Jamna Auto Industries Ltd. - AceAnalyseraceanalyser.com/Analyst Meet/120051_20100708....
Transcript of Jamna Auto Industries Ltd. - AceAnalyseraceanalyser.com/Analyst Meet/120051_20100708....
Jamna Auto Industries Ltd.Jamna Auto Industries Ltd.
Jamna AutoJamna Auto
Leaf Springs- A leaf spring is a beam of cantilever design to absorb deflection under load. Mostly used in passenger and commercial vehicles as part of the suspension that connects the vehicle’s wheel base & chassis – high criticality in terms of safety of the vehicle
Parabolic Springs- a modified version of leaf springs which has better load carrying capacity with reduced weight Have twice the operating margins as leaf springs
JAI - one of few manufacturers in India having sizeable parabolic springs facilities
CONVENTIONAL
TRAILER SPRING
EYE MOUNTED SPRING
PROGRESSIVE SPRING
Current Products
TRAILER SPRING
PARABOLIC SPRING
Critical part of a vehicle that has a direct impact on safety and load bearing, the 2 essential requirements of commercial vehicles – hence, JAI
has direct relationships with its customers and is a key part of the customers’ product development process
Jamna AutoJamna Auto
Today
Locations
Main Plants�Yamuna Nagar�Malanpur�Chennai
Products
�Leaf Spring�Light Parabolic
Markets
�OE India�AM India
�Chennai�JamshedpurAssembly Plants�Uttranchal
2 Products2 Products 2 Markets2 Markets5 Cities5 Cities
Soni Auto,
4%
Vikrant, 3%
Friends,
12%
Others, 4%
Indian OEM Market Global leaf market: Scale
Manufacturing capacities steadily moving from N America and Europe into low-cost Asia
1980s MT
Markets Positioning
# Leaf Spring Manufacturer Base Country Production
1 NHK Spring Co. Ltd Japan 200,000
2 DELPHI USA 100,000
3 Eaton/Oxford Canada 10,000
4 Krupp Germany 40,000
5 Hendrickson USA 40,000
6 DSP USA 40,000
7 Rejna Europe 40,000
8 Hoesch Germany 30,000
Toyo, 13%
12%
Jamna Auto,
64%
Undisputed market leader in India and 4th
largest player globally – one of the few Indian players with such world scale
Current MT
# Leaf Spring Manufacturer Base Country Capacity
1 Rassini Mexico 250,000
2 Hendrickson Canada & Mexico 180,000
3 NHK Spring Co. Ltd Japan & Thiland 150,000
4 Jamna Auto Indus. Ltd India 144,000
5 Ventanna Europe 110,000
6 Dong Feng China 105,000
7 FAW China 100,000
8 MBHA Spain 36,000
9 Olgin Turkey 28,000
10 LPDN Europe 24,000
8 Hoesch Germany 30,000
9 Sarfedern Germany 20,000
10 Johns Woodhead UK 10,000
Jamna AutoJamna Auto
Medium Term
JAI Growth Plan
Short Term
Term
Jamna AutoJamna AutoShort Term
1. Production 11500 Mts
15000 Mts
2. Light Parabolic 600 Mts
750 Mts
900 Mts
3. Heavy Parabolic 350 Mts3. Heavy Parabolic
a) Steel Saving
b) Finance Cost Reduction
c) Jamshedpur Freight Saving
d) Jamshedpur Plant Starting
4. Others Value Adds
Jamna AutoJamna Auto
Jamna Jamna Business Business Jamna Jamna
Business Business Business Business ModelModel
Business Business ModelModel
Jamna AutoJamna Auto Medium Term
1 Markets
� OE India- SOB*� After Market India� After Market Export
OE Export�
� OE Export
* Share of Business
Jamna AutoJamna Auto Medium Term
Products2
� Heavy Parabolic/Z Spring� Suspension/Lift Axels� U Bolt� U Bolt� Stabilizer Bar
* Share of Business
Jamna AutoJamna Auto Medium Term
3 Locations
Main Plants� Malanpur- Unit 2� Chennai- Unit 2
* Share of Business
� Chennai- Unit 2� PuneAssembly Plants� Adityapur� Indore� Hosur� Lucknow
Jamna AutoJamna AutoJAI’s Expanding Horizons
�OE India�AM India �AM Export�OE Export
Locations Products Markets
�Yamuna Nagar�Malanpur-2 Units�Chennai-2 units�Jamshedpur�Pune
�Uttranchal*
�Leaf Spring/Light Parabolic�Heavy Parabolic/Z Spring�Air Suspension�Lift Axle�U Bolt�Stabilizer Bar
�Trucks�Buses�Trailers
8 Products8 Products 4 Markets4 Markets8 Cities8 Cities
* Assembly Plant
� Largest Leaf Spring Capacity in the World by Oct 2011 � Largest Parabolic Spring Capacity in the World by Oct 2012
�Uttranchal*�Hosur*�Lucknow*�Adityapur*�Indore*
Jamna AutoJamna AutoAdding New Markets
Jai Market Share in Indian OE goes up 66% to 75%
JAI Total OE Sales go down from existing 91 % to 70% in next three year because of market diversification.
1.
2.
