Jindal Worldwide Limited (JINDWORLD)
₹41.92 +3.17% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Jindal Worldwide's revenue was ₹555 Cr (+2.7% year on year, -13.3% on the previous quarter), and net profit ₹32.4 Cr (+90.6% year on year); the operating margin was 5.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹555 | +2.7% | -13.3% |
| Operating profit | ₹30.1 | -24.7% | -26.5% |
| Net profit | ₹32.4 | +90.6% | +24.6% |
| EPS (₹) | 0.32 | +88.2% | +23.1% |
| Operating margin | 5.4% | — | — |
JINDWORLD delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 22.63% of the JINDWORLD shares traded on NSE were taken to delivery, against the stock's own 20-session average of 24.26%. That is close to its usual level. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 32.8% · 41.9% · 43.3% · 44.1% · 22.6%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Jindal Worldwide Limited announced the appointment of two Additional Directors designated as Non-Executive Independent Directors, effective September 30, 2026. Mr. Omprakash Ugamraj Bhandari (age 73), a Chartered Accountant with over 32 years of experience, and Mrs. Bhavi Shreyans Shah (age 43), a Fellow CA and Insolvency Professional, have been appointed for a 2-year consecutive term. Both appointments are subject to the approval of company members. Neither appointee is related to existing directors, strengthening board-level governance and oversight.
- Appointed Mr. Omprakash Ugamraj Bhandari (DIN: 00056458) as Non-Executive Independent Director for 2 consecutive years
- Appointed Mrs. Bhavi Shreyans Shah (DIN: 09850520) as Non-Executive Independent Director for 2 consecutive years
- Both appointments took effect on September 30, 2026, subject to shareholder approval
- Mr. Bhandari brings over 32 years of experience in auditing, taxation, and merchant banking
Shareholders of Jindal Worldwide Limited have approved the re-appointment of Mr. Amit Yamunadutt Agarwal as Managing Director at the 40th AGM held on September 1, 2026. The re-appointment is for a term of 3 consecutive years effective from September 3, 2026, to September 2, 2029, liable to retire by rotation. In addition, shareholders approved the re-appointment of Mr. Vikram Pushpak Oza as a Non-Executive Non-Independent Director.
- Re-appointment of Mr. Amit Yamunadutt Agarwal as Managing Director for 3 consecutive years
- MD term approved from 3rd September, 2026 to 2nd September, 2029 (liable to retire by rotation)
- Approved at the 40th Annual General Meeting held on 01st September, 2026
- Mr. Vikram Pushpak Oza re-appointed as Non-Executive Non-Independent Director
Jindal Worldwide Limited submitted its Scrutinizer's Report and voting results for the 40th Annual General Meeting held on September 01, 2026. All five proposed resolutions were passed with over 99.8% approval of votes polled. Key approved items include the adoption of FY26 financial statements, the re-appointment of Managing Director Mr. Amit Yamunadutt Agarwal, and an increase in authorized share capital. A total of 73.01 crore votes (72.82% of outstanding shares) were polled on general resolutions.
- All 5 AGM resolutions approved with >99.8% voting favor
- 73.01 crore votes polled representing 72.82% of total 100.26 crore outstanding equity shares
- Approval granted for increasing authorized share capital and altering the capital clause of MOA (99.95% favor)
- Re-appointment of Mr. Amit Yamunadutt Agarwal as Managing Director approved via special resolution (99.88% favor)
Jindal Worldwide Limited conducted its 40th Annual General Meeting (AGM) on September 01, 2026, via video conferencing. Key ordinary and special resolutions discussed included the adoption of FY2025-26 financial statements, the re-appointment of Mr. Amit Yamunadutt Agarwal as Managing Director, and an increase in the authorised share capital. Voting results through remote e-voting (held August 29–31, 2026) and e-voting post-AGM will be submitted separately.
