Sector Alpha Week of 2026-07-29
20-quarter listed-company comparison

DI Pipes/Saw Pipes Stocks in India

DI Pipes/Saw Pipes: Jindal Saw Ltd owns the largest revenue base; Welspun Corp Ltd has the fastest current growth.

Nifty DI Pipes/Saw Pipes Index — Constituents & Performance

The DI Pipes/Saw Pipes companies below are the listed Indian DI Pipes/Saw Pipes universe this page tracks — the same constituent set people search for as the Nifty DI Pipes/Saw Pipes index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

The sector itself · before any single company

How has DI Pipes/Saw Pipes moved against NIFTY 500?

The line below covers 5.1 years. Over the most recent two of them this sector is 25% behind NIFTY 500. Earnings across its companies fell 37% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 24 weeks running.

FADING · −1 in 4w⚠Price down, no fundamental support2 of 4 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑24w · 2/4 >200d (+0) · 2/4 lead (−1) · EPS 1/4↑

20050010002000202620252024202320222021 1265335 TRAILING 12-MONTH EPS · 100 AT THE START0100234Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 200.0% on a year ago · 3 reportingDec 2023 · trailing 12-month earnings per share at 144, against 100 at the start · up 200.0% on a year ago · 3 reportingMar 2024 · trailing 12-month earnings per share at 175, against 100 at the start · up 163.9% on a year ago · 3 reportingJun 2024 · trailing 12-month earnings per share at 209, against 100 at the start · up 195.6% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 203, against 100 at the start · up 83.0% on a year ago · 3 reportingDec 2024 · trailing 12-month earnings per share at 177, against 100 at the start · up 24.9% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 207, against 100 at the start · down 1.6% on a year ago · 3 reportingJun 2025 · trailing 12-month earnings per share at 218, against 100 at the start · down 22.1% on a year ago · 3 reportingSep 2025 · trailing 12-month earnings per share at 234, against 100 at the start · down 37.1% on a year ago · 3 reportingDec 2025 · trailing 12-month earnings per share at 210, against 100 at the start · down 42.3% on a year ago · 3 reportingMar 2026 · trailing 12-month earnings per share at 174, against 100 at the start · down 44.0% on a year ago · 3 reportingSep 2022 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingDec 2022 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingMar 2023 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingJun 2023 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingJun 2026 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingNot reported yet — earnings trail price by a quarter or two174 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20050010002000202620252024202320222021 1265335 TRAILING 12-MONTH EPS · 100 AT THE START0100234Mar 24Mar 25Mar 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 200.0% on a year ago · 3 reportingDec 2023 · trailing 12-month earnings per share at 144, against 100 at the start · up 200.0% on a year ago · 3 reportingMar 2024 · trailing 12-month earnings per share at 175, against 100 at the start · up 163.9% on a year ago · 3 reportingJun 2024 · trailing 12-month earnings per share at 209, against 100 at the start · up 195.6% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 203, against 100 at the start · up 83.0% on a year ago · 3 reportingDec 2024 · trailing 12-month earnings per share at 177, against 100 at the start · up 24.9% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 207, against 100 at the start · down 1.6% on a year ago · 3 reportingJun 2025 · trailing 12-month earnings per share at 218, against 100 at the start · down 22.1% on a year ago · 3 reportingSep 2025 · trailing 12-month earnings per share at 234, against 100 at the start · down 37.1% on a year ago · 3 reportingDec 2025 · trailing 12-month earnings per share at 210, against 100 at the start · down 42.3% on a year ago · 3 reportingMar 2026 · trailing 12-month earnings per share at 174, against 100 at the start · down 44.0% on a year ago · 3 reportingSep 2022 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingDec 2022 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingMar 2023 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingJun 2023 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingJun 2026 · too few reporting — 2 of the DI Pipes/Saw Pipes filed a comparable quarter, and three is the floor for a readingNot reported yet — earnings trail price by a quarter or two174No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
DI Pipes/Saw Pipes, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling
Strength anatomy Broad but lateHow much of the sector is participating, how recently, and whether the movers score well.
Together2 of 4 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score +10 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large 1/10
Mid 1/2−1
Small 0/10

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 4 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is DI Pipes/Saw Pipes outperforming NIFTY 500?

The 52-week comparison of DI Pipes/Saw Pipes against NIFTY 500 is not available from the current market series. 2 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is broad. Welspun Corp Ltd is the strongest against the sector itself at +34.3%. Readings are as of 2026-07-19.

—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
2/4Stocks leading NIFTY 500
3/4Stocks leading sector

Sector metric: 28.4 as of 2026-07-19 · CONSOLIDATION · falling.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

The 52-week sector comparison is unavailable. 2 of 4 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Jindal Saw Ltd leads with revenue of ₹18,262 crore, based on 4 of 4 comparable companies through Jun 2026. Welspun Corp Ltd has the fastest current revenue growth at 20.2%, across 4 of 4 comparable companies.

Is the DI Pipes/Saw Pipes sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 2 of 4 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

Which DI Pipes/Saw Pipes company is largest by revenue?

Jindal Saw Ltd leads with revenue of ₹18,262 crore, based on 4 of 4 comparable companies through Jun 2026.

Which DI Pipes/Saw Pipes company is growing fastest?

Welspun Corp Ltd has the fastest current revenue growth at 20.2%, across 4 of 4 comparable companies.