•Capacity•Technology•Logistics
�OE Export�After Market Export�After Market India
Would contribute 30 % of Jai Sales
Diversifying our Market by adding New Markets
JAI Today Sales JAI Future Sales Plan
OE India 91%Others 9% OE India 70%Others 30%
�After Market India
Jamna AutoJamna Auto
�Our Business will be understood in terms of:-
� PRODUCTS� MARKETS� LOCATIONS
�Our Company will Aspire to be Known as :-
� World Largest Leaf Spring Supplier
Jai Business Model
� World Largest Leaf Spring Supplier
� World Largest Parabolic Spring Supplier
� Producer of High Stress Spring
� Producer of all suspension related parts
� Engineering with WCM testing facility
� Supplier for all markets
8 Products8 Products 4 Markets4 Markets8 Cities8 Cities
Yamuna Nagar
Uttranchal
Lucknow
Jamshedpur
GwaliorLCVs MVsCVs
1.TATA
1.Logistics
2. Capacities
3.Cost
LogisticsParabolic
4.Technology
E Coat
5. Products
Range
6. De risking-Strength
Advantage
Exis
tin
g
Ind
ian
OE
Jai Logistics Presence Jai Customer Base
1.Gwalior
2.Chennai
3.Yamuna Nagar
4.Uttranchal
5.Jammshedpur
6.Pune
7.Lucknow
8.Hosur
Jamshedpur
Pune
Chennai
1.TATA
2.Leyland
3.Eicher
1. VOLVO- Chennai2. Force Man3. TACO4. AMW
1.SML
2.FML
1.Maruti
2.Ford
Exis
tin
g
Ind
ian
OE
Exis
tin
g
Inte
rnati
on
al
OE
1. NAVISTAR-Chennai2. DAIMLER-Chennai
3. HINO4. MBI
1. NISSAN 1. M&M (New for Jai)
New
Inte
rnati
on
al
OE
Hosur
2
Offices
22
Depots
878
Dealers
33
Field Person Locations
Jai Logistics Presence
15
Heavy Parabolic Spring -2515After Market Network used for educating customers about Parabolic spring advantage by conduction seminars and meetings
Tata Ashok Eicher Volvo Mazda Mann Navistar Daimler Force M&M After Exports Exports
Leyland Market A. Market OE
Leaf Springs Y Y Y Y Y Y Y Y Y N Y Y N
Parabolic Y Y N N N Y N N Y N Y Y N
Air Suspension N N N N N N N N N N N N N
Lift Axle N N N N N N N N N N N N N
U Bolts N N N N N N N N N N N N N
Stablizer Bars N N N N N N N N N N N N N
Tata Ashok Eicher Volvo Mazda Mann Navistar Daimler Force M&M After Exports Exports
Present
Future
JAI ”Total Suspension Solution Provider”
16
Tata Ashok Eicher Volvo Mazda Mann Navistar Daimler Force M&M After Exports Exports
Leyland Market R. Market OE
Leaf Springs Y Y Y Y Y Y Y Y Y Y Y Y Y
Parabolic Y Y Y Y Y Y Y Y Y Y Y Y Y
Air Suspension Y Y Y Y Y Y Y Y Y Y Y Y Y
Lift Axle Y Y Y Y Y Y Y Y Y Y Y Y Y
U Bolts Y Y Y Y Y Y Y Y Y Y Y Y Y
Stablizer Bars Y Y Y Y Y Y Y Y Y Y Y Y Y
Companies/P
roductsRassini
Hendricks
onNHK Styria Rejna Uzel Ridewell SAF ZF JAI
Leaf Spring � � � � � � ���� ���� ���� ����Parabolic
Spring � � � � � � ���� ���� ���� ����
JAI ”Total Suspension Solution Provider”
17
Spring � � � � � � ���� ���� ���� ����Air
Suspension ���� � ���� ���� ���� ���� � � � ����U Bolts � ���� ���� � ���� ���� ���� ���� ���� ����
Stablizer Bars ���� ���� ���� � � � ���� ���� ���� ����
Rs MN
FY 2006 FY 2007 FY 2008 FY 2009 FY 2010
Gross Revenues 3,358 4,272 5,891 5,206 6,616
Net Revenues 2,928 3,689 5,712 4,673 6,159
EBITDA 278 403 588 374 797
Cash Profits 70 192 316 19 537
PAT (10) 56 201 (126) 191
JAI Financials
Company’s Aim:- Net Worth = Net Block by March 2012Company’s Aim:- Net Worth = Net Block by March 2012
PAT (10) 56 201 (126) 191
EPS N.A 2.4 7.0 (3.6) 5.3
Total Debt* (Net of Cash) 1,745 1,874 1,735 1,472 1,023
Nos of shares outstanding 13.50 23.70 34.03 36.53 36.54
Networth 345 243 803 555 715
Jamna AutoJamna Auto
Highlights H1 FY 2011
1. Volume Growth 50 %
2. Total Debt* (Net of Cash) Down to Rs. 611 Mn from Rs. 1023 Mn.
3. Equity Infusion Through Private Placement – Rs. 250 Mn
4. Equity Shares after infusion :- 39.17 Mn
Jamna AutoJamna Auto
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