Jay Bharat Maruti Ltd

Jay Bharat Maruti Ltd

₹ 129 -2.21%
21 Feb - close price
About

Jay Bharat Maruti Limited, founded in 1983, in collaboration with Maruti Suzuki India Limited (MSIL), is the leading manufacturer of key auto components and assemblies such as exhaust systems, fuel fillers (fuel pipe), and suspension parts for passenger cars. Their manufacturing plants are located in Gurgaon, Bawal, Manesar (Haryana) and Gujarat. [1]

Key Points

Product Portfolio
The co. manufactures sheet metal-based BIW components, rear axle assemblies, fuel neck components, and assemblies, besides designing and developing dies, automotive machines, and equipment. [1]

  • Market Cap 1,391 Cr.
  • Current Price 129
  • High / Low 144 / 50.0
  • Stock P/E 40.5
  • Book Value 47.6
  • Dividend Yield 0.54 %
  • ROCE 11.1 %
  • ROE 7.56 %
  • Face Value 2.00

Pros

Cons

  • Stock is trading at 2.70 times its book value
  • The company has delivered a poor sales growth of 6.26% over past five years.
  • Company has a low return on equity of 6.55% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
496.03 540.98 411.55 467.55 505.72 694.57 554.24 580.64 535.97 673.36 533.17 613.33 547.51
445.59 482.80 380.81 435.65 466.11 646.88 515.14 537.44 496.32 622.01 495.73 568.07 506.95
Operating Profit 50.44 58.18 30.74 31.90 39.61 47.69 39.10 43.20 39.65 51.35 37.44 45.26 40.56
OPM % 10.17% 10.75% 7.47% 6.82% 7.83% 6.87% 7.05% 7.44% 7.40% 7.63% 7.02% 7.38% 7.41%
2.68 0.58 0.10 0.16 0.04 0.13 0.15 0.62 0.10 0.41 0.51 0.32 0.92
Interest 8.44 7.79 8.09 8.49 8.11 8.05 8.21 9.53 9.28 9.82 9.40 10.48 10.53
Depreciation 17.02 19.64 18.38 17.97 19.48 19.65 19.61 20.28 19.86 20.31 21.08 21.46 20.92
Profit before tax 27.66 31.33 4.37 5.60 12.06 20.12 11.43 14.01 10.61 21.63 7.47 13.64 10.03
Tax % 36.15% 36.32% 32.27% 38.04% 40.05% 31.31% 32.46% 36.40% 37.42% 34.72% 32.53% 36.29% 35.09%
17.66 19.96 2.96 3.48 7.23 13.81 7.72 8.91 6.63 14.11 5.05 8.69 6.50
EPS in Rs 1.63 1.84 0.27 0.32 0.67 1.28 0.71 0.82 0.61 1.30 0.47 0.80 0.60
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,068 1,180 1,212 1,294 1,302 1,527 1,730 1,994 1,658 1,499 2,078 2,344 2,367
983 1,087 1,105 1,189 1,185 1,394 1,575 1,819 1,517 1,363 1,928 2,171 2,193
Operating Profit 86 94 106 105 117 133 156 175 141 136 150 173 175
OPM % 8% 8% 9% 8% 9% 9% 9% 9% 9% 9% 7% 7% 7%
3 3 -12 7 4 1 4 3 2 4 0 1 2
Interest 22 20 22 21 22 18 20 34 38 33 33 37 40
Depreciation 38 46 46 38 39 41 49 61 63 66 75 80 84
Profit before tax 29 32 27 53 60 75 90 82 42 42 42 58 53
Tax % 32% 33% 40% 25% 33% 28% 35% 36% 34% 37% 35% 35%
20 22 17 40 40 54 59 52 28 26 27 37 34
EPS in Rs 1.81 1.99 1.53 3.70 3.68 4.97 5.44 4.82 2.59 2.41 2.54 3.45 3.17
Dividend Payout % 17% 15% 16% 11% 11% 10% 9% 10% 10% 10% 20% 20%
Compounded Sales Growth
10 Years: 7%
5 Years: 6%
3 Years: 12%
TTM: 0%
Compounded Profit Growth
10 Years: 6%
5 Years: -8%
3 Years: 10%
TTM: -7%
Stock Price CAGR
10 Years: 29%
5 Years: 22%
3 Years: 38%
1 Year: 122%
Return on Equity
10 Years: 11%
5 Years: 8%
3 Years: 7%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 11 11 11 11 11 11 11 11 11 11 22 22 22
Reserves 130 148 161 196 242 294 349 393 412 439 452 485 493
184 215 212 159 134 255 298 404 445 369 380 336 435
234 203 200 257 242 267 377 398 339 414 473 456 522
Total Liabilities 559 576 584 623 629 827 1,035 1,206 1,207 1,233 1,326 1,298 1,473
319 353 374 399 398 452 632 832 817 860 856 881 946
CWIP 25 22 23 1 8 64 93 51 143 83 62 23 74
Investments 2 2 2 2 8 12 15 17 21 24 26 26 29
213 199 185 221 214 300 295 305 226 266 382 368 424
Total Assets 559 576 584 623 629 827 1,035 1,206 1,207 1,233 1,326 1,298 1,473

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
72 66 107 88 95 58 209 128 154 163 106 154
-115 -78 -76 -21 -53 -160 -226 -195 -144 -50 -76 -65
44 13 -32 -67 -42 103 17 66 -10 -113 -29 -87
Net Cash Flow 1 1 -2 0 1 0 0 -1 1 1 1 3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 26 18 9 12 10 32 6 14 11 15 16 13
Inventory Days 32 33 38 45 49 35 56 40 35 49 47 40
Days Payable 75 54 49 57 52 56 50 49 47 66 60 51
Cash Conversion Cycle -17 -4 -2 -0 7 11 12 5 -1 -2 3 2
Working Capital Days -14 -16 -27 -20 -10 8 -16 -15 -20 -21 -9 1
ROCE % 18% 14% 16% 18% 21% 20% 18% 16% 10% 9% 9% 11%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
59.35% 59.35% 59.35% 59.35% 59.35% 59.35% 59.35% 59.35% 59.35% 59.35% 59.35% 59.35%
3.36% 3.50% 3.59% 3.49% 3.50% 3.43% 3.48% 3.42% 3.40% 3.55% 3.71% 3.63%
0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
0.64% 0.64% 0.64% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
36.63% 36.48% 36.40% 37.14% 37.13% 37.19% 37.15% 37.19% 37.24% 37.07% 36.92% 36.99%
No. of Shareholders 15,57825,51425,22725,05324,42124,16622,79321,96521,46221,17821,62223,528

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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