BSE: 504080
JSL INDUSTRIES LTD.
Manufactures electric motors and generators out of its facility in Mogar, Anand, Gujarat. Revenue from operations in FY26 was Rs 56.43 crore, with EBITDA margin of 10.9% and net profit of Rs 3.29 crore. Materials are the largest input cost at 63.7% of revenue, followed by employee costs at 17.0% and other operating expenses at 15.4%. The company also holds a quoted equity investment in promoter group firm Jyoti Limited, which it reclassified to FVTOCI-NR effective April 1, 2025. Material related party transactions with Jyoti Limited are sought up to Rs 10 crore (excluding tax) for FY27. The shares trade on BSE under Scrip Code 504080, and the company held its 60th AGM in July 2026, indicating six decades of operation. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Electric motors and generators. Small-cap, materials-intensive manufacturer of electrical equipment with a long operating history.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 55 | 49 | 51 | 54 | 56 |
| EBITDA (ex other income) | 4 | 5 | 4 | 4 | 4 |
| margin % | 7.8 | 10.4 | 8.7 | 7.3 | 7.4 |
| Owners' profit | 3 | 3 | 6 | 6 | 3 |
| EPS, as reported (₹) | 23.50 | 29.31 | 52.49 | 54.94 | 28.04 |
| ROE % · ROCE % | 9.2 · 12.4 | 10.3 · 16.1 | 15.6 · 19.3 | 14.0 · 15.6 | 7.0 · 9.4 |
| Debt / equity (x) | 0.09 | 0.13 | 0.08 | 0.05 | 0.04 |
| Cash from operations | (5) | (1) | (2) | (0) | 9 |
| Capex | (2) | (1) | (1) | (1) | (2) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14 | 12 | 14 | 14 | 12 | 13 | 14 | 17 |
| Profit before tax | 5 | 2 | 1 | (0) | 0 | 1 | 1 | 2 |
| Net profit | 4 | 2 | 1 | (0) | 0 | 1 | 1 | 1 |
| EPS (₹) | 34.50 | 13.61 | 8.42 | (1.59) | 3.39 | 8.18 | 6.29 | 10.18 |
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. % |
|---|---|---|---|---|---|---|---|---|
| WAAREE ENERGIES LIMITED | 64,618 | 16.9 | 4.30 | 10.5 | 25.9 | 29.0 | — | 20.3 |
| APAR INDUSTRIES LTD. | 61,818 | 52.3 | 11.46 | 32.5 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED | 38,368 | 22.7 | 8.90 | 15.7 | 35.0 | 25.7 | — | 30.8 |
| MTAR TECHNOLOGIES LIMITED | 21,476 | 160.9 | 26.11 | 114.7 | 11.4 | 12.4 | 28.9 | 25.8 |
| DIAMOND POWER INFRA LTD | 17,071 | 86.8 | — | 84.5 | (26.2) | 8.6 | — | 12.3 |
| EMMVEE PHOTOVOLTAIC PWR L | 16,879 | 12.7 | 4.57 | 9.4 | 29.3 | 31.2 | — | 36.3 |
| AVALON TECHNOLOGIES LTD | 13,663 | 102.2 | 18.93 | 68.1 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD | 8,270 | 11.5 | 3.73 | 10.5 | 26.7 | 22.7 | 50.8 | 22.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 28.9 | 22.4 | 32 of 52 | 39% |
| P/B | 2.0 | 3.3 | 16 of 49 | 69% |
| ROCE | 8.6 | 12.4 | 35 of 55 | 37% |
| ROE | 7.0 | 12.4 | 36 of 50 | 29% |
| Debt / Equity | 0.0 | 0.3 | 7 of 50 | 88% |
| EBITDA margin | 10.5 | 12.6 | 32 of 51 | 38% |
| Revenue growth | 28.0 | 20.7 | 21 of 46 | 56% |
| Profit growth | 736.8 | 37.7 | 4 of 45 | 93% |
| Market cap | 95 | 591 | 41 of 56 | 27% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Compliance Certificate under Reg 74(5) for Q2 FY26 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed ahead of September quarter results | compliance | minimal | — | — |
| 18 Sept 2026 · Public notice on special window for physical share transfer and demat | compliance | minimal | — | — |
| 25 Aug 2026 · Revision in relieving date of Company Secretary | management changes | low | — | — |
| 14 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 13 Aug 2026 · JSL Industries Q1 FY27 PAT rises to 42.81 lakh, revenue up about 19% YoY | results | high | — | — |
| 13 Aug 2026 · JSL Industries Q1 FY27 results: revenue up 19%, PAT at Rs. 42.81 lakh | results | high | — | — |
| 6 Aug 2026 · JSL Industries board meeting on Aug 13 to consider Q1 FY27 results | results | low | — | — |
| 17 Jul 2026 · Newspaper notice on special window for physical share transfer and demat | compliance | minimal | — | — |
| 8 Jul 2026 · JSL Industries 60th AGM: all 5 resolutions passed, including RPT with Jyoti Ltd | 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.