Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

Jay Bharat Maruti Ltd

JAYBARMARU
Auto Ancillaries - Diversified

Jay Bharat Maruti Ltd is cheap for a reason. The P/E sits at the 6th percentile of its own range, and the quarters are still getting worse.

The sharpest disagreement: annual EPS moved +324.3% against a +23.1% price move — the market has not yet caught up with the delivery.

The price is in a confirmed uptrend (16 weeks in) while the P/E sits at the 6th percentile of its own 7-year range. Underneath, the last four quarters read deteriorating — profit −4.3% year on year, and 285% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Improving
partial read
Price
₹117
+23.1% 1Y
P/E
9.1×
6th pctile
of its own 7-year range
Revenue (Jun 26)
₹627 Cr
+12.6% YoY
Profit (Jun 26)
₹22.0 Cr
−4.3% YoY
Operating margin
10.0%
−2.0 pp YoY
ROCE
17%
FY26
ROIC
15.3%
vs WACC 12.0% → +3.3 pp
Cash conversion
285%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Jay Bharat Maruti Ltd trades at ₹117, in a confirmed uptrend and 16 weeks into that stage. That is −3.1% against its own 200-day average. It sits at 34% of a 52-week range of ₹81 to ₹188. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a confirmed uptrend — week 16 of stage 2, confirmed. At ₹117 it trades −3.1% versus its 200-day average and sits at 34% of its 52-week range (₹81–₹188).

Sep 26: ₹117 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−3.1% versus the 200-day line, week 16 of stage 2
Price50-day avg200-day avg
S2S4S2S2₹198₹160₹122₹84.2₹46.1₹117₹120Sep 23Jun 24Mar 25Jan 26Sep 26
S2S4S2S2₹198₹160₹122₹84.2₹46.1₹117₹120Sep 23Mar 25Sep 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (557 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Feb 16Sep 26

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +390% while the NIFTY 500 moved +273% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-07-31) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Jay Bharat Maruti Ltd trades at 9.1× P/E, near the bottom of its own range — cheaper only 6% of the time. Its long-run median P/E is 19.8×, measured across 7.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 9.1× is near the bottom of its own range — cheaper only 6% of the time, against a long-run median of 19.8× measured over 7.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

One caveat before moving on: margins are the best this company has ever printed — cheap against its own history on record margins is not the same thing as cheap. If profitability mean-reverts, today's multiple is higher than it looks.

P/E 9.1× vs a 19.8× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 7.4-year window; loss-period spikes above 59× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
near the bottom of its own range — cheaper only 6% of the time
P/EMedianEPS (TTM) (quarterly)
63.5×₹14.048.3×₹10.533.1×₹7.017.9×₹3.52.7×₹0.0×9.10×₹13Apr 19Apr 21Feb 23Dec 24Sep 26
63.5×₹14.048.3×₹10.533.1×₹7.017.9×₹3.52.7×₹0.0×9.10×₹13Apr 19Feb 23Sep 26
P/E
9.1×
6th percentile of 7y

Why the multiple sits where it does: over the past year annual EPS moved +324.3% against a +23.1% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +9.2%/yr price move, ~+22.4%/yr came from earnings growth and ~−13.2 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

03 · What the price assumes

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 13 June 2026 price, Jay Bharat Maruti Ltd was paying for profit growth of about 11.7% a year. Profit itself has compounded 15.2% a year over the past 7 years. Today the market pays 9.1× P/E, the 6th percentile of its own 7-year range.

What the two numbers say together. The multiple is low against its own past, and the growth the price is paying for is close to what this company has actually delivered.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

04 · Stage: Improving

Stage: Improving Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Jay Bharat Maruti Ltd reads as improving on its fundamental arc. Improving — profit growth bottomed 6 quarters ago at −25.7% and has held its recovery at +170.6%, ROCE lifting at 17.0%. The read is built from 8 quarters across 4 curves, on partial evidence.