Which DI Pipes/Saw Pipes company has the strongest 4-Factor Sector Score?

Welspun Corp Ltd ranks first at 69.3/100 with 87% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which DI Pipes/Saw Pipes company has the least gross debt?

Jai Balaji Industries Ltd has the lowest comparable gross debt at ₹417 crore. Jindal Saw Ltd has the highest at ₹4,691 crore.

Which DI Pipes/Saw Pipes company has the lowest comparable PEG?

Electrosteel Castings Ltd has the lowest comparable Guarded PEG at 0.35, among 4 of 4 companies that pass the metric’s comparability rules.

How much history does this DI Pipes/Saw Pipes comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies
4
complete canonical membership
Combined market value
₹68.5K Cr
Welspun Corp Ltd
Revenue growing
1/4
positive TTM year-on-year growth
Beating NIFTY 500
2/4
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Welspun Corp Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 87% evidence confidence.
Jindal Saw Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Welspun Corp Ltd · WELCORP

69.3/100 · Favorable setup · 87% evidence

Exact sum: 24.9 + 19.4 + 5 + 20 = 69.3

Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.

24.9/35Growth & earnings

Revenue 20.2% · PAT 15.8% · OPM change 2 pp

95% evidence

19.4/25Capital efficiency

ROCE 22.9% · debt/equity 0.26×

95% evidence

5.0/20Valuation

P/E 18.2× · PEG 4.69

50% evidence

20.0/20Relative strength

RS sector 34.3% · RS bench 59.3% · 1Y 71.3%

100% evidence

2. Jindal Saw Ltd · JINDALSAW

44.9/100 · Mixed-negative evidence · 97% evidence

Exact sum: 2.7 + 9.9 + 12.6 + 19.7 = 44.9

Decision use: Price leads the evidence: RS versus the benchmark is 31.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

2.7/35Growth & earnings

Revenue -8.6% · PAT -58.6% · OPM change -7 pp

100% evidence

9.9/25Capital efficiency

ROCE 10.4% · debt/equity 0.38×

100% evidence

12.6/20Valuation

P/E 25× · PEG 0.4

85% evidence

19.7/20Relative strength

RS sector 10.1% · RS bench 31.6% · 1Y 17.9%

100% evidence

3. Jai Balaji Industries Ltd · JAIBALAJI

38.6/100 · Mixed-negative evidence · 87% evidence

Exact sum: 4.5 + 18.8 + 12.3 + 3 = 38.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

4.5/35Growth & earnings

Revenue -13.1% · PAT -66.4% · OPM change -4.5 pp

88% evidence

18.8/25Capital efficiency

ROCE 36.1% · debt/equity 0.18×

100% evidence

12.3/20Valuation

P/E 19.1× · PEG 0.96

85% evidence

3.0/20Relative strength

RS sector -28.5% · RS bench -18.7% · 1Y -46.5%

70% evidence

4. Electrosteel Castings Ltd · ELECTCAST

35.5/100 · Mixed-negative evidence · 87% evidence

Exact sum: 4.5 + 9.5 + 11.7 + 9.8 = 35.5

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

4.5/35Growth & earnings

Revenue -19.1% · PAT -77.3% · OPM change -5 pp

88% evidence

9.5/25Capital efficiency

ROCE 5.2% · debt/equity 0.26×

100% evidence

11.7/20Valuation

P/E 23.5× · PEG 0.35

85% evidence

9.8/20Relative strength

RS sector 2.5% · RS bench -10.9% · 1Y -35.8%

70% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Jindal Saw Ltd has the highest Revenue among the 4 DI Pipes/Saw Pipes companies compared here, at ₹18,262 crore. Welspun Corp Ltd is next at ₹17,300 crore. Welspun Corp Ltd has the highest Revenue growth at 20.2%, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Jindal Saw Ltd is the scale leader at ₹18,262 crore, 5.6% ahead of Welspun Corp Ltd. Welspun Corp Ltd's growth is 20.2% from a ₹17,300 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderJindal Saw Ltd · ₹18,262 crore
Gap5.6% versus #2 · Welspun Corp Ltd
Persistence2/8 recent comparable periods
Coverage4/4 companies · 78 observations

Investor read: Jindal Saw Ltd is the scale benchmark; Welspun Corp Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Jindal Saw Ltd's growth falls below Welspun Corp Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Jindal Saw Ltd JINDALSAW₹18.3K Cr
2Welspun Corp Ltd WELCORP₹17.3K Cr
3Electrosteel Castings Ltd ELECTCAST₹5.9K Cr
4Jai Balaji Industries Ltd JAIBALAJI₹5.8K Cr
Revenue growthfastest growers
1Welspun Corp Ltd WELCORP20%
2Jindal Saw Ltd JINDALSAW-8.6%
3Jai Balaji Industries Ltd JAIBALAJI-13%
4Electrosteel Castings Ltd ELECTCAST-19%
Revenue · company comparison
4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Jindal Saw Ltd JINDALSAW₹4.5K Cr9.0%Jun 2026
Welspun Corp Ltd WELCORP₹4.1K Cr15%Jun 2026
Jai Balaji Industries Ltd JAIBALAJI₹1.7K Cr9.8%Mar 2026
Electrosteel Castings Ltd ELECTCAST₹1.5K Cr-12%Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

