JAROConsumer Discretionary

Jaro Institute of Technology Management and Research Limited

E-Learning · ISIN INE00YJ01010 · BSE 544534 · NSE EQ · FV ₹10
Last price
₹471
+0.66%today
What this company does

Jaro Institute of Technology Management and Research Limited operates in E-Learning, part of the Consumer Discretionary sector. It booked ₹71 cr of revenue in its latest quarter (Q1 FY27) and kept 15.8% of sales as profit. It is the 3rd largest of 3 E-Learning companies we track, by market value.

In the report:
67out of 100
Equitytale Health Score
Solid

Healthier than 67% of companies in Consumer Discretionary, on the 5 of 6 measures we could read for it. Each measure is ranked against the 63–421 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
57

At close. Not part of the score.

Profitability & returns72

How much profit it earns on the money it employs

Balance sheet94

How much it owes, and whether earnings cover the interest

Cash quality46

Whether reported profit actually arrives as cash

Valuation24

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 16% net margin
Sales up 17% vs last year
Profit up 48% vs last year
Promoters hold 61%
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in JARO?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 5% a year, it would become
₹15.50 lakh

The slider starts at 5%, taken from a generic assumption, not this company's history. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹471 +0.66%
latest close · 2026-09-17
52-wk low ₹43342 sessions so far52-wk high ₹501
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio23.0Average
LowAverageHigh
P/B ratio2.86Moderate
Below bookModerateHigh
EV / EBITDA14.8Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity12.4%Fair
WeakFairStrong ▸15%
Return on capital15.4%Strong
WeakFairStrong
Net margin15.8%Strong
ThinDecentStrong
EBITDA margin24.1%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover93.6×Strong
RiskyOkayStrong ▸5×
Current ratio10.08Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹1,030 cr
Book value
₹165
EPS
₹5.11
latest quarter
Net debt
₹-24 cr
more cash than debt
Enterprise value
₹1,007 cr
EBITDA
₹68 cr
annualised
EBIT
₹60 cr
annualised
Operating margin
21.1%
Return on assets
10.4%
Earnings yield
4.34%
P/S
3.64
Sales / share
₹129.4
Tax rate
24.5%
Face value
₹10
Shares
2.2 cr
Working capital
₹366 cr
Current assets
₹406 cr
Current liabilities
₹40 cr
Delivery %
23.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹235 vs market price ₹471 — price is 100% above it
Safety cushion-100.4%(target ≥ +20%)
Models span ₹176₹294, midpoint ₹235
Model ₹235
Price ₹471
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹71 cr
Other Income₹2 cr
Total Income₹73 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹20 cr
Finance Costs₹16 L
Depreciation & Amortisation₹2 cr
Other Expenses₹35 cr
Total Expenses₹58 cr
Profit before Tax₹15 cr
Tax Expense₹4 cr
Net Profit₹11 cr
Net margin on total income15.4%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹20 cr27.7%
Finance costs₹16 L0.2%
Depreciation & amortisation₹2 cr2.9%
Other expenses₹35 cr48.8%
Tax expense₹4 cr5.0%
Profit for the period₹11 cr15.4%
Total income ₹73 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue60 cr73 cr71 cr
Total income62 cr82 cr73 cr
Expenses52 cr54 cr58 cr
Profit before tax9 cr27 cr15 cr
Tax2 cr6 cr4 cr
Net profit (owners' share)7 cr21 cr11 cr
Net margin (owners' share, on revenue)11.7%29.3%15.8%
EPS (₹)3.179.845.11
YoY (latest quarter): total income +19.4% · net profit +48.3%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹429 cr
Shareholder equity
₹360 cr
parent shareholders
Total debt
₹38.1 L
Cash
₹24 cr
