JBML Q2FY10 net profit at Rs 4.42 cr; up by 77.51%

Revenues at Rs 187.26 cr; up by 4%

Financial Highlights (all comparison to Q2FY08)

• Revenues at Rs 187.80 Crore up by 4% as compared to Rs 180.81 crore 
• EBIDTA at Rs 16.50 Crore up by 23.60% as compared to Rs 13.35 crore
• Net Profit at Rs 4.42 Crore up by 77.51% as compared to Rs 2.49 crore
• Operating margin stood at 4.80% as compared to 2.99%
• EPS for the period stood at Rs 2.04 v/s Rs 1.15

Financial Highlights (all comparison to H1FY08)

• Revenues at Rs 364.25 Crore up by 1.73% as compared to Rs 358.04 crore 
• EBIDTA at Rs 35.72 Crore up by 13.15% as compared to Rs 31.57 crore
• Net Profit of Rs 7.75 Crore up by 24.60% as compared to Rs 6.22 Crore
• Operating margin stood at 4.43% compared to 3.49% in Q2FY08
• EPS for the period stood at Rs 3.58 v/s Rs 2.87

Jay Bharat Maruti Limited (JBML) (BSE script code: 520066 and Script ID: JBML), leading supplier of auto components to Maruti Suzuki Ltd., today announced its financial results for the quarter ended September 30, 2009.

For the quarter ended September 30, 2009, the company recorded revenues of Rs 187.80 crore, an increase of 4% from Rs 180.81 crore in the corresponding quarter last fiscal. EBIDTA stood at Rs 16.50 crore, an increase of 23.60% as compared to Rs 13.35 crore in Q2 FY08. Net profit stood at Rs 4.42 crore, up by 77.51% from Rs 2.49 crore. The operating margins increased to 4.80% from 2.99% in the corresponding quarter last fiscal.

For the half year ended September 2009, Jay Bharat Maruti Ltd’s revenue was at Rs. 364.25 crore, up 1.73% from Rs. 358.04 crore during the corresponding period last year. The EBIDTA for the half year stood at Rs 35.72 crore, registering an increase of 13.15% from Rs 31.57 crore. The company reported a Net Profit of Rs. 7.75 crore, up 24.60% as against Rs. 6.22 crore in the same period last year. The operating margins increased to 4.43% from 3.49% in the corresponding quarter last fiscal.

Commenting on the results, Mr. S. K. Arya, Chairman, JBML said: “Given the global crisis, we are satisfied with this growth that is truly an indicator of our hard work and confidence of our investors. We would continue to invest in growing our partnerships and new projects to areas where our investors will benefit the most. We are looking at a consistent growth throughout this financial year.  ’’

About JBML
Jay Bharat Maruti Limited (JBML) is the manufacturer and major supplier of sheet metal components, assemblies and sub-assemblies, Fuel Neck, Rear Axles and Exhaust systems to Maruti Suzuki India Limited. JBML was incorporated in 1987 as a Joint Venture with Maruti Suzuki India Limited (MSIL). Keeping pace with the steep rise in demand and quality of passenger cars and the fierce competition from the entry of international auto majors in the country, JBML had to continually expand its manufacturing capacity and capability. The capacity, therefore, was expanded in 1991-92 and in 1993-94. A new plant was set up in 1995-96. The capacities were further expanded in 1996-97, 2001-02 and 2002-03.

The world-class manufacturing capabilities include imported and indigenous press lines, robotic welding lines as well as plating and painting facilities.

JBML added capabilities to produce exhaust systems, axles and fuel neck fillers to the existing capabilities of sheet metal components and welded modules. With several awards to its credit and support of its partners the company stands posed atop a launch pad to the future fully geared to meet new challenges and is destined to touch new heights in excellence.