₹1.2K Cr
₹1.4K Cr
₹1.6K Cr
₹1.8K Cr
₹1.8K Cr
₹1.9K Cr
₹1.9K Cr
₹1.7K Cr
₹1.9K Cr
₹1.9K Cr
₹2.0K Cr
₹2.0K Cr
₹1.8K Cr
₹1.8K Cr
₹1.7K Cr
₹1.6K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
—

Jai Balaji Industries Ltd · JAIBALAJI

₹1.1K Cr
₹1.3K Cr
₹1.4K Cr
₹1.5K Cr
₹1.4K Cr
₹1.5K Cr
₹1.7K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.8K Cr
₹1.7K Cr
₹1.6K Cr
₹1.5K Cr
₹1.6K Cr
₹1.4K Cr
₹1.4K Cr
₹1.3K Cr
₹1.7K Cr
—

Jindal Saw Ltd · JINDALSAW

₹3.0K Cr
₹3.5K Cr
₹4.0K Cr
₹3.5K Cr
₹4.0K Cr
₹5.2K Cr
₹5.2K Cr
₹4.4K Cr
₹5.5K Cr
₹5.7K Cr
₹5.4K Cr
₹4.9K Cr
₹5.6K Cr
₹5.3K Cr
₹5.0K Cr
₹4.1K Cr
₹4.2K Cr
₹4.9K Cr
₹4.6K Cr
₹4.5K Cr

Welspun Corp Ltd · WELCORP

₹1.3K Cr
₹1.2K Cr
₹2.8K Cr
₹1.3K Cr
₹2.0K Cr
₹2.4K Cr
₹4.1K Cr
₹4.1K Cr
₹4.1K Cr
₹4.8K Cr
₹4.5K Cr
₹3.1K Cr
₹3.3K Cr
₹3.6K Cr
₹3.9K Cr
₹3.6K Cr
₹4.4K Cr
₹4.5K Cr
₹4.3K Cr
₹4.1K Cr

Revenue growth · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

—
—
—
61%
53%
29%
18%
-4.6%
7.6%
0.9%
7.1%
19%
-4.7%
-4.8%
-15%
-23%
-24%
-17%
-12%
—

Jai Balaji Industries Ltd · JAIBALAJI

—
—
—
53%
30%
20%
25%
-0.8%
13%
0.1%
7.1%
16%
0.7%
-3.4%
-14%
-21%
-13%
-11%
9.8%
—

Jindal Saw Ltd · JINDALSAW

—
—
—
—
36%
49%
31%
27%
35%
9.7%
4.6%
12%
1.9%
-6.8%
-7.0%
-17%
-24%
-6.2%
-8.2%
9.0%

Welspun Corp Ltd · WELCORP

—
—
—
6.4%
55%
94%
48%
208%
107%
98%
9.6%
-23%
-19%
-24%
-12%
13%
32%
25%
9.9%
15%
02 · compare level, then change

Operating Economics & Margin Trend

Welspun Corp Ltd has the highest OPM among the 4 DI Pipes/Saw Pipes companies compared here, at 17%. Jindal Saw Ltd is next at 9%. The same company also holds the highest Margin change, at +2 percentage points. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Welspun Corp Ltd leads both opm at 17% and margin change at +2 percentage points.

LeaderWelspun Corp Ltd · 17%
Gap88.9% versus #2 · Jindal Saw Ltd
Persistence7/8 recent comparable periods
Coverage4/4 companies · 78 observations

Investor read: Welspun Corp Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Welspun Corp Ltd WELCORP17%
2Jindal Saw Ltd JINDALSAW9.0%
3Electrosteel Castings Ltd ELECTCAST4.0%
4Jai Balaji Industries Ltd JAIBALAJI3.5%
Margin changefastest expanders
1Welspun Corp Ltd WELCORP+2.0 pp
2Jai Balaji Industries Ltd JAIBALAJI−4.5 pp
3Electrosteel Castings Ltd ELECTCAST−5.0 pp
4Jindal Saw Ltd JINDALSAW−7.0 pp
Operating margin · company comparison
4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyOPMMargin changeReported
Welspun Corp Ltd WELCORP17%+2.0 ppJun 2026
Jindal Saw Ltd JINDALSAW9.0%−7.0 ppJun 2026
Electrosteel Castings Ltd ELECTCAST4.0%−5.0 ppMar 2026
Jai Balaji Industries Ltd JAIBALAJI3.5%−4.5 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

11%
13%
14%
12%
8.7%
10%
10%
10%
16%
22%
16%
18%
15%
14%
9.0%
11%
7.0%
2.0%
4.0%
—

Jai Balaji Industries Ltd · JAIBALAJI

5.0%
4.0%
2.8%
4.0%
5.0%
5.0%
4.0%
14%
14%
16%
13%
18%
15%
13%
8.0%
9.0%
5.0%
1.7%
3.5%
—

Jindal Saw Ltd · JINDALSAW

13%
5.9%
10%
6.9%
8.2%
10%
12%
14%
15%
17%
17%
17%
16%
18%
15%
16%
11%
12%
10%
9.0%

Welspun Corp Ltd · WELCORP

7.5%
6.6%
3.5%
2.2%
-6.7%
7.0%
10%
9.0%
10%
10%
7.0%
12%
12%
12%
12%
15%
14%
14%
12%
17%

