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JBM Auto leading contender to acquire controlling stake in SML Isuzu

Vehicles |Industry

The Japanese promoters of SML Isuzu are seeking to leave the business and are in advanced negotiations to sell their stake to JBM Auto.

741 views | Date: June 16, 2023

JBM Auto leading contender to acquire controlling stake in SML Isuzu

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JBM Auto, a manufacturer of auto parts and equipment, is the front-runner to buy a majority stake in the automaker SML Isuzu.The Japanese promoters of SML Isuzu are seeking to leave the business and are in advanced negotiations to sell their stake to JBM Auto. Sumitomo Corporation, a Japanese company that owns 43% of SML, an Indian company, is in advanced talks to wind down its operations there. The report, however, made no mention of any other stake bidders.

JBM has begun the due diligence process, and it was stated that the purchase would likely value SML higher than its existing share price. A presence in new commercial vehicle markets, such as the school bus segment, is anticipated to be made possible by the potential acquisition, and JBM Auto will also have access to SML Isuzu's enormous dealer network.

JBM's net profit in Q4FY23 was 28.4 crore, down 66% from the same quarter one year prior when it was 85.3 crore. Additionally, revenue fell by 5.7% to $1,010 crore from $1,072 crore in the fourth quarter of the previous year. EBITDA decreased by 11.5% to 108 crore in Q4FY23 from 122 crore in the same quarter last year. EBITDA margin is down from 11.3% in Q4 FY22 to 10.7% now.