JTL Defence Limited
BSE: JTLDEFENCE · Aerospace & Defense · sector
₹571.45BSE close 2026-10-26
Key numbers
Market cap₹776 cr
Price₹571.45
52w high / low₹924 / ₹221
P/E119.8xSector median 75.3x
P/B4.0xSector median 8.2x
Book value₹144.4
Dividend yield–Sector median 0.15%
ROE2.7%Sector median 12.6%
ROCE1.0%Sector median 13.7%
OPM20.9%Sector median 20.9%
Debt / equity0.30xSector median 0.11x
EV/EBITDA98.6xSector median 59.6x
Interest cover1.3x
Current ratio2.86x
Sales growth 3y-5.7%Sector median +15.9%
Profit growth 3y–Sector median +32.2%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 29 companies in Aerospace & Defense (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1 cr vs borrowings ₹60 cr (FY26): borrowings are higher by ₹58 cr.
- Operating profit covered interest 1.3x in the last 12 months.
- Operating cash flow was below net profit in 2 of the last 4 years (FY26, FY25).
- Net loss in 6 of the last 8 quarters.
- Other income was 309% of net profit in the last 12 months.
- Debtor days went from 1,847 (FY24) to 384 (FY26).
- No dividend in the last 5 financial years.
- Price ₹571.45 on 2026-10-26: -38.2% from the 52-week high, +158.2% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹888.35 · low ₹282.40
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 4 | 0 | 15 | 21 |
| EBITDA | -0 | -0 | -1 | -2 | 1 | 1 | 4 | 2 |
| OPM % | -78.3% | -12.8% | -453.3% | – | 31.3% | 255.3% | 24.2% | 11.6% |
| Other income | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 |
| Net profit | -1 | -1 | -2 | -3 | 2 | -0 | 2 | -3 |
| EPS (₹) | 0.88 | 0.91 | 1.31 | 1.89 | 1.00 | 0.02 | 1.21 | 2.54 |
| Revenue YoY | +1,456.5% | 0.0% | +10,060.0% | – | ||||
| Profit YoY | – | – | – | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 60 | 23 | 2 | 1 | 19 | 41 |
| EBITDA | -61 | -7 | -2 | -1 | 4 | 8 |
| Net profit | -72 | -17 | -9 | -6 | 0 | 1 |
| EPS (₹) | -45.99 | 10.97 | 5.88 | 4.11 | 0.19 | 4.77 |
| Revenue growth | -61.4% | -90.1% | -57.2% | +1,868.4% | +4,682.0% | |
| Profit growth | – | – | – | – | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -5.7% | – | +4,682.0% |
| Net profit | – | – | – |
| EPS | -74.1% | – | – |
| Share price | – | – (2y) | – |
Balance sheet
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Shareholders' equity | -139 | -148 | -154 | 196 |
| Borrowings | 236 | 236 | 236 | 60 |
| Cash & equivalents | 4 | 10 | 1 | 1 |
| Total assets | 109 | 106 | 91 | 330 |
| Fixed assets | 56 | 48 | 42 | 236 |
| Capital work in progress | 6 | 6 | 6 | 4 |
| Investments | 12 | 12 | 12 | 12 |
| Receivables | 12 | 12 | 11 | 20 |
| Inventory | 1 | 0 | 0 | 34 |
| Payables | 4 | 4 | 4 | 25 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Cash from operations | 1 | 5 | -8 | -15 |
| Cash from investing | 1 | 1 | 0 | -8 |
| Cash from financing | 1 | 0 | 0 | 23 |
| Capex | 0 | 0 | 0 | 8 |
| Free cash flow | 1 | 5 | -8 | -23 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ROE % | 12.4% | 6.2% | 4.2% | 0.1% |
| ROCE % | -13.0% | -11.2% | -7.8% | 0.4% |
| Debtor days | 188 | 1,847 | 4,169 | 384 |
| Inventory days | 13 | 195 | 1,742 | 1,633 |
| Payable days | 66 | 1,851 | 17,077 | 1,214 |
| Cash conversion cycle (days) | 135 | 191 | -11,166 | 803 |
| Working capital days | -3,111 | -31,430 | -73,969 | 905 |
Peers in Aerospace & Defense
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| HAL | ₹3,19,342 cr | 34.3x | 7.8x | 24.5% | 30.2% | 29.6% | +7.1% | 1.05% |
| BEL | ₹2,65,346 cr | 43.2x | 11.1x | 28.0% | 34.1% | 28.6% | +15.9% | 0.79% |
| BDL | ₹37,719 cr | 72.4x | 8.9x | 12.6% | 16.8% | 12.7% | -0.6% | 0.51% |
| GRSE | ₹21,411 cr | 26.7x | 8.2x | 34.0% | 41.2% | 11.1% | +39.8% | 0.95% |
| DATAPATTNS | ₹21,133 cr | 78.8x | 12.2x | 16.5% | 21.4% | 39.3% | +26.8% | 0.21% |
| AEQUS | ₹16,257 cr | – | 10.9x | -7.6% | 1.1% | 7.6% | – | – |
| APOLLO | ₹15,269 cr | 118.8x | 11.6x | 12.7% | 11.6% | 22.6% | +44.9% | 0.06% |
| ASTRAMICRO | ₹14,226 cr | 75.3x | 10.8x | 15.7% | 18.6% | 28.6% | +12.6% | 0.15% |
| ZENTEC | ₹13,947 cr | 77.1x | 7.4x | 10.3% | 14.6% | 32.6% | +46.5% | 0.13% |
| JTLDEFENCE | ₹776 cr | 119.8x | 4.0x | 2.7% | 1.0% | 20.9% | -5.7% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2018-11-20 | Dividend | Interim Dividend Rs 0.5 |
| 2018-07-12 | Dividend | Final Dividend Rs 0.5 |
| 2017-12-07 | Dividend | Interim Dividend Rs 0.5 |
Documents
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Aerospace & Defense |
| Sub-industry | Aerospace & Defense |
| Symbol | JTLDEFENCE |
| BSE code | 537254 |
| ISIN | INE140B01048 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from BSE company filings (inline XBRL: Integrated Filing - Finance) + BSE results summary for earlier years; price = BSE close 2026-10-26.