Margin change · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

−0.2 pp
−1.9 pp
+0.3 pp
−3.0 pp
−2.6 pp
−3.2 pp
−3.8 pp
−1.5 pp
+7.4 pp
+12.0 pp
+6.0 pp
+8.0 pp
−1.0 pp
−8.0 pp
−7.0 pp
−7.0 pp
−8.0 pp
−12.0 pp
−5.0 pp
—

Jai Balaji Industries Ltd · JAIBALAJI

+1.6 pp
−3.0 pp
−3.0 pp
−2.8 pp
−0.0 pp
+1.0 pp
+1.2 pp
+10.0 pp
+9.0 pp
+11.0 pp
+9.0 pp
+4.0 pp
+1.0 pp
−3.0 pp
−5.0 pp
−9.0 pp
−10.0 pp
−11.3 pp
−4.5 pp
—

Jindal Saw Ltd · JINDALSAW

+1.1 pp
−4.9 pp
−2.5 pp
−7.7 pp
−4.5 pp
+4.1 pp
+1.9 pp
+7.2 pp
+6.8 pp
+7.0 pp
+5.0 pp
+3.0 pp
+1.0 pp
+1.0 pp
−2.0 pp
−1.0 pp
−5.0 pp
−6.0 pp
−5.0 pp
−7.0 pp

Welspun Corp Ltd · WELCORP

−7.0 pp
−6.8 pp
−7.8 pp
−10.5 pp
−14.2 pp
+0.4 pp
+6.5 pp
+6.8 pp
+16.7 pp
+3.0 pp
−3.0 pp
+3.0 pp
+2.0 pp
+2.0 pp
+5.0 pp
+3.0 pp
+2.0 pp
+2.0 pp
0.0 pp
+2.0 pp
03 · compare level, then change

Profit Scale & Acceleration

Welspun Corp Ltd has the highest Net profit among the 4 DI Pipes/Saw Pipes companies compared here, at ₹2,319 crore. Jindal Saw Ltd is next at ₹602 crore. The same company also holds the highest Profit growth, at 15.8%. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Welspun Corp Ltd leads with ₹2,319 crore of TTM profit, 285.2% above Jindal Saw Ltd. Welspun Corp Ltd shows 15.8% growth from a ₹2,319 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderWelspun Corp Ltd · ₹2,319 crore
Gap285.2% versus #2 · Jindal Saw Ltd
Persistence5/8 recent comparable periods
Coverage4/4 companies · 78 observations

Investor read: Welspun Corp Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Welspun Corp Ltd WELCORP₹2.3K Cr
2Jindal Saw Ltd JINDALSAW₹602 Cr
3Jai Balaji Industries Ltd JAIBALAJI₹292 Cr
4Electrosteel Castings Ltd ELECTCAST₹161 Cr
Profit growthfastest growers
1Welspun Corp Ltd WELCORP16%
2Jindal Saw Ltd JINDALSAW-59%
3Jai Balaji Industries Ltd JAIBALAJI-66%
4Electrosteel Castings Ltd ELECTCAST-77%
Net profit · company comparison
4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyNet profitProfit growthReported
Welspun Corp Ltd WELCORP₹1.0K Cr200%Jun 2026
Jindal Saw Ltd JINDALSAW₹91 Cr-78%Jun 2026
Jai Balaji Industries Ltd JAIBALAJI₹21 Cr-72%Mar 2026
Electrosteel Castings Ltd ELECTCAST₹16 Cr-90%Mar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

₹45 Cr
₹97 Cr
₹113 Cr
₹95 Cr
₹53 Cr
₹79 Cr
₹89 Cr
₹75 Cr
₹175 Cr
₹263 Cr
₹227 Cr
₹226 Cr
₹155 Cr
₹160 Cr
₹168 Cr
₹89 Cr
₹78 Cr
₹-22 Cr
₹16 Cr
—

Jai Balaji Industries Ltd · JAIBALAJI

₹7 Cr
₹12 Cr
₹7 Cr
₹22 Cr
₹21 Cr
₹28 Cr
₹-13 Cr
₹170 Cr
₹202 Cr
₹235 Cr
₹273 Cr
₹209 Cr
₹153 Cr
₹120 Cr
₹75 Cr
₹71 Cr
₹26 Cr
₹12 Cr
₹21 Cr
—

Jindal Saw Ltd · JINDALSAW

₹108 Cr
₹1 Cr
₹122 Cr
₹-16 Cr
₹21 Cr
₹143 Cr
₹298 Cr
₹244 Cr
₹356 Cr
₹512 Cr
₹480 Cr
₹416 Cr
₹475 Cr
₹479 Cr
₹87 Cr
₹415 Cr
₹139 Cr
₹248 Cr
₹124 Cr
₹91 Cr

Welspun Corp Ltd · WELCORP

₹84 Cr
₹61 Cr
₹201 Cr
₹-1 Cr
₹-63 Cr
₹23 Cr
₹240 Cr
₹168 Cr
₹387 Cr
₹294 Cr
₹287 Cr
₹248 Cr
₹283 Cr
₹672 Cr
₹699 Cr
₹349 Cr
₹444 Cr
₹456 Cr
₹371 Cr
₹1.0K Cr

Profit growth · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

—
—
—
107%
18%
-19%
-21%
-21%
230%
233%
155%
201%
-11%
-39%
-26%
-61%
-50%
-114%
-90%
—

Jai Balaji Industries Ltd · JAIBALAJI

—
—
—
0.0%
200%
133%
-286%
673%
862%
739%
—
23%
-24%
-49%
-73%
-66%
-83%
-90%
-72%
—

