NSE: JAYBARMARU · BSE: 520066
JAY BHARAT MARUTI LTD
Manufactures auto components for the automobile industry, classified under Auto Components & Equipments within the Consumer Discretionary sector. Maruti Suzuki India holds a 29.28% stake as a major promoter, indicating it is a key customer. FY26 revenue stood at ₹2,550.99 crore, up 11.39% year-on-year. The cost structure is dominated by materials at ₹1,897.35 crore (74.4% of revenue), consistent with a components manufacturing operation. Employee costs were 8.5% of revenue and other operating expenses 6.4%. Capital expenditure of ₹149.34 crore (5.9% of revenue) suggests ongoing investment in manufacturing capacity. The business generated an EBITDA margin of 11.19% and net profit margin of 5.48%, with ROCE of 15.22% and ROE of 20.06% in FY26. Net profit for FY26 was ₹139.67 crore. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Auto Components. Auto components manufacturing, asset-heavy, supplier to passenger vehicle OEMs
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,080 | 2,344 | 2,292 | 2,290 | 2,551 |
| EBITDA (ex other income) | 150 | 173 | 167 | 165 | 283 |
| margin % | 7.2 | 7.4 | 7.3 | 7.2 | 11.1 |
| Owners' profit | 28 | 38 | 32 | 33 | 140 |
| EPS, as reported (₹) | 6.50 | 8.75 | 2.98 | 3.04 | 12.90 |
| ROE % · ROCE % | 5.9 · 9.5 | 7.5 · 12.4 | 6.0 · 9.8 | 5.8 · 7.8 | 20.1 · 15.2 |
| Debt / equity (x) | 0.79 | 0.65 | 0.61 | 0.79 | 0.63 |
| Cash from operations | 106 | 154 | 188 | 199 | 197 |
| Capex | (78) | (67) | (145) | (265) | (149) |
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 | 555 | 591 | 611 | 557 | 583 | 645 | 766 | 627 |
| Profit before tax | 5 | 6 | 29 | 36 | 28 | 28 | 55 | 28 |
| Net profit | 3 | 4 | 21 | 23 | 18 | 18 | 80 | 22 |
| EPS (₹) | 0.28 | 0.36 | 1.90 | 2.15 | 1.70 | 1.70 | 7.35 | 2.02 |
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) | 8.9 | 25.3 | 9 of 119 | 93% |
| P/B | 1.8 | 3.2 | 30 of 117 | 75% |
| ROCE | 11.7 | 12.6 | 68 of 125 | 46% |
| ROE | 20.1 | 11.7 | 19 of 117 | 85% |
| Debt / Equity | 0.6 | 0.3 | 89 of 117 | 24% |
| EBITDA margin | 10.1 | 12.2 | 81 of 118 | 32% |
| Revenue growth | 12.6 | 20.2 | 82 of 113 | 28% |
| Profit growth | (6.2) | 24.4 | 89 of 115 | 23% |
| Market cap | 1234 | 1460 | 67 of 126 | 47% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Second-quarter and half-year results review set for November 2; insider ban continues | compliance | minimal | — | — |
| 27 Oct 2026 · Board meeting set for November 2; trading window stays closed | compliance | minimal | — | — |
| 27 Oct 2026 · Board meeting set for Q2 and H1 FY2026-27 results | results | low | — | — |
| 21 Oct 2026 · Jay Bharat Maruti Clarifies No Undisclosed Info Behind Volume Spike | compliance | low | — | — |
| 21 Oct 2026 · Jay Bharat Maruti clarifies on unusual trading volume, no undisclosed info | compliance | minimal | — | — |
| 19 Oct 2026 · NSE seeks clarification from Jay Bharat Maruti on unusual volume | general | medium | — | — |
| 7 Oct 2026 · No requests for physical share transfer in September 2026 | compliance | minimal | — | — |
| 6 Oct 2026 · Routine SEBI compliance certificate for Q2 FY26-27 demat requests | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closed from October 1, 2026 for Q2 results | compliance | minimal | — | — |
| 20 Sept 2026 · Company Secretary Ms. Shubha Singh resigns | management changes | medium | — | — |
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.