JUJHAR LOGISTICS LIMITED

Consumer Cyclical — Textile Manufacturing · BSE

₹202.95+₹18.45 (+10.00%)

DalalBaazaar Score

68 / 100

🟢 Good

Verdict

REASONABLE

Risk

Moderate

Driven by negative free cash flow, micro-cap size, which brings thin liquidity.

In simple words: Strong business and financial position, with both sales and profits growing well. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:02 pm

Understanding the Business

Company site ↗

The 60-second version of JUJHAR LOGISTICS LIMITED — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Jujhar Logistics Limited provides car carriers logistics services in India. It engages in the transportation of motor vehicles by road on purpose-built trailers for original equipment manufacturers and logistics service providers.

IndustryTextile Manufacturing

SectorConsumer Cyclical

Annual revenue₹75 Cr

How does it make money?

Turns over ₹75 Cr a year. Of every ₹100 of sales, about ₹6 reaches shareholders as profit, with ₹24 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are MARUTI SUZUKI INDIA LTD., TITAN COMPANY LIMITED, TRENT LTD, AVENUE SUPERMARTS LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 13.2% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE25.9%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +47% while net margin moved -849% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+47%

Margin effect-849%

DalalBaazaar Score

68/ 100

Good

Weighted across six categories. Every point is explained below.

✓ Beta of -0.25 — historically steadier than the index
✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✗ Profits have swung sharply from year to year — earnings are hard to forecast
✗ Negative free cash flow means dependence on external funding

Quality vs. Valuation

Company Quality

71/ 100

Good

How good the business is, ignoring the share price entirely.

Valuation

76/ 100

Cheap

What you are being asked to pay, ignoring how good the business is.

A good business currently available at an undemanding price — the combination this framework is built to look for.

Historical Valuation

Current P/E

4.3x

Sector Median

69.2x

median of 4 sector peers

🟢Against its sector it trades 94% below the peer median of 69.2x.

vs. its own history

Not enough price and earnings history

vs. sector peers

Cheap

69.2x median of 4 peers · -94%

vs. generic bands

Cheap

Below 15x

EV/EBITDA

11.2x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Margins are improving
EBITDA margin is up from 2.5% to 23.5% over 3 years.
Return on equity is rising
ROE has improved from -24.5% to 8.5%.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

3 items require attention · 3 watch

🟡Debt is increasingFinancial
Total debt is up 35% over 3 years.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹68 Cr in the latest year.
🟡Shareholders have been dilutedOwnership
Shares outstanding are up 200% over 3 years — each existing share owns a smaller slice of the company.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from 2.5% to 23.5%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Cheaper than its peers
It trades 94% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.

🔴 Bear CaseWhat could go wrong?

Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Revenue growth stays above 10% a year✓ 13.8% CAGR
Latest reported year was 18865.3%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 22%✓ 23.5%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Free cash flow remains positive✗ -₹68 Cr
Profit that never becomes cash eventually stops being profit.
4Debt / EBITDA stays below 2x✓ 1.2x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
5ROCE stays above 10%✓ 13.2%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

8 / 11 checks passed

✓ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✓ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

6 good · 4 neutral · 1 weak

Market Cap

₹187 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

4.3x

Cheap

Cheap against the generic band

P/B Ratio

3.45x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹47.42

Profitable

Profitable on a per-share basis

ROE

28.1%

Strong

Strong capital efficiency

ROCE

13.2%

Moderate

Moderate return on the capital in the business

Debt/Equity

0.36x

Low

Conservative leverage

Revenue Growth (YoY)

18865.3%

Healthy

Healthy top-line growth

Profit Growth (YoY)

496.2%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹68 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

14.6%

Average

Average margins

Net Margin

10.9%

Good

Strong bottom-line conversion

Current Ratio

1.42

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.25

Defensive

Steadier than the market

52W Range Position

54%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

207.4 / 230.3

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

32.0

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹51 Cr	₹41 Cr	₹23 Cr	₹75 Cr	+13.8%
EBITDA	₹1 Cr	-₹0 Cr	-₹1 Cr	₹18 Cr	+138.7%
EBITDA Margin	2.5%	-0.2%	-2.2%	23.5%	—
PAT (Net Profit)	-₹0 Cr	-₹1 Cr	-₹1 Cr	₹4 Cr	—
EPS	₹-1.29	₹-2.39	₹-3.59	₹8.27	—
ROE	-24.5%	-83.2%	—	8.5%	—
ROCE	12.5%	7.2%	-4.2%	13.2%	—
Total Debt	₹16 Cr	₹12 Cr	₹6 Cr	₹21 Cr	+10.4%
Free Cash Flow	-₹0 Cr	₹1 Cr	-₹8 Cr	-₹68 Cr	—

🟢 Revenue has grown at 13.8% a year over 3 years.

🟢 EBITDA has grown at 138.7% a year over 3 years.

🟢 EBITDA Margin has risen from 2.5% to 23.5% over 3 years (+21.0 pts).

🟢 PAT (Net Profit) has turned positive, from -₹0 Cr to ₹4 Cr.

🟢 EPS has turned positive, from ₹-1.29 to ₹8.27.

🟢 ROE has risen from -24.5% to 8.5% over 3 years (+33.0 pts).

🟡 ROCE has held roughly flat at 13.2% over 3 years.

🔴 Total Debt has grown at 10.4% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹141 Cr

Total Liabilities

₹53 Cr

Cash & Equivalents

₹10 Cr

Operating Cash Flow

₹35 Cr

Capex

-₹102 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

89.9%

Peer Comparison

Company	P/E	ROE
MARUTI SUZUKI INDIA LTD.	25.2x	13.4%
TITAN COMPANY LIMITED	68.5x	36.7%
TRENT LTD	87.2x	25.9%
AVENUE SUPERMARTS LIMITED	69.9x	12.7%

Recent News

1 positive2 mixed3 general

JUJHARLOGI Stock Price and Chart — BSE:JUJHARLOGI

TradingView, 28 Aug

Jujhar Logistics (BSE:534796) Stock Valuation, Peer Comparison & Price Targets

Simply Wall Street, 26 May

Jujhar Logistics Ltd Q2 Results 2026 - Find Jujhar Logistics Ltd Q2 Earnings Result | Jujhar Logistics Ltd Q2 results

Livemint, 02 SeptResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Jujhar Logistics FY26 Results: Consolidated revenue up 224% to ₹7,487.8 lakh

scanx.trade, 03 SeptResults

🟢Potentially positiveReported improvement. Check whether it came from volume, price or a one-off item before treating it as a trend.

Jujhar Logistics (BSE:534796) - Stock Analysis

Simply Wall Street, 26 May

Jujhar Logistics Ltd Q3 Results 2026 - Find Jujhar Logistics Ltd Q3 Earnings Result | Jujhar Logistics Ltd Q3 results

Livemint, 02 SeptResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

StrongBusiness Quality · Financial Health · Growth · Profitability · Valuation

WeakRisk

Points for each in the Score ↑

Attractive on both counts

A good business currently available at an undemanding price — the combination this framework exists to look for. The work left is qualitative: whether the advantage the numbers imply is one you can identify and expect to last.

1 of 5 tripwires tripped — Free cash flow remains positive · see Key things to watch ↑