3 Leaf Spring Manufacturer, Vehicle Aesthetics Components Maker and Automotive Air Conditioning Systems Supplier Stocks With a Strong Future Roadmap: Jamna Auto Industries, SJS Enterprises and Subros
- October 28, 2026
- Posted by: Neeraj Pandey
- Category: Best Stocks
Jamna Auto Industries, SJS Enterprises and Subros: ROE of 13.3% to 20.1% and FY22 to FY26 revenue CAGR of 11.1% to 27.0%. Prices as of 27 Oct 2026.
Quick Answer
The three spring, cosmetic part and thermal system stocks to watch are Jamna Auto Industries, SJS Enterprises and Subros. Their return on equity ranges from 13.3% to 20.1%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.1% to 27.0%. Jamna Auto Industries has the highest return on equity at 20.1%, while SJS Enterprises has the fastest revenue growth at 27.0% a year. Prices are based on the 27 October 2026 close, and this article is educational, not investment advice.
Spring, cosmetic part and thermal system stocks offer a focused view of a sector where demand keeps widening. Jamna Auto Industries, SJS Enterprises and Subros cover a leaf spring manufacturer, a vehicle aesthetics components maker and an automotive air conditioning systems supplier.
This list covers three spring, cosmetic part and thermal system stocks with complete current figures: Jamna Auto Industries, SJS Enterprises and Subros. Every figure comes from the latest reported financials and the 27 October 2026 market close. Companies without complete current figures were left out.
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What Are Spring, Cosmetic Part and Thermal System Stocks?
Spring, cosmetic part and thermal system stocks are listed auto component companies that make suspension springs, decorative vehicle parts and air conditioning systems for commercial and passenger vehicles. Their earnings depend on vehicle production, content per vehicle, commodity costs and replacement demand.
Spring, Cosmetic Part and Thermal System Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Jamna Auto Industries | 125.81 | 5,570 | 23.8 | 36.9 | 20.1 | 0.01 |
| SJS Enterprises | 1,989 | 6,459 | 30.5 | 36.9 | 19.7 | 0.03 |
| Subros | 615.85 | 4,017 | 24.1 | 36.1 | 13.3 | 0.02 |
On valuation, all three trade at a P/E below their industry P/E, which means the market is pricing them at a lower multiple than their peer group. Readers comparing spring, cosmetic part and thermal system stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in spring, cosmetic part and thermal system stocks can use the coming numbers to test whether growth is holding.
Why Do Spring, Cosmetic Part and Thermal System Stocks Have a Strong Roadmap in India?
Spring, cosmetic part and thermal system stocks have a strong roadmap in India because rising commercial vehicle output, premium cosmetic features and wider use of air conditioning keep widening the market for Indian component makers.
- Commercial vehicles. Freight demand lifts spring orders.
- Premium looks. Decorative parts raise value per vehicle.
- Cooling systems. More vehicles ship with air conditioning.
Why Jamna Auto Industries Features Among These Spring, Cosmetic Part and Thermal System Stocks
Among the spring, cosmetic part and thermal system stocks on this list, Jamna Auto Industries makes leaf and parabolic springs for commercial vehicles, trailers and buses, and holds a leading position in India’s suspension springs.
Revenue rose from Rs 1,723 crore in FY22 to Rs 2,621 crore in FY26, a compound annual growth rate of 11.1%. Net profit grew from Rs 141 crore in FY22 to Rs 231 crore in FY26, which works out to a compound annual growth rate of 13.2%.
In the June 2026 quarter, revenue grew 6.8% year on year to Rs 614 crore, while net profit rose 6.1% to Rs 48.5 crore. The company has a return on equity of 20.1%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 5,570 crore. The stock trades at a P/E of 23.8, below the industry P/E of 36.9.
Roadmap: The company benefits from replacement demand and from the shift to lighter, parabolic springs that carry higher margins. A fleet upgrade cycle and infrastructure spending drive commercial vehicle volumes, and Jamna also sells to the aftermarket.
What to watch: Monitor commercial vehicle production trends and steel price movements.
