Jamna Auto Industries Limited Annual Report 2011-12
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Jamna Auto Industries Limited Annual Report 2011-12 ANNUAL REPORT 2011-12 | 3 Jamna design 230712.indd 3 7/24/2012 3:45:06 PM CONTENTS About Us ........................................................................................................................................................................ 1 Corporate Information ............................................................................................................................................. 2 Financial Highlights ................................................................................................................................................... 4 Milestones ..................................................................................................................................................................... 5 Letter to Shareholders .............................................................................................................................................. 6 Our Manufacturing & Assembly Facilities .......................................................................................................... 8 Expanding Product Portfolio .................................................................................................................................. 9 Our Customers ............................................................................................................................................................ 10 Our Growing Presence in the After-Markets..................................................................................................... 11 What Our Partners Say About Us .......................................................................................................................... 12 Q&A with the CEO ...................................................................................................................................................... 13 Our People .................................................................................................................................................................... 16 Our Quality Standards .............................................................................................................................................. 17 Corporate Social Responsibility ............................................................................................................................ 18 Ten Years Financial Summary ................................................................................................................................. 19 Management Discussion and Analysis Report ................................................................................................ 20 Directors’ Report ......................................................................................................................................................... 22 Report on Corporate Governance ........................................................................................................................ 28 Auditors’ Report .......................................................................................................................................................... 38 Balance Sheet .............................................................................................................................................................. 42 Statement of Prot & Loss ....................................................................................................................................... 43 Cash Flow Statement ................................................................................................................................................ 44 Notes on Accounts ..................................................................................................................................................... 46 General Business Prole ........................................................................................................................................... 73 Jai Suspension Systems LLP - Auditors’ Report................................................................................................................................................ 75 - Financials ............................................................................................................................................................ 76 Consolidated Auditors’ Report .............................................................................................................................. 97 Consolidated Financials ........................................................................................................................................... 98 Notice ............................................................................................................................................................................. 129 Jamna design 230712.indd 4 7/24/2012 3:45:06 PM ABOUT US Jamna Auto Industries Limited is India’s largest, and the world’s are now better positioned than ever before to successfully manage third-largest, manufacturer of tapered leaf springs and parabolic any kind of market environment. springs for automobiles. Our vision for the company has grown over the years and we are determined to be a globally leading We will leverage upon our strategically located multi-unit automobile suspension solutions provider. manufacturing and assembly facilities, our engineering and technological excellence and our relentless pursuit of eciency Our strong relationship with customers allows us to anticipate and innovation. We will remain highly exible and responsive to their evolving needs and provide integrated solutions to meet the change and will continue to invest prudently to strengthen our same. While we remain focused on being the customer’s supplier competitive advantage and support our growth ambitions. and partner of choice, we also remain focused on protably growing our business, expanding our product oerings and We are well positioned to capitalize on the emerging opportunities markets served, strengthening our Balance-Sheet and positioning in the industry and will pursue growth strategies consistent with the company for future growth in revenues and protability. We our commitment to create value on a sustainable basis. ANNUAL REPORT 2011-12 | 1 Jamna design 230712.indd 1 7/24/2012 3:45:09 PM CORPORATE INFORMATION BOARD OF DIRECTORS MANAGEMENT TEAM Mr. Bhupinder Singh Jauhar Mr. Randeep Singh Jauhar Chairman CEO & Executive Director Mr. Randeep Singh Jauhar Mr. Pradeep Singh Jauhar CEO & Executive Director COO & Executive Director Mr Pradeep Singh Jauhar Mr. S. P. S. Kohli COO & Executive Director President & Executive Director Mr. S. P. S. Kohli Mr. Sunil Laroiya President & Executive Director Vice President - International Business and Head (R&D) Dr. Pierre Jean Everaert Mr. A. K. Goyal Nominee-Clearwater Capital Partners (Cyprus) Ltd Vice President and Head of Malanpur Plant Mr. Karthik Athreya Mr. Madhukar Sharma (Alternate Director to Dr. Pierre Jean Everaert) Global Head (After Market) Mr. R. Muthupalani Mr. D. K. Jain Senior GM and Head of Chennai & Hosur Plant Nominee-IFCI Limited Mr. R. P. Singh Mr. Jainender Kumar Jain General Manager and Head of Yamuna Nagar Plant Additional Director Mr. Shakti Goyal Mr. Chander Kailash Vohra GM (Finance & Strategic Sourcing) Director Mr. Sudheer Chandele Mr. Uma Kant Singhal Acting Plant Head of Jamshedpur Plant Director Mr. Sudhanshu Kulshrestha Seth Ashok Kumar Commercial Head Jamshedpur Plant Director Mr. Shashi Bansal Mr. Praveen Lakhera Director Company Secretary & Head-Legal Singh Ved Prakash Corporate Head-HR 2 | JAMNA AUTO INDUSTRIES LTD Jamna design 230712.indd 2 7/24/2012 3:45:10 PM LEGAL ADVISORS CORPORATE OFFICE AZB & Partners 2, Park Lane, Kishangarh, Vasant Kunj, Lakhsmikumaran & Sridharan New Delhi-110 070, India Ph. no. 011-26893331, 26896960 TECHNICAL ASSISTANCE Fax no. 011-26893180, 26893192 Ridewell Corporation, USA PLANT JOINT VENTURE PARTNER i) Jai Springs Road, Industrial Area, NHK Spring Co; Ltd, Japan Yamuna Nagar – 135 001, Haryana (NHK Spring India Ltd) ii) U-27-29, Industrial Area, Malanpur, BANKERS District Bhind– 477116, M.P. State Bank of India iii) Plot no. 22-25, Sengundram Village, Maraimalainagar ICICI Bank Ltd Industrial Complex, Singaperumal Koil Post, Kotak Mahindra Bank District Kanchipuram - 603 204, Tamil Nadu Standard Chartered Bank iv) 262 - 263, Village Karnidih, Chandil, District Saraikella, IndusInd Bank Ltd Kharswan - 832401, Jharkhand Lakshmi Vilas Bank v) Gata no. 1490, Khajoor Gaon, Chinhat-Deva Road, AUDITORS District Barabanki - 225003, U.P. B S R & Co. vi) Thally Road, Kalugondapalli Post, Hosur-635114, Chartered Accountants District Krishnagiri, Tamil Nadu SHARE REGISTRAR & TRANSFER AGENT RTA UNDER SUBSIDIARY ENTITY Skyline Financial Services (P) Ltd JAI SUSPENSION SYSTEMS LLP D-153 A, First Floor, Okhla Industrial Area, Phase – I, Plot no. 50A, Sector-11, I.I.E., Pant Nagar, New Delhi-110020 District Udham Singh Nagar - 26353, Uttarakhand Ph. no. 011-26812682, 26812683 REGISTERED OFFICE Fax no. 011-26292681 Jai Springs Road, Industrial Area, Yamuna Nagar-135001 Email: [email protected] Ph. no. 01732-251810/11/14 INVESTOR CELL Mr. Praveen Lakhera Company Secretary & Head-Legal [email protected] ANNUAL REPORT 2011-12 | 3 Jamna design 230712.indd 3 7/24/2012 3:45:10 PM FINANCIAL HIGHLIGHTS GROSS SALES PBDIT (` in lacs) (`