Manufactures non-ferrous metal products, including copper and brass alloy strips, foils, and stainless steel products, from its facility in Baddi, Himachal Pradesh. Output is supplied into defence, electrical, and industrial applications. Revenue in FY26 was ₹19.29 crore, against a net profit of ₹0.27 crore and EBITDA margin of 30.83%. Earnings come from two activities: direct sales of its own manufactured products and job work for third parties. In Q1 FY27, total processing volume was 300 MT, of which 209 MT was sold and 91 MT was processed as job work, a roughly 38% rise from the 217 MT handled in Q4 FY26. The cost structure is dominated by raw materials, reported at 170.5% of FY26 revenue, which points to a thin spread on metal inputs. Depreciation accounts for 24.9% of revenue and capex for 40.8%, indicating an asset-heavy setup with significant reinvestment. Total assets stood at ₹330.47 crore at FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sale of manufactured products, Job work. Small-cap, asset-heavy non-ferrous metal manufacturer supplying defence and industrial applications.
| ₹ crore · consolidated | FY21 | FY22 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 71 | 60 | 2 | 1 | 19 |
| EBITDA (ex other income) | (147) | (61) | (2) | (1) | 4 |
| margin % | (207.3) | (101.6) | (98.5) | (117.9) | 21.8 |
| Owners' profit | (157) | (72) | 0 | 0 | 0 |
| EPS, as reported (₹) | (100.12) | 45.71 | 5.88 | 4.11 | 0.19 |
| ROE % · ROCE % | 312.9 · 493.1 | 59.0 · 69.1 | 6.2 · 7.7 | 4.2 · 4.8 | 0.1 · 0.4 |
| Debt / equity (x) | (4.65) | (1.92) | (1.59) | (1.53) | 0.30 |
| Cash from operations | 1 | (72) | 5 | (8) | (15) |
| Capex | (4) | — | 0 | 0 | (8) |
| ₹ crore | Q3 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 1 | 0 | 0 | 0 | 4 | 0 | 15 |
| Profit before tax | (3) | (5) | (1) | (2) | (3) | 2 | (0) | 1 |
| Net profit | (2) | (5) | (1) | (2) | (3) | 2 | (0) | 2 |
| EPS (₹) | 1.51 | 2.91 | 0.88 | 1.31 | 1.89 | 1.00 | 0.02 | 1.21 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Approval received for shifting registered office from Delhi to Himachal Pradesh | regulatory legal | medium | — | — |
| 2 Sept 2026 · Notice of 35th AGM and e-voting info published in newspapers | compliance | minimal | — | — |
| 1 Sept 2026 · JTL Defence 35th AGM on Sept 23: director, MoA change, RPT approvals | board shareholder meetings | low | — | — |
| 1 Sept 2026 · JTL Defence FY25-26 Annual Report and 35th AGM Notice | general | medium | — | — |
| 29 Aug 2026 · JTL Defence board re-appoints MD, adds new Whole-time Director | management changes | high | — | — |
| 29 Aug 2026 · Board re-appoints MD, appoints new Whole-time Director | management changes | high | — | — |
| 29 Aug 2026 · Board re-appoints MD, appoints new WTD; fixes AGM date and expansion plan | management changes | medium | — | — |
| 22 Aug 2026 · JTL Defence MD to hold one-to-one investor meet in Mumbai on Aug 26-27 | board shareholder meetings | low | — | — |
| 2 Jul 2026 · JTL Defence plans to shift registered office from Delhi to Himachal Pradesh | compliance | minimal | — | — |
| 2 Jul 2026 · JTL Defence Q1FY27 volumes up 38 percent QoQ to 300 MT | business updates | medium | — | — |
| 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 |
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