JBM Auto Limited, the Haryana-based maker of auto components and electric buses, reported a consolidated net profit of ₹58.76 crore for the quarter ended 30 September 2026 (Q2 FY27), up 12.46% from ₹52.25 crore a year earlier. Revenue, including other operating income, rose 21.06% to ₹1,656.37 crore, the company said in results filed on 26 October 2026. Revenue from its electric vehicle (EV) business rose 21.84% to ₹548.33 crore, and the business delivered 578 buses, its highest quarterly total.
Key Financial Details
According to JBM Auto’s press release and results filing, the consolidated figures for the quarter were:
- Revenue including other operating income: ₹1,656.37 crore, against ₹1,368.24 crore
- Earnings before interest, tax, depreciation and amortisation (EBITDA): ₹201.35 crore, up 3.40% from ₹194.72 crore
- Profit before tax: ₹74.18 crore, against ₹74.39 crore
- Net profit: ₹58.76 crore, against ₹52.25 crore
- Earnings per share: ₹2.49, against ₹2.23
EBITDA grew more slowly than revenue, so the EBITDA margin fell to about 12.2% from about 14.2%. Profit before tax was flat while net profit rose. The release does not explain either change. For the half year to 30 September 2026, revenue was ₹3,098.82 crore against ₹2,622.12 crore, and net profit was ₹101.19 crore against ₹88.84 crore. In the June quarter (Q1 FY27), net profit was ₹42.43 crore.
Segment Performance
The auto components business remained the larger segment and grew faster. Its revenue rose 24.68% to ₹1,036.97 crore from ₹831.69 crore a year earlier. The EV business, which builds and operates electric buses, grew 21.84% to ₹548.33 crore from ₹450.05 crore.
JBM Auto listed these operating highlights for the quarter:
- Fleet: its total electric bus fleet on the road crossed 4,000 buses across India
- Depots: its mobility business now operates from more than 50 depots
- Market share: about 24% of India’s electric bus market in H1 FY27
- Product: the next-generation Galaxy sleeper-cum-seater luxury coach, launched at Prawaas in Gandhinagar
The release does not split bus deliveries by customer or state. The latest order book the company has given is more than 10,000 electric buses deployed and under execution, for JBM Auto and JBM Ecolife Mobility together, stated in June 2026.
Registration Data
In a separate release on 1 October 2026, JBM Auto said it registered 274 electric buses in September 2026, a 33% share of the market, according to the government’s Vahan portal. Between April and September 2026 it registered 892 electric buses out of 3,771 registered nationally. The company said it also recorded the highest electric bus registrations in the country in FY26.
Management Comment
The results release carries no management comment. Commenting on the September registrations, Vice Chairman and Managing Director Nishant Arya said that the company’s lead in the electric bus market reflects the scale and execution strength of the ecosystem it has built. Arya said its purpose-built electric buses focus on efficiency, safety and passengers, in line with the group’s Net Zero 2040 commitment.
Policy Backdrop
JBM links its growth to two central schemes: the PM e-Bus Sewa programme and the PM E-Drive initiative, which support the deployment of electric buses. In a 13 July 2026 release, Arya said India’s electric bus registrations grew 40% in the first half of calendar 2026, with 2,944 buses registered across states under these schemes. JBM Ecolife Mobility runs its fleets under long-term agreements with state transport authorities in Indian cities, according to the company’s June 2026 release.
About JBM Auto
JBM Auto is the flagship company of JBM Group, which it describes as a US$3.3 billion Indian conglomerate. Its registered office is in Faridabad and its corporate office in Gurugram, both in Haryana. The company makes auto components and, through JBM Electric Vehicles Private Limited and other subsidiaries, builds and operates electric buses and coaches. It says its integrated electric bus plant in the Delhi-NCR region has an annual production capacity of 20,000 electric buses.
Recent Pipeline
According to JBM Auto’s stock exchange disclosures in 2026:
- June 2026: Said it took a 49% share of electric bus registrations in May 2026, with 157 buses.
- June 2026: JBM Ecolife Mobility secured a ₹750 crore strategic investment from Motilal Oswal Alternates to deploy about 2,000 electric buses. The company said it expects about 5,000 of its electric buses on the road in the following 12 months.
- July 2026: Union Minister of Road Transport and Highways Nitin Gadkari launched the Galaxy coach at Prawaas 5.0. One version has 22 reclining seats and 20 sleeper berths with an onboard washroom, and the company said the platform has demonstrated operations of over 900 km per day.
- July 2026: JBM Electric Vehicles signed a memorandum of understanding (MoU) with Drivn, an electric commercial vehicle leasing platform, to supply 500 electric buses in phases over one year.
- July 2026: The board approved raising up to ₹1,500 crore, subject to shareholder approval.
Outlook
On 18 June 2026 the company set a target of about 5,000 electric buses on the road within 12 months, against more than 4,000 now. Deliveries under the Drivn MoU are due in phases over the year from July 2026. The board’s 30 July 2026 approval to raise up to ₹1,500 crore was subject to shareholder approval at the annual general meeting, and the company has not yet announced an issue.
Official Sources
- JBM Auto Limited – Press release: unaudited financial results for Q2 and H1 FY27 (NSE, 26 October 2026): https://nsearchives.nseindia.com/corporate/JBMA_26102026145539_PRstx.pdf
- JBM Auto Limited – Financial results for the quarter and half year ended 30 September 2026 (NSE, 26 October 2026): https://nsearchives.nseindia.com/corporate/JBMA_26102026144316_outcomeBM.pdf
- JBM Auto Limited – Press release: 33% electric bus market share in September 2026 (NSE, 1 October 2026): https://nsearchives.nseindia.com/corporate/JBMA_01102026134434_Pressreleasestx.pdf
- JBM Auto Limited – Press release: JBM Electric Vehicles partners with Drivn to supply 500 electric buses (NSE, 13 July 2026): https://nsearchives.nseindia.com/corporate/JBMA_13072026131610_Pressreleasestx.pdf
- JBM Auto Limited – Press release: JBM Ecolife Mobility secures ₹750 crore from Motilal Oswal (NSE, 18 June 2026): https://nsearchives.nseindia.com/corporate/JBMA_18062026112145_PressReleasestx.pdf
- JBM Auto Limited – Outcome of board meeting: fund raising of up to ₹1,500 crore (NSE, 30 July 2026): https://nsearchives.nseindia.com/corporate/JBMA_30072026152857_BMoutcome.pdf
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