Jay Bharat Maruti (JBM) has revealed its plans to set up two new auto components manufacturing plants in Haryana and Gujarat.
The plants will cater to the requirements of its client Maruti Suzuki India.
These facilities will be commissioned at Kharkhoda, Sonipat in Haryana and SMG Suppliers’ Park in Gujarat.
The new manufacturing plant at Kharkhoda plants will provide capacity enhancement to meet the requirements of Maruti Suzuki’s new manufacturing plant at IMT Kharkhoda, which is expected to be commissioned by FY2025.
On the other hand, the assembly plant in Gujarat will be for supplying auto assemblies.
JBM says it will invest around Rs 300-350 crore in a phased manner towards meeting Maruti Suzuki India’s growth strategy.
In FY2023, JBM reported net sales of Rs 4,728 crore, which was 3 percent lower than the same period last year.
JBM is India’s leading supplier of automotive components with its net profit recorded at Rs 284 crore, down 38 percent, compared to Rs 464 crore a year ago.
