Jamna Auto posts a turnover of Rs 309.62cr for 9 mn FY08

Jamna Auto Industries Ltd, a part of the JAI Group and one of world’s top 7 producers of commercial vehicle springs, adopted the Unaudited Financial Results for the third quarter and nine months ended December 31, 2007.

The Hon’ble High Court of Punjab & Haryana recently approved the amalgamation of Jai Parabolic Springs Ltd (JPSL) and MAP Springs, with Jamna. The three have been amalgamated with effect from July 1, 2007.

The numbers for the third quarter and nine months ended December 31, 2007 are consolidated and include data of all three plants – Chennai, Yamunanagar and Malanpur. Hence the numbers cannot be compared with last year’s figures.

Highlights for third quarter ended December 31, 2007:

• Q3 FY08 Net Sales turnover at Rs 134.88 crore

• Q3 FY08 Net Profit at Rs 4.23 crore

• EBITDA margins for Q3 FY08 at 10.91%

• Q3 FY08 PAT margins at 3.14 %

Highlights for 9-months ended December 31, 2007:

• H1 FY08 Net Sales turnover up at Rs 309.62 crore

• H1 FY08 Net Profit up at Rs 10.45 crore

• EBITDA margins for H1 FY08 at 11.47 %

• H1 FY08 PAT margins at 3.38%

Commenting on the performance, Mr. Randeep Jauhar, CEO - Jamna Auto Industries Ltd said, “Post the merger, the company is focusing on consolidating its presence in the domestic spring and replacement market and enter the high-margin export market in a big way. Considering the fact that so many of our customers have announced new product launches at the recently held Auto Expo, we foresee improved growth in demand of our products. To cater to the growing demand, we have already chalked out Greenfield and Brownfield expansion plans which will augment our capacity to 2, 00,000 MTPA by the end of FY09.”

Jamna Auto recently announced the acquisition of the assets of the leaf-spring plant of Tata Motors ’ Ltd at Jamshedpur for a consideration of around Rs. 18 crore, which it plans to install at its upcoming Greenfield facility at Jamshedpur.

Clearwater Capital Partners – a Private Equity player has invested Rs 179 crore in terms of equity and debt in the company over a period of time. The equity investment made by them is at the rate of Rs 72 per share.

Sourced From: Adfactors Public Relations Pvt Ltd