AI assistant
Jamna Auto Industries Ltd. Interim / Quarterly Report 2022
59193_rns_2021-11-10_bfda3df4-7ed4-4556-8178-7dc83d2c5377.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
November 10, 2021
EG To, Exchange Plaza, Plot No. C/1, G- Block, Exchange Plaza, Plot no. C/1, G Block, Phiroze Jeejeebhoy Towers, Dalal Bandra-Kurla Complex, Bandra (E) Street, Mumbai- 400001 Maharashtra Mumbai - 400 051, Maharashtra
BSE Limited National Stock Exchange of India Limited
BSE Code: 520051 NSE Code: JAMNAAUTO
Subject: Outcome of Board Meeting held on November 10, 2021
Dear Sir/Madam,
This is to inform you that the Board of Directors of the Company at their meeting held today interalia has:
-
- Considered and approved the Unaudited Standalone and Consolidated Financial Results of Company for the quarter and half year ended September 30, 2021.
-
- Received the limited review report from statutory auditor with respect to unaudited Standalone and Consolidated Financial Results of Company for the quarter and half year ended September 30, 2021.
-
- Declared an Interim Dividend of Rs.0.50 (fifty paisa) per equity shares of nominal value of Rs.1 each for the financial year 2021-22 and fixed Tuesday, November 23, 2021 as record date for the purpose of payment of Interim Dividend.
Pursuant to Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, please find enclosed herewith the un-audited financial results along with limited review report for the quarter and half year ended September 30, 2021.
Kindly take the above information on records.
Thanking you, Yours faithfully, LA amna Auto Industries Limited s
Praveen Lakhera Company Secretary & Head-Legal Encl: As above s
Corporate Office: 2 Park Lane, Kishan Garh, Vasant Kunj, New Delhi.- 110070. Tele: 91-11-26893331, 26896960, 32648668 | Fax: 91-11-26893192 | www.jaispring.com | CIN: L35911HR1965PLC004485 Regd Office: Jai Spring Road, Yamuna Nagar (Haryana) - 135 001, India | Tel: 91-173:2-251810 | Fax: 91-1732-251820 YAMUNA NAGAR | MALANPUR | CHENNAI | JAMSHEDPUR | PANTNAGAR | HOSUR | PUNE | LUCKNOW
S.R. BATLIBOI & Co. LLP Coll Mew Sorporate Tower" Chartered Accountants Gurugram - 122 002, Haryana, India
2nd & 3rd Floor Tel: +91 124 681 6000
Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
Review Report to The Board of Directors Jamna Auto Industries Limited
- We have reviewed the accompanying statement of unaudited standalone financial results of Jamna Auto Industries Limited (the "Company") for the quarter ended September 30, 2021 and year to date from April 01, 2021 to September 30, 2021 (the "Statement'") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
- This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interrm Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
- We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement 1s free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review 1s substantially less 1n scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
- Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down 1n the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Digitally signed by PANKAJ CHADHA DN: on=PANKAJ CHADHA, c=IN,
o=Personal, email=[email protected]
For S.R. BATLIBOI & Co. LLP Chartered Accountants ICAI Firm registration number: 301003E/E300005
. Reason: | am approving this document per Pankaj Chadha C H A D H A Date: 2021.11.10 15:28:37 +05'30' Partner Membership No.: 091813 UDIN: 21091813 AAAAEH5027 Place: Gurugram Date: November 10, 2021
JAMNA AUTO INDUSTRIES LIMITED
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2021
| JAMNA AUTO INDUSTRIES LIMITED | ||||||
|---|---|---|---|---|---|---|
| Regd Office: Jai Spring Road, Yamuna Nagar, Haryana -135001STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER | AND | HALF YEAR ENDED SEPTEMBER 30, 2021 | (Rs. in Lakhs) | |||
| ParticularsSk. | W) | Quarter endedwited) | aited) | Half year endedwi | aited) | 'Year ended |
| Income from operations | 30.09.2021 | 30.06.2021 | 30.09.2020 | (Audited) | ||
| 1a Revenue from operationsb] Other income | 32,801.35217.32 | 29,037.00}162.83] | 18,447.19}$19.92 | 30,09.202161,838.35380.15 | 30.09.202024,740.54)577.07, | 31.03.20211,05,270.661,401.87 |
| Total revenueExpenses2a}Cost of raw materials and components consumed | 33,018.6720,157.81 | 29,199.8321,543.54) | 18,967.1111,806.42 | 62,218.5043,701.35 | 25,317.6115,117.11 | 1,06,672.5367,400.79 |
