During Tuesday’s trading session, the shares of a steel tube manufacturing company surged 9.5 percent to Rs. 240.8 on BSE, after the company’s Board scheduled a meeting to consider the proposal for stock split as well as bonus issue.
With a market capitalisation of Rs. 4,414.7 crores, at 02:31 p.m., the shares of JTL Industries Limited were trading in the green at Rs. 237.2, up by nearly 7.8 percent, as against its previous closing price of Rs. 219.9.
What’s the News:
As per the latest regulatory filings with the stock exchanges, a meeting of the Board of Directors of JTL Industries is scheduled to be held on Thursday, 3rd October 2024.
During this meeting, the Board will consider and approve the sub-division or split of the company’s equity shares having a face value of Rs. 2 each, in a manner determined by the Board.
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Additionally, they will consider a proposal to issue bonus shares to the company’s equity shareholders.
Previous News:
On 10th September, JTL Industries Limited announced plans to expand its Galvanized Iron (GI) plant in Mangaon, Maharashtra.
This new facility will substantially boost the company’s production capacity by an additional 5,000 MT per quarter. This expansion is a key step in JTL’s strategy to increase the share of Value-Added Products (VAP).
Financials:
The company experienced marginal growth in its revenue from operations, showing a year-on-year rise of around 2 percent from Rs. 505 crores in Q1 FY24 to Rs. 515 crores in Q1 FY25, driven by strategic market expansion, increased product demand, higher sales volumes, and enhanced product offerings.
Further, the net profit of JTL Industries increased during the same period from Rs. 25 crores to Rs. 31 crores, indicating a growth of nearly 24 percent YoY.
On a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 36.3 crores in Q1 FY24 to Rs. 43.8 crores in Q1 FY25, registering a growth of 20.8 percent, driven by
the company’s efficient cost management and operational excellence. Stock Performance
The shares of JTL Industries have delivered positive returns of nearly 1.6 percent of returns in one year, as well as around 21.6 percent returns in the last six months.
About the Company:
Incorporated in 1991, JTL Industries Limited, formally known as JTL Infra Limited, is primarily engaged in the business of manufacture and sale of Iron and Steel products. It is an integrated manufacturer and supplier of steel tubes, pipes and allied products having manufacturing facilities in India.
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Written by Shivani Singh
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