The Maruti Suzuki plant at Manesar was shut down for a month following the July 18 violence, in which one senior official was killed. At present, the Manesar plant is rolling out about 800-1,000 units a day and expects production to return to complete normalcy by the middle of Oct. If this was the state at Maruti, naturally Jaybharat Bharat will also be affected. 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.

Not surprisingly, net profit for Q2FY13 was down 91% at Rs.56 lakh from Rs.6.66 crore in Q1Fy13. YoY, it is down 63%. Net sales was flat on a YoY but down 21% QoQ. Lower operating cost and a 93% drop in tax, helped the company stay in the black. NPM, which has crossed 3% in current Q1, was down at 2.18% in Q2. A small cap and low volume company, returns are capped and fortunes are interminably linked with that of Maruti. Hopefully, with Maruti bouncing back, Q3 could be much better.