Jindal StainlessNSE:JSL +0.01%92 Operating Margin % is 10.38% as of Mar. 2026, which is 14% above its 10-year median of 9.11. GuruFocus rates NSE:JSL with a GF Score™ of 92/100 and a GF Value™ of ₹784.04 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 616 Steel companies, Jindal Stainless ranks better than 84.09% on this metric.
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Jindal Stainless Operating Margin % Related Terms
Jindal Stainless Operating Margin % Historical Data
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The historical data trend for Jindal Stainless's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:JSL vs NUE, STLD, RS: Operating Margin % Comparison
For the Steel subindustry, Jindal Stainless's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Jindal Stainless Operating Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, Jindal Stainless's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Jindal Stainless's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Jindal Stainless's Operating Margin % for the fiscal year that ended in Mar. 2026 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Jindal Stainless (NSE:JSL) has a Operating Margin % of 10.38% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Jindal Stainless and its competitors. This is 14% above median its historical median of 9.11. Over the past decade, Jindal Stainless' Operating Margin % has ranged from 5.60 to 12.58. According to the industry distribution chart, Jindal Stainless ranks #98 out of 616 companies in the Steel industry, placing it in the top 15.9%.
Is Jindal Stainless' Operating Margin % too high?
Jindal Stainless' current Operating Margin % of 10.38% is 14% above median its 10-year median of 9.11. Over the past 10 years, this metric has ranged from a low of 5.60 to a high of 12.58. The Steel industry median Operating Margin % is 3.00. Jindal Stainless' value of 10.38% is 246% above this industry median. Based on the distribution chart, Jindal Stainless ranks #98 out of 616 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Jindal Stainless has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Jindal Stainless' Operating Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, Jindal Stainless ranks #98 out of 616 companies for Operating Margin %. This places Jindal Stainless in the top 16% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 3.00. Jindal Stainless' value of 10.38% is 246% above this benchmark. Historically, Jindal Stainless' own Operating Margin % has ranged from 5.60 to 12.58 over the past decade. While the company's 10-year median is 9.11 vs. the industry median of 3.00, Jindal Stainless has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Steel company?
The median Operating Margin % among Steel companies is 3.00, based on 616 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Jindal Stainless's current Operating Margin % of 10.38% is 246% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Jindal Stainless and its competitors. For the Steel industry, the median Operating Margin % is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Jindal Stainless's current Operating Margin % is 10.38%, which is 14% above median its own 10-year median of 9.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jindal Stainless stock overvalued right now?
Based on GuruFocus' analysis, Jindal Stainless (NSE:JSL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹784.04, compared to a current price of ₹695.05 — trading 11.4% below its estimated fair value. The current Operating Margin % is 10.38%, which is 14% above median its 10-year median of 9.11 and 246% above the Steel industry median of 3.00. Jindal Stainless' overall GF Score™ is 92/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Jindal Stainless (NSE:JSL), the current Operating Margin % is 10.38% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Jindal Stainless (NSE:JSL) Overvalued in 2026?
Based on GuruFocus' analysis, Jindal Stainless stock appears to be undervalued.
The current stock price of ₹695.05 is trading 11.4% below its estimated GF Value™ of ₹784.04.
GuruFocus considers Jindal Stainless to be Modestly Undervalued.
Key valuation signals for NSE:JSL:
Operating Margin %: 10.38% (14% above median its 10-year median of 9.11)
GF Value™: ₹784.04 vs. price of ₹695.05 (11.4% below fair value)
Industry Position: 246% above the Steel median (#98 of 616)
No single metric tells the full story. See the NSE:JSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Jindal Stainless Ltd is an India-based stainless steel manufacturing company. It offers products such as ferroalloys, stainless steel slabs, and blooms, hot rolled and cold rolled coils, plates, razor blade steel, precision strips, and coin blanks. The firm has a distribution network through its service centers and warehouses in both the Indian and overseas markets. Jindal derives the majority of the revenue from the sale of steel products.
92GF Score
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