JBM Auto Q4 Review - Strong Show, Growth Trajectory To Continue: Dolat Capital
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Dolat Capital Report
JBM Auto Ltd. displayed a strong all-round performance in Q4 FY21.
Net revenue jumped 26% QoQ to Rs 7.45 billion led by 53% growth in the bus division, 28% in component division, partially offset by 35% de-growth in tooling division.
Bus division Ebit margin expanded up 342 basis points QoQ to 11.2%, and component division by 106 bps QoQ led by operating leverage and cost control measures, while tooling division contracted by 102 bps QoQ to 21.9%.
Although Q1 revenue is expected to be weak due to Covid-19 led lockdown, the management expects sharp recovery from Q2 onwards and guided revenue Rs 27-30 billion for FY22.
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