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Nirmal Bang Report
Jamna Auto Industries Ltd. recently announced a five-year plan named 'Lakshya 50XT' with the objective to achieve future growth and de-risk business through market and product diversification.
New product launches and higher share of existing value-added products will drive product diversification.
However, we believe that market diversification target (~50% mix by FY26) is a bit challenging based on the feedback we have received from our recent channel checks where the price gap between Jamna Auto and the unorganised players continues to remain high (~20%).
We continue to remain positive on the company since we believe that it will be a key beneficiary of the recovery in commercial vehicle cycle over the next few years.
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