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Jay Bharat Maruti Ltd.

BSE: 520066 Sector: Auto
NSE: JAYBARMARU ISIN Code: INE571B01028
BSE 00:00 | 08 Aug 160.75 -1.60
(-0.99%)
OPEN

164.00

HIGH

164.05

LOW

159.90

NSE 00:00 | 08 Aug 160.90
(%)
OPEN

163.70

HIGH

165.45

LOW

159.80

OPEN 164.00
PREVIOUS CLOSE 162.35
VOLUME 2947
52-Week high 227.30
52-Week low 123.50
P/E 21.61
Mkt Cap.(Rs cr) 696
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 164.00
CLOSE 162.35
VOLUME 2947
52-Week high 227.30
52-Week low 123.50
P/E 21.61
Mkt Cap.(Rs cr) 696
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Jay Bharat Maruti Ltd. (JAYBARMARU) - Chairman Speech

Company chairman speech

Dear Shareholders

I am pleased to express my thoughts by way of this Annual Report of Jay Bharat MarutiLtd for FY2020-21. As I pen this message on the occasion of the 34th Annual GeneralMeeting of your company a famous quote from Sir. Winston Churchill resonates within me"A pessimist sees the difficulty in every opportunity; an optimist sees opportunityin every difficulty".

The year gone by has taken all of us through extremely difficult and unforeseensituations both at personal as well as professional fronts. Despite all our limitationswith regard to the understanding of COVID19 our resilience and perseverance enabled us tolearn and maneuver ourselves through the new normal. At this juncture on behalf of theentire JBM family I would like to extend my gratitude to all the doctors medical andsupport staff who relentlessly stood in the line of duty to save precious lives.

At Jay Bharat Maruti Ltd our value centre driven approach propelled the organizationgrow at a commendable pace owing to the initiation of the digital transformation journeyof your company during this time. Aligned to our objective of incorporating leanmanufacturing practices frugal engineering and reducing time to market we inductedArtificial Intelligence and Industry 4.0 in our processes and systems. This is much inline with our endeavor towards making Jay Bharat Maruti Ltd. the torchbearer of smartmanufacturing in India. With digital adoption as the driving force your company will bebetter equipped to add enhanced value to our esteemed partner Maruti Suzuki by offeringtechnology-based efficiencies. Jay Bharat Maruti Ltd. has grown from strength-to-strengthalongwith our partner Maruti Suzuki India Limited. Over these years this relationship hasconsistently gained momentum despite difficult situations that have only consolidated ourbelief and confidence as we march ahead in these transformatory times. Your company hasutilized this time constructively in incorporating new skill sets modern methodologies ofworking infusing smart technology thereby making the organisation hands-on in the newnormal. Your company is rapidly evolving with agility and dynamism as we are imbibingtechnology to introduce products and solutions that align with the requirements of thevehicles of tomorrow. Like when we started this journey the focus was towards simplerparts and components which transitioned to complex auto systems assemblies and solutionsi.e. from product-based approach to experience & solution-based approach.

Like the global economy the Indian economy too faced a setback due to the COVID19pandemic. The quarterly growth turned sharply negative during the first two quarters ofFY2020-21 on account of stringent pan-India lockdowns mandated to control the spread ofthe disease. With the gradual lifting of restrictions on the movement of people and goodsby the second half of the financial year the economy started showing initial signs towardsrecovery. But despite these signs of recovery the Gross Domestic Product (GDP) growth forFY2020-21 stood at -7.3% as compared to 4.0% in FY2019-20. The growth in the fourthquarter was largely powered by the manufacturing sector while the services sector remainedunresponsive. The manufacturing sector grew by 6.9% in Q4 FY2020-21 as against 1.7% in Q3and degrowth(4.2)% in the corresponding quarter of the previous year.

The Indian auto components industry accounts for around 2.3% of India's GDP and 25% tothe manufacturing GDP. During the five-year period between FY16 to FY20 the Indianautomotive components industry registered a CAGR of 6% to reach US$ 49.3 billion by FY20.During the first half of FY 2020-21 (from April to September 2020) the turnover of theautomotive components industry stood at Rs.1.19 lakh crore (US$ 15.9 billion) registeringa decline of 34% over the first half of the previous year. Exports from this industry grewat a CAGR of 7.6% during the same period to reach US$ 14.5 billion in FY20. As per theAutomobile Component Manufacturers Association (ACMA) automobile component export fromIndia is expected to reach US$ 80 billion by 2026. Your company's net profit for the yearstood at Rs. 26.06 Crores as against Rs. 28.02 Crores in FY20. In spite of the severeimpact of Covid-19 on the operations & financials of the Company in the first twoquarters of the 21 your Company was able to recover significantly post lockdown and inthe second half of FY 21 due to increase in Maruti Suzuki India Ltd. (MSIL) volumes andvarious cost reduction efforts resulted in to marginal jump in the overall EBITDA andprofits.

Our employees their families coupled with our responsibility towards the society andNation at large continues to be an essential ingredient of the strategic planning processof your company. It gives me immense pleasure to inform you that this year a revolutionaryinitiative Sankalp Siddhi has been inducted that aims at elevating the skill sets andinvoking the latent talents of our employees and their families.

To conclude I would like to thank our partner Maruti Suzuki India Ltd and Suzuki MotorGujarat Pvt. Ltd. for their continued patronage on our delivery prowess. I extend mysincere appreciation to the management and the staff of the company for their valuedcontribution to drive excellence as a practice. My sincere gratitude to you our valuedshareholders. Your faith and trust in our capabilities helps us gain the foundation thatwill enable us grow in times to come.

Finally it is imperative for me to state that getting vaccinated wearing masks andmaintaining social distancing is the only approach to control the spread of the pandemic.I urge all to follow these protocols so as to ensure safety for self and family. Kindlycontinue to follow the directives issued by the government and contribute towards savingthe Nation from the possible third wave of COVID19 pandemic.

I wish that we continue to prevail with positivity and grit as a team for us to bebuilding a better tomorrow for us all.

Stay Healthy Stay Safe

Thank You and Jai Hind.

SURENDRA KUMAR ARYA

C H A I R M A N

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