JAMNA AUTO IND LTD

Manufactures automotive suspension components — primarily leaf springs and parabolic springs, plus slipper suspensions and drop axles — sold mainly to commercial vehicle makers in India. Customers include Tata Motors, Ashok Leyland and Mahindra, and the company recently started exporting to Stellantis. New manufacturing capacity was commissioned at Adityapur and Indore in FY26, taking the plant count to 10 across India, sited near OEM hubs. The aftermarket channel — leaf springs and allied products sold through distributors, retailers and mechanics for vehicle replacement — contributed 8% of revenue in FY26, up from 6%. To grow internationally, the company has approved a 2 million pound acquisition of Owen Springs Limited, a UK maker of leaf and parabolic springs with 350-plus SKUs, about 250 UK distributors and roughly 8% share of the British aftermarket spring market. Raw materials are the largest cost, at 60.6% of revenue in FY26, with employees at 7.5% and other operating expenses at 15.2%.