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Annual Report 2019-20.Pdf JAY BHARAT MARUTI LIMITED CORPORATE OVERVIEW ANNUAL REPORT 2019-20 CONTENTS DEFINING Corporate Overview RESILIENCE 02 Defining Resilience 03 Our Milestones The Manufacturing Industry has weathered three industrial revolutions and in amidst of the fourth 05 Chairman’s Message and most disruptive one. Stalwarts that revolutionized changed in such times are iconic examples of ‘Resilience.’ Changing within, in terms of practices and policies, as well as externally in order to adapt Standalone Financial Highlights 07 and satisfy their customer’s requirements with total quality management as an inherent driving force. Jay Bharat Maruti in Brief 09 To perform with such a mission under adverse conditions is possible when thought leadership and Awards & Accolades 12 the organization on the whole, focuses on business delivery to create value for all its stakeholders and 13 Corporate Social Responsibility this what truly is “Defining Resilience” in its true sense. Resilience for us is the distinguishing trait that 14 Corporate Information Management Reports differentiates the winner from the participant. In relation to the defining resilience, Steven Covey wrote an inspiring quote that states “ Proactive People Director’s Reports 17 Carry Their Own Weather With Them” and such an attribute holds true for organizations that have been Management Discussion and Analysis Report 40 built to weather-in for changes; both happening within the organization’s ecosystem as well as weathering 50 Business Responsibility Report changing industry dynamics. The refection of such proactive behavior that amplifies flexibilities to 56 Corporate Governance Report weather impacts is seen as inherent strengths of an entity in today’s day and age. It is in trying times that the foundations of organizations are tested to derive energies, stand tall and bloom in the gloom. Such Financial Statements cohesive strength within an organization can be comparable to nothing less than ‘Defining esilience’.R Standalone Auditors’ Report Jay Bharat Maruti Limited is aptly exemplified by the ‘Defining Resilience’ theme concept that showcases 78 spiraling of life in harsh terrains and uncertain conditions for growth. The theme is specifically apt for Standalone Balance Sheet 85 Consolidated Auditors’ Report the situation that the automotive industry is at the same time that also showcases the Resilience of Jay Standalone Statement of Profit and Loss 134 87 Consolidated Balance Sheet Bharat Maruti Ltd., as the organization that continues adapting and prevailing in the tide of an industry Standalone Statement of Change in Equity 139 economic slowdown. 89 Consolidated Statement of Profit and Loss Standalone Cash Flow Statement 141 The interesting part of this concept is the simile between organization and the industry conditions wherein 90 Consolidated Statement of Change in Equity Standalone Notes 143 the entity depicted by the sapling, is well grounded with its strong foundation build on fundamentals 92 Consolidated Cash Flow Statement 144 and strong partnership and the terrain depicts the Industry scenario. The very will of the sapling to break 146 Consolidated Notes harsh ground and find a path to stand out in the crowd is what is called Definingesilience. R 190 192 1 2 JAY BHARAT MARUTI LIMITED - CORPORATECORPORATE OVERVIEW ANNUAL REPORT 2019 20 OUR MILESTONES Plant-5 In Vithlapur, Manufacturing of High Gujarat Phase I Production Phase II Production Transfer line Roll Forming Line for Tensile Parts /Toolings Setting up started at Plant-5 started at Plant-5 (KOMATSU 2500T) at Model-Y9T at Plant 2 (upto 980 Mpa) at • Robotic Tandem Line Vithlapur, Gujarat Vithlapur, Gujarat Plant 2, Gurgaon Plant 2 • 2500t Transfer Line Commissioned at Plant Production of Model • Progressive Line 4 at Bawal for spares (S-CROSS & VITARA Commissioned 1200t Joint venture with of MSIL BREZZA) at Plant 1 Servo Press Line (Fagor- Ogihara for tooling Spain) at Plant 2, Gurgaon 2012 2014 2015-16 2017 2018 2019 SAP implemented Started Production Setup Tool Room at Commenced Swift Dzire Line OHSAS 18001:1999 ISO/TS 16949;2002 Catered to Versa line ROBOTIC TANDEM at Plant-3, Manesar Gurgaon commercial production Installation Accrediation by UL INC Accrediation by UL INC Line at Plant 3, Gurgaon of Model Swift Installed CED Paint Flexible Manufacturing (GLOBALLY FIRST) Manesar for Skin Commisioning of AXLE Shop System 5 Axis Laser Panels line(RITZ) at Plant 1 Machine at Plant 1, Gurgaon 2010-11 2008-09 2007 2006 2005 2003-04 2002-03 2001 J.V Incorporated Commissioned Successfully Initiated Presented with Bestowed with Safety & Welfare Manufacturing M-800 production at Plant 1, Commissioning of Manufacturing of National Productivity QS- 9000 & ACMA Award by the Govt. of Car Under Bodies Exhaust Systems Award Quality Trophy Haryana Gurgaon Plant 2 Implemented ERP