Jindal Worldwide financials and balance sheet

NSE: JINDWORLDBSE: 531543Textiles & ApparelsSmall Cap

₹35.46₹1.38 (3.75%)BSE ₹35.41

Share price at the NSE close on 23 Oct 2026. Previous close ₹36.84.

52-week range of traded prices to 23 Oct 2026

₹17.85Low, 30 Mar 2026₹61.99High, 7 Sep 2026

Under NSE's long-term additional surveillance, stage I, on the list for 23 Oct 2026. The exchange puts a share here when its price has moved unusually, and trading in it carries extra conditions.

Market cap: ₹3,555 Cr1,035th largest listed
P/E: 41.9
P/B: 4.1
Dividend yield: Nonein the last 12 months
ROE: 10.3%
ROCE: 7.6%
Debt to equity: 0.65
Volume, NSE: 17,15,02240.6% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Jindal Worldwide annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Operating and net margin, per cent

Operating margin
Net margin

The years either side of a change of basis do not compare. From the year to Mar 2019, the company's revenue for that year, ₹2,212 Cr, differs from its quarters added, ₹2,351 Cr. From the year to Mar 2020, the company's revenue for that year, ₹2,199 Cr, differs from its quarters added, ₹2,142 Cr.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue2,286
Materials and goods−1,806
Employee costs−64
Other expenses−281
Operating profit134
Depreciation−17
Other income+9.5
One-off items0.0
Finance costs−44
Profit before tax82
Tax−20
Joint ventures+7.7
Net profit70

What the company owns

Receivables₹596 Cr
Plant, investments and other assets₹404 Cr
Cash and bank₹358 Cr
Inventory₹301 Cr

What pays for it: net worth and liabilities

Net worth₹861 Cr
Borrowings₹558 Cr
Owed to suppliers₹216 Cr
Other liabilities₹24 Cr

Jindal Worldwide business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Jindal Worldwide segment results by quarter

Revenue by segment

₹2,286 CrTotal

Textiles₹2,277 Cr99.6% of total
Electric Vehicles₹9 Cr0.4% of total

Profit by segment

Textiles₹142 Cr100.0% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Textiles
Revenue, ₹ crore
1,814
2,288
2,277
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
152
170
142
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Electric Vehicles
Revenue, ₹ crore
0
0
9
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
−7
−8
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	–	–	–	–	–	1,814	2,288	2,286
Company revenue, as in its results	2,212	2,199	1,700	2,559	2,070	1,814	2,288	2,286
Revenue	–	–	–	–	–	1,814	2,288	2,277
Revenue growth	–	–	–	–	–	–	26.1%	−0.5%
Profit	–	–	–	–	–	152	170	142
Profit growth	–	–	–	–	–	–	11.8%	−16.3%
Margin	–	–	–	–	–	8.4%	7.4%	6.3%
Return on capital	–	–	–	–	–	22.3%	22.8%	17.4%
Assets	–	–	–	–	–	1,699	1,749	1,613
Liabilities	–	–	–	–	–	1,018	1,002	794
Capital employed	–	–	–	–	–	681	747	819
Revenue	–	–	–	–	–	0	0	9
Profit	–	–	–	–	–	0	−7	−8
Margin	–	–	–	–	–	−332.3%	−2,277.8%	−94.4%
Return on capital	–	–	–	–	–	−0.4%	−16.2%	−19.6%
Assets	–	–	–	–	–	42	47	46
Liabilities	–	–	–	–	–	4	4	4
Capital employed	–	–	–	–	–	38	43	42