Growth, year by year: revenue +11.4% in FY26, profit +324.2% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
43%328%27%227%11%127%−5.2%27%−21%−74%%%11.4%300%FY19FY22FY26
43%328%27%227%11%127%−5.2%27%−21%−74%%%11.4%300%FY19FY22FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating, profit accelerating
RevenueProfitEPS
15%327%9.4%230%4.1%133%−1.2%36%−6.6%−61%%%13.3%170.6%172.3%Sep 23Dec 24Jun 26
15%327%9.4%230%4.1%133%−1.2%36%−6.6%−61%%%13.3%170.6%172.3%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
18%15%13%9.9%7.3%%17%FY23FY24FY26
18%15%13%9.9%7.3%%17%FY23FY24FY26
Revenue growth
Rising
latest +13.3% · span −5.1% to +13.3%
Profit growth
Rising
latest +170.6% · span −34.3% to +321.2%
EPS growth
Rising
latest +172.3% · span −33.1% to +324.3%
ROCE
Rising
latest 17.0% · span 8.0%–17.0%

Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+11.4%+2.9%+11.2%
Profit+324.2%+54.4%+40.0%
EPS+324.3%+54.5%+39.8%
Share price+23.1%+0.7%+9.2%+11.7%
Revenue YoY (Jun 26)
+12.6%
latest quarter vs a year ago
Profit YoY (Jun 26)
−4.3%
latest quarter vs a year ago
Revenue 10y
3.6%
long-run compound pace
05 · 4-Factor Sector Score

4-Factor Sector Score

56.6/100 — rank 8 of 20 in Auto Ancillaries - Diversified · 87% evidence confidence

Jay Bharat Maruti Ltd scores 56.6 out of 100 against the 20 companies it is compared with in Auto Ancillaries - Diversified, ranking 8. Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -9.2% and the one-year return is 19.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

The four contributions add to the total exactly: 23.1 + 13.1 + 14.8 + 5.6 = 56.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

06 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Jay Bharat Maruti Ltd reported ₹627 Cr of revenue in the Jun 26 quarter, +12.6% year on year. That is the 7th straight quarter of year-on-year growth. Over 7 years it has compounded at 3.6% a year. The last full year, FY26, came in at ₹2,551 Cr. The last four reported quarters add to ₹2,621 Cr.

FY26 revenue came in at ₹2,551 Cr (+11.4% on the year), capping 7 years at 3.6% compound. The latest quarter (Jun 26) printed ₹627 Cr, +12.6% year on year — the 7th consecutive quarter of year-over-year growth.

FY26 revenue ₹2,551 Cr (+11.4% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 8-year window. A bar is red when it is lower than the year before.
3.6% a year over 7 years
RevenueYoY growth
2.8k43%2.1k27%1.4k11%689−5.2%0−21%₹ Cr%₹2,55111.4%FY19FY22FY26
2.8k43%2.1k27%1.4k11%689−5.2%0−21%₹ Cr%₹2,55111.4%FY19FY22FY26
Jun 26: ₹627 Cr (+12.6% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
7th straight quarter of growth
Revenue (quarterly)YoY growth
82728%62018%4147.1%207−3.4%0−14%₹ Cr%₹62712.6%Sep 23Dec 24Jun 26
82728%62018%4147.1%207−3.4%0−14%₹ Cr%₹62712.6%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +13.0% growth against the decade's 3.6% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +13.3% over the last 4 quarters against +6.9%/yr over the last 8 — accelerating; TTM profit +170.6% vs +107.7%/yr — accelerating.

07 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Jay Bharat Maruti Ltd's operating margin is 10.0% in the Jun 26 quarter, −2.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 8 fiscal years the operating margin has ranged 7.0% to 11.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 10.0%, −2.0 pp against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 7.0%–11.0%, and FY26's 11.0% is the top of that band — a record year.

