Jindal Steel
Stock Snapshot
Price Performance
Vista Outlook
View Technicals Analysis →Basis of our Recommendation
Jindal Steel's management is focused on a strategic transition towards higher-margin, value-added products, supported by the successful ramp-up of its Angul facility and enhanced raw material security through captive mines. This aggressive capacity expansion, coupled with a disciplined capital allocation strategy, positions the company to leverage India's robust domestic demand for steel, particularly in infrastructure and automotive sectors. Despite facing near-term headwinds from rising coking coal prices and global steel demand weakness, management remains optimistic about achieving strong revenue growth and operational efficiencies. Vista's financial outlook reflects this optimism, forecasting accelerating revenue growth while acknowledging potential margin pressures. The anticipated commissioning of the slurry pipeline and increased capacity utilization are expected to drive operational improvements, supporting a fair valuation aligned with intrinsic value. Over the next 12-24 months, Jindal Steel's ability to navigate global pricing volatility and execute its strategic initiatives will be critical. Key opportunities include capturing domestic demand growth and optimizing logistics, while watchpoints include geopolitical risks and cyclical demand fluctuations
Why We Like This Stock
- Successful ramp-up of the Angul facility enhances capacity and supports revenue growth
- Strategic focus on high-margin, value-added products is expected to improve profitability
- Strong domestic demand in India provides a favorable backdrop for growth
Things To Watch Out For
- Rising coking coal prices may pressure margins in the near term
- Global steel demand weakness, particularly from China, poses risks to pricing
- Execution risks associated with ramping up new capacities and geopolitical tensions
Key Parameters
Financial Snapshot
| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 50,354 | 50,129 | 53,225 | 58,969 | 70,194 |
| Profit Before Tax (Cr.) | 6,161 | 5,468 | 5,284 | 4,390 | 8,472 |
| PBT Margin | 12.2% | 10.9% | 992.8% | 7.4% | 12.1% |
| Net Profit (Cr.) | 5,796 | 3,459 | 4,445 | 3,754 | 7,233 |
| Earnings Per Share | 56.9 | 33.6 | 43.7 | 36.8 | 71.1 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Anand Rathi | ▲ Buy | 1,410 | 27-Jul-2026 |
| CLSA | ▲ Buy | 1,420 | 27-Jul-2026 |
| Citigroup | ▼ Sell | 900 | 27-Jul-2026 |
| Elara Capital | ► Accumulate | 1,168 | 26-Jul-2026 |
| Emkay Global | ▲ Buy | 1,400 | 27-Jul-2026 |
| Goldman Sachs | ► Hold | 1,335 | 26-Apr-2026 |
| HSBC | ► Hold | 1,280 | 28-Apr-2026 |
| ICICI Securities | ▲ Buy | 1,254 | 27-Jul-2026 |
| IDBI Capital | ▲ Buy | 1,224 | 27-Jul-2026 |
| Kotak Securities | ► Add | 1,280 | 27-Jul-2026 |
| Macguire | ▲ Buy | 1,321 | 10-Apr-2026 |
| Morgan Stanley | ▲ Overweight | 1,340 | 11-Jun-2026 |
| Motilal Oswal | ▲ Buy | 1,200 | 27-Jul-2026 |
| Nomura | ▲ Buy | 1,350 | 26-May-2026 |
| Nuvama | ▼ Reduce | 1,154 | 23-Apr-2026 |
| Prabhudas Liladhar | ▲ Buy | 1,298 | 27-Jul-2026 |
| UBS | ► Neutral | 1,300 | 27-Jul-2026 |
Company Overview
Show Company Profile
Jindal Steel Limited operates in the steel, mining, and infrastructure sectors in India and internationally. It offers rails; medium and heavy hot-rolled parallel flange beams and column sections; plates and coils; angles and channels; cold heading quality, electrode quality, and high carbon wire rods; round bars; fabricated sections; Jindal Speedfloor concrete flooring solutions; Jindal Panther TMT rebars; semi-finished products, including slabs, billets, blooms, beam blank, and rounds; and Jindal Panther cement comprising Portland slag cement, Portland composite cement, and ground-granulated blast-furnace slag, as well as rockhard plates, cathode bards, and track shoes. The company also operates and maintains a total captive power plant capacity of 1,634 megawatts. In addition, it operates coal and iron ore mines located at various locations in India, Australia, and Africa. The company was formerly known as Jindal Steel & Power Limited and changed its name to Jindal Steel Limited in July 2025. Jindal Steel Limited was incorporated in 1979 and is based in New Delhi, India.