Jindal Saw Ltd · JINDALSAW

—
—
—
—
-81%
14,200%
144%
—
1,595%
258%
61%
70%
33%
-6.5%
-82%
-0.2%
-71%
-48%
43%
-78%

Welspun Corp Ltd · WELCORP

—
—
—
-101%
-175%
-62%
19%
—
—
1,178%
20%
48%
-27%
129%
144%
41%
57%
-32%
-47%
200%
04 · not available

Capacity Spending & Returns On It

No company in this DI Pipes/Saw Pipes comparison reports capital expenditure on a comparable basis, so there is nothing to rank here — 0 of 4 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Jai Balaji Industries Ltd has the lowest Gross debt among the 4 DI Pipes/Saw Pipes companies compared here, at ₹417 crore. Electrosteel Castings Ltd is next at ₹1,561 crore. Welspun Corp Ltd has the lowest Net debt at ₹1,409 crore net cash, so level and change sit with different companies.

What the numbers say: Welspun Corp Ltd has the clearest covered balance-sheet capacity with ₹1,409 crore net cash and gross debt of ₹2,355 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderJai Balaji Industries Ltd · ₹417 crore
Gap73.3% versus #2 · Electrosteel Castings Ltd
Persistence0/8 recent comparable periods
Coverage4/4 companies · 77 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Jai Balaji Industries Ltd JAIBALAJI₹417 Cr
2Electrosteel Castings Ltd ELECTCAST₹1.6K Cr
3Welspun Corp Ltd WELCORP₹2.4K Cr
4Jindal Saw Ltd JINDALSAW₹4.7K Cr
Net debtlowest net debt
1Welspun Corp Ltd WELCORP₹-1.4K Cr
2Jai Balaji Industries Ltd JAIBALAJI₹357 Cr
3Electrosteel Castings Ltd ELECTCAST₹697 Cr
4Jindal Saw Ltd JINDALSAW₹4.1K Cr
Debt and balance-sheet capacity · company comparison
4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGross debtNet debtReported
Jindal Saw Ltd JINDALSAW₹4.7K Cr₹4.1K CrJun 2026
Welspun Corp Ltd WELCORP₹2.4K Cr₹-1.4K CrJun 2026
Electrosteel Castings Ltd ELECTCAST₹1.6K Cr₹697 CrMar 2026
Jai Balaji Industries Ltd JAIBALAJI₹417 Cr₹357 CrMar 2026
Full 20-quarter history · every available company

Gross debt · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

₹2.3K Cr
₹2.3K Cr
₹3.0K Cr
₹3.0K Cr
₹3.1K Cr
₹3.1K Cr
₹2.7K Cr
₹2.7K Cr
₹2.5K Cr
₹2.5K Cr
₹2.3K Cr
₹2.3K Cr
₹1.9K Cr
₹1.9K Cr
₹2.1K Cr
₹2.1K Cr
₹2.2K Cr
₹2.2K Cr
₹1.6K Cr
—

Jai Balaji Industries Ltd · JAIBALAJI

₹3.4K Cr
₹3.4K Cr
₹3.2K Cr
₹3.2K Cr
₹2.9K Cr
₹2.9K Cr
₹860 Cr
₹860 Cr
₹660 Cr
₹660 Cr
₹473 Cr
₹473 Cr
₹432 Cr
₹432 Cr
₹559 Cr
₹559 Cr
₹459 Cr
₹459 Cr
₹417 Cr
—

Jindal Saw Ltd · JINDALSAW

₹5.6K Cr
₹5.6K Cr
₹6.0K Cr
₹6.0K Cr
₹6.2K Cr
₹6.2K Cr
₹5.0K Cr
₹4.9K Cr
₹6.2K Cr
₹6.2K Cr
₹5.8K Cr
₹5.8K Cr
₹5.5K Cr
₹5.5K Cr
₹4.9K Cr
₹4.9K Cr
₹5.2K Cr
₹5.2K Cr
₹4.7K Cr
₹4.7K Cr

Welspun Corp Ltd · WELCORP

₹1.3K Cr
₹1.3K Cr
₹2.1K Cr
₹2.1K Cr
₹2.9K Cr
₹2.9K Cr
₹3.4K Cr
₹3.4K Cr
₹2.0K Cr
₹2.0K Cr
₹2.0K Cr
₹1.9K Cr
₹2.3K Cr
₹2.3K Cr
₹1.1K Cr
₹1.1K Cr
₹1.5K Cr
₹1.5K Cr
₹2.4K Cr
—

Net debt · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

₹1.8K Cr
₹1.8K Cr
₹2.3K Cr
₹2.1K Cr
₹2.6K Cr
₹2.6K Cr
₹2.2K Cr
₹2.2K Cr
₹1.8K Cr
₹1.8K Cr
₹1.8K Cr
₹1.8K Cr
₹1.6K Cr
₹1.6K Cr
₹1.9K Cr
₹1.9K Cr
₹1.5K Cr
₹1.5K Cr
₹697 Cr
—

Jai Balaji Industries Ltd · JAIBALAJI

₹3.4K Cr
₹3.4K Cr
₹3.1K Cr
₹3.1K Cr
₹2.8K Cr
₹2.8K Cr
₹825 Cr
₹809 Cr
₹615 Cr
₹615 Cr
₹419 Cr
₹382 Cr
₹346 Cr
₹346 Cr
₹461 Cr
₹433 Cr
₹405 Cr
₹405 Cr
₹357 Cr
—