🚨 Why the margin moved: operating margin went −1.8 pp year on year while gross margin went −0.1 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

FY26: 11.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 8-year window.
the widest a 7.0–11.0% band over 8 years
operating marginYoY change (pp)
11%4.5%10%2.7%9.0%1.0%7.8%−0.7%6.7%−2.5%%%11%4%FY19FY22FY26
11%4.5%10%2.7%9.0%1.0%7.8%−0.7%6.7%−2.5%%%11%4%FY19FY22FY26
Jun 26: 10.0% operating margin (−2.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
12%5.6%11%3.5%9.0%1.5%7.3%−0.5%5.5%−2.6%%%10%−2%Sep 23Dec 24Jun 26
12%5.6%11%3.5%9.0%1.5%7.3%−0.5%5.5%−2.6%%%10%−2%Sep 23Dec 24Jun 26
08 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Jay Bharat Maruti Ltd earned ₹22.0 Cr of net profit in the Jun 26 quarter, −4.3% year on year. Full-year FY26 profit was ₹140 Cr. The 7-year compound rate is 15.2%. That is 3.5% of the quarter's revenue. The same quarter a year earlier earned ₹23.0 Cr.

Jun 26 profit was ₹22.0 Cr, −4.3% year on year. On the full year, FY26 printed ₹140 Cr (+324.2%), and the 7-year compound rate is 15.2%.

FY26 profit ₹140 Cr (+324.2% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 8-year window. A bar is red when it is lower than the year before.
15.2% a year over 7 years
Net profitYoY growth
151354%113246%76139%3832%0−76%₹ Cr%₹140324.2%FY19FY22FY26
151354%113246%76139%3832%0−76%₹ Cr%₹140324.2%FY19FY22FY26
Jun 26: ₹22.0 Cr (−4.3% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
86545%65381%43217%2252%0−112%₹ Cr%₹22−4.3%Sep 23Dec 24Jun 26
86545%65381%43217%2252%0−112%₹ Cr%₹22−4.3%Sep 23Dec 24Jun 26

🚨 Why profit moved: revenue contributed +12.6% and the margin −2.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit +281.7% vs revenue +13.0%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

09 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 285% of Jay Bharat Maruti Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹197 Cr of operating cash against ₹140 Cr of profit. After ₹148 Cr of capital spending, ₹49.0 Cr was left as free cash.

FY26: operating cash of ₹197 Cr against reported profit of ₹140 Cr, leaving free cash of ₹49.0 Cr after ₹148 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 285% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹197 Cr vs profit ₹140 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 8-year window, annual resolution.
285% of 3-year profit arrived as cash
Operating cashNet profitFree cash
22014570−6−81₹ Cr₹197₹140₹49FY19FY22FY26
22014570−6−81₹ Cr₹197₹140₹49FY19FY22FY26
FY26: CFO = 141% of profit (three-year rate 285%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
316%258%200%142%84%%141%FY19FY22FY26
316%258%200%142%84%%141%FY19FY22FY26

Why conversion sits at 285%: the cash cycle stretched 14 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: the bigger cash user is investment — capital spending ran 2.4× depreciation over three years, so the next section's job is to check what that build-out is buying.

10 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Jay Bharat Maruti Ltd's cash conversion cycle runs 12 days in FY26, up from −2 days in FY21. Capital spending ran ₹642 Cr over the last 3 years. At FY26 sales of ₹2,551 Cr each day of that cycle holds about ₹7.0 Cr, so roughly ₹84.0 Cr sits inside the business at any moment.

FY26: debtors at 17 days, inventory at 52 days — roughly 1.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 12 days, looser than FY21's −2.

The full loop: cash goes out to suppliers and production on day 0; stock waits 52 days to sell; customers pay about 17 days after that; and suppliers themselves are paid at 57 days — netting out to the 12-day cycle.

In money terms: at FY26 sales of ₹2,551 Cr, each day of the cycle holds about ₹7.0 Cr — so the 12-day loop keeps roughly ₹84.0 Cr sitting inside the business at any moment.

FY26: a 12-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 8-year window.
+14 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
74533313−8days12d52d17d57dFY19FY20FY22FY24FY26
74533313−8days12d52d17d57dFY19FY22FY26

On the investment side: capital spending of ₹642 Cr over the last 3 fiscal years against ₹263 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹110 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹148 Cr, work-in-progress ₹110 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
333249166830₹ Cr₹148₹110FY20FY21FY23FY24FY26
333249166830₹ Cr₹148₹110FY20FY23FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

11 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Jay Bharat Maruti Ltd earns a ROCE of 17% in FY26. That is up from a trough of 8% in FY25. Return on invested capital clears the cost of that capital by +3.3 percentage points, so growth here adds value rather than only size. The wiring behind it is 5.5% net margin on 1.39× asset turns.

