JMA
Jullundur Motor Agency (Delhi) financials
- Market cap
- ₹213 Cr
What Jullundur Motor Agency (Delhi) Limited does
Jullundur Motor Agency (Delhi) Limited is engaged in the trading and distribution of auto spare parts across India, not manufacturing. It sells through a nationwide branch network supported by a dealer network, with sales staff increasingly using a mobile application to check pricing, inventory and outstanding data and to book customer orders directly. Its material subsidiary, JMA Marketing Limited, carries out the same auto spare parts distribution business in different regions of India.
Segments
- Auto spare parts distribution (aftermarket)
- Branch/regional office network
- ~58 cities across India
- Group distribution entities
- Parent company plus material subsidiary JMA Marketing Limited, both distributing auto spare parts pan-India
- Sales technology
- Mobile ordering app used by branch sales staff for pricing, inventory and order booking
- Registered office energy source
- Solar power system meeting most of registered office's own power requirement
- Distribution channel
- Dealer network supporting branch sales across India
Quarterly results
Q1 FY27: revenue up 17.4%, net profit up 48.2% 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 | 99 | 108 | 124 | 106 | 110 +11% | 129 +20% | 136 +10% | 125 +17% |
| EBITDA | 3 | 6 | 8 | 4 | 4 +38% | 7 +33% | 9 +1% | 7 +82% |
| Net profit | 4 | 5 | 7 | 4 | 6 +49% | 7 +29% | 8 +6% | 6 +48% |
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 +5.6% 1Y
1Y: ₹88.29 on 10 Sept 2025 → ₹93.22. High ₹97.14 (9 Sept 2026), low ₹70.99 (22 Jan 2026).
Financials, as filed
Revenue grew 0.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 4.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹477 Cr | ₹423 Cr | ₹432 Cr | ₹481 Cr |
| Operating profit | ₹30 Cr | ₹22 Cr | ₹21 Cr | ₹24 Cr |
| Operating margin | 6.2% | 5.2% | 4.8% | 4.9% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹25 Cr | ₹21 Cr | ₹20 Cr | ₹25 Cr |
| Net margin | 5.3% | 4.9% | 4.7% | 5.1% |
| Cash from operations | ₹3 Cr | ₹12 Cr | ₹-2 Cr | ₹10 Cr |
| Free cash flow | ₹-1 Cr | ₹12 Cr | ₹-2 Cr | ₹10 Cr |
| ROCE | 18.0% | 15.0% | 13.0% | 14.0% |
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 | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr |
| Reserves | ₹139 Cr | ₹156 Cr | ₹175 Cr | ₹192 Cr | ₹252 Cr | ₹229 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹66 Cr | ₹73 Cr | ₹74 Cr | ₹80 Cr | ₹74 Cr | ₹61 Cr |
| Total liabilities | ₹210 Cr | ₹234 Cr | ₹253 Cr | ₹277 Cr | ₹330 Cr | ₹294 Cr |
| Fixed assets | ₹11 Cr | ₹11 Cr | ₹14 Cr | ₹14 Cr | ₹16 Cr | ₹14 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹16 Cr | ₹15 Cr | ₹15 Cr | ₹17 Cr | ₹5 Cr | ₹19 Cr |
| Other assets | ₹183 Cr | ₹208 Cr | ₹223 Cr | ₹246 Cr | ₹308 Cr | ₹262 Cr |
| Total assets | ₹210 Cr | ₹234 Cr | ₹253 Cr | ₹277 Cr | ₹330 Cr | ₹294 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 shrank 7% to 11,374.
- Promoters
- 51.0%
- FIIs
- 0.1%
- DIIs
- 0.0%
- Public
- 49.0%
Since Jun 2025
- Promoters 0.00 pp
- FIIs 0.00 pp
- DIIs 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 48.9%.Dec '23: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 48.9%.Mar '24: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 48.9%.Jun '24: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 49.0%.Sep '24: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 48.9%.Dec '24: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 49.0%.Mar '25: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 49.0%.Jun '25: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 49.0%.Sep '25: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 49.0%.Dec '25: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 49.0%.Mar '26: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 49.0%.Jun '26: Promoters 51.0%, FIIs 0.1%, DIIs 0.0%, Public 49.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Shuchi Arora +31.55 pp 39.73% held
- Investor Education And Protection Fund Authority Ministry Of Corporate Affairs +0.09 pp 5.93% held
- Investor Education and Protection Fund (IEPF) +0.09 pp 5.93% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Jullundur Motor Agency (Delhi) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Shuchi Arora | 39.73% | +31.55 pp |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 5.93% | +0.09 pp |
| Investor Education and Protection Fund (IEPF) | 5.93% | +0.09 pp |
| Deepak Arora | 5.80% | unchanged |
| Aditi Arora Malik | 2.01% | unchanged |
| Aashna Arora | 1.86% | unchanged |
| S K Lakhanpal | 1.59% | unchanged |
| Sankalp Mohan Singh | 1.02% | unchanged |
| Mridu Hari Dalmia | 1.02% | unchanged |
| Manisha Kapoor | 0.62% | unchanged |
| Navneet Arora | 0.52% | unchanged |
| Varoon Malik | 0.26% | 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
FairTo justify its price of ₹93, this stock must grow earnings at 0% every year for 7 years. Our analysis caps realistic growth at ~-1%. At that growth it is worth ₹87 — downside of 6%.
- Growth the price implies
- 0.2% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -1.3% a year
- net profit, FY23–FY26 · EPS -1.0%
- The gap
- 0.0 pp
- -6% downside if it only repeats history
Learn to analyse Jullundur Motor Agency (Delhi) Limited
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