| b Purchase of traded goods¢}Changes in inventories of finished goods,work in progress and traded goods{Employee benefit expenses Other expenses | 271.6915.092,941.755,404.34 | 145.31(3,216.26) 2,840.604,436.62) | 123.30(992.37)2,315.283,569.18} | 423.00(3,201.17)5,782.359,840.96 | 123.30(873.62) 4,298.28§,142.71 | 633.12(3,531.12)10,667.8817,395.37 |
| Total expenses Profit/(Loss) before finance costs, depreciation/amortization expense and tax (1-2)3.4 | 28,796.684,221.99 | 25,749.813,450.02 | 16,821.812,145.30 | 54,546.497,672.01 | 23,807.791,509.82 | 92,566.0414,106.49 |
| [Finance costs a Financecosts,b] Finance incomeINet finance costs (a-b)[Depreciation and amortization expenses5. | 54.6332.3622.27877.30 | 92.69]34.48)S821738.29) | 117.3338.7478.59780,02 | 147.3266.8480.481,665.59 | 315.0275.73 239.291524.30 | 583.53141.50442.033,399.35 |
| Profit/(Loss) before tax (3-4-5)67 Tax expensesal Current taxb Deferred tax credit | 3,322.42910.10(30.15) | 2,603.52807.45(147.78) | 1,286.6925.20}318.39} | 5,925.941,717.55(197.93) | (253.77)25.20](27.12) | 10,265.112,868.46(275.16) |
| Total tax expense (a+b)8 Profit/(Loss) for the period (6-7) Other Comprehensive Income/(Loss)9Other comprehensive income/(loss) not to be reclassified to profit or loss in subsequent | 859.952,462.47 | 659.671,943.85 | 343.59943.10 | 1,519.624,406.32 | (1.92)(251.85) | 2,593.307,671.81 |
| periods- Re-measurement loss on defined benefit plans- Deferred tax impact on above Other comprehensive income/(loss) for the period, net of tax | (iL)287(8.54) | =-x | (38.90)9.79)(29.11) | aa)2.87(8.54) | (38.90)9.79(29.11) | (61.26)15.42(45.84) |
| 10 Total Comprehensive income/(loss) for the period (8+9)11 Paid up equity share capital (Face value of Rs.1/- each)12 Other equity (excluding Revaluation reserve as per the audited balance sheet)[Earning/(Loss) per share (in Rs.) (fice value of Rs. 1each) (not annualised for the | 2,453.933,983.25, | 1,943.853,983.25 | 913.993,983.25, | 4,397.78,3,983.25, | (280.96)3,983.25 | 7,625.973,983.2554,888.42 |
| [quarter/half year ended )BasicDiluted | 0.620.62 | 0.490.49 | 0.240.24 | uuran | (0.06)(0.06) | 1.931.93 |
| Notes:'The above standalone financial results of Jamna Auto Industries Limited (the Company'), have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on November 10, 20211The statutory auditors of the Company have conducted limited review of these unaudited standalone financial results pursuant to regulation 33 of SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015. The auditors | ||||||
| have expressed an unqualified conclusion in the limited review report.'These unaudited standalone financial results have been prepared in accordance with the Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" as prescribed under Section 133 of the Companies Act, 2013 read withRule 3 of Companies (Indian Accounting Standards) Rules, 2015 and relevant amendments thereafter.'The Board of Directors at their meeting held on November 10, 2021 declared Interim dividend of Rs 0.50 (50%) per equity share of Rs 1 each of the Company.During the previous quarter, Jai Suspension Systems LLP (hereinafter referred to as "LLP"), in which Company is majority partner with 99,9985% share, has been converted into a private limited company namely "Jai Suspension |
In line with the provisions of IND AS-108 - Operating the Company is in the business of ing of i ion which i Parabolic/ Tapered leaf spring and Lift axle which constitute single reporting business segment, no segment disclosures are required.
'The above financial results shall be available on the Company's website (www jaispring.com) and also on the website of NSE (www.nseindia.com) and BSE (www.bseindia.com). 'The Code on Social Security 2020 ('Code'), which received the presidential assent on September 28, 2020, subsumes nine law relating to social security, retirement and employee benefits, including the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and the Payment of Gratuity Act, 1972. The effective date of the Code is yet to be notified and related rules are yet to be framed. The impact of changes, if any, will be assessed and recognised post notification of relevant provisions.
