JTEKT India Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹3,102 Cr
- P/E
- 40.46
- ROE
- 7.81%
- PEG
- -103.73
- Price to sales
- 1.10
- Debt to equity
- 0.29
- 52W high / low
- ₹166 / ₹109
- Sales growth (5Y)
- 14.57%
- EBITDA margin
- 7.38%
- Net profit margin
- 3.02%
- Promoter holding
- 74.98%
- Sales (last year)
- ₹2,818 Cr
JTEKT India Ltd., established in 1984, manufactures steering systems and driveline components for passenger cars, utility vehicles and light commercial vehicles. Products include rack-and-pinion manual steering gears, hydraulic power steering systems, recirculating ball screw assemblies, column-type electric power steering (CEPS), steering columns /Intermediate shafts and Constant Velocity Joints (CVJ)[1]
Guidance scorecard · Q4 FY26 call
What JTEKT India Ltd's management guided
and where it ranks in Auto Components
Auto Components
RevenueQ4 FY26 call
10–20%- Achieved INR300 crores additional turnover in the current year from new capacities.
- Existing production lines can support approximately INR500 crores incremental sales next year (INR400 crores domestic + INR75-100 crores exports), totaling around INR800 crores additional sales over two years.
- Expect 10% growth in sales next year, manageable with current capacity.
- CVJ production lines expected to reach 90% utilization with new Maruti Suzuki EV MPV launch in Oct 2026.
- Capacity utilization projected to reach 100% within 1 to 1.5 years as new models ramp up.
- Export volumes expected to grow, including up to 5 lakh units to Brazil long-term.
- Revenue growth aligned with passenger vehicle market growth; target surpassing market growth.
2 more points from JTEKT India Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ4 FY26 call
FlatSee what JTEKT India Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- JTEKT India has completed major capex related to line setups in the last 2 years.
- Current major ongoing capex: Setting up a new Gujarat plant with a committed investment of about INR 250 crores.
- As of now, INR 130 crores spent on Gujarat plant, with another INR 100 crores expected over the next 1-2 years.
- Other normal capital expenditures will continue but will be lower than previous years.
- CWIP (Capital Work in Progress) remains high at INR 411 crores, impacting ratios; this represents unproductive assets currently.
- Focus on expanding production lines for MS Gear, CVJ, and CPS products, especially to cater to new EV models by Maruti Suzuki.
2 more points from JTEKT India Ltd's call on capex
Create a free account to keep reading this call
FundraisingQ4 FY26 call
See what JTEKT India Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- JTEKT India has secured a significant order from Stellantis for supply to Brazil and nearby countries, starting with 70,000 units this year and expected to grow to 150,000 units next year, with potential for further order increases.
- The company is supplying 100% of Maruti Suzuki's EV business, including models like e Vitara and Victoris, and expects capacity utilization on the MS Gear Line 6 to increase from 30% to 80-90% with the launch of Maruti's upcoming MPV EV model.
- Honda's new EV SUV launch is anticipated to bring additional business of around INR 100 crores, with expected volumes around 40,000 units.
