Detailed Analysis on Jullundur Motor Agency (Delhi) Ltd.

 



Market Cap : 228 Cr

Current Price (21-04-2024) : 99.60

Sector : Auto Ancillaries

NSE - BE : JMA

About :

Established in 1927, JMA Group is one of the largest companies in Automobile Spare parts distribution in INDIA. having a branch network of 88 branches, with a staff strength of 680 people, with a dealer network of 75000 dealers PAN India, covering almost all parts for all vehicles dealing in only in OE and premium quality brands. the Company is also engaged in the trading and distribution of petroleum products in India.

Financial Metrics :

(source : screener.in)

  • Market Cap : 228 Cr
  • Current Price : 99.60
  • High / Low : 141 / 62.20
  • Book Value : 92.60
  • EPS : 11.20
  • Promoter Holding : 51.00 %
  • Pledged Percentage : 0.00 %
  • P/E Ratio : 8.88 (Industry PE : 32.20)
  • PEG Ratio : 0.55
  • Operating Profit Margin : 5.64 %
  • Return on capital employed (ROCE) : 18.70 %
  • Return on equity (ROE) : 13.90 %
  • Return on assets (ROA) : 9.67 %
  • Sales Growth 5Yr : 9.03 %
  • Profit Growth 5Yr : 16.20 %
  • Dividend Last Year : 2.00
  • Dividend Yield : 2.01 %
  • Debt : 0.00 Cr
  • Debt to Equity : 0.00
  • Debtor Days FY23 : 60
  • Current Assets : 254 Cr
  • Current Liabilities : 73.40 Cr
  • Free Cash Flow : -1.96 Cr
  • Net Cash Flow : -1.78 Cr

Please refer to this article for detailed explanation on above mentioned financial metrics


Earnings :

(source : screener.in)

Quarterly


Yearly


Sales growth 
  • Over the last 5 years sales has grown at a yearly rate of  9 %
  • Over the last 3 years sales has grown at a yearly rate of  12%
Good net profit growth
  • Over the last 5 years net profit has grown at a yearly rate of  16 %
  • Over the last 3 years net profit has grown at a yearly rate of  24 %
Return on equity
  • ROE last year  14 %
  • Over the last 5 years ROE has grown at a yearly rate of  12 %
  • Over the last 3 years ROE has grown at a yearly rate of  14 %
Good return on capital employed
  • ROCE last year  18.70 %
  • Over the last 5 years ROCE has grown at a yearly rate of  16.60 %
  • Over the last 3 years ROCE has grown at a yearly rate of  18.60 %
Operating profit margin
  • Last Year OPM  6 %
  • 2022 OPM  7 %
  • 2021 OPM  7 %
Products :

