Jamna Auto Industries Limited
Preview the depth — unlock the full forensic study.
You're reading the free Overview. The full Landscape study, the Lenses, governance and quality scans unlock with Pro — across 5,000 Indian companies.
Briefing
Jamna Auto Industries Limited — the brief
Forensic posture: Clean disclosures. The auditor flagged 2 medium-severity control gaps (ransomware-related audit trail outage and missed daily backups) rather than accounting substance issues, the company has ₹288 Cr in loans to loss-making subsidiaries that merit watch, and ₹133 Cr in GST disputes; otherwise the financials are sound with a composite earnings quality of 85/100 and no bankruptcy risk.
Auditor’s report (CARO 2020)
Auditor’s assessment Material flags. Auditor: Price Waterhouse Chartered Accountants LLP. Opinion: Unqualified. Fiscal year FY24-25. 0 critical, 2 material, 0 minor flags.
- Backup of books of account not maintained daily: The company failed to maintain daily backups of electronic records on Indian servers for certain periods during the year, creating data security and regulatory compliance risks.
- Audit trail feature not fully operational: The company's accounting software audit trail controls were compromised during a ransomware incident in July 2024 and audit logs for certain user modifications were not enabled, limiting transaction auditability.
Related-party transactions
Assessment Notable. Disclosed volume of ₹385 Cr across 17 related parties. Fiscal year FY24-25.
- Large interest-bearing loans to loss-making subsidiaries doubled: Outstanding loans to subsidiaries surged from Rs. 13,505.07 lakhs (135 Cr) to Rs. 28,783.98 lakhs (288 Cr) in one year, predominantly to Jai Suspensions Limited and Jai Automotive Components Limited, both of which have incurred cash losses
- Two subsidiaries reporting cash losses while receiving large loans: CARO reports for Jai Suspensions Limited (cash loss Rs. 45.34 lakhs) and Jai Automotive Components Limited (cash loss Rs. 1,162.69 lakhs) flag persistent cash losses, raising questions about the recoverability of the Rs. 288 Cr in outstandi
- Rent paid to wife of Chairman: The company paid rent of Rs. 9.25 lakhs to Mrs. Sonia Jauhar (wife of Chairman Mr. R.S. Jauhar), a transaction with a direct KMP relative that warrants confirmation of arm's-length terms.
Contingent liabilities
Assessment Notable. Total disclosed: ₹197 Cr (1.9% of net worth). Fiscal year FY24-25.
- GST disputes including ITC, TRAN-1, GSTR 3B vs 2A, bogus invoices (FY25 Rs.1,328.01 vs FY24 Rs.1,251.51 lakhs)
Corporate governance
Board of 7 directors, 57% independent. Chair: Randeep Singh Jauhar. Chair and CEO roles are separated. Statutory auditor: Price Waterhouse Chartered Accountants LLP. Board remuneration: 4.5% of net profit. Fiscal year FY24-25.
“the backup of books of account and other books and papers maintained in electronic mode has not been maintained on a daily basis on servers physically located in India from July 4, 2024 to October 20, 2024 and February 21, 2025 to March 4, 2025”
What retail misses·The ransomware incident in July 2024 that broke audit trail controls is buried in CARO Annexure A and would not appear on typical screeners or in earnings headlines; similarly, the doubling of subsidiary loans to loss-making entities and the 11.7x jump in entry tax demands are footnote detail that materially affect contingent exposure but rarely surface in market commentary.
Strengths noted in disclosures: Earnings quality composite score of 85/100 with cash flow matching profit, low manipulation risk, and top-decile profitability metrics. · Altman Z-Score of 9.08 places the company firmly in the safe zone with low bankruptcy risk. · Piotroski F-Score of 7/8 indicates strong fundamentals across 7 of 9 quality tests.
Forensic signal
From the company's own filingsStrong: 52-Week · Weak: Yield