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Dolat Capital Report
JBM Auto Ltd. printed a standout performance in Q3. Net revenue jumped 39% YoY and 9% QoQ to Rs 8.2 billion led by 49% growth in the component 23% growth in original equipment manufacturer business (bus division) and 8% growth in the tooling division.
Despite the commodity inflation, JBM Auto managed to report decent margin at 10.4% led by operating leverage and cost cutting measures.
Despite the semiconductor supply challenges, the company is able to deliver strong revenue growth in the component business (sheet metal) led by new order wins from Mahindra and Mahindra Ltd. and Tata Motors Ltd. and price hike.
JBM Auto is the leading supplier of skin panel, body-in-white and chassis.
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