JBM Auto Ltd. announces Q2FY17Financial Results
Profit (Before Tax) up by 19.54%, EPS up by 6%, Sales up by 9.19%
Tooling Division to grow by 30% in FY17
Gurgaon, : For the quarter ended 30 September 2016, JBM Auto Ltd, India’s leading automotive company (BSE: 532605 & NSE Code: JBMA) has reported a 19.54% jump in its profit before tax to Rs. 28.20 cr. as compared to Rs. 23.59 cr. in the same period last year. JBM Auto’s Q2FY17 sales stood at Rs. 451.78 cr. as compared to Rs. 413.77 cr. in Q2 FY16, registering a jump of 9.19%.
The company’s net profit stood at Rs. 19.03cr against Rs. 17.91 cr in FY 2015-16, increasing by 6.25%. EBIDTA increased by 9.48 % at Rs. 56.19 cr compared to Rs. 51.32 cr in the corresponding quarter last year. The Earnings per Share (EPS) for Q2FY17 stood at Rs. 4.60, compared to Rs. 4.34 in Q2FY16, registering an increase of 5.99%.
(including other income)
Profit Before Tax (PBT)
Profit After Tax(PAT)
Earnings Per Share
For the half year ended 30 September 2016, the company’s net profit increased by 6.30% to Rs. 37.13 cr compared to Rs. 34.93 cr for the half year ended 30 September 2015. The sales for the half year increased by 13.44% in the same period to Rs. 882.68 cr from Rs. 778.07cr.
At the end of the H1FY17, JBM Auto’s PBT stood at Rs. 52.68 cr against Rs. 53.04 cr, reduced by 0.67%. EBIDTA increased by 0.97% at Rs. 108.76 cr compared to Rs. 107.71 cr in the corresponding period last year. The Earnings per Share (EPS) for H1FY17 stood at Rs. 8.98, compared to Rs. 8.46 in H1FY16, registering an increase of 6.15%.
Significant developments during the quarter:
· JBM Auto Ltd. announced a joint venture with renowned Polish bus manufacturer - Solaris Bus & Coach. The JV Company - JBM Solaris (P) Ltd. will manufacture electric buses in India. The electric bus – ECOLIFE is already under the product development and design process and is expected to be ready with its first model by Q4FY17 and the second model by Q1FY18.
· The tooling division of the company had done a business of Rs.68cr in FY16. FY17 shall witness a growth of 30% in the tooling business topline.
· The company is undertaking design and development activity towards large tooling and complete cabin development of commercial vehicles.
· JBM Auto has secured substantial orders from Ford India Ltd. to be executed over the next year.
· JBM CITYLIFE CNG bus operations have commenced in Noida.
“The second quarter has shown improved numbers due to the positivity in the market with an upsurge in demand for both passenger cars & commercial vehicles. We have a pipeline of orders for next two quarters and there is a latent earning from our bus division that will show up in the books in Q3. Deliveries for our intra-city bus CITYLIFE have already commenced.These buseshave commenced operations on Noida-Greater Noida route. From the perspective of our tooling division, we expect to grow by atleast 30% this year. Overall, this will lead to a substantial rise in our numbers in the current year. We are hopeful of clocking a 25-30% jump in net profit in FY17”,JBM Auto’s Executive Director Mr. Nishant Arya said.
JBM’s in-house R&D, based in Delhi-NCR, works in sync with its three international R&D centres in Italy, China and UK. JBM Group is involved in the design of all vehicle segments right from concept stage including packaging and engineering projects with Fiat, Escorts, Volkswagen Group, Mercedes-Benz/Daimler, Kamaz, Ashok Leyland, Piaggio, Volvo and other OEMs. At the top end of the spectrum, JBM’s engineering services to Ferrari, Lamborghini and McLaren are able to provide higher margins and brand equity.
JBM Auto Limited is the flagship company of the US$1.35 billion JBM Group that has a diversified portfolio in the field of automotive, engineering & design services and renewables, with an infrastructure of 40 manufacturing plants and 4 engineering & design centers across 18 locations globally. JBM's focus on quality-delivery, frugal engineering, low time-to-market and art-to-part philosophy has provided the group an indomitable position in the automotive industry.