Jay Bharat Maruti hits new low

Jay Bharat Maruti posted a poor show and this was expected as Maruti itself has been having a tough time.  The company manufactures sheet metal components, assemblies and sub-assemblies and is a dedicated ancillary to Maruti Udyog, which holds 29.28% stake in the company.

On a 12.5% (YoY) decline in consolidated net sales at Rs.443 crore, it posted a 42% fall in net profit at Rs.8 crore. It managed to bring down its costs by 16% at Rs.29 crore. Yet, EBITDA was down 8% at Rs.39 crore.

Its equity is at Rs.10.82 crore and EPS came in at Rs.3.63 v/s 6.21 (FV of Rs.5/share).

The stock has been consistently hitting new lows  and today it hit a new 52-week low at Rs.181.