Jay Ambe SupermarketsShare price, financial results, shareholding and management
- Market cap
- ₹83 cr
- Stock P/E
- 17.0peers 14.7
- Book value
- ₹38.8
- Price to book
- 2.41
- EV / operating profit
- -
- Market cap to sales
- 1.16
- ROCE · FY26
- 24.5%
- ROE · FY26
- 20.3%
- ROE, 3-year average
- 25.1%
- Operating margin · FY26
- 14.4%peers 2.9%
- Sales growth, 3 years
- 29.8%
- Profit growth, 3 years
- 140.7%
- Debt to equity
- 0.30peers 0.23
- Borrowings
- ₹10.2 cr
- Interest cover
- 5.1×
- Cash from business / op. profit
- 30%
- Debtor days
- 13
- Pledged
- 0.00%
- Promoter holding
- 52.46%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 84
- 52-week high / low
- ₹222 / ₹90
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Jay Ambe Supermarkets share price chart
Close on 4 Nov 2026 · -0.53% on the day · Vol 40,800
Daily prices to 4 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 4 Nov 2026
- 1 month
- -24.3%
- 3 months
- -12.9%
- 6 months
- -48.0%
- 1 year
- -29.8%
- Traded a day, 20 days
- ₹0.08 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +51% | +77% |
| 3 years, a year | +30% | +141% |
| Latest half, H2 FY26 | +41% | +127% |
About Jay Ambe Supermarkets: business, products and customers
Jay Ambe Supermarkets runs the City Square Mart chain of supermarkets in Gujarat, selling groceries, packaged foods, household goods, clothes, footwear and toys, from its own stores and through franchise partners. Its shares trade on BSE SME.
City Square Mart opened its first store at Kudasan, Gandhinagar in 2018 and now has eighteen stores across Gujarat, including a new store at Mansa and a hypermarket at Adani Shantigram Township in Ahmedabad. Stores are mostly in rented premises; some are run by the company itself and others belong to franchise partners, who either let the company run the store for a share of sales or run it themselves and pay fees and a royalty. Gandhinagar alone brought about half of FY25 revenue.
Most of the money comes from reselling branded goods bought from more than 1,700 manufacturers and distributors, so the margin on each sale is thin and profit depends on volume, rent and wages. The offer document says purchases are made on advance payment or cash on delivery, and stock is kept on the top shelves of the stores rather than in warehouses, so little of the stock is financed by suppliers. On top of trading, the company earns franchise fees, royalties, store set-up charges and fees from brands for shelf space and in-store display.
Read more about the business
Fast-moving consumer goods make up about three quarters of sales, with clothes, footwear and general merchandise the rest. The year has two peaks, the festival season and summer. In FY26 the company spent heavily on new stores and bought a mall property at Chiloda, which raised depreciation and finance costs.
The offer document names Osia Hyper Retail, listed on NSE Emerge, as its only listed peer.
From the offer document (Red Herring Prospectus, September 2025), the FY26 annual report and the exchange announcement of 17 September 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 30% a year over three years.
- It earns a high return on the money it uses: ROCE 25% in FY26.
To watch
- The tribunal's decision on revising the FY21 to FY23 accounts (Annual report FY26, p.24).
- Opening of the three new stores funded by the IPO and the ramp-up of the Mansa and Adani Shantigram stores (Offer document, p.119; Annual report FY26, p.23).
- What City Square Global LLC in New Jersey will do, as it had not started business when announced (exchange announcement, 17 September 2026).
- Accounting software with an audit trail, which the auditors said was missing for FY26 and the company is putting in place (Annual report FY26, p.63).