FY26 ROCE is 17%, recovered from a FY25 trough of 8% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 5.5% net margin × 1.39× asset turns × 2.63× balance-sheet leverage ≈ 20.1% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 15.3% − 12.0% = a +3.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.

FY26: ROCE 17% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 7-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY25's 8%
ROCEROIC (annual)WACC
18%15%11%7.7%4.3%%17%15.6%FY20FY23FY26
18%15%11%7.7%4.3%%17%15.6%FY20FY23FY26
Q4 FY26: ROCE 15.5% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
16%13%10%6.8%3.6%%15.5%9.6%Q1 FY24Q2 FY25Q4 FY26
16%13%10%6.8%3.6%%15.5%9.6%Q1 FY24Q2 FY25Q4 FY26
12 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Jay Bharat Maruti Ltd carries total debt of ₹531 Cr against shareholder equity of ₹696 Cr as of Mar 26, a debt-to-equity of 0.76. On the annual view that ratio went from 0.80 in FY22 to 0.76 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹531 Cr against shareholder equity of ₹696 Cr — a debt-to-equity of 0.76. On the annual view, debt-to-equity went from 0.80 (FY22) to 0.76 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹531 Cr at 0.76× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
5831.0×4370.9×2920.8×1460.7×00.6×₹ Cr×₹5310.76×FY22FY24FY26
5831.0×4370.9×2920.8×1460.7×00.6×₹ Cr×₹5310.76×FY22FY24FY26
Mar 26: debt ₹531 Cr, debt-to-equity 0.76 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
6651.0×4990.9×3330.8×1660.7×00.6×₹ Cr×₹5310.76×Jun 23Sep 24Mar 26
6651.0×4990.9×3330.8×1660.7×00.6×₹ Cr×₹5310.76×Jun 23Sep 24Mar 26
13 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Jay Bharat Maruti Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.0 points over the same window, to 59.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: +0.5 points over 8 quarters to 1.3%; Promoters: +0.0 points over 8 quarters to 59.4%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

Fiscal-year ends: promoters +0.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
64%47%30%12%−4.7%%59.4%1.3%0.0%39.3%Mar 24Mar 25Mar 26
64%47%30%12%−4.7%%59.4%1.3%0.0%39.3%Mar 24Mar 25Mar 26
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
64%47%30%12%−4.7%%59.4%1.3%0.0%39.3%Jun 23Dec 24Jun 26
64%47%30%12%−4.7%%59.4%1.3%0.0%39.3%Jun 23Dec 24Jun 26
14 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Jay Bharat Maruti Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

