JBM Auto Ltd

About

JBM Auto Ltd is engaged in the automotive business that manufactures and sells sheet metal components, tools, dies & moulds and buses including sale of spare parts accessories & maintenance contract of Buses.[1]

Key Points

Auto Components Segment (75% of revenues)[1]
Under this segment, the company manufactures auto systems & high-level assemblies. Its product portfolio include :
a. chassis & suspension systems like axles, twist beams, lower control arms, sub-frames, exhaust systems, air tanks, fuel tanks, complete cowl assemblies, pedal boxes
b. aesthetical parts like skin panels
(doors, roof, rear panel, front panel, bumpers)
c. BIW parts & assemblies (floor, upper body parts like pillar, roof header, cross car beam, cross car beam, cross truck beam, oil pan assembly) and many more.[2]

See full details
  • Market Cap 2,989 Cr.
  • Current Price 632
  • High / Low 666 / 224
  • Stock P/E 34.2
  • Book Value 158
  • Dividend Yield 0.24 %
  • ROCE 9.14 %
  • ROE 6.82 %
  • Face Value 5.00

Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 4.01 times its book value
  • The company has delivered a poor sales growth of 5.48% over past five years.
  • Company has a low return on equity of 11.22% for last 3 years.
  • Dividend payout has been low at 11.90% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
455 430 601 520 484 467 475 129 517 591 745 547
400 381 534 462 424 410 421 140 458 525 662 492
Operating Profit 55 49 67 58 60 57 54 -11 60 65 83 55
OPM % 12% 11% 11% 11% 12% 12% 11% -9% 12% 11% 11% 10%
Other Income 8 8 8 4 5 3 4 1 3 3 4 3
Interest 12 12 15 17 16 16 16 13 13 14 15 17
Depreciation 15 14 20 19 18 19 18 16 18 21 21 20
Profit before tax 36 31 40 26 31 26 24 -38 32 34 51 20
Tax % 35% 36% 32% 35% 35% 37% 36% 33% 35% 35% 36% 39%
Net Profit 21 20 27 17 20 16 16 -26 20 22 33 12
EPS in Rs 5.12 4.84 6.65 4.19 4.91 4.03 3.30 -5.47 4.33 4.64 6.92 2.58

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
415 732 967 1,171 1,364 1,557 1,518 1,501 1,633 2,207 1,947 1,982 2,400
366 653 856 1,038 1,209 1,366 1,328 1,336 1,429 1,949 1,717 1,784 2,136
Operating Profit 48 79 112 133 155 191 190 165 204 258 230 198 263
OPM % 12% 11% 12% 11% 11% 12% 13% 11% 12% 12% 12% 10% 11%
Other Income 2 2 6 4 6 6 6 35 24 27 16 12 13
Interest 15 20 39 43 36 35 53 53 49 59 64 55 60
Depreciation 21 23 30 33 40 40 59 50 56 75 74 76 80
Profit before tax 15 37 48 60 84 122 85 97 124 150 108 78 136
Tax % 37% 34% 33% 37% 32% 24% 26% 26% 34% 35% 36% 37%
Net Profit 8 22 26 33 50 76 52 72 70 98 69 49 87
EPS in Rs 1.99 5.27 6.34 7.99 12.31 18.73 12.84 17.63 17.27 24.04 14.63 10.42 18.47
Dividend Payout % 19% 9% 6% 10% 6% 13% 14% 11% 12% 9% 12% 14%
Compounded Sales Growth
10 Years:10%
5 Years:5%
3 Years:7%
TTM:54%
Compounded Profit Growth
10 Years:9%
5 Years:-1%
3 Years:-11%
TTM:233%
Stock Price CAGR
10 Years:45%
5 Years:20%
3 Years:29%
1 Year:168%
Return on Equity
10 Years:15%
5 Years:13%
3 Years:11%
Last Year:7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
15 15 15 15 20 30 30 20 20 20 24 24
Reserves 84 105 130 159 227 280 323 336 397 625 680 722
Borrowings 237 304 347 375 313 492 526 522 573 781 627 845
196 263 318 335 506 461 649 471 445 580 678 873
Total Liabilities 527 681 805 879 1,055 1,254 1,519 1,350 1,435 2,006 2,009 2,464
216 307 346 411 470 692 711 583 558 834 861 930
CWIP 36 19 32 40 79 12 27 35 63 70 90 300
Investments 3 5 13 13 13 16 16 76 91 48 54 54
272 350 415 415 494 534 764 656 723 1,054 1,004 1,179
Total Assets 527 681 805 879 1,055 1,254 1,519 1,350 1,435 2,006 2,009 2,464

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
12 49 92 117 203 66 145 119 69 152 370 216
-33 -116 -86 -96 -131 -200 -116 -65 -61 -190 -123 -363
14 64 -10 -23 -70 138 -34 -57 -8 46 -236 140
Net Cash Flow -7 -4 -3 -2 2 4 -4 -4 -0 9 11 -7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 70 69 71 64 64 54 70 75 79 101 93 91
Inventory Days 118 76 67 57 59 59 103 75 75 68 80 96
Days Payable 117 78 66 69 83 73 139 111 82 97 108 154
Cash Conversion Cycle 71 68 73 51 40 40 34 39 72 73 65 33
Working Capital Days 91 39 52 37 18 47 58 64 83 85 69 64
ROCE % 15% 18% 20% 22% 23% 16% 16% 18% 17% 12% 9%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
61.96 61.96 61.96 61.96 61.96 61.96 67.46 67.54 67.54 67.54 67.54 67.54
0.41 0.33 0.19 0.15 0.07 0.66 0.77 0.89 0.89 0.89 0.89 0.89
0.15 0.10 0.06 0.05 0.07 0.09 0.14 0.14 0.01 0.01 0.01 0.01
37.48 37.61 37.80 37.85 37.91 37.30 31.63 31.43 31.56 31.56 31.56 31.56

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