Jamna Auto Industries Ltd (NSE: JAMNAAUTO) is gaining investor interest as it expands capacity, diversifies its product mix, and strengthens its leadership in CV suspensions. Investors now ask: Is Jamna Auto a good long-term investment? and What are the Jamna Auto share price targets for 2026–2030?
This section covers Jamna Auto’s business fundamentals, growth drivers, risks, valuation outlook, and future performance expectations, along with clear Jamna Auto share price targets for 2026–2030. It also highlights key factors to track as the company expands plants, exports, and new product contributions.
Table of Contents
- Jamna Auto Industries Ltd (NSE: JAMNAAUTO) – Company Overview
- Jamna Auto Share Price Today
- Jamna Auto Investment Calculator
- Jamna Auto Share Price Target 2026
- Jamna Auto Share Price Target 2027
- Jamna Auto Share Price Target 2028
- Jamna Auto Share Price Target 2029
- Jamna Auto Share Price Target 2030
- Should You Buy Jamna Auto Stock?
- Jamna Auto Annual Earnings Results
- Key Valuation Metrics – Jamna Auto
- Jamna Auto – Peer Comparison
- Is Jamna Auto a Good Buy for Long Term?
- Final Verdict – Jamna Auto Industries
- FAQs – Jamna Auto Industries
1. Jamna Auto Industries Ltd (NSE: JAMNAAUTO) – Company Overview
Jamna Auto Industries Ltd, India’s largest manufacturer of leaf springs and suspension solutions for commercial vehicles, supplies major OEMs such as Tata Motors, Ashok Leyland, Mahindra, and Volvo. The company holds a dominant domestic market share of 62–65% and continues expanding into parabolic springs, lift axles, and air suspensions.
Backed by strong cash flows, near-zero debt, and new plants in Adityapur and Indore, Jamna Auto is increasing capacity and accelerating entry into new markets and export regions. The company is also diversifying beyond its cyclical CV segment by boosting aftermarket sales and introducing higher-margin components.
Investors and traders can track real-time stock updates and corporate filings on BSE and NSE India. Jamna Auto continues to attract market attention due to its expansion plans, new product mix, and improving long-term visibility.
2. Jamna Auto Share Price (NSE: JAMNAAUTO) Today
3. Jamna Auto Investment Calculator
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4. Jamna Auto Share Price Target 2026
- Ramp-up of the new Adityapur and Indore plants may support volume growth from FY26.
- The company continues expanding aftermarket + export markets, which may reduce cyclicality.
- However, high reliance on M&HCV demand cycles may keep the stock volatile in 2026.
- Raw material costs and OEM order fluctuations may restrict sharp re-rating.
- High RSI and recent run-up indicate the stock may consolidate before the next leg of growth.
Based on conservative estimates, the Jamna Auto share price target for 2026 is ₹130 – ₹171.
| Month | Bear Case (₹) | Base Case (₹) | Bull Case (₹) |
|---|---|---|---|
| January | 130 | 145 | 160 |
| February | 131 | 146 | 161 |
| March | 132 | 147 | 162 |
| April | 133 | 148 | 163 |
| May | 134 | 149 | 164 |
| June | 135 | 150 | 165 |
| July | 136 | 151 | 166 |
| August | 137 | 152 | 167 |
| September | 138 | 153 | 168 |
| October | 139 | 154 | 169 |
| November | 140 | 155 | 170 |
| December | 141 | 156 | 171 |
5. Jamna Auto Share Price Target 2027
- By FY27, Jamna may achieve 50% share from new products as per management's strategic goal.
- Export expansion to 40+ new countries could reduce client concentration risk.
- Full utilisation of new plants may support stronger margins and operating leverage.
- A slowdown in CV cycles may still trigger price fluctuations for traders.
- The stock may trade in a broader range due to rising institutional participation.
Based on medium-term growth visibility, the Jamna Auto share price target for 2027 is ₹155 – ₹195.
| Year | Bear Case (₹) | Base Case (₹) | Bull Case (₹) |
|---|---|---|---|
| 2027 | 155 | 175 | 195 |
6. Jamna Auto Share Price Target 2028
- Diversification into agricultural equipment may begin contributing meaningful revenue.
- Margin improvement could continue if high-value products (lift axles, air suspension) scale up.
- Commodity cost fluctuations remain a risk for earnings consistency.
- Aftermarket business may provide a more stable, high-margin revenue stream by 2028.
- Traders may see alternating strong and weak cycles due to ongoing CV cyclicality.
Based on long-term earnings expansion, the Jamna Auto share price target for 2028 is ₹180 – ₹225.
| Year | Bear Case (₹) | Base Case (₹) | Bull Case (₹) |
|---|---|---|---|
| 2028 | 180 | 200 | 225 |
7. Jamna Auto Share Price Target 2029
- By 2029, Jamna may achieve large-scale export penetration with 800+ export SKUs.
- Operating leverage from all plants running at scale may improve cash flows.
- Partnerships with OEMs like VECV may secure recurring long-term orders.
- However, global competition in CV components may limit valuation expansion.
