Jamna Auto Industries Ltd

1/17

Company Profile

r subtitle style

5/29/2015 2

Market Capitalization

INR 1000 Cr Approx. (Share Price INR 240/- ~ INR 250/-)

Production Spring Capacity

2013 – 150,000 MT 2014 – 180,000 MT

Alliance Ridewell (USA) – Air Suspension & Lift Axle

Manufacturing Plants 6 Plants in 5 States

Listed in Stock Exchange

BSE – 520051, JAMNAUTO NSE – JAMNAAUTO

Sales

3rd in the World

2

Jamna Auto Industries Ltd

Jamna Auto – INR 1000 Cr

2/17

r subtitle style

5/29/2015 3

Global Spring Manufacturers Global Leaf Market Scale

3

Current

1980’s Leaf Spring Manufacturer Base Country CapacityNHK Spring Co. Ltd. Japan 2,00,000Delphi USA 1,00,000Eaton/Oxford Canada 1,00,000Krupp Germany 40,000Hendrickson USA 40,000DSP USA 40,000Rejna Europe 40,000Hoesh Germany 30,000Sarfedern Germany 20,000Johns Woodhead UK 10,000

Indian Market Scenario

Leaf Spring Manufacturer Base Country CapacityRassini Mexico 2,50,000Hendrickson Canada & Mexico 1,90,000Jamna Auto Industries Ltd. India 1,80,000NHK Spring Co. Ltd. Japan & Thiland 1,50,000Ventanna Eurpoe 1,10,000Dong Feng China 1,05,000FAW China 1,00,000MBHA Spain 36,000Olgin Turkey 28,000LPDN Eurpoe 24,000

3/17

r subtitle style

5/29/2015 4 4

Jamna Auto Industries Ltd - Share Holding

Promoters

Foreign - OCB

General Public

Other Companies

Foreign - NRI

Foreign Institutions

Others

NBFC and Mutual Funds

Financial Institutions

Category No. of Shares Percentage

Promoters 1,74,09,830 44.04

Foreign Corporate Bodies 1,35,01,653 34.15 * General Public 70,73,730 17.88 Other Companies 6,72,890 1.70 Foreign - NRI 3,32,589 0.84 Foreign Institutions 2,59,815 0.66 Others 2,12,350 0.54 NBFC and Mutual Funds 65,482 0.17 Financial Institutions 6,650 0.02 Total 3,95,34,989 100.00

* Foreign Corporate Bodies %28

NHK Spring Co, Japan 6 Total 34

Clearwater Capital (Cyprus & Singapore)

4/17

r subtitle style

5/29/2015 5

Industry Leader (in India) ~ nearest Competitor 11% Market Share

Manufacturing More Than 400 Parts OEM Market Share 63%, OEM Share in Parabolic: 95%

Manufacturing more than 350 Parts

Industry Leader (in India) nearest competitor 13 % Market Share

Strategically located all over India

FY 15 Sales INR 1100 Cr & Installed Capacity 180,000 MT p.a.

