JBM EV Ventures will focus on research, development, manufacturing, and sale of advanced battery technologies and related products. The subsidiary will engage in activities that support the adoption and usage of electric vehicles, participating in government and private sector initiatives to promote sustainable transportation. Additionally, it will carry out any other allied business activities that align with the company’s goal and benefit its stakeholders.
The company has subscribed to 50,000 equity shares of JBM EV Ventures, each with a face value Rs 10 totaling Rs 5,00,000. It holds 100% shareholding in JBM EV ventures private.
JBM Auto is engaged in the automotive business that manufactures and sell sheet metal components, tools, dies & moulds and buses including sale of spare parts, accessories & maintenance contract of buses.
The company’s consolidated net profit increased 8.2% to Rs 52.64 crore in Q3 FY25 as compared with Rs 48.66 crore in Q3 FY24. Net sales rose 3.7% YoY to Rs 1396.15 crore during the quarter.
The counter declined 2.32% to end at Rs 584.05 on Tuesday, 25th February 2025.