JBM Auto share price & results
- Sept 2026
- Sept 2026
India's leading electric bus maker, with vertically integrated auto components, EV batteries and tooling businesses.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,756 | +46.0% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 7.0 | −2.0 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 49.0 | +8.9% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | 14.47 | −0.4 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -5.88 | −11.0 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 15.89 | +2.0 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Price
Performance −25.3% 1Y
1Y: ₹649 on 24 Oct 2025 → ₹485.1. High ₹728.1 (22 Jun 2026), low ₹485.1 (26 Oct 2026).
- Previous close
- ₹487.15
- Market cap
- ₹11.5k Cr
- 52-week range
- ₹485.1 – ₹728.1
- One year
- −25.85%
- Price to earnings (TTM to Sept 2026)
- 48.92×
- Return on equity (TTM to Sept 2026)
- 14.47%
Overview
- Symbol
- NSE:JBMA
- Industry
- Consumer Discretionary
- Exchange
- NSE
- Currency
- INR
What JBM Auto does
Based on the company's own presentations, annual report and earnings calls.
JBM Auto designs, manufactures and deploys zero-emission electric buses through its OEM Business, while its E-Mobility Business provides EV charging infrastructure, depot electrification and mobility-as-a-service for government and enterprise fleets. Its Auto Components & Systems division supplies chassis systems, suspension systems, fuel and air tanks, exhaust systems, skin panels and truck cabins to leading OEMs on a vertically integrated basis, and its Tooling & Dies business operates one of India's largest tool rooms, producing high-precision dies and molds for internal and external clients. The company runs 11 manufacturing facilities across India, including an integrated electric bus plant and India's largest high-voltage lithium-ion battery facility, and has expanded internationally with regional hubs in Germany, Singapore and the UAE.
Segments
- OEM Business (Electric Buses)
- E-Mobility Business
- Auto Components & Systems
- Tooling & Dies
- Manufacturing facilities in India
- 11 plants
- Electric bus manufacturing capacity (Banchari, Haryana plant)
- 20,000 buses/year
- Li-ion battery manufacturing capacity
- 6 GWh/annum — India's largest high-voltage facility
- Electric bus order book
- 11,000+ buses deployed & under execution
- Electric bus deployment footprint
- 23 cities, 49 depots
- EV charging infrastructure installed
- 1,000+ DC chargers, including megawatt systems
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +9% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,277 | 1,346 | 1,234 | 1,203 | 1,279 | 1,686 | 1,356 | 1,756 |
| Expenses | 1,175 | 1,235 | 1,135 | 1,092 | 1,175 | 1,576 | 1,247 | 1,629 |
| Operating profit | 102 | 111 | 99 | 111 | 104 | 109 | 109 | 127 |
| Operating margin | 8.0% | 8.0% | 8.0% | 9.0% | 8.0% | 6.0% | 8.0% | 7.0% |
| Other income | 16 | 16 | 8 | 20 | 18 | 11 | 4 | 16 |
| Interest | 48 | 44 | 36 | 42 | 46 | 46 | 40 | 50 |
| Depreciation | 29 | 29 | 28 | 28 | 29 | 29 | 29 | 29 |
| Profit before tax | 42 | 54 | 43 | 61 | 46 | 46 | 44 | 65 |
| Tax rate | 27.0% | 28.0% | 26.0% | 26.0% | 14.0% | 31.0% | 28.0% | 25.0% |
| Net profit | 30 | 39 | 32 | 45 | 40 | 31 | 32 | 49 |
| EPS (₹ per share) | 1.28 | 1.66 | 1.36 | 1.91 | 1.67 | 1.33 | 1.35 | 2.07 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 3,857 | 4,244 | 4,777 | 5,402 |
| Expenses | 3,461 | 3,944 | 4,380 | 4,978 |
| Operating profit | 396 | 299 | 398 | 423 |
| Other income | 30 | 27 | 60 | 57 |
| Interest | 125 | 134 | 163 | 170 |
| Depreciation | 130 | 109 | 115 | 114 |
| Profit before tax | 170 | 82 | 180 | 196 |
| Net profit | 125 | 61 | 133 | 148 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 24 | 24 | 24 | 24 | 24 | 24 |
| Reserves | 977 | 1,021 | 1,136 | 1,394 | 1,264 | 1,325 |
| Borrowings | 1,290 | 1,256 | 1,265 | 3,181 | 1,654 | 1,882 |
| Other liabilities | 766 | 983 | 1,028 | 1,729 | 1,514 | 1,560 |
| Total liabilities | 3,056 | 3,284 | 3,453 | 6,327 | 4,455 | 4,790 |
| Fixed assets | 979 | 959 | 967 | 1,736 | 924 | 1,024 |
| Capital work in progress | 10 | 72 | 12 | 78 | 116 | 41 |
