JBM Auto shares trade 3% lower; company secured ₹5,500 crore tender for supply of 1,021 electric buses

Shares of JBM Auto opened 3.2% lower on Thursday as the company received significant orders worth ₹5,500 crore for the supply of 1,021 electric buses under the PM e-bus sewa scheme. The shares closed 16% higher on Wednesday at ₹658 apiece on the NSE ahead of the announcement.

JBM Ecolife Mobility, a subsidiary of JBM Auto, has been awarded the Tender for the end-to-end execution of 1,021 Electric Buses and the development of allied electric and civil Infrastructure on Gross Cost Contracting (GCC) under the PM-eBus Sewa Scheme (Tender-II).

The project will be supported by a Payment Security Mechanism (PSM), ensuring timely payments to electric bus operators and enhancing financial sustainability for industry stakeholders. The approximate order value of the tender stands at ₹5,500 crore. JBM auto's Q3FY25 revenue stood at ₹1,396 crore with an order back log of 11,000 buses.

These e-buses will be deployed in around 19 cities across Gujarat, Maharashtra, and Haryana. On February 18, 2025, the company received the Letter of Confirmation of Quantities Eligible for Award issued by Convergence Energy Services (CESL).

JBM Auto stands firmly committed to India’s e-mobility revolution.

The company’s order book continues to retain its robustness with the award of this prestigious tender under the PM-eBus Sewa Scheme (Tender-II) underscores the government’s vision to expand the deployment of electric buses to the grassroots level of the Nation. These e-buses will clock over 32 bn+ passengers e-km and save over 1 bn+ CO2 emissions over 12 years of deployment.

With this order, the company’s robust order book now stands at 11,000+ electric buses in various stages of execution, a significant driver towards achieving the company’s Net Zero 2040 goal.

JBM Auto is the flagship company of JBM Group. It is engaged in the automotive business, manufacturing and selling sheet metal components, tools, dies and moulds, and buses, including the sale of spare parts, accessories, and maintenance contracts for Buses.