Jay Bharat Maruti Limited (JAYBARMARU) AI Stock Analysis

• Market Cap: ₹10.25B
• Dividend Yield: 0.74%
• Average Volume (3M): 30.39K
• Price to Earnings (P/E): 13.4
• Beta (1Y): 0.93
• Revenue Growth: 4.76%
• EPS Growth: 150.94%
• Country: IN
• Employees: 1,077
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): 1.70
• Shares Outstanding: 108,250,000
• 10 Day Avg. Volume: 11,155
• 30 Day Avg. Volume: 30,395
• PEG Ratio: 9.83
• Price to Book (P/B): 1.16
• Price to Sales (P/S): 0.28
• P/FCF Ratio: -9.94
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: ₹100.00 ▲(9.39% Upside)
• Action: Upgraded Date: 02/10/26
• Date: Action: Upgraded 02/10/26

The score is driven primarily by solid financial performance with improving operating efficiency, tempered by low net profitability, rising leverage, and negative free cash flow. Technicals are supportive with price trading above major moving averages, while valuation is reasonable on a low P/E but offers a modest dividend yield.

Positive Factors

Improving margins & revenue growth

Consistent revenue growth combined with rising gross (22.35%) and EBIT (13.72%) margins indicates sustained operational improvements and better cost control. Over the medium term this strengthens program-level profitability, improves resilience to input-cost swings and supports reinvestment into higher-value assemblies.

Strong operating cash generation

Improving operating cash flow and a high OCF-to-net-income ratio (6.06) show the business converts reported earnings into cash effectively. This durable cash generation supports working-capital needs, capex funding and debt servicing, reducing reliance on external short-term liquidity in the next several quarters.

Balanced capital structure

An equity ratio around 33.66% suggests a balanced financing mix and an equity buffer against operational shocks. This capital structure enables the firm to pursue necessary capex and program onboarding while retaining access to credit, supporting medium-term operational continuity and strategic investments.

Negative Factors

Low net profitability

A net margin of 1.43% leaves very limited room to absorb raw-material cost increases or pricing pressure from OEM negotiation. Persistently thin net profitability constrains retained earnings, reduces ability to self-fund growth or dividends, and increases vulnerability to demand or supply shocks.

Rising leverage

Debt-to-equity near 0.96 reflects a meaningful rise in leverage and greater reliance on borrowed funds. Higher leverage increases interest expense sensitivity, reduces financial flexibility and raises refinancing risk, which can amplify stress if OEM volumes or margins deteriorate over the medium term.

Negative free cash flow

Free cash flow turning negative due to higher capex constrains the firm's ability to pay down debt, return capital or build cash reserves. If incremental capex returns lag or demand softens, continued negative FCF would pressure liquidity and force trade-offs in capital allocation over the coming quarters.

Jay Bharat Maruti Limited Business Overview & Revenue Model

Company Description

Jay Bharat Maruti Limited manufactures and sells auto components and assemblies in India. It offers sheet metal components, welded assemblies, exhaust systems, fuel fillers, rear axles, muffler assemblies, fuel necks, tools and dies, spare parts, components, BIW parts, and suspension parts for motor vehicles. The company was founded in 1986 and is based in Gurugram, India.

How the Company Makes Money

Jay Bharat Maruti Limited makes money primarily by manufacturing and selling automotive components and assemblies to vehicle manufacturers (OEMs). Its core revenue stream is the sale of fabricated metal parts/assemblies (e.g., welded and sheet-metal based sub-assemblies) that are supplied under customer purchase orders and long-term supply arrangements typical of the auto-ancillary industry. Revenue is driven by (1) production volumes linked to OEM vehicle output, (2) the mix of parts/programs supplied (higher value-added assemblies generally generating higher realizations), and (3) pricing structures that typically account for raw-material cost movements and agreed conversion margins. The company’s earnings are also influenced by operational factors such as capacity utilization, manufacturing efficiency, scrap and yield management, and the ability to win additional part programs with existing or new OEM platforms. Specific customer names, contract terms, or segment-wise revenue breakdowns are not available here and are therefore null.

Jay Bharat Maruti Limited Financial Statement Overview

Summary

Income statement strength (78) is supported by consistent revenue growth and improving gross/EBIT margins, but profitability remains thin with a low net margin. The balance sheet (70) is stable on equity ratio, yet higher leverage (debt-to-equity 0.96) and modest ROE weigh on quality. Cash flow (65) shows solid operating cash generation but negative free cash flow in 2025 due to higher capex.

