Recent Price Movement and Market Context
On 24 Nov 2025, Jindal Saw’s share price touched Rs.161.5, the lowest level recorded in the past year. This movement comes after the stock underperformed its sector by 1.32% on the day, continuing a three-day losing streak that has resulted in a cumulative return of -3.21% over this period. The stock is currently trading below all major moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a persistent downward trend in its price action.
In contrast, the broader market has shown resilience. The Sensex opened 88.12 points higher and is trading at 85,400.21, up 0.2% on the day. The index is approaching its 52-week high of 85,801.70, just 0.47% away, and has recorded a 2.62% gain over the past three weeks. Mega-cap stocks have been leading this upward momentum, with the Sensex trading above its 50-day moving average, which itself is positioned above the 200-day moving average, signalling a bullish market environment.
Financial Performance and Key Metrics
Jindal Saw’s financial results have shown notable challenges over recent quarters. The company reported a decline in net sales by 15.22% in the quarter ending September 2025, contributing to a series of negative results spanning three consecutive quarters. The March 2025 quarter marked the ninth consecutive quarter with negative results, underscoring a prolonged period of subdued financial performance.
Operating profit to interest ratio for the quarter stands at 2.95 times, which is among the lowest levels recorded, indicating tighter coverage of interest expenses by operating earnings. Profit after tax (PAT) for the quarter was Rs.151.89 crores, reflecting a 64.7% reduction compared to the average of the previous four quarters. Additionally, the dividend payout ratio (DPR) has contracted to 6.82%, the lowest in recent periods, signalling a cautious approach to shareholder returns amid financial pressures.
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Comparative Market Performance
Over the past year, Jindal Saw’s stock price has declined by 45.25%, a stark contrast to the Sensex’s 7.94% gain during the same period. The BSE500 index, representing a broader market segment, has generated returns of 6.72% over the last year, further highlighting the stock’s underperformance relative to the market and its peers.
The stock’s 52-week high was Rs.342.65, indicating that the current price level represents a significant retracement from its peak. This wide gap between the high and the current price reflects the challenges faced by the company in regaining investor confidence and market valuation.
Valuation and Operational Insights
Despite recent setbacks, Jindal Saw exhibits some positive long-term operational metrics. The company’s operating profit has grown at an annual rate of 22.13%, suggesting underlying business growth potential. Return on capital employed (ROCE) stands at 12.8%, which is considered an attractive level within the industry. Furthermore, the enterprise value to capital employed ratio is 0.9, indicating that the stock is trading at a discount compared to the historical valuations of its peers.
However, the company’s profits have declined by 30.5% over the past year, which aligns with the downward trend in its share price. The majority shareholding remains with the promoters, maintaining a stable ownership structure amid the stock’s price fluctuations.
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Sector and Industry Context
Jindal Saw operates within the Iron & Steel Products sector, which has experienced varied performance across different companies. While the broader market indices and mega-cap stocks have shown strength, mid and small-cap stocks in the sector have faced headwinds. The company’s current valuation discount relative to peers may reflect sector-specific pressures as well as company-specific financial results.
The stock’s trading below all key moving averages suggests that market participants are cautious, with the technical indicators signalling a continuation of the current trend until new developments emerge.
Summary of Key Data Points
To summarise, Jindal Saw’s stock has reached Rs.161.5, its lowest level in 52 weeks, following a three-day decline and underperformance relative to its sector. The company’s recent quarterly results show contraction in net sales and profits, with operating profit to interest coverage and dividend payout ratios at low levels. Despite some positive long-term growth metrics and attractive valuation ratios, the stock’s performance over the past year has lagged significantly behind the broader market indices.
Market conditions remain favourable for large-cap indices, but Jindal Saw’s share price reflects ongoing challenges within its financial results and market sentiment.
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