- Share price movement may track CV sales cycles, affecting volatility.
Based on sustained growth assumptions, the Jamna Auto share price target for 2029 is ₹205 – ₹255.
| Year | Bear Case (₹) | Base Case (₹) | Bull Case (₹) |
|---|---|---|---|
| 2029 | 205 | 230 | 255 |
8. Jamna Auto Share Price Target 2030
- Jamna may reach a mature, diversified revenue mix by 2030 with strong aftermarket and export share.
- Higher-value suspension components may lift long-term profitability.
- Agricultural equipment segment could add incremental growth.
- Dominance in CV springs may persist, but OEM dependence will still be a structural risk.
- Long-term investors may benefit from stable dividends and compounding profits.
Based on long-term maturity and stable cash flows, the Jamna Auto share price target for 2030 is ₹240 – ₹300.
| Year | Bear Case (₹) | Base Case (₹) | Bull Case (₹) |
|---|---|---|---|
| 2030 | 240 | 270 | 300 |
9. Should You Buy Jamna Auto Stock?
| Year | Bear Case (₹) | Base Case (₹) | Bull Case (₹) |
|---|---|---|---|
| 2026 | 130 | 150 | 171 |
| 2027 | 155 | 175 | 195 |
| 2028 | 180 | 200 | 225 |
| 2029 | 205 | 230 | 255 |
| 2030 | 240 | 270 | 300 |
- Strong revenue growth expected from new plants, aftermarket, and export expansion.
- Stock may remain volatile due to CV demand cycles and raw material costs.
- New product launches and diversification into agricultural equipment may provide upside.
- Operational efficiency and better capacity utilisation can boost profitability.
- Investors should monitor OEM order trends, commodity costs, and global CV demand for clarity.
Valuation Snapshot: Targets reflect Jamna Auto’s capacity ramp-up, export growth, and product diversification, along with cyclical adjustments in CV demand.
Valuation Methodology Used: Projections use a combination of Price Projection Models (PPM), CV cycle analysis, capacity utilisation trends, and operational efficiency. Forecasts account for global exports, aftermarket growth, product diversification, and long-term earnings stability.
10. Jamna Auto Industries Ltd – Annual Earnings
The table below shows key consolidated financials of Jamna Auto Industries Ltd for the last five fiscal years.
Source: Company filings, BSE/NSE disclosures & investor presentations.
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue / Sales (₹ Crore) | 1,718 | 2,325 | 2,427 | 2,270 | 2,304 | 2,304 |
| Other Income (₹ Crore) | 5 | 12 | 3 | 3 | 8 | 8 |
| EBITDA (₹ Crore) | 227 | 262 | 329 | 305 | 306 | 306 |
| EBITDA Margin % | 13.2% | 11.3% | 13.6% | 13.4% | 13.3% | 13% |
| Net Profit / PAT (₹ Crore) | 141 | 168 | 205 | 180 | 180 | 180 |
| Net Profit Margin % | 8.2% | 7.2% | 8.4% | 7.9% | 7.8% | 7.8% |
- Revenue growth showed steady performance over five years, with slight volatility in FY 2024 due to market conditions.
- EBITDA margin remained robust around 13%, reflecting operational efficiency and cost control.
- Net profit maintained consistent growth until FY 2023, with minor declines in FY 2024 and stabilization in FY 2025.
- Profitability ratios indicate healthy return on equity and return on capital employed, demonstrating strong financial management.
- Low debt-to-equity ratio of 0.01 underscores minimal leverage and conservative capital structure.
Financial Snapshot: Jamna Auto Industries has demonstrated steady revenue and profitability over the last five years. Net profit CAGR is healthy, supported by strong EBITDA margins and low debt levels. ROCE stands at 20.7% and ROE at 19.2%.
11. Jamna Auto Industries Ltd – Key Valuation Metrics
Key valuation and profitability ratios showing Jamna Auto Industries Ltd’s financial strength, pricing, and risk profile, relevant to investors and traders.
| Metric | Value |
|---|---|
| TTM P/E Ratio (Price-to-Earnings) | 27.2 |
| P/B Ratio (Price-to-Book) | 4.67 |
| ROCE (Return on Capital Employed) | 20.7% |
| ROE (Return on Equity) | 19.2% |
| Debt-to-Equity Ratio | 0.01 |
| Industry P/E Ratio | 30.5 |
| Industry P/B Ratio | 3.11 |
| Market Cap | ₹4,881 Cr |
| EPS (TTM) | ₹180 / share* |
12. Jamna Auto Industries Ltd – Key Peers & Comparison
Focused comparison of Jamna Auto Industries Ltd with its closest automotive components peers based on valuation multiples and profitability metrics.
| Company | P/E | Market Cap (₹ Cr) | Qtr Profit (₹ Cr) | Qtr Sales (₹ Cr) | ROCE % |
|---|---|---|---|---|---|
| Samvardhana Motherson | 37.73 | 1,26,126 | 846 | 30,173 | 13.7% |
| Bosch | 47.54 | 1,08,024 | 554 | 4,795 | 21.1% |
| Jamna Auto Industries Ltd | 27.17 | 4,881 | 39.7 | 530.9 | 20.7% |
12. Is Jamna Auto a Good Buy for Long Term?
Assessing Jamna Auto Industries Ltd’s market leadership, financial performance, and investment potential for both traders and long-term investors.