Income Statement

Jay Bharat Maruti Limited has shown consistent revenue growth over the years, with a notable increase of 11.15% from 2022 to 2023. The gross profit margin has improved, reaching 22.35% in 2025, indicating better cost management. However, the net profit margin remains relatively low at 1.43%, suggesting room for improvement in profitability. The EBIT margin has improved to 13.72% in 2025, reflecting enhanced operational efficiency.

Balance Sheet

The company maintains a stable equity ratio of approximately 33.66% in 2025, which suggests a balanced approach to financing operations with equity and debt. However, the debt-to-equity ratio has increased to 0.96, indicating an elevated reliance on debt, which poses a risk if not managed carefully. Return on equity stands at a modest 5.85%, showing potential for higher profitability.

Cash Flow

Operating cash flow has improved over the years, with a growth rate of 6.22% from 2024 to 2025. However, free cash flow has turned negative in 2025, primarily due to increased capital expenditures. The operating cash flow to net income ratio is healthy at 6.06, indicating effective cash generation relative to net income.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	23.14B	22.93B	22.92B	23.44B	20.78B	14.00B
Gross Profit	4.69B	5.13B	1.19B	1.24B	2.40B	2.42B
EBITDA	1.96B	1.67B	1.67B	1.75B	1.50B	1.40B
Net Income	508.17M	329.13M	322.12M	379.04M	281.45M	262.33M
Balance Sheet
Total Assets	0.00	16.72B	15.56B	12.99B	13.27B	12.33B
Cash, Cash Equivalents and Short-Term Investments	29.36M	24.99M	40.34M	72.34M	33.70M	25.95M
Total Debt	0.00	5.40B	4.40B	3.36B	3.80B	3.69B
Total Liabilities	-5.63B	11.09B	10.17B	7.91B	8.53B	7.83B
Stockholders Equity	5.63B	5.63B	5.39B	5.08B	4.74B	4.50B
Cash Flow
Free Cash Flow	0.00	-655.43M	430.24M	871.39M	277.98M	1.12B
Operating Cash Flow	0.00	1.99B	1.88B	1.54B	1.06B	1.63B
Investing Cash Flow	0.00	-2.65B	-1.40B	-649.83M	-758.40M	-498.97M
Financing Cash Flow	0.00	650.45M	-511.38M	-867.47M	-286.09M	-1.13B

Jay Bharat Maruti Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 91.42
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JAYBARMARU, the sentiment is Neutral. The current price of 91.42 is below the 20-day moving average (MA) of 103.66, below the 50-day MA of 96.44, and above the 200-day MA of 88.96, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 44.45 is Neutral, neither overbought nor oversold. The STOCH value of 14.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:JAYBARMARU.

Jay Bharat Maruti Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JAYBARMARU	74 Outperform	₹10.25B	13.37	―	0.74%	4.76%	150.94%
SHARDAMOTR	66 Neutral	₹47.79B	16.59	―	2.75%	6.96%	6.33%
JBMA	64 Neutral	₹123.39B	67.30	―	0.15%	7.63%	11.25%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
SHOPERSTOP	59 Neutral	₹33.12B	65.70	―	―	8.80%	9.81%
UCAL	51 Neutral	₹2.21B	-6.33	―	―	5.70%	-18.05%
SHIVAMAUTO	45 Neutral	₹2.24B	-3.18	―	―	-11.18%	-22.17%

Jay Bharat Maruti Limited Corporate Events

Jay Bharat Maruti completes e-dispatch of postal ballot notice, reinforces governance norms

Jay Bharat Maruti Limited has announced that it has completed the electronic dispatch of its Postal Ballot notice to shareholders and has published the requisite advertisements in Hindi and English editions of Business Standard, in line with SEBI’s Listing Obligations and Disclosure Requirements. The notice and related information are also being hosted on the company’s website, underscoring its adherence to regulatory norms and its use of digital channels to facilitate shareholder communication and participation in corporate decisions.

This step reinforces Jay Bharat Maruti’s corporate governance practices by ensuring transparent dissemination of information ahead of shareholder voting through e-voting and postal ballot. For investors and other stakeholders, the move signals operational compliance with market regulations and a continued focus on efficient, paperless communication for key corporate actions.