Jaro Institute of Technol. Mgt. and Research Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹762 Cr
- P/E
- 13.47
- ROE
- 16.52%
- PEG
- 0.24
- Price to sales
- 2.66
- Debt to equity
- 0.02
- 52W high / low
- ₹708 / ₹341
- Sales growth (5Y)
- 44.90%
- EBITDA margin
- 25.81%
- Net profit margin
- 16.04%
- Promoter holding
- 61.43%
- Sales (last year)
- ₹284 Cr
Incorporated in 2009, Jaro Institute of Technology Management and Research Ltd is an online higher education and upskilling company.[1]
Guidance scorecard · Q1 FY27 call
What Jaro Institute of Technol. Mgt. and Research Ltd's management guided
and where it ranks in Other Consumer Services
RevenueQ3 FY26 call
20–40%- The company expects overall growth in enrollments and revenue in the range of 20%-25% for FY ’26.
- ARPU (Average Revenue Per User) has almost doubled over the last 4 years, from INR 43,000 to INR 84,000, and this strong ARPU range is expected to sustain and improve with focus on higher-fee programs.
- Market size for online higher education and upskilling is projected to grow from INR 13,200 crores in 2023 to INR 41,450 crores by 2028, at a CAGR of 25.7%, indicating strong sector potential.
- The company aims for steady and sustainable growth rather than rapid scaling, focusing on profitability and quality.
2 more points from Jaro Institute of Technol. Mgt. and Research Ltd's call on revenue
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MarginsQ3 FY26 call
Up 2%+See what Jaro Institute of Technol. Mgt. and Research Ltd said on margins — free account, 30 seconds.
CapexQ3 FY26 call
- The company currently operates 17 studios across India in various prestigious institutions (e.g., IIM Ahmedabad, IIM Trichy), with capital expenditure (capex) borne by Jaro for setting up and maintaining these studios.
- Technology support, including maintaining learning management systems (LMS) and studios, is a key part of their service offering and involves ongoing investment.
- There is a potential future strategic investment planned in content development once the government allows private companies to do so; Jaro already has the capability and will jump into content development immediately when permitted.
2 more points from Jaro Institute of Technol. Mgt. and Research Ltd's call on capex
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FundraisingQ3 FY26 call
See what Jaro Institute of Technol. Mgt. and Research Ltd said on fundraising — free account, 30 seconds.
Order bookQ3 FY26 call
Rising- As of 30th September, unbilled revenue (referred to as "orderbook" or "pending orders") stood at approximately INR 225 crores.
- Unbilled revenue arises because fees for programs like MBA and BCom are collected semester-wise over 18 to 30 months.
- For MBA programs, unbilled revenue is expected to be recognized as revenue over the next 12 to 18 months.
- For BCom programs, this recognition period could extend up to 24 to 30 months.
- Growth in unbilled revenue is currently higher than the growth in actual revenue.
- If growth is around 20-22%, the unbilled revenue to revenue ratio is expected to remain stable.
