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Jindal Stainless

NSEI:JSL
Snowflake Description

Undervalued with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JSL
NSEI
₹16B
Market Cap
  1. Home
  2. IN
  3. Materials
Company description

Jindal Stainless Limited operates as an integrated stainless steel manufacturing company in India and internationally. The last earnings update was 37 days ago. More info.


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JSL Share Price and Events
7 Day Returns
6.2%
NSEI:JSL
1.3%
IN Metals and Mining
1%
IN Market
1 Year Returns
-48.6%
NSEI:JSL
-18.1%
IN Metals and Mining
1%
IN Market
JSL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Jindal Stainless (JSL) 6.2% -12.2% -12.9% -48.6% 118.2% -45.9%
IN Metals and Mining 1.3% -5% -7.2% -18.1% 39.1% -20.2%
IN Market 1% -2.1% -0.7% 1% 30.4% 35.1%
1 Year Return vs Industry and Market
  • JSL underperformed the Metals and Mining industry which returned -18.1% over the past year.
  • JSL underperformed the Market in India which returned 1% over the past year.
Price Volatility
JSL
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Jindal Stainless undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Jindal Stainless to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Jindal Stainless.

NSEI:JSL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 24.8%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:JSL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.036 (1 + (1- 35%) (249.36%))
2.149
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (2 * 8.6%)
24.75%

Discounted Cash Flow Calculation for NSEI:JSL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Jindal Stainless is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:JSL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 24.75%)
2019 3,402.00 Analyst x1 2,727.05
2020 9,133.00 Analyst x2 5,868.57
2021 9,080.50 Analyst x2 4,677.22
2022 9,249.50 Est @ 1.86% 3,819.06
2023 9,579.51 Est @ 3.57% 3,170.59
2024 10,035.73 Est @ 4.76% 2,662.60
2025 10,597.61 Est @ 5.6% 2,253.84
2026 11,252.98 Est @ 6.18% 1,918.42
2027 11,994.98 Est @ 6.59% 1,639.21
2028 12,820.33 Est @ 6.88% 1,404.41
Present value of next 10 years cash flows ₹30,140.98
NSEI:JSL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹12,820.33 × (1 + 7.55%) ÷ (24.75% – 7.55%)
₹80,164.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹80,164.30 ÷ (1 + 24.75%)10
₹8,781.64
NSEI:JSL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹30,140.98 + ₹8,781.64
₹38,922.62
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹38,922.62 / 479.22
₹81.22
NSEI:JSL Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹81.34
Current discount Discount to share price of ₹34.15
= -1 x (₹34.15 - ₹81.34) / ₹81.34
58%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Jindal Stainless is available for.
Intrinsic value
>50%
Share price is ₹34.15 vs Future cash flow value of ₹81.34
Current Discount Checks
For Jindal Stainless to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Jindal Stainless's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Jindal Stainless's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Jindal Stainless's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Jindal Stainless's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:JSL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹2.97
BSE:532508 Share Price ** BSE (2019-06-26) in INR ₹34.1
India Metals and Mining Industry PE Ratio Median Figure of 138 Publicly-Listed Metals and Mining Companies 9.74x
India Market PE Ratio Median Figure of 2,825 Publicly-Listed Companies 15.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Jindal Stainless.

NSEI:JSL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:532508 Share Price ÷ EPS (both in INR)

= 34.1 ÷ 2.97

11.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Jindal Stainless is overvalued based on earnings compared to the IN Metals and Mining industry average.
  • Jindal Stainless is good value based on earnings compared to the India market.
Price based on expected Growth
Does Jindal Stainless's expected growth come at a high price?
Raw Data
NSEI:JSL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
53.9%per year
India Metals and Mining Industry PEG Ratio Median Figure of 17 Publicly-Listed Metals and Mining Companies 0.67x
India Market PEG Ratio Median Figure of 523 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

NSEI:JSL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.48x ÷ 53.9%

0.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Jindal Stainless is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Jindal Stainless's assets?
Raw Data
NSEI:JSL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹54.04
BSE:532508 Share Price * BSE (2019-06-26) in INR ₹34.1
India Metals and Mining Industry PB Ratio Median Figure of 167 Publicly-Listed Metals and Mining Companies 0.97x
India Market PB Ratio Median Figure of 3,653 Publicly-Listed Companies 0.96x
NSEI:JSL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:532508 Share Price ÷ Book Value per Share (both in INR)

