Jamna Auto Q4 Review - Good Show; Outlook Remains Positive: IDBI Capital

Brake and suspension system units stand in trolleys at the automaker's factory. (Photographer: Krisztian Bocsi/Bloomberg)

Jamna Auto Q4 Review - Good Show; Outlook Remains Positive: IDBI Capital

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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:

IDBI Capital Jamna Auto Q4FY21 Result Update.pdf

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