On Tuesday, the share price of the company rose by 4.8 percent to its intraday high of Rs 248.85 from its previous close of Rs 237.25 after the company announced its business performance update for Q3.
According to the filing of JTL Industries Ltd, the company announced its quarterly business update on its sales volume and Capex.
Here are the highlights as per their filling,
● JTL’s highest quarterly sales volume was 1,00,905 MT in Q3 FY24, a 76 percent increase year on year. 9 month FY24 sales volume reached 2,59,933 MT, exceeding FY23 and increasing by 62.32 percent year on year.
● JTL’s structural steel tubes and pipes are in high demand in infrastructure and industry, both domestically and internationally.
● Sales of value-added products increased significantly in Q3 FY24, with 19,789 MT 35.39% YoY and 80,497 MT 46.79% YoY.
● Galvanization facility maintenance had a minor impact on Q3 volume, but JTL expects to recover in subsequent quarters.
● JTL is constructing a new plant in Maharashtra to significantly increase capacity and diversify its product portfolio.
● JTL intends to raise Rs. 13,100 Mn for the project through QIP, promoter contributions, and public investment.
According to the company report, the net revenue increased by 37 percent year over year, from Rs 366 crore in Q2FY23 to Rs 502 crore in Q2FY24. Their revenue rose by 0.5 percent sequentially from Rs 505 crore in Q1FY24 to the current levels.
In addition, the company’s net profit rose by 33 percent year over year, from Rs 21 crores in Q2FY23 to Rs 28 crores in Q2FY24. Their profit increased by 12 percent on a quarterly basis from Rs 25 crore in Q1FY24 to the current levels.
The company has a market capitalization of Rs 4,108 crores, and the share price of the company rose by 34 percent in the last six months and 53 percent in the year to date.
JTL Industries Limited has a low debt-to-equity ratio of 0.18, a 36 percent return on equity, a 34 percent return on capital employed, a 20 percent interest coverage ratio, and a 6 percent net profit margin.
The company promoter owns 55.8 percent of the company, the general public owns 40.8 percent, foreign institutional investors own 2.4 percent, and domestic institutional investors own 1 percent.
JTL Industries Limited is an Indian manufacturer of electric resistance welded (ERW) steel pipe, as well as section pipe and tube. The Company is in the business of producing and selling iron and steel products.
Written by Sriram KV
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