Jay Bharat Maruti retains rating

The P1 rating assigned to the Rs. 6 crore commercial paper programme of Jay Bharat Maruti (JBML) has been reaffirmed. The rating reflects the company's status as a key sheet metal supplier to India's leading car manufacturer Maruti Udyog (MUL), its comfortable working capital position and the steady improvement in its financial risk profile. The ratings also factor in JBML's high level of customer concentration with MUL, the continuing pressure on margins due to increasing competition in the car market and the consequent likely impact on the company's financial risk profile.

JBML is engaged in the manufacture of sheet metal assemblies and subassemblies. In 1999-2000, the company reported a net sales of Rs. 155.8 crores in 1999-2000 and a profit after tax of Rs. 3.80 crores.

- Corporate Bureau

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Section  : Business
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