- Customers take longer to pay than before: 13 days in FY26, against 8 in FY22.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Jay Ambe Supermarkets revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Jay Ambe Supermarkets half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 18.23 | 29.13 | 30.56 | 40.93 |
| Expenses | 15.95 | 26.59 | 27.89 | 33.28 |
| Operating profit | 2.28 | 2.54 | 2.68 | 7.65 |
| OPM | 12.5% | 8.7% | 8.8% | 18.7% |
| Interest | 0.41 | 0.31 | 0.44 | 1.17 |
| Depreciation | 0.16 | 0.17 | 0.22 | 1.97 |
| Profit before tax | 1.73 | 2.08 | 2.04 | 4.55 |
| Net profit | 1.27 | 1.48 | 1.51 | 3.36 |
Jay Ambe Supermarkets profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 22.39 | 32.69 | 33.39 | 47.34 | 71.50 |
| Expenses | 21.95 | 31.44 | 30.23 | 42.35 | 61.17 |
| Operating profit | 0.44 | 1.25 | 3.16 | 4.99 | 10.33 |
| OPM | 2.0% | 3.8% | 9.5% | 10.5% | 14.4% |
| Other income | 0 | 0 | 0.03 | 0.05 | 0.06 |
| Interest | 0.22 | 0.57 | 0.77 | 0.90 | 1.61 |
| Depreciation | 0.14 | 0.23 | 0.29 | 0.33 | 2.18 |
| Profit before tax | 0.08 | 0.45 | 2.13 | 3.81 | 6.59 |
| Tax rate | 37.5% | 24.4% | 27.2% | 27.8% | 25.9% |
| Net profit | 0.05 | 0.35 | 1.55 | 2.75 | 4.88 |
| EPS ₹ | 0.31 | 1.88 | 7.75 | 4.22 | 6.25 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Jay Ambe Supermarkets profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 2.0% | 3.8% | 9.5% | 10.5% | 14.4% |
| Tax rate | 37.5% | 24.4% | 27.2% | 27.8% | 25.9% |
| ROCE | · | 12.5% | 21.7% | 24.5% | 24.5% |
| ROE | · | 15.1% | 29.1% | 26.0% | 20.3% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Jay Ambe Supermarkets debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Jay Ambe Supermarkets balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 1.60 | 1.73 | 2 | 6.52 | 8.88 |
| Reserves | -0.04 | 1.36 | 5.55 | 7.06 | 25.58 |
| Net worth | 1.56 | 3.09 | 7.55 | 13.58 | 34.46 |
| Borrowings | 4.23 | 7.47 | 8.56 | 8.70 | 10.24 |
| Other liabilities | 3.32 | 6.22 | 5.91 | 4.50 | 13.55 |
| Total liabilities | 9.11 | 16.78 | 22.02 | 26.78 | 58.25 |
| Fixed assets | 1.84 | 2.93 | 2.84 | 3.58 | 19.20 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0.32 | 1.85 |
| Other assets | 7.27 | 13.85 | 19.18 | 22.88 | 37.20 |
Jay Ambe Supermarkets cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | -0.91 | -3.11 | -1.67 | -3.02 | 3.08 |
| Cash from investing | -0.63 | -1.31 | -0.18 | -1.02 | -17.74 |
| Cash from financing | 1.39 | 3.87 | 3.24 | 2.62 | 16.24 |
| Net cash flow | -0.15 | -0.55 | 1.39 | -1.42 | 1.58 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 8 | 2 | 26 | 11 | 13 |
| Inventory days | 92 | 160 | 208 | 198 | 199 |
| Days payable | 58 | 77 | 74 | 29 | 20 |
| Cash conversion cycle | 41 | 84 | 160 | 180 | 191 |
| Working capital days | -20 | -5 | 26 | 65 | 100 |
Jay Ambe Supermarkets peers and competitors
Listed SME companies in the same industryBy sales, Jay Ambe Supermarkets is number 16 of the 26 listed SME companies in retailing.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Pace E-Commerce Ventures | 34 | 8.4 | 100 | 4 | 6.0% | 0.21 |
| Ahasolar Technologies | 21 | 102.0 | 92 | 0.2 | 0.7% | 0.06 |
| Aditya Consumer Marketing | 45 | - | 91.4 | -2.1 | -1.2% | 0.32 |
| Acetech E-Commerce | 216 | 21.0 | 82.8 | 10.3 | 16.9% | 0.00 |
| Vinit Mobile | 32 | 5.6 | 71.9 | 5.7 | 11.1% | 0.65 |
| Jay Ambe Supermarkets | 83 | 17.0 | 71.5 | 4.9 | 14.4% | 0.30 |
| Khemani Distributors & Marketing | 261 | - | 66 | -13 | -43.0% | 0.42 |
| MRP Agro | 100 | 24.4 | 59.1 | 4.1 | 9.1% | 0.06 |
