Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹15,080Cr
Rev Gr TTM
Revenue Growth TTM
10.71%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

JBMA
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -5.8 | 9.4 | 19.6 | 41.3 | 47.1 | 20.9 | 4.5 | 3.7 | 10.8 | 9.6 | 6.4 | 15.6 |
| 903 | 831 | 1,091 | 1,190 | 1,314 | 1,005 | 1,121 | 1,221 | 1,449 | 1,114 | 1,212 | 1,441 |
Operating Profit Operating ProfitCr |
| 10.6 | 12.2 | 11.3 | 11.6 | 11.6 | 12.2 | 12.8 | 12.5 | 12.0 | 11.1 | 11.4 | 10.7 |
Other Income Other IncomeCr | 2 | 2 | 10 | 6 | 12 | 0 | 3 | 11 | 5 | 21 | 33 | 21 |
Interest Expense Interest ExpenseCr | 35 | 39 | 48 | 54 | 55 | 52 | 60 | 68 | 67 | 66 | 70 | 74 |
Depreciation DepreciationCr | 38 | 40 | 41 | 43 | 48 | 43 | 43 | 44 | 44 | 44 | 44 | 42 |
| 37 | 38 | 60 | 66 | 82 | 45 | 65 | 73 | 90 | 51 | 74 | 77 |
| 8 | 8 | 11 | 14 | 19 | 11 | 12 | 16 | 18 | 12 | 19 | 17 |
|
Growth YoY PAT Growth YoY% | -66.9 | 16.8 | 34.8 | 50.7 | 120.0 | 10.8 | 7.6 | 8.4 | 15.3 | 16.4 | 5.0 | 6.3 |
| 2.8 | 3.2 | 4.0 | 3.9 | 4.2 | 2.9 | 4.1 | 4.0 | 4.4 | 3.1 | 4.0 | 3.7 |
| 1.2 | 1.3 | 1.9 | 2.1 | 2.4 | 1.4 | 1.0 | 2.2 | 2.8 | 1.6 | 2.2 | 2.3 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| 14.2 | -2.5 | -1.1 | 8.8 | 9.4 | 9.0 | 1.8 | 61.1 | 20.8 | 29.9 | 9.2 | 7.5 |
| 1,366 | 1,328 | 1,336 | 1,429 | 1,576 | 1,717 | 1,778 | 2,850 | 3,459 | 4,425 | 4,796 | 5,216 |
Operating Profit Operating ProfitCr |
| 12.3 | 12.5 | 11.0 | 12.5 | 11.8 | 11.8 | 10.3 | 10.8 | 10.3 | 11.7 | 12.4 | 11.3 |
Other Income Other IncomeCr | 6 | 6 | 35 | 24 | 36 | 16 | 5 | 11 | 27 | 30 | 18 | 79 |
Interest Expense Interest ExpenseCr | 35 | 53 | 53 | 49 | 49 | 64 | 55 | 76 | 126 | 197 | 247 | 277 |
Depreciation DepreciationCr | 40 | 59 | 50 | 56 | 58 | 74 | 76 | 91 | 130 | 171 | 175 | 175 |
| 122 | 85 | 97 | 124 | 140 | 108 | 78 | 187 | 170 | 246 | 273 | 293 |
| 30 | 22 | 25 | 43 | 49 | 38 | 29 | 31 | 44 | 52 | 59 | 67 |
|
| 62.5 | -32.1 | 14.3 | 12.8 | 12.2 | -23.9 | -28.8 | 217.2 | -20.0 | 54.8 | 10.8 | 5.4 |
| 6.0 | 4.2 | 4.8 | 5.0 | 5.1 | 3.6 | 2.5 | 4.9 | 3.2 | 3.9 | 3.9 | 3.9 |
| 3.6 | 2.5 | 3.2 | 3.5 | 4.2 | 2.9 | 2.1 | 6.6 | 5.3 | 7.6 | 8.5 | 8.9 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 20 | 20 | 20 | 20 | 20 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| 280 | 323 | 336 | 397 | 477 | 680 | 722 | 870 | 1,003 | 1,144 | 1,327 | 1,394 |
Current Liabilities Current LiabilitiesCr | 614 | 854 | 706 | 671 | 814 | 1,000 | 1,372 | 1,723 | 1,739 | 2,820 | 3,095 | 3,584 |
Non Current Liabilities Non Current LiabilitiesCr | 264 | 236 | 224 | 273 | 241 | 306 | 347 | 609 | 770 | 853 | 1,369 | 1,286 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 518 | 725 | 630 | 699 | 842 | 962 | 1,122 | 1,696 | 1,571 | 2,627 | 3,308 | 3,748 |