JAMNA AUTO INDUSTRIES LIMITED Regd Office: Jai Spring Road, Yamuna Nagar, Haryana -135001
8. STATEMENT OF UNAUDITED STANDALONE ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2021
| JAMNA AUTO INDUSTRIES LIMITEDRegd Office: Jai Spring Road, Yamuna Nagar, Haryana -135001"~ermanigaaaste ="8. STATEMENT OF UNAUDITED STANDALONE ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2021(Rs. in Lakhs)Un-AuditedParticularsAudited30.09.202131.03.2021A [AssetsNon-current assets128,328.39Property, plant and equipment27,107.393,186.143,316.74Right to useCapital work in progress10,803.03.12,798.41140.47183.14Intangible assetsInvestment in subsidiaries7,431.984,886.58Financial assetsInvestments47.2947,29Loans1,651.35:Other financial assets362.28684.53Non current tax assets (net)158.08178.54Other non-current assets1,495.751,352.06695.25Deferred tax assets (net)494.45Sub-total-Non-current assets (A)52,648.6652,700.48Current assets2Inventories23,257.6519,345.38Contract Assets1,946.141,842.65Financial AssetsLoans181.20129.06Trade receivables8,021.537,601.123,644.47Cash and cash equivalents3,513.942,303.91Other bank balances270.96Other financial assets752.36824.95Other current assets1,119.691,237.12Sub-total-Current assets (B)41,226.9534,765.18Total Assets (A+B)93,875.6187,465.66Equity and liabilitiesBEquity13,983.25Equity share capital3,983.2557,419.9354,888.42Other equity61,403.18Total equity (A)58,871.67LiabilitiesNon-current liabilities2Financial liabilities568.11Lease liabilities600.06Other financial liabilities152.24142.69Long term provisions1,911.811,768.96Deferred government grants1,404.781,411.783,923.494,036.94Sub-total-Non-current liabilities (B)Current liabilities3Contract liabilities1,045.861,833.09Financial liabilitiesLease liabilities127.57155.12Trade payables99.71-Total outstanding due of micro and small enterprises152.0920,584.08-Total outstanding due of other creditors other than micro17,326.21and small enterprises3,103.211,393.95Other financial liabilities141.3498.89Deferred government grants2,702.562,244.78Short term provisions1,423.92673.61Other current liabilities28,435.4924,670.50Sub-total-current liabilities (C)87,465.66Total-Equity and Liabilities (A+B+C)93,875.61 | ||
|---|---|---|
JAMNA AUTO INDUSTRIES LIMITED Regd Office: Jai Spring Road, Yamuna Nagar, Haryana -135001
| JAMNA AUTO INDUSTRIES LIMITEDRegd Office: Jai Spring Road, Yamuna Nagar, Haryana -135001 | ||
|---|---|---|
| 9, UNAUDITED STANDALONE CASH FLOW STATEMENT FOR THE HALF YEAR ENDED SEPTEMBER 30, 2021 | 'waremaigaearts" | |
| (Rs. in Lakhs) | ||
| Particulars | Half year endedSept 30, 2021 | Half year endedSept_30, 2020 |
| A. Cash flow from operating activities | ||
| Profit/(loss) before tax | 5,925.94 | (253.77) |
| Adjustments to reconcile profit before tax to net cash flows:Depreciation and amortization expenses | 1,665.59 | 1,524.30 |
| (Gain) on sale of property, plant and equipment | (2.78) | (2.93) |
| Finance costFinance income | 244.00(163.52) | 315.02(75.73) |
| Provision no longer required written back | (143.23) | (371.99) |
| Government grant and export incentive income recognisedProvision for government grant recoverable | (49.45)45.04 | (109.53)- |
| Provision for contingency | 39.28 | - |
| Employee stock option expensesUnrealised foreign exchange loss/(gain) (net) | 125.474.63 | -(182.09) |
| Share in profit of limited liability partnership | (117.44) | 31.77, |
| Operating profit before working capital changes | 1,573.52 | 811.51 |
| Changes in operating assets and liabilities: | 1,768.72 | |
| Increase in trade payable and other current liabilitiesIncrease in provision (Non current & current) | 510.41 | 10,481.79314.15 |
| Decrease/ (Increase) in trade receivables(Increase) in inventories | (420.81)(3,912.27) | 4,304.47(2,348.65) |
| (Increase) in loans (Non current & current) | (52.14) | (34.70) |
| Increase / (decrease) in financial liabilities (Non current & current)Decrease in other assets & other financial assets | 9.5567.13, | (6.84)188.05, |
| Cash generated from operations | 5,544.12 | 13,709.78 |
| Income tax paid (net of refunds)Net cash from operating activities | (1,697.113,847.01 | (AT4.17,13,235.61 |