15 · Related companies · Auto Ancillaries - Diversified
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Lumax Auto Technologies LtdLUMAXTECH 77.7/100Favorable setup100% evidence BREAKING OUT 31.2/35 Revenue 33.3% · PAT 58.3% · OPM change 2 pp 100% evidence 17.9/25 ROCE 21.2% · OPM 14% 100% evidence 11.6/20 P/E 41× · PEG 0.75 100% evidence 17.0/20 RS sector 7.7% · RS bench 29.4% · 1Y 86.6%5 of 12 weeks ahead 100% evidence
Exact sum: 31.2 + 17.9 + 11.6 + 17 = 77.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2S J S Enterprises LtdSJS 72.1/100Favorable setup100% evidence LEADER 29.6/35 Revenue 28.6% · PAT 67.5% · OPM change 2 pp 100% evidence 20.4/25 ROCE 28.6% · OPM 29% 100% evidence 10.1/20 P/E 39.8× · PEG 0.89 100% evidence 12.0/20 RS sector 6.9% · RS bench 27.6% · 1Y 67.8%12 of 12 weeks ahead 100% evidence
Exact sum: 29.6 + 20.4 + 10.1 + 12 = 72.1 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3OBSC Perfection LtdOBSCP 66.2/100Favorable setup80% evidence LEADER 21.9/35 Revenue 37.8% · PAT 46.2% · OPM change 0 pp 95% evidence 15.6/25 ROCE 19.5% · OPM 17.9% 95% evidence 8.7/20 P/E 78.8× · PEG — 15% evidence 20.0/20 RS sector 93.6% · RS bench 126% · 1Y 185.3%12 of 12 weeks ahead 100% evidence
Exact sum: 21.9 + 15.6 + 8.7 + 20 = 66.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Sansera Engineering LtdSANSERA 64.4/100Mixed-positive evidence100% evidence LEADER 26.6/35 Revenue 23.5% · PAT 52.2% · OPM change 2 pp 100% evidence 12.0/25 ROCE 14.5% · OPM 19% 100% evidence 7.2/20 P/E 69.2× · PEG 1.28 100% evidence 18.6/20 RS sector 49% · RS bench 75.4% · 1Y 202.8%12 of 12 weeks ahead 100% evidence
Exact sum: 26.6 + 12 + 7.2 + 18.6 = 64.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Carraro India LtdCARRARO 59.7/100Mixed-positive evidence93% evidence TURNING 23.7/35 Revenue 26.3% · PAT 47.8% · OPM change -2 pp 100% evidence 15.8/25 ROCE 29.3% · OPM 8% 100% evidence 15.9/20 P/E 21.9× · PEG 0.42 65% evidence 4.3/20 RS sector -14.1% · RS bench 3.7% · 1Y 24.4%3 of 12 weeks ahead 100% evidence
Exact sum: 23.7 + 15.8 + 15.9 + 4.3 = 59.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14.1% and the one-year return is 24.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
6Automobile Corporation Of Goa LtdACGL 57.1/100Mixed-positive evidence76% evidence 20.6/35 Revenue 29.7% · PAT 11.5% · OPM change -6 pp 95% evidence 16.6/25 ROCE 29.6% · OPM 5% 76% evidence 13.0/20 P/E 18× · PEG — 50% evidence 6.9/20 RS sector -8.3% · RS bench -3.6% · 1Y -15.3%0 of 12 weeks ahead 70% evidence
Exact sum: 20.6 + 16.6 + 13 + 6.9 = 57.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Bosch LtdBOSCHLTD 56.8/100Mixed-positive evidence82% evidence LEADER 15.9/35 Revenue 13.6% · PAT -11.4% · OPM change 1 pp 95% evidence 17.6/25 ROCE 21.5% · OPM 14% 76% evidence 6.3/20 P/E 60.4× · PEG — 50% evidence 17.0/20 RS sector 6.7% · RS bench 28.1% · 1Y 18.3%12 of 12 weeks ahead 100% evidence
Exact sum: 15.9 + 17.6 + 6.3 + 17 = 56.8 · Decision use: Price leads the evidence: RS versus the benchmark is 28.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
8Jay Bharat Maruti Ltdthis pageJAYBARMARU 56.6/100Mixed-positive evidence87% evidence FADING 23.1/35 Revenue 13.3% · PAT 100% · OPM change -2 pp 95% evidence 13.1/25 ROCE 16.6% · OPM 10% 95% evidence 14.8/20 P/E 9.1× · PEG — 50% evidence 5.6/20 RS sector -9.2% · RS bench 7.8% · 1Y 19.5%9 of 12 weeks ahead 100% evidence
Exact sum: 23.1 + 13.1 + 14.8 + 5.6 = 56.6 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -9.2% and the one-year return is 19.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
9Minda Corporation LtdMINDACORP 56.5/100Mixed-positive evidence94% evidence BREAKING OUT 26.3/35 Revenue 26.6% · PAT 94.9% · OPM change 0 pp 100% evidence 8.8/25 ROCE 12.7% · OPM 11% 100% evidence 8.7/20 P/E 41.8× · PEG 1.58 100% evidence 12.7/20 RS sector 1.7% · RS bench 19.5% · 1Y 40%11 of 11 weeks ahead 70% evidence
Exact sum: 26.3 + 8.8 + 8.7 + 12.7 = 56.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Suprajit Engineering LtdSUPRAJIT 51.3/100Mixed-positive evidence94% evidence TURNING 25.0/35 Revenue 18.4% · PAT 73.2% · OPM change 3 pp 100% evidence 10.0/25 ROCE 15.5% · OPM 12% 100% evidence 5.8/20 P/E 35.7× · PEG 5.51 100% evidence 10.5/20 RS sector -2.5% · RS bench 8.3% · 1Y 6.1%9 of 11 weeks ahead 70% evidence