- 40th AGM convened and concluded on September 01, 2026, between 3:00 P.M. and 3:38 P.M. IST
- Special resolution tabled to approve the re-appointment of Mr. Amit Yamunadutt Agarwal as Managing Director
- Special resolution tabled to approve an increase in authorised share capital and alter the Capital Clause of the MoA
- Remote e-voting window was open from August 29, 2026 (9:00 AM) to August 31, 2026 (5:00 PM)
Jindal Worldwide's EV subsidiary, Jindal Mobilitric Private Limited, has announced plans to expand its retail footprint to approximately 100 showrooms across India by the end of FY28. Under the phased rollout, the company targets opening around 40 showrooms by FY27 from its current 2 operational showrooms in Srinagar and Jaipur. The company has also appointed 52 dealers nationwide, supported by its operational manufacturing plant in Ahmedabad. This expansion marks an operational push to diversify beyond the core textile business (TTM revenue ₹2,300 Cr).
- Targeting ~100 cumulative EV showrooms across India by end of FY28
- Interim milestone set at ~40 showrooms targeted by end of FY27
- Current retail base stands at 2 operational showrooms in Srinagar and Jaipur
- 52 dealers already appointed across urban and semi-urban geographies
- Commercial production operational at manufacturing facility in Ahmedabad
Jindal Worldwide Limited has executed a corporate guarantee of ₹15.00 crore in favour of JIO Credit Limited to support credit facilities for its subsidiary, Jindal Mobilitric Private Limited. The guarantee was approved by the Operational Committee on August 25, 2026, and executed on August 29, 2026. This obligation will be reflected as a contingent liability on the company's balance sheet, representing approximately 1.78% of its net worth (₹841 crore).
- Corporate guarantee of ₹15.00 crore issued in favour of JIO Credit Limited
- Guarantee covers credit facilities for subsidiary Jindal Mobilitric Private Limited
- Approved by Operational Committee on August 25, 2026, and executed on August 29, 2026
- Will be accounted for as a contingent liability in the company's books
Jindal Worldwide Limited has submitted a clarification to the National Stock Exchange of India regarding a recent notable increase in trading volume. In response to NSE's surveillance letter dated August 27, 2026, the company confirmed that all price-sensitive information under Regulation 30 has been disclosed in a timely manner. The management stated that there are no pending announcements, internal developments, or undisclosed material events affecting operations. The company attributed the trading volume surge entirely to prevailing market conditions.
- Responded to NSE letter reference NSE/CM/Surveillance/17428 dated 27th August, 2026 regarding trading volume increase
- Confirmed full compliance with Regulation 30 disclosure requirements under SEBI LODR Regulations, 2015
- Clarified no pending price-sensitive or material information exists from management or KMPs
- Noted that the volume spurt on the exchange is purely market-driven
Jindal Worldwide Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26. The company reported a standalone turnover of ₹2,219.92 crore, with fabric manufacturing contributing 82.86% of the total. While the company serves 24 international countries, exports remain a relatively small portion of the business at 9.93%. Operational metrics show a significant rise in customer complaints to 767 (up from 267 in FY25) and a high worker turnover rate of 71.65%.
- Fabric manufacturing is the primary revenue driver, accounting for 82.86% of the ₹2,219.92 crore turnover.
- Export contribution stood at 9.93% of total turnover, serving 24 international markets.
- Customer complaints increased by 187% year-on-year, rising from 267 in FY25 to 767 in FY26.
- Worker turnover rate remains high at 71.65%, an increase from 56.63% in the previous year.
- The company maintains a total permanent workforce of 1,406 individuals (556 employees and 850 workers).
Jindal Worldwide has issued a notice for its 40th Annual General Meeting (AGM) scheduled for September 1, 2026. A key proposal includes increasing the Authorized Share Capital by ₹45 crore to a total of ₹146 crore, a 44.5% increase from the current level. The company is also seeking shareholder approval to re-appoint Mr. Amit Yamunadutt Agarwal as Managing Director for a 3-year term with an annual remuneration of ₹3 crore. Other routine items include the adoption of FY26 financial statements and ratification of cost auditor fees.