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Jindal Worldwide quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 13 Jun	Mar 2020Filed 3 Jul	Mar 2021Filed 23 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 30 May	Mar 2024Filed 28 May	Mar 2025Filed 13 Jun	Mar 2026Filed 25 May
Revenue from operations	1,158	1,650	2,212	2,199	1,700	2,559	2,070	1,814	2,288	2,286
	1,025	1,466	2,013	2,060	1,583	2,343	1,832	1,631	2,093	2,151
Materials and goods bought	722	959	1,551	1,734	1,248	1,870	1,372	1,318	1,727	1,806
Employee costs	9	12	29	12	12	15	50	54	68	64
Other expenses	294	495	432	313	323	458	410	259	299	281
Operating profit before depreciation	133	184	199	139	116	216	238	183	195	134
Operating margin	11.5%	11.2%	9.0%	6.3%	6.8%	8.5%	11.5%	10.1%	8.5%	5.9%
Materials, % of revenue	62.3%	58.2%	70.1%	78.9%	73.4%	73.1%	66.3%	72.7%	75.5%	79.0%
Employee costs, % of revenue	0.8%	0.7%	1.3%	0.6%	0.7%	0.6%	2.4%	3.0%	3.0%	2.8%
Other expenses, % of revenue	25.4%	30.0%	19.5%	14.3%	19.0%	17.9%	19.8%	14.3%	13.1%	12.3%
Depreciation and amortisation	49	53	88	45	29	30	34	34	34	17
Operating profit after depreciation	84	131	111	94	87	186	204	150	160	117
Other income	28	8	7	7	25	6	1	2	3	9
Finance costs	31	54	74	61	49	46	52	49	59	44
One-off items	0	0	0	0	0	0	0	0	0	0
Profit before tax	81	85	44	39	62	146	154	103	104	82
	14	27	13	11	18	37	38	27	28	20
Current tax	–	30	11	13	15	39	40	27	27	18
Deferred tax	–	−3	2	−2	3	−2	−2	0	1	3
Share of profit of joint ventures and associates	0	–	−1	0	0	−1	0	0	0	8
	67	59	30	28	44	109	116	76	76	70
Belonging to the company's shareholders	67	59	30	28	44	109	116	76	76	70
Belonging to outside owners of subsidiaries	–	–	0	0	0	–	–	0	0	0
Other comprehensive income	–	–	0	0	0	9	1	−3	−1	−5
Total comprehensive income	–	–	30	28	44	118	116	73	75	65
Net margin	5.8%	3.6%	1.4%	1.3%	2.6%	4.3%	5.6%	4.2%	3.3%	3.1%
Net margin without joint ventures and associates	5.7%	–	1.4%	1.3%	2.6%	4.3%	5.6%	4.2%	3.3%	2.7%

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 13 Jun	Mar 2020Filed 3 Jul	Mar 2021Filed 23 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 30 May	Mar 2024Filed 28 May	Mar 2025Filed 13 Jun	Mar 2026Filed 25 May
	350	376	420	536	650	719	790	861
	350	376	420	536	650	719	790	860
Share capital	20	20	20	20	20	20	100	100
Reserves	330	356	400	516	630	699	690	760
Belonging to outside owners of subsidiaries	1	0	0	–	0	0	0	0
	574	389	400	599	837	883	796	558
Repayable after a year	351	151	112	107	278	207	159	47
Repayable within a year	223	239	288	491	559	676	637	511
	683	568	462	589	739	804	836	742
Trade payables	363	260	118	86	155	110	179	216
Other financial liabilities	72	28	44	–	0	6	6	5
Other liabilities	24	29	13	7	22	12	13	9
Tax owed	1	12	0	4	2	0	0	0
	371	168	130	119	289	217	170	56
Other financial liabilities	8	6	5	–	0	0	0	0
Deferred tax	12	11	14	12	10	10	11	9
Total assets	1,405	1,112	1,013	1,244	1,677	1,741	1,796	1,659
	575	317	245	224	404	404	391	241
Plant in use, after depreciation	566	295	224	204	365	360	339	172
Plant being built	0	0	6	–	9	5	14	25
Intangible assets	0	0	0	0	4	13	9	7
Goodwill	2	1	1	1	1	1	2	2
Property held to earn rent	0	0	0	–	0	0	20	6
Investments	4	20	11	19	24	21	0	0
Stakes in joint ventures and associates	–	0	0	–	0	0	0	23
Other financial assets	1	1	1	1	1	4	5	5
Deferred tax	–	0	0	–	0	0	0	0
Other assets	2	0	3	0	0	0	0	0
	830	796	768	1,019	1,274	1,336	1,405	1,418
Inventories	275	245	280	257	323	332	325	301
Trade receivables	365	428	381	478	499	526	616	596
Cash and cash equivalents	10	7	14	9	13	4	28	37
Other bank balances	25	15	20	25	299	300	278	321
Current investments	0	0	0	0	0	0	0	0
Loans given	17	13	6	39	48	7	7	39
Other financial assets	61	39	9	1	2	4	8	3
Tax paid in advance	0	0	–	–	1	13	7	10
Other assets	79	49	56	210	89	148	137	112
Net debt	540	368	365	564	525	578	490	200