Exact sum: 25 + 10 + 5.8 + 10.5 = 51.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Varroc Engineering LtdVARROC 50.5/100Mixed-positive evidence87% evidence BREAKING OUT 16.6/35 Revenue 14.7% · PAT 39.9% · OPM change -2 pp 100% evidence 9.6/25 ROCE 19% · OPM 8% 100% evidence 13.9/20 P/E 46.7× · PEG 0.63 65% evidence 10.4/20 RS sector -8.5% · RS bench 43.4% · 1Y 44.8%11 of 11 weeks ahead 70% evidence
Exact sum: 16.6 + 9.6 + 13.9 + 10.4 = 50.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Samvardhana Motherson International LtdMOTHERSON 49.0/100Mixed-negative evidence100% evidence LEADER 20.3/35 Revenue 14% · PAT 24.7% · OPM change 1 pp 100% evidence 8.7/25 ROCE 13.4% · OPM 9% 100% evidence 4.8/20 P/E 38× · PEG 5.68 100% evidence 15.2/20 RS sector 8.7% · RS bench 29.9% · 1Y 73.8%12 of 12 weeks ahead 100% evidence
Exact sum: 20.3 + 8.7 + 4.8 + 15.2 = 49 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Endurance Technologies LtdENDURANCE 46.4/100Mixed-negative evidence100% evidence BREAKING OUT 17.1/35 Revenue 29.4% · PAT 13.1% · OPM change -1 pp 100% evidence 12.8/25 ROCE 17.8% · OPM 12% 100% evidence 9.0/20 P/E 38.5× · PEG 2.33 100% evidence 7.5/20 RS sector -14% · RS bench 3.7% · 1Y -9.3%11 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 12.8 + 9 + 7.5 = 46.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14Sharda Motor Industries LtdSHARDAMOTR 46.3/100Mixed-negative evidence100% evidence TURNING 9.0/35 Revenue 25.6% · PAT -1.8% · OPM change -3 pp 100% evidence 17.4/25 ROCE 34.5% · OPM 10% 100% evidence 9.6/20 P/E 16.2× · PEG 2.75 100% evidence 10.3/20 RS sector -13% · RS bench 5.4% · 1Y -10.8%3 of 12 weeks ahead 100% evidence
Exact sum: 9 + 17.4 + 9.6 + 10.3 = 46.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15NDR Auto Components LtdNDRAUTO 44.7/100Mixed-negative evidence87% evidence ASLEEP 17.1/35 Revenue 18.2% · PAT 16.4% · OPM change 0 pp 95% evidence 16.0/25 ROCE 22.2% · OPM 11% 95% evidence 9.9/20 P/E 25.2× · PEG — 50% evidence 1.7/20 RS sector -28.4% · RS bench -13.4% · 1Y -38.2%5 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 16 + 9.9 + 1.7 = 44.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Munjal Auto Industries LtdMUNJALAU 42.1/100Mixed-negative evidence87% evidence LEADER 15.0/35 Revenue 22.3% · PAT 19.1% · OPM change 0 pp 95% evidence 6.6/25 ROCE 9.8% · OPM 6% 95% evidence 9.1/20 P/E 20.8× · PEG — 50% evidence 11.4/20 RS sector 1% · RS bench 20.9% · 1Y 20.2%12 of 12 weeks ahead 100% evidence
Exact sum: 15 + 6.6 + 9.1 + 11.4 = 42.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17ZF Commercial Vehicle Control System India LtdZFCVINDIA 39.4/100Mixed-negative evidence100% evidence BREAKING OUT 10.8/35 Revenue 9% · PAT 3.1% · OPM change 0 pp 100% evidence 14.4/25 ROCE 19.4% · OPM 13% 100% evidence 7.5/20 P/E 57.4× · PEG 4.2 100% evidence 6.7/20 RS sector -10.7% · RS bench 7.8% · 1Y 13%2 of 12 weeks ahead 100% evidence
Exact sum: 10.8 + 14.4 + 7.5 + 6.7 = 39.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18Motherson Sumi Wiring India LtdMSUMI 38.3/100Mixed-negative evidence100% evidence BASING 11.3/35 Revenue 28.7% · PAT 4.3% · OPM change -2 pp 100% evidence 17.1/25 ROCE 38.9% · OPM 8% 100% evidence 7.7/20 P/E 38.4× · PEG 6.28 100% evidence 2.2/20 RS sector -28.5% · RS bench -13.1% · 1Y -19.6%1 of 12 weeks ahead 100% evidence
Exact sum: 11.3 + 17.1 + 7.7 + 2.2 = 38.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19Mercury EV-Tech LtdMERCURYEV 28.2/100Adverse evidence74% evidence BREAKING OUT 8.4/35 Revenue 4.2% · PAT -47.6% · OPM change 0.4 pp 95% evidence 4.8/25 ROCE 2.6% · OPM 9.8% 95% evidence 8.5/20 P/E 174× · PEG — 15% evidence 6.5/20 RS sector -39% · RS bench 15.8% · 1Y -18.9%7 of 9 weeks ahead 70% evidence
Exact sum: 8.4 + 4.8 + 8.5 + 6.5 = 28.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Precision Camshafts LtdPRECAM 26.6/100Adverse evidence81% evidence ASLEEP 5.9/35 Revenue -4.9% · PAT -33.3% · OPM change -3.6 pp 95% evidence 6.5/25 ROCE 7.3% · OPM 3.8% 95% evidence 10.9/20 P/E 35.2× · PEG — 50% evidence 3.3/20 RS sector -32% · RS bench -23.2% · 1Y -36.2%1 of 10 weeks ahead 70% evidence
Exact sum: 5.9 + 6.5 + 10.9 + 3.3 = 26.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is Jay Bharat Maruti Ltd's share price today?

