This EV Bus Manufacturer Partners with MUON India, a Macquarie Group Company, for 2,000 Electric Buses; Stock Surges Over 120 per cent in Just 1 Year!

The company’s shares have delivered a multibagger return of over 1,030 per cent in the past 3 years.

JBM Electric Vehicles Private Limited, a subsidiary of JBM Auto Limited (“JBM”), has entered into an agreement with MUON India Private Limited, a company under the Macquarie Group. Macquarie Group has introduced an EV financing platform for India named ‘Vertelo’, providing Financing, Fleet Management, and Charging Infrastructure Solutions. This information is provided for your reference.

Under this agreement, JBM plans to deploy over 2,000 electric buses (including 9 mtr, 12 mtr, and other variants) with MUON over the next few years. Initially, JBM received an order for 43 buses in April 2024 and commenced deliveries within just one month of the date of the order. Remarkably, the company successfully completed the delivery by June 10th, 2024. This achievement stands as a significant milestone for JBM, demonstrating its expertise, agility, and capabilities in the electric bus and EV ecosystem.

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JBM attributes its productivity pace and fastest time to market to its advanced automation, frugal engineering systems, and digitalized processes with Industry 4.0, MES, and virtual manufacturing.

Incorporated in 1983, JBM Auto Ltd is a Large-Cap company engaged in the automotive business, manufacturing and selling sheet metal components, tools, dies & moulds, as well as buses. This includes the sale of spare parts, accessories, and maintenance contracts for buses.

As per the Quarterly Results, in the fourth quarter of FY24, the company recorded a revenue of Rs 1486 crore, marking a 47 per cent year-on-year growth from Rs 1010 crore in Q4 FY23. The operating profit for Q4 FY24 stood at Rs 172 crore, compared to Rs 107 crore in the same quarter of the previous fiscal year. The net profit for Q4 FY24 was Rs 62 crore, compared to Rs 28 crore.

Investors must keep this stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.