Jay Bharat Maruti Ltd(JAYBARMARU)

NSE: JAYBARMARUBSE: 520066

₹ 115.75-3.46%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,253 crWebsite: www.jbmgroup.comUpdated: 24 Oct 2026

About

Jay Bharat Maruti Ltd is a long-standing Tier-I supplier of automobile components to Maruti Suzuki India Limited, its principal customer, and to other leading OEMs. It makes sheet metal components and assemblies, axles, chassis and suspension systems, exhaust systems, and tools and dies at 07 plants across India. FY26 revenue was Rs 2550.99 cr.^[1][2]

Business segment

As of FY25, the company reported a single segment: manufacturing of components for automobiles.^[3]

Products

As of FY26, products include sheet metal components and assemblies, welded assemblies, front and rear axles, chassis and suspension systems, tools and dies, exhaust systems, fuel fillers, cross-car beams, tubular components and engine mountings.^[1]
In FY26, series production of 1180 MPa structural assemblies began, and hot stamping capability was added for future vehicle programmes.^[1]
In FY26, a spare-door business was started at JBML Gujarat.^[1]
The company says its tool-room is currently the only one in India with the capability and scale to localise skin panel dies and critical BIW and chassis components (FY26 annual report).^[1]

Plants and operations

As of FY26, the company ran 07 plants across India and had 5025 employees.^[1]
As of FY26, the Kharkhoda (Sonipat) plant had a 1,600-ton robotic tandem line, a 1,000-ton progressive line and a weld shop.^[1]
In FY26, the spare parts business was moved to the Pathredi plant in Rajasthan.^[1]
In FY26, there was zero man-day loss from industrial relations.^[1]
In FY26, digital manufacturing work contributed to a 45% reduction in NCR defects and a 73% improvement in internal PPM performance; weld inspection time fell from 2 hours to 7 minutes.^[1]

Key operating numbers

Sheet metal turnover in Q1 FY27 was up 25% compared with Q1 FY26.^[4]
Material cost was 72.53% of income in Q1 FY27.^[4]
Incentives were ₹34.26 cr in Q1 FY27 vs 53.20 Cr in Q1 FY26.^[4]
Management said higher Maruti Suzuki volumes improved capacity utilisation in Q4 FY26 and Q1 FY27.^[5][4]

Customers

As of FY26, Maruti Suzuki India Limited is the principal customer; the company also supplies other leading OEMs as a Tier-I supplier.^[1]
In FY26, the company began supplies for Maruti Suzuki's Brezza model, which moved from Manesar to Kharkhoda.^[1]
Product testing was cleared at the Yorozu Lab in Japan and the MSIL Lab (FY26 annual report).^[1]

Expansion and new capabilities

As of FY26, a 3,000-ton transfer press was planned at the Kharkhoda plant.^[1]
A robotic welding facility at Suzuki Supplier Park was built for Maruti Suzuki's future electric vehicle platforms (FY26 annual report).^[1]
New plants were added, and depreciation rose to 3.85% of income in Q1 FY27 from 3.24% in Q4 FY26.^[4]
In Q1 FY27, the company took steps toward renewable energy to cut energy cost.^[4]
In FY25, the board sought approval to raise up to Rs 750 crore through FPO, preferential issue, NCDs, bonds or CPs for capex.^[3]

Partners and joint venture

As of FY26, the company had no subsidiary and held 49% of the joint venture JBM Ogihara Die Tech Private Limited.^[1]
Technical-assistance partner Yorozu and tooling partners Ogihara and Ohitech support design, tooling and hot stamping work (FY26 annual report).^[1]
The company's first patent was published in Feb 2023, for a contactless laser-sensor system for axle toe and camber.^[1]

Recent developments

Q4 FY26 results included a Rs 36.79 cr gain from remeasuring deferred tax on the move to the 25.17% concessional tax rate, and a Rs 35.50 cr GST incentive accrued for the J5 plant.^[5]
The applicable tax rate falls to 25.17% from 34.94% starting FY27 under the concessional regime.^[5]

Market Cap

₹1,253 Cr

High / Low

₹207 / 75

Stock P/E

9.1

Price / Book

1.8

Book Value

₹64

EPS

₹12.9

No. of Shares

10.82 Cr

ROCE

16.7%

ROE

22.2%

OPM

7.5%

Debt / Equity

0.63

Sales

₹2,551 Cr

Net Profit

₹140 Cr

Promoter holding

59.4%

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