Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0.70 | 0.49 | 0.24 | 0.13 | 0.23 | 0.47 | 0.15 | -0.00 | 3.58 | 0.47 | 15.24 | 21.24 |
| Expenses | 1.01 | 1.33 | 0.66 | 0.38 | 0.41 | 0.53 | 0.84 | 1.80 | 2.47 | -0.73 | 11.55 | 18.78 |
| Operating Profit | -0.31 | -0.84 | -0.42 | -0.25 | -0.18 | -0.06 | -0.69 | -1.80 | 1.11 | 1.20 | 3.69 | 2.46 |
| OPM % | -44.29% | -171.43% | -175.00% | -192.31% | -78.26% | -12.77% | -460.00% | 31.01% | 255.32% | 24.21% | 11.58% | |
| Other Income | 0.01 | 0.42 | 0.17 | 0.04 | 0.16 | -0.00 | 0.01 | 0.01 | 1.67 | 0.06 | -0.00 | -0.00 |
| Interest | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | 0.09 | 0.99 | 0.91 |
| Depreciation | 2.09 | 2.09 | 2.08 | 1.35 | 1.35 | 1.35 | 1.35 | 1.15 | 1.19 | 1.17 | 1.30 | 3.98 |
| Profit before tax | -2.39 | -2.51 | -2.33 | -1.56 | -1.37 | -1.41 | -2.03 | -2.94 | 1.59 | -0.00 | 1.40 | -2.43 |
| Tax % | -5.86% | -5.58% | -6.01% | 1.28% | 1.46% | 1.42% | 0.99% | 1.02% | 1.89% | -20.71% | 10.29% | |
| Net Profit | -2.24 | -2.37 | -2.19 | -1.58 | -1.39 | -1.43 | -2.05 | -2.97 | 1.56 | -0.03 | 1.70 | -2.67 |
| EPS in Rs | -1.43 | -1.51 | -1.40 | -1.01 | -0.89 | -0.91 | -1.31 | -1.89 | 1.00 | -0.03 | 1.62 | -2.54 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,270.19 | 1,734.67 | 2,033.13 | 1,997.53 | 456.83 | 70.80 | 59.68 | 23.02 | 2.30 | 0.98 | 19.29 | 40.53 |
| Expenses | 1,241.47 | 1,681.03 | 1,975.34 | 1,921.41 | 574.77 | 214.00 | 119.93 | 29.95 | 4.56 | 2.14 | 15.07 | 32.07 |
| Operating Profit | 28.72 | 53.64 | 57.79 | 76.12 | -117.94 | -143.20 | -60.25 | -6.93 | -2.26 | -1.16 | 4.22 | 8.46 |
| OPM % | 2.26% | 3.09% | 2.84% | 3.81% | -25.82% | -202.26% | -100.96% | -30.10% | -98.26% | -118.37% | 21.88% | 20.87% |
| Other Income | 0.89 | 1.35 | 6.68 | 5.59 | -19.88 | -2.67 | 0.23 | 0.11 | 0.82 | 0.20 | 1.73 | 1.73 |
| Interest | 12.19 | 13.24 | 19.11 | 24.05 | 15.90 | 0.20 | 0.60 | 1.64 | -0.00 | -0.00 | 1.08 | 1.99 |
| Depreciation | 0.78 | 2.41 | 4.99 | 12.01 | 13.37 | 12.59 | 11.28 | 5.77 | 8.36 | 5.41 | 4.81 | 7.64 |
| Profit before tax | 16.64 | 39.34 | 40.37 | 45.65 | -167.09 | -158.66 | -71.90 | -14.23 | -9.80 | -6.37 | 0.06 | 0.56 |
| Tax % | 10.34% | 8.87% | 18.78% | 19.67% | -0.45% | -1.07% | -0.32% | 20.80% | -5.92% | 1.10% | -366.67% | |
| Net Profit | 14.93 | 35.84 | 32.80 | 36.67 | -166.35 | -156.95 | -71.66 | -17.19 | -9.22 | -6.44 | 0.27 | 0.56 |
| EPS in Rs | 13.70 | 26.67 | 24.41 | 27.29 | -106.11 | -100.12 | -45.71 | -10.97 | -5.88 | -4.11 | 0.26 | 0.05 |
| Dividend Payout % | -0.00% | -0.00% | 4.10% | 1.83% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | -34% | -23% | -6% | 4668% | ||
| Compounded Profit Growth | -33% | 15% | 26% | 107% | ||
| Stock Price CAGR | 15% | 147% | 488% | 11457% | ||
| Return on Equity | % | % | % | 1% |
| 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 | 10.90 | 10.90 | 13.44 | 13.44 | 13.44 | 15.68 | 15.68 | 15.68 | 15.68 | 15.68 | 15.68 | 10.53 |