Most of the company’s suppliers are original equipment manufacturers to vehicle manufacturers.
  • ABI-SHOWATECH (INDIA) PRIVATE LIMITED
ADBLUE BRAND-ABI DEISEL EXHAUST FLUID- UREA
  • AMALGAMATIONS REPCO LIMITED
REPCO BRAND- FLY WHEEL RING GEAR FOR ALL TYPES OF AUTOMOTIVE VEHICLES
  • BANCO GASKET (INDIA ) LIMITED
BANCO BRAND – ENGINE GASKET FULL SET, HALF SET, CYLINDER HEAD GASKET & SEAL KITS.
  • BANCO PRODUCTS (INDIA) LIMITED
BANCO BRAND – RADIATOR ASSY, SURGE TANK, CONDENSORES, EVAPORATOR, INTER COOLAR.
  • BIMETAL BEARINGS LIMITED
BIMETAL BRAND – ENGINE THIN VALVE BEARINGS, BUSHES & THRUST WASHERS
  • BRAKES INDIA PRIVATE LIMITED
TVS-GIRLING BRAND – BRAKE MASTER CYLINDERS, CLUTCH MASTER CYLINDERS, SLAVE CYLINDERS, WHEEL CYLINDERS, BRAKE PARTS & REPAIR KITS, BRAKE HOSES, BRAKE ASSY, BRAKE SHOE, BRAKE LINING, BRAKE DISC PADS, DISC ROTORS, BRAKE FLUID & RADIATOR COOLANT
  • C & C TECH MECHL'S
TURBO ENERGY CHARGER
  • CONTITECH INDIA PRIVATE LIMITED
CONTITECH BRAND – FAN BELTS, TIMING BELTS & TIMING BELT KITS AND OTHER PRODUCTS.
  • CARCREW TECHNOLOGY PRIVATE LIMITED
DELPHI BRAND – MODULAR RESERVOIR ASSY, HALFSHAFTS, CONDANSOR, FUEL PUMP MOTORS AND OTHER PRODUCTS.
  • GABRIEL INDIA LIMITED
GABRIEL BRAND – SHOCK ABSORBERS,STRUT DAMPERS, SUSPENSION KITS, WINDOW BALANCER/DICKEY SHOCKERS, DRIVE SHAFTS AND OTHER PRODUCTS
  • HARISON INDIA (REGD)
HARISON BRAND – GAS SPRING/ WINDOW BALANCER/DICKEY SHOCKERS
  • MAHLE ANAND FILTER SYSTEMS PRIVATE LIMITED
MAHLE BRAND – FUEL FILTERS, AIR FILTER, OIL FILTER, DEISEL FILTERS & RADIATOR COOLANT
  • P.R.POWER TOOLS INDIA PRIVATE LIMITED
USHA BRAND – COMPLETE SILENCERS, SILENSER PIPE, MUFFLERS, SPRING PIPES
  • RANE (MADRAS) LIMITED
RANE BRAND – STEERING SUSPENSION PARTS, SUSPENSION BALL JOINTS, LOWER & UPPER BALL JOINTS & CONTROL ARMS, TIE ROD ENDS, DRAGLINK ENDS, TIEROD ASSY & KITS, DRAGLINK ASSY & KITS, STEERING ASSY. STEERING RACK & PINION, STEERING PARTS.
  • RANE BRAKE LINING LIMITED
RANE BRAND – BRAKE LINING, BRAKE SHOE, DISC PADS, CLUCH FACINGS, CLUTCH BUTTON AND ALUMINIUM/BRASS RIVETS
  • RANE ENGINE VALVE LIMITED
RANE BRAND – ENGINE VALVES, VALVE TAPETS
  • RANE TRW STEERING SYSTEMS PRIVATE LIMITED
RANE TRW BRAND – POWER STEERING ASSY, PUMPS, SEAL KITS AND POWER STEERING & PUMP PARTS AND POWER STEERING FLUID
  • SCHAEFFLER INDIA LIMITED
LUK BRAND- TRANSMISION PRODUCTS, CLUTCH SETS, DRIVE PLATE, COVER ASSY, INA BRAND BEARING, FAGE BEARING, INA TIMING KITS, TRUPOWER LUBRICANTS
  • SUNDARAM INDUSTRIES PRIVATE LIMITED
TVS BRAND – RUBBER PARTS, ENGINE MOUNTING, CABINE MOUNTING, SUSPENSION BUSH KITS, OIL SEALS
  • Sundaram Fastener limited (HEX Division)
TVS BRAND- HIGHTENSILE SCREW, BOLTS & NUTS, WHEEL HUB BOLT & NUTS, SPECIAL TYPE OF AUTOMOTIVE NUT & BOLTS, INDUSTRIAL NUT BOLT RANGE, SOCKET PRODUCT RANGE.
  • SUNDRAM FASTENERS LIMITED ( AUTOLEC DIVISION )
TVS AUTOLEC BRAND – WATER PUMP ASSY & KITS
  • ZF COMMERCIAL VEHICLE CONTROL SYSTEMS INDIA LIMITED
ZF-WABCO BRAND- AIR BRAKE PARTS, AIR COMPRASOR, BRAKE CHAMBERS, DIAPHRAMGM, KITS, BRAKE HOSES AND DEISEL EXHAUST FLUID (UREA)
  • Jullundur Motor Agency (Delhi) Limited
JMA LUBE HAVING RANGE OF ENGINE OILS , GEAR OILS , TRANSMISSION OILS , HYDRAULIC OIL , GREASE.
JMA BEARING – CLUTCH ,HUB , TAPER , CENTER , KING PIN AND BALL BEARING
JMA LINER RANGE OF PISTON SLEEVES
ZIEDEL TURBO CHARGER CORES FOR PASSENGER AND COMMERCIAL VEHICLE
  • GS AUTO INTERNATIONAL LIMITED
  • SHELL INDIA MARKETS PVT. LTD
The company deals in products viz. brakes, bearings, clutches, cooling systems, engine components, suspension, power steering, oil & lubricants, filters, etc.

The company has its corporate office at Gurgaon and seven regional offices in Delhi, Jaipur, Kanpur, Jullundur, Pune, Chennai and Kolkata to manage distribution. 

The company has a branch network of 88 branches, with a staff strength of 680 people, with a dealer network of 75000 dealers PAN India.

The company has one subsidiary, viz. JMA Rane Marketing Limited and two associate companies, namely Jullundur Auto Sales Corporation Limited and ACL Components Limited.

PROS :
  1. Company with no debit
  2. Company with good promoter holding and zero promoter pledge
  3. Company is consistently maintaining healthy dividend payout
  4. Stock PE is less than industry PE
  5. Stock is trading at 1.08 times its book value
  6. Generating good ROCE
CONS :
  1. Company has a low operating profit margin 
  2. Negative free cash flow and net cash flow
  3. Company has a low ROE
  4. Company has delivered a poor sales growth 
This is not a buy/sell advice I am not SEBI registered, just providing basic details regarding this company from various sources available online, please do your own research or consult a SEBI registered investment advisor before taking any investment decision.

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