Jay Bharat Maruti Ltd

₹ 126 -1.30%

21 Aug - close price

jbmgroup.com BSE: 520066 NSE: JAYBARMARU

About

Incorporated in 1987, Jay Bharat Maruti manufactures automobile components and assemblies^[1]

Key Points

Business Overview:^[1]^[2]
JBML was formed as a JV between Arya Family and Maruti Suzuki India Ltd. It is a key supplier of sheet metal-based body-in-white (BIW) components, rear axle assemblies and fuel necks & assemblies, to Maruti Suzuki India Limited, for its entire model range. It also does designing and developing dies and moulds, automotive machines and equipment

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Market Cap ₹ 1,359 Cr.
Current Price ₹ 126
High / Low ₹ 207 / 74.2
Stock P/E 9.83
Book Value ₹ 64.3
Dividend Yield 0.56 %
ROCE 16.6 %
ROE 22.3 %
Face Value ₹ 2.00

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Pros

Company has delivered good profit growth of 39.7% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 17.3%

Cons

The company has delivered a poor sales growth of 11.2% over past five years.
Tax rate seems low
Company has a low return on equity of 11.9% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

Part of BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	533	613	548	598	533	555	591	611	557	583	645	766	627
	496	568	507	555	496	521	555	553	491	521	581	675	564
Operating Profit	37	45	41	43	38	34	35	58	66	61	64	91	63
OPM %	7%	7%	7%	7%	7%	6%	6%	9%	12%	11%	10%	12%	10%
	1	1	1	2	1	1	1	2	0	2	2	2	1
Interest	9	10	11	9	9	9	9	8	9	10	13	12	11
Depreciation	21	21	21	21	21	21	21	21	21	24	25	25	24
Profit before tax	8	14	10	15	8	5	6	30	36	29	29	56	29
Tax %	32%	36%	35%	27%	33%	34%	34%	32%	35%	36%	36%	-41%	25%
	5	9	7	11	5	3	4	21	23	18	18	80	22
EPS in Rs	0.48	0.84	0.62	1.04	0.50	0.28	0.36	1.90	2.15	1.70	1.70	7.35	2.02
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,994	1,658	1,499	2,078	2,344	2,292	2,290	2,551	2,621
	1,820	1,517	1,363	1,928	2,171	2,126	2,125	2,268	2,341
Operating Profit	174	141	136	150	173	167	165	283	280
OPM %	9%	9%	9%	7%	7%	7%	7%	11%	11%
	3	2	5	1	2	5	4	5	6
Interest	34	38	33	33	37	40	36	44	45
Depreciation	61	63	66	75	80	84	84	95	98
Profit before tax	82	42	42	43	58	48	49	150	143
Tax %	36%	33%	37%	35%	35%	32%	33%	7%
	52	28	26	28	38	32	33	140	138
EPS in Rs	4.81	2.61	2.42	2.60	3.50	2.98	3.04	12.90	12.77
Dividend Payout %	10%	10%	10%	19%	20%	24%	23%	5%

Compounded Sales Growth
10 Years:	%
5 Years:	11%
3 Years:	3%
TTM:	13%

Compounded Profit Growth
10 Years:	%
5 Years:	40%
3 Years:	55%
TTM:	172%

Stock Price CAGR
10 Years:	14%
5 Years:	13%
3 Years:	3%
1 Year:	49%

Return on Equity
10 Years:	%
5 Years:	10%
3 Years:	12%
Last Year:	22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	11	11	11	22	22	22	22	22
Reserves	393	412	439	453	486	517	541	674
	404	445	369	380	336	440	540	531
	398	339	414	473	456	577	569	604
Total Liabilities	1,205	1,207	1,233	1,327	1,299	1,556	1,672	1,831
	832	817	860	856	881	906	922	1,173
CWIP	51	143	83	62	23	162	308	110
Investments	17	21	24	26	27	34	38	41
	305	226	266	382	368	453	404	507
Total Assets	1,205	1,207	1,233	1,327	1,299	1,556	1,672	1,831

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	128	154	163	106	154	188	199	197
	-195	-144	-50	-76	-65	-140	-265	-132
	66	-10	-113	-29	-87	-51	65	-62
Net Cash Flow	-1	1	1	1	3	-4	-1	4
Free Cash Flow	-64	16	112	29	88	44	-63	63
CFO/OP	89%	123%	126%	91%	98%	100%	122%	74%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	14	11	15	16	13	20	14	17
Inventory Days	40	35	49	47	40	55	51	52
Days Payable	49	47	66	60	51	68	65	57
Cash Conversion Cycle	5	-1	-2	3	2	7	0	12
Working Capital Days	-29	-45	-54	-39	-28	-40	-38	-13
ROCE %		10%	9%	9%	11%	10%	8%	17%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

MSIL (Maruti Suzuki Group) Sales Concentration
% of revenue ・Standalone data

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	xx.xx	xx.xx	xx.xx	xx.xx			xx.xx	xx.xx	xx.xx
	xx.xx		xx.xx	xx.xx			xx.xx	xx.xx	xx.xx
							x.xx	x.xx	x.xx

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Number of Manufacturing Plants
count ・Standalone data

Total Workforce
count ・Standalone data

Sheet Metal / Stamping & Welding Components - % of Turnover
% of turnover ・Standalone data

Rear Axle - % of Turnover
% of turnover ・Standalone data

Tools, Dies & Moulds - % of Turnover
% of turnover ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%
	3.71%	3.63%	2.61%	0.83%	0.83%	0.83%	0.86%	0.84%	0.98%	0.90%	1.33%	1.31%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
	36.92%	36.99%	38.02%	39.80%	39.80%	39.81%	39.76%	39.79%	39.64%	39.71%	39.31%	39.33%
No. of Shareholders	21,622	23,528	33,025	35,828	38,279	41,107	40,531	40,054	38,317	37,340	36,318	38,131

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	58.56%	58.56%	59.39%	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%	59.35%
	0.05%	0.10%	0.01%	1.98%	3.36%	3.50%	3.40%	2.61%	0.86%	1.33%	1.31%
	3.32%	0.61%	0.09%	0.18%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
	0.00%	0.45%	0.55%	0.60%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	38.07%	40.27%	39.95%	37.89%	36.63%	37.13%	37.24%	38.02%	39.76%	39.31%	39.33%
No. of Shareholders	13,180	15,533	16,272	16,441	15,578	24,421	21,462	33,025	40,531	36,318	38,131

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Jay Bharat Maruti Ltd

Jay Bharat Maruti Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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