Jamna Auto Industries Ltd

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Company Profile

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Market Capitalization

INR 800 Cr Approx. (Share Price INR 200/-)

Production Spring Capacity

2013 – 150,000 MT 2014 – 180,000 MT

Alliance Ridewell (USA) – Air Suspension & Lift Axle

Manufacturing Plants 6 Plants in 5 States

Listed in Stock Exchange

BSE – 520051, JAMNAUTO NSE – JAMNAAUTO

Sales

3rd in the World

2

Jamna Auto Industries Ltd

Jamna Auto – INR 1200 Cr

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Global Spring Manufacturers Global Leaf Market Scale

3

Current

1980’s Leaf Spring Manufacturer Base Country CapacityNHK Spring Co. Ltd. Japan 2,00,000Delphi USA 1,00,000Eaton/Oxford Canada 1,00,000Krupp Germany 40,000Hendrickson USA 40,000DSP USA 40,000Rejna Europe 40,000Hoesh Germany 30,000Sarfedern Germany 20,000Johns Woodhead UK 10,000

Indian Market Scenario

Leaf Spring Manufacturer Base Country CapacityRassini Mexico 2,50,000Hendrickson Canada & Mexico 1,90,000Jamna Auto Industries Ltd. India 1,80,000NHK Spring Co. Ltd. Japan & Thiland 1,50,000Ventanna Eurpoe 1,10,000Dong Feng China 1,05,000FAW China 1,00,000MBHA Spain 36,000Olgin Turkey 28,000LPDN Eurpoe 24,000

Jamna Auto66%

Toyo14%

Friends Auto7%

Soni3%

Agya Auto3%

Vikrant3% Others

4%

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Jamna Auto Industries Ltd - Share Holding

Promoters

Foreign Corporate Bodies

General Public

Other Companies

Foreign - NRI

Foreign Institutions

Others

NBFC and Mutual Funds

Financial Institutions

Category No. of Shares Percentage

Promoters 1,74,09,830 43.81

Foreign Corporate Bodies 1,21,52,005 30.58 * General Public 76,37,767 19.22

Other Companies 6,87,856 1.73

Foreign - NRI 1,49,303 0.38

Others 15,53,920 3.91

NBFC and Mutual Funds 1,39,150 0.35

Financial Institutions 9,150 0.02

Total 3,97,38,981 100.00

* Foreign Corporate Bodies %25

NHK Spring Co, Japan 6 Total 31

Clearwater Capital (Cyprus & Singapore)

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OEM Market Share 66%, OEM Share in Parabolic: 95%

Manufacturing more than 350 Parts

Industry Leader (in India) nearest competitor 15 % Market Share

Strategically located all over India

FY 15 Sales INR 1200 Cr & Installed Capacity 180,000 MT p.a.

JAI’s Strength

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Conventional Leaf spring

Parabolic Leaf Spring Lift Axle

Current Products

Air Suspension

Products

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Locations

Yamuna Nagar

Malanpur

Chennai

Jamshedpur

Pant Nagar

Hosur

Products

Leaf Spring

Parabolic Spring

Lift Axle

Air Suspension

Markets

OE India

AM India

OE – Exports

AM – Exports

6 Locations 4 Products 4 Markets

Assembly Plants

Main Plants

* OE India- Original Equipment Manufacturer

* AM India – After Market India

Presence

Serving more than 20 OEM Customer Locations in India 7/17

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Domestic Customers

Exports Customers

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TATA Motors

TATA Motors

Pant Nagar

Bhuj

1. TATA Motors

2. Ashok Leyland

Ropar

Indore

Bangalore

1. VOVLO

2. Ashok Leyland

3. Kamaz Vectra

4. Leyland Nissan

5. Scania

Chennai 1. Ashok Leyland

2. Bharat Benz (Daimler)

3. Renault Nissan

4. Ford India

5. ISUZU

OEM Plants

JAI &OEMs Presence in India

AMW

Lucknow

Jamshedpur

JAI – Chennai

JAI – Jamshedpur

JAI – Pantnagar

JAI – Yamuna Nagar

JAI – Gwalior

JAI – Hosur

JAI Existing Plants

SML ISUZU

1. VECV

2. Force Motors

3. MTI

Pune TATA Motors

Alwar Ashok Leyland

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Project Lakshya Jai’s medium term strategy focused on value creation

Product Derisking

33% Revenue from New Products

33% ROCE

Diversifying Markets

33% Revenue from New Market

33% Dividend Payout

Maximizing Efficiency

33% Break Even

Point

Net Block to be funded by Net

Worth

Operational Goals

Financial Goals

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Jamna Auto Industries Ltd

H1 Update

2015-16

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Jamna Auto Industries Ltd H1 Highlights

• Upgradation of Credit Ratings by ICRA Long Term Rating from A- to A+ Short Term Rating from A2+ to A1+ • Healthy Liquidity

INR in Cr

Unutilized Working Capital Limits (PO Finance & Cash Credit)

48

BOE/Discountable Invoices in hand (Volvo, Nissan, SML, VE Commercial)

5

Balance in Current Accounts 13

Total 66

Since Jamna is into CV Industry which is cyclical in nature, these funds will be used for better cash flow management

during down trend

Note: Above liquidity is after Steel Buying of INR 50 Cr done on Cash Discount basis Q2 12/17

Jamna Auto Industries Ltd Borrowing Trend

Note: Long Term Debt as on 30.09.2015 includes one year Term Loan liability of INR 34 Cr

93 105

62 52

45

71

18

0

12 6

164

123

62 63

51

-

20

40

60

80

100

120

140

160

180

M A R 2 0 1 3 M A R 2 0 1 4 M A R 2 0 1 5 J U N - 1 5 S E P - 1 5

Long Term

Short Term (WC)

Total Borrowing

INR in CrINR in Cr Current year Capex of INR 75 Cr will be met out of internal cash generations

Capex incurred till date INR 43 Cr

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Commercial Vehicle Trends & Market Share Jamna Auto Industries Ltd

H1 2014-15

H1 2015-16

H1 Growth

Growth in 2014-15

M & HCV Production (Nos.)