Jay Bharat Maruti Ltd trades at ₹117, +23.1% over the past year. The company is valued at ₹1,262 Cr. The stock sits at 34% of its 52-week range of ₹81–₹188, −3.1% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 16 weeks in. — as of 11 September 2026.

What were Jay Bharat Maruti Ltd's latest quarterly results?

Jay Bharat Maruti Ltd reported revenue of ₹627 Cr and net profit of ₹22.0 Cr for the Jun 26 quarter. Revenue rose 12.6% and profit fell 4.3% year on year. Earnings per share were ₹2.02. The operating margin was 10.0%, 2.0 pp lower than a year earlier. — as of 11 September 2026.

What is Jay Bharat Maruti Ltd's revenue?

Jay Bharat Maruti Ltd reported revenue of ₹627 Cr in the Jun 26 quarter, +12.6% year on year. For the full FY26 fiscal year, revenue was ₹2,551 Cr (+11.4%). Over the last 7 years revenue compounded at 3.6% a year. — as of 11 September 2026.

What is Jay Bharat Maruti Ltd's profit?

Jay Bharat Maruti Ltd earned ₹22.0 Cr of net profit in the Jun 26 quarter, −4.3% year on year. Full-year FY26 profit was ₹140 Cr. The operating margin ran 10.0% in the latest quarter. — as of 11 September 2026.

What is Jay Bharat Maruti Ltd's market cap?

Jay Bharat Maruti Ltd's market capitalisation is ₹1,262 Cr at a share price of ₹117. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is Jay Bharat Maruti Ltd's P/E ratio?

Jay Bharat Maruti Ltd trades at a P/E of 9.1×, at the 6th percentile of its own 7-year range, against a long-run median of 19.8×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does Jay Bharat Maruti Ltd pay a dividend?

