Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹910 Cr.
Stock P/E
17.2
P/B
—
Current Price
₹408.4
Book Value
₹ 0
Face Value
10
52W High
₹790.8
52W Low
₹ 385
Dividend Yield
1.22%

Jaro Inst. of Tech. Overview

Business

Jaro Institute of Technology Management and Research Ltd. (operating as JARO Education) is an Indian online higher education company. It primarily focuses on offering executive education programs, online MBA degrees, professional certification courses, and skill enhancement programs. The company's core business model involves partnering with leading Indian and international universities and institutions to offer these programs. JARO Education acts as a facilitator, providing sales, marketing, technology platforms, and student support services for these partner institutions. It also caters to corporate clients by offering tailored training and development programs. The company generates revenue primarily through tuition fees collected from students enrolling in its programs and fees for corporate training solutions.

Revenue Mix

While specific percentage breakdowns are not always publicly disclosed for SME-listed companies, JARO Education's revenue streams can be broadly categorized into:

Online Executive & Postgraduate Programs: This segment involves collaborations with universities to offer online MBA, executive leadership, and other postgraduate-level certification courses. This forms a significant portion of its business.

Professional Certification & Skill Development Programs: Offering shorter-duration courses focused on specific skills and industry trends.

Corporate Training: Providing customized learning solutions and upskilling programs directly to businesses for their employees.

Industry

JARO Education operates within the dynamic Indian education sector, specifically targeting the online higher education, executive education, and professional skill development segments. This industry is characterized by increasing demand for upskilling and reskilling, significant digital adoption, and a blend of traditional academic institutions, ed-tech startups, and corporate training providers. JARO positions itself as a key enabler for working professionals seeking career advancement through quality online programs, often leveraging the brand and accreditation of its university partners. It competes with other prominent Indian ed-tech companies (e.g., UpGrad, Great Learning), online offerings from traditional universities, and various professional training institutes.

MOAT

JARO Education's competitive advantages primarily include:

University Partnerships: Established network of partnerships with reputable Indian and international universities lends credibility and academic rigor to its program offerings, which can be difficult for new entrants to replicate quickly.

Market Reach & Sales Engine: A strong sales and marketing infrastructure that enables wide outreach and effective student enrollment across India.

Curriculum Curation & Delivery: Ability to curate industry-relevant content and deliver it effectively through its online platforms, addressing the needs of working professionals.

Brand Recognition in Niche: Building a recognizable brand within the online executive education segment, attracting a specific demographic of learners.

Growth Drivers

Rising Demand for Upskilling/Reskilling: Continuous need for professionals to update skills due due to rapid technological advancements and evolving job markets.

Increased Adoption of Online Education: Growing acceptance and preference for flexible, accessible online and hybrid learning models, accelerated by digital penetration in India.

Expansion of Program Portfolio & Partnerships: Ability to drive growth by adding more programs, new specializations, and forging alliances with additional universities and institutions.

Corporate Training Market Growth: Businesses are increasingly investing in employee development, creating opportunities for B2B training solutions.

Government Focus on Skill Development: Supportive government policies and initiatives promoting skill enhancement and digital literacy.

Risks

Intense Competition: The online education sector in India is highly competitive, with established ed-tech players, new startups, and traditional universities increasingly offering online programs.

Regulatory Changes: The Indian education sector is subject to evolving regulations regarding online degrees, university collaborations, and accreditation standards, which could impact operations.

Reputation & Quality Control: Maintaining program quality, faculty standards, and positive student outcomes is crucial. Any lapse could damage its brand and enrollment.

Reliance on University Partnerships: Significant dependence on its partner universities. Loss of key partnerships or issues with a partner institution could adversely affect its offerings and revenue.

Technology & Cybersecurity Risks: Reliance on its digital platform for content delivery and operations, making it vulnerable to technological failures or cybersecurity breaches.

Fluctuations in Student Enrollment: Economic downturns or shifts in market demand for specific skills could lead to reduced student enrollments.

Management & Ownership

Jaro Institute of Technology Management and Research Ltd. was promoted by Mr. Jogi Ram Saini and Dr. Sanjay Salunkhe. Dr. Sanjay Salunkhe serves as the Chairman and Managing Director, bringing experience from the education and business sectors to lead the company. As a company listed on the NSE Emerge platform, the promoters typically hold a significant majority stake (often exceeding 70%), demonstrating strong insider commitment, with the remaining shares held by public shareholders and other investors. The management's focus is on leveraging partnerships and technology to scale educational offerings.