Why SJS Enterprises Features Among These Spring, Cosmetic Part and Thermal System Stocks
Among the leaf spring and auto air conditioning shares on this list, SJS Enterprises makes decorative aesthetic parts such as lenses, badges, decals and appliqués for vehicles, along with products for consumer durables.
In the June 2026 quarter, revenue grew 25.3% year on year to Rs 266 crore, while net profit rose 115.0% to Rs 74.4 crore. Revenue rose from Rs 374 crore in FY22 to Rs 973 crore in FY26, a compound annual growth rate of 27.0%.
Net profit grew from Rs 55.0 crore in FY22 to Rs 172 crore in FY26, which works out to a compound annual growth rate of 32.9%. The company has a return on equity of 19.7%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 6,459 crore. The stock trades at a P/E of 30.5, below the industry P/E of 36.9.
Roadmap: Premium finishes, electric vehicle styling and a rising number of parts per vehicle widen its addressable market. The company has also acquired overseas and domestic businesses, which deepen its product range and customer mix.
What to watch: Follow how newly acquired units are integrated and how premium finishes contribute to the mix.
Why Subros Features Among These Spring, Cosmetic Part and Thermal System Stocks
Among the three companies on this list, Subros is a Noida-based maker of automotive air conditioning and thermal systems such as compressors, condensers and evaporators for passenger and commercial vehicles.
The company has a return on equity of 13.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,017 crore. The stock trades at a P/E of 24.1, below the industry P/E of 36.1.
Revenue rose from Rs 2,248 crore in FY22 to Rs 3,794 crore in FY26, a compound annual growth rate of 14.0%. Net profit grew from Rs 32.5 crore in FY22 to Rs 166 crore in FY26, which works out to a compound annual growth rate of 50.3%. In the June 2026 quarter, revenue grew 17.5% year on year to Rs 1,038 crore, while net profit rose 1.7% to Rs 41.5 crore.
Roadmap: The company benefits from rising air conditioner fitment in new vehicles and demand for thermal management in electric vehicles. Close ties with leading vehicle makers support steady volumes.
What to watch: Follow content per vehicle, electric vehicle thermal orders and new customer additions.
Jamna Auto Industries vs SJS Enterprises vs Subros on Key Financials
The table below sets the three spring, cosmetic part and thermal system 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 |
|---|---|---|---|---|---|
| Jamna Auto Industries | 1,723 | 2,621 | 11.1% | 231 | 8.8% |
| SJS Enterprises | 374 | 973 | 27.0% | 172 | 17.7% |
| Subros | 2,248 | 3,794 | 14.0% | 166 | 4.4% |
Jamna Auto Industries posts the highest return on equity in this group at 20.1%. Subros has the largest FY26 revenue at Rs 3,794 crore, and SJS Enterprises shows the fastest revenue growth with a 27.0% compound annual rate. A useful habit with spring, cosmetic part and thermal system 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 |
|---|---|---|---|
| Jamna Auto Industries | 575 | 614 | 6.8% |
| SJS Enterprises | 212 | 266 | 25.3% |
| Subros | 884 | 1,038 | 17.5% |
Key Risks to Check Before Investing in Spring, Cosmetic Part and Thermal System Stocks
Every theme carries risks that deserve a check before any decision. For these spring, cosmetic part and thermal system stocks, the main points are: Long-term leaf spring and auto air conditioning shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Production cycles. Vehicle output can vary with demand.
- Input costs. Metal and material prices can move margins.
- Customer mix. A few large makers account for much of sales.
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 spring, cosmetic part and thermal system stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Spring, Cosmetic Part and Thermal System Stocks
Spring, cosmetic part and thermal system stocks reward patient research into demand, execution and financial strength. Jamna Auto Industries, SJS Enterprises and Subros each have a clear plan to expand. Based on the 27 October 2026 close, Jamna Auto Industries trades at Rs 125.81, SJS Enterprises at Rs 1,989 and Subros at Rs 615.85. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these spring, cosmetic part and thermal system 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 spring, cosmetic part and thermal system stocks?
