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Jamna Auto Industries Ltd. Stock Analysis

Small Cap
Evaluated by 2053 users | BSE: 520051 | NSE: JAMNAAUTO |
Auto Ancillary
Jamna Auto is the largest manufacturer of tapered leaf springs and parabolic springs for commercial vehicles in India and is the number one supplier to Tata Motors (TML) and Ashok Leyland (ALL), the two major commercial vehicle manufacturers in Indian market for over 54 years. The company is...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Jamna Auto Industries Ltd. has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 22.42%19.94%14.85%6.23%15.02%33.95%34.73%31.35%31.26%10.64%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 9031,1209808331,0951,2561,2921,7382,1351,129
Y-o-Y Gr. Rt.-24%-12.5%-15%31.4%14.7%2.9%34.5%22.8%-47.1%
Adjusted EPS (Rs.) 0.961.110.730.080.761.862.643.153.441.24
Y-o-Y Gr. Rt.-15.6%-34.2%-89%850%144.7%41.9%19.3%9.2%-64%
Book Value per Share (Rs.) 3.333.834.334.554.966.098.3510.6412.7912.97
Adjusted Net Profit 37.843.828.73.33073.910512613749.6
Net Op. Cash Flow (Rs. Cr.) 12471.286.744.798.113880.81262814.1
Debt to Cash Flow from Ops 1.1121.922.80.660.110.90.50.0134.71
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Jamna Auto Industries Ltd. should be analysed on a Consolidated basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 2.5%0.6%-4.4%-47.1%
Adjusted EPS 2.9%10.3%-22.3%-64%
Book Value per Share 16.321.215.81.4
Share Price 14.3% 13.3% -10.7% -1.3%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 35.0230.1417.391.8715.8833.6536.5933.1929.359.66
Operating Profit Margin (%) 11.888.968.875.968.7113.1815.6113.7813.0510.38
Net Profit Margin (%) 4.193.912.930.42.745.888.147.226.424.39
Debt to Equity 1.031.180.950.690.330.070.220.150.010.28
Working Capital Days 84971101157758577091146
Cash Conversion Cycle -18-6-6-1-9014171529
Entity Percentage Holding
Promoters 50.00%
Institutions 12.02%
Non-Institutions 37.97%
Pledged *1.090.870.600.290.000.000.002.053.574.80
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Jamna Auto Industries Ltd. and arrived at the following conclusion:

Past 10 year's financial track record indicates that Jamna Auto Industries Ltd. is a below average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Jamna Auto Industries Ltd.'s performance infers:

Jamna Auto Industries Ltd. earnings have grown by 10.3%, whereas share price has appreciated 13.3% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Jamna Auto Industries Ltd. share prices over the last 10 years. Here is what we found out:

Jamna Auto Industries Ltd. share price has appreciated 10.5% annually over the past ten years.

Jamna Auto is the largest manufacturer of tapered leaf springs and parabolic springs for commercial vehicles in India and is the number one supplier to Tata Motors (TML) and Ashok Leyland (ALL), the two major commercial vehicle manufacturers in Indian market for over 54 years.

The company is the largest spring manufacturer in the world with a capacity of 115,000 MTs per annum. It is the pioneer in bringing world class spring technology in India with its association with NHK Spring

Jamna Auto is the largest manufacturer of tapered leaf springs and parabolic springs for commercial vehicles in India and is the number one supplier to Tata Motors (TML) and Ashok Leyland (ALL), the two major commercial vehicle manufacturers in Indian market for over 54 years.

The company is the largest spring manufacturer in the world with a capacity of 115,000 MTs per annum. It is the pioneer in bringing world class spring technology in India with its association with NHK Spring Company, Japan. In continuation to its commitment for higher technology, Jamna Auto has set up a state-of-the-art in-house (Research & Development) R&D centre at Malanpur, Madhya Pradesh.

Jamna Auto's 1200 workforce from various streams of specialization manages operations to the tune of Rs. 620 crore (approx. $115 Million). The company has a pan-India presence with its corporate office in New Delhi and four manufacturing facilities at Yamuna Nagar, Haryana, Malanpur, Madhya Pradesh, Chennai, Tamil Nadu and Jamshedpur, Jharkhand -- at the moment that has enabled it to retain 60% market share of Indian OEMs (Original Equipment Manufacturers). The company’s wholly-owned subsidiary -- Jai Suspension System -- has already begun commercial production and has been supplying springs to TML’s Pant Nagar (Uttaranchal) Plant. The manufacturing facilities are TS16949 certified.

Products:

1. Leaf Springs-

A leaf spring is a simple form of spring, commonly used for the suspension in wheeled vehicles. A leaf spring can be made from several leaves stacked on top of each other in layers.

A leaf spring can either be attached directly to the frame at both ends or attached directly at one end, usually the front, with the other end attached through a shackle, a short swinging arm. The shackle takes up the tendency of the leaf spring to elongate when compressed and thus makes for softer springiness. Leaf springs are mainly used in heavy commercial vehicles such as vans and trucks, SUVs, and railway carriages. For heavy vehicles, they have the advantage of spreading the load more widely over the vehicle's chassis.

• Multileaf Springs 

Jamna Auto manufactures all kinds of multileaf springs being used in automobiles and special application vehicles. JAI uses the latest manufacturing technology available across the globe to achieve the highest Quality Standards. 

• Parabolic Springs   

JAI had been instrumental to introduce parabolic springs technology in India way back in 1988 for passenger cars and has now pioneered the same for commercial vehicles.

 2. Suspension Products-

JAI has tied up with Ridewell Suspensions of USA to manufacture Air Suspension, Bogie Suspension and Lift Axles in India. Ridewell has more than 42 patents in its name for various suspension products, to speak about its leadership in the field.

• Rear Air Suspension - 'Cow Horn Style'

• Lift Axle - Steerable / Non Steerable

• Bogie Suspension - Tandem Axle

Customers:

• Ford • Tata • Swaraj Mazda • Suzuki • Ashok Leyland • Toyota • Volvo • Eicher

Subsidiary:

Jai Suspension System

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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