JBM Auto Limited (JBMA) AI Stock Analysis

• Market Cap: ₹134.36B
• Dividend Yield: 0.15%
• Average Volume (3M): 343.37K
• Price to Earnings (P/E): 67.3
• Beta (1Y): 1.75
• Revenue Growth: 7.63%
• EPS Growth: 11.25%
• Country: IN
• Employees: 3,351
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): 2.33
• Shares Outstanding: 236,494,260
• 10 Day Avg. Volume: 31,825
• 30 Day Avg. Volume: 343,365
• PEG Ratio: 5.48
• Price to Book (P/B): 10.61
• Price to Sales (P/S): 2.62
• P/FCF Ratio: 52.72
• 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: 65 Neutral
• Price Target: ₹628.00 ▼(-1.93% Downside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is driven primarily by solid financial performance (growth and improved cash flow) but is held back by weak technical momentum (bearish trend signals) and an expensive valuation (high P/E with minimal dividend yield).

Positive Factors

Sustained Revenue Growth and Improving Margins

Consistent top-line growth and rising gross margins reflect successful program wins and better cost control. These trends support durable earnings power, enable reinvestment in capabilities, and reduce sensitivity of gross profit to short-term volume swings over the medium term.

Improving Cash Generation and Positive Free Cash Flow

A material improvement in cash conversion and positive FCF indicate stronger operational cash generation and liquidity. This enhances capacity to fund capex, service or reduce debt, and support long-term program execution without reliance on external financing.

Diversified Product Mix and EV Mobility Exposure

A broad product portfolio across structural, chassis, exhaust and seating, plus electric-bus activity, reduces dependency on any single product or OEM program. This diversification positions the company to capture structural shifts toward electric mobility and multiple OEM platforms over time.

Negative Factors

Moderate Financial Leverage

A nearly 2:1 debt-to-equity ratio creates interest and refinancing exposure, reducing flexibility to fund growth or absorb shocks. In cyclical downturns, leverage can magnify stress on cash flows and limit the firm's ability to invest in new programs or accelerate deleveraging.

Modest Net Profitability

Despite improving gross margins, low net margin constrains retained earnings and buffer against commodity or price pressure. Sustaining durable returns will require converting operational gains into higher net profitability or improving pricing power with OEMs.

High OEM Dependence and Industry Cyclicality

Revenue and margins are closely linked to OEM program awards and vehicle production cycles. This creates exposure to platform losses or production slowdowns; while diversification helps, the core B2B contract model retains structural sensitivity to OEM demand swings.

JBM Auto Limited Business Overview & Revenue Model

Company Description

JBM Auto Limited manufactures and sells auto components, tools, and buses in India and internationally. It operates through three segments: Sheet Metal Components, Assemblies & Sub-assemblies (Component Division); Tool, Dies & Moulds (Tool Room Division); and OEM Division. The company offers auto components, systems, and assemblies, such as BIW parts, including cross car beams; chassis and suspension systems comprising skin panels; and tools and dies for turnkey projects. It also designs, develops, manufactures, assembles, and sells CNG, diesel, and electric buses, as well as related parts, accessories, and maintenance contracts. The company was incorporated in 1996 and is based in Gurugram, India.

How the Company Makes Money

JBMA makes money primarily by supplying automotive components, assemblies, and systems to vehicle manufacturers (OEMs) and, to a lesser extent, other tiers of the auto supply chain. Its revenue model is largely contract-based B2B manufacturing: it earns sales from (1) production and sale of metal-formed and welded assemblies (e.g., body structures/body-in-white parts and other sheet-metal assemblies) where revenues are typically linked to OEM vehicle production volumes; (2) chassis/suspension and other engineered components supplied per vehicle/platform program; (3) exhaust system products supplied to OEM programs, usually with pricing governed by long-term supply agreements and periodic price adjustments; and (4) seating-related products supplied as modules/parts to OEMs. In addition, it generates revenue from its electric-mobility activities by selling electric buses and/or associated solutions and services to customers such as public transport undertakings or fleet operators, with earnings influenced by tender wins, order execution, and after-sales/service support where applicable. Overall profitability and revenue growth are driven by factors such as OEM platform nominations, production volumes, product mix (value-added assemblies/systems vs. simpler parts), localization and scale efficiencies, commodity/input cost pass-through mechanisms in customer contracts, and the company’s ability to win and execute new programs in both conventional automotive and electric mobility.

JBM Auto Limited Financial Statement Overview

Summary

Strong revenue growth (9.17% from 2024 to 2025) and improving margins (gross margin 32.26%). Cash generation improved materially with free cash flow turning positive and strong operating cash flow vs. net income (1.95x). Balance sheet is stable but moderately leveraged (debt-to-equity 1.95) with modest net margin (3.69%) and ROE (14.95%).

