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Jullundur Motor Agency (Delhi) Limited (JMA) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹2.0B

JM Jullundur Motor Agency (Delhi) Limited JMA · NSE
Price₹89.20
Fair Value₹104.17
Upside+16.8%
Quality64/100
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Healthy Growth
Thin margins · 4.9% net margin
Low debt · generates free cash flow
Ranks above peers (13/14)
Narrow moat 38/100
Evidence: High Range ₹65.58 – ₹149.10 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from ₹151.24 to ₹104.17 (−31.1%) since Aug 6, 2026. Share price −0.1% over the past month.

A solid business, screening 17% undervalued on our models.

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What matters now

  • A fairly wide model range (₹65.58 to ₹149.10) leaves room in how you read the outcome.
  • Our model range runs from ₹65.58 (bear) to ₹149.10 (bull), base ₹104.17. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 64/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹128.92 ₹33.90 Fair Value ₹104.17 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹33.90 – ₹128.92 · fair‑value band ₹65.58 – ₹149.10 · the ₹89.20 price screens below the ₹104.17 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Jullundur Motor Agency (Delhi) Limited (JMA) currently trades at ₹89.20, while our model-based Fair Value estimate is ₹104.17, implying the stock looks roughly 16.8% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Jullundur Motor Agency (Delhi) Limited generated revenue of ₹6.1B at a net margin of 4.9%. Revenue grew 19.5% year over year. It earns a return on equity of 11.5%. The balance sheet holds a net cash position of ₹209M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹65.58 (bear case) to ₹149.10 (bull case); at ₹89.20, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 9% below its 52-week high and 27% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -52% fair-value upside, at 17%, JMA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹83.52 ₹113.72 ₹151.61 80
Residual Income ₹101.14 ₹111.40 ₹154.60 76
Rev-Margin DCF ₹108.78 ₹174.89 ₹250.92 74
All 26 models by family
DCF Models
FCF DCF ₹83.08 ₹117.98 ₹164.73 38
Owner Earnings ₹130.03 ₹186.21 ₹261.45 31
5Y Revenue Exit ₹108.78 ₹175.41 ₹260.96 39
5Y EBITDA Exit ₹105.33 ₹168.94 ₹243.14 41
5Y P/E Exit ₹150.93 ₹254.45 ₹363.75 38
10Y Revenue Exit ₹93.94 ₹148.68 ₹222.86 36
10Y EBITDA Exit ₹95.15 ₹144.57 ₹210.40 37
10Y P/E Exit ₹121.77 ₹198.89 ₹294.68 35
Earnings-Based
Graham-Dodd ₹88.44 ₹280.02 ₹373.05 54
Lynch FV ₹61.54 ₹87.92 ₹114.29 50
PEG = 1.0 ₹61.54 ₹87.92 ₹114.29 46
EPV ₹81.39 ₹91.66 ₹100.22 59
Dividend Discount
Gordon GGM ₹15.93 ₹28.70 ₹39.51 70
DDM Multi-Stage ₹15.93 ₹24.96 ₹30.66 61
Multiples
P/E Multiple ₹214.59 ₹286.12 ₹357.65 63
P/S Multiple ₹165.82 ₹221.09 ₹276.37 58
P/B Multiple ₹165.82 ₹221.09 ₹276.37 55
EV/EBIT ₹193.44 ₹255.90 ₹318.35 53
EV/EBITDA ₹134.91 ₹177.85 ₹220.79 54
EV/Revenue ₹132.37 ₹186.50 ₹240.63 43
Asset-Based
NCAV (Graham) ₹60.13 ₹80.57 ₹120.26 50
Growth DCF
Growth DCF ₹83.52 ₹113.72 ₹151.61 80
Rev-Margin DCF ₹108.78 ₹174.89 ₹250.92 74
Economic Profit
Residual Income ₹101.14 ₹111.40 ₹154.60 76
ROIC Compounder ₹81.39 ₹91.66 ₹100.22 72
Growth Earnings
Growth-Adj P/E ₹177.62 ₹253.74 ₹329.86 68

Widest divergence: Growth Earnings (₹253.74) versus Dividend Discount (₹24.96). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹6.1B
Revenue growth (YoY) +19.5%
Net margin 4.9%
Return on equity 11.5%
Free cash flow ₹187M FY2026
P/E ratio 6.9
More key figures
Operating margin 5.9%
EPS (TTM) ₹13.01
EPS growth (YoY) +31.1%
Net cash ₹209M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 63 · Market factors (momentum, volatility) 58

Profitability 51
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Jullundur Motor Agency (Delhi) Limited trades and distributes automobile parts, accessories, and petroleum products primarily in India.

