Jullundur Motor Agency (Delhi) Limited

JMA.NS

Auto - Parts · Consumer Cyclical

Exchange

National Stock Exchange of India

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Strong

Cash Flow

Mixed

Stability

Good

Valuation

Good

Dividends

Mixed

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Winston Score History

The full picture

Jullundur Motor Agency (Delhi) Limited, commonly known as JMA, is an Indian auto parts distributor and retailer based in New Delhi. The company sells a wide range of automotive components, accessories, and related products, serving vehicle owners, mechanics, and repair workshops across India. It operates in the consumer cyclical sector, meaning its business tends to rise and fall with how much money people have to spend on their vehicles.

JMA earns revenue primarily through the sale and distribution of auto parts, acting as a middleman between manufacturers and end customers. The company operates mainly in northern India, with its roots in Delhi, and has a market capitalization of around $2 billion. Its competitive position relies on long-standing supplier relationships and regional distribution reach built over many decades. The main growth driver is India's expanding vehicle fleet and rising demand for aftermarket parts, but thin margins — around 9% gross and 5% operating — leave little room for error if costs rise or competition intensifies.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+8.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-3.0% YoY

YoY Growth Rate

Earnings declining

Insider Activity

51.0%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

₹0 cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Jullundur Motor Agency (Delhi) Limited is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

8.5%

Thin — 8.5% gross margin

Profit after running costs

Operating Margin

5.3%

Thin — 5.3% operating margin

Return on the money invested

ROCE

12.8%

Good — 12.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+13.7%

Fast-growing sales (+13.7% YoY)

Profit growth

EPS YoY

+22.2%

Earnings growing fast (+22.2% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

60%

Modest — 60% of profit becomes cash

Spare cash per sale

FCF Margin

2.9%

Thin free cash flow (2.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

6.4x

no trend

Attractive valuation — P/E 6.4

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

2.24%

no trend

Moderate income — 2.24% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+0.0%

no trend

Dividend flat

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