513252
Jay Ushin financials
- Market cap
- ₹321 Cr
What Jay Ushin does
Jay Ushin Limited is an auto-component manufacturer and a joint venture with U-Shin Ltd, Japan, from which it receives technical, sales-support and consultancy services under a License and Technical Assistance Agreement. The company sources critical components from group company JNS Instruments Limited, itself a supplier to various OEM customers, to ensure timely, price-fixed supply of components for its own operations. The company has no subsidiaries, associates or joint ventures of its own beneath it.
Quarterly results
Q1 FY27: revenue up 29.3%, net profit up 6.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 212 | 219 | 229 | 214 | 242 +14% | 245 +12% | 268 +17% | 277 +29% |
| EBITDA | 10 | 9 | 10 | 9 | 9 −4% | 7 −17% | 10 −2% | 8 −8% |
| Net profit | 3 | 3 | 3 | 5 | 3 +3% | 4 +29% | 5 +84% | 5 +6% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +20.5% 1Y
1Y: ₹690 on 10 Sept 2025 → ₹831.45. High ₹1,546 (6 Nov 2025), low ₹681.5 (30 Mar 2026).
Financials, as filed
Revenue grew 9.7% a year over 3 years, FY23 to FY26. Operating margin narrowed to 3.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹734 Cr | ₹726 Cr | ₹855 Cr | ₹969 Cr |
| Operating profit | ₹32 Cr | ₹26 Cr | ₹37 Cr | ₹35 Cr |
| Operating margin | 4.4% | 3.5% | 4.3% | 3.7% |
| Interest | ₹14 Cr | ₹14 Cr | ₹17 Cr | ₹14 Cr |
| Depreciation | ₹15 Cr | ₹11 Cr | ₹17 Cr | ₹16 Cr |
| Net profit | ₹13 Cr | ₹14 Cr | ₹12 Cr | ₹18 Cr |
| Net margin | 1.8% | 2.0% | 1.4% | 1.8% |
| Cash from operations | ₹22 Cr | ₹-16 Cr | ₹20 Cr | ₹11 Cr |
| Free cash flow | ₹10 Cr | ₹-13 Cr | ₹12 Cr | ₹2 Cr |
| ROCE | 15.0% | 13.0% | 13.0% | 12.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr |
| Reserves | ₹69 Cr | ₹82 Cr | ₹93 Cr | ₹105 Cr | ₹124 Cr | ₹132 Cr |
| Borrowings | ₹135 Cr | ₹123 Cr | ₹112 Cr | ₹148 Cr | ₹111 Cr | ₹141 Cr |
| Other liabilities | ₹143 Cr | ₹134 Cr | ₹151 Cr | ₹106 Cr | ₹183 Cr | ₹151 Cr |
| Total liabilities | ₹350 Cr | ₹343 Cr | ₹359 Cr | ₹364 Cr | ₹422 Cr | ₹429 Cr |
| Fixed assets | ₹171 Cr | ₹173 Cr | ₹175 Cr | ₹180 Cr | ₹134 Cr | ₹162 Cr |
| Capital work in progress | ₹8 Cr | ₹3 Cr | ₹0 Cr | ₹2 Cr | ₹6 Cr | ₹6 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹32 Cr | ₹1 Cr |
| Other assets | ₹170 Cr | ₹167 Cr | ₹184 Cr | ₹181 Cr | ₹250 Cr | ₹259 Cr |
| Total assets | ₹350 Cr | ₹343 Cr | ₹359 Cr | ₹364 Cr | ₹422 Cr | ₹429 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count grew 14% to 2,302.
- Promoters
- 62.9%
- DIIs
- 0.0%
- Public
- 37.1%
Since Jun 2025
- Promoters 0.00 pp
- DIIs 0.00 pp
- Public 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Dec '23: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Mar '24: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Jun '24: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Sep '24: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Dec '24: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Mar '25: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Jun '25: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Sep '25: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Dec '25: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Mar '26: Promoters 62.9%, DIIs 0.0%, Public 37.1%.Jun '26: Promoters 62.9%, DIIs 0.0%, Public 37.1%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Jay Ushin above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| U Shin Limited | 26.00% | unchanged |
| Consortium Vyapaar Limited | 13.61% | unchanged |
| Ashwani Minda | 8.44% | unchanged |
| J P M Automobiles Ltd | 7.86% | unchanged |
| Ashvandana Management Holdings Private Limited | 6.51% | unchanged |
| Jpm Gas Limited | 5.30% | unchanged |
| Jpm Farms Private Limited | 5.14% | unchanged |
| Panchmukhi Management Services Private Limited | 3.86% | unchanged |
| Manish Merchants Private Limited | 3.61% | unchanged |
| Dwarika Electroinvest Private Limited | 2.26% | unchanged |
| Mew Tools Private Limited | 1.68% | unchanged |
| Jpm Tools Limited | 1.61% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
ExpensiveTo justify its price of ₹831, this stock must grow earnings at 20% every year for 7 years. Our analysis caps realistic growth at ~10%. At that growth it is worth ₹485 — downside of 42%.
- Growth the price implies
- 20.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 10.1% a year
- net profit, FY23–FY26 · EPS 10.1%
- The gap
- 0.1 pp
- -42% downside if it only repeats history
Learn to analyse Jay Ushin
Guides on how to read this kind of business and the numbers that matter.