JAI’s Strength

5/17

5/29/2015 6

Conventional Leaf spring

Parabolic Leaf Spring Lift Axle

Current Products

Air Suspension

Products

6/17

r subtitle style

5/29/2015 7

Locations

Yamuna Nagar

Malanpur

Chennai

Jamshedpur

Pant Nagar

Hosur

Products

Leaf Spring

Parabolic Spring

Lift Axle

Air Suspension

Markets

OE India

AM India

OE – Exports

AM – Exports

6 Locations 4 Products 4 Markets

Assembly Plants

Main Plants

* OE India- Original Equipment Manufacturer

* AM India – After Market India

Presence

Serving more than 20 OEM Customer Locations in India 7/17

r subtitle style

5/29/2015 8

Domestic Customers

New Multinational Domestic Customers

Exports Customers

8/17

r subtitle style

5/29/2015 9

TATA Motors

TATA Motors

Pant Nagar

Bhuj

1. TATA Motors

2. Ashok Leyland

Ropar

Indore

Bangalore

1. VOVLO

2. Ashok Leyland

3. Kamaz Vectra

4. Leyland Nissan

5. Scania –Coming Up in 2015

Chennai 1. Ashok Leyland

2. Bharat Benz (Daimler)

3. Renault Nissan

4. Ford India

5. ISUZU –Coming up in 2014

OEM Plants

JAI &OEMs Presence in India

1. AMW

Lucknow

Jamshedpur

JAI – Chennai

JAI – Jamshedpur

JAI – Pantnagar

JAI – Yamuna Nagar

JAI – Gwalior

JAI – Hosur

JAI Existing Plants

1. SML ISUZU

1. VECV

2. Force Motors

3. MTI

9/17

Jamna Auto Industries Ltd

Financial Update

2014-15

10/17

Jamna Auto Industries Ltd FY15 Highlights

• Upgradation of Credit Ratings by ICRA (Three Notches) - Long Term Rating improved from LBBB- to A- - Short Term Rating improved from A3 to A2+ - Further Long Term rating improved to A and Short Term Rating to A1 in April 15

• Healthy Liquidity Position

INR in Cr

Unutilized Working Capital Limits (PO Finance & Cash Credit)

50

BOE/Discountable Invoices in hand (Volvo, Nissan, SML, VE Commercial)

11

Balance in Current Accounts 7

Total 68

Since Jamna is into CV Industry which is cyclical in nature, these funds will be used for better cash flow management

during down trend

Note: Above liquidity position is after advancing LC payments of INR 44 Cr in March 15

LT ST

Oct 12 D D

Mar 13 BB+ A4+

Jul 13 BBB- A3

Jun 14 BBB A2

Sep 14 A- A2+

April 15 A A1

11/17

Jamna Auto Industries Ltd FY15 Highlights - Cont’d • Focus on organization creation by engaging high performing professionals

• Market Capitalization increased from INR 280 Cr to INR 1000 Cr

• Break Even levels reduced primarily due to reduction in Manufacturing Cost, Interest Cost and

improvement in Productivity.

• TML Share of Business increased from 65% to 73%

• Lift Axle Sales increased from 1981 Nos. (FY14)to 6940 Nos. (FY15) {Low Capital intensity business}

• WAC reduced from 13.1% p.a. to <10% p.a. through Interest Swaps from Kotak, HDFC and ICICI

• Inducted two Banks (HDFC INR 30 Cr & Axis Bank INR 35 Cr) into Consortium for LC Limits

• Enhancement of Working Capital Limits from INR 197 Cr to INR 255 Cr. (Kotak INR 25 Cr, ICICI by INR 15 Cr, SCB by INR 5 Cr) • Steel Buying of INR 22 Cr done on Cash Discount basis in Q4 • Strengthened Balance Sheet through healthy Cash Flow and Debt reduction from INR 123 Cr to INR

62 Cr. Entire Short Term borrowing has been repaid. 12/17

Jamna Auto Industries Ltd Borrowing Trend

93 105

62 55

71

18

0 0

164

123

62

55

-

20

40

60

80

100

120

140

160

180

M A R 2 0 1 3 M A R 2 0 1 4 M A R 2 0 1 5 M A Y 2 0 1 5

Long Term

Short Term (WC)

Total Borrowing

INR in Cr

Note: Debt as on 31.03.2015 includes on year Term Loan liability of INR 38 Cr

13/17

Commercial Vehicle Trends & Market Share Jamna Auto Industries Ltd

2013-14

2014-15

Growth

Growth in 2013-14

M & HCV Production (Nos.)

2,21,556 2,68,553 21% -21%

LCVs (Nos.) 4,77,479 4,28,530 -10% -14%

Vehicle Production (Nos.)

