1. Kharkhoda Phase 2 capex - The board approved a ₹170 Cr investment for Phase 2 of the Kharkhoda plant in February 2026, partly funded by ₹40 Cr of unutilised capex from earlier plant approvals. This doubles down on a facility already supplying MSIL's Brezza and designed for next-gen 1180 MPa components, adding capacity alongside the customer's largest upcoming production hub.
2. Gujarat EV weld shop - A state-of-the-art weld shop is installed at the Gujarat plant (J6) specifically to meet Maruti Suzuki's EV production requirements. Commercial production is pending only MSIL's schedule, so the asset sits ready to generate revenue the moment the customer's EV programme ramps.
3. GST incentive at Vithalpur - The J5 Gujarat plant accrued a ₹35.50 Cr GST incentive in Q4 FY26 alone, with a final eligibility certificate expected in FY26. These cash inflows drop straight to revenue and operating profit, providing a multi-year earnings tailwind from an already-operational asset.
4. Tax rate cut to 25.17% - JBML is adopting the concessional Section 115BAA tax regime from 1 April 2026, lowering its effective rate from 34.94% to 25.17%. The shift already triggered a one-time ₹36.79 Cr deferred-tax credit in Q4 FY26 and will mechanically lift reported PAT every year going forward.
5. 1180 MPa assemblies and chassis parts - The company began producing advanced front-frame suspension and lower control arm components in FY25 and invested in capacity for 1180 MPa high-strength BIW assemblies. These higher-spec parts command better realisations and deepen the content per vehicle supplied to MSIL.
6. Tooling localisation for skin panels and ultra-high-tensile dies - JBML has established expertise in localising ultra-high-tensile dies for 1180 MPa parts and skin-panel dies, claiming to be the only Indian toolroom with this capability and scale. Captive tooling reduces dependence on imported dies, cuts costs, and opens a potential revenue stream from other OEMs.
7. JODT stake increase - JBML raised its stake in JBM Ogihara Die Tech to 49% by acquiring 10% from its JV partner for ₹3.14 Cr, while the technology agreement with Ogihara Thailand continues for nearly two more years. Deeper ownership in a captive die-making unit secures the supply of critical BIW dies and lets JBML consolidate more of that margin.