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 23 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 30 May	Mar 2024Filed 28 May	Mar 2025Filed 13 Jun	Mar 2026Filed 25 May
	98	−95	306	5	167	216
	130	−61	350	36	187	242
	−7	−292	109	−150	−7	105
Receivables	47	−96	−21	−28	−84	48
Inventories	−35	24	−66	−9	7	25
Payables	−32	−40	84	−49	70	32
Other working capital	14	−179	112	−63	0	0
Tax paid	−14	−32	−44	−31	−20	−21
Capital spending	17	4	210	33	22	24
Free cash flow	81	−99	96	−29	145	192
	67	−11	−212	−5	3	65
Plant and property sold	53	0	2	0	1	1
Interest received	1	1	0	1	1	0
	−152	105	184	−8	−147	−271
Borrowings raised	−101	160	238	131	6	14
Borrowings repaid	0	−5	0	−86	−93	−252
Dividends paid	0	3	2	4	4	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	13	0	278	−8	23	10

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Jindal Worldwide dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 13 Jun	Mar 2020Filed 3 Jul	Mar 2021Filed 23 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 30 May	Mar 2024Filed 28 May	Mar 2025Filed 13 Jun	Mar 2026Filed 25 May
	₹0.66	₹0.58	₹0.30	₹0.28	₹0.44	–	₹1.15	₹0.75	₹0.76	₹0.70
As stated that year	₹33.21	₹14.61	₹1.50	₹1.42	₹2.20	–	₹5.77	₹3.77	₹0.76	₹0.70
	₹0.66	₹0.58	₹0.30	₹0.28	₹0.44	–	₹1.15	₹0.75	₹0.76	₹0.70
As stated that year	₹33.21	₹14.61	₹1.50	₹1.42	₹2.20	–	₹5.77	₹3.77	₹0.76	₹0.70
	₹0.01	₹0.01	₹0.01	₹0.01	₹0.03	₹0.02	₹0.04	₹0.04	–	–
As declared that year	₹0.50	₹0.25	₹0.05	₹0.05	₹0.15	₹0.10	₹0.20	₹0.20	–	–
	–	–	₹3.49	₹3.75	₹4.19	₹5.34	₹6.48	₹7.17	₹7.88	₹8.58
On that year's share count	–	–	₹17.44	₹18.76	₹20.97	₹26.71	₹32.41	₹35.86	₹7.88	₹8.58
Dividend payout	1.5%	1.7%	3.3%	3.5%	6.8%	1.8%	3.5%	5.3%	–	–
Shareholder yield	–	–	–	–	0.0%	0.1%	0.0%	0.1%	0.1%	0.0%
Market cap at the year end (₹ crore)	520	2,513	1,424	622	964	5,627	6,432	6,268	7,156	1,815

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from. As stated that year and earnings per share are left blank for the year to Mar 2022: the earnings per share stated does not match any profit the filing states over the shares in issue, and the share count barely moved during the period.

