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JTL Defence Ltd (537254) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

BSE: 537254 NSE: | Metal - Non Ferrous | Small Cap

JTL Defence Share Price

282.40 13.42 (4.99%)
As on 04-May'26 16:59

JTL Defence Ltd (537254)

BSE: 537254 NSE:
Key Metrics
Market Cap
₹283 Cr.
P/E Ratio
0.00
Price to Book (P/B)
-1.79
Price to Sales (P/S)
288.92
EV/EBITDA
-540.60
Return on Capital Employed (ROCE)
-7.52%
Current Price
₹282.4
Return on Equity (ROE)
0.00%
Return on Assets (ROA)
-6.53%
Operating Profit Margin
-117.9%
Net Profit Margin
-657.25%
Gross Profit Margin
-97.8%
Book Value per Share
₹-150.1
Sales Growth (YoY)
-57.39%
Sales Growth (3 Years)
-74.58%
Operating Profit Growth (1 Year)
NA%
Operating Profit Growth (3 Years)
N/A%
Net Profit Growth (1 Year)
NA%
52-Week Low / High
₹4 / 269
Net Profit Growth (3 Years)
N/A%
Dividend Yield
0.00%
Promoter Holding
95.00%
Pledged shares (%)
of Promoter's holding (%)
0.00%

Check Before You Invest

Q.1 Stock return of JTL Defence Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 13.5% based on the current price.
Q.1 Revenue growth of JTL Defence Ltd?
JTL Defence Ltd revenue growth is -57.4% for FY-2025, which is above its 5-year CAGR of -69.78%, indicating faster growth.
Q.1 Which industry/sub-sector does JTL Defence Ltd belong to?
JTL Defence Ltd belongs to the Metals & Mining sector, operating specifically within the Metal - Non Ferrous segment.
Q.1 Promoter shareholding and pledge status of JTL Defence Ltd?
Promoters hold 95.00% of the JTL Defence Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Revenue growth of JTL Defence Ltd vs industry peers?
JTL Defence Ltd revenue CAGR is -69.78%, compared to the industry median CAGR of 16.84%, indicating slower growth and losing its market share.

DeciZen - make an informed investing decision on JTL Defence

Based on:

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity

1. Quality

2. Valuation

Overvalued

3. Price Trend

Weak

JTL Defence stock performance

Key Ratios
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Is JTL Defence Ltd an attractive stock to invest in?

1. Is JTL Defence Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that JTL Defence Ltd is a below average quality company.

2. Is JTL Defence Ltd undervalued or overvalued?

The key valuation ratios of JTL Defence Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is JTL Defence Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of JTL Defence Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray :

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
JTL Defence Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 12.5%11.5%15.4%16.3%-41.8%-39.8%-48.6%-12.1%-10.6%-7.5%-
Value Creation
Index
-0.1-0.20.10.2-4.0NANANANANA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,1481,3841,6161,63738968.859.7232.311
Sales YoY Gr.-20.6%16.8%1.3%-76.3%-82.3%-13.3%-61.4%-90%-57.4%-
Adj EPS 3.26.810.214.2-83.9-57-44.2-11-5.9-4.1-6.1
YoY Gr.-111.6%51%39.3%-689.1%NANANANANA-
BVPS (₹) 4376.7124.3136.326-31.7-77.5-88.5-94.4-98.5-150.1
Adj Net
Profit
3.59.113.719.1-132-89.4-69.3-17.2-9.2-6.4-6
Cash Flow from Ops. -5.515.1-5.143.525.64.1-1.214.8-8.4-
Debt/CF from Ops. -19.110-23.73.49.357.1-200.5242.649.1-28.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -54.4%-69.8%-74.6%-57.4%
Adj EPS -202.8%NANANA
BVPS-209.7%-230.5%NANA
Share Price 13.5% 106.3% 323.4% 5248.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
7.712.110.210.9-117.42019.280.913.26.44.34.9
Op. Profit
Mgn %
1.51.92.63.7-24.2-114.1-94.9-30.1-98.5-117.933.8
Net Profit
Mgn %
0.30.70.91.2-33.8-129.9-116.1-74.7-401.8-657.3-657.6
Debt to
Equity
2.31.50.70.85.8-4.7-1.9-1.7-1.6-1.5-
Working Cap
Days
857573813019344035164,73710,9734,189
Cash Conv.
Cycle
393844582176552822041,8444,203-31,036