| Fone4 Communications (India) | 10 | - | 51.4 | -3.6 | -8.9% | 0.25 |
| Net Avenue Technologies | 11 | - | 25.1 | -2 | -13.2% | 0.14 |
| Mafia Trends | 2 | 4.5 | 15.1 | 0.5 | 5.0% | 0.44 |
| Median of the 10 others | 33 | 14.7 | 69 | 0.3 | 2.9% | 0.23 |
Jay Ambe Supermarkets shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Jay Ambe Supermarkets shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 25 | Mar 26 | |
|---|---|---|
| Promoters | 52.46% | 52.46% |
| Foreign investors (FIIs) | 5.10% | - |
| Indian institutions (DIIs) | 11.59% | - |
| Number of shareholders | 131 | 84 |
Jay Ambe Supermarkets study: the business from its own documents
Read from 3 of the company's own documentsJay Ambe Supermarkets key facts from the filings
Each figure with the document it comes from
- Stores
- 18
- Stores across Gujarat after the FY26 openings at Mansa and Adani Shantigram; at listing ten were company-run and seven were franchise stores.Annual report FY26, p.4 and p.23; Offer document, p.166
- Groceries and FMCG
- 76.3%
- Share of FY25 revenue; apparel and footwear were 12.0% and general merchandise 10.3%.Offer document, p.177
- Home town
- 50.7%
- Share of FY25 revenue from Gandhinagar stores; Ahmedabad was 25.5%.Offer document, p.177
- Stock on hand
- ₹29.9 cr
- Inventory at March 2026, up from ₹19.0 cr, against FY26 revenue of ₹71.5 cr.Annual report FY26, p.60 to 61
- Store set-up income
- ₹1.8 cr
- FY26 charges for setting up stores, up from ₹1.3 cr, as the network grew.Annual report FY26, p.60
Show 5 more facts
- Capital spending
- ₹17.8 cr
- FY26 spending on buildings, fit-outs and leased stores, including the Chiloda mall property, against ₹1.1 cr a year earlier.Annual report FY26, p.59
- Depreciation and interest
- ₹2.2 cr and ₹1.6 cr
- FY26 charges, up from ₹0.33 cr and ₹0.72 cr, after the new stores and leases.Annual report FY26, p.60
- IPO
- ₹18.4 cr
- 23,64,800 new shares at ₹78, listed on BSE SME on 17 September 2025.Annual report FY26, p.24
- Suppliers
- 1,700+
- Manufacturers and suppliers, bought from on advance payment or cash on delivery.Offer document, p.167
- Old accounts
- Revision sought
- The company has asked the National Company Law Tribunal to let it revise its FY21 to FY23 accounts; the matter was listed for 8 October 2026.Annual report FY26, p.24
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it will keep adding stores in Gujarat's smaller cities, naming towns such as Anand, Jamnagar, Palanpur, Junagadh and Bhavnagar, and that stores opened or enlarged in FY26 should lift revenue and profit as they mature. The IPO was to pay for buying its Nana Chiloda store, fit-outs for three new stores and working capital. After the year ended it formed a New Jersey company, City Square Global LLC, holding 51%, which has not yet started business.
| What management said | When | What happened |
|---|---|---|
| Use ₹4.25 cr of IPO money to purchase the existing store at Nana Chiloda | Offer document, September 2025 | Chiloda property bought and held in the company's name in FY26 |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Jay Ambe earns its money selling everyday groceries and household goods through a growing chain of City Square Mart stores in Gujarat, plus fees from franchise partners and brands.
Its weak spots are thin margins on branded goods, a lot of money tied up in stock and new stores, and heavy reliance on Gandhinagar.
WatchCan it set its own prices?It stocks the same branded goods as every other shop and promises everyday low prices, so it follows the market.