| Reserves | 37.30 | 51.68 | 134.00 | 215.84 | 255.27 | 92.94 | -65.84 | -137.22 | -154.41 | -163.64 | -170.08 | 185.68 |
| Borrowings | 51.15 | 102.07 | 151.02 | 120.68 | 148.02 | 238.07 | 233.16 | 233.54 | 235.85 | 235.85 | 235.85 | 59.82 |
| Other Liabilities | 172.97 | 213.71 | 209.04 | 143.70 | 176.67 | 95.26 | 12.45 | 6.43 | 11.75 | 17.87 | 9.97 | 74.44 |
| Total Liabilities | 272.32 | 378.36 | 507.50 | 493.66 | 593.40 | 441.95 | 195.45 | 118.43 | 108.87 | 105.76 | 91.42 | 330.47 |
| Fixed Assets | 2.62 | 4.25 | 23.88 | 56.93 | 97.04 | 90.13 | 71.25 | 61.70 | 55.92 | 47.55 | 42.14 | 236.28 |
| CWIP | 0.40 | 0.52 | 16.08 | 9.84 | 10.43 | 9.47 | 8.42 | 6.27 | 6.27 | 6.27 | 6.27 | 4.40 |
| Investments | -0.00 | 36.45 | 0.05 | 0.45 | 2.62 | 11.86 | 11.86 | 11.86 | 12.47 | 12.47 | 12.47 | 12.47 |
| Other Assets | 269.30 | 337.14 | 467.49 | 426.44 | 483.31 | 330.49 | 103.92 | 38.60 | 34.21 | 39.47 | 30.54 | 77.32 |
| Total Assets | 272.32 | 378.36 | 507.50 | 493.66 | 593.40 | 441.95 | 195.45 | 118.43 | 108.87 | 105.76 | 91.42 | 330.47 |
| 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 | -31.47 | 0.80 | 14.12 | -4.33 | 45.23 | 25.59 | 1.06 | -1.16 | 1.21 | 4.81 | -8.40 | -15.48 |
| Cash from Investing Activity | 17.42 | -38.14 | -56.12 | 6.37 | -49.15 | 8.35 | 3.40 | 0.58 | -0.07 | 0.82 | 0.20 | -7.86 |
| Cash from Financing Activity | 16.97 | 38.74 | 40.36 | 0.13 | 3.30 | -34.19 | -4.94 | 0.17 | 0.67 | -0.00 | -0.00 | 23.39 |
| Net Cash Flow | 2.93 | 1.40 | -1.64 | 2.17 | -0.63 | -0.25 | -0.48 | -0.42 | 1.81 | 5.63 | -8.20 | 0.05 |
| Free Cash Flow | -33.98 | -1.72 | -23.37 | -37.55 | -6.06 | 20.10 | 4.96 | -0.73 | 1.21 | 4.81 | -8.40 | -23.35 |
| CFO/OP | -202% | 9% | 30% | -2% | 60% | -22% | -1% | 2% | -17% | -213% | 724% | -367% |
| 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 | 61.68 | 64.79 | 55.26 | 45.82 | 48.81 | 192.34 | 244.26 | 66.11 | 187.73 | 1,842.46 | 4,167.70 | 383.54 |
| Inventory Days | 23.61 | 22.18 | 29.79 | 35.22 | 47.39 | 110.90 | 150.42 | 40.50 | 12.92 | 194.35 | 1,662.78 | 1,633.28 |
| Days Payable | 45.45 | 43.98 | 62.30 | 43.74 | 58.85 | 152.42 | 42.78 | 18.29 | 66.16 | 1,853.44 | 16,343.89 | 1,213.92 |
| Cash Conversion Cycle | 39.83 | 42.99 | 22.75 | 37.29 | 37.35 | 150.82 | 351.90 | 88.33 | 134.49 | 183.37 | -10,513.41 | 802.90 |
| Working Capital Days | 25.82 | 23.95 | 15.65 | 25.95 | 31.41 | -7.33 | -694.53 | -1,167.90 | -3,177.66 | -32,926.17 | -74,415.31 | 877.21 |
| ROCE % | 17.86% | 21.84% | 23.25% | 18.35% | 18.18% | -29.94% | -58.54% | -48.34% | -12.04% | -10.59% | -7.52% | 0.68% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 68.29% | 68.29% | 68.29% | 68.29% | 68.29% | 68.29% | 68.29% | 68.29% | 68.29% | 68.29% | 95.00% | 95.00% |
| Public | 31.71% | 31.71% | 31.71% | 31.71% | 31.71% | 31.72% | 31.71% | 31.70% | 31.71% | 31.71% | 4.99% | 5.00% |
| No. of Shareholders | 4,483 | 4,483 | 4,483 | 4,378 | 4,303 | 4,243 | 4,217 | 4,326 | 4,287 | 4,287 | 3,543 | 3,442 |
Fundamentals
Market Cap₹ 752 Cr.