Full company description

Jullundur Motor Agency (Delhi) Limited trades and distributes automobile parts, accessories, and petroleum products primarily in India. The company offers brake equipment and friction range products, including air and hydraulic brake parts, brake fluids and linings, disc pads, and lined shoes; and engine components, such as crankshafts, cylinder liners, engine oil and valves, gaskets, radiators, cabins, air filters, engine bearings and bushes, thrust washers, timing belts and kits, turbo chargers, valve guides and tappets, and water and oil pumps. It also provides steering and suspension components, including half shafts, manual steering gears, power steering assemblies and pumps, suspension bush kits, shocks absorbers, struts and dampers, tie rod ends, suspension kits, and steering linkages; and bearings, such as ball, clutch, king pin, needle, steering, tapper roller, and wheel bearings. In addition, the company offers clutch and transmission products, including clutch drive and pressure plates, clutch release bearings and systems, flywheel assy and starter ring gears, gear, TQ, and transmission oil; and other parts, such as A/C gas, coolants, dickey shockers, fasteners (nuts and bolts), fuel filters, fuel pump motors, hose clamps, lubricants and grease, module reservoir assy, rubber parts, and window balancer. Jullundur Motor Agency (Delhi) Limited was founded in 1927 and is based in Gurugram, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Jullundur Motor Agency (Delhi) Limited reported revenue of ₹6.2B in FY2026 versus ₹4.4B in FY2022, a compound +9.3%/yr. Reported net income was ₹297M in FY2026, compounding +5.2%/yr from FY2022.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹6.2B
Latest YoY
+11.9%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.0%
Avg. growth/yr (13Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.6%
Revenue +9.3%/yr
FY22 ₹4.4B
FY23 ₹5.0B
FY24 ₹5.3B
FY25 ₹5.6B
FY26 ₹6.2B
Net income +5.2%/yr
FY22 ₹242M
FY23 ₹270M
FY24 ₹256M
FY25 ₹257M
FY26 ₹297M
Character of growth · EPS growth decomposed (2015-2026) +10.8 % p.a.
Revenue per share +7.7 pp

of which total revenue +4.6 pp · buybacks/dilution +3.1 pp

EBIT margin +0.9 pp
Tax rate +1.2 pp
Residual (interest, one-offs) +1.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Jullundur Motor Agency (Delhi) Limited Fair Value". https://www.fairvalue-calculator.com/stock/JMA

Peer Group

Auto Parts · 639 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 64 · Top 25%
Fair Value upside +17% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth 20% · Top 25%
Dividend yield (TTM) 2.3% · Above median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 6.9× · Cheaper than 75% of peers
P/B 0.73× · Cheaper than 75% of peers
P/S (TTM) 0.33× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 5.6× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 56 · sector 17
FUTURE 98 · sector 24
PAST 46 · sector 26
HEALTH 99 · sector 95
DIVIDEND 47 · sector 34

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Uno Minda Limited UNOMINDA ₹1,232 ₹426.57 -65%
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Frequently asked questions

Is Jullundur Motor Agency (Delhi) Limited (JMA) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹104.17 versus a price of ₹89.20, about +17% (undervalued).
What is the fair value of JMA?
Our model-based fair value for Jullundur Motor Agency (Delhi) Limited is ₹104.17 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹89.20.
What is the quality score of JMA?
Jullundur Motor Agency (Delhi) Limited has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Jullundur Motor Agency (Delhi) Limited (JMA)?
Jullundur Motor Agency (Delhi) Limited reported trailing-twelve-month revenue of about ₹6.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of JMA?
The net profit margin of Jullundur Motor Agency (Delhi) Limited is about 4.9%, meaning it keeps roughly 4.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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