Market cap ₹1.03TNext earnings 2026-10-23Updated Oct 24, 2026 · valuation updating
Our verdict
No fair value
We are missing the financial data our models need for this company. It will appear once the data arrives.
Not valued: there are no financial statements on file yet.
ACCE opinionJindal Steel Limited (JINDALSTEL.NS)
Fair value
Not available
ACCE price target
₹1089
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ₹1016 at the close on 23 Oct 2026, 12:00 CEST.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
53
out of 100
P/E
38.0x
forward 11.6x
1-year return
+0.7%
Dividend yield
0.19%
Jindal Steel Limited in four questions
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Overview
ACCE thesis
Jindal Steel makes flat steel (hot-rolled coil, plate, and rails) alongside a sponge iron and pellet business, selling mostly into India's infrastructure and capital goods buyers. Its edge is integration: captive iron ore and coal feed its own blast-free direct reduction plants, which keeps input costs lower than for importers and smaller mills. Revenue growth of 25.9% is the headline, driven by capacity additions and the government's infrastructure spend. The trailing P/E of 38.8 against a forward P/E of 11.9 says earnings are expected to recover sharply from a cyclically depressed base, so the bet is on margin normalisation, not on the current multiple. Operating margin of 11.2% against a 50.8% gross margin looks like a definitional mismatch in the data, which is worth checking before anyone relies on either figure.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Earnings collapsing despite revenue growth
Revenue grew 25.9% year on year while earnings fell 43.7%, and Q2 2026 EPS missed by 36.6%. Net margin of 6.7% leaves little cushion if costs keep rising.
high
Heavy insider selling
Insiders sold $13.35M across the last 10 disclosed transactions against only $1.00M of buying. Insiders hold 63.9% of the company, so this selling is material.
moderate
Trailing valuation looks stretched
Trailing P/E of 38.8 sits far above forward P/E of 11.9, so the forward multiple relies on earnings recovering from the current slump. Price is 6.7% below the ACCE price target of ₹1089.00.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
Revenue grew 25.9% year over year in the latest filings, far ahead of its 1.3% five-year average pace.
On forward earnings the stock trades at 11.9 times, well below its 38.8 times trailing multiple.
Analysts' mean price target of INR 1222.91 sits 17.9% above the current share price.
Why it could disappoint
The latest quarter missed expectations, with earnings per share of 8.34 against 13.16 expected, a 36.6% shortfall.
A trailing P/E of 38.8 times is expensive for a basic materials producer with a net margin of only 6.7%.
The dividend yield is just 0.2%, so shareholders are paid little while they wait for the earnings to recover.
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