Jindal Saw Ltd · JINDALSAW

₹5.0K Cr
₹5.0K Cr
₹5.4K Cr
₹5.3K Cr
₹5.8K Cr
₹5.8K Cr
₹4.8K Cr
₹4.7K Cr
₹5.9K Cr
₹5.9K Cr
₹4.9K Cr
₹4.9K Cr
₹4.8K Cr
₹4.8K Cr
₹4.1K Cr
₹4.1K Cr
₹5.0K Cr
₹5.0K Cr
₹4.1K Cr
₹4.1K Cr

Welspun Corp Ltd · WELCORP

₹-983 Cr
₹-983 Cr
₹-76 Cr
₹-76 Cr
₹1.6K Cr
₹1.6K Cr
₹1.3K Cr
₹1.2K Cr
₹364 Cr
₹364 Cr
₹476 Cr
₹428 Cr
₹706 Cr
₹706 Cr
₹-654 Cr
₹-654 Cr
₹168 Cr
₹168 Cr
₹-1.4K Cr
—
06 · compare level, then change

Return On Capital Employed

Jai Balaji Industries Ltd has the highest ROCE among the 4 DI Pipes/Saw Pipes companies compared here, at 36.1%. Welspun Corp Ltd is next at 22.9%. Welspun Corp Ltd has the highest ROCE change at +1.3 percentage points, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Jai Balaji Industries Ltd leads ROCE at 36.1%, 13.2 percentage points above Welspun Corp Ltd. Welspun Corp Ltd has the strongest latest improvement at +1.3 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderJai Balaji Industries Ltd · 36.1%
Gap57.6% versus #2 · Welspun Corp Ltd
Persistence4/8 recent comparable periods
Coverage4/4 companies · 61 observations

Investor read: Jai Balaji Industries Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Jai Balaji Industries Ltd JAIBALAJI36%
2Welspun Corp Ltd WELCORP23%
3Jindal Saw Ltd JINDALSAW10%
4Electrosteel Castings Ltd ELECTCAST5.2%
ROCE changefastest improvers
1Welspun Corp Ltd WELCORP+1.3 pp
2Electrosteel Castings Ltd ELECTCAST−10.3 pp
3Jindal Saw Ltd JINDALSAW−11.4 pp
4Jai Balaji Industries Ltd JAIBALAJI−24.0 pp
Return on capital · company comparison
4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROCEROCE changeReported
Welspun Corp Ltd WELCORP16%+1.3 ppJun 2026
Jindal Saw Ltd JINDALSAW9.6%−11.4 ppJun 2026
Jai Balaji Industries Ltd JAIBALAJI9.1%−24.0 ppMar 2026
Electrosteel Castings Ltd ELECTCAST2.6%−10.3 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

10%
—
11%
—
12%
—
10%
—
12%
18%
17%
23%
19%
19%
13%
13%
7.7%
7.1%
2.6%
—

Jai Balaji Industries Ltd · JAIBALAJI

-12%
—
-17%
—
17%
—
20%
28%
37%
56%
46%
75%
43%
59%
33%
31%
17%
—
9.1%
—

Jindal Saw Ltd · JINDALSAW

11%
—
9.2%
—
6.8%
—
11%
—
16%
24%
21%
27%
23%
26%
21%
21%
15%
14%
10%
9.6%

Welspun Corp Ltd · WELCORP

11%
—
3.8%
—
-2.9%
—
3.3%
—
15%
25%
15%
24%
15%
27%
15%
33%
18%
31%
16%
—

ROCE change · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

—
—
—
—
+1.6 pp
—
−0.5 pp
—
−0.2 pp
—
+7.0 pp
—
+7.3 pp
+0.7 pp
−4.3 pp
−10.2 pp
−11.2 pp
−11.9 pp
−10.3 pp
—

Jai Balaji Industries Ltd · JAIBALAJI

—
—
—
—
+29.4 pp
—
+37.4 pp
—
+19.3 pp
—
+25.4 pp
+46.8 pp
+6.8 pp
+2.6 pp
−12.4 pp
−43.9 pp
−26.1 pp
—
−24.0 pp
—

Jindal Saw Ltd · JINDALSAW

—
—
—
—
−3.8 pp
—
+2.0 pp
—
+9.4 pp
—
+9.4 pp
—
+6.8 pp
+1.7 pp
−0.1 pp
−6.4 pp
−8.1 pp
−11.5 pp
−10.5 pp
−11.4 pp

Welspun Corp Ltd · WELCORP

—
—
—
—
−13.5 pp
—
−0.5 pp
—
+17.7 pp
—
+12.1 pp
—
−0.2 pp
+2.0 pp
−0.4 pp
+9.1 pp
+3.0 pp
+4.1 pp
+1.3 pp
—
07 · compare level, then change