Non Current Assets Non Current AssetsCr | 736 | 794 | 720 | 736 | 792 | 1,047 | 1,342 | 1,533 | 1,970 | 2,238 | 2,542 | 2,580 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 66 | 145 | 119 | 69 | 119 | 370 | 216 | -142 | 484 | 205 | 394 |
Investing Cash Flow Investing Cash FlowCr | -200 | -116 | -65 | -61 | -104 | -123 | -363 | -295 | -646 | -443 | -556 |
Financing Cash Flow Financing Cash FlowCr | 138 | -34 | -57 | -8 | -6 | -236 | 140 | 454 | 159 | 248 | 224 |
|
Free Cash Flow Free Cash FlowCr | -132 | 29 | 54 | 15 | 33 | 249 | -131 | -409 | -134 | -19 | 281 |
| 71.6 | 230.8 | 165.3 | 85.3 | 130.7 | 534.3 | 438.0 | -90.7 | 386.9 | 105.7 | 183.5 |
CFO To EBITDA CFO To EBITDA% | 34.8 | 76.4 | 72.2 | 34.0 | 56.5 | 160.7 | 105.8 | -41.4 | 121.6 | 35.1 | 58.2 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 892 | 614 | 1,135 | 1,555 | 1,085 | 654 | 1,988 | 5,170 | 7,622 | 21,337 | 13,937 |
Price To Earnings Price To Earnings | 12.2 | 12.2 | 15.8 | 22.1 | 11.1 | 9.5 | 40.3 | 33.1 | 61.3 | 119.3 | 69.0 |
Price To Sales Price To Sales | 0.6 | 0.4 | 0.8 | 0.9 | 0.5 | 0.3 | 1.0 | 1.6 | 2.0 | 4.3 | 2.5 |
Price To Book Price To Book | 3.0 | 1.8 | 3.2 | 3.7 | 1.7 | 0.9 | 2.7 | 5.8 | 7.4 | 18.3 | 10.3 |
| 6.9 | 5.6 | 9.6 | 10.1 | 7.7 | 5.1 | 13.8 | 19.0 | 23.3 | 40.1 | 24.2 |
Profitability Ratios Profitability Ratios |
| 29.0 | 32.7 | 29.9 | 30.2 | 29.1 | 30.4 | 30.3 | 28.4 | 29.6 | 29.1 | 32.3 |
| 12.3 | 12.5 | 11.0 | 12.5 | 11.8 | 11.8 | 10.3 | 10.8 | 10.3 | 11.7 | 12.4 |
| 6.0 | 4.2 | 4.8 | 5.0 | 5.1 | 3.6 | 2.5 | 4.9 | 3.2 | 3.9 | 3.9 |
| 21.2 | 17.3 | 18.5 | 18.8 | 18.2 | 13.8 | 8.4 | 11.5 | 10.8 | 13.4 | 13.1 |
| 30.8 | 18.3 | 20.2 | 19.4 | 18.3 | 9.8 | 6.6 | 17.5 | 12.2 | 16.6 | 15.9 |
| 7.4 | 4.1 | 5.3 | 5.7 | 5.6 | 3.5 | 2.0 | 4.8 | 3.5 | 4.0 | 3.7 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
JBM Auto Ltd., a flagship company of the $3.3 billion JBM Group, is a leading Indian multinational with a global footprint across 37 countries. Established as a pioneer in the automotive and electric mobility sectors, JBM Auto has evolved from a component manufacturer into a vertically integrated e-mobility ecosystem provider. The company operates in five core business verticals:
- Auto Components & Systems
- Tools & Dies (Tooling)
- Electric & CNG Buses
- EV Aggregates (Batteries, Drivetrains)
- Electric Mobility-as-a-Service (eMaaS)
JBM Auto is now globally recognized as a leader in sustainable transportation, with a strategic focus on innovation, localization, and end-to-end integrated solutions.
