Jindal Stainless logo

Jindal Stainless share price

NSE: JSLBSE: 532508Ferrous MetalsMid Cap

Jindal Stainless Limited · Formerly JSL Stainless · Face value ₹2 · Listed Nov 2003
Last close ₹682.45up ₹0.30 (0.04%)BSE ₹683.10

Share price at the NSE close on 29 Oct 2026. Previous close ₹682.15.

29 Oct: open ₹682.20, high ₹687.85, low ₹678.15

52-week range of traded prices to 29 Oct 2026
₹652.25Low, 11 Jun 2026₹884.00High, 7 Jan 2026
Market cap
₹56,263 Cr170th largest listed
P/E
16.86
P/B
2.65
Dividend yield
0.59%
ROE
17.0%
ROCE
16.0%
Debt to equity
0.33
Volume, NSE
7,68,52165.0% delivered

Jindal Stainless share price chart

Daily closes since Nov 2015, adjusted for splits and bonuses. Earlier closes are left out: on 19 Nov 2015 a scheme of arrangement changed the share, and its terms are not stated.

−15.1%over a year · Nifty Metal +9.9% · Nifty 500 −8.4%

Results20-session average 5,80,644 shares a day, 55.2% delivered

About Jindal Stainless

Jindal Stainless Limited makes stainless steel products, from slabs, blooms, coils, plates and sheets to precision strips, wire rods, rebars, blade steel and coin blanks.1 It serves railways, automotive, infrastructure, consumer durables, architecture, process industries and oil and gas, from plants in India, Spain and Indonesia.2

SMR, an international market research firm, ranks it among the top 3 stainless steel producers worldwide.3 Its 16 manufacturing and processing facilities include its main plants at Jajpur in Odisha and Hisar in Haryana, and it makes steel mainly from scrap in electric arc furnaces.451 Subsidiaries make lifestyle products, pipes and tubes and long products and offer customised solutions; Iberjindal, its service centre in Spain, serves customers across Europe.6

Founded in 1970, it is part of the O P Jindal Group.78 Ratan Jindal is Chairman and Managing Director, and Abhyuday Jindal is Managing Director.98 Its promoters held 62.6% of its shares at the end of Sep 2026.10

Jindal Stainless key points

Results

  • In the quarter to Sep 2026, consolidated revenue was ₹12,874 crore, up 18% on a year earlier; EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹1,433 crore, up 3%, and profit after tax ₹898 crore, up 11%.11
  • In the year to Mar 2026, consolidated net revenue rose 9.3% to ₹42,955 crore, EBITDA rose 19.2% to ₹5,560 crore and profit after tax rose 27.4% to ₹3,185 crore.12
  • Sales volume was 664k tonnes in the quarter to Sep 2026, up 3%. In the half year to Sep 2026 it was 1,245k tonnes, down 2%, while consolidated revenue was ₹24,152 crore, up 14%.13
  • Net debt (loans from banks and financial institutions, less cash and bank balances) was ₹3,121 crore and net debt to equity 0.15 times at the end of Sep 2026, against ₹3,040 crore of net debt at the end of Mar 2026.1415

Sales volume mix

  • Share of sales volume by stainless steel series16
    Itemquarter to Sep 2026quarter to Sep 2025
    200 series (low nickel)37%34%
    300 series (chromium and nickel)47%49%
    400 series (ferritic, little or no nickel)17%17%
  • Share of sales volume, domestic and export1718
    Itemquarter to Sep 2026quarter to Sep 2025
    Domestic89%91%
    Export11%9%
    The company exports to more than 50 countries, including Japan, South Korea, Taiwan and Germany.

Plants and capacity

  • Melting capacity in million tonnes a year (MTPA)181920
    Itemyear to Mar 2026
    Jajpur2.2
    Hisar0.8
    Indonesia, 49% joint venture1.2
    Total melting capacity reached 4.2 MTPA, 3.0 MTPA of it in India, when the Indonesian melt shop was commissioned in the year to Mar 2026.
  • Subsidiaries add 3.2 MTPA of hot rolling and 0.2 MTPA of cold rolling at Jajpur, run by Jindal United Steel, and a 0.6 MTPA cold rolling mill at Mundra, Gujarat, run by Chromeni Steels.21

Raw materials

  • Scrap made up nearly 70% of total input in the year to Mar 2026.22
  • On its earnings call of 4 Aug 2026, the company said almost 90% to 95% of its scrap comes from India and South-East Asia.23
  • It holds 49% of a 0.2 MTPA nickel pig iron smelter in Indonesia, which supplies nickel, a main alloying input for stainless steel.1824
  • It has a chrome ore supply link with Odisha Mining Corporation and is developing captive mines at Sukinda.24