- Proposed increase in Authorized Share Capital from ₹101 crore to ₹146 crore
- Re-appointment of Managing Director for a 3-year term (2026-2029) with ₹3 crore annual salary
- AGM scheduled for September 1, 2026, with a cut-off date of August 25, 2026, for e-voting
- Ratification of Cost Auditor remuneration at ₹1,00,000 for FY 2026-2027
- Adoption of FY26 Audited Standalone and Consolidated Financial Statements
Jindal Worldwide's board has approved a Rights Issue of up to ₹650 crore to existing shareholders. The primary goal is to utilize these proceeds to become debt-free by FY27, addressing the current debt of ₹534 crore. This fundraise is significant, representing approximately 77% of the company's current net worth of ₹841 crore. The move is expected to reduce interest costs and improve financial flexibility in a low-margin textile environment.
- Approved fundraise of up to ₹650 crore via Rights Issue to existing shareholders
- Strategic target to eliminate total debt (currently ₹534 crore) by FY27
- Issue size represents approximately 16.5% of the current market capitalization of ₹3926 crore
- Fundraise amount is ~77.3% of the company's reported Net Worth of ₹841 crore
- Board approved seeking shareholder consent for an increase in Authorised Share Capital
Jindal Worldwide Limited (JWL) has approved a significant fundraise of up to ₹650 crore through a Rights Issue to eligible shareholders. This proposed amount is substantial, representing approximately 16.5% of the company's current market capitalization (₹3,926 Cr) and 77.3% of its net worth (₹841 Cr). The board also approved increasing the authorized share capital from ₹101 crore to ₹146 crore and re-appointed Mr. Amit Yamunadutt Agarwal as Managing Director for a new term starting September 3, 2026. Shareholders will vote on these proposals at the 40th AGM scheduled for September 1, 2026.
- Approved raising up to ₹650 crore through the issuance of equity shares on a Rights basis.
- Proposed increase in Authorized Share Capital by 44.5%, from ₹101 crore to ₹146 crore.
- Re-appointment of Mr. Amit Yamunadutt Agarwal as Vice-Chairman & Managing Director effective September 3, 2026.
- 40th Annual General Meeting (AGM) scheduled for September 1, 2026, with a voting cut-off date of August 25, 2026.
- Establishment of a 'Securities Issuance Committee' to finalize the issue price and rights entitlement ratio.
Jindal Worldwide reported a significant 85.8% YoY increase in consolidated net profit to ₹32.41 Cr for Q1 FY27, despite a modest 2.7% growth in consolidated revenue to ₹554.72 Cr. The profit jump was supported by a gain from the partial divestment of a step-down subsidiary in the EV segment and a ₹3.45 Cr contribution from associates. Standalone revenue grew more robustly at 18.9% YoY, indicating strong demand in the core textile business. EPS nearly doubled to ₹0.32, compared to ₹0.17 in the previous year's quarter.
- Consolidated Net Profit rose 85.8% YoY to ₹32.41 Cr from ₹17.44 Cr.
- Consolidated EPS increased by 88.2% to ₹0.32 from ₹0.17.
- Standalone revenue grew 18.9% YoY to ₹568.72 Cr, reflecting strong core textile demand.
- Textile segment revenue contributed ₹554.70 Cr on a substantial asset base of ₹1,724.26 Cr.
- EV segment reported a positive result, aided by a gain on the partial divestment of a step-down subsidiary.
Jindal Worldwide reported a 35.9% YoY increase in standalone revenue to ₹568.72 Cr for Q1 FY27, though revenue declined 13.2% sequentially from Q4 FY26. Net profit grew marginally by 6.2% YoY to ₹14.79 Cr, as margins were pressured by a 31.9% rise in raw material costs. A significant corporate change occurred on June 30, 2026, with the company disposing of a 45% stake in its step-down subsidiary EV Volt Pvt. Ltd., resulting in a loss of control and its reclassification as an associate. Finance costs showed improvement, decreasing 24.6% YoY to ₹7.51 Cr.
- Revenue from operations grew 35.9% YoY to ₹568.72 Cr, representing ~25% of TTM revenue.
- Standalone Net Profit increased 6.2% YoY to ₹14.79 Cr, but fell 24.2% compared to the previous quarter.
- Cost of materials consumed rose significantly to ₹450.15 Cr from ₹341.33 Cr in the year-ago period.
- Disposed of 45% equity interest in EV Volt Pvt. Ltd. on June 30, 2026, losing control over the subsidiary.
- Finance costs reduced to ₹7.51 Cr from ₹9.97 Cr in Q1 FY26, aiding the bottom line.