---
### **Key Developments (August 2025 – September 2025)**
#### 🔹 **UAE E-Mobility Expansion via Al Habtoor Motors (September 2025)**
- JBM Electric Vehicles has partnered with **Al Habtoor Motors**, the UAE’s exclusive distributor for Bentley, Bugatti, Rimac, and Mitsubishi, to distribute JBM’s electric buses across the UAE.
- The deployment spans **urban transit, staff, school, intercity tourist coaches, and airport tarmac buses**.
- The buses feature:
- Advanced lithium-ion batteries (LFP chemistry)
- Smart charging systems
- Enhanced safety & durability for harsh Gulf climates
- This **turnkey e-mobility solution** combines vehicles, charging infrastructure (ECOFUEL), and leasing services through **JBM E-Verse**, aiming to position both firms among the **top 2 e-mobility providers in the Middle East**.
#### 🔹 **Global E-Mobility Leadership & Scale (September 2025)**
- JBM EV operates one of the **world’s largest integrated electric bus manufacturing facilities** outside China, located in **Banchari, Delhi-NCR**, with an **annual capacity of 20,000 units**.
- The company's e-buses have achieved:
- **200+ million km cumulative travel**
- Transported **over 1 billion passengers**
- **Saved 350 million liters of diesel and 1 million+ metric tons of CO₂**
- Target: **3 billion km traveled globally within 3 years**.
#### 🔹 **JBM E-Verse: India’s First Full-Stack E-Mobility Platform**
- **JBM E-Verse** is the company’s proprietary end-to-end e-mobility ecosystem, integrating:
- Electric vehicles (EVs)
- In-house developed **lithium-ion batteries (ECOBOLT)**
- High-voltage **fast charging infrastructure (ECOFUEL)**
- AI-powered predictive maintenance and fleet management
- Features include:
- Monocoque stainless-steel bus bodies
- ADAS, AI diagnostics, and regenerative braking
- Permanent Magnet Synchronous Motors (PMSM)
- CCS2 charging compatibility
- Over **1,000 DC fast chargers** deployed in India, with **100% uptime** enabled by 24x7 monitoring, remote diagnostics, and cloud-based management.
#### 🔹 **Battery Innovation & Energy Storage Leadership**
- **JBM Green Energy Systems (JBMG)** operates **India’s largest 6 GWh lithium-ion battery plant** in Bawal, producing **modular, intelligent battery packs** with:
- Advanced thermal management
- Real-time diagnostics from **1.2 million+ daily data points**
- AI-driven battery health monitoring
- The battery segment supports not only buses but also **Battery Energy Storage Systems (BESS)**, with a **3 GWh order book**, including a **1 GWh BESS contract with SJVN Ltd.**
- Focus on **Battery-as-a-Service (BaaS)** and **second-life battery applications** in collaboration with **Hitachi ZeroCarbon**.
#### 🔹 **International Expansion & Strategic Alliances**
- **European headquarters operational in Frankfurt (Germany)**, supporting sales, aftersales, and EU-specific deployments.
- Targets **left-hand drive (LHD) markets** in Germany, France, Greece, Italy, and Scandinavia.
- Strategic partnerships with **FlixBus, Hitachi ZeroCarbon, MUON India (Macquarie), and Al Habtoor Motors** to deploy over **100+ e-buses internationally**.
- Entered **Australia and APAC** via fleet leasing and localized assembly models.