= 34.1 ÷ 54.04

0.63x

* Primary Listing of Jindal Stainless.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Jindal Stainless is good value based on assets compared to the IN Metals and Mining industry average.
X
Value checks
We assess Jindal Stainless's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Jindal Stainless has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Jindal Stainless expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
53.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Jindal Stainless expected to grow at an attractive rate?
  • Jindal Stainless's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Jindal Stainless's earnings growth is expected to exceed the India market average.
  • Jindal Stainless's revenue growth is positive but not above the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:JSL Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:JSL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 53.9%
NSEI:JSL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 8.9%
India Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 7.6%
India Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
India Market Earnings Growth Rate Market Cap Weighted Average 16.7%
India Market Revenue Growth Rate Market Cap Weighted Average 9.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:JSL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:JSL Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 161,694 10,181 4,507 2
2020-03-31 147,501 10,741 2,803 3
NSEI:JSL Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 135,573 1,424
2018-03-31 116,377 14,525 3,430
2017-03-31 92,787 51,151 816

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Jindal Stainless's earnings are expected to grow significantly at over 20% yearly.
  • Jindal Stainless's revenue is expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:JSL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Jindal Stainless Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:JSL Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 10.30 10.50 10.10 2.00
2020-03-31 5.65 7.10 4.20 2.00
NSEI:JSL Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 2.97
2018-03-31 7.60
2017-03-31 2.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Jindal Stainless is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Jindal Stainless's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Jindal Stainless has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Jindal Stainless performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Jindal Stainless's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Jindal Stainless has delivered over 20% year on year earnings growth in the past 5 years.
  • Jindal Stainless's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Jindal Stainless's 1-year earnings growth is negative, it can't be compared to the IN Metals and Mining industry average.
Earnings and Revenue History
Jindal Stainless's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Jindal Stainless Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:JSL Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 135,573.30 1,423.80 2,119.10
2018-03-31 116,377.40 3,429.70 2,107.80
2017-03-31 92,786.60 815.70 1,760.40
2016-03-31 71,436.10 -5,567.90 4,411.90
2015-03-31 69,479.59 2,528.28 4,703.78
2014-03-31 128,690.65 -13,682.37 8,894.04
2013-03-31 113,047.44 -8,407.08 8,670.28

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Jindal Stainless has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Jindal Stainless used its assets less efficiently than the IN Metals and Mining industry average last year based on Return on Assets.
  • Jindal Stainless has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Jindal Stainless's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Jindal Stainless has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Jindal Stainless's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Jindal Stainless's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Jindal Stainless's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Jindal Stainless's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Jindal Stainless's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Jindal Stainless Company Filings, last reported 2 months ago.

NSEI:JSL Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 26,025.40 38,956.80 1,828.70
2018-03-31 24,741.90 50,148.10 594.30
2017-03-31 18,200.60 58,877.30 484.00
2016-03-31 17,169.40 103,473.90 670.30
2015-03-31 2,024.26 113,706.67 478.45
2014-03-31 836.13 120,335.88 735.08
2013-03-31 13,589.69 117,068.41 1,386.93
  • Jindal Stainless's level of debt (149.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (14334.1% vs 149.7% today).
  • Debt is well covered by operating cash flow (37.3%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Jindal Stainless's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Jindal Stainless has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Jindal Stainless's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Jindal Stainless dividends.
If you bought ₹2,000 of Jindal Stainless shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Jindal Stainless's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Jindal Stainless's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:JSL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
India Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 3.8%
India Market Average Dividend Yield Market Cap Weighted Average of 1447 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:JSL Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31
2020-03-31
NSEI:JSL Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2010-06-02 0.000 0.000
2009-06-25 0.000 0.000
2009-06-01 0.000 0.000
2008-07-23 2.000 4.138
2008-07-22 2.000 1.580

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Jindal Stainless has not reported any payouts.
  • Unable to verify if Jindal Stainless's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Jindal Stainless's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Jindal Stainless has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Jindal Stainless's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Jindal Stainless afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Jindal Stainless has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Jindal Stainless's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ratan Jindal
COMPENSATION ₹0
AGE 57
TENURE AS CEO 12.2 years
CEO Bio

Mr. Ratan Kumar Jindal has been the Managing Director of Jindal Stainless Limited since April 1, 2007. Mr. Jindal serves as Managing Director of Jindal Stainless UK Limited. He serves as the Managing Director of FZE. He served as the Managing Director of Nalwa Sons Investments Ltd. since 1989. Mr. Jindal has more than 30 years of experience in the steel industry. Mr. Jindal has been the Chairman and Director of Jindal Stainless (Hisar) Limited since November 2, 2015. He has been the Chairman of Jindal Stainless Limited since October 28, 2013. He served as the Vice Chairman of Jindal Stainless Limited from April 1, 2007 to October 28, 2013. He serves as a Non-Executive Director at Sanibel Tea Ltd., Jindal Stainless UK Limited, Jindal Stainless Mauritius Limited, Massillon Stainless Inc., USA and Nalwa Farms Pvt. Ltd. He serves as a Member of Board of the International Stainless Steel Forum. He serves as a Director of Sonabheel Tea Limited, Jindal Industries Private Limited, OPJ Investments & Holdings Ltd., Nalwa Fincap Limited, Nalwa Financial Services Limited, Jindal Stainless FZE Limited, JSL Group Holdings Pte. Limited and JSL Ventures Pte. Limited. He served as a Director of Shalimar Paints Limited from 1990 to September 28, 2016. He served as a Non-Executive Director of Jindal Steel & Power Limited until March 30, 2016. He served as a Director of Nalwa Sons Investments Ltd. from 1979 to November 18, 2005. He serves as a Director at Jindal Stainless Limited since April 1, 2007. He is a commerce graduate and has attended the Advanced Management Programme at Wharton Business School, USA.