Software System BAAN-IV 1987 1988-89 1995 1996 1997 1998 1999 2000 3 4 JAY BHARAT MARUTI LIMITED - CORPORATECORPORATE OVERVIEW ANNUAL REPORT 2019 20 The aspiration to move ahead and see opportunity in the making previous years ` 19969.74 Million. Your company further faced was, is and will be possible only when we are fundamentally loss of production and sales arising due to pandemic spread in flexible, agile and have a foundation that supports our the last quarter of FY20 which extended to Q1 of FY21. EBIDTA business and future growth endeavors. The foundation of your of the company also witnessed a shortfall of 19.58 % from Dear Shareholders, organization is attributed to our partner Maruti Suzuki India ` 1775.02 million in FY19 to ` 1427.38 million. The EBIDTA Limited that has stood the test of time and gained strength margin in FY20 stood at 8.60% from 8.89%. Your company’s As we conclude another financial year at Jay Bharat with the reinforced belief and trust we continue building net profit for the year stood at ` 280.20 million, as against ` Maruti Limited, it is my pleasure to present my thoughts together. Current scenario has led to emergence of new 521.71 million in FY19. to you at the 33rd Annual General Meeting of your opportunities, redefined skill sets and adapting of technical company. aspects of working thereby evolving to a ‘new normal’’ in the The next fiscal year will be challenging for the company due least time. The Indian Government has encouraged all these to impact of COVID-19. The Company has restarted operating Humankind is facing the biggest challenge in the form advancements in the form of ‘Atma Nirbhar Bharat’, ‘Vocal for at low capacity after Unlock 1.0, and we are expecting that of COVID-19 crisis which has crippled the economies, Local’ and ‘Digital India’ initiatives. This as a collective effort will demand will improve in coming months, as people may move health systems, industries and impacted every human lead to a faster recovery of the Indian economy, thereby your to self-mobility. being. It was the first time in our history that the entire company. We must ensure that our commitment towards this nation came to a standstill for many months together. national call is consistent and continuous. To conclude, I would like to thank our partner Maruti Suzuki India Ltd for their continued patronage on our delivery Unprecedented ways to minimize the impact of this prowess. I extend my sincere appreciation to the management blow were undertaken by the Government, industry and the staff of the company for their valued contribution to and organizations at large. In Jay Bharat Maruti Limited At this juncture, it would be imperative to quote the ‘Automotive drive excellence as a practice. A big thanks to you, our valued we ensured compliance to all Government guidelines Mission Plan(AMP) 2026’ which directs the Indian Automobile shareholders. Your faith and trust in our capabilities helps us along with the well-being of our employees which is Industry to be a front runner in the “Make In India” programme, gain the foundation that will enable us grow from strength to of utmost importance to us. Continuous education as it is amongst the foremost drivers of the manufacturing strength. combined with self-discipline and adherence to safety sector. Over the next decade, the Indian automotive sector is measures being the focal points of business continuity likely to contribute in excess of 12% of the country’s GDP and Last but not the least, a strong team bound by collective when we resumed production. The core of ‘Self- comprise more than 40% of its manufacturing sector. The AMP values and foundation continues to be our biggest pillar of resilience’ is the ability to adapt fast and bounce back envisages that the Indian Automotive Industry will grow 3.5- growth and support. by turning adversity into opportunity. Same has held 4 times in value from its current output of around ` 4,64,000 true for us in this COVID era. Swami Vivekananda, once Cr to about ` 16,16,000 – ` 18,88,500 Cr by 2026, thereby, Finally, I would like to end this note by stating said, Take up one idea, make that one idea your life, constituting almost 50% of the total manufacturing GDP. think of it, dream of it, let the brain, muscles, nerves, “The key to success is to focus on the execution in order every part of your body be full of that idea, and don’t to meet the goals we set for ourselves, and not spend our let any obstacles stop you.” Via this inspiring quote I Indian Auto Market is facing continuous slow down from last energies thinking about the obstacles that can stop us” draw a parallel to the sapling that springs to life in the two fiscal years and FY20 started with lower production due most difficult terrain which in a way truly ‘Defines Its to contraction of demand which continued to H1 of FY20, Thank You and Jai Hind.
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