Cash flow · H1 FY26
Operating
₹8 cr
Investing
₹-433 cr
Financing
₹421 cr
Peer comparison
E-Learning · by market value
CompanyPriceMarket capP/E
Physicswallah Limited₹128₹37,074 cr
Veranda Learning Solutions Limited₹215₹2,067 cr17.7
Jaro Institute of Technology Management and Research Limitedthis company₹471₹1,030 cr23.0
Usha Martin Education & Solutions Limited₹4102.0
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.06%
trailing 12 months
Dividend / share (TTM)
₹5
Last dividend
₹3
ex 21 Jul 2026
ActionDetailEx-date
Dividend₹3 / share21 Jul 2026
Dividend₹2 / share16 Jan 2026
Who owns it · 2026-06-30
No pledge
Promoter
61.4%
FII / Foreign
0.8%
DII / Domestic
2.7%
Retail / others
33.3%
Promoter stake up 4.1% over the last 5 quarters.
Smart-money activity
Insider trades
BoughtSanjay Namdeo Salunkhe · Promoter23,400 · ₹1.1 cr15 Sep 26
BoughtSanjay Namdeo Salunkhe · Promoter5,000 · ₹22.8 L11 Sep 26
BoughtSanjay Namdeo Salunkhe · Promoter15,638 · ₹71.7 L10 Sep 26
Bulk / block deals
SoldSINGULARITY GROWTH OPPORTUNITIES FUND II · NSE2.81 L @ ₹501.3319 May 26
BoughtSALUNKHE NAMDEO SANJAY · NSE2.09 L @ ₹503.9119 May 26
BoughtSALUNKHE NAMDEO SANJAY · NSE1.47 L @ ₹512.4414 May 26
Stake changes
BoughtSanjay Namdeo Salunkhe · promoter→ 55.38% · 20,01826 Aug 26
BoughtBalkrishna Namdeo Salunkhe · promoter→ 4.24% · 7,39021 Aug 26
BoughtBalkrishna Namdeo Salunkhe · promoter→ 4.20% · 30020 Aug 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 23 Feb 2026
See the official result
1
Approval of Jaro Education Employee Stock Option Plan - 2026 (ESOP Scheme – 2026)
Backed by 100% of shareholders other than promotersneeded 75%
92,732 votes for, 120 against
2
Approval for the acquisition of Equity Shares by way of secondary acquisition under Jaro Education Employee Stock Option Plan - 2026 (ESOP Scheme – 2026)
Backed by 100% of shareholders other than promotersneeded 75%
92,732 votes for, 120 against
3
Approval for provision of loan by the Company for purchase of its own shares by the trust / trustees for the benefit of employees under Jaro Education Employee Stock Option Plan - 2026 (ESOP Scheme – 2026).
Backed by 100% of shareholders other than promotersneeded 75%
92,732 votes for, 120 against
4
Re-appointment of Mr. Ishan Baveja (DIN: 07251062) as an Independent Director.
Backed by 100% of shareholders other than promotersneeded 75%
92,772 votes for, 64 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 29 named members
owning 61.4% between them · as of 2026-06-30
SANJAY NAMDEO SALUNKHE55.29%
BALKRISHNA NAMDEO SALUNKHE4.10%
ANITA SANJAY SALUNKHE2.04%
Aptness Education Private Limited (Previously known as Jaro Education Private Limited)no shares
Aquamist Realty LLPno shares
Fidelis Management Consultants Private Limitedno shares
Fidelis Media Management Services LLPno shares
Global Education Trustno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹170 cr raised in Sep 2025 by selling shares to the public

As of Jun 2026, the company says it has spent 82% of what it set aside, leaving ₹30 cr still to be spent. Crisil Ratings Limited watches the spending on the exchange’s behalf.

Marketing, brand building and advertising activities
65%
₹52 cr of ₹81 cr
Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company
100%
₹45 cr of ₹45 cr
General Corporate Purposes
97%
₹43 cr of ₹44 cr
Spent by quarter: 70%82% (to Jun 2026)
₹17 cr raised in Sep 2025 by selling shares to the public

The company has not broken this money down into purposes in its filing for Sep 2025, so there is nothing to measure it against yet. Crisil Ratings Limited watches the spending on the exchange’s behalf.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.