| B. Cash flow from investing activitiesPayment for property, plant and equipment (including initial costs for ROU) | (1,082.32) | (358.62) |
| Proceeds from sale of property, plant and equipmentInvestment in fixed deposits less than 3 months | 2.95(1,042.69) | 6.79(8.71) |
| Repayment of loan from subsidiary | 1,651.35 | ~ |
| Tnvestment in subsidiariesInterest received (finance income) | (2,427.95)452.06 | -16.17 |
| Net cash used in investing activities | (2,446.59) | (344.37) |
| C. Cash flow from financing activities | ||
| Dividend paid and deposit to investor education & protection fundPayment of principal portion of lease liabilities | (1,991.63)(34.25) | *(80.08) |
| Repayment of long term borrowings | - | (2,679.46) |
| (Repayment of) short term borrowings (net)Interest paid | z(244.00) | (7,561.95)(348.86) |
| Net cash used in financing activities | (2,269.88) | (10,670.35) |
| Net increase / (decrease) increase inand cash | ||
| cashequivalents (A+B+C) | (869.47) | 2,220.88 |
| Cash and cash equivalents at the beginning of the period | 3,513.94 | 62.37 |
| a | ||
| Cash and cash equivalents at the end of the period | 2,644.47 | 2,283.25 |
| Components of cash and cash equivalents: | ||
| Cash in hand | 10.55 | 13.23 |
| Balances with scheduled banks |
The above cash flow statement has been prepared under the " Indirect Method" as set out in Indian Accounting Standard-7 , "Statement of cash flow"
For and on behalf of the Board Jamna Auto Industries Limited
Date: November 16, 2021
(RS. Jauhar) Chairman & Executive Director
S.R. BATLIBOI & Co. LLP Coll Mew Sorporate Tower" Chartered Accountants Gurugram - 122 002, Haryana, India
2nd & 3rd Floor Tel: +91 124 681 6000
Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
Review Report to The Board of Directors Jamna Auto Industries Limited
-
- We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Jamna Auto Industries Limited (the "Holding Company"') and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), for the quarter ended September 30, 2021 and year to date from April 01, 2021 to September 30, 2021 (the "Statement'') attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations').
- This Statement, which 1s the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
- We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the Circular No. CIR/CFD/CMD 1/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
| S.No. | Name of the Entity | Nature |
|---|---|---|
| 1. | Jamna Auto Industries Limited | Holding Company |
| 2. | Jai Suspension System Private Limited | Subsidiary (w.e.f. May 28, 2021) |
| Jai Suspension System LLP3, | Subsidiary (upto May 27, 2021 and converted into | |
| Jai Suspension System Private Limited w.e.f May | ||
| 28, 2021) | ||
| 4. | Jai Suspension Limited | Subsidiary |
| 5. | Jai Automotive Components Limited | Subsidiary |
The Statement includes the results of the following entities:
Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review of other auditors referred to 1n paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it 1s to be disclosed, or that 1t contains any material misstatement.
S.R. BATLIBOI& Co. LLP Chartered Accountants
- The accompanying Statement includes the unaudited mterim financial results and other unaudited financial information in respect of three subsidiaries, whose unaudited interim financial results and other financial information reflect total assets 12,584.04 lakhs as at September 30, 2021, total revenues of Rs. 5,151.23 lakhs and Rs. 8,061.36 lakhs, total net profit after tax of Rs. 187.29 lakhs and Rs. 262.34 lakhs and total comprehensive income of Rs. 190.06 lakhs and Rs 258.78 lakhs for the quarter ended September 30, 2021 and the period from April 01, 2021 to September 30, 2021 respectively and net cash inflow of Rs. 1,898.48 lakhs for the period from April 01, 2021 to September 30, 2021. These interim financial results have been reviewed by their respective independent auditors, whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries, is based solely on the report of other auditors and procedures performed by us as stated in paragraph 3 above.
