JAYBEE

Jay Bee Laminati financials

Noida-based manufacturer of CRGO silicon steel cores and laminations for power & distribution transformers, now expanding into transformer manufacturing and T&D EPC turnkey projects.

Market cap: ₹198 Cr
Sector: Capital Goods
Calls analysed: 3

Latest concall · Q4 FY26 · call held 19 May 2026

Jay Bee Laminati Q4 FY26

Total Revenue ₹549 cr +50%EBITDA ₹34 cr −21%Profit After Tax ₹18.2 cr −28%

What went well

Total annual revenue for FY26 stood at INR 549 crores, representing nearly 50% growth on a full-year basis.
H2 FY26 revenue was INR 329 crores, showing nearly 50% sequential growth.
The EPC projects business contributed INR 141.5 crores revenue, making up 25% of the total.

What to watch

EBITDA declined to INR 34 crores in FY26 from INR 43 crores in FY25.
Profit after tax decreased to INR 18.2 crores in FY26 compared to INR 25.4 crores in FY25.

Read the full call →

What Jay Bee Laminati does

Jay Bee Laminations manufactures CRGO (Cold Rolled Grain Oriented) Silicon Steel Cores for the power and distribution transformer industry from three manufacturing units at Noida and Greater Noida, Uttar Pradesh. Its product range includes Cut Laminations, Assembled Cores, Core Coil Assemblies, and, more recently, complete transformers. The company has diversified downstream into T&D (transmission & distribution) EPC turnkey projects, supplying and executing works for power utilities and industrial customers, supported by an in-house NABL-accredited testing laboratory.

Segments

Manufacturing of CRGO Products and Transformers
EPC Turnkey Projects

Manufacturing units: 3 (Noida & Greater Noida, Uttar Pradesh)
Installed CRGO capacity: 23,340 MTPA (post-expansion)
Installed transformer capacity: 1,000 MVA
Total manufacturing area: 1,56,450 sq. ft.
CRGO capacity utilization: ~65% (FY26)
CRGO production volume: 15,554 MT (FY26)

Founded 1988Headquarters Noida, Uttar Pradesh, India Company website

Guidance record · Q4 FY26

what the last two calls moved 14 tracked 4 delivered 4 missed 6 open

Total Installed Capacity delivered said Q4 FY25 Promised: 23,340 metric tons within FY '26 Q4 FY26: The company confirmed its installed capacity is now 24,000 metric tonnes per annum.
CRGO Volume missed said Q4 FY25 Promised: FY '26 and FY '27 volume growth of another 30% (implies ~16,120 MT for FY26) Q4 FY26: Achieved 25% volume growth in FY26, below the 30% target. Management is now guiding for a similar 25% growth in FY27.
Transformer & CCA Revenue FY27 revised down said Q4 FY25 Promised: at least ₹40 crores, ₹50 crores Q4 FY26: Guidance for FY27 has been revised down significantly to INR 20-30 crores.

All 14 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q4 FY26: revenue up 120.8%, net profit up 50.0% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY24	Q4 FY24	Q2 FY25	Q4 FY25	Q2 FY26	Q4 FY26
Revenue	154	149	153	214	219 +42%	329 +121%
Expenses	139	132	130	194	209	305
EBITDA	15	17	23	20	10 −33%	24 +41%
Margin	10%	11%	15%	9%	5%	7%
Other income	0	0	0	0	0	1
Interest	3	3	3	4	4	4
Depreciation	1	1	1	2	2	3
Profit before tax	12	13	19	15	5 −58%	18 +38%
Tax rate	19%	25%	26%	27%	21%	18%
Net profit	10	10	14	11	4 −60%	15 +50%
EPS	32.24	5.38	6.39	4.86	1.64	6.46

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.

Balance sheet

Year ending	FY21	FY22	FY23	FY24	FY25	FY26
Equity capital	₹3 Cr	₹3 Cr	₹3 Cr	₹18 Cr	₹23 Cr	₹23 Cr
Reserves	₹22 Cr	₹27 Cr	₹40 Cr	₹45 Cr	₹129 Cr	₹143 Cr
Borrowings	₹27 Cr	₹27 Cr	₹31 Cr	₹24 Cr	₹43 Cr	₹32 Cr
Other liabilities	₹4 Cr	₹38 Cr	₹34 Cr	₹50 Cr	₹30 Cr	₹140 Cr
Total liabilities	₹56 Cr	₹95 Cr	₹109 Cr	₹137 Cr	₹225 Cr	₹338 Cr
Fixed assets	₹10 Cr	₹5 Cr	₹6 Cr	₹5 Cr	₹27 Cr	₹36 Cr
Capital work in progress	₹0 Cr	₹0 Cr	₹0 Cr	₹3 Cr	₹0 Cr	₹0 Cr
Investments	₹0 Cr	₹4 Cr	₹4 Cr	₹4 Cr	₹7 Cr	₹0 Cr
Other assets	₹46 Cr	₹86 Cr	₹100 Cr	₹125 Cr	₹190 Cr	₹301 Cr
Total assets	₹56 Cr	₹95 Cr	₹109 Cr	₹137 Cr	₹225 Cr	₹338 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 Mar 2026

Since Mar 2025, DIIs trimmed −2.59 pp while the public added +2.20 pp. The shareholder count grew 17% to 2,491.

Promoters: 70.6%
FIIs: 0.7%
DIIs: 0.8%
Public: 27.9%

Since Mar 2025

DIIs −2.59 pp
Public +2.20 pp
FIIs +0.39 pp

How it drifted, 4 quarters

Over this window the public went from 21.3% to 27.9% — +6.6 pp.

Sep '24Mar '25Mar '26

Who was buying across the market this quarter →

Who is on the register

Named in the Mar 2026 filing

Every holder of Jay Bee Laminati above SEBI's 1% disclosure line, and what changed since Sep 2025.

Holder	Stake	Change
Munish Kumar Aggarwal	54.41%	unchanged
Sunita Aggarwal	10.53%	unchanged
Mudit Aggarwal	4.84%	unchanged
Munish Kumar Aggarwal Huf	0.53%	unchanged
Priya Gupta	0.27%	unchanged
Mudit Aggarwal Huf	0.03%	unchanged
Tushar Gupta	0.00%	unchanged
Renu Garg	0.00%	unchanged
Seema Gupta	0.00%	unchanged
Neeru Gupta	0.00%	unchanged
Madhu Singla	0.00%	unchanged
Anil Kumar Aggarwal	0.00%	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.

All earnings calls (3)

Read the Q4 FY26 call →

Learn to analyse Jay Bee Laminati

Guides on how to read this kind of business and the numbers that matter.