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Indian auto-components maker (sheet metal, tooling) that has become a leading electric-bus manufacturer (JBM Ecolife).
Indian auto-components maker (sheet metal, tooling) that has become a leading electric-bus manufacturer (JBM Ecolife).
Has two businesses: sheet-metal parts and tooling for vehicle makers, sold on component prices, and electric buses, won through government tenders and often paid per kilometre driven under contracts where JBM also runs the fleet. Bus orders arrive as large, lumpy contracts.
Moat: narrow (scale, customer qualification, installed base). Early mover and scale in India's electric-bus tenders, though Tata Motors and Olectra compete for the same contracts.
Headquarters: Faridabad, India · Founded: 1983 · Employees: 11,996
Size JBM Auto (JBMA.NS) is an India Consumer Discretionary company (Auto Parts: OEM) with a market value of $1.24B, the 535th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹495.60 on 6 Nov 2026.
Performance Over six months the shares fell 20.6%, against -16.4% for the median peer and 0.0% for the India market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 15.9% over the last twelve months (peer median +12.2%); the operating margin is 9.0% (peer median 4.8%).
Valuation It trades at 2.2× enterprise value to sales against a peer median of 2.6× (8th cheapest of 21).
Capital Return on invested capital runs 3.3 points below its cost of capital (13.1% WACC).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹65.7B | ₹60.9B | ₹54.7B | ₹50.1B | ₹38.6B |
| Revenue growth | — | +11% | +9% | +30% | — |
| Gross profit | ₹12.6B | ₹9.32B | ₹7.91B | ₹5.68B | ₹3.97B |
| EBITDA | ₹7.64B | ₹7.11B | ₹6.80B | ₹5.84B | ₹4.00B |
| Net income | ₹2.30B | ₹2.19B | ₹2.02B | ₹1.79B | ₹1.24B |
| Free cash flow | n/a | -₹6.11B | ₹213M | -₹1.99B | -₹2.62B |
| Capital expenditure | n/a | ₹3.02B | ₹1.22B | ₹2.28B | ₹6.27B |
| Total debt | ₹28.9B | ₹30.3B | ₹26.3B | ₹21.3B | ₹17.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| JBM Auto JBMA.NS | $1.24B | -21% | +16% | 9% | 2.2× | n/a |
| Tata Motors TMCV.NS | $16.6B | -2% | n/a | 9% | 1.6× | 17.8% |
| Olectra Greentech OLECTRA.NS | $891M | -19% | +38% | 12% | 3.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | JBMA.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.4% | -3.1% | 6th lowest of 21 |
| 6-month return | -20.6% | -16.4% | 7th lowest of 20 |
| Distance from 52-week high | -32.9% | -44.7% | 9th highest of 21 |
| Revenue growth (TTM) | +15.9% | +12.2% | 8th highest of 20 |
| Operating margin | 9.0% | 4.8% | 7th highest of 21 |
| EV / Sales | 2.2× | 2.6× | 8th cheapest of 21 |
| ROIC minus cost of capital | -3.3 pp | +0.7 pp | 8th lowest of 20 |
| EV / EBITDA | 19.0× | 17.4× | 4th cheapest of 7 |
| Net debt / EBITDA | 3.6× | 0.0× | most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JBM Auto JBMA.NS | India | $1.24B | -21% | +16% | 9% | 2.2× | n/a | n/a |
| SKF India (Industrial) SKFINDUS.NS | India | $1.23B | +9% | n/a | 11% | 3.3× | 36.9% | n/a |
| Xiangyang Automobile Bearing 000678.SZ | China | $1.22B | +53% | -3% | -3% | 6.0× | n/a | n/a |
| Adient ADNT | United States | $1.26B | -28% | +4% | 3% | 0.1× | -17.6% | +2.1% |
| Ruifeng Power 2025.HK | Hong Kong | $1.22B | +29% | +4% | 1% | 8.3× | n/a | n/a |
| Hong Leong Asia H22.SI | Singapore | $1.26B | -40% | +17% | 9% | 0.4× | -12.9% | +2.9% |
| Jiangsu Yunyi Electric 300304.SZ | China | $1.27B | -19% | +14% | 17% | 3.0× | 17.1% | +23.4% |
| NASN Intelligent Tech (Zhejiang) 2261.HK | Hong Kong | $1.21B | n/a | +57% | -12% | 14.0× | n/a | n/a |
| Sichuan Chengfei Integration Technology 002190.SZ | China | $1.20B | -24% | +9% | -1% | 3.7× | n/a | n/a |
| Varroc Engineering VARROC.NS | India | $1.28B | +40% | +22% | 6% | 1.3× | 29.9% | +15.1% |
| F.C.C.Co 7296.T | Japan | $1.20B | +20% | +10% | 8% | 0.5× | -7.1% | +12.3% |
| ASK Automotive ASKAUTOLTD.NS | India | $1.28B | +35% | +39% | 9% | 2.5× | n/a | n/a |
| Longhorn Auto 301488.SZ | China | $1.29B | -32% | +34% | 2% | 3.5× | n/a | n/a |
| Zhejiang Shibao 002703.SZ | China | $1.29B | -20% | +16% | 4% | 2.1× | 41.6% | +26.5% |
| Zhejiang Wanliyang 002434.SZ | China | $1.19B | -13% | -30% | -10% | 2.2× | n/a | n/a |
| Zhejiang Fenglong Electric 002931.SZ | China | $1.30B | -31% | +2% | 0% | 15.9× | n/a | n/a |
| Zhejiang EV-Tech 301607.SZ | China | $1.18B | -7% | +60% | 6% | 1.4× | 24.2% | +35.3% |
| Wuxi Best Precision Machinery 300580.SZ | China | $1.32B | -40% | +12% | 16% | 5.0× | 20.8% | +10.1% |
| Kunshan Huguang Auto Harness 605333.SS | China | $1.32B | -16% | -2% | 2% | 1.4× | n/a | n/a |
| Kuangda Technology 002516.SZ | China | $1.16B | -13% | +3% | 12% | 2.7× | 9.3% | +9.0% |
| Wuxi Zhenhua Auto Parts 605319.SS | China | $1.16B | -18% | +13% | 20% | 2.6× | -4.7% | +16.0% |