Our conclusion on the Statement 1s not modified with respect to our reliance on the work done and the reports of the other auditors and the financial results and other financial information certified by the Management.
For S.R. BATLIBOI & Co. LLP Chartered Accountants ICAI Firm registration number: 301003E/E300005
Digitally signed by PANKAJ CHADHA DN: cn=PANKAJ CHADHA, c=IN, o=Personal, email=[email protected] C H A D H A Reason: | am approving this document Date: 2021.11.10 15:27:13 +05'30'
per Pankaj Chadha Partner Membership No.: 091813 UDIN: 21091813 AAAAEG7821 Place: Gurugram Date: November 10, 2021
JAMNA AUTO INDUSTRIES LIMITED Regd Office: Jai Spring Road, Yamuna Nagar, Haryana -135001
STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2021
| JAMNA AUTO INDUSTRIES LIMITED | ||||||
|---|---|---|---|---|---|---|
| Regd Office: Jai Spring Road, Yamuna Nagar, Haryana -135001 | ||||||
| STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER | AND HALF YEAR ENDED SEPTEMBER 30, 2021 | |||||
| ParticularsSi. | Quarter ended | Half year ended | (Rs, in Lakhs)Year ended | |||
| No. | (Unaudited)30.09.2021 | (Unaudited)30.06.2021 | (Unaudited)30.09.2020 | (Unaudited) (Unaudited)30.09.2021 | 30.09.2020 | (Audited)31.03.2021 |
| Income from operations1a/Revenue from operationsbJOther incomeTotal revenue | 35,189.76218.4735,408.23, | 29,533.2446.2529,579.49 | 18,656.83]ATLAS19,129.32 | 64,723.00264.7264,987.72 | 25181.52551,5225,733.04 | 1,07,947.84992.961,08,940.80 |
| Expenses2a Cost of raw materials and components consumedb]Purchase of traded goodsc Changes in inventories of finished goods, work in progress and traded goodsd/ Employee benefit expenses | 21,190.57277.69690.893,051.92 | 22,178.01145.31(3,763.60)2,927.99 | 12,014.79)123.30)(1,199.52)2,426.85 | 43,368.58423.00(3,072.71) 5,979.91 | 15,466.11.123.30)(1,060.59)4,490.10) | 69,352.31633.1211,176.11 |
| ¢ Other expensesTotal expenses Profit/(Loss) before finance costs, depreciation/amortization expense and tax (1-2)3 | 5,536.4030,747.474,660.76 | 4,517.63 26,005.343,574.15 | 3,629.26]16,994.682,134.64 | 10,054.0356,752.818,234.91 | 5,221.28 24,240.201,492.84 | 17,720.5294,701.5214,239.28 |
| 4 {Finance costsa Finance costs | 62.98 | 100.44 | 123.38 | 163.42 | 329.02 | 611.98 |
| b Finance incomeNet finance costs (a-b){Depreciation and amortization expenses5 Profit/(Loss) before tax (3-4-5)6 Tax expenses7 | 1.7061.28913.943,685.54 | 22.1078.34828.342,667.47 | 6.54116.84818.55)1,199.25 | 23.80139,621,742.286,353.01 | 10.72318,301,601.21(426.67) | 18.97593,013,558.0910,088.18 |
| Current taxb Deferred tax charge/ (credit)'Total tax expense (atb) | 1,025.20(46.56)978.64 | 922.98(204.77),718.21 | 52.89334.38]387.27 | 1,948.18(251.33)1,696.85 | 52.89(20.28)32.61 | (4,180.54)3,144.65(352.76)2,791.89 |
| Profit/(Loss) for the period (6-7)8 Other Comprehensive Income/(Loss)9Other comprehensive income/(loss) not to be reclassified to profit or loss in subsequentperiods | 2,706.90 | 1,949.26 | 811.98 | 4,656.16 | (459,28) | 7,296.29 |
| ~ Re-measurement gain/(loss) on defined benefit plans'- Deferred tax impact on aboveOther comprehensive income/(loss) for the period, net of tax | (18.36)6.27(12.09) | 2-* | (38.23) 9.79)(28.44) | (18.36)6.27(12.09) | (38.23)9.79(28.44) | (44.16) 7.64(36.52) |
| 10 Total Comprehensive income/(loss) for the period (8+9)11 Profit/(Loss) for the period attributable toEquity holders of the parent | 2,694.812,706.89 | 1,949.261,949.25, | 783.54811.98 | 4,644.074,656.15 | (487.72)(459.29) | 9,259.777,296.28 |
| Non-controlling interests12 Other Comprehensive income/(loss) for the period attributable toEquity holders of the parentINon-controlling interests | 0.01(12.09)- | 0,01+- | -(28.44) | 0.01(12.09) * | 0.01(28.44)* | 0.01(36.52) |
| 13 Total Comprehensive income/(loss) for the period attributable to (11+12)Equity holders of the parent'Non-controlling interests | 2,694.800.01 | 1,949.250.01 | 783.54- | 4,644.060.01 | (487.73)0.01 | 7,259.160.01 |
