Jaro Institute of Technology Management and Research Ltd.

•

₹ 443.10.69%

2026-08-21

jaro.inBSE: 544534NSE: JARO

Market Cap₹ 978 Cr.

Current Price₹ 440

High / Low₹ 890 / 384

Stock P/E25.8

Book Value—

Price to Book—

Dividend Yield1.14 %

ROCE44.2 %

ROE40.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Company has a healthy return on capital (ROCE) of 37.5%
Company has a good return on equity (ROE) track record: 3 Years ROE 36.9%
Company comfortably covers its interest (11.3x coverage)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.04x)
Working capital days have increased from 130 to 184 days
Recurring exceptional / one-off items are inflating headline profit
Though reporting repeated profits, the company pays out little dividend (4.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Consumer ServicesEducation & TrainingEducational Institutions

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	PWL	122.00	1736.12	35390.82	0.00	-882.80	-595.06	10539.50	1144.20	-17.62	-5.41
2.	SEIL	211.00	584.50	3397.10	0.00	2.82	-2.76	16.30	7.51	14.21	26.28
3.	CRIZAC	171.65	13.62	3003.57	4.66	46.17	0.77	201.21	-3.97	52.73	30.40
4.	VERANDA	233.50	15.59	2249.79	0.00	33.87	467.88	149.54	7.37	22.75	35.96
5.	JARO	439.35	25.76	978.45	1.14	11.17	48.33	70.75	16.60	25.32	21.43
6.	GLOBAL	107.58	21.00	547.60	0.93	3.75	-11.05	14.21	-4.15	29.17	41.68
7.	CPEDU	204.90	15.63	372.77	0.00	8.08	12.54	14.35	-1.17	40.71	64.15
8.	CPCAP	122.65	4.95	223.14	0.00	13.31	23.50	21.95	47.39	9.83	93.11
9.	TREEHOUSE	6.21	0.00	26.27	0.00	-2.13	-233.00	1.15	-20.14	-1.48	-212.70
10.	VIRTUALG	0.45	0.00	25.48	0.00	0.07	133.33	0.26	—	-0.46	32.57

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024
	85	122	199
	68	98	138
Operating Profit	19	26	66
OPM %	22	22	33
Other Income	2	2	5
Interest	5	5	5
Depreciation	3	5	7
	37	16	52
Tax %	10	27	27
Net Profit	33	11	38
EPS	16	6	25
Dividend Payout %	0	0	4
Minority Interest	-0	-0	0
Share of Associates	0	0	0
Adjusted EPS	17	6	19
Minority Interest	-0	-0	0
Share of Associates	0	0	0
Adjusted EPS	17	6	19

Mar 2022

: 85
: 68
Operating Profit: 19
OPM %: 22
Other Income: 2
Interest: 5
Depreciation: 3
: 37
Tax %: 10
Net Profit: 33
EPS: 16
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 17
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 17

Mar 2023

: 122
: 98
Operating Profit: 26
OPM %: 22
Other Income: 2
Interest: 5
Depreciation: 5
: 16
Tax %: 27
Net Profit: 11
EPS: 6
Dividend Payout %: 0
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 6

Mar 2024

: 199
: 138
Operating Profit: 66
OPM %: 33
Other Income: 5
Interest: 5
Depreciation: 7
: 52
Tax %: 27
Net Profit: 38
EPS: 25
Dividend Payout %: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 19
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 19

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 37%
Last Year:: 41%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024
LIABILITIES	-	-	-
Equity Capital	15	15	15
	48	59	97
	16	26	24
Trade Payables	12	20	21
	60	72	63
Total Liabilities	150	192	220
ASSETS	-	-	-
	25	29	17
	0	0	12
Cash & Bank	9	13	19
	116	149	172
Total Assets	150	192	220
Total Debt	25	38	25
Net Working Capital	33	43	100
Contingent Liabilities	0	0	7
Book Value per Share	41.62	49.24	74.37
Face Value	10.00	10.00	10.00
Total Debt	25	38	25
Net Working Capital	33	43	100
Contingent Liabilities	0	0	7
Book Value per Share	41.62	49.24	74.37
Face Value	10.00	10.00	10.00

Mar 2022

Equity Capital: 15
: 48
: 16
Trade Payables: 12
: 60
Total Liabilities: 150
: 25
: 0
Cash & Bank: 9
: 116
Total Assets: 150
Total Debt: 25
Net Working Capital: 33
Contingent Liabilities: 0
Book Value per Share: 41.62
Face Value: 10.00
Total Debt: 25
Net Working Capital: 33
Contingent Liabilities: 0
Book Value per Share: 41.62
Face Value: 10.00

Mar 2023

Equity Capital: 15
: 59
: 26
Trade Payables: 20
: 72
Total Liabilities: 192
: 29
: 0
Cash & Bank: 13
: 149
Total Assets: 192
Total Debt: 38
Net Working Capital: 43
Contingent Liabilities: 0
Book Value per Share: 49.24
Face Value: 10.00
Total Debt: 38
Net Working Capital: 43
Contingent Liabilities: 0
Book Value per Share: 49.24
Face Value: 10.00

