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Jamna Auto Industries Q3 Review - Play On Medium, Heavy Commercial Vehicle Uptrend: Dolat Capital

Jamna Auto Industries Q3 Review - Play On Medium, Heavy Commercial Vehicle Uptrend: Dolat Capital

<div class="paragraphs"><p>An automobile combustion engine, suspension unit and front brake disc sit on a hydraulic platfrom on the engine and body wedding line. (Photographer: Krisztian Bocsi/Bloomberg)</p></div>
An automobile combustion engine, suspension unit and front brake disc sit on a hydraulic platfrom on the engine and body wedding line. (Photographer: Krisztian Bocsi/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Jamna Auto Industries Ltd. printed an impressive number in Q3 FY22. Consolidated Ebitda stood at Rs 597 million with margin at 13.4% (up 80 basis points QoQ).

Impact of higher raw material cost was offset by cost control measures and better mix. Original equipment manufacturer- aftermarket mix stood at 77:23 in Q3 FY22.

We believe that a fresh medium and heavy commercial vehicle cycle has begun which is poised for three-five years of upcycle led by traction in e-commerce, infra, real estate and mining activities.

Jamna Auto is an ideal play on revival on M&HCV cycle given its up 65% market share in leaf spring and strong presence in aftermarket with many allied products.

Click on the attachment to read the full report:

Dolat Capital Jamna Auto Q3FY22 Result Update.pdf

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