6,99,035 6,97,083 -0.3% -16%

Spring Demand (MTs) 1,37,119 1,65,130 20% -21%

JAI 's Business (MTs) – OEM 78,158 1,04,032 33% -23%

Market Share (%) 57 63 6% -1%

Note: Growth in Market Share is primarily due to increase in TML SOB from 65% to 73% in 2014-15

JAI’s presence

14/17

Jamna Auto Industries Ltd Sales Comparison (In MTs)

Springs (Figures in MT)

2013-14 2014-15FY FY

OEM 78,158 79.7% 1,04,032 82.8%

Replacement 19,948 20.3% 21,565 17.2%

Total 98,106 100% 1,25,597 100% Growth 28%

Lift Axle (Nos.) 2013-14 2014-15FY FY

1,981 6,940 Growth 250%

Net Sales (INR in Cr) 2013-14 2014-15

(Consolidated) FY FY

833 1,095 Growth 31%

Segment % %

15/17

Jamna Auto Industries Ltd Financial Results (Standalone)

FY15 Q4INR in Cr INR in Cr

2013-14 2014-15 Growth 2013-14 2014-15 2014-15 Growth*in % Q-4 Q-3 Q-4 in %

Net Sales 716.4 979.2 37% Net Sales 215.8 234.2 301.9 40%

Export Sales 7.9 10.8 37% Export Sales 2.6 2.2 2.3 -12%

EBITDA (Normalised) 41.3 86.0 108% EBITDA 14.9 20.2 36.0 141%

Operating Margin 16.4 56.7 246% Operating Margin 8.1 13.4 25.8 217%

PBT (Operational) (4.3) 39.8 1028% PBT 3.1 9.2 21.7 596%

PAT * 14.3 29.4 106% PAT 2.9 5.7 15.2 428%

Cash Accruals 39.1 58.7 50% Cash Acctuals 9.7 12.5 25.4 163%

EBITDA Margin (%) 5.8% 8.8% 52% EBITDA Margin (%) 6.9% 8.6% 11.9% 72%

Operating Margin (%) 2.3% 5.8% 153% Operating Margin (%) 3.8% 5.7% 8.5% 127%

PBT (%) -0.6% 4.1% 779% PBT (%) 1.4% 3.9% 7.2% 398%

PAT (%) * 2.0% 3.0% 51% PAT (%) 1.3% 2.4% 5.0% 277%

Cash Accruals (%) 5.5% 6.0% 10% Cash Accruals 4.5% 5.3% 8.4% 88%

* PAT (FY14) includes Exceptional items of INR 17.6 Cr * Growth over Q4 of 2013-14

16/17

Jamna Auto Industries Ltd Financial Results (Consolidated)

FY15 Q4INR in Cr INR in Cr

2013-14 2014-15 Growth 2013-14 2014-15 2014-15 Growth*FY FY in % Q-4 Q-3 Q-4 in %

Net Sales 833.8 1,095.0 31% Net Sales 245.9 262.1 342.0 39%

Export Sales 7.9 10.8 37% Export Sales 2.6 2.2 2.3 -12%

EBITDA (Normalised) 49.1 96.5 96% EBITDA 17.0 22.3 39.8 135%

Operating Margin 23.2 65.4 182% Operating Margin 9.7 15.2 29.3 202%

PBT (Operational) (0.8) 47.4 PBT (Operational) 4.0 10.7 24.9 524%

PAT * 13.8 29.4 112% PAT 2.9 5.4 15.3 421%

Cash Accruals 39.8 60.5 52% Cash Accruals 10.2 12.6 25.8 154%

EBITDA Margin (%) 5.9% 8.8% 50% EBITDA Margin (%) 6.9% 8.5% 11.6% 69%

Operating Margin (%) 2.8% 6.0% 114% Operating Margin (%) 3.9% 5.8% 8.6% 117%

PBT (%) -0.1% 4.3% PBT (%) 1.6% 4.1% 7.3% 348%

PAT (%) * 1.7% 2.7% 62% PAT (%) 1.2% 2.1% 4.5% 274%

Cash Accruals (%) 4.8% 5.5% 16% Cash Accruals (%) 4.1% 4.8% 7.6% 82%

* PAT (FY14) includes Exceptional items of INR 17.6 Cr * Growth over Q4 of 2013-14

17/17

Thank You