Valuation Against Growth & Quality

Electrosteel Castings Ltd has the lowest Guarded PEG among the 4 DI Pipes/Saw Pipes companies compared here, at 0.35×. Jindal Saw Ltd is next at 0.4×. Welspun Corp Ltd has the lowest P/E at 18.2×, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Electrosteel Castings Ltd has the lowest comparable Guarded PEG at 0.35×, 12.5% below Jindal Saw Ltd. Only 4 of 4 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderElectrosteel Castings Ltd · 0.35×
Gap12.5% versus #2 · Jindal Saw Ltd
Persistence0/8 recent comparable periods
Coverage4/4 companies · 13 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Electrosteel Castings Ltd ELECTCAST0.4
2Jindal Saw Ltd JINDALSAW0.4
3Jai Balaji Industries Ltd JAIBALAJI1.0
4Welspun Corp Ltd WELCORP4.7
P/Elowest P/E
1Welspun Corp Ltd WELCORP18.2
2Jai Balaji Industries Ltd JAIBALAJI19.1
3Electrosteel Castings Ltd ELECTCAST23.5
4Jindal Saw Ltd JINDALSAW25.0
Valuation · company comparison
4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGuarded PEGP/EReported
Welspun Corp Ltd WELCORP4.723.8Jun 2026
Jai Balaji Industries Ltd JAIBALAJI1.017.5Mar 2026
Jindal Saw Ltd JINDALSAW0.417.0Jun 2026
Electrosteel Castings Ltd ELECTCAST0.414.1Mar 2026
Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

—
0.3
—
—
0.1
—
—
—
—
—
—
—
—
—
0.4
—
—
—
—
—

Jai Balaji Industries Ltd · JAIBALAJI

—
—
—
—
0.2
—
—
—
—
—
—
—
—
—
1.0
—
—
—
—
—

Jindal Saw Ltd · JINDALSAW

0.1
—
—
—
—
—
—
0.2
—
—
—
—
0.4
—
—
—
—
—
—
—

Welspun Corp Ltd · WELCORP

0.3
—
—
—
—
—
—
—
—
—
—
—
—
—
0.4
0.4
0.5
—
—
4.7

P/E · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

7.0
6.0
6.3
4.7
5.0
5.8
5.6
11.3
14.3
15.8
17.6
14.1
14.7
9.7
7.9
11.6
10.2
9.5
14.1
—

Jai Balaji Industries Ltd · JAIBALAJI

17.3
10.1
8.3
9.4
9.7
10.3
7.4
16.3
32.0
31.0
25.0
15.9
19.8
17.5
15.9
21.8
20.7
20.0
17.5
—

Jindal Saw Ltd · JINDALSAW

7.6
6.1
6.4
6.0
10.0
15.6
11.2
12.4
12.3
10.9
9.0
10.3
12.9
9.7
8.9
8.9
7.7
7.7
10.6
17.0

Welspun Corp Ltd · WELCORP

4.9
7.9
9.2
12.6
19.8
26.9
25.3
33.0
28.0
17.7
12.5
12.9
16.3
19.2
15.3
16.1
18.6
17.5
17.7
23.8
08 · compare level, then change

Enterprise Value & Book Value

Jindal Saw Ltd has the lowest EV/EBITDA among the 4 DI Pipes/Saw Pipes companies compared here, at 8.9×. Jai Balaji Industries Ltd is next at 9.4×. Electrosteel Castings Ltd has the lowest P/BV at 0.75×, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Jindal Saw Ltd leads ev/ebitda at 8.9×; Electrosteel Castings Ltd leads p/bv at 0.75×.

LeaderJindal Saw Ltd · 8.9×
Gap5.3% versus #2 · Jai Balaji Industries Ltd
Persistence0/8 recent comparable periods
Coverage4/4 companies · 78 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Jindal Saw Ltd JINDALSAW8.9
2Jai Balaji Industries Ltd JAIBALAJI9.4
3Electrosteel Castings Ltd ELECTCAST9.8
4Welspun Corp Ltd WELCORP13.9
P/BVlowest P/BV
1Electrosteel Castings Ltd ELECTCAST0.8
2Jindal Saw Ltd JINDALSAW1.3
3Jai Balaji Industries Ltd JAIBALAJI2.5
4Welspun Corp Ltd WELCORP4.6
Enterprise and book valuation · company comparison
4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyEV/EBITDAP/BVReported
Welspun Corp Ltd WELCORP13.94.2Jun 2026
Electrosteel Castings Ltd ELECTCAST9.80.8Mar 2026
Jai Balaji Industries Ltd JAIBALAJI9.42.3Mar 2026
Jindal Saw Ltd JINDALSAW8.91.3Jun 2026
Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

4.9
4.7
5.9
4.7
6.1
6.1
5.3
7.3
8.2
9.2
11.2
10.1
10.4
7.1
5.9
8.8
8.0
7.2
9.8
—

Jai Balaji Industries Ltd · JAIBALAJI

18.7
16.3
15.9
16.2
14.2
14.4
14.3
14.8
17.8
21.0
19.6
14.5
16.6
13.5
11.0
13.6
12.1
10.7
9.4
—

Jindal Saw Ltd · JINDALSAW

4.9
4.7
4.9
4.6
6.2
7.0
6.2
7.0
7.1
7.1
6.2
6.4
7.7
6.2
5.8
5.5
5.1
5.3
6.5
8.9

Welspun Corp Ltd · WELCORP

3.5
5.1
5.5
6.6
10.1
10.5
7.3
8.9
10.6
8.9
7.1
8.0
9.6
11.3
10.1
10.4
10.7
10.4
10.6
13.9