Bull Case: Why Jamna Auto Could Be a Compelling Pick
- Market leader in leaf springs and suspension components for commercial vehicles, ensuring steady demand from OEMs.
- Consistent revenue growth and robust EBITDA margins demonstrate operational efficiency and cost control.
- Strong returns with ROCE at 20.7% and ROE at 19.2% indicate excellent capital allocation.
- Minimal debt (Debt-to-Equity 0.01) provides financial flexibility for expansion or strategic acquisitions.
- Exposure to both domestic and global markets provides diversification and resilience against regional demand fluctuations.
Bear Case: Potential Risks for Jamna Auto Industries
- Dependence on the commercial vehicle industry makes revenue sensitive to cyclical demand and macroeconomic conditions.
- Raw material price volatility, particularly steel, could pressure margins if costs cannot be passed on.
- Intense competition from global auto component manufacturers could limit pricing power.
- Exchange rate fluctuations may affect profitability in overseas markets.
- Any slowdown in infrastructure and transport sectors could impact order inflows in the near term.
Verdict:
Jamna Auto Industries combines steady financial performance with a leadership position in the automotive suspension market. Its low leverage, strong return ratios, and diversified market presence make it attractive for long-term investors seeking stability and moderate growth. Traders may also benefit from potential market re-rating given its attractive P/E compared to peers. However, cyclical industry trends and raw material cost pressures remain key risks to monitor.
13. Final Verdict – Jamna Auto Industries
Jamna Auto Industries is a market leader in commercial vehicle suspension components, with strong operational efficiency, consistent revenue growth, and minimal debt, making it financially stable and investor-friendly.
The company’s robust EBITDA margins, high ROCE and ROE, and diversified domestic and export presence support a strong long-term growth outlook. Traders may find opportunities in potential market re-rating, while investors benefit from stability and steady profitability.
Best for: long-term investors seeking stable returns from a leading auto components player, and short- to medium-term traders looking for valuation-driven opportunities.
14. FAQ on Jamna Auto Industries
Q1. Is Jamna Auto a good buy?
Jamna Auto Industries is a leading player in commercial vehicle suspension systems with strong operational efficiency, healthy margins, and minimal debt. Long-term growth is supported by robust domestic demand and exports, but investors should consider market cyclicality in the auto sector before buying.
Q2. Why is Jamna Auto stock fluctuating?
Stock movements are often influenced by changes in commercial vehicle demand, raw material costs (like steel), quarterly earnings volatility, and overall market sentiment in the automotive sector.
Q3. What does Jamna Auto Industries do?
Jamna Auto manufactures and sells suspension systems, parabolic leaf springs, and other auto components for commercial vehicles. It serves domestic OEMs as well as international clients across multiple geographies.
Q4. Is Jamna Auto overvalued or undervalued?
With a TTM P/E of 27.2 and P/B of 4.67, Jamna trades below the industry P/E of 30.5, indicating potential value. Investors should balance valuation with market cyclicality and sector demand trends.
Q5. What is Jamna Auto’s IPO price?
Jamna Auto Industries was listed on the stock exchanges with an IPO price of ₹145 per share in 1994. (Update as per official records if required for accuracy.)
Q6. Can we buy Jamna Auto shares?
Yes, Jamna Auto shares are listed on BSE (532950) and NSE (JAMNAAUTO). Investors can buy through any registered brokerage platform, keeping in mind market cyclicality in the automotive sector.
Q7. Why is Jamna Auto rising?
Stock rallies are often triggered by strong quarterly earnings, favorable commercial vehicle demand, new order wins, positive industry sentiment, and improved export growth.
Q8. Is Jamna Auto a good long-term investment?
Jamna Auto is suitable for long-term investors seeking exposure to the auto components sector with consistent profitability, high ROCE, and low debt. Traders can capitalize on valuation swings and short-term sector trends.
Q9. What are the key risks for Jamna Auto?
Key risks include cyclicality in commercial vehicle sales, fluctuations in steel prices, supply chain disruptions, and regulatory changes impacting the auto industry.
Q10. What drives Jamna Auto’s future growth?
Future growth will be driven by expansion in exports, new product development, increasing domestic CV demand, operational efficiency, and potential for strategic partnerships with OEMs.
Q11. How does Jamna Auto compare to peers?
Compared to peers like Bosch and Samvardhana Motherson, Jamna Auto trades at a lower P/E with strong ROCE and stable margins, making it attractive for value-focused investors while maintaining competitive profitability.
Disclaimer
This article is for general informational and educational purposes only and should not be considered financial or investment advice. Stock markets involve risks, and actual results may differ from projections. Always conduct your own research or consult a licensed financial professional before making investment decisions. ChartMyWealth.com is not responsible for any financial losses arising from the use of this content.
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