JTEKT India Limited (JTEKTINDIA.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-170.7%

-₹82.01

vs ₹116.00 price

Levered DCF

-₹108.22

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	41.39×	41.82×	43.53×	30.21×	48.78×	171.52×	31.13×	36.23×
P/B	2.68×	3.5×	5.54×	3.53×	2.79×	3.36×	1.58×	4.45×
P/S	1.19×	1.29×	2.03×	1.21×	1.11×	1.51×	0.63×	1.52×
EV / EBITDA	15.88×	17.44×	19.63×	13×	13.56×	18.45×	6.62×	11.61×
Gross margin	13.4%	27.5%	27.9%	29.2%	25.6%	26.5%	28.4%	29.5%
Operating margin	3.8%	17.2%	17.1%	5.6%	3.6%	1.6%	3.1%	7.2%
Net margin	2.9%	3.1%	4.8%	4.3%	2.3%	0.9%	2.0%	4.2%
Current ratio	1.23×	1.11×	1.65×	1.84×	1.68×	1.73×	1.64×	1.33×
Debt / equity	0.29×	0.18×	0.14×	0.09×	0.11×	0.08×	0.13×	0.32×
Interest coverage	6.77×	39.93×	62.78×	23.98×	15.47×	4.58×	4.65×	8.08×
Dividend yield	0.6%	0.5%	0.4%	0.6%	0.3%	0.4%	2.8%	1.0%
Payout ratio	23.4%	20.6%	17.0%	16.4%	12.7%	75.9%	87.7%	37.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.5%	8.6%	13.0%	12.4%	5.8%	2.0%	5.1%	12.3%
Return on invested capital	4.8%	28.9%	29.6%	10.6%	5.6%	2.1%	5.3%	9.6%
Return on assets	3.9%	5.1%	8.4%	8.1%	3.7%	1.3%	3.4%	6.7%
Free cash flow yield	-11.1%	-2.6%	-0.5%	-0.1%	-0.8%	2.7%	8.9%	4.2%
Earnings yield	2.4%	2.4%	2.3%	3.5%	2.1%	0.6%	3.2%	2.8%
Enterprise value	₹34.8B	₹32.2B	₹45.9B	₹25B	₹17.7B	₹20B	₹9.6B	₹27.1B
Net debt / EBITDA	1.38×	0.76×	0.17×	0.08×	0.07×	-0.16×	0.13×	0.29×
Cash conversion cycle (days)	38	33	39	42	39	43	38	30