Jayaswal Neco Industries Limited (JNIL) is a mid-sized Indian steel and mining company headquartered in Nagpur, Maharashtra. Founded in 1976 as a small iron foundry, it has evolved into an integrated producer of sponge iron, pig iron, billets, alloy steel long products, and iron ore pellets, with captive mining operations in Chhattisgarh and Jharkhand. The company serves sectors like automotive, engineering, construction, and railways, and exports to select international markets. As of January 2026, JNIL is navigating a challenging phase—marked by 46.34% YoY profit decline, flat sales growth, and low return on equity—despite its strategic focus on vertical integration and cost control. This article provides a data-driven outlook on the Jayaswal Neco share price target 2026–2030.
Jayaswal Neco Industries: Company Overview
- Founded: 1976
- Managing Director: Mr. Ramesh Jayaswal
- NSE Symbol: JAYNECOIND
- Core Segments:
- Sponge Iron & Pig Iron (40%)
- Alloy Steel Long Products – bars, wire rods (35%)
- Iron Ore Mining & Pelletization (25%)
- Market Position: Mid-tier player in specialty steel; operates integrated plants in Chhattisgarh
JNIL’s strategy centers on captive raw material sourcing (iron ore from its own mines) to reduce input volatility and improve margins. However, it faces headwinds from high energy costs, competition from larger players (Tata Steel, SAIL), and weak pricing power.
Jayaswal Neco Industries: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹72.95 |
| Market Capitalization | ₹7,083.43 Cr |
| No. of Shares Outstanding | 97.10 Cr |
| P/E Ratio (TTM) | 18.95 |
| P/B Ratio | 2.68 |
| EPS (TTM) | ₹3.85 |
| Book Value (TTM) | ₹27.26 |
| ROE | 4.86% |
| ROCE | 12.58% |
| Dividend Yield | 0.00% |
| Face Value | ₹10 |
| Cash | ₹190.62 Cr |
| Debt | ₹2,738.35 Cr |
| Promoter Holding | 55.15% |
| Sales Growth (YoY) | 1.12% |
| Profit Growth (YoY) | –46.34% |
Jayaswal Neco Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹76 – ₹85 |
| 2027 | ₹80 – ₹92 |
| 2028 | ₹84 – ₹100 |
| 2029 | ₹88 – ₹110 |
| 2030 | ₹92 – ₹120 |
Jayaswal Neco Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹76 | ₹85 |
Jayaswal Neco reported a 46.34% YoY decline in profit in FY2025 due to falling steel realizations and rising coking coal costs. Despite this, it maintains a debt/equity ratio of ~1.0x and stable operations. Trading at a P/E of 18.95x and P/B of 2.68x, the stock appears fairly valued for a cyclical commodity business. A 2026 target range assumes a modest recovery in steel spreads and no major operational disruptions.
Jayaswal Neco Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹80 | ₹92 |
If the company benefits from India’s infrastructure push and stabilizes input costs, EPS could reach ₹4.20–₹4.50 by FY27. Assuming a P/E of 19–20x, the 2027 target range is justified.
Jayaswal Neco Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹84 | ₹100 |
By 2028, benefits from captive mining and product mix improvement should reflect in margins. A P/E of 20–21x on projected EPS of ₹4.50–₹4.80 supports the ₹84–₹100 band.
Jayaswal Neco Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹88 | ₹110 |
Long-term tailwinds include India’s steel demand growth and PLI schemes for specialty steel. If competition doesn’t erode pricing, EPS could reach ₹4.80–₹5.20 by FY29. At a P/E of 20–22x, the 2029 target is ₹88–₹110.
Jayaswal Neco Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹92 | ₹120 |
Over a five-year horizon, JNIL remains a cyclical, value-oriented play—not a compounder. A terminal P/E of 21–23x on FY30 EPS (~₹5.00–₹5.50) justifies the ₹92–₹120 range.
Jayaswal Neco Industries: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (Jayaswal Family) | 55.15% |
| Public & Retail | 43.35% |
| Foreign Institutional Investors (FII) | 1.29% |
| Domestic Institutional Investors (DII) | 0.21% |
High promoter holding ensures strategic continuity. Strong retail participation reflects speculative interest.
Jayaswal Neco Industries: Strengths vs Risks
Strengths:
- Integrated operations with captive iron ore mines
- Debt reduced from ₹3,436 Cr (2022) to ₹2,738 Cr (2025)
- Low valuation relative to peers (P/E: 18.95 vs industry avg: 25)
Risks:
- Very low ROE (4.86%) limits capital efficiency
- No dividend payout since listing
- Exposure to volatile coking coal and power prices
- Contingent liabilities of ₹1,200+ Cr require monitoring
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate to High |
| Ideal Time Horizon | 5+ years |
| Volatility | Higher than market average |
| Dividend/Income Potential | None (0% yield) |
| Best For | Value investors seeking exposure to India’s specialty steel cycle |
- Sponge iron used in EAF steelmaking
- Pig iron
- Billets and rolled alloy steel products
- Iron ore pellets from captive mines
- Promoters (Jayaswal family): 55.15%
- Public & Retail Investors: 43.35%
- FIIs & DIIs: Less than 1.5% combined
- NSE: JAYNECOIND
- BSE: 532673
Final Verdict
Jayaswal Neco Industries is a small-cap steel player with integration advantages but weak profitability. While not a high-growth stock, its current valuation offers limited downside for cyclical investors.
Our Jayaswal Neco share price target 2026–2030 (₹76 to ₹120) reflects cautious optimism—rooted in asset value but tempered by earnings uncertainty. Upside depends on steel cycle recovery; downside is cushioned by book value support.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Jayaswal Neco Consolidated Page (FY2025 + TTM)
- Finology Ticker – JAYNECOIND Financials & Analysis
- Groww.in – Jayaswal Neco Stock Profile
- Ministry of Steel – National Steel Policy 2017
- Company Annual Report FY2025
