3 Automotive Lighting and Electronics Maker, Electric Buses and Sheet Metal Supplier and Leading Tyre Producer Stocks With a Strong Future Roadmap: Varroc Engineering, JBM Auto and MRF
- October 27, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
Varroc Engineering, JBM Auto and MRF: ROE of 11.6% to 14.3% and FY22 to FY26 revenue CAGR of 11.0% to 18.0%. Prices as of 26 Oct 2026.
Quick Answer
The three auto lighting, electric bus and tyre stocks to watch are Varroc Engineering, JBM Auto and MRF. Their return on equity ranges from 11.6% to 14.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.0% to 18.0%. Varroc Engineering has the highest return on equity at 14.3%, while JBM Auto has the fastest revenue growth at 18.0% a year. Prices are based on the 26 October 2026 close, and this article is educational, not investment advice.
Auto lighting, electric bus and tyre stocks offer a focused view of a sector where demand keeps widening. Varroc Engineering, JBM Auto and MRF cover an automotive lighting and electronics maker, an electric buses and sheet metal supplier and a leading tyre producer.
This list covers three auto lighting, electric bus and tyre stocks with complete current figures: Varroc Engineering, JBM Auto and MRF. Every figure comes from the latest reported financials and the 26 October 2026 market close. Companies without complete current figures were left out.
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What Are Auto Lighting, Electric Bus and Tyre Stocks?
Auto lighting, electric bus and tyre stocks are listed auto companies that make lamps and electronics, buses and body parts and tyres for every vehicle type. Their earnings depend on vehicle output, bus orders, replacement demand and input costs.
Auto Lighting, Electric Bus and Tyre Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Varroc Engineering | 778.55 | 12,256 | 61.2 | 36.9 | 14.3 | 0.52 |
| JBM Auto | 485.1 | 12,533 | 51.5 | 36.9 | 14.2 | 1.97 |
| MRF | 117,380 | 49,998 | 20.7 | 19.2 | 11.6 | 0.15 |
On valuation, all three trade at a P/E above their industry P/E, which reflects the growth the market already expects from them. Readers comparing auto lighting, electric bus and tyre stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Auto Lighting, Electric Bus and Tyre Stocks Have a Strong Roadmap in India?
Auto lighting, electric bus and tyre stocks have a strong roadmap in India because richer vehicle features, electric bus programmes and a growing vehicle fleet keep lifting demand for parts and tyres.
- Better lighting. Newer vehicles carry advanced lamps.
- Electric buses. City fleets add new bus orders.
- Replacement tyres. A larger fleet needs regular tyre changes.
Why Varroc Engineering Features Among These Auto Lighting, Electric Bus and Tyre Stocks
Among the auto lighting, electric bus and tyre stocks on this list, Varroc Engineering is a Maharashtra-based automotive component maker with a focus on exterior lighting systems, electrical and electronic parts and polymer products for two-wheeler, passenger car and commercial vehicle makers across the world.
Revenue rose from Rs 5,878 crore in FY22 to Rs 8,917 crore in FY26, a compound annual growth rate of 11.0%. Net profit for FY26 was Rs 230 crore, a net margin of 2.6%.
In the June 2026 quarter, revenue grew 29.9% year on year to Rs 2,640 crore. The company has a return on equity of 14.3%, a debt to equity ratio of 0.52 and a market capitalisation of Rs 12,256 crore. The stock trades at a P/E of 61.2, above the industry P/E of 36.9.
Roadmap: The company is growing its lighting business with advanced LED products and increasing content per vehicle in India and overseas. Orders from vehicle makers, including electric vehicle programmes, give visibility on future volumes.
What to watch: Monitor order wins in lighting and the growth of content per vehicle.
Why JBM Auto Features Among These Auto Lighting, Electric Bus and Tyre Stocks
Among the exterior lighting company shares on this list, JBM Auto makes sheet metal components, tooling, and buses, and is a significant supplier of electric buses and sheet metal parts to leading vehicle makers.
In the June 2026 quarter, revenue grew 13.9% year on year to Rs 1,474 crore, while net profit rose 13.4% to Rs 44.3 crore. Revenue rose from Rs 3,214 crore in FY22 to Rs 6,227 crore in FY26, a compound annual growth rate of 18.0%.
Net profit grew from Rs 156 crore in FY22 to Rs 238 crore in FY26, which works out to a compound annual growth rate of 11.1%. The company has a return on equity of 14.2%, a debt to equity ratio of 1.97 and a market capitalisation of Rs 12,533 crore. The stock trades at a P/E of 51.5, above the industry P/E of 36.9.
Roadmap: The company has secured large orders for electric buses under city transport programmes and supplies body and chassis components to passenger vehicle and commercial vehicle makers. Its manufacturing scale supports growth in both businesses.
What to watch: Track electric bus deliveries and the progress of orders under city bus programmes.
Why MRF Features Among These Auto Lighting, Electric Bus and Tyre Stocks
Among the three companies on this list, MRF is one of India’s largest tyre makers, producing tyres for two-wheelers, cars, trucks, buses and farm vehicles, along with tubes, treads and conveyor belts, and it has one of the strongest brand names in the industry.
The company has a return on equity of 11.6%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 49,998 crore. The stock trades at a P/E of 20.7, above the industry P/E of 19.2.
Revenue rose from Rs 19,634 crore in FY22 to Rs 31,654 crore in FY26, a compound annual growth rate of 12.7%. Net profit grew from Rs 669 crore in FY22 to Rs 2,426 crore in FY26, which works out to a compound annual growth rate of 38.0%. In the June 2026 quarter, revenue grew 10.3% year on year to Rs 8,611 crore.
