The company's products include parcel shelf, bonnet for tractor, rear assembly for tractor, stiff assembly, panel C pillar, marcopolo Front Assy, shelf center rear Assy and Tunnel Assy.

June 2014 quarter results

For the quarter ended June 2014, it registered a solid 50% rise in consolidated sales to Rs 388.95 crore. OPM improved 230 basis points to 14.0% which saw OP rising 80% to Rs 54.26 crore.

Other income stood at Rs 57 lakh against Rs 2 lakh and interest cost fell 11% to Rs 8.60 crore. As depreciation grew 6% to Rs 10.00 crore, PBT soared 211% to Rs 34.21 crore.

EO gains were Rs 2.02 crore against NIL. Thus PBT after EO grew 229% to Rs 36.23 crore.

Tax grew 131% to Rs 12.26 crore after which PAT jumped 320% to Rs 23.97 crore.

Minority interest grew 60% to Rs 2.57 crore after which consolidated net profit rocketed 422% to Rs 21.40 crore.

In FY 2014 sales had grown 16% to Rs 1363.89 crore and PAT had jumped 54% to Rs 50.21 crore

Quarter Segment results

For the quarter, sales from the Sheet Metal Division grew 43% to Rs 359.37 crore and accounted for 95% of sales. PBIT from the same jumped 61% to Rs 31.47 crore and accounted for 75% of total.

For the quarter, sales from the Tool Room Division jumped 130% to Rs 17.47 crore and accounted for 5% of sales. PBIT from the same rocketed to Rs 6.72 crore, up 350%.

PBIT Margin of both the segments improve considerably

In June 2014 quarter, PBUT margin of the Sheet Metal Division grew from 7.8% to 8.8% while that of the Tool Room Division grew sharply from 29.6% to 38.5%.

Its products are widely used in two-wheelers, cars, tractors and trucks, white goods industries and other sectors

The company's products are widely used in two-wheelers, cars, tractors and trucks, white goods industries and other sectors in India and overseas.

The company's manufacturing facilities and tool rooms are strategically located in close proximity of leading automobile hubs of India at Faridabad, Greater Noida, Nashik, Chennai, Sanand and Pune for catering to diversified clients.

In terms of its auto components basket, JBM is a supplier of body-in-white and chassis parts for the Ford EcoSport SUV as well as the Honda Amaze saloon and will also supply a range of components ranging from skin panels, axles, body-in-white, chassis parts, exhausts and suspension parts to new models to come from Maruti Suzuki.

In line with the changing trend, JBM is focusing on enhancing its development capabilities that involves conceptualising the part design to its final production.

Thus far, Indian part makers were given the product designs by OEMs and manufactured the parts based on specifications given to them. Now JBM is building competencies in chassis and suspension, designing complete cabs for CVs, new exhaust systems and other customer solutions.

It also provides engineering services to leading auto companies

JBM is involved in the design of all vehicle types right from concept stage including packaging and engineering and is working on projects with Volvo, Fiat, Mahindra & Mahindra, Volkswagen AG, Ashok Leyland, Tata Motors and other OEMs. It also provides engineering services to Mercedes-Benz/Daimler, Lamborghini and McLaren.

JBM is also strong in verticals like suspension, vehicle integration, electronics and trim and JBM is now tapping these avenues for growth. While the parts maker is focusing on optimising its investments this fiscal, it continues to work on several new projects even as it waits for the market to pick up.

JBM Auto has focused on sharpening its designing, simulation and engineering (CAD/CAM/CAE) capabilities. JBM Auto through use of latest industry great software-CATIA, UG, Die Design Bundle, I-DEAS, C3P, VISI CAD is well poised to deliver customised solutions with speed and accuracy.

It has strong subsidiaries and IVs

JBM MA Automotive

Incorporated in 2007, JBM MA Automotive Pvt Ltd (JBMMA) is a 50:50 joint venture (JV) between JBM Auto and MA SPA, Italy (MA, Part of the CLN Group). JBM Auto has invested Rs 30.4 crore towards the equity capital in this JV.

The JV has been formed to undertake the manufacture and supply of sheet metal parts namely skin panels, under body panels and other assemblies to Tata Motors Limited (TML), Fiat India Automobiles Private Ltd (FIAPl-Tata Fiat JV) and the Volkswagen Group.

It began commercial production from its plants at Pune (Maharashtra) on 15th January, 2009 and is currently supplying parts for TML's ‘Indica' and current supplies sheet metal components limited to the ‘Indica Vista' model of TML and the ‘Linea' and ‘Grande Punto' models of FIAPL

Indo-Toolings Pvt Ltd

Indo-Toolings Private Ltd (ITPL) is 50:50 joint venture of JBM Auto and Sandhar Technologies ltd and is the largest and best equipped Commercial Tool Room in Central India, located at Indore, the industrial and commercial Capital of Madhya Pradesh.

ITPL is the complete solution provider for all kinds of tooling requirement, including stamping tools, plastic injection moulds, PDC dies, fixtures etc

JBM Auto System Private Ltd (JBMAS)

In April, 2009, JBMAL acquired a 73.89% interest from Thyssenkrupp Tallent Limited (TKTL) in the ThyssenKrupp JBM (P) Ltd., a joint venture between JBM and TKTL, known as JBM Auto System Private Limited (JBMASL). After this acquisition, JBMASL has become subsidiary of the company, JBMAL holds 2.95 crore shares in JBMASL aggregating Rs 29.5 crore.

JBM Ogihara Automotive India Ltd (JOAI)

JOAI is a joint venture company between JBM Group of India and Ogihara Thailand. The company established in February 2009, has a well equipped plant located at Bangalore in TKM Onsite Supplier Park. JOAI Limited is instrumental in the production of different kinds of press parts, nuts/bolt weld, assembly parts and fuel pipes required in the automobile industry.

The ultra modern plant includes a welding shop, robot welding, light press and a jumbiki area. The company with its well equipped plants and robust manufacturing capacities in varied automotive parts is a reliable and strong supplier to the automobile industry

.Bonus and stock split

The company has declared Bonus Shares in the ratio 1:1 i.e. One Bonus Share each for One equity Shares held.

It will also split its existing Equity Shares of Rs. 10/- per Share to Rs. 5/- per Share.

Valuation

The share price trades at Rs 434.