CEO Compensation
  • Insufficient data for Ratan to compare compensation growth.
  • Ratan's remuneration is lower than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Jindal Stainless management team in years:

1.8
Average Tenure
53.5
Average Age
  • The average tenure for the Jindal Stainless management team is less than 2 years, this suggests a new team.
Management Team

Ratan Jindal

TITLE
Chairman & MD
AGE
57
TENURE
12.2 yrs

Abhyuday Jindal

TITLE
MD & Director
COMPENSATION
₹200K
AGE
29
TENURE
1.2 yrs

Anurag Mantri

TITLE
Chief Financial Officer
COMPENSATION
₹20M
TENURE
2.3 yrs

Rajiv Rajvanshi

TITLE
Senior Vice President of Strategy & Legal
COMPENSATION
₹11M
AGE
54

Navneet Raghuvanshi

TITLE
Company Secretary & Compliance Officer
TENURE
1.2 yrs

Vijay Sharma

TITLE
Vice President of Sales & Marketing
COMPENSATION
₹9M
AGE
55

Amitabh Akhauri

TITLE
Group CHRO
COMPENSATION
₹8M
AGE
53

S. Jain

TITLE
Head & Director of Hisar Unit
COMPENSATION
₹11M
AGE
59

Tarun Khulbe

TITLE
Senior VP of Projects & Whole Time Director
COMPENSATION
₹11M
AGE
53

Deepika Jindal

TITLE
MD & Director of JSL Architecture Ltd and MD of JSL Lifestyle Ltd
COMPENSATION
₹11M
AGE
53
Board of Directors Tenure

Average tenure and age of the Jindal Stainless board of directors in years:

3.8
Average Tenure
60
Average Age
  • The tenure for the Jindal Stainless board of directors is about average.
Board of Directors

Abhyuday Jindal

TITLE
MD & Director
COMPENSATION
₹200K
AGE
29
TENURE
1.8 yrs

Savitri Jindal

TITLE
Chairperson Emeritus
AGE
68
TENURE
5.7 yrs

Ratan Jindal

TITLE
Chairman & MD
AGE
57
TENURE
5.7 yrs

Tarun Khulbe

TITLE
Senior VP of Projects & Whole Time Director
COMPENSATION
₹11M
AGE
53
TENURE
1.1 yrs

Deepika Jindal

TITLE
MD & Director of JSL Architecture Ltd and MD of JSL Lifestyle Ltd
COMPENSATION
₹11M
AGE
53

Suman Khaitan

TITLE
Independent Director
COMPENSATION
₹410K
AGE
59

Tara Sankar Bhattacharya

TITLE
Non-Executive Independent Director
COMPENSATION
₹390K
AGE
70
TENURE
10.4 yrs

Gautam Kanjilal

TITLE
Non-Independent Nominee Director
COMPENSATION
₹430K
AGE
69
TENURE
9.2 yrs

Bhaswati Mukherjee

TITLE
Independent Director
COMPENSATION
₹250K
AGE
65
TENURE
1.9 yrs

Rajeev Uberoi

TITLE
Independent Director
COMPENSATION
₹100K
AGE
61
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Jindal Stainless individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
31. May 19 Buy Abhyuday Jindal Individual 29. May 19 30. May 19 132,997 ₹38.58 ₹5,131,060
03. Apr 19 Buy Abhyuday Jindal Individual 29. Mar 19 01. Apr 19 60,000 ₹41.41 ₹2,484,593
25. Mar 19 Buy Abhyuday Jindal Individual 20. Mar 19 22. Mar 19 100,000 ₹40.46 ₹4,046,218
22. Mar 19 Buy Abhyuday Jindal Individual 18. Mar 19 19. Mar 19 120,000 ₹39.44 ₹4,732,360
16. Mar 19 Buy Abhyuday Jindal Individual 14. Mar 19 15. Mar 19 150,000 ₹39.33 ₹5,899,138
04. Mar 19 Buy Abhyuday Jindal Individual 01. Mar 19 01. Mar 19 60,000 ₹2.00 ₹120,001
15. Feb 19 Buy Abhyuday Jindal Individual 13. Feb 19 14. Feb 19 115,000 ₹29.56 ₹3,399,020
29. Dec 18 Buy Abhyuday Jindal Individual 27. Dec 18 28. Dec 18 18,569 ₹32.88 ₹610,601
19. Dec 18 Buy Abhyuday Jindal Individual 17. Dec 18 18. Dec 18 50,000 ₹33.06 ₹1,652,855
14. Dec 18 Buy Abhyuday Jindal Individual 12. Dec 18 13. Dec 18 49,000 ₹33.20 ₹1,626,865
X
Management checks
We assess Jindal Stainless's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Jindal Stainless has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Does Investing In Jindal Stainless Limited (NSE:JSL) Impact The Volatility Of Your Portfolio?

