Jamna Auto Q4 Review - Ideal Play On CV Upcycle: Nirmal Bang

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.Jamna Auto Industries Ltd.’s results beat our estimates. The company’s Q4 FY22 revenue stood at Rs 6,259 million, up 40.7%/29.2% QoQ/YoY, largely ahead of industry growth of ~30% QoQ and beat our estimate of Rs 5,124 million mainly because of higher realisation and a favorable mix. Raw material cost inflation continued to hurt, resulting in the gross margin declining by ~310 bps QoQ to 31.8%, indicating the lag in raw material cost passthrough. Jamna Auto reported Ebitda margin of 13.9% (up 30 bps versus our estimate), up ~50 bps QoQ, largely driven by operating leverage. Reported Ebitda at Rs 869 million increased by 45.5% QoQ and was 25% ahead of our estimate, mainly due to higher-than-expected revenue. Jamna Auto continues to maintain a dominant market share in the original equipment manufacturers segment (68% in FY22)..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Jamna Auto Q4 Review - Ideal Play On CV Upcycle: Nirmal Bang

Jamna Auto Q4 Review - Ideal Play On CV Upcycle: Nirmal Bang

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