AverageHow strong is it against rivals?A known local name in smaller Gujarat towns helps, but larger organised chains and quick-commerce apps are pressing harder.
StrongWho are its customers?Thousands of household shoppers, so no single buyer matters.
WatchDoes it need a lot of money?Each new store needs fit-outs, rent deposits and stock paid for upfront, so growth uses a lot of cash.
StrongCan it keep finding new work?Sales are growing both in existing stores and from new ones, and the company has named many towns it wants to enter.
AverageDo good and bad years swing a lot?People need everyday groceries in all years, but festival and summer seasons and new store costs move results within a year.
Who runs Jay Ambe Supermarkets?
Promoters, directors and officers; tap a name for the background
JAJignesh Amratbhai PatelPromoter, Chairman and Managing Director · holds 7.39%
A Bachelor of Commerce from M.C. Shah Commerce College, Gujarat University, with more than 19 years in supermarket chains; the offer document names Tesco, Sainsbury's, HUL, Star Bazaar and OSIA among earlier employers. A director since 2020 and Managing Director since September 2024; leads strategy and the overall business.
Offer document, p.167, p.209 and p.214BSBhikhabhai Shivdas PatelPromoter and Non-Executive Director · holds 7.64%
Passed the Secondary School Certificate examination in 1972 and has more than six years in retail; oversees administration, onboarding, attendance and staff training. The offer document states Bhikhabhai Shivdas Patel is the father of the Managing Director's spouse.
Offer document, p.210 to 211 and p.214 to 215HDHarshal Daxeshkumar PatelPromoter and Non-Executive Director · holds 5.27%
A civil engineering graduate of Gandhinagar Institute of Technology with over six years in business development, sales, project management and finance.
Offer document, p.209 to 210 and p.214RMRutwijkumar Maganbhai PatelPromoter and Non-Executive Director · holds 4.73%
A computer engineering graduate of Dharmsinh Desai University with over six years in retail management, marketing, risk management and regulatory compliance.
Offer document, p.211 and p.214TRTanmay Rajendrakumar MehtaIndependent Director
A chartered accountant since 2019 with law and commerce degrees, working in financial reporting, MIS and compliance reviews of listed companies. Joined the board in May 2025.
Offer document, p.214; Annual report FY26, p.26PPPoonam Pravinbhai PanchalIndependent Director
A BBA graduate with over eight years handling regulatory and statutory compliance for listed companies, including listing compliance and legal drafting.
Offer document, p.212 and p.214Jay Ambe Supermarkets latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹40.9 cr (+41%), net profit ₹3.4 cr (+127%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 52.46%.
Jay Ambe Supermarkets announcements
5 on record, latest first; each opens the filing on the exchange
Jay Ambe Supermarkets annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Jay Ambe Supermarkets share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Jay Ambe Supermarkets' data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (88,79,954 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹7.75) and FY25 (₹4.22) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Jay Ambe Supermarkets
What does Jay Ambe Supermarkets do?
Jay Ambe Supermarkets runs the City Square Mart chain of supermarkets in Gujarat, selling groceries, packaged foods, household goods, clothes, footwear and toys, from its own stores and through franchise partners. Its shares trade on BSE SME.
What is the share price of Jay Ambe Supermarkets?
₹93.5 at the close on 4 Nov 2026, from the exchange's daily figures.
What is the market cap of Jay Ambe Supermarkets?
₹83 cr at the close on 4 Nov 2026, on 88,79,954 shares.
What is the P/E of Jay Ambe Supermarkets?
17.0 times FY26 profit at the close on 4 Nov 2026 (our arithmetic).
What are Jay Ambe Supermarkets' revenue and profit?
Revenue ₹72 cr and profit after tax ₹5 cr in FY26.
Who are the promoters of Jay Ambe Supermarkets?
Jignesh Amratbhai Patel, Bhikhabhai Shivdas Patel, Harshal Daxeshkumar Patel, Rutwijkumar Maganbhai Patel; promoters held 52.46% at 31 March 2026.
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Built from 2 annual reports, 1 offer document, 5 exchange announcements, 2 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.