NSE: JAMNAAUTO · BSE: 520051
JAMNA AUTO IND LTD
Manufactures automotive suspension components — primarily leaf springs and parabolic springs, plus slipper suspensions and drop axles — sold mainly to commercial vehicle makers in India. Customers include Tata Motors, Ashok Leyland and Mahindra, and the company recently started exporting to Stellantis. New manufacturing capacity was commissioned at Adityapur and Indore in FY26, taking the plant count to 10 across India, sited near OEM hubs. The aftermarket channel — leaf springs and allied products sold through distributors, retailers and mechanics for vehicle replacement — contributed 8% of revenue in FY26, up from 6%. To grow internationally, the company has approved a 2 million pound acquisition of Owen Springs Limited, a UK maker of leaf and parabolic springs with 350-plus SKUs, about 250 UK distributors and roughly 8% share of the British aftermarket spring market. Raw materials are the largest cost, at 60.6% of revenue in FY26, with employees at 7.5% and other operating expenses at 15.2%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. OEM supplies to commercial vehicle makers, Aftermarket and allied products (8%), Exports. Auto components supplier to commercial vehicle OEMs, with a growing aftermarket and export business.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,718 | 2,325 | 2,427 | 2,270 | 2,612 |
| EBITDA (ex other income) | 226 | 261 | 327 | 302 | 384 |
| margin % | 13.2 | 11.2 | 13.5 | 13.3 | 14.7 |
| Owners' profit | 141 | 169 | 205 | 180 | 231 |
| EPS, as reported (₹) | 3.53 | 4.23 | 5.15 | 4.52 | 5.79 |
| ROE % · ROCE % | 20.6 · 26.6 | 21.5 · 28.1 | 22.7 · 30.6 | 18.2 · 25.1 | 20.1 · 28.0 |
| Debt / equity (x) | 0.26 | 0.02 | 0.18 | 0.13 | 0.00 |
| Cash from operations | 55 | 344 | 90 | 289 | 510 |
| Capex | (37) | 0 | (163) | (196) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 513 | 562 | 638 | 573 | 531 | 668 | 840 | 611 |
| Profit before tax | 56 | 63 | 72 | 64 | 56 | 83 | 116 | 66 |
| Net profit | 40 | 44 | 50 | 46 | 40 | 58 | 87 | 49 |
| EPS (₹) | 1.00 | 1.10 | 1.27 | 1.15 | 1.00 | 1.46 | 2.19 | 1.21 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 21.6 | 25.3 | 49 of 119 | 59% |
| P/B | 4.4 | 3.2 | 75 of 117 | 36% |
| ROCE | 26.9 | 12.6 | 12 of 125 | 91% |
| ROE | 20.1 | 11.7 | 18 of 117 | 85% |
| Debt / Equity | 0.0 | 0.3 | 1 of 117 | 85% |
| EBITDA margin | 14.4 | 12.2 | 42 of 118 | 65% |
| Revenue growth | 6.7 | 20.2 | 92 of 113 | 19% |
| Profit growth | 6.1 | 24.4 | 78 of 115 | 33% |
| Market cap | 5058 | 1460 | 37 of 126 | 71% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Quarterly dematerialisation certificate filed with exchanges | compliance | minimal | — | — |
| 9 Oct 2026 · Jamna Auto gets Crisil ESG rating of 61 rated Strong | credit debt | medium | — | — |
| 5 Oct 2026 · Update on GST input tax credit dispute of Rs 1.86 Cr in Haryana | regulatory legal | medium | — | — |
| 5 Oct 2026 · Promoter P.S. Jauhar releases pledge on 30.30 lakh shares | ownership changes | high | — | — |
| 30 Sept 2026 · 60th AGM Results: All 6 resolutions passed, total dividend of Rs 2.50 per share declared | board shareholder meetings | low | — | — |
| 29 Sept 2026 · 60th AGM held; Rs 2.50 total dividend for FY26, results in 2 days | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading Window Closed Ahead of Q2 FY26 Results | compliance | minimal | — | — |
| 25 Sept 2026 · Reminder to physical shareholders to update PAN, KYC and nomination details | compliance | minimal | — | — |
| 21 Sept 2026 · Notice for IEPF transfer of unclaimed FY20 interim dividend and shares | compliance | minimal | — | — |
| 18 Sept 2026 · GST appeal partial relief, demand cut to Rs 3.53 cr from Rs 4.06 cr | regulatory legal | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.