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JBM Auto hits new high, stock zooms over 100% in five weeks

The stock hit a new high of Rs 624, zoomed 101% from Rs 310 on August 8, 2017 as compared to 3% rise in the S&P BSE Sensex

SI Reporter  |  Mumbai 

JBM Auto hits new high; stock zooms over 100% in five weeks

hit a new high of Rs 624, up 6%, extending its Thursday’s 7% rally on BSE on back of heavy volumes. The stock of auto ancillary Company has more than doubled in past five weeks. It zoomed 101% from Rs 310 on August 8, 2017 as compared to 3% rise in the S&P BSE Sensex.

had reported a consolidated net profit of Rs 19.40 crore in June quarter (Q1FY18). It posted profit of Rs 18.51 crore in previous year quarter, which includes exceptional one-time gain of Rs 11.05 crore. EBITDA (earnings before interest, tax, depreciation and amortization) margin improved to 13.56% in Q1FY18 from 9.14% in Q1FY17.

The company’s component division, which accounts 97% of total sales, posted more than doubled profit before tax and finance cost of Rs 32.98 crore in Q1FY18 against Rs 16.01 crore in year ago quarter.

made steady progress on its strategic priorities of improved capacity utilization and manpower productivity, aggressive expansion of share across product offerings, margin expansion through value-added products and an increased contribution from our tool room division, and steady progress in newly ventured Bus division. The new businesses were secured from more than half a dozen OEMs in component division where the real impact would become visible from the ensuing financial year,” Surendra Kumar Arya, Chairman, said in the company’s 2016-17 annual report.

JBM Group is primarily a tier- 1 supplier to the automotive industry and caters services to esteemed clients that include Ashok Leyland, Bajaj Auto Ltd, Fiat, Ford, General Motors Corporation, Honda, Hero, JCB, Mahindra, Maruti Suzuki, Renault, Nissan, TATA, Toyota, TVS, Volvo-Eicher, Volkswagen and many more.

At 10:13 AM,the stock was up 5% at Rs 619 on BSE, as compared to 0.19% fall in the Sensex. A combined 841,752 shares changed hands on the counter on BSE and NSE so far.

First Published: Fri, September 15 2017. 10:16 IST