JBM Auto targets ₹7,000–7,500 crore FY27 revenue, with EVs contributing 45%
JBM Auto expects its EV business to generate more than ₹3,000–3,200 crore in FY27, supported by an order book of over 9,000 electric buses. The largely domestic orders are slated for execution over the next two-and-a-half years.
What happened
JBM Auto expects FY27 revenue of ₹7,000–7,500 crore, with EVs contributing 45%. Its 9,000-plus electric-bus order book is predominantly domestic and will be
Key facts
- FY27 revenue target: ₹7,000–7,500 crore
- EV business share target: 45% of FY27 revenue
- EV revenue target: over ₹3,000–3,200 crore
- EV order book: over 9,000 buses
- Order execution timeline: 2.5 years
- Electric-bus capacity: 20,000 buses annually
- April-June 2026 revenue: ₹1,442 crore, up 15% YoY
- April-June 2026 net profit: ₹42.4 crore, up 16% YoY
- EBITDA: ₹195 crore, up 9% YoY
- EBITDA margin: 13.5% versus 14.4% YoY
- Debt reduced: about ₹500 crore in Q1
- JBM Eco Life Mobility funding: ₹750 crore
- Domestic share of orders: over 95%
Why this matters
JBM Auto’s domestic electric-bus pipeline strengthens the case for partnerships or acquisitions in charging, fleet services, battery systems and localized EV supply chains that can de-risk large-scale execution.
What to watch
- Quarterly electric-bus delivery volumes versus the implied pace needed to execute more than 9,000 units in about two-and-a-half years.
- New state transport undertaking tenders, award announcements and contract execution timelines.
- Government payment receivables, subsidy releases and financing availability for electric-bus operators.
- Depot charging readiness, grid-connection approvals and service-network rollout.
- EV segment margin, battery procurement costs and any disclosed order cancellations or deferrals.
- Expand electric-bus assembly capacity and localize high-value components to support order-book execution.
- Build depot charging, maintenance and spare-parts networks near major state transport deployments.
- Strengthen fleet-financing, leasing and annuity-style operating partnerships to reduce customer capex barriers.
- Manage working capital and supplier capacity carefully, given the concentration of large domestic institutional orders.
- Pursue follow-on orders in intercity, airport, employee-transport and private fleet segments to diversify beyond public procurement.