- Exhibited globally at **Busworld Brussels, Bus to Bus Berlin, and MENA Transport Congress**, showcasing **GALAXY luxury electric coach** and **ECOLIFE city bus**.
#### 🔹 **Product Innovation & Market Expansion**
- **India’s first fully indigenously manufactured electric bus: ECOLIFE**
- **JBM Galaxy**: India’s first **electric luxury sleeper coach** with:
- 1,000 km operational range
- 47-seater capacity
- Reclining seats, ADAS, and premium ergonomics
- Expanded portfolio includes:
- 10 electric bus platforms
- 18 models
- 23 variants across city, intercity, school, staff, airport, and luxury segments
- Flagship models:
- **ECOLIFE e9**: 300 km range, 42 seats
- **ECOLIFE e12**: 12m city bus, 300–400 km range, wheelchair accessible
- **LeafyBus**: India’s first luxury intercity electric bus service
---
### **Market Position & Financial Performance (FY 2024–25)**
- **Revenue**: ₹5,472 crores | **EBITDA**: ₹730 crores
- **Debt-to-Equity**: 1.9 | **CRISIL Rating**: A (Stable)
- **Market Share Leadership**:
- **30%+** in India’s overall e-bus market
- **Over 90%** in airport tarmac e-bus segment
- **40–45%** in luxury coach segment
- **~30%** in city and STU e-bus segments
- **Order Pipeline**: Over **11,000 electric buses deployed or under execution**, including:
- **2,411 e-buses** under **PM e-Bus Sewa Scheme** (value: ₹12,900 crores)
- **650 e-buses** funded by **$100 million from ADB & AIIB** under GCC model
---
### **Sustainability & Strategic Impact**
- **Environmental Impact (Cumulative)**:
- **200+ million e-km**
- **1 billion passengers served**
- **350 million+ liters of diesel saved**
- **1 million+ metric tons of CO₂ avoided**
- **Future Targets**:
- **3 billion e-km** by 2028
- **20 billion passenger touchpoints**
- **Policy Alignment**:
- Major beneficiary of **FAME-II**, **PM e-Bus Sewa**, and **PM E-DRIVE**
- GCC model reduces upfront costs for state transport agencies, ensuring scalable adoption
---
### **Operational Excellence & R&D**
- **Tooling Division**:
- **India’s largest auto tooling business**, with 3 plants and 25% capacity increase (1,250 dies/year)
- Supplied **20,000+ dies, 2,000+ welding fixtures** for **>60 vehicle platforms**, enabling production of **15+ million vehicles**
- Exclusive technical partner with **IJS Korea** for **hot stamping dies** (up to 1,180 MPa)
- **R&D & Innovation**:
- **DSIR-certified centers** with advanced CAE, simulation, and digital twin capabilities
- Focus on **lightweighting**, **AI diagnostics**, **ADAS**, and **electronic stability control**
- Investment in **frugal engineering, Industry 4.0, IoT, and predictive analytics**
- **In-House Capabilities**:
- Full-cycle EV platform design
- Vehicle Control Units (VCU), Electric Axles, PDU, BMS
- ECOFUEL charging network (cloud-based, modular, scalable)
---
### **Global Footprint & Manufacturing**
- **12 manufacturing units** in India (Faridabad, Pune, Sanand, Chennai, Noida, etc.)
- **International subsidiaries** in:
- UAE (JBM Electric Vehicle Trading ME)
- Germany (Europe HQ)
- Singapore (APAC HQ)
- **Integrated EV Manufacturing Facility (4 million sq ft)**:
- Fully digitalized with **MES, robotic painting, conveyorized flow lines**
- On-site **test track** with gradients (7°, 10.2°), water wading, PAVE simulation
- Dedicated **prototyping, R&D, suppliers' park**
---
### **Management & Leadership**
- **Leadership**: **Mr. Nishant Arya** (Managing Director) — driving EV diversification, innovation, and global expansion.
- **Workforce Development**: Over **8,000 skilled personnel trained** through JBM’s **Skill Development Centres**.
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