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Therefore, it's a bit surprising to see that this stock has a beta value so close to the overall market. … What this means for you: It is probable that there is a link between the share price of Jindal Stainless and the broader market, since it has a beta value quite close to one.

Simply Wall St -

Have Insiders Been Buying Jindal Stainless Limited (NSE:JSL) Shares?

So before you buy or sell Jindal Stainless Limited (NSE:JSL), you may well want to know whether insiders have been buying or selling. … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' See our latest analysis for Jindal Stainless Jindal Stainless Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider purchase was by MD & Director Abhyuday Jindal for ₹5.9m worth of shares, at about ₹39.33 per share. … From our data, it seems that Jindal Stainless insiders own 2.2% of the company, worth about ₹412m.

Simply Wall St -

Why I Like Jindal Stainless Limited (NSE:JSL)

Jindal Stainless Limited (NSE:JSL) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of JSL, it.

Simply Wall St -

Jindal Stainless Limited (NSE:JSL): Is Growth Priced In?

Jindal Stainless Limited (NSE:JSL) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of ₹34.7 is based on unrealistic expectations. … See our latest analysis for Jindal Stainless? … According to the analysts covering the company, the following few years should bring about good growth prospects for Jindal Stainless

Simply Wall St -

How Does Jindal Stainless Limited (NSE:JSL) Affect Your Portfolio Volatility?

Volatility is considered to be a measure of risk in modern finance theory. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Are Insiders Buying Jindal Stainless Limited (NSE:JSL) Stock?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in Jindal Stainless Limited (NSE:JSL). … The Last 12 Months Of Insider Transactions At Jindal Stainless

Simply Wall St -

Jindal Stainless Limited (NSE:JSL): A Fundamentally Attractive Investment

Jindal Stainless Limited (NSE:JSL) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of JSL, it

Simply Wall St -

Taking A Look At Jindal Stainless Limited's (NSE:JSL) ROE

To keep the lesson grounded in practicality, we'll use ROE to better understand Jindal Stainless Limited (NSE:JSL). … That means that for every ₹1 worth of shareholders' equity, it generated ₹0.14 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Who Owns Jindal Stainless Limited (NSE:JSL)?

Today, I will be analyzing Jindal Stainless Limited’s (NSE:JSL) recent ownership structure, an important but not-so-popular subject among individual investors. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders.

Simply Wall St -

Should You Expect Jindal Stainless Limited (NSE:JSL) To Continue Delivering An ROE Of 13.96%?

With an ROE of 13.96%, Jindal Stainless Limited (NSE:JSL) outpaced its own industry which delivered a less exciting 10.96% over the past year. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden. … See our latest analysis for Jindal Stainless

Simply Wall St -

Company Info

Description

Jindal Stainless Limited operates as an integrated stainless steel manufacturing company in India and internationally. Its products include ferro alloys, slabs, hot rolled coils, plates and sheets, and cold rolled coils and sheets. The company’s products are used in automotive, railway and transport, architecture, building and construction, petrochemical, consumer goods, kitchenware, and food processing industries. Jindal Stainless Limited was incorporated in 1980 and is based in New Delhi, India.

Details
Name: Jindal Stainless Limited
JSL
Exchange: NSEI
Founded: 1980
₹15,622,626,116
479,221,660
Website: http://www.jslstainless.com
Address: Jindal Stainless Limited
Jindal Centre,
12, Bhikaiji Cama Place,
New Delhi,
Delhi, 110066,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 532508 Equity Shares Mumbai Stock Exchange IN INR 17. Nov 2003
NSEI JSL Equity Shares National Stock Exchange of India IN INR 17. Nov 2003
BDL JSLL GDS (REPR 2 SHS REG S) Bourse de Luxembourg LU USD 26. Sep 2006
Number of employees
Current staff
Staff numbers
1,512
Jindal Stainless employees.
Industry
Steel
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 12:49
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/05/23
Last earnings filing: 2019/05/20
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.