P/BV · reported quarter history

Electrosteel Castings Ltd · ELECTCAST

0.4
0.5
0.6
0.4
0.5
0.5
0.5
0.9
1.0
1.4
2.3
2.4
2.6
1.6
1.1
1.6
1.0
0.8
0.8
—

Jai Balaji Industries Ltd · JAIBALAJI

-0.3
-0.4
-0.3
-0.3
-0.3
-0.5
-0.3
-0.5
11.4
12.4
15.1
22.1
12.0
8.5
6.5
7.2
4.1
2.6
2.3
—

Jindal Saw Ltd · JINDALSAW

0.5
0.4
0.4
0.4
0.4
0.5
0.6
1.0
1.4
1.5
1.5
1.7
2.4
1.8
1.6
1.4
1.2
0.9
1.0
1.3

Welspun Corp Ltd · WELCORP

0.8
1.2
1.0
1.4
1.6
1.4
1.2
1.5
2.2
2.8
2.7
3.0
3.5
3.5
3.8
4.4
3.0
2.6
2.6
4.2
09 · let price answer last

Market action

Welspun Corp Ltd has the strongest one-year price move in DI Pipes/Saw Pipes at +71.3%. It also leads on Mansfield relative strength against NIFTY at +59.3%. 2 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This DI Pipes/Saw Pipes comparison names 5 specific ways its own evidence can mislead, all listed below. All 4 companies here report on comparable dates, so no rank carries a stale marker. 1 of the 8 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • Thin comparisons: Capital expenditure have fewer than three usable current readings.
10 · the complete set

Which companies are included?

All 4 companies in the canonical DI Pipes/Saw Pipes membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

CompanyMarket valuePricePriced toLatest fundamentalsSource standing
Welspun Corp Ltd WELCORPAHEAD22/26 WEEKS₹42.1K Cr₹1,5972026-07-19Jun 2026Cross-checked
Jindal Saw Ltd JINDALSAWAHEAD25/26 WEEKS₹16.3K Cr₹2552026-07-19Jun 2026Cross-checked
Jai Balaji Industries Ltd JAIBALAJI₹5.6K Cr₹61.22026-07-19Mar 2026Cross-checked
Electrosteel Castings Ltd ELECTCAST₹4.5K Cr₹72.12026-07-19Mar 2026Cross-checked
How each company's sources stand: Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld.
Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 4 DI Pipes/Saw Pipes companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing4 cross-checked · 0 unverified · 0 withheld, of 4 graded companies.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Questions investors ask · short, speakable answers

DI Pipes/Saw Pipes company comparison FAQs

These 17 answers restate the DI Pipes/Saw Pipes comparison above in question form. Every one is computed from the same 4 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.

What is the Nifty DI Pipes/Saw Pipes index?

The Nifty DI Pipes/Saw Pipes index tracks India's listed DI Pipes/Saw Pipes companies as a single basket. This page follows the same 4 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the DI Pipes/Saw Pipes sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best DI Pipes/Saw Pipes stocks in India?

Ranked by this page's four-factor score, Welspun Corp Ltd places first among 4 listed DI Pipes/Saw Pipes companies, followed by Jindal Saw Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many DI Pipes/Saw Pipes stocks are listed in India?

This comparison covers 4 listed DI Pipes/Saw Pipes companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which DI Pipes/Saw Pipes company is the biggest?

Jindal Saw Ltd is the largest, with trailing-twelve-month revenue of ₹18,262 crore, ahead of Welspun Corp Ltd at ₹17,300 crore. That covers 4 of 4 companies with comparable reporting through Jun 2026.

Which DI Pipes/Saw Pipes company is growing fastest?

Welspun Corp Ltd has the fastest revenue growth at 20.2% year on year, across 4 of 4 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which DI Pipes/Saw Pipes company has the best profit margins?

Welspun Corp Ltd has the highest operating margin at 17%, from 4 of 4 comparable companies. Welspun Corp Ltd shows the biggest recent improvement, at +2 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which DI Pipes/Saw Pipes company makes the most profit?

Welspun Corp Ltd earns the most, at ₹2,319 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. Welspun Corp Ltd has the fastest profit growth at 15.8%, though growth off a small or recovering profit base overstates how much has actually changed.

Which DI Pipes/Saw Pipes company earns the highest return on capital?

Jai Balaji Industries Ltd leads on return on capital employed at 36.1%, across 4 of 4 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which DI Pipes/Saw Pipes stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Electrosteel Castings Ltd screens cheapest at 0.35×. Only 4 of 4 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which DI Pipes/Saw Pipes company has the strongest balance sheet?

Jai Balaji Industries Ltd carries the lowest comparable gross debt at ₹417 crore, from 4 of 4 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which DI Pipes/Saw Pipes stock has the strongest price momentum?

Welspun Corp Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which DI Pipes/Saw Pipes company scores highest for research priority?

Welspun Corp Ltd scores 69.3 out of 100 with 87% evidence confidence, from 24.9 points on growth and earnings, 19.4 on capital efficiency, 5 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many DI Pipes/Saw Pipes companies does this comparison cover, and over what period?

It compares 4 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the DI Pipes/Saw Pipes sector?

The 4 DI Pipes/Saw Pipes companies on this page carry ₹68,499 crore of combined market value. Welspun Corp Ltd is the largest at ₹42,125 crore, about 61% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

How is the DI Pipes/Saw Pipes sector performing?

2 of the 4 covered DI Pipes/Saw Pipes companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Chat with this pageChat with pageChatChatGPTClaudePerplexityGoogle AI