Jamna Auto industries Ltd - 520051

Name of Company	Jamna Auto industries Ltd
BSE Code	520051
NSE Code
ICICI Code
Established
My Take	Dislike
Headquarters	New Delhi/Yamuna Nagar, Haryana
Promoters	Bhupinder Singh Jauhar
Story	Largest manufacturer of tapered leaf and parabolic springs for CVs in India according to the website. Has 4 manufacturing units in Yamuna nagar, Malanpur (near Gwalior), Chennai and Jamshedpur(likely to be operational by Sep 2010). Jai suspension systems ltd is a wholly owned subsidiary.
Sector	Auto anciliary
Sub-sector	Tapered leaf and parabolic springs manufacturing
Website	http://www.jaispring.org/
Positives	Revenues have been rising steadily. NHK Springs (Japan) hold 6% shareholding and are a technological partner of Jamna.
Negatives	500 Cr market cap for a net FY10 profit of 10 Cr is too high a price to pay. FY09 was a loss making year for this company. Wavering NPM's with 2%, 4%, etc makes this a low profit company. Promoters have pledged 95% of their shares – they hold 45% and 42% is pledged. No dividends. No real MF holding. Rising debt at 115 Cr in FY10.
Peers
News
Price @ blogged	131 (9-Aug-10)