Ans. Spring, cosmetic part and thermal system stocks are listed auto component companies that make suspension springs, decorative vehicle parts and air conditioning systems for commercial and passenger vehicles. Their earnings depend on vehicle production, content per vehicle, commodity costs and replacement demand. This list looks at three of them, Jamna Auto Industries, SJS Enterprises and Subros, using reported FY22 to FY26 financials and the 27 October 2026 closing prices.
Which spring, cosmetic part and thermal system stocks are covered in this list?
Ans. This list covers Jamna Auto Industries, SJS Enterprises and Subros. Based on the 27 October 2026 close, Jamna Auto Industries traded at Rs 125.81, SJS Enterprises at Rs 1,989 and Subros at Rs 615.85. Their return on equity ranges from 13.3% to 20.1%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.1% to 27.0%.
Why do spring, cosmetic part and thermal system stocks have a strong future roadmap in India?
Ans. Spring, cosmetic part and thermal system stocks have a strong roadmap in India because rising commercial vehicle output, premium cosmetic features and wider use of air conditioning keep widening the market for Indian component makers. The main drivers are as follows. Commercial vehicles. Freight demand lifts spring orders. Premium looks. Decorative parts raise value per vehicle. Cooling systems. More vehicles ship with air conditioning. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Jamna Auto Industries performed financially?
Ans. Revenue rose from Rs 1,723 crore in FY22 to Rs 2,621 crore in FY26, a compound annual growth rate of 11.1%. Net profit grew from Rs 141 crore in FY22 to Rs 231 crore in FY26, which works out to a compound annual growth rate of 13.2%. In the June 2026 quarter, revenue grew 6.8% year on year to Rs 614 crore, while net profit rose 6.1% to Rs 48.5 crore. The company has a return on equity of 20.1%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 5,570 crore. The stock trades at a P/E of 23.8, below the industry P/E of 36.9. Looking ahead, the company benefits from replacement demand and from the shift to lighter, parabolic springs that carry higher margins. A fleet upgrade cycle and infrastructure spending drive commercial vehicle volumes, and Jamna also sells to the aftermarket.
How has SJS Enterprises performed financially?
Ans. Revenue rose from Rs 374 crore in FY22 to Rs 973 crore in FY26, a compound annual growth rate of 27.0%. Net profit grew from Rs 55.0 crore in FY22 to Rs 172 crore in FY26, which works out to a compound annual growth rate of 32.9%. In the June 2026 quarter, revenue grew 25.3% year on year to Rs 266 crore, while net profit rose 115.0% to Rs 74.4 crore. The company has a return on equity of 19.7%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 6,459 crore. The stock trades at a P/E of 30.5, below the industry P/E of 36.9. Looking ahead, premium finishes, electric vehicle styling and a rising number of parts per vehicle widen its addressable market. The company has also acquired overseas and domestic businesses, which deepen its product range and customer mix.
How has Subros performed financially?
Ans. Revenue rose from Rs 2,248 crore in FY22 to Rs 3,794 crore in FY26, a compound annual growth rate of 14.0%. Net profit grew from Rs 32.5 crore in FY22 to Rs 166 crore in FY26, which works out to a compound annual growth rate of 50.3%. In the June 2026 quarter, revenue grew 17.5% year on year to Rs 1,038 crore, while net profit rose 1.7% to Rs 41.5 crore. The company has a return on equity of 13.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,017 crore. The stock trades at a P/E of 24.1, below the industry P/E of 36.1. Looking ahead, the company benefits from rising air conditioner fitment in new vehicles and demand for thermal management in electric vehicles. Close ties with leading vehicle makers support steady volumes.
What risks should investors check before buying spring, cosmetic part and thermal system stocks?
Ans. Investors should check a few risks before buying spring, cosmetic part and thermal system stocks. Production cycles. Vehicle output can vary with demand. Input costs. Metal and material prices can move margins. Customer mix. A few large makers account for much of sales. 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 spring, cosmetic part and thermal system stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 27 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.