Ratios

Consolidated, years to March.Jindal Worldwide PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 13 Jun	Mar 2020Filed 3 Jul	Mar 2021Filed 23 Jun	Mar 2022Filed 9 Jun	Mar 2023Filed 30 May	Mar 2024Filed 28 May	Mar 2025Filed 13 Jun	Mar 2026Filed 25 May
Revenue growth	14.7%	42.5%	–	–	−22.7%	50.6%	−19.1%	−12.4%	26.1%	−0.1%
Operating profit growth	−5.1%	38.6%	–	–	−16.3%	85.9%	10.2%	−23.1%	6.3%	−31.0%
Net profit growth	65.3%	−12.0%	−48.8%	–	55.2%	147.0%	6.0%	−34.6%	0.3%	−8.0%
Earnings per share growth	–	−12.0%	−48.7%	–	54.9%	–	–	−34.7%	0.8%	−7.9%
	–	–	8.6%	7.8%	11.1%	22.8%	19.5%	11.1%	10.1%	8.5%
	–	–	–	−0.7 pts	3.3 pts	11.7 pts	−3.3 pts	−8.5 pts	−1.0 pts	−1.6 pts
From the net margin	–	–	–	−0.4 pts	7.9 pts	7.1 pts	7.1 pts	−5.0 pts	−2.3 pts	−0.8 pts
From asset turnover	–	–	–	0.9 pts	−1.3 pts	7.6 pts	−11.2 pts	−3.7 pts	1.9 pts	0.2 pts
From borrowing	–	–	–	−1.2 pts	−3.3 pts	−3.0 pts	0.8 pts	0.1 pts	−0.7 pts	−1.0 pts
Return on capital employed	–	–	12.0%	12.2%	10.6%	16.4%	13.7%	9.3%	10.1%	8.3%
Cash conversion	–	–	–	–	221.4%	−86.6%	264.6%	6.4%	220.3%	309.5%
Interest cover	2.7	2.4	1.5	1.5	1.8	4.0	3.9	3.0	2.7	2.7
Debt to equity	–	–	1.64	1.04	0.95	1.12	1.29	1.23	1.01	0.65
Receivable days	–	–	60	71	82	68	88	106	98	95
Inventory days	–	–	65	52	82	50	86	92	69	61
Payable days	–	–	85	55	34	17	41	30	38	44
Cash conversion cycle, days	–	–	40	68	130	102	133	167	129	112
Working capital days	–	–	55	74	120	127	138	182	144	132
Asset turnover	–	–	1.57	1.75	1.60	2.27	1.42	1.06	1.29	1.32
Assets per rupee of net worth	–	–	4.02	3.47	2.67	2.36	2.46	2.50	2.34	2.09
Sales per rupee of plant	–	–	3.91	7.45	7.59	12.54	5.67	5.04	6.74	13.25
Capital spending to depreciation	–	–	–	–	0.59	0.14	6.18	1.00	0.64	1.39
Plant being built, % of plant in use	–	–	0.0%	0.0%	2.9%	–	2.5%	1.3%	4.2%	14.8%

Revenue growth and operating profit growth are left blank for the year to Mar 2019: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. Revenue growth, operating profit growth, net profit growth and earnings per share growth are left blank for the year to Mar 2020: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 4.0%
Cash from operations against operating profit: 160.8%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	8.5%	6.1%	3.4%
Profit growth, yearly rate	5.7%	9.6%	−15.5%
Return on equity, average	–	14.4%	9.9%
Return on capital employed, average	–	11.6%	9.2%
Operating margin, average	8.9%	8.9%	8.2%
Net margin, average	3.5%	4.1%	3.5%
Asset turnover, average	–	1.47	1.23
Cash conversion cycle, days, average	–	129	136
Interest cover, average	2.6	3.3	2.8
Debt to equity, average	–	1.06	0.96

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	600	388	216
Cash from investing	−161	62	65
Cash from financing	−136	−425	−271
Capital spending	293	79	24
Dividends paid	13	8	0
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	549	152	14
Borrowings repaid	436	431	252

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	8	7	5	4	6	6
Altman Z-scorePublished threshold 1.81	–	–	3.11	3.47	3.93	8.33	6.30	5.94	6.76	4.12
Beneish M-scorePublished threshold −1.78	–	–	–	–	−0.69	−1.81	−0.79	−1.87	−2.01	−2.62
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−11.35	19.04	1.49	4.45	−5.31	−12.20
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	1.15	0.72	1.79	1.75
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	17.90	11.84	−25.28	23.48	17.75	−8.94	−3.10
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−22.71	42.52	−58.37	52.49	6.80	−33.09	−12.16
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−2.33	−1.35	5.70	−5.77	4.11	−0.65	−1.19
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	–	–	–	0.05	0.17	1.02	–
Effective tax ratePublished threshold 17.16 per cent	17.83	31.24	30.30	27.54	29.17	25.03	24.88	26.19	26.80	24.70
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	3.44	−3.40	−4.46	7.60	−0.49

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
19 Feb 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Long Term Bank Facilities	IVR AReview, Re-affirm	Stable	307.69
19 Feb 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Short Term Bank Facilities	IVR A1Review, Re-affirm		189

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.