Income Statement

JBM Auto Limited shows strong revenue growth with a consistent upward trajectory over the years. Notably, the revenue grew by 9.17% from 2024 to 2025. The gross profit margin has improved, reaching 32.26% in 2025, indicating efficient cost management. Net profit margin also shows a positive trend, though it remains modest at 3.69%, suggesting room for improvement in profitability. EBIT and EBITDA margins are healthy, reflecting solid operational performance.

Balance Sheet

The balance sheet reflects a robust equity base with stockholders' equity increasing steadily, resulting in a favorable equity ratio of 23.09% as of 2025. The debt-to-equity ratio of 1.95 indicates moderate leverage, which is manageable but worth monitoring. Return on equity is relatively low at 14.95%, suggesting that the company could enhance shareholder returns through more efficient use of equity.

Cash Flow

The cash flow statement shows significant improvement, with the free cash flow turning positive in 2025 and growing substantially from the previous year. The operating cash flow to net income ratio is strong at 1.95, indicating effective cash generation from operations. The free cash flow to net income ratio also improved, highlighting better cash management and potential for reinvestment or debt reduction.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	56.67B	54.76B	50.13B	38.58B	31.94B	19.82B
Gross Profit	15.81B	17.07B	14.03B	10.86B	8.69B	5.70B
EBITDA	7.11B	6.80B	5.85B	4.03B	3.57B	2.13B
Net Income	2.08B	2.02B	1.79B	1.24B	1.56B	493.00M
Balance Sheet
Total Assets	63.27B	58.50B	48.65B	35.38B	32.29B	24.64B
Cash, Cash Equivalents and Short-Term Investments	1.28B	1.94B	666.83M	445.13M	343.56M	180.44M
Total Debt	31.81B	26.30B	21.27B	17.03B	13.88B	8.45B
Total Liabilities	48.70B	44.63B	36.73B	25.07B	23.32B	17.18B
Stockholders Equity	14.17B	13.51B	11.68B	10.30B	8.96B	7.46B
Cash Flow
Free Cash Flow	-4.53B	2.72B	-228.08M	-1.43B	-4.12B	-1.33B
Operating Cash Flow	-3.28B	3.94B	2.05B	4.84B	-1.42B	2.16B
Investing Cash Flow	-521.20M	-5.56B	-4.43B	-6.46B	-2.95B	-3.63B
Financing Cash Flow	3.92B	2.24B	2.48B	1.59B	4.54B	1.40B

JBM Auto Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 640.35
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JBMA, the sentiment is Positive. The current price of 640.35 is above the 20-day moving average (MA) of 533.46, above the 50-day MA of 563.95, and above the 200-day MA of 623.76, indicating a neutral trend. The MACD of -7.85 indicates Negative momentum. The RSI at 55.43 is Neutral, neither overbought nor oversold. The STOCH value of 79.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:JBMA.

JBM Auto Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHRIPISTON	73 Outperform	₹137.66B	28.99	―	0.31%	14.43%	15.60%
MINDACORP	69 Neutral	₹120.22B	39.41	―	0.23%	12.99%	2.43%
LUMAXTECH	66 Neutral	₹106.95B	31.91	―	0.35%	36.70%	36.24%
JBMA	65 Neutral	₹134.36B	67.30	―	0.15%	7.63%	11.25%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
SUPRAJIT	54 Neutral	₹55.13B	126.88	―	0.63%	14.20%	16.80%

JBM Auto Limited Corporate Events

JBM Auto Corrects EPS Error in September 2025 Quarter XBRL Filing

JBM Auto Limited has clarified a discrepancy in its reported consolidated earnings per share (EPS) for the quarter ended 30 September 2025, following a query from the National Stock Exchange regarding its financial results filing. The company stated that while the correct consolidated EPS of Rs 2.23 was accurately disclosed in the PDF version of the results, an inadvertent typographical error in the XBRL submission had shown the EPS figure of Rs 5.67, which pertained to the period ended 31 March 2025. JBM Auto has now submitted revised consolidated XBRL financial results reflecting the correct EPS and emphasized its commitment to full compliance with SEBI regulations and higher diligence in future regulatory filings, aiming to reassure investors and regulators about its governance and reporting standards.

JBM Auto Says Share Volume Surge is Market-Driven, Affirms Full Disclosure Compliance

JBM Auto Limited has clarified that the recent significant increase in trading volumes of its shares is purely market driven and attributable to prevailing market conditions. Responding to a query from the stock exchange, the company stated that it has made all required disclosures under applicable securities regulations, has not withheld any material or price-sensitive information, and remains fully compliant in communicating all significant events to the exchanges, implying no undisclosed corporate developments behind the spike in volumes.