Jindal Supreme

Founded in March 1974, Jindal Supreme has evolved over five decades to become a prominent player in the steel products industry. The company has steadily expanded its manufacturing capabilities to meet the growing demands of India's infrastructure and industrialization phases.

The company's core business model revolves around the manufacturing of Mild Steel (MS) black pipes and tubes, galvanized pipes, and specialized infrastructure products. Its diverse portfolio includes metal beam crash barriers and Galvanized Iron (GI) tubular poles, which are critical for road safety and urban lighting.

Jindal Supreme serves a wide array of sectors, including water supply, plumbing, roads and highways, bridges, oil and gas, chemicals, agriculture, and rural electrification. This diversification allows the company to mitigate sector-specific risks by serving both government infrastructure projects and private industrial clients.

Operational scale is centered around its manufacturing facility located in Hisar, Haryana. This facility is well-equipped with advanced mills, welding plants, and galvanizing plants, enabling the company to maintain quality standards across its product range.

The company is promoted by Abhishek Jindal, who has led the organization's strategic expansion into higher-margin safety products like W-beam and Thrie-beam crash barriers in FY25 and GI tubular poles in FY26.

Jindal Supreme is launching a Mainboard IPO to raise approximately ₹124.88 Crores. The issue is structured as a combination of a fresh issue of ₹99.89 Crores and an Offer for Sale (OFS) of approximately 26,86,851 equity shares. The price band is set between ₹88 and ₹93 per share, with a minimum retail lot size of 161 shares. The IPO is scheduled to open on September 16, 2026, and close on September 18, 2026, with listing on BSE and NSE on September 23, 2026.

The primary objective for the fresh issue proceeds is the repayment or pre-payment of certain outstanding borrowings, amounting to ₹71.00 Crores, which demonstrates a commitment to improving the balance sheet health by reducing debt.

Financial performance shows steady top-line growth, with revenue increasing from ₹604.74 Crores in 2025 to ₹675.94 Crores in 2026. However, net profit (PAT) has seen some fluctuation, reporting ₹24.27 Crores in 2025 and slightly dipping to ₹22.53 Crores in 2026.

From a valuation perspective, the company reports a strong ROE of 26.28% and a basic EPS of ₹5.59 for FY26. When compared to peers like Vibhor Steel Tubes and Hi-Tech Pipes, the company maintains a competitive position in the steel tubes segment, although specific P/E ratios for the IPO price were not explicitly provided in the raw data.

Key investment strengths include the company's long operational history since 1974 and its recent successful diversification into highway safety products. The high proportion of fresh issue capital relative to OFS indicates that the promoters are not simply exiting, but are bringing capital into the business.

Risks include a debt-to-equity ratio of 1.24, which is relatively high, and the volatility of raw material prices in the steel industry. Investors should weigh the strong institutional interest against the current debt levels and the moderate profit growth trend.