 927 660 722 737 1189 1772 1783 1819 1584
Total Current Assets 4832 5012 6833 5611 4679 5337 6430 5818 6717 7267 8906
Total Assets 10713 11416 15999 14346 12856 13197 14781 15082 15815 16443 17861

Jindal Saw Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 295 290 87 290 178 97 72 144 173 552 497
Cash Flow from Operating Activities 222 109 -183 917 1163 565 1567 1665 1570 73 1617
Cash Flow from Investing Activities -1482 -615 -874 -498 -426 -120 -516 -469 -359 -191 -70
Cash Flow from Financing Activities 1255 359 1253 -512 -816 -470 -977 -1168 -831 61 -1968
Net Cash Inflow / Outflow -5 -148 196 -93 -79 -25 74 28 380 -57 -421
Closing Cash & Cash Equivalent 290 142 290 178 97 72 144 173 552 497 78

Jindal Saw Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) -0.68 -3.1 -0.5 -1.32 3.56 5.58 26.59 17.35 9.97 12.88 19.78
CEPS(Rs) 7.21 8 9.03 10.21 14.63 11.39 36.66 27.61 24.6 26.55 28.57
DPS(Rs) 1 1 1 1 1 1.2 2 2 2 2 3
Book NAV/Share(Rs) 132.61 129.03 185.84 168.2 168.44 171.89 196.47 211.52 218.39 230.31 247.77
Core EBITDA Margin(%) 8.72 9.21 9.49 8.44 9.84 11.63 11.82 12.59 11.11 10.19 8.98
EBIT Margin(%) 3.86 4.99 7.61 7.48 10.37 8.35 13.23 9.34 9.3 8.13 7.54
Pre Tax Margin(%) 0.45 -0.66 0.5 -1.07 2.63 1.56 8.15 4.01 4.68 4.67 3.97
PAT Margin (%) -0.29 -1.44 -0.86 -0.21 1.77 0.01 6.4 3.97 3.07 2.83 2.48
Cash Profit Margin (%) 2.87 3.18 3.08 3.92 6.37 4.25 9.67 7.59 7.38 6.38 5.11
ROA(%) -0.2 -0.91 -0.54 -0.11 0.96 0 5.55 3.09 2.12 2.33 2.58
ROE(%) -0.54 -2.77 -1.64 -0.32 2.48 0.01 13.18 7.07 4.77 5.24 5.79
ROCE(%) 3.31 3.77 5.63 4.54 6.27 6.1 13.45 9 8.19 8.58 10.46
Receivable days 85.24 89.92 81.13 87.07 77.91 71.07 62.71 64.09 68.3 53.95 54.83
Inventory Days 103.6 97.32 105.12 125.35 118.69 101.71 85.11 92.21 95.94 91.59 80.28
Payable days 65.85 72.27 67.57 59.2 43.62 36.47 57.99 84.42 101.13 80.3 74.12
PER(x) 0 0 0 0 23.44 21.32 3.26 2.64 7.44 6.99 7.36
Price/Book(x) 0.62 0.44 0.35 0.23 0.5 0.69 0.44 0.22 0.34 0.39 0.59
Dividend Yield(%) 1.22 1.77 1.52 2.59 1.2 1.01 2.31 4.37 2.7 2.22 2.06
EV/Net Sales(x) 1.06 1.11 1.18 1.11 1.24 1.18 0.68 0.56 0.63 0.6 0.51
EV/Core EBITDA(x) 10.4 10.08 9.54 9.02 8.65 8.52 5.09 4.02 4.64 5.14 4.95
Net Sales Growth(%) 12.07 -1.61 23.32 -6.16 -8.21 20.32 42.44 -4.04 -8.29 24.71 34.36
EBIT Growth(%) -40.29 29.72 87.15 -8.36 28.21 -6.12 124.14 -32.22 -8.69 9.02 24.59
PAT Growth(%) -110.58 -402.87 26.7 76.81 864.96 -99.53 0 -40.56 -28.95 14.69 17.79
EPS Growth(%) -109.98 -353.41 83.88 -164.26 369.77 56.89 376.28 -34.75 -42.53 29.14 53.59
Debt/Equity(x) 1.41 1.68 1.5 1.47 1.16 1.15 0.91 0.8 0.73 0.79 0.59
Current Ratio(x) 1.27 1.3 1.21 1.22 1.22 1.26 1.11 1 1.05 1.02 1.11
Quick Ratio(x) 0.8 0.8 0.68 0.68 0.62 0.68 0.56 0.54 0.59 0.49 0.6
Interest Cover(x) 1.13 0.88 1.07 0.88 1.34 1.23 2.61 1.75 2.01 2.35 2.11
Total Debt/Mcap(x) 2.28 3.83 4.25 6.43 2.33 1.67 2.07 3.68 2.14 2.01 1.01

Jindal Saw Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 63.02 63.02 63.02 63.02 63.02 63.25 63.26 63.26 63.26 63.27
FII 12.38 11.61 11.85 11.69 11.03 14.94 15.92 17.7 15.22 14.65
DII 0.88 0.83 0.86 0.85 0.91 1.2 1.18 1.66 2.27 2.99
Public 23.72 24.53 24.27 24.44 25.04 20.61 19.65 17.38 19.25 19.08
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 238% CAGR over last 5 years
  • Debtor days have improved from 80.3 to 74.12days.
  • Company has reduced debt.

Cons

  • Company has a low return on equity of 5% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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