| 14 Paid up equity share capital (Face value of Rs.1/- each)15 Other Equity (excluding Revaluation reserve as per the audited balance sheet)16 Earning/(Loss) per share (in Rs.) (face value of Rs. 1/- each) (not annualised for quarter/half year ended) | 3,983.25,-0.68 | 3,983.25-0.49 | 3,983.25,- | 3,983.25- | 3,983.25- | 3,983.2554,017.41 |
Notes:
1 The above unaudited consolidated financial results of Jamna Auto Industries Limited ('the Holding Company') and its subsidiaries namely Jai Suspension Systems Private Limited w.e.f. May 28, 2021 ( erstwhile Jai Suspension Systems LLP upto May 27, 2021), Jai Suspensions Limited and Jai Automotive Components Limited (the Holding Company and its subsidiaries together referred to as "the Group") have been reviewed by the Audit Committee and approved by the Board of Directors of the Holding Company in their respective meetings held on November 10, 2021. The statutory auditors of the Holding Company have conducted limited review of these unaudited consolidated financial results pursuant to regulation 33 of SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015. The auditors have expressed an unqualified opinion in the limited review report.
2 These unaudited consolidated financial results have been prepared in accordance with the Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015 and relevant amendments thereafter. The said financial results of the Group have been prepared in accordance with Ind AS 110 "Consolidated Financial Statements".
- The Board of Directors of the Holding Company at their meeting held on November 10, 2021 declared Interim dividend of Rs 0.50 (30%) per equity share of Rs 1 each of the Holding Company.
4 In line with the provisions of IND AS-108 - Operating Segment, the Group is engaged in the business of manufacturing of Automotive suspension which includes Parabolic/ Tapered leaf spring and Lift axl which constitute single reporting business segment, no segment disclosures are required.
5 The Code on Social Security 2020 ('Code'), which received the presidential assent on September 28, 2020, subsumes nine law relating to social security, retirement and employee benefits, including the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and the Payment of Gratuity Act, 1972. The effective date of the Code is yet to be notified and related rules are yet to be framed. The impact of changes, if any, will be assessed and recognised post notification of relevant provisions.
6 The above financial results shall be available on the Company's website (www.jaispring.com) and also on the website of NSE (www.nseindia.com) and BSE (www.bseindia.com).
JAMNA AUTO INDUSTRIES LIMITED Regd Office: Jai Spring Road, Yamuna Nagar, Haryana -135001 "SA
7. STATEMENT OF UNAUDITED CONSOLIDATED ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2021
| JAMNA AUTO INDUSTRIES LIMITED | |||
|---|---|---|---|
| Regd Office: Jai Spring Road, Yamuna Nagar, Haryana -1350017. STATEMENT OF UNAUDITED CONSOLIDATED ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2021 | "SAermeieeera=" | ||
| Particulars | Un-Audited | (Rs. in Lakhs)Audited | |
| A AssetsNon-current assets | 30.09.2021 | 31.03.2021 | |
| 1 | Property, plant and equipmentRight to useCapital work in progressOther Intangible assets | 29,645.777,376.8311,923.50140.42 | 28,469.156,454.7913,375.58168.13 |
| Financial assetsInvestmentsOther financial assetsNon current tax assets (net)Other non-current assets | 47,29433.27226.912,312.91 | 47.29367.06230.362,160.95 | |
| Deferred tax assets (net)Sub-total-Non-current assets (A) | 827.3852,934.28 | 635.5251,908.83 | |
| 2 | Current assetsInventoriesContract AssetsFinancial Assets | 24,603.722,235.77 | 20,955.942,046.53 |
| LoansTrade receivablesCash and cash equivalentsOther bank balances | 189.644,438.135,831.122,306.07 | 1,331.355,581.563,802.11315.81 | |
| Other financial assetsCurrent tax assets (net)Other current assetsSub-total-Current assets (B) | 746.76-1,236.8941,588.10 | 857.46-1,484.5036,375.26 | |
| Total Assets | 94,522.38 | 88,284.09 | |
| B1 | Equity and liabilitiesEquityEquity share capitalOther equity | 3,983.2556,721.91 | 3,983.2554,017.41 |
| Equity attributable to equity holders of the Parent CompanyNon-controlling interestTotal equity (A) | 60,705.160.1460,705.30 | 58,000.660.1458,000.80 | |
