Incorporated in 1987, Jay Bharat Maruti manufactures automobile components and assemblies[1]
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
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Samvardh. Mothe. | 114.79 | 36.19 | 121207.82 | 0.49 | 845.63 | -3.25 | 30172.97 | 8.49 | 13.66 | 117367.72 | 8.86 | 3348.88 | 851.18 | 3.26 | 4.60 | 0.53 |
| 2. | Bosch | 36835.00 | 47.84 | 108660.86 | 1.39 | 554.20 | 10.82 | 4794.80 | 9.11 | 21.11 | 18959.70 | 13.11 | 2271.53 | 554.20 | 7.75 | 10.70 | 0.01 |
| 3. | Bharat Forge | 1457.40 | 64.47 | 69683.86 | 0.58 | 299.28 | 22.83 | 4031.93 | 9.31 | 12.18 | 15268.83 | 17.66 | 1080.93 | 299.20 | 7.44 | 4.72 | 0.71 |
| 4. | Uno Minda | 1184.00 | 62.48 | 68317.18 | 0.19 | 322.79 | 27.14 | 4814.03 | 13.41 | 18.83 | 18015.43 | 11.54 | 1093.46 | 303.99 | 10.96 | 9.36 | 0.46 |
| 5. | Schaeffler India | 3835.60 | 53.73 | 60045.53 | 0.73 | 306.65 | 24.08 | 2360.14 | 13.86 | 25.67 | 8834.57 | 18.98 | 1117.62 | 306.65 | 10.89 | 14.85 | 0.01 |
| 6. | Tube Investments | 2342.60 | 72.31 | 45324.84 | 0.15 | 302.05 | -9.73 | 5522.64 | 12.15 | 21.80 | 20793.88 | 9.22 | 626.78 | 186.66 | 6.03 | 7.33 | 0.09 |
| 7. | Endurance Tech. | 2526.00 | 40.74 | 35590.03 | 0.40 | 227.27 | 11.97 | 3582.82 | 23.01 | 17.26 | 12724.36 | 13.48 | 873.65 | 227.27 | 5.68 | 9.21 | 0.20 |
| 8. | Jay Bharat Maru. | 93.05 | 15.55 | 1003.73 | 0.75 | 18.03 | 503.01 | 582.65 | 4.90 | 7.87 | 2340.80 | 9.40 | 64.55 | 18.03 | 1.68 | 1.91 | 1.03 |
| – | Median: 126 Co. | 431.58 | 28.52 | 1204.66 | 0.39 | 12.47 | 10.98 | 212.47 | 11.11 | 14.73 | 825.68 | 12.04 | 38.48 | 10.76 | 2.96 | 6.48 | 0.39 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 581 | 536 | 673 | 533 | 613 | 548 | 598 | 533 | 555 | 591 | 611 | 557 | 583 |
Expenses | 537 | 496 | 622 | 496 | 568 | 507 | 555 | 496 | 521 | 555 | 553 | 491 | 521 |
Operating Profit | 43 | 40 | 51 | 37 | 45 | 41 | 43 | 38 | 34 | 35 | 58 | 66 | 61 |
Other Income | 1 | 0 | 0 | 1 | 0 | 1 | 2 | 0 | 1 | 1 | 1 | 0 | 1 |
Profit before tax | 14 | 11 | 22 | 7 | 14 | 10 | 15 | 8 | 5 | 6 | 29 | 36 | 28 |
Tax % | 36% | 37% | 35% | 33% | 36% | 35% | 27% | 34% | 34% | 34% | 33% | 35% | 36% |
Net Profit | 9 | 7 | 14 | 5 | 9 | 6 | 11 | 5 | 3 | 4 | 20 | 23 | 18 |
EPS in Rs | 0.82 | 0.61 | 1.30 | 0.47 | 0.80 | 0.60 | 1.03 | 0.50 | 0.28 | 0.36 | 1.81 | 2.13 | 1.67 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,212 | 1,294 | 1,302 | 1,527 | 1,730 | 1,994 | 1,658 | 1,499 | 2,078 | 2,344 | 2,292 | 2,290 | 2,341 |
Expenses | 1,105 | 1,189 | 1,185 | 1,394 | 1,575 | 1,819 | 1,517 | 1,363 | 1,928 | 2,171 | 2,126 | 2,125 | 2,121 |
Operating Profit | 106 | 105 | 117 | 133 | 156 | 175 | 141 | 136 | 150 | 173 | 167 | 165 | 220 |
Other Income | -12 | 7 | 4 | 1 | 4 | 3 | 2 | 4 | 0 | 1 | 4 | 3 | 3 |
Interest | 22 | 21 | 22 | 18 | 20 | 34 | 38 | 33 | 33 | 37 | 40 | 36 | 37 |
Depreciation | 46 | 38 | 39 | 41 | 49 | 61 | 63 | 66 | 75 | 80 | 84 | 84 | 88 |
