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Dolat Capital Report
JBM Auto Ltd. reported decent set of performance in Q2 FY21.
Net revenue grew by 7% YoY to Rs 5.17 billion led by growth in the bus division (up 221% YoY) to Rs 1.2 billion on low base and tooling division (up 15% YoY) to Rs 803 million partially offset by de-growth in component division (down 16% YoY) to Rs 3.16 billion.
We expect the bus division continue to deliver strong performance in coming year on the back of strong order book of 600 buses (including 350 electric buses).
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