| 2 | LiabilitiesNon-current liabilitiesFinancial liabilities | ||
| Lease liabilitiesOther financial liabilitiesLong term provisionsDeferred government grants | 961.04157.672,022.461,404.78 | 907.36148.121,861.331,411.78 | |
| 3 | Sub-total-Non-current liabilities (B)Current liabilitiesContract liabilities | 4,545.95,1,046.16 | 4,328.591,836.61 |
| Financial liabilitiesLease LiabilityTrade payables | 145.54 | 171.35 | |
| -Total outstanding due of micro and small enterprises-Total outstanding due of other creditors other than microand small enterprises | 417.9920,721.36 | 470.3718,002.38 | |
| Other financial liabilitiesDeferred government grantsShort term provisions | 3,115.7498.892,984.70 | 1,396.36141.342,429.84 | |
| Other current liabilitiesSub-total-current liabilities (C) | 740.7529,271.13 | 1,506.4525,954.70 | |
| Total-Equity and Liabilities (A+B+C) | 94,522.38 | 88,284.09 |
JAMNA AUTO INDUSTRIES LIMITED
| JAMNA AUTO INDUSTRIES LIMITEDRegd Office: Jai Spring Road, Yamuna Nagar, Haryana -135001 | ||
|---|---|---|
| 8. UNAUDITED CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED SEPTEMBER 39, 2021 | Swonempaaiae" | |
| Half year ended | (Rs. in Lakhs)Half year ended | |
| Particulars'A. Cash flow from operating activities | Sept 30,2021 | Sept 30, 2020 |
| Profit/(loss) before tax | 6,353.01 | (426.67) |
| Adjustments to reconcile profit before tax to net cash flows: | ||
| Depreciation and amortization expenses(Gain) on sale of property, plant and equipment | 1,742.10(2.82) | 1,601.21(2.93) |
| Finance costFinance income | 260.10(120.48) | 329.02(10.72) |
| Excess provision no longer required written backImpairment allowance for trade receivables and advances considered doubtful | (143.24)(1.14) | (379.54)0.33 |
| Government grant and export incentive income recognisedProvision for government grant recoverable | (49.45)45.04 | (109.53)« |
| Provision for contingenciesEmployee stock option expenses | 39.28 | - |
| 125.47 | = | |
| Unrealised foreign exchange loss/(gain) (net)Operating profit before working capital changes | 4.638,252.50 | 183.14)818.03 |
| 'Changes in operating assets and liabilities: | ||
| Increase in trade payable and other current liabilitiesIncrease in provision (Non current & current) | 1,212.08619.05 | 10,757.04329,34 |
| Decrease in trade receivables(Increase) in inventories | 1,143.03(3,647.78) | 5,198.80(2,644.46) |
| Increase / (decrease) in loansIncrease / (decrease) in other financial liabilities | 1,141.719.55 | (35.58)(6.84) |
| (Increase) / decrease in other assets & other financial assetsCash generated from operations | (33.56)8,696.58 | 367.6414,783.97 |
| Direct taxes paid (net)Net cash flow from /(ased in) operating activities | (4,948.15)6,751.43 | (487.65)14,296.32 |
| B. Cash flow from investing activitiesPurchase for property, plant and equipment (including initial costs for ROU) | (2,544.03) | (355.39) |
| Proceeds from sale of property, plant and equipmentInvestment in fixed deposits less than 3 months | 2.64(1,000.00) | 13.74(8.70) |
| Interest received (finance income)Net cash used in investing activities | 123,64(3,417.75) | 11.66(338.69) |
| C. Cash flow from financing activities | ||
| Dividend paid and deposit to investor education & protection fundPayment of principal portion of lease liabilities | (1,991.63)(52.94) | -(80.13) |
| Repayment of long term borrowings(Repayment of) short term borrowings (net) | é- | (2,679.46)(8,607.19) |
| Interest paidNet cash (used in) financing activities | (260.10)(2,304.67) | 351.21(11,717.99) |
| Net increase / (decrease) in cash and cash equivalents (A+B+C) | 1,029.01 | 2,239.64 |
| Cash and cash equivalents at the beginning of the period | 3,802.11 | 71.33 |
| 'Cash and cash equivalents at the end of the period | 4,831.12 | 2,310.97 |
| Components of cash and cash equivalents:Cash in handBalances with scheduled banks | 10.77 | 13.42 |
'The above cash flow statement has been prepared under the " Indirect Method" as set out in Indian Accounting Standard-7 , "Statement of cash flow".