Mar 2024

Equity Capital: 15
: 97
: 24
Trade Payables: 21
: 63
Total Liabilities: 220
: 17
: 12
Cash & Bank: 19
: 172
Total Assets: 220
Total Debt: 25
Net Working Capital: 100
Contingent Liabilities: 7
Book Value per Share: 74.37
Face Value: 10.00
Total Debt: 25
Net Working Capital: 100
Contingent Liabilities: 7
Book Value per Share: 74.37
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024
	11	3	-17
Cash from Investing	-6	-8	47
Cash from Financing	1	5	-19
	6	-0	11
Free Cash Flow	11	-7	-17
OCF / Net Profit	0.32	0.25	-0.45
Cumulative 5-Year FCF	0	0	0
OCF / Net Profit	0.32	0.25	-0.45
Cumulative 5-Year FCF	0	0	0

Mar 2022

: 11
Cash from Investing: -6
Cash from Financing: 1
: 6
Free Cash Flow: 11
OCF / Net Profit: 0.32
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.32
Cumulative 5-Year FCF: 0

Mar 2023

: 3
Cash from Investing: -8
Cash from Financing: 5
: -0
Free Cash Flow: -7
OCF / Net Profit: 0.25
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.25
Cumulative 5-Year FCF: 0

Mar 2024

: -17
Cash from Investing: 47
Cash from Financing: -19
: 11
Free Cash Flow: -17
OCF / Net Profit: -0.45
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.45
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024
PER SHARE	-	-	-
EPS (₹)	21.99	7.70	25.25
Book Value (₹)	41.62	49.24	74.37
Dividend per Share (₹)	0.00	0.00	1.00
Cash EPS (₹)	17.90	8.38	22.38
PROFITABILITY	-	-	-
Operating Margin %	22.04%	21.53%	30.89%
Net Margin %	39.22%	9.35%	19.10%
ROE %	53.00%	16.71%	40.89%
ROCE %	47.71%	20.67%	44.23%
	22.18%	6.70%	18.49%
EFFICIENCY	-	-	-
Debtor Days	24	20	18
Inventory Days	0	0	0
Payable Days	0	0	0
	24	20	18
FINANCIAL HEALTH	-	-	-
Debt to Equity (x)	0.39x	0.51x	0.22x
Interest Coverage (x)	9.00x	3.94x	11.32x
	1.76x	1.62x	2.59x
GROWTH	-	-	-
Revenue Growth %	0.00%	44.37%	62.96%
Operating Profit Growth %	0.00%	41.01%	151.55%
Net Profit Growth %	0.00%	-65.58%	232.78%
	0.00%	0.00%	228.05%
VALUATION	-	-	-
P/E (x)	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x
Dividend Yield %	0.00%	0.00%	0.00%
	0.00x	0.00x	0.32x

Mar 2022

EPS (₹): 21.99
Book Value (₹): 41.62
Dividend per Share (₹): 0.00
Cash EPS (₹): 17.90
Operating Margin %: 22.04%
Net Margin %: 39.22%
ROE %: 53.00%
ROCE %: 47.71%
: 22.18%
Debtor Days: 24
Inventory Days: 0
Payable Days: 0
: 24
Debt to Equity (x): 0.39x
Interest Coverage (x): 9.00x
: 1.76x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 7.70
Book Value (₹): 49.24
Dividend per Share (₹): 0.00
Cash EPS (₹): 8.38
Operating Margin %: 21.53%
Net Margin %: 9.35%
ROE %: 16.71%
ROCE %: 20.67%
: 6.70%
Debtor Days: 20
Inventory Days: 0
Payable Days: 0
: 20
Debt to Equity (x): 0.51x
Interest Coverage (x): 3.94x
: 1.62x
Revenue Growth %: 44.37%
Operating Profit Growth %: 41.01%
Net Profit Growth %: -65.58%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 25.25
Book Value (₹): 74.37
Dividend per Share (₹): 1.00
Cash EPS (₹): 22.38
Operating Margin %: 30.89%
Net Margin %: 19.10%
ROE %: 40.89%
ROCE %: 44.23%
: 18.49%
Debtor Days: 18
Inventory Days: 0
Payable Days: 0
: 18
Debt to Equity (x): 0.22x
Interest Coverage (x): 11.32x
: 2.59x
Revenue Growth %: 62.96%
Operating Profit Growth %: 151.55%
Net Profit Growth %: 232.78%
: 228.05%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.32x

Shareholding Pattern

Numbers in percentages

TRADES

	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	57.33	57.33	57.28	61.43
	2.89	1.94	0.78	0.75
	10.55	7.49	4.87	2.71
Government	0.00	0.00	0.00	0.00
	29.23	33.23	37.07	35.11

Sep 2025

: 57.33
: 2.89
: 10.55
Government: 0.00
: 29.23

Dec 2025

: 57.33
: 1.94
: 7.49
Government: 0.00
: 33.23

Mar 2026

: 57.28
: 0.78
: 4.87
Government: 0.00
: 37.07

Jun 2026

: 61.43
: 0.75
: 2.71
Government: 0.00
: 35.11

Documents

Announcements

Monitoring Agency Report
2026-08-14 - Report of the Monitoring Agency for the quarter ended June 30, 2026.
General Updates
2026-08-11 - Jaro Institute of Technology Management and Research Limited has informed the Exchange about Investor Presentation on Unaudited Financial Result for quarter ended June 30, 2026.

Annual Reports

Annual Report FY2026
2026

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
TranscriptPPTREC
May 2026
TranscriptPPTREC
Feb 2026
Transcript PPTREC