Expansion and capital spending

  • The company stated in its annual report for the year to Mar 2026 that it is commissioning a 1.1 MTPA hot rolled, annealed and pickled (heat-treated and acid-cleaned) line and a 0.17 MTPA cold rolled line at Jajpur, part of a ₹1,900 crore investment.25
  • The company stated in its annual report for the year to Mar 2026 that a further ₹900 crore at Hisar and Kharagpur and the Jajpur lines would lift its cold rolled annealed and pickled capacity from 2.05 MTPA to 2.67 MTPA by Mar 2028.26
  • The company said it spent ₹2,700 crore on capital expenditure in the year to Mar 2026, and on its earnings call of 4 Aug 2026 that its plan for the year to Mar 2027 is ₹2,400 crore to ₹2,600 crore.2027
  • The company stated in its annual report for the year to Mar 2026 that it plans a 4 MTPA coastal plant in Maharashtra, built in phases. On 4 Aug 2026 it said land acquisition was still under way.2827

What the company expects

  • On its earnings call of 4 Aug 2026, the company said it remains committed to its target of selling 3.5 million tonnes a year by Mar 2029.29
  • On its earnings call of 4 Aug 2026, the company said it hopes the Indonesian melt shop reaches 70% to 80% capacity utilisation in its first year of operation, as its partner's plants usually do.30

Recent events

  • On 22 Oct 2026, the board approved a draft scheme merging wholly-owned subsidiaries Chromeni Steels, Rabirun Vinimay, JSL Super Steel and Jindal United Steel into itself. It needs shareholder, creditor and tribunal approval; 1 Apr 2027 is the appointed date (the date it counts from).31
  • On 7 Sep 2026, the company announced it had entered into a technical assistance agreement with JFE Steel of Japan on product quality and manufacturing practices for selected ferritic stainless steel grades.32
  • On 25 Aug 2026, the company said CARE Ratings had upgraded the credit rating (an agency's view of its ability to repay) on its long-term borrowings and non-convertible debentures to CARE AA+ (Stable) from CARE AA, and reaffirmed CARE A1+ for short-term borrowings.33
  • From 1 Jul 2026, PT Glory Metal Indonesia, the Indonesian melt shop joint venture, became an associate (a company it holds a stake in but does not control) instead of a subsidiary; its shareholding and economic rights are unchanged.34

Results

Consolidated; ₹ crore.Jindal Stainless quarterly results

Revenue growth, 12 months
+11.7%
Net profit growth, 12 months
+20.6%

Quarter to Sep 2026, against the quarter before

Revenue
₹12,874 Crup 14.14%
Net profit
₹898 Crup 16.79%
Net margin
7.0%

Revenue by quarter

₹9,907 CrDec 24₹10,198 CrMar 25₹10,207 CrJun 25₹10,893 CrSep 25₹10,518 CrDec 25₹11,337 CrMar 26₹11,279 CrJun 26₹12,874 CrSep 26
Peak revenue ₹12,874 Cr, quarter to Sep 2026; lowest ₹9,907 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹654 CrDec 24₹590 CrMar 25₹715 CrJun 25₹808 CrSep 25₹828 CrDec 25₹834 CrMar 26₹769 CrJun 26₹898 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue9,90710,19810,20710,89310,51811,33711,27912,874
Net profit654590715808828834769898
Net margin6.6%5.8%7.0%7.4%7.9%7.4%6.8%7.0%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Manufacturing of Stainless Steel and Stainless Steel Products, which carries all its revenue.

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2023: days before it are of the company before the change.Jindal Stainless PE ratio and valuation

Price to earnings

At or below today's level on 47% of 2,119 trading days since May 2017.

LowestHighest
Its median18.39Industry median13.67
Price to book

At or below today's level on 56% of 1,950 trading days since Oct 2018.

LowestHighest
Its median2.40Industry median2.06
Dividend yield

At or below today's level on 97% of 2,479 trading days over the last 10 years.

LowestHighest
Its median0.00%Industry median0.57%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+22.8%+27.4%−4.1%0.6%
3 years+35.4%+14.7%+17.6%0.5%
5 years+60.6%+35.1%+18.5%0.5%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2021.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Jindal Stainless shareholding pattern

Shareholding by group

  • Promoters62.55%
  • Foreign institutions20.07%
  • Indian institutions7.74%
  • Individuals and others9.61%
  • Employee trusts0.02%
Holder
JSL OVERSEAS HOLDING LTDPromoter17.63%
JSL OVERSEAS LTDPromoter12.28%
Virtuous Tradecorp Private LimitedPromoter7.45%
ELM PAPARK FUND LIMITEDForeign portfolio investors, category I3.86%
Sun Investments Pvt LtdPromoter3.33%
ALBULA INVESTMENT FUND LTDForeign portfolio investors, category I2.08%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 0.60% of their shares. Since Jun 2026: promoters +0.50 pts, foreign institutions −0.38 pts, Indian institutions +0.39 pts, mutual funds +0.56 pts.

