Jindal Saw Ltd.
Infrastructure · NSE
52-week range
₹153 – ₹260
From 52w high
-6.3%
RSI (14)
65.2
vs SMA 50 / 200
↑ 50 · ↑ 200
Jindal SAW is an infrastructure-sector pipes and tubes manufacturer trading at 241.90 rupees, up 30.76% over the past 3 months and above both its 50-DMA (205.87) and 200-DMA (191.92). Trailing PE stands at 15.89 — the lowest among its 6 tracked infrastructure peers — against a quality score of 17 out of 100, which ranks last in the same group. Five-year earnings CAGR of -52.2% and debt-to-equity of 38.19 characterise the fundamental backdrop.
- ✓Trailing PE of 15.89 is the lowest among 6 tracked infrastructure peers (next lowest: L&T at 33.79), representing a significant valuation gap relative to the sector.
- ✓Forward PE of 9.83 implies the market is embedding a material earnings recovery scenario relative to the trailing multiple, and FCF was positive in 4 of the tracked years.
- ✓Technical posture: stock is trading above both the 50-DMA (205.87, +17.5% gap) and 200-DMA (191.92, +26.0% gap); RSI at 63.15 is in neutral territory with no overbought signal.
- ✓A dividend of 2 rupees per share was recommended for FY26 despite declining profitability, and debt trend is classified as flat rather than rising per persistence data.
- ✗Five-year earnings CAGR of -52.2% and revenue decline of 8.2% over the same period reflect sustained deterioration in core financial performance, with Q4 FY26 again showing year-over-year contraction attributed to MENA market disruptions.
- ✗Debt-to-equity of 38.19 is materially elevated; combined with a ROE of 7.96% and quality score of 17 (ranked 6th of 6 peers), this indicates that high leverage is not generating commensurate returns on equity.
- ✗ROE cleared 15% in only 2 of tracked years; consistency score of 53 and a 5-year earnings CAGR of -52.2% point to a business that has not compounded shareholder returns reliably over the medium term.
- ✗News sentiment is skewed negative (2 of 3 articles negative), with FY26 results described as a sharp profitability decline and MENA disruption cited as a key operational headwind.
- ·Q4 FY26 consolidated net PAT was 1.39 billion rupees, with both revenue and profit declining year-over-year; management recommended a 2 rupee per share dividend despite the earnings contraction.
- ·MENA region disruptions are cited as a primary driver of FY26 profitability decline; the company's order book and debt position are noted as areas of relative stability in available coverage.
- ·Mean analyst rating of 1.0 across 2 analysts (1-5 scale, lower = more constructive); coverage is narrow at 2 analysts, limiting the statistical weight of the consensus.
- ?Does the 5-year earnings decline of 52.2% reflect a cyclical trough tied to MENA and steel-pipe demand cycles, or a structural shift in competitive positioning that affects future normalised earnings?
- ?At a debt-to-equity of 38.19 and ROE of 7.96%, what would the interest-coverage ratio need to look like for the balance sheet to be considered manageable, and what does the latest annual report show?
- ?The forward PE of 9.83 implies a significant earnings recovery — what are the specific volume, realisation, and margin assumptions that would need to hold for the company to reach that implied earnings level?
- ?How dependent is Jindal SAW's revenue on MENA export markets, and what is the historical pattern of demand cyclicality in those geographies relative to domestic infrastructure spending?
PE
15.9
Forward PE
9.8
ROE
+8.0%
Profit margin
+5.4%
D/E
38.19
Dividend yield
+0.8%
Quality score
17/100
ROE 5y above 15%
2/5 yrs
FCF 5y positive
4/5 yrs
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.Analysis generated 11 May 2026.