For and on behalf of the Board Jamna Auto Industries Limited
a
(RS. Jauhar) Chairman & Executive Director DIN- 00746186
Date: November 10, 2021 Place: Yamuna Nagar
Jamna Auto Industries Ltd.
Jamna Auto Industries Limited Press Release Q2 FY22 Results
Highlights for the Q2FY22:
- Net Sales : INR 352 Crores (Up 19% QoQ, Up 89% YoY)
- EBIDTA : INR 47 Crores (Up 30% QoQ, Up 118% YoY)
- PBT : INR 37 Crores (Up 38% QoQ, Up 207% YoY)
- PAT : INR 27 Crores (Up 39% QoQ, Up 233% YoY)
EBIDTA Margins up by 114 bps QoQ, Up 180 bps YoY PBT Margins up by 144 bps QoQ, Up 405 bps YoY
Highlights for the 6M FY22
| • | Net Sales : INR 647Crores | (Up 157% YoY) |
|---|---|---|
| • | EBIDTA : INR 82Crores | (Up 452% YoY) |
| • | PBT : INR 64Crores | (Not Comparable due to loss in corresponding 6 Months) |
| • | PAT : INR 47Crores | (Not Comparable due to loss in corresponding 6 Months) |
EBIDTA Margins up by 679 bps PBT Margins up by 1151 bps
Debt Position: The Company has maintained its debt free position as on 30th September 2021. Cash Position: Surplus INR 58.31 Crore Net Debt Position: INR (58.31) Crore
Jamna Auto Industries Ltd.
• Sales - Product Mix:
| Q2FY22 | 6M'22 | FY'21 | |
|---|---|---|---|
| Conventional Springs | 60% | 61% | 66% |
| New Products | 40% | 39% | 34% |
| Total | 100% | 100% | 100% |
• Sales - Market Mix:
| Q2FY22 | 6M'22 | FY'21 | |
|---|---|---|---|
| OEM | 77% | 77% | 71% |
| New Markets | 23% | 23% | 29% |
| Total | 100% | 100% | 100% |
Commentary:-
M&HCV production in Q2 FY'22 clocked 57,220 units against 28,810 units in Q2 FY'21 (YoY) and 41,658 units in Q1 FY'22 (QoQ) (source: SIAM data).
Other Communication: The Board has declared an interim dividend of Rs.0.50 (fifty paisa) per equity share (around 43% pay-out on 6 months period) for the financial year 2021-22.
Cautionary Statements: Statements in this Press Release describing the company's objections, projections, estimates, expectations or predictions may be forward looking statements within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the company's operations include demand supply conditions, raw material and other input prices, cyclical demands and pricing in the markets, change in government regulations, tax regimes, economic development/conditions in the country and other factors such as litigation and labor negotiations.
The company assumes no responsibility to publicly amend, modify or revise any forward looking statement on the basis of any subsequent development, information or events or otherwise.
About Jamna Auto Industries Ltd (BSE code: 520051) (NSE code: JAMNAAUTO)
Jamna Auto Industries is India's market leader in automotive suspension solutions. The manufacturing facilities are located at Yamuna Nagar (Haryana), Chennai (Tamil Nadu), Hosur (Tamil Nadu), Pillaipakkam (Tamil Nadu), Malanpur (Madhya Pradesh), Pune (Maharashtra) and Jamshedpur (Jharkhand) and a plant at Pant Nagar (Uttarakhand) of Jai Suspension Systems Private Limited, a subsidiary of the Company.
For Further Information please contact: Mr. Shakti Goyal CFO Email: [email protected] Jamna Auto Industries Limited