Mutual fund holdings

127 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 75 of the 88 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 2 more funds filed their first portfolio on record, holding it.All 127 funds holding Jindal Stainless

Bought for the first time
4
Added
47
Cut
41
Held unchanged
33
Sold out
1
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 30 Oct 2025.Jindal Stainless insider trading

Bought on the market Sold on the market
  • Promoters and promoter group20 purchases, 0 sales₹730 Cr1 more with no value filedNo saleNet₹730 Crof the trades with a value3 pledge filings of unclear kind
  • Others: no market trade · 3 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Jindal Stainless competitors and peers

Iron & Steel, 15 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Jindal Stainless in market cap.Metal stocks

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
JSW Steel logoJSW SteelJSWSTEEL3,07,00210.802.71+14.1%+371.9%29.0%14.3%0.57%
Tata Steel logoTata SteelTATASTEEL2,11,54619.172.07+10.5%+143.1%11.4%11.9%2.36%
Jindal Steel logoJindal SteelJINDALSTEL1,08,12937.882.06+25.5%+4.1%5.6%8.3%0.19%
Steel Authority of India logoSteel Authority of IndiaSAIL66,50111.871.06+9.4%+119.2%9.3%10.6%1.46%
Sarda Energy & Minerals logoSarda Energy & MineralsSARDAEN16,13914.292.19+5.9%+20.8%16.5%14.6%0.44%
NMDC Steel logoNMDC SteelNSLNISP11,406136.320.87+41.6%–0.6%2.7%0.00%
Vedanta Iron and Steel logoVedanta Iron and SteelVISL9,889–1.69––––0.00%
Sandur Manganese & Iron Ores logoSandur Manganese & Iron OresSANDUMA8,17111.392.51+45.2%+45.7%24.5%24.4%0.30%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Jindal Stainless dividend history

Dividend per share, ₹, restated for later splits and bonuses

Mar 17Mar 18Mar 19Mar 20Mar 21Mar 222.5Mar 233Mar 243Mar 254Mar 26
Highest ₹4.00 a share, year to Mar 2026.
Ex-dateTypePer share
21 Aug 2026Final₹3.00
29 Jan 2026Interim₹1.00
22 Aug 2025Final₹2.00
7 Feb 2025Interim₹1.00
30 Aug 2024Final₹2.00
27 Oct 2023Interim₹1.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Jindal Stainless announcements

Jindal Stainless share price by year

Each calendar year to 2025.Jindal Stainless share price history

YearClose at year endChangeHighest closeLowest close
2025839.25+20.0%839.25512.60
2024699.20+22.2%833.65529.95
2023572.10+139.2%572.10234.75
2022239.15+20.7%239.1597.60
2021198.20+161.8%198.2065.10
202075.70+95.9%80.1523.10
201938.65+13.0%43.1024.50
201834.20−67.2%126.0531.70
2017104.30+177.0%123.4538.70
201637.65+31.0%42.7014.25
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 2026705.00705.00678.00682.15689.599,47,49762.2%
27 Oct 2026690.00711.95683.90709.80704.353,28,53752.1%
26 Oct 2026688.10691.35667.00688.85679.204,68,64243.2%
23 Oct 2026701.10712.70678.60687.40688.739,23,28852.6%
22 Oct 2026723.00726.60702.25709.65714.423,84,32935.3%
21 Oct 2026735.35737.35712.40733.75725.884,51,33348.9%
19 Oct 2026740.00747.25728.20734.90738.538,84,80158.5%
16 Oct 2026723.95739.40717.00736.55735.634,42,66960.1%
15 Oct 2026713.60730.00709.00724.65722.784,97,37952.5%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.

Ex-dateEventPrice factorWhat happened
19 Nov 2015Scheme of arrangement–A scheme of arrangement is a court-approved plan that merges, splits off or reorganises parts of a company. One took effect here and the price moved by a fifth or more between two trading sessions. What shareholders received is not on record, so earlier prices are not shown.
Where an event has no factor that can be worked out, the chart leaves out the closes before it.

Company details

Chairperson and managing director
Ratan Jindal
At the end of the quarter to Sep 2026
Managing director
Abhyuday Jindal
At the end of the quarter to Sep 2026
Chief executive
Tarun Kumar Khulbe
At the end of the quarter to Sep 2026
NSE symbol
JSL
BSE code
532508
ISIN
INE220G01021
Industry
Ferrous Metals
Former symbols
JSTAINLESS
CIN
L26922HR1980PLC010901
Corporate identity number, the registrar of companies' code for it
Incorporated
1980
Registered office
O.P. Jindal Marg, Hisar 125005, Haryana
Share registrar
MUFG Intime India Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments