NSE: JAYKAY · BSE: 500306
JAYKAY ENTERPRISES LTD
Operates across defence and aerospace, digital services, digital manufacturing, and medical implants. The Defence & Aerospace Division takes orders from strategic organisations including BrahMos, HAL, BEL, BDL, NSTL and ADA, and added precision manufacturing capability via the April 2026 acquisition of Patange Industries. The Digital Service arm runs the JIVA AI platform, deployed in US and European markets. A medical implants business received CDSCO certification and began commercial production of patient-specific implants. On a standalone basis for FY26, Defence & Aerospace contributed 18.0% of segment revenue, Digital Manufacturing and Advance Systems 0.3%, with Unallocated/Residual at 81.7%. Manufacturing facilities include an expanded Cherlapally plant in Hyderabad and a Devanahalli facility under progress. Employee cost is the largest expense at 59.9% of revenue (Rs 143.57 crore); materials are 6.5% (Rs 15.61 crore). AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Defence & Aerospace Division (18%), Digital Manufacturing and Advance Systems (0%), Unallocated/ Residual Segment (82%). Diversified industrial/technology company spanning defence, digital services, and medical implants
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 11 | 47 | 53 | 81 | 240 |
| EBITDA (ex other income) | (2) | 2 | 4 | (0) | 201 |
| margin % | (18.6) | 4.8 | 7.4 | (0.6) | 84.0 |
| Owners' profit | 1 | 7 | 9 | 7 | 247 |
| EPS, as reported (₹) | 3.70 | 1.43 | 1.51 | 0.79 | 16.88 |
| ROE % · ROCE % | 14.6 · 1.6 | 5.5 · 7.9 | 4.9 · 6.3 | 1.5 · 2.6 | 30.9 · 30.0 |
| Debt / equity (x) | 0.05 | 0.17 | 0.30 | 0.06 | 0.01 |
| Cash from operations | (11) | (25) | (33) | (0) | 40 |
| Capex | (12) | (11) | (19) | (49) | (34) |
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 | 31 | 22 | 11 | 55 | 63 | 60 | 61 | 75 |
| Profit before tax | 1 | 3 | (2) | 24 | 11 | 9 | 179 | 6 |
| Net profit | 1 | 5 | (4) | 20 | 9 | 7 | 180 | 5 |
| EPS (₹) | 0.08 | 0.83 | 0.49 | 1.65 | 0.72 | 0.53 | 14.08 | 0.35 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Defence & Aerospace Division | 22 | 7.8 |
| Digital Manufacturing and Advance Systems | 43 | 15.1 |
| Digital Service | 159 | 56.4 |
| Other Unallocated Revenue | 21 | 7.4 |
| Defence & Aerospace Division | 16 | 5.6 |
| Unallocated/ Residual Segment | 22 | 7.8 |
| Total, before eliminations | 283 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HINDUSTAN AERONAUTICS LTD | 3,24,358 | 34.8 | 7.90 | 23.8 | 22.2 | 13.7 | 7.8 | 44.0 |
| BHARAT ELECTRONICS LTD | 2,66,259 | 43.4 | 11.09 | 30.7 | 25.3 | 31.9 | 14.4 | 28.1 |
| BHARAT DYNAMICS LIMITED | 36,381 | 69.8 | 8.58 | — | 9.9 | 7.2 | — | 32.6 |
| DATA PATTERNS INDIA LTD | 22,316 | 83.3 | 12.86 | — | 15.6 | 20.3 | — | 33.3 |
| GARDEN REACH SHIP&ENG LTD | 21,752 | 27.2 | 8.28 | — | 28.5 | 36.2 | — | 13.7 |
| APOLLO MICRO SYSTEMS LTD | 15,340 | 119.3 | 11.73 | 70.3 | 8.2 | 10.4 | 34.8 | 22.3 |
| ASTRA MICROWAVE LTD | 14,940 | 79.0 | 11.36 | 42.7 | 14.7 | 17.2 | 12.7 | 20.1 |
| AEQUS LIMITED | 14,225 | — | 9.58 | 90.4 | (7.6) | (3.8) | — | 5.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.8 | 69.8 | 1 of 23 | 100% |
| P/B | 3.8 | 9.6 | 2 of 23 | 96% |
| ROCE | 29.1 | 13.6 | 4 of 26 | 88% |
| ROE | 30.9 | 10.9 | 1 of 23 | 100% |
| Debt / Equity | 0.0 | 0.0 | 11 of 23 | 55% |
| EBITDA margin | 17.2 | 22.3 | 15 of 23 | 36% |
| Revenue growth | 34.5 | 24.9 | 10 of 23 | 59% |
| Profit growth | (77.7) | 14.9 | 18 of 21 | 15% |
| Market cap | 2624 | 6504 | 18 of 26 | 32% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Subsidiary gets CDSCO licence to manufacture orthopaedic and spinal implants | business updates | medium | — | — |
| 21 Oct 2026 · Jaykay Enterprises grants 13,000 stock options to employees | capital market events | medium | — | — |
| 8 Oct 2026 · Jaykay Enterprises to lend up to Rs 100 Cr to wholly owned subsidiary JK Defence | credit debt | medium | — | — |
| 5 Oct 2026 · Routine compliance certificate for share dematerialization, Sept 2026 quarter | compliance | minimal | — | — |
| 5 Oct 2026 · JKE invests additional Rs 25 crore in defence subsidiary via rights issue proceeds | strategic transactions | medium | — | — |
| 5 Oct 2026 · JKE invests additional Rs 2 crore in wholly owned subsidiary JK Digital | strategic transactions | medium | — | — |
| 1 Oct 2026 · AGM voting results: All 13 resolutions passed with over 99% majority | compliance | low | — | — |
| 29 Sept 2026 · 80th AGM Proceedings: Auditors Flag Modified Opinion on FY26 Accounts | board shareholder meetings | medium | — | — |
| 29 Sept 2026 · 80th AGM held; resolutions on financials, director re-appointments and related party deals | board shareholder meetings | medium | — | — |
| 25 Sept 2026 · Trading Window closed from Oct 1, 2026 ahead of Q2 results | compliance | minimal | — | — |
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.