Jindal Worldwide Limited has issued a public notice regarding the mandatory transfer of equity shares to the Investor Education and Protection Fund (IEPF). This action is a statutory requirement under Section 124(6) of the Companies Act, 2013, for shares where dividends have remained unclaimed for seven consecutive years. The filing is purely procedural and has no impact on the company's financial performance or business operations. Shareholders who have not claimed their dividends for the specified period are advised to contact the company's Registrar and Transfer Agent (RTA) to prevent the transfer.
- Notice published on July 28, 2026, regarding the transfer of shares to the IEPF Authority.
- The transfer applies to equity shares where dividends have remained unpaid or unclaimed for 7 consecutive years.
- Compliance filing made under Regulation 30 of SEBI (LODR) Regulations, 2015.
- The company reported a TTM Revenue of Rs 2285 Cr, which remains unaffected by this administrative action.
Jindal Worldwide's subsidiary, Jindal Mobilitric, is commencing commercial operations of its maiden electric scooter, the R40, with dispatches expected to start in July 2026. The company has established a large-scale integrated manufacturing ecosystem in Ahmedabad with an annual capacity of 2.5 lakh units for both vehicles and batteries. Management has issued specific revenue guidance of ₹100 crore for FY 2027 and ₹350 crore for FY 2028, marking a major diversification from its core textile business. The project starts with an initial order book of 1,000 units and a network of 35 dealerships.
- Installed annual production capacity of 2.5 lakh electric two-wheelers and 2.5 lakh batteries in Ahmedabad.
- Management guidance of ₹350 crore revenue from the EV segment by FY 2028, representing ~15% of current TTM revenue.
- Initial order book of approximately 1,000 units secured prior to commercial launch.
- Expansion plan to increase dealership network from 35 to 100 locations within 12 months.
- R40 electric scooter offers a claimed range of 165 kilometres on a single charge.
Financial Performance
Revenue Growth by Segment
The Textile segment remains the primary driver, with consolidated revenue growing 10.8% YoY to INR 539.90 Cr in Q1-FY26. The company has recently introduced 'Electric Vehicles' as a separate reporting segment to provide better transparency, though specific revenue contribution for this new segment was not detailed in the Q1-FY26 highlights.
Geographic Revenue Split
Revenue is split between domestic and export markets. In Q1-FY26, domestic turnover grew by 7.3%, while export revenue surged by 44.9% YoY, indicating a strategic shift towards international markets to drive growth.
Profitability Margins
Profitability showed compression in Q1-FY26. The EBITDA margin stood at 7.46%, a decline of 212 bps from 9.58% in Q1-FY25. The PAT margin also contracted by 49 bps to 3.22% from 3.71% YoY, primarily due to changes in work-in-progress and finished goods inventory.
EBITDA Margin
EBITDA for Q1-FY26 was INR 40.3 Cr, representing a 13.7% YoY decline from INR 46.7 Cr. This margin contraction to 7.46% reflects the impact of inventory adjustments despite a 10.8% increase in operational income.
Capital Expenditure
The company reported no further debt-funded capital expenditure plans for FY26. Historical total debt stood at INR 837.38 Cr as of March 31, 2023, with a focus on improving debt protection metrics like the interest coverage ratio, which was 3.73x in FY25.
Credit Rating & Borrowing
Infomerics Ratings reaffirmed the long-term rating at 'IVR A/ Stable' and short-term rating at 'IVR A1' as of September 11, 2025. The company withdrew its proposed Commercial Paper rating of INR 50 Cr as it was not mobilized. Total bank facilities rated amount to INR 470.03 Cr.
Operational Drivers
Raw Materials
Primary raw materials include Cotton and Yarn, which are essential for the production of denim and shirting fabrics. These materials are subject to high price volatility, which directly impacts the cost of goods sold and overall EBITDA margins.
Import Sources
Not specifically disclosed in the documents, though the company operates primarily out of Ahmedabad, Gujarat, a major textile hub in India.
Capacity Expansion
The company revised the useful life of its spinning unit machines from 15 years to 30 years in Q1-FY26, which reduced depreciation expenses from INR 9.1 Cr to INR 5.1 Cr. While specific MTPA capacity was not listed, JWL is recognized as a leading denim manufacturer in India.
