The Hindu Business Line : JBM Group aims over 20% jump in ‘09-10

NEW DELHI: Auto component maker JBM Group said on Wednesday it expects revenue to grow over 20 per cent this fiscal on account of revival in the automotive market. The company, which had clocked a turnover of Rs 2,700 crore last fiscal, is in final stage s of tying up with an European firm for its planned foray into bus manufacturing.

“The atmosphere is positive in the Indian automobile industry and demand is coming back from original equipment manufacturers (OEMs),” JBM Group Executive Director Mr Nishant Arya said.

He announced JBM's partnership with designing firm Dassault Systemes to enter the education sector to give training to auto designers and engineers. Mr Arya said with sales reviving across the segments such as passenger vehicles, two-wheelers and commerc ial vehicles, the profit margins of the company have also improved.

“The group is targeting a revenue of Rs 3,300 crore in the current financial year,” he said. Besides, the group firm JBM Auto Ltd is expecting its turnover to grow to Rs 350 crore in FY'10 from Rs 216 crore in last fiscal.

Asked about its planned foray into manufacturing of buses in the country, Mr Arya said: “We have almost finalised our partnership with an European firm and initially the products will be rolled out from our Kosi plant in Uttar Pradesh.”

The company would later set up a dedicated bus manufacturing facility in one of India's auto hubs, like Gurgaon, Chennai or Pune, he added. - PTI

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