Recent Performance Summary

Sales growth is good in last 4 quarters at 353.74%

Return on Equity has declined versus last 3 years average to 4.90%

Sales growth has been subdued in last 3 years -74.58%

Latest Financials

Standalone Consolidated
TTM EPS (₹) -6.1 -6.1
TTM Sales (₹ Cr.) 1 1
BVPS (₹) -150.1 -150.1
Reserves (₹ Cr.) -169 -169
P/BV -1.79 -1.79
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 4.40 / 268.98
All Time Low / High (₹) 2.86 / 264.50
Market Cap (₹ Cr.) 283
Equity (₹ Cr.) 10.5
Face Value (₹) 10
Industry PE 22.6

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of JTL Defence - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,1481,3841,6161,63738969602321
Operating Expenses + 1,1311,3601,5741,5814831491203052
Manufacturing Costs97712953211
Material Costs1,1101,3371,5531,54444176712110
Employee Cost 15812954320
Other Costs 1112613246341311
Operating Profit 17244256-94-80-61-7-2-1
Operating Profit Margin (%) 1.5%1.7%2.6%3.4%-24.2%-116.0%-101.0%-30.1%-98.5%-117.0%
Other Income + 12551710010
Exceptional Items 0000-3700000
Interest 121319241601200
Depreciation 12511131211685
Profit Before Tax 5112327-143-92-72-14-10-6
Tax 2389-1-2-03-10
Profit After Tax 371518-142-91-72-17-9-6
PAT Margin (%) 0.3%0.5%0.9%1.1%-36.6%-131.0%-120.0%-74.7%-401.0%-657.0%
Adjusted EPS (₹)3.25.311.213.1-90.9-57.8-46.0-11.0-5.9-4.1
Dividend Payout Ratio (%)0%0%8.90%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 4710316718341-50-122-139-148-154
Share Capital 11131313161616161616
Reserves 369015417025-65-137-154-164-170
Debt +106151121148238233234236236236
Long Term Debt303053771717191919
Short Term Debt76121115111231216216217217217
Minority Interest0000000000
Trade Payables1061201251476394444
Others Liabilities 3621182927228146
Total Liabilities 29539543050836919511710910691

Fixed Assets

Net Fixed Assets +4215492857162564842
Gross Block92866116120112114114114114
Accumulated Depreciation571224354152586672
CWIP 0161010986666
Investments 5557171712121212
Inventories747210011849328100
Trade Receivables1751951972101694411121211
Cash Equivalents 75216132224101
Others Assets 30344756382116171818
Total Assets 29539543050836919511710910691

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -615-544264-115-8
PBT 5112327-143-92-72-14-10-6
Adjustment 11132132327048785
Changes in Working Capital -20-7-46-15137272387-7
Tax Paid -2-2-3-1-0-0-0000
Cash Flow From Investing Activity + -6-836-46901110
Capex -2-35-33-49-510000
Net Investments -5-4737113-10000
Others 1-222100110
Cash Flow From Financing Activity + 1366-02-34-50100
Net Proceeds from Shares 04900000000
Net Proceeds from Borrowing -2000000100
Interest Paid -12-13-19-24-16-0-0-200
Dividend Paid 00-1-1000000
Others 27301927-18-50100
Net Cash Flow 1-2100-0-026-8

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)7.629.4411.1810.01-127.22N/AN/AN/AN/AN/A
ROCE (%)12.4611.4915.416.33-41.75N/AN/AN/AN/AN/A
Asset Turnover Ratio4.084.073.933.490.890.240.380.20.020.01
PAT to CFO Conversion(x)-22.14-0.332.44N/AN/AN/AN/AN/AN/A
Working Capital Days
Receivable Days53.3048.1044.2045.50177.90563.60167179.601,864.804,247
Inventory Days21.501919.4024.4078.80216122.2068.7091.40153.20
Payable Days36.5029.10201242.101529.3064.301,822.300

Top 5 Mutual Funds Holding

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Announcements

JTL Defence Ltd FAQs

The current trading price of JTL Defence on 04-May-2026 16:59 is ₹282.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-May-2026 the market cap of JTL Defence stood at ₹283.1 Cr

The latest P/E ratio of JTL Defence as of 03-May-2026 is 0.00.

