Small-cap stock engaged in manufacturing and supplying steel tubes, pipes, and allied products jumped 4 percent in the day’s trade after it announced a mega capacity augmentation project for Rs. 1,310 Crores.
At 2:10 p.m. the shares of JTL Industries were trading at Rs. 251.30, up 4.38 percent from its previous day’s close price of Rs. 240.75 and its market capitalization is Rs. 4,296 Crores.
JTL Industries Limited through its subsidiary JTL Tubes Limited, is setting up a mega capacity augmentation project in Maharashtra, and to finance this project it is going to raise Rs. 1,310 Crores.
Out of the overall fundraising, the promoters and promoter group is committed to contributing Rs. 540 Crores, while the public and non-promoters will contribute Rs. 270 Crores, and the remaining Rs. 500 Crores will be garnered through the QIP route.
The state-of-the-art facility will harness cutting-edge technology to enhance efficiency and diversify the product portfolio, underscoring its dedication to propel the growth and advancement of the business.
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
It has reported a return on equity (ROE) of 35.95 percent and a return on capital employed (ROCE) of 34.22 percent, it is making good returns on its equity and capital employed.
The company’s revenue from operations grew 14.36 percent from Rs. 1,355.82 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.
Written by: Bharath K.S
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