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JBM Auto Ltd

| Statement of Standalone and Consolidated Financial Results for the Quarter and Year Ended 31st March, 2026

Report Source

⬤11th May 26

Summary : JBM Auto reported strong FY26 results, declared dividend, and pivoted to EV business.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Cost of materials consumed: Rs. 4,047.43 Cr (FY26)
  2. Consolidated Employee benefits expense: Rs. 586.32 Cr (FY26)
  3. Consolidated Finance costs: Rs. 318.24 Cr (FY26)
  4. Consolidated Depreciation and amortisation expense: Rs. 173.87 Cr (FY26)
  5. Consolidated Other expenses: Rs. 667.68 Cr (FY26)
  6. Consolidated Exceptional items: Rs. 9.69 Cr (FY26)
  7. Consolidated Revenue from Operations: Rs. 6,088.37 Cr (FY26) vs Rs. 5,472.33 Cr (FY25)
  8. Segment Revenue (Consolidated FY26): Component Division Rs. 3,447.38 Cr, Tool Room Division Rs. 338.91 Cr, OEM Division Rs. 2,307.37 Cr
  9. Consolidated Net cash flow from operating activities: Rs. -59.86 Cr (FY26)
  10. Consolidated Net cash flow from investing activities: Rs. -257.84 Cr (FY26)
  11. Consolidated Net cash flow from financing activities: Rs. 313.78 Cr (FY26)
  12. Consolidated Total Assets: Rs. 7,369.56 Cr (FY26)
  13. Consolidated Total Equity: Rs. 1,591.74 Cr (FY26, including Non Controlling Interests)
  14. Consolidated Total Non Current Liabilities: Rs. 1,202.77 Cr (FY26)
  15. Consolidated Total Current Liabilities: Rs. 4,575.05 Cr (FY26)
  16. Both standalone and consolidated financial results are presented and audited
  17. Segment information is disclosed only as part of Consolidated Financial Results

Corporate Overview

  1. India (Faridabad, Gurgaon)
  2. International presence through JBM Electric Vehicles International PTE Ltd and JBM Electric Vehicle Trading Middle East L.L.C
  3. Impact of New Labour Codes and operational disruptions (Rs. 8.40 Cr standalone, Rs. 9.69 Cr consolidated exceptional items)
  4. Uncertainty regarding pricing mechanism and financial obligations for End-of-Life Vehicles Rules, 2025
  5. Automotive component manufacturing (Component Division, Tool Room Division)
  6. Original Equipment Manufacturer (OEM) now renamed 'EV Business'
  7. Focus on Electric Vehicle (EV) segment
  8. Factual and compliant with regulatory disclosures
  9. Confident in financial reporting and strategic direction
  10. Component Division
  11. Tool Room Division
  12. OEM Division (now EV Business)
  13. Strategic shift to 'EV Business' implies future investments
  14. Capital Work in Progress (CWIP) on balance sheet

Risk Factors

  1. End-of-Life Vehicle Rules uncertainty.
  2. Impact from new Labour Codes.
  3. Operational disruptions affected financial results.
  4. Some subsidiary/JV financials not reviewed.

Key Drivers

  1. OEM division renamed to EV Business.
  2. Revenue and profit increased year-on-year.
  3. Board recommended 85% final dividend.
  4. Unmodified audit opinion on financials.

Auditor’s Report

  1. Unmodified opinion on Standalone and Consolidated Audited financial results for FY 2026
  2. Auditors' responsibilities include assessing risks of material misstatement, evaluating accounting policies, and concluding on going concern basis.
  3. Certain subsidiary and joint venture financial results were not reviewed by the primary auditor, but by other auditors or furnished by management, deemed not material to the Group's opinion.

Board Commentary

  1. Re-appointment of Mr. Amol Modak as Internal Auditor for FY 2026-27
  2. Re-appointment of M/s. Jitender Navneet & Co. as Cost Auditors for FY 2026-27
  3. Recommended Final Dividend of 85% (Rs. 0.85 per Equity share of Re. 1/- each) for FY 2026
  4. Uncertainty regarding EPR certificate pricing and financial obligations for End-of-Life Vehicles Rules
  5. Financial impact from New Labour Codes and operational disruptions
  6. Exceptional items due to New Labour Codes and operational disruptions
  7. Impact of End-of-Life Vehicles Rules, 2025, effective April 1, 2025, with pending implementation framework
  8. Capital Work in Progress (CWIP) reported on balance sheet

Corporate Governance

  1. Audit Committee reviewed financial results

Management Discussion & Analysis

Future Strategy

  1. Renaming OEM Division to 'EV Business' to reflect strategic focus
  2. Monitoring regulatory developments for Labour Codes and End-of-Life Vehicles Rules

Industry Overview

  1. Positive outlook on Electric Vehicle (EV) sector
  2. Anticipating impact of new End-of-Life Vehicles Rules, 2025

Operational Focus Areas

  1. Ensuring compliance with SEBI Listing Obligations & Disclosure Requirements
  2. Maintaining robust internal and cost audit functions

Performance Drivers

  1. Increased revenue from operations year-on-year (Consolidated: Rs. 6,088.37 Cr in FY26 vs Rs. 5,472.33 Cr in FY25)
  2. Growth across Component, Tool Room, and OEM (EV Business) divisions

Risk Control Measures

  1. Monitoring finalization of Central/State Rules and clarifications on Labour Codes
  2. Evaluating impact of End-of-Life Vehicles Rules once implementation framework is established

Critical Risks

  1. Uncertainty in financial impact from End-of-Life Vehicles Rules, 2025 due to lack of implementation framework
  2. Potential financial impact from New Labour Codes and operational disruptions
  3. Reliance on other auditors for certain subsidiary and joint venture financial results