Jamna Auto Industries Ltd

Jamna Auto Industries Limited is engaged in providing automotive suspension solutions for commercial vehicles. The Company is engaged in the business of manufacturing and selling of parabolic and tapered leaf springs.

Pros:
Company has reduced debt.
Company is virtually debt free.
Company is expected to give good quarter
Company has good consistent profit growth of 35.15% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 34.22%
Company has been maintaining a healthy dividend payout of 28.04%
Cons:

Peer Comparison Sector: Auto Ancillaries // Industry: Auto Ancillaries

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
333 273 304 383 271 385 470 597 562 548 487 543
276 234 262 323 241 335 409 507 487 480 423 474
Operating Profit 58 40 42 60 31 50 61 89 75 68 64 69
OPM % 17% 15% 14% 16% 11% 13% 13% 15% 13% 12% 13% 13%
Other Income 1 3 2 3 6 6 2 1 3 3 3 2
Interest 2 4 2 7 2 4 6 7 6 6 9 5
Depreciation 17 11 10 10 8 8 10 14 12 11 12 12
Profit before tax 39 28 32 46 26 44 47 70 61 54 46 54
Tax % 31% 22% 35% 24% 32% 33% 33% 33% 35% 35% 38% 38%
Net Profit 27 22 21 35 17 29 32 47 40 36 29 33
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
277 463 451 604 903 1,120 980 833 1,095 1,256 1,292 1,738 2,141
256 410 430 542 796 1,015 895 789 1,001 1,092 1,091 1,499 1,864
Operating Profit 21 53 21 62 107 104 86 44 95 164 201 239 277
OPM % 8% 11% 5% 10% 12% 9% 9% 5% 9% 13% 16% 14% 13%
Other Income 2 2 8 3 1 -2 2 22 2 7 6 9 11
Interest 12 27 36 26 22 19 27 24 18 20 14 20 26
Depreciation 4 8 9 14 32 32 29 26 31 45 48 41 46
Profit before tax 7 20 -16 25 54 51 32 17 47 105 145 186 215
Tax % 11% 20% 22% 22% 32% 18% 14% 17% 38% 32% 28% 33%
Net Profit 6 16 -13 19 37 42 28 14 29 72 105 125 137
EPS in Rs 0.36 0.47 0.00 0.51 0.90 0.89 0.66 0.32 0.69 1.69 2.57 3.08
Dividend Payout % 0% 0% -0% 0% 21% 33% 28% 29% 30% 31% 27% 27%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:14.14%
5 Years:12.14%
3 Years:16.65%
TTM:24.22%
Compounded Profit Growth
10 Years:22.20%
5 Years:35.15%
3 Years:62.10%
TTM:9.70%
Return on Equity
10 Years:24.77%
5 Years:26.66%
3 Years:34.22%
Last Year:33.12%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
18 37 40 40 43 43 43 41 40 40 40 40 40
Reserves -3 33 31 42 92 113 132 140 157 202 293 384 470
Borrowings 100 176 161 119 138 183 166 125 64 16 73 63 4
63 140 156 218 271 303 268 239 236 231 172 320 555
Total Liabilities 177 383 385 415 540 638 606 545 496 489 578 806 1,068
53 96 101 146 174 185 265 259 242 211 281 301 373
CWIP 11 37 56 22 30 89 17 2 8 65 20 31 40
Investments 12 5 5 5 5 5 5 0 0 0 0 0 0
102 244 223 242 331 359 318 283 247 213 276 474 655
Total Assets 177 383 385 415 540 638 606 545 496 489 578 806 1,068

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-4 -4 42 83 124 71 87 45 98 138 81 126
-17 -88 -51 -39 -53 -86 -32 24 -22 -75 -83 -72
23 103 6 -40 -64 13 -55 -66 -78 -66 6 -57
Net Cash Flow 1 11 -3 3 7 -1 -1 3 -2 -3 4 -2

Ratios Consolidated / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 27% 8% 23% 32% 24% 17% 8% 23% 49% 48% 46%
Debtor Days 55 61 48 32 53 42 40 47 19 11 10 40
Inventory Turnover 9.88 6.54 8.40 9.73 9.22 7.31 7.17 10.44 11.60 11.74 12.82