2 more points from Jaro Institute of Technol. Mgt. and Research Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Other Consumer Services
on management's own guidance
- Physicswallah LtdGood growth2
- Mach Travel SolutionsGood growth1
- Vinsys IT Serv.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Other Consumer Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Mach Travel Solutions | 20–40% | Up 0–2% | ₹459 Cr | 22.7 |
| 2 | Physicswallah Ltd | 20–40% | Flat | ₹38,872 Cr | 636.1 |
| 3 | Vinsys IT Serv. | 20–40% | Flat | ₹869 Cr | 29.2 |
| 4 | 20–40% | Flat | ₹312 Cr | — | |
| 5 | 20–40% | Flat | ₹277 Cr | 25.0 | |
| 6 | 20–40% | Flat | ₹65 Cr | 18.5 |
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Pro shows every company guiding 40%+ revenue growth →Full Other Consumer Services rankingFinancials of Jaro Institute of Technol. Mgt. and Research Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Jaro Institute of Technol. Mgt. and Research Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 61 | 74 | 43 | 74 | 61 | 80 | 60 | 73 |
| Expenses + | 35 | 45 | 45 | 46 | 47 | 54 | 50 | 52 |
| Operating Profit | 26 | 30 | -1 | 28 | 14 | 27 | 10 | 21 |
| OPM % | 42% | 40% | -3% | 38% | 23% | 33% | 17% | 29% |
| Other Income + | 0 | 1 | 0 | 1 | 0 | 0 | 2 | 9 |
| Interest | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Depreciation | 2 | 2 | 3 | 2 | 2 | 2 | 3 | 2 |
| Profit before tax | 24 | 27 | -5 | 25 | 10 | 23 | 9 | 27 |
| Tax % | 27% | 26% | -27% | 26% | 27% | 27% | 25% | 22% |
| Net Profit + | 17 | 20 | -4 | 18 | 8 | 17 | 7 | 21 |
| EPS in Rs | 8.53 | 9.94 | -1.92 | 8.99 | 3.72 | 7.68 | 3.17 | 9.62 |
Financials of Jaro Institute of Technol. Mgt. and Research Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 45 | 43 | 79 | 122 | 199 | 252 | 274 |
| Expenses + | 42 | 38 | 69 | 98 | 136 | 171 | 202 |
| Operating Profit | 3 | 5 | 10 | 24 | 63 | 81 | 72 |
| OPM % | 7% | 12% | 13% | 20% | 32% | 32% | 26% |
| Other Income + | 8 | 3 | 2 | 2 | 4 | 4 | 11 |
| Interest | 2 | 3 | 3 | 5 | 5 | 5 | 3 |
| Depreciation | 2 | 1 | 1 | 5 | 7 | 9 | 10 |
| Profit before tax | 8 | 4 | 9 | 16 | 55 | 70 | 70 |
| Tax % | 28% | 31% | 26% | 27% | 26% | 26% | 25% |
| Net Profit + | 5 | 3 | 6 | 12 | 41 | 52 | 53 |
| EPS in Rs | 3.63 | 1.93 | 4.25 | 7.66 | 26.95 | 25.53 | 23.86 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 4% | 0% |
Financials of Jaro Institute of Technol. Mgt. and Research Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 20 | 22 |
| Reserves | 30 | 33 | 40 | 60 | 102 | 151 | 339 |
| Borrowings + | 26 | 23 | 20 | 34 | 25 | 64 | 8 |
| Other Liabilities + | 9 | 12 | 18 | 54 | 59 | 41 | 61 |
| Total Liabilities | 81 | 84 | 93 | 163 | 202 | 277 | 429 |
| Fixed Assets + | 2 | 2 | 1 | 20 | 17 | 16 | 9 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 22 | 22 | 16 | 16 | 0 | 0 | 70 |
| Other Assets + | 57 | 61 | 76 | 127 | 184 | 261 | 349 |
| Total Assets | 81 | 84 | 93 | 163 | 202 | 277 | 429 |
Financials of Jaro Institute of Technol. Mgt. and Research Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 2 | 2 | 3 | -17 | -23 | 57 | |
| Cash from Investing Activity + | -1 | 8 | -8 | 47 | -4 | -112 | |
| Cash from Financing Activity + | -5 | -5 | -5 | -18 | 14 | 73 | |
| Net Cash Flow | -5 | 5 | -10 | 12 | -13 | 19 | |
| Free Cash Flow | 2 | 2 | 0 | -17 | -28 | 57 | |
| CFO/OP | 43% | 22% | 44% | -10% | -21% | 84% |
Financials of Jaro Institute of Technol. Mgt. and Research Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 114 | 113 | 35 | 21 | 21 | 52 | 18 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 114 | 113 | 35 | 21 | 21 | 52 | 18 |
| Working Capital Days | 180 | 169 | 94 | 89 | 150 | 227 | 388 |
| ROCE % | 11% | 16% | 23% | 47% | 40% | 24% |
Momentum score · price trend
7 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −43.3% | 8% |
| Last 6 months | −18.3% | 21% |
| Last 3 months | −26.7% | 6% |
The price is 56.5% below its all-time high of ₹787.2 (1 Oct 2025). Stocks more than 20% below their peak have their score halved, so 13 became 7.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Jaro Institute of Technol. Mgt. and Research Ltd: 0.4 × 8 + 0.4 × 21 + 0.2 × 6 = 13, halved to 7 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Jaro Institute of Technol. Mgt. and Research Ltd's management said in earlier quarters
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