| Investments | 229 | 300 | 300 | 101 | 626 | 624 |
| Other assets | 1,838 | 1,954 | 2,174 | 4,413 | 2,790 | 3,101 |
| Total assets | 3,056 | 3,284 | 3,453 | 6,327 | 4,455 | 4,790 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 14 | 32 | 62 | 489 | 314 | -33 |
| Cash from investing | -159 | -186 | -141 | -311 | -146 | -153 |
| Cash from financing | 138 | 166 | 68 | -184 | -111 | 202 |
| Net cash flow | -7 | 12 | -11 | -5 | 57 | 16 |
| Free cash flow | -70 | -61 | -39 | 343 | 235 | -204 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 132 | 71 | 79 | 63 | 75 | 131 |
| Inventory days | 94 | 64 | 54 | 72 | 55 | 40 |
| Days payable | 148 | 88 | 57 | 73 | 63 | 82 |
| Cash conversion cycle | 78 | 48 | 76 | 62 | 67 | 89 |
| Working capital days | -13 | -4 | 5 | -17 | 2 | 7 |
| Return on capital employed | 10.0% | 15.0% | 13.0% | 9.0% | 14.0% | 13.0% |
| Dividend payout | 13.0% | 8.0% | 13.0% | 29.0% | 15.0% | 14.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Component division contributes 61.9% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Component division 61.9%
₹894.12 crore
- EV Business 31.9%
₹460.04 crore
- Tool Room division 6.2%
₹89.19 crore
- Others 0.0%
₹0.00 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Component division | 894.12 | 61.9% |
| EV Business | 460.04 | 31.9% |
| Tool Room division | 89.19 | 6.2% |
| Others | 0.00 | 0.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹1,443.35 crore
- Intersegment adjustment
- ₹0.90 crore
- Net segment revenue
- ₹1,442.45 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Each segment’s share of reported revenue, quarter by quarter.
| Segment | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Component division | — | — | — | — | — | — | — | 62% | — |
| EV Business | — | — | — | — | — | — | — | 32% | — |
| Tool Room division | — | — | — | — | — | — | — | 6% | — |
| Others | 0% | 0% | 0% | 0% | — | 0% | — | 0% | — |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
What the price assumes
Growth trapTo justify its price of ₹485, this stock must grow earnings at 43% every year for 7 years. Our analysis caps realistic growth at ~6%. At that growth it is worth ₹77 — downside of 84%.
- Growth the price implies
- 42.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 5.8% a year
- net profit, FY23–FY26 · EPS 6.0%
- The gap
- 0.4 pp
- -84% downside if it only repeats history
Ownership
Who owns it
Promoters hold 67.53% as of Sept 2026; institutions cut 0.13 pts since Jun 2026.
- Promoters 67.53%
- Foreign institutions 1.93%
- Domestic institutions 0.13%
- Public 30.40%
Who is on the register
Named in the Sep 2026 filing
Every holder of JBM Auto above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 16.35% | unchanged | |
| 11.68% | unchanged | |
| 8.81% | unchanged | |
| 7.67% | unchanged | |
| 7.47% | −0.06 pp | |
| 7.24% | unchanged | |
| 6.41% | unchanged | |
| 4.81% | unchanged | |
| 4.55% | unchanged | |
| 3.34% | unchanged | |
| 1.93% | unchanged | |
| 0.84% | 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.
Mutual funds in JBMA
Filings to Sep 2026
0 new, 1 added, 3 trimmed, 0 sold out — net −0.03 L shares (−2.2%).
- Held by funds
- ₹6 Cr
- 5 schemes
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹3 Cr · 0.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹3 Cr | −0.02 L | Sep '22 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹2 Cr | −0.01 L | Oct '22 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | held | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
1 added, 3 trimmed — net −2,537 shares (−2.2%)
- Funds are sitting on
- -25%
- vs est. average cost
- Held by funds
- ₹6 Cr
- 5 schemes · ≈ 0.05% of the company
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹3 Cr · 0.1% of that fund
Shares held by these funds +241%
Oct '23 1.11 L shares Sep '26
Your own record
Start an Inve Case for JBM Auto
Free account: one company. Everything above stays public.
Write why you follow JBM Auto and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Other Automobile and Auto Components companies
Learn to analyse JBM Auto
Guides on how to read this kind of business and the numbers that matter.