Jamna Auto Industries Limited (JAI) reported a very strong set of numbers for Q1FY19. Numbers surpassed expectations on all three counts i.e. revenue, EBITDA and PAT. Consolidated revenue more than doubled yoy (down 6% qoq) to Rs562cr, well above consensus estimate of Rs466cr. While higher raw material expenses put pressure on gross margins, the company was able to rein in operating costs leading to 147% yoy growth (16% qoq decline) in EBITDA to Rs75cr. EBITDA margin expanded 214bps yoy (contraction of 160bps qoq) to 13.4%. Consequently, EBITDA and EBITDA margin beat consensus expectation of Rs62cr and 13.2% respectively. Consolidated reported PAT was 130% yoy higher (14% qoq lower) at Rs40cr, beating consensus estimate of Rs32cr.
Jamna Auto Industries Ltd is currently trading at Rs. 87.95, up by 1.9 points or 2.21% from its previous closing of Rs. 86.05 on the BSE.
The scrip opened at Rs. 87.30 and has touched a high and low of Rs. 91.90 and Rs. 87.10 respectively. So far 75,72,677 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.
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