Small-cap stock engaged in manufacturing and supplying steel tubes, pipes, and allied products in talk after it declared robust Q3FY24 results with a jump in Net Profits by 47 percent.
At 2:20 p.m the shares of JTL Industries Limited were trading at Rs. 249, down 4.91 percent from its previous day’s close price of Rs. 261.85 and its market capitalization is Rs. 4,250 Crores.
Its revenue from operations grew by 65.25 percent YoY from Rs. 343.33 Crores in Q3FY23 to Rs. 567.38 Crores in Q3FY24 and it grew 13 percent QoQ from Rs. 502.1 Crores in Q2FY24 to Rs. 567.38 Crores in Q3FY24.
Its Net Profit grew by 47.29 percent YoY from Rs. 20.49 Crores in Q3FY23 to Rs. 30.18 Crores in Q3FY24 and it grew 8.13 percent QoQ from Rs. 27.91 Crores in Q2FY24 to Rs. 30.18 Crores in Q3FY24.
In addition to this, recently it announced to set up a mega capacity augmentation project with an investment of Rs. 1,310 Crores to enhance its efficiency and diversify the product portfolio.
JTL Industries Limited is an integrated manufacturer and supplier of steel tubes, pipes, and allied products, the product offerings include, Electric Resistance Welding (ERW) pipes, galvanized pipes, solar structures, and many more.
JTL has a pan-India presence and a diverse geographic footprint, providing products to over 20 nations in 5 continents, with over 800+ retailers & distributors and 1000+ SKUs.
It has a strong customer base with well-known clients such as Tata Power, Sterling and Wilson, Indian Oil Corporation, IGL, L&T, Power Grid, and many more
The company’s revenue from operations grew 14.36 percent from Rs. 1,355.32 Crores in FY22 to Rs. 1,549.92 Crores in FY23, accompanied by increasing profits of Rs. 61.06 Crores to Rs. 90.13 Crores.’
It has reported a return on equity (ROE) of 30.01 percent and a return on capital employed (ROCE) of 34.6 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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