JAY BHARAT MARUTI = Q2 FY 2011 RESULTS = EXCELLENT PERFORMANCE

Jay Bharat Maruti Limited

NSE Symbol  JAYBARMARU

Jay Bharat Maruti  has turned in a  superb performance in Q2 FY 2011 in line with the Auto Industry performances.

Net Sales/Income from Operations has increased to Rs.260.77 cr – an improvement of 16% over previous qtr and 39.26% over the corresponding qtr (of last year).

Net Profit   has registered an even smarter increase to Rs.10.30 Cr – an improvement of 86.76% over previous qtr and 133.17% over the corresponding Qtr.

Basic EPS  on Rs.5 Face value is Rs.4.76 for Q2 – compared to Rs.2.55 in previous qtr and Rs.2.04 in corresponding qtr.

At this rate, JBM can register an annual EPS of around 17 for current year.

Current MP is around Rs.82 – which works out to a PE multiple of just4.82.

Considering the fortunes of Auto Industry and specially of Maruti, the scrip appears to be good for medium to long term investment.

RESULTS IN FIGURES

JAY BH MARUTI	30-Sep-10	30-Jun-10	Dif%1	30-Sep-09	Dif%2
Net Sales	26076.67	22479.07	16	18725.65	39.26
Increase/decrease in SIT & WIP	-291.09	-389.8	-25.32	168.95	-272.29
Raw Materials	20910.37	18043.08	15.89	14726.12	42
Employees Cost	1337.97	1286.56	4	996.76	34.23
Depreciation	902.04	878.83	2.64	695.67	29.66
Other Expenditure	1473.76	1475.7	-0.13	1237.64	19.08
Total Expenditure	24333.05	21294.37	14.27	17825.14	36.51
Profit from Operations	1743.62	1184.7	47.18	900.51	93.63
Other Income	83.65	80.11	4.42	53.91	55.17
Interest	367.14	338.04	8.61	258.47	42.04
Profit before tax	1460.13	926.77	57.55	695.95	109.8
Tax expense	429.65	375	14.57	254	69.15
Net Profit after tax	1030.48	551.77	86.76	441.95	133.17
Net Profit	1030.48	551.77	86.76	441.95	133.17
Face Value.Rs	5	5	0	5	0
Paid Up Equity	1082.5	1082.5	0	1082.5	0
Basic EPS	4.76	2.55	86.67	2.04	133.33
Public Shareholding (%)	41.43	41.43	0	41.43	0

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