Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
JTL IndustriesNSE:JTLIND -2.37%95 Return-on-Tangible-Equity is 9.26% as of Mar. 2026, which is 58% below its 10-year median of 22.26. GuruFocus rates NSE:JTLIND with a GF Score™ of 95/100 and a GF Value™ of ₹116.55 (Possible Value Trap). The stock has 9 warning signs investors should review. Among 615 Steel companies, JTL Industries ranks better than 66.18% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. JTL Industries's annualized net income for the quarter that ended in Mar. 2026 was ₹1,377 Mil. JTL Industries's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹14,866 Mil. Therefore, JTL Industries's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 9.26%.
The historical rank and industry rank for JTL Industries's Return-on-Tangible-Equity or its related term are showing as below:
NSE:JTLIND'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 7.28 Med: 22.26 Max: 42.87
Current: 7.49
During the past 13 years, JTL Industries's highest Return-on-Tangible-Equity was 42.87%. The lowest was 7.28%. And the median was 22.26%.
NSE:JTLIND's Return-on-Tangible-Equity is ranked better than 66.18% of 615
companies
in the Steel industry
Industry Median: 4.05
vs NSE:JTLIND: 7.49
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
JTL Industries Return-on-Tangible-Equity Related Terms
JTL Industries Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for JTL Industries's Return-on-Tangible-Equity 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:JTLIND vs NUE, STLD, RS: Return-on-Tangible-Equity Comparison
For the Steel subindustry, JTL Industries's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
JTL Industries Return-on-Tangible-Equity vs Steel Industry
For the Steel industry and Basic Materials sector, JTL Industries's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where JTL Industries's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 9.26% mean?
JTL Industries (NSE:JTLIND) has a Return-on-Tangible-Equity of 9.26% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on JTL Industries and its competitors. This is 58% below median its historical median of 22.26. Over the past decade, JTL Industries' Return-on-Tangible-Equity has ranged from 7.28 to 42.87. According to the industry distribution chart, JTL Industries ranks #208 out of 615 companies in the Steel industry, placing it in the top 33.8%.
Is JTL Industries' Return-on-Tangible-Equity too high?
JTL Industries' current Return-on-Tangible-Equity of 9.26% is 58% below median its 10-year median of 22.26. Over the past 10 years, this metric has ranged from a low of 7.28 to a high of 42.87. The Steel industry median Return-on-Tangible-Equity is 4.05. JTL Industries' value of 9.26% is 128.6% above this industry median. Based on the distribution chart, JTL Industries ranks #208 out of 615 companies in the Steel industry, which is above the industry midpoint. Overall, JTL Industries has a GF Score™ of 95/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does JTL Industries' Return-on-Tangible-Equity compare to NUE and STLD?
According to the Steel industry distribution chart, JTL Industries ranks #208 out of 615 companies for Return-on-Tangible-Equity. This puts JTL Industries in the upper half of its industry. The industry median Return-on-Tangible-Equity is 4.05. JTL Industries' value of 9.26% is 128.6% above this benchmark. Historically, JTL Industries' own Return-on-Tangible-Equity has ranged from 7.28 to 42.87 over the past decade. While the company's 10-year median is 22.26 vs. the industry median of 4.05, JTL Industries 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 Return-on-Tangible-Equity for a Steel company?
The median Return-on-Tangible-Equity among Steel companies is 4.05, based on 615 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. JTL Industries's current Return-on-Tangible-Equity of 9.26% is 128.6% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on JTL Industries and its competitors. For the Steel industry, the median Return-on-Tangible-Equity is 4.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JTL Industries's current Return-on-Tangible-Equity is 9.26%, which is 58% below median its own 10-year median of 22.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JTL Industries stock overvalued right now?
Based on GuruFocus' analysis, JTL Industries (NSE:JTLIND) is currently considered Possible Value Trap. The stock's GF Value™ is ₹116.55, compared to a current price of ₹74.70 — trading 35.9% below its estimated fair value. The current Return-on-Tangible-Equity is 9.26%, which is 58% below median its 10-year median of 22.26 and 128.6% above the Steel industry median of 4.05. JTL Industries' overall GF Score™ is 95/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For JTL Industries (NSE:JTLIND), the current Return-on-Tangible-Equity is 9.26% 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 JTL Industries (NSE:JTLIND) Overvalued in 2026?
Based on GuruFocus' analysis, JTL Industries stock appears to be undervalued.
The current stock price of ₹74.70 is trading 35.9% below its estimated GF Value™ of ₹116.55.
GuruFocus considers JTL Industries to be Possible Value Trap.
Key valuation signals for NSE:JTLIND:
Return-on-Tangible-Equity: 9.26% (58% below median its 10-year median of 22.26)
GF Value™: ₹116.55 vs. price of ₹74.70 (35.9% below fair value)
Industry Position: 128.6% above the Steel median (#208 of 615)
No single metric tells the full story. See the NSE:JTLIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JTL Industries Ltd operates in the metal industry. The company manufactures and is involved in galvanized ERW Steel Pipes and Tubes, hollow sections, and structural steel extensively used in engineering and construction projects. The Company's business operations predominantly relate to the manufacture of a single product, i.e., ERW pipes for selling world wide. The company has a pan-India presence and is globally present in serving continents. It derives maximum revenue from India.
95GF Score
Get the complete analysis for NSE:JTLIND
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:JTLIND has been successfully added to your 
