JMT Auto Limited
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BSE Code:
513691
NSE Code:
JMTAUTOLTD
Business Profile
Business Profile
JMT Auto (JMTAUTO) executes job works and ancillary production for auto majors. It specializes on gears, shafts, pins and excavator components. The company has production facilities at Jamshedpur, Jharkhand and Dharwad, Karnataka.
The company started out as an ancillary of TELCO and is now supplying to other auto majors like TELCON, CNH, DAIMLER CHRYSLER and TAFE. It has secured a QS-9000 certification.
The company`s registered office is in Kolkata and Rajeev Singh Dugal is the managing director.
Financials
JMT Auto registered a decline in net profit of Rs 17.17 million for the quarter ended December 2006 from a profit of Rs 17.56 million for the quarter ended December 2005.
Net sales for the quarter rose 50.03% to Rs 498.35 million for the quarter ended December 2006 from Rs 332.16 million for the quarter ended December 2005.
Total income rose 48.27% to Rs 502.72 million for the quarter ended December 2006 from Rs 339.06 million for the quarter ended December 2005.
The earnings per share (EPS) of the company stood at Rs 1.22 for the quarter ended December 2006.
Recent Developments
22-FEB-08
JMT Auto and Timken India Manufacturing has inked and entered into a new memorandum of understanding (MoU) on certain terms and conditions on Feb. 21, 2008 for expansion of their existing project at Dharwad, Karnataka specially set up for Timken India Manufacturing and also for investing of backward integration.
14-MAY-07
On May 12, 2007, the board of directors transacted the following business:1. Pursuant to Board resolution passed on September 21, 2006 120,000 equity shares be allotted having a face value of Rs 10/- per share, @ Rs 108.15 including a premium of Rs 98.15 per share, to the warrant holders, Bach, on conversion of 120,000 warrants held by them, subject to necessary provisions and approvals.2. Further, 140,000 equity shares and 40,000 equity shares be allotted having a face value of Rs 10/- per share @ Rs 108.15 including a premium of Rs 98.15 per share, to the warrant holders RSD Finance and Rajeev Singh Dugal, the promoters of the company respectively on conversion of 140,000 warrants and 40,000 warrants held by them respectively, subject to necessary provisions and approvals.