The latest P/B ratio of JTL Defence as of 03-May-2026 is -1.79.

The 52-week high of JTL Defence is ₹269.0 and the 52-week low is ₹4.40.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of JTL Defence is ₹0.98 ( Cr.) .

About JTL Defence Ltd

RCI Industries was incorporated as “Rameshchand Industries” under the provisions of the Companies Act, 1956 vide certificate of incorporation dated January 7, 1992. Subsequently, the name of the company was changed to “RCI Industries & technologies” vide fresh certificate of incorporation dated February 1, 2000.

RCI Industries is over Rs 250 crore diversified turnover conglomerate, which is committed towards high quality products and credit with several innovations over last twenty one years. The company further consolidated its position in the last five years through successful forays into diversified sectors like trading of all types of ferrous and Non ferrous Metals such as Copper Wires, ingot, scrap, power cables and other related items used in various electrical and industrial applications. Company also exports Indian Handicrafts especially metal based.

The company operates as an important intermediary in the Metals Supply Chain whereby its import/purchase materials such as Annealed/Un-Annealed Copper Wires, Bunched Copper Wires, Aluminium Wires etc from various suppliers and supply the same to customers in the Metal Business. Its product portfolio offers a diversified product range which includes variety of grades, thickness, widths and standards, in of all types of ferrous and Non ferrous Metals according to customer specifications. The company is one of the leading companies engaged in the sphere of offering and exporting Copper Wires which include Annealed Copper Wire, Bunched Copper Wire Ropes and Copper Ingots, which are used in different electrical and industrial applications. With experience of more than 21 years in the sphere of trading and exporting Copper Wires, the company understand current market trends and demand that has enabled it  to cater various industries such as manufacturing units, industries, automobile & engineering industry.

Products

Annealed /Un-Annealed Copper Wire: The Company is a leading exporter providing a finds its applications in different industries. Annealed Copper Wire is quality tested on varied parameter. Due to its high quality in conduction, the demand for this product is high.

Bunched Copper Wire:  The company provides  high tolerance Bunched Copper Wire Ropes that compensate for vibration, expansion and contractions. Its Bunched Copper Wire Ropes are used for various electrical and industrial purposes. These Bunched Copper Wire Ropes are used as connectors due to its flexibility and strength. Being kink-free, these could be tied in a knot like rope patterns at the insulator.

Copper Ingots: The company is a leading company engaged in manufacturing and exporting Copper Ingots, which resemble large bricks, are cast from remelted cathode or refined scrap. These Copper Ingots find their applications in tube mills that are used to operate small melting furnaces. It is globally appreciated as renowned manufacturer and supplier of Copper Ingots. Copper, which is an excellent conductor of heat, is used to make ingots for being malleable and ductile.

Aluminum Wires: The company offers offer a wide range of Aluminum Wires which are manufactured from high qaulity raw material and it also finds its applications in different industries. Its high quality double paper covered aluminium wires reel are manufactured as per IS specifications to provide optimum performance to the electrical appliances. This product is known for providing high performance and are widely used by the various manufacturers of electrical product

Continuous Cast Copper Rods: The company is a leading exporting company providing a wide range of continuous cast copper rods that finds its applications in different industries. Due to its high quality in conduction, it is appreciated in the market and is high in demand. These rods are primarily used in construction, cement industry, ship building industry and allied commercial setups. Moreover, these can be easily modified in accordance with client requirement and are delivered within stipulated time frame.

Copper Cathodes: The company offers a quality Copper Cathode that is known for its high level of copper concentration. High concentration of copper in the copper cathode scraps makes sure its wide applications in engineering, railway and in electronic industry. These are offered in the bundles containing sheets strapped together. The number of sheets in the bundle can be specified by clients as per their requirement.

Electric Distribution Transformer Scrap: The Company imports all types of electric distribution transformer scraps that have gained huge appreciation in the market for their exclusive features. Its entire range is procured from trustworthy source to avoid any kind of discrepancies at any point of time from the clients end.

Electric Motor Scrap:  The Company offers electric motor scraps which are highly acclaimed for its high tensile strength and longevity features. These electric motor scrap are recycled to fabricate unadulterated copper goods, tools and are extensively used for engineering and the railway field. It provides varied types of electric motor scrap as per the customers’ requirements.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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