Yes — Jay Bharat Maruti Ltd's dividend payout was 5% of profit in FY26, and it recorded a payout in each of its last 8 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is Jay Bharat Maruti Ltd overvalued?

On its own history, Jay Bharat Maruti Ltd looks cheap: its P/E of 9.1× has been cheaper only 6% of the time in 7 years (long-run median 19.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 11 September 2026.

Is Jay Bharat Maruti Ltd growing?

Not right now — Jay Bharat Maruti Ltd's latest numbers are shrinking: latest-quarter revenue +12.6% year on year, profit −4.3%, and the margin −2.0 pp at 10.0%. The 7-year compound rates are 3.6% (revenue) and 15.2% (profit). The earnings engine currently reads: deteriorating — as of 11 September 2026.

How is Jay Bharat Maruti Ltd performing?

Jay Bharat Maruti Ltd is in a confirmed uptrend, 16 weeks in. Its latest quarter's revenue rose 12.6% and profit fell 4.3% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is Jay Bharat Maruti Ltd in?

Improving — profit growth bottomed 6 quarters ago at −25.7% and has held its recovery at +170.6%, ROCE lifting at 17.0%. The read comes from the last 12 quarters of growth (revenue growth +13.3% latest, profit growth +170.6% latest, eps growth +172.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is Jay Bharat Maruti Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 16 of stage 2), trading −3.1% versus its 200-day average and at 34% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.

Is Jay Bharat Maruti Ltd beating the market?

Not lately — on a trailing-13-week view Jay Bharat Maruti Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-07-31), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +390% against the NIFTY 500's +273% — ahead of the index over the full window. — as of 11 September 2026.

Will Jay Bharat Maruti Ltd's share price go up?

This page publishes no price forecast for Jay Bharat Maruti Ltd. What it measures instead: the share price is ₹117, the price is in a confirmed uptrend 16 weeks in. Its P/E of 9.1× sits at the 6th percentile of its own 7-year range. — as of 11 September 2026.

Who owns Jay Bharat Maruti Ltd?

Promoters hold 59.4% of Jay Bharat Maruti Ltd, foreign institutions 1.3%, domestic institutions 0.0% and the public 39.3% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.

Does Jay Bharat Maruti Ltd have too much debt?

It is moderate — Jay Bharat Maruti Ltd's debt-to-equity is 0.76, and operating profit covers the interest bill 6×. FY26 borrowings were ₹531 Cr against equity of ₹696 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.

What is Jay Bharat Maruti Ltd's capex?

Jay Bharat Maruti Ltd spent ₹642 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹148 Cr, with ₹110 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is Jay Bharat Maruti Ltd's cash flow?

Jay Bharat Maruti Ltd generated ₹197 Cr of operating cash flow in FY26 and ₹49.0 Cr of free cash flow after ₹148 Cr of capital spending. Reported profit that year was ₹140 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is Jay Bharat Maruti Ltd's profit real cash?

Yes — over the last 3 fiscal years, 285% of Jay Bharat Maruti Ltd's reported profit arrived as operating cash. Though the latest year ran at 141% — the trend is the thing to watch. In FY26, operating cash was ₹197 Cr against reported profit of ₹140 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.

Where is Jay Bharat Maruti Ltd in its business cycle?

Jay Bharat Maruti Ltd's FY26 operating margin was 11.0%, against a 8-year band of 7.0%–11.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 10.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What growth does Jay Bharat Maruti Ltd's price assume?

At its price on 13 June 2026, Jay Bharat Maruti Ltd was priced for profit growth of about 11.7% a year. Profit itself has compounded 15.2% a year over the past 7 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.

What could break the Jay Bharat Maruti Ltd story?

The sharpest disagreement: annual EPS moved +324.3% against a +23.1% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.

Is Jay Bharat Maruti Ltd a stock worth studying right now?

This is not investment advice. The machine read: Jay Bharat Maruti Ltd is cheap for a reason. The P/E sits at the 6th percentile of its own range, and the quarters are still getting worse. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

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