Roadmap: The company has steadily added radial and premium capacity and benefits from a very large replacement market. A strong balance sheet lets it invest through demand cycles.
What to watch: Track replacement demand, rubber and crude-linked input costs and new capacity additions.
Varroc Engineering vs JBM Auto vs MRF on Key Financials
The table below sets the three auto lighting, electric bus and tyre stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Varroc Engineering | 5,878 | 8,917 | 11.0% | 230 | 2.6% |
| JBM Auto | 3,214 | 6,227 | 18.0% | 238 | 3.8% |
| MRF | 19,634 | 31,654 | 12.7% | 2,426 | 7.7% |
Varroc Engineering posts the highest return on equity in this group at 14.3%. MRF has the largest FY26 revenue at Rs 31,654 crore, and JBM Auto shows the fastest revenue growth with a 18.0% compound annual rate. A useful habit with auto lighting, electric bus and tyre stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Varroc Engineering | 2,033 | 2,640 | 29.9% |
| JBM Auto | 1,294 | 1,474 | 13.9% |
| MRF | 7,804 | 8,611 | 10.3% |
Key Risks to Check Before Investing in Auto Lighting, Electric Bus and Tyre Stocks
Every theme carries risks that deserve a check before any decision. For these auto lighting, electric bus and tyre stocks, the main points are: Long-term exterior lighting company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Vehicle cycles. Component orders follow vehicle production.
- Input costs. Rubber, resin and metal prices affect margins.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter auto lighting, electric bus and tyre stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Auto Lighting, Electric Bus and Tyre Stocks
Auto lighting, electric bus and tyre stocks reward patient research into demand, execution and financial strength. Varroc Engineering, JBM Auto and MRF each have a clear plan to grow. Based on the 26 October 2026 close, Varroc Engineering trades at Rs 778.55, JBM Auto at Rs 485.1 and MRF at Rs 117,380. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these auto lighting, electric bus and tyre stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are auto lighting, electric bus and tyre stocks?
Ans. Auto lighting, electric bus and tyre stocks are listed auto companies that make lamps and electronics, buses and body parts and tyres for every vehicle type. Their earnings depend on vehicle output, bus orders, replacement demand and input costs. This list looks at three of them, Varroc Engineering, JBM Auto and MRF, using reported FY22 to FY26 financials and the 26 October 2026 closing prices.
Which auto lighting, electric bus and tyre stocks are covered in this list?
Ans. This list covers Varroc Engineering, JBM Auto and MRF. Based on the 26 October 2026 close, Varroc Engineering traded at Rs 778.55, JBM Auto at Rs 485.1 and MRF at Rs 117,380. Their return on equity ranges from 11.6% to 14.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.0% to 18.0%.
Why do auto lighting, electric bus and tyre stocks have a strong future roadmap in India?
Ans. Auto lighting, electric bus and tyre stocks have a strong roadmap in India because richer vehicle features, electric bus programmes and a growing vehicle fleet keep lifting demand for parts and tyres. The main drivers are as follows. Better lighting. Newer vehicles carry advanced lamps. Electric buses. City fleets add new bus orders. Replacement tyres. A larger fleet needs regular tyre changes. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Varroc Engineering performed financially?
Ans. Revenue rose from Rs 5,878 crore in FY22 to Rs 8,917 crore in FY26, a compound annual growth rate of 11.0%. Net profit for FY26 was Rs 230 crore, a net margin of 2.6%. In the June 2026 quarter, revenue grew 29.9% year on year to Rs 2,640 crore. The company has a return on equity of 14.3%, a debt to equity ratio of 0.52 and a market capitalisation of Rs 12,256 crore. The stock trades at a P/E of 61.2, above the industry P/E of 36.9. Looking ahead, the company is growing its lighting business with advanced LED products and increasing content per vehicle in India and overseas. Orders from vehicle makers, including electric vehicle programmes, give visibility on future volumes.
How has JBM Auto performed financially?
Ans. Revenue rose from Rs 3,214 crore in FY22 to Rs 6,227 crore in FY26, a compound annual growth rate of 18.0%. Net profit grew from Rs 156 crore in FY22 to Rs 238 crore in FY26, which works out to a compound annual growth rate of 11.1%. In the June 2026 quarter, revenue grew 13.9% year on year to Rs 1,474 crore, while net profit rose 13.4% to Rs 44.3 crore. The company has a return on equity of 14.2%, a debt to equity ratio of 1.97 and a market capitalisation of Rs 12,533 crore. The stock trades at a P/E of 51.5, above the industry P/E of 36.9. Looking ahead, the company has secured large orders for electric buses under city transport programmes and supplies body and chassis components to passenger vehicle and commercial vehicle makers. Its manufacturing scale supports growth in both businesses.
How has MRF performed financially?
Ans. Revenue rose from Rs 19,634 crore in FY22 to Rs 31,654 crore in FY26, a compound annual growth rate of 12.7%. Net profit grew from Rs 669 crore in FY22 to Rs 2,426 crore in FY26, which works out to a compound annual growth rate of 38.0%. In the June 2026 quarter, revenue grew 10.3% year on year to Rs 8,611 crore. The company has a return on equity of 11.6%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 49,998 crore. The stock trades at a P/E of 20.7, above the industry P/E of 19.2. Looking ahead, the company has steadily added radial and premium capacity and benefits from a very large replacement market. A strong balance sheet lets it invest through demand cycles.
What risks should investors check before buying auto lighting, electric bus and tyre stocks?
Ans. Investors should check a few risks before buying auto lighting, electric bus and tyre stocks. Vehicle cycles. Component orders follow vehicle production. Input costs. Rubber, resin and metal prices affect margins. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of auto lighting, electric bus and tyre stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 26 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.