Outlook

JARO Institute of Technology Management and Research Ltd. is positioned in a growing segment of the Indian education market, benefiting from the increasing demand for professional upskilling and the widespread adoption of online learning. Its strategy of collaborating with reputable universities provides a credible foundation for its program offerings, allowing it to tap into an existing academic ecosystem while providing modern online delivery. The company has demonstrated a capacity to expand its program portfolio and attract students, suggesting potential for continued growth as the market matures and digital literacy deepens.

However, the sector remains highly competitive, with many players vying for market share. Regulatory complexities and potential changes in educational policies in India pose inherent operational risks. The company's sustained success will depend on its ability to continuously innovate, maintain high-quality educational content and student support, secure and expand its network of university partnerships, and effectively navigate the intense competitive landscape to retain its market position and attract new learners.

Jaro Inst. of Tech. Share Price

Live · BSE / NSE · Inception: 2009
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Jaro Inst. of Tech. Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Jaro Inst. of Tech. Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 85 122 199
Other Income 2 2 5
Total Income 87 125 204
Total Expenditure 68 98 138
Operating Profit 19 26 66
Interest 5 5 5
Depreciation 3 5 7
Exceptional Income / Expenses 26 0 -2
Profit Before Tax 37 16 52
Provision for Tax 4 4 14
Profit After Tax 33 11 38
Adjustments -0 0 -0
Profit After Adjustments 33 12 38
Adjusted Earnings Per Share 16.5 5.8 19

Jaro Inst. of Tech. Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 63 78 117
Minority's Interest 6 6 0
Borrowings 6 7 1
Other Non-Current Liabilities 32 31 39
Total Current Liabilities 44 70 63
Total Liabilities 150 192 220
Fixed Assets 25 29 17
Other Non-Current Assets 48 49 39
Total Current Assets 77 113 163
Total Assets 150 192 220

Jaro Inst. of Tech. Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents -13 8 7
Cash Flow from Operating Activities 11 3 -17
Cash Flow from Investing Activities -6 -8 47
Cash Flow from Financing Activities 1 5 -19
Net Cash Inflow / Outflow 6 -0 11
Closing Cash & Cash Equivalent -7 7 18

Jaro Inst. of Tech. Ratios

# Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 16.54 5.79 18.99
CEPS(Rs) 17.9 8.38 22.38
DPS(Rs) 0 0 0.75
Book NAV/Share(Rs) 31.29 37.02 55.92
Core EBITDA Margin(%) 19.36 19.53 30.89
EBIT Margin(%) 49.16 17.16 28.65
Pre Tax Margin(%) 43.7 12.8 26.12
PAT Margin (%) 39.22 9.35 19.1
Cash Profit Margin (%) 42.33 13.72 22.49
ROA(%) 22.18 6.7 18.49
ROE(%) 53 16.72 40.89
ROCE(%) 47.71 20.67 44.23
Receivable days 23.52 19.92 17.94
Inventory Days 0 0 0
Payable days 0 0 0
PER(x) 0 0 0
Price/Book(x) 0 0 0
Dividend Yield(%) 0 0 0
EV/Net Sales(x) 0.37 0.32 0.11
EV/Core EBITDA(x) 1.66 1.5 0.32
Net Sales Growth(%) 0 44.37 62.96
EBIT Growth(%) 0 -49.61 172.1
PAT Growth(%) 0 -65.58 232.78
EPS Growth(%) 0 -65 228.05
Debt/Equity(x) 0.39 0.51 0.22
Current Ratio(x) 1.76 1.62 2.59
Quick Ratio(x) 1.76 1.62 2.59
Interest Cover(x) 9 3.94 11.32
Total Debt/Mcap(x) 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +63% — — —
Operating Profit CAGR +154% — — —
PAT CAGR +245% — — —
Share Price CAGR -48% — — —
ROE Average +41% +37% +37% +37%
ROCE Average +44% +38% +38% +38%

Jaro Inst. of Tech. Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 61.43 %
FII 0.75 %
DII (MF + Insurance) 2.7 %
Public (retail) 35.12 %
# Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 57.3357.3357.2861.43
FII 2.891.950.790.75
DII 10.557.494.872.7
Public 29.2333.2337.0735.12
Others 0000
Total 100100100100

Jaro Inst. of Tech. Peer Comparison

Educational Institutions Edit Columns

Jaro Inst. of Tech. Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Jaro Inst. of Tech. Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 37%
  • Company has reduced debt.
  • Company is almost debt free.

Cons

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