Profit before tax | 27 | 53 | 60 | 75 | 90 | 82 | 42 | 42 | 42 | 58 | 46 | 47 | 99 |
Net Profit | 17 | 40 | 40 | 54 | 59 | 52 | 28 | 26 | 27 | 37 | 31 | 32 | 65 |
EPS in Rs | 1.53 | 3.70 | 3.68 | 4.97 | 5.44 | 4.82 | 2.59 | 2.41 | 2.54 | 3.45 | 2.90 | 2.94 | 5.97 |
Dividend Payout % | 16% | 11% | 11% | 10% | 9% | 10% | 10% | 10% | 20% | 20% | 24% | 24% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 22 | 22 | 22 | 22 | 22 |
Reserves | 161 | 196 | 242 | 294 | 349 | 393 | 412 | 439 | 452 | 485 | 515 | 538 | 577 |
Borrowings | 212 | 159 | 134 | 255 | 298 | 404 | 445 | 369 | 380 | 336 | 440 | 540 | 616 |
Other Liabilities | 200 | 257 | 242 | 267 | 377 | 398 | 339 | 414 | 473 | 456 | 577 | 569 | 611 |
Total Liabilities | 584 | 623 | 629 | 827 | 1,035 | 1,206 | 1,207 | 1,233 | 1,326 | 1,298 | 1,553 | 1,668 | 1,825 |
Fixed Assets | 374 | 399 | 398 | 452 | 632 | 832 | 817 | 860 | 856 | 881 | 906 | 922 | 1,200 |
Gross Block | 750.43 | 806.15 | 436.89 | 531.43 | 760.21 | 1,021.14 | 1,067.64 | 1,175.25 | 1,246.40 | 1,346.52 | 1,455.01 | 1,552.87 | – |
Accumulated Depreciation | 376.64 | 407.22 | 38.64 | 79.90 | 128.00 | 189.37 | 250.27 | 315.47 | 389.96 | 465.35 | 548.60 | 630.49 | – |
CWIP | 23 | 1 | 8 | 64 | 93 | 51 | 143 | 83 | 62 | 23 | 162 | 308 | 64 |
Investments | 2 | 2 | 8 | 12 | 15 | 17 | 21 | 24 | 26 | 26 | 32 | 34 | 40 |
Other Assets | 185 | 221 | 214 | 300 | 295 | 305 | 226 | 266 | 382 | 368 | 453 | 404 | 522 |
Total Assets | 584 | 623 | 629 | 827 | 1,035 | 1,206 | 1,207 | 1,233 | 1,326 | 1,298 | 1,553 | 1,668 | 1,825 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 107 | 88 | 95 | 58 | 209 | 128 | 154 | 163 | 106 | 154 | 188 | 199 |
Cash from Investing Activity | -76 | -21 | -53 | -160 | -226 | -195 | -144 | -50 | -76 | -65 | -140 | -265 |
Cash from Financing Activity | -32 | -67 | -42 | 103 | 17 | 66 | -10 | -113 | -29 | -87 | -51 | 65 |
Net Cash Flow | -2 | 0 | 1 | 0 | 0 | -1 | 1 | 1 | 1 | 3 | -4 | -1 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 9 | 12 | 10 | 32 | 6 | 14 | 11 | 15 | 16 | 13 | 20 | 14 |
Inventory Days | 38 | 45 | 49 | 35 | 56 | 40 | 35 | 49 | 47 | 40 | 55 | 51 |
Days Payable | 49 | 57 | 52 | 56 | 50 | 49 | 47 | 66 | 60 | 51 | 68 | 65 |
Cash Conversion Cycle | -2 | -0 | 7 | 11 | 12 | 5 | -1 | -2 | 3 | 2 | 7 | 0 |
Working Capital Days | -39 | -30 | -21 | -20 | -27 | -29 | -45 | -54 | -39 | -28 | -40 | -38 |
ROCE % | 16% | 18% | 21% | 20% | 18% | 16% | 10% | 9% | 9% | 11% | 9% | 8% |
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Jan 2022
Stock Analysis
Jay Bharat Maruti Limited manufactures automobile components and assemblies, serving as a key supplier to Maruti Suzuki India Limited for sheet metal-based body-in-white components, rear axle assemblies, and fuel systems. The company also handles design and development of dies, moulds, and automotive machinery.
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