Jamna Auto Q4 Review - Good Show; Outlook Remains Positive: IDBI Capital
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.
IDBI Capital Report
Jamna Auto Industries Ltd.'s Q4 FY21 consolidated results were above our estimates on all parameters except Ebitda.
Revenue for the quarter stood at Rs 4.8 billion versus our estimates of Rs 4.5 billion; on account of higher medium and heavy commercial vehicle goods production of 136% YoY/50% QoQ to ~83k units.
Ebitda margin for the quarter stood at 14.9% versus our estimates of 17.3% due to higher raw material expenses.
We build volume growth of 29%/15% for FY22E/FY23E respectively on account of lower base, strong commercial vehicle demand due to government infra push and pickup in construction activities.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.