1,25,260 1,63,804 31% 21%

LCVs (Nos.) 2,13,686 2,04,610 -4% -10%

Vehicle Production (Nos.)

3,38,946 3,68,414 9% -0.3%

Spring Demand (MTs) 74,898 88,218 18% 20%

JAI 's Business (MTs) – OEM 47,186 58,400 24% 33%

Market Share (%) 63 66 3% 6%

JAI’s presence

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Jamna Auto Industries Ltd Sales Comparison (In MTs) Springs (Figures in MT)

2014-15 2015-16 2014-15 2015-16 2014-15Q2 Q2 H1 H1 FY

OEM 24,300 82.4% 31,175 85.9% 47,186 82.7% 58,400 84.4% 1,04,032 82.8%Replacement 5,195 17.6% 5,121 14.1% 9,902 17.3% 10,801 15.6% 21,565 17.2%

Total 29,495 100% 36,296 100% 57,088 100% 69,201 100% 1,25,597 100%

Growth 23% 21%

Lift Axle (Nos.) 2014-15 2015-16 2014-15H1 H1 FY

2,236 8,194 6,940

Growth 266%

Net Sales (INR in Cr) 2014-15 2015-16 2014-15

(Standalone) H1 H1 FY

443 530 979

Growth 20%

Net Sales (INR in Cr) 2014-15 2015-16 2014-15

(Consolidated) H1 H1 FY

491 608 1,095

Growth 24%

Segment % %%% %

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Jamna Auto Industries Ltd Financial Results (Standalone) Q2 H1

INR in Cr INR in Cr2014-15 2015-16 2015-16 Growth* 2014-15 2014-15 2015-16 Growth*

Q-2 Q-1 Q-2 in % FY H1 H1 in %

Net Sales 233.0 254.2 275.4 18% Net Sales 979.2 443.1 529.6 20%

Export Sales 4.4 2.7 1.5 -67% Export Sales 10.8 6.3 4.2 -34%

EBITDA 13.7 27.7 34.0 148% EBITDA 86.0 29.8 61.7 107%

Operating Margin 7.7 19.9 22.5 194% Operating Margin 56.7 17.5 42.4 141%

PBT 3.3 16.9 18.9 480% PBT 39.8 9.0 35.8 298%

PAT 3.4 13.9 15.3 350% PAT 29.4 8.6 29.2 239%

Cash Accruals 9.5 21.7 26.8 183% Cash Accruals 58.7 20.8 48.5 133%

EBITDA Margin (%) 5.9% 10.9% 12.4% 110% EBITDA Margin (%) 8.8% 6.7% 11.6% 73%

Operating Margin (%) 3.3% 7.8% 8.2% 149% Operating Margin (%) 5.8% 4.0% 8.0% 102%

PBT (%) 1.4% 6.6% 6.9% 391% PBT (%) 4.1% 2.0% 6.8% 233%

PAT (%) 1.5% 5.5% 5.5% 281% PAT (%) 3.0% 1.9% 5.5% 184%

Cash Accruals 4.1% 8.5% 9.7% 140% Cash Accruals (%) 6.0% 4.7% 9.2% 95%

* Growth over Q2 of 2014-15 * Growth over H1 of 2014-15

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Jamna Auto Industries Ltd Financial Results (Consolidated) Q2 H1

INR in Cr INR in Cr2014-15 2015-16 2015-16 Growth* 2014-15 2014-15 2015-16 Growth*

Q-2 Q-1 Q-2 in % FY H1 H1 in %

Net Sales 255.9 290.1 317.7 24% Net Sales 1,095.0 490.9 607.8 24%

Export Sales 4.4 2.7 1.5 -67% Export Sales 10.8 6.3 4.2 -34%

EBITDA 15.4 30.2 37.7 145% EBITDA 96.5 34.3 67.9 98%

Operating Margin 9.0 21.9 25.9 188% Operating Margin 65.4 21.0 47.8 128%

PBT 4.3 18.7 22.2 415% PBT 47.4 11.8 40.9 246%

PAT 3.2 12.8 15.3 381% PAT 29.4 8.6 28.1 226%

Cash Accruals 9.6 21.1 27.1 183% Cash Accruals 60.5 22.0 48.2 119%

EBITDA Margin (%) 6.0% 10.4% 11.9% 97% EBITDA Margin (%) 8.8% 7.0% 11.2% 60%

Operating Margin (%) 3.5% 7.5% 8.2% 132% Operating Margin (%) 6.0% 4.3% 7.9% 84%

PBT (%) 1.7% 6.5% 7.0% 315% PBT (%) 4.3% 2.4% 6.7% 179%

PAT (%) 1.2% 4.4% 4.8% 287% PAT (%) 2.7% 1.8% 4.6% 163%

Cash Accruals 3.7% 7.3% 8.5% 128% Cash Accruals (%) 5.5% 4.5% 7.9% 77%

* Growth over Q2 of 2014-15 * Growth over H1 of 2014-15

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