Current Price₹ 714
Stock P/E1,342
Book Value₹ 186
ROCE0.68 %
ROE1.29 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)4668%
Compounded Profit Growth (TTM)107%
Consolidated figures.
Valuation
Market capRs 751 Cr
Enterprise valueRs 810 Cr
P/E (TTM)1341.92x
Price to book3.83x
Price to sales18.54x
EV / EBITDA92.24x
EV / EBIT710.38x
EV / sales19.98x
Earnings yield0.07%
P/E, 3-year average26.55x
P/B, 3-year average-0.03x
P/E, 5-year average26.55x
P/B, 5-year average-0.04x
Profitability
Operating margin (excl. other income)21.88%
Operating margin (incl. other income)30.84%
EBITDA margin21.66%
Pre-tax margin0.15%
Net profit margin1.38%
Net margin, latest quarter-12.57%
ROE1.29%
ROCE0.68%
ROA0.13%
ROE, 3-year average3.99%
ROCE, 3-year average-5.81%
ROA, 3-year average-5.00%
ROE, 5-year average21.73%
ROCE, 5-year average-15.56%
ROA, 5-year average-15.16%
ROIC (approx.)2.09%
Tax rate-366.67%
Other income / net worth0.88%
Growth
Sales growth (latest year)1868.37%
Sales CAGR, 3 years-5.72%
Sales CAGR, 5 years-22.90%
Sales growth QoQ39.37%
Profit growth QoQ-257.06%
Per share
EPS (TTM)Rs 0.53
EPS (latest year)Rs 0.26
EPS (latest quarter)Rs -2.54
EPS, 3-year averageRs -3.24
EPS, 5-year averageRs -13.28
Book value per shareRs 186.40
Sales per shareRs 38.50
Cash flow per shareRs -14.71
Free cash flow per shareRs -22.18
Efficiency
Asset turnover0.06x
Fixed asset turnover0.08x
Inventory turnover0.36x
Inventory days1002 days
Debtor days384 days
Debtors turnover0.95x
Creditor days1214 days
Cash conversion cycle803 days
Working capital days877 days
Leverage
Total debtRs 60 Cr
Cash and bankRs 1 Cr
Net debtRs 58 Cr
Debt to equity0.30x
Net debt / EBITDA6.65x
Interest coverage1.06x
Owners' fund to total sources59.37%
Debt to assets18.10%
Cash flow
Cash from Operating Activity (latest year)Rs -15 Cr
Cash from Investing Activity (latest year)Rs -8 Cr
Cash from Financing Activity (latest year)Rs 23 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -23 Cr
FCFE (approx.: FCF + change in debt)Rs -199 Cr
Statement figures
Net sales (TTM)Rs 41 Cr
Net sales (latest year)Rs 19 Cr
Sales (latest quarter)Rs 21 Cr
Operating profit excl. other income (latest year)Rs 4 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 9 Cr
PBDT (TTM)Rs 8 Cr
Profit before tax (TTM)Rs 0 Cr
Tax (latest year)Rs -0 Cr
Net profit (TTM)Rs 1 Cr
Net profit (latest year)Rs 0 Cr
Net profit (latest quarter)Rs -3 Cr
Depreciation (TTM)Rs 8 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 12 Cr
Total expenditure (latest year)Rs 15 Cr
Total income (latest year)Rs 21 Cr
Share capitalRs 11 Cr
ReservesRs 186 Cr
Shareholders' fundsRs 196 Cr
Total assetsRs 330 Cr
Net blockRs 236 Cr
Capital work in progressRs 4 Cr
InvestmentsRs 12 Cr
ReceivablesRs 20 Cr
InventoryRs 34 Cr
Other liabilitiesRs 74 Cr
Shares outstanding (crore)1.05
Ownership
Promoter holding95.00% (+26.71 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 3.83 is at the 96th percentile (median 0.34).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 537254 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -5.9% | -2.8% | -3.1 pts |
| 1 month | +21.1% | -6.8% | +27.9 pts |
| 3 years | +20181.2% | +14.2% | +20167.1 pts |
| 5 years | +9099.7% | +27.9% | +9071.9 pts |
Red flags
F-score 6 of 8| explain | Low interest cover Interest cover 1.1x in 2026 |
| look | Inventory outrunning sales Inventory grew 8107% vs sales +1868% in 2026 |
| look | Profit leans on other income Other income was 2883% of pre-tax profit in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹21 Cr.
Net loss ₹3 Cr.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of JTL Defence Ltd?
JTL Defence Ltd (537254) has a market capitalisation of Rs 752 Cr. at the 2026-10-01 close.
What is the P/E ratio of JTL Defence Ltd?
JTL Defence Ltd trades at a P/E of 1,342 on trailing twelve-month profit, at the 2026-10-01 close.
What were JTL Defence Ltd's latest quarterly results?
In the Jun 2026 quarter, JTL Defence Ltd sales was Rs 21 Cr with a net loss of Rs 3 Cr.