JBM Auto has incorporated a wholly owned subsidiary, JBM EV Ventures Private Limited, to provide electric vehicle (EV) battery services on a subscription basis. The subsidiary will focus on research, development, manufacturing, and sale of battery technologies and related products.
JBM Auto has subscribed to 50,000 equity shares of JBM EV Ventures, each with a face value of Rs 10, totaling Rs 5,00,000. It holds 100% ownership in the newly formed entity. The company stated that the subsidiary will participate in both government and private sector initiatives aimed at supporting EV adoption.
JBM Auto operates in the automotive sector, producing sheet metal components, tools, dies, moulds, and buses, including spare parts and maintenance services. In Q3 FY25, the company reported an 8.2% year-on-year increase in consolidated net profit to Rs 52.64 crore, while net sales rose 3.7% to Rs 1,396.15 crore.