2 more points from JTEKT India Ltd's call on the order book
Create a free account to keep reading this call
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 Auto Components
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Auto Components companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹3,020 Cr | 47.8 | |
| 2 | 40%+ | Flat | ₹1,998 Cr | 63.5 | |
| 3 | 40%+ | Flat | ₹428 Cr | 17.5 | |
| 4 | 20–40% | Up 2%+ | ₹25,721 Cr | 73.8 | |
| 5 | 20–40% | Up 2%+ | ₹13,417 Cr | 40.5 | |
| 6 | 20–40% | Up 0–2% | ₹23,344 Cr | 37.6 |
Sign up free to see every company in the sector ranking and track JTEKT India Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Auto Components rankingFinancials of JTEKT India Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of JTEKT India Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 530 | 478 | 584 | 552 | 632 | 553 | 605 | 592 | 649 | 566 | 639 | 680 | 780 |
| Expenses + | 480 | 443 | 524 | 501 | 562 | 516 | 558 | 548 | 593 | 535 | 593 | 628 | 709 |
| Operating Profit | 50 | 34 | 60 | 51 | 70 | 37 | 47 | 44 | 57 | 31 | 46 | 52 | 71 |
| OPM % | 10% | 7% | 10% | 9% | 11% | 7% | 8% | 7% | 9% | 5% | 7% | 8% | 9% |
| Other Income + | 2 | 11 | 2 | 1 | 4 | 5 | 2 | 2 | 2 | 9 | 4 | 5 | 2 |
| Interest | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 3 | 3 | 4 | 2 | 4 | 5 |
| Depreciation | 19 | 19 | 20 | 20 | 23 | 20 | 21 | 20 | 22 | 21 | 23 | 26 | 29 |
| Profit before tax | 32 | 25 | 42 | 31 | 49 | 20 | 26 | 22 | 34 | 15 | 25 | 27 | 38 |
| Tax % | 18% | 25% | 27% | 24% | 30% | 26% | 26% | 27% | 27% | 26% | 27% | 25% | 28% |
| Net Profit + | 26 | 19 | 30 | 24 | 34 | 15 | 19 | 16 | 25 | 11 | 18 | 20 | 27 |
| EPS in Rs | 0.98 | 0.70 | 1.13 | 0.89 | 1.24 | 0.54 | 0.70 | 0.59 | 0.89 | 0.39 | 0.66 | 0.73 | 0.99 |
Financials of JTEKT India Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,079 | 1,077 | 1,165 | 1,525 | 1,773 | 1,531 | 1,350 | 1,610 | 2,073 | 2,245 | 2,399 | 2,666 |
| Expenses + | 956 | 961 | 1,034 | 1,330 | 1,572 | 1,413 | 1,258 | 1,499 | 1,907 | 2,030 | 2,215 | 2,465 |
| Operating Profit | 123 | 116 | 130 | 195 | 201 | 118 | 92 | 111 | 166 | 215 | 185 | 200 |
| OPM % | 11% | 11% | 11% | 13% | 11% | 8% | 7% | 7% | 8% | 10% | 8% | 8% |
| Other Income + | 4 | 16 | 4 | 7 | 13 | 11 | 8 | 4 | 9 | 19 | 10 | 19 |
| Interest | 25 | 28 | 24 | 21 | 16 | 10 | 5 | 4 | 5 | 6 | 10 | 15 |
| Depreciation | 78 | 72 | 75 | 92 | 91 | 87 | 78 | 66 | 68 | 81 | 83 | 99 |
| Profit before tax | 24 | 32 | 36 | 89 | 107 | 33 | 18 | 45 | 103 | 146 | 102 | 105 |
| Tax % | 24% | 22% | 30% | 35% | 36% | 16% | 30% | 27% | 22% | 27% | 26% | 27% |
| Net Profit + | 18 | 25 | 25 | 58 | 69 | 28 | 12 | 33 | 80 | 107 | 75 | 77 |
| EPS in Rs | 0.83 | 1.15 | 1.16 | 2.65 | 2.57 | 1.03 | 0.46 | 1.24 | 2.99 | 3.85 | 2.71 | 2.77 |
| Dividend Payout % | 72% | 40% | 40% | 17% | 29% | 31% | 30% | 30% | 15% | 14% | 24% | 27% |
Financials of JTEKT India Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 20 | 24 | 24 | 24 | 24 | 24 | 25 | 25 | 28 |
| Reserves | 242 | 255 | 279 | 509 | 549 | 549 | 553 | 582 | 652 | 796 | 854 | 1,158 |
| Borrowings + | 257 | 279 | 245 | 232 | 188 | 78 | 49 | 71 | 62 | 115 | 156 | 340 |
| Other Liabilities + | 218 | 219 | 221 | 252 | 272 | 185 | 261 | 269 | 284 | 342 | 432 | 446 |