Raw Material Costs
Raw material costs are a significant portion of the expense structure, contributing to the 13.4% YoY increase in total expenses to INR 499.6 Cr in Q1-FY26. Procurement is seasonal, leading to high inventory requirements.
Manufacturing Efficiency
Efficiency is managed through integrated operations. The revision of machine useful life suggests a focus on long-term asset utilization and cost management in the spinning division.
Strategic Growth
Expected Growth Rate
10.80%
Growth Strategy
Growth is targeted through the normalization of business operations and capturing higher fabric demand in both domestic (+7.3%) and export (+44.9%) markets. The company is also diversifying into the Electric Vehicle sector and optimizing its portfolio by divesting non-core assets like Kashyap Tele-Medicines Ltd.
Products & Services
The company sells denim fabric, bottom weight fabric, shirting fabric, and yarn. It also provides services related to its new Electric Vehicle segment.
Brand Portfolio
Jindal Worldwide, Jindal Textiles.
New Products/Services
Introduction of the Electric Vehicle business as a separate segment is expected to contribute to future revenue, though the specific percentage contribution is not yet quantified.
Market Expansion
Aggressive expansion in the export market is evident from the 44.9% surge in export turnover in Q1-FY26, aiming to reduce dependency on the domestic market.
Market Share & Ranking
JWL is cited as one of the leading denim fabric manufacturers in India and the flagship company of the Ahmedabad-based Jindal Group.
Strategic Alliances
The company maintains a 100% subsidiary, Planet Spinning Mills Private Limited, for which it recently executed a corporate guarantee of INR 6.89 Cr to SIDBI for machinery purchase.
External Factors
Industry Trends
The textile industry is characterized by cyclicality and high competition. JWL is positioning itself for the future by diversifying into the EV sector and focusing on integrated manufacturing to maintain cost competitiveness.
Competitive Landscape
The industry is highly fragmented and competitive, with JWL competing against other large integrated textile players in the Ahmedabad hub and nationally.
Competitive Moat
The moat is built on 40 years of promoter experience and a fully integrated manufacturing model. This integration provides a durable cost advantage in the denim and shirting markets, though it is susceptible to raw material cycles.
Macro Economic Sensitivity
The company is sensitive to global textile demand and domestic consumer spending. A slowdown in GDP could reduce domestic fabric demand, which grew 7.3% in the latest quarter.
Consumer Behavior
Increased demand for denim and shirting in both domestic and international markets is driving the current 10.8% revenue growth.
Geopolitical Risks
Trade barriers or shifts in global textile supply chains could impact the export growth trajectory, which is currently a high-growth area for the firm.
Regulatory & Governance
Industry Regulations
Operations are subject to textile manufacturing standards and environmental norms regarding spinning and fabric processing. The company must also comply with SEBI (LODR) regulations for financial disclosures.
Taxation Policy Impact
The effective tax rate for Q1-FY26 was approximately 23.7%, with a tax expense of INR 5.4 Cr on a PBT of INR 22.8 Cr.
Legal Contingencies
The company has issued corporate guarantees for group companies totaling INR 603.70 Cr (77% of Tangible Net Worth), which are treated as contingent liabilities.
Risk Analysis
Key Uncertainties
Key risks include raw material price volatility and the successful integration of the new EV segment. A deterioration in the 3.74x Debt/EBITDA ratio could trigger a credit rating downgrade.
Geographic Concentration Risk
Manufacturing is concentrated in Ahmedabad, Gujarat, making the company susceptible to regional industrial policies or disruptions.
Third Party Dependencies
Dependency on SIDBI for subsidiary credit facilities (INR 6.89 Cr guarantee) and other lenders for the INR 470.03 Cr in bank facilities.
Technology Obsolescence Risk
The revision of machine life to 30 years suggests a reliance on older technology, which may pose a risk if competitors adopt more efficient, modern spinning technologies.
Credit & Counterparty Risk
Receivables management is critical given the working-capital-intensive nature of the textile business; however, specific bad debt figures were minimal (INR 0.16 Lakhs in the half-year statement).
