This S&P BSE Smallcap index stock jumped 4.7% within the first half hour of markets opening on Friday after it released its Q2 FY24 Results and Corresponding Investor presentation.
The stock currently trades at Rs. 244.00 versus Rs. 236.30 at previous close. The company has a market cap of Rs. 4,141 crore and is currently trading 2% away from its 52 week high and has returned 57% YTD. The stock was listed on BSE in Q3 FY22 and on NSE in Q1 FY24.
In filings dated 12th October 2023, JTL Industries Ltd (“JTL”) reported robust Q2 growth measured by various metrics. Revenue for Q2 FY24 was at Rs. 502.1 crore, up 37% from Rs. 365.93 crore in Q2 FY23. Net profits grew 33% YoY from Rs. 20.9 crore to Rs. 27.91 crore.
Net Margins stand at 5.58%, down 16 bps YoY. Likewise, Revenue for H1 FY24 was at Rs. 1010.7 crore, up 37% from Rs. 737.34 crore in H1 FY23. Net profits grew 62% YoY from Rs. 329.77 crore to Rs. 532.84 crore in H1 FY24.
Other metrics that are reported to have grown include – domestic volumes at 77,293 MT vs 48,264 MT PY, Export volumes of 4,393 vs 3,837 MT in Q2 FY23. H1 volumes has grown from 102,822 in FY23 to 159,026 in H1 FY24.
The Chandigarh-based JTL Industries Limited is one of the steel tube industry’s fastest-growing companies.
In Punjab, Maharashtra, and Chhattisgarh, the company has manufacturing facilities. GI Pipes, MS Black Pipes, Hollow Sections, and Solar Structures are just a few of the company’s well-known product offerings that are suitable for a variety of industrial and infrastructure applications.
The company is also a recognized Star Export House. Pre-galvanized, hot-dip galvanized, and uncoated (MS black) grades are all offered for all products.
Written by Sandeep R
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