| Total Liabilities | 737 | 773 | 765 | 1,013 | 1,034 | 837 | 887 | 947 | 1,022 | 1,279 | 1,468 | 1,971 |
| Fixed Assets + | 406 | 438 | 443 | 516 | 495 | 450 | 391 | 367 | 447 | 503 | 581 | 827 |
| CWIP | 62 | 38 | 21 | 23 | 9 | 2 | 6 | 93 | 24 | 93 | 303 | 400 |
| Investments | 35 | 35 | 34 | 5 | 5 | 5 | 5 | 5 | 5 | 0 | 0 | 0 |
| Other Assets + | 233 | 262 | 266 | 469 | 525 | 381 | 485 | 481 | 546 | 683 | 584 | 744 |
| Total Assets | 737 | 773 | 765 | 1,013 | 1,034 | 837 | 887 | 947 | 1,022 | 1,279 | 1,468 | 1,971 |
Financials of JTEKT India Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 129 | 89 | 150 | 164 | 170 | 108 | 83 | 96 | 83 | 172 | 194 | 99 |
| Cash from Investing Activity + | -63 | -65 | -61 | -113 | 22 | -25 | -22 | -114 | -84 | -172 | -272 | -470 |
| Cash from Financing Activity + | -66 | -23 | -91 | -50 | -83 | -149 | -42 | 15 | -24 | 28 | 18 | 392 |
| Net Cash Flow | -0 | 2 | -2 | 1 | 108 | -67 | 19 | -3 | -25 | 29 | -59 | 22 |
| Free Cash Flow | 66 | 11 | 85 | 119 | 107 | 75 | 56 | -23 | -8 | -14 | -82 | -343 |
| CFO/OP | 110% | 85% | 130% | 105% | 107% | 104% | 98% | 98% | 66% | 99% | 119% | 64% |
Financials of JTEKT India Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 39 | 47 | 47 | 63 | 56 | 47 | 70 | 56 | 50 | 54 | 49 | 52 |
| Inventory Days | 36 | 37 | 37 | 35 | 32 | 37 | 47 | 43 | 44 | 47 | 41 | 42 |
| Days Payable | 73 | 79 | 77 | 66 | 64 | 49 | 78 | 63 | 54 | 61 | 56 | 58 |
| Cash Conversion Cycle | 3 | 5 | 7 | 31 | 24 | 34 | 39 | 36 | 40 | 40 | 34 | 36 |
| Working Capital Days | -24 | -27 | -21 | 3 | 1 | 21 | 33 | 25 | 33 | 29 | 6 | 8 |
| ROCE % | 9% | 9% | 11% | 17% | 16% | 6% | 3% | 8% | 16% | 17% | 11% | 10% |
Guidance history
How JTEKT India Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 0–10% | Up 0–2% | Planned | Planned | — |
| Q4 FY25 call → | 0–10% | Up 0–2% | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
12 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 | −29.6% | 23% |
| Last 6 months | −18.8% | 22% |
| Last 3 months | −16.6% | 27% |
The price is 47.7% below its all-time high of ₹214.1 (5 Jul 2024). Stocks more than 20% below their peak have their score halved, so 23 became 12.
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 JTEKT India Ltd: 0.4 × 23 + 0.4 × 22 + 0.2 × 27 = 23, halved to 12 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 28 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 JTEKT India Ltd's management said in earlier quarters
Others in Auto Components this season
- Kheria Autocomp (Q2 FY27)
5,500.63 Lakhs for the half year ended 30th September 2025, indicating a year-on-year increase of approximately 31.4%. Key results statement takeaways from Kher
- Menon Bearings Ltd (Q2 FY27)
10,202.87 lakh, up 57.22% from Rs. Key results statement takeaways from Menon Bearings Ltd's Q2 FY27 results statement — and how it ranks against sector peers.
- India Motor Parts & Accessories Ltd (Q2 FY27)
221.70 Crores, compared to Rs. Key results statement takeaways from India Motor Parts & Accessories Ltd's Q2 FY27 results statement — and how it ranks against s
- Wheels India Ltd (Q2 FY27)
Q2 FY27 consolidated revenue from operations: INR 1,711 Cr, up 35% YoY (Page 19) . Key investor presentation takeaways from Wheels India Ltd's Q2 FY27 investor