Jay Bharat Maruti

This company’s fortunes are indelibly linked with that of Maruti Suzuki. And given the fact that Maruti had a flattish growth over Q3, one did not expect too much from this company. It posted a net revenue of Rs.287 crore, a very flat YoY growth though sequentially, it rose 3%. But a major reduction in costs, higher other income helped the company end the quarter with a net profit at Rs.7.58 crore, up 64% though flat QoQ.

This auto part and equipment making company is a JV between the JBM Group and Maruti Suzuki, which holds 29.25% stake. JBM Industries holds 2.85%. Total promoter holding at 58.57%. Around 90% of its business comes from Maruti while the rest is sold to Eicher Motors and M&M. A small cap and low volume company, returns are capped and fortunes are interminably linked with that of Maruti. Hopefully, with Maruti expected to do much better in coming months, Q4 could be much better.