JTL Industries Ltd

JTL Industries will hold a meeting of the Board of Directors of the Company on 10 May 2024.

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Nabha Steels and Metals is engaged in the manufacturing of Steel Products such as coils and long steel products such as billets having a manufacturing capacity of 2,00,000 tonnes. The company’s provisional turnover for FY24 is Rs 225.27 crore.

This acquisition will increase JTL's total backward integration capacity from 150,000 tonnes of coils (previously concentrated solely from the Raipur plant) to 250,000 tonnes of coils and 100,000 tonnes of long products, with backward integrated operations now spanning across Chhattisgarh and Punjab.

The said stake in Nabha Steels has been acquired by JTL for a cash consideration of Rs 70 crore.

The management team of JTL Industries stated: We are excited to share our strategic milestone of acquiring 67% controlling interest in Nabha Steels & Metals in Mandi Gobindgarh, Punjab.

By integrating this new facility into our operations, we have significantly strengthened our backward integration capabilities, doubling our capacity from 150,000 tonnes of coils to 250,000 tonnes of coils and 100,000 tonnes of long products across Raipur and Punjab.

This plant also expands our product portfolio, particularly in steel products such as coils, billets and other long products. Moreover, it allows us to explore new market segments, tapping into previously untapped opportunities and extending our reach into emerging complementary markets.”

JTL Industries is one of the fastest-growing steel tube manufacturers, with manufacturing facilities in Punjab, Maharashtra, and Chhattisgarh. The company's cumulative capacity is 6,86,000 MTPA, offering a diverse product range including GI pipes, MS Black pipes, hollow sections, and solar structures, catering to various industrial and infrastructural applications.

The company had reported 47.22% rise in consolidated net profit to Rs 30.18 crore on a 65.26% increase in revenue from operations to Rs 567.39 crore in Q3 FY24 as compared with Q3 FY23.

The scrip rose 0.55% to currently trade at Rs 217.45 on the BSE.

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JTL Industries has strategically acquired a controlling stake of 67% in Nabha Steels and Metals, situated in Mandi Gobindgarh, Punjab. This grants JTL ownership of an advanced steel product manufacturing facility. The newly acquired plant has a manufacturing capacity of 200,000 tonnes and focuses on producing steel products such as coils and long steel products such as billets.

Nabha Steels and Metals has showcased tremendous revenue growth, increasing from ~Rs. 113 crore in FY23 to ~Rs. 225 crore in FY24.

This acquisition will increase JTL's total backward integration capacity from 150,000 tonnes of coils (previously concentrated solely from the Raipur plant) to 250,000 tonnes of coils and 100,000 tonnes of long products, with backward integrated operations now spanning across Chhattisgarh and Punjab.

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Tata Chemicals Ltd, JM Financial Ltd, Neuland Laboratories Ltd and Capri Global Capital Ltd are among the other losers in the BSE's 'A' group today, 11 March 2024.

JTL Industries Ltd crashed 20.00% to Rs 192.85 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 5.3 lakh shares were traded on the counter so far as against the average daily volumes of 86410 shares in the past one month.

Tata Chemicals Ltd tumbled 9.67% to Rs 1187.75. The stock was the second biggest loser in 'A' group.On the BSE, 8.6 lakh shares were traded on the counter so far as against the average daily volumes of 3.72 lakh shares in the past one month.

JM Financial Ltd lost 9.32% to Rs 79.74. The stock was the third biggest loser in 'A' group.On the BSE, 12.12 lakh shares were traded on the counter so far as against the average daily volumes of 6.84 lakh shares in the past one month.

Neuland Laboratories Ltd shed 7.81% to Rs 6025.85. The stock was the fourth biggest loser in 'A' group.On the BSE, 9529 shares were traded on the counter so far as against the average daily volumes of 2550 shares in the past one month.

Capri Global Capital Ltd fell 7.23% to Rs 230.2. The stock was the fifth biggest loser in 'A' group.On the BSE, 45361 shares were traded on the counter so far as against the average daily volumes of 44906 shares in the past one month.

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The company is on track with its earlier announced capex plan with the initiation of the dispatch and timely delivery of DFT machines in the upcoming weeks before closure of Q4 FY24 and commissioning of the same by Q1 FY25.

Through this commissioning of DFT plant, the company would be able to elevate plant capacity utilization.

JTL will be able to manufacture higher diameter pipes which would increase our kitty by 300+ SKUs of value added products. This strategic move is anticipated to significantly boost our EBITDA margins, reflecting our commitment to innovation and profitability,” it added.

JTL Industries is one of the fastest-growing steel tube manufacturers, with manufacturing facilities in Punjab, Maharashtra, and Chhattisgarh. The company's cumulative capacity is 6,86,000 MTPA, offering a diverse product range including GI pipes, MS Black pipes, hollow sections, and solar structures, catering to various industrial and infrastructural applications.

The company had reported 47.22% rise in consolidated net profit to Rs 30.18 crore on a 65.26% increase in revenue from operations to Rs 567.39 crore in Q3 FY24 as compared with Q3 FY23.

The scrip fell 1.38% to currently trade at Rs 257.95 on the BSE.

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Net profit of JTL Industries rose 47.22% to Rs 30.18 crore in the quarter ended December 2023 as against Rs 20.50 crore during the previous quarter ended December 2022. Sales rose 65.26% to Rs 567.39 crore in the quarter ended December 2023 as against Rs 343.33 crore during the previous quarter ended December 2022.

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The Board of JTL Industries at its meeting held on 12 January 2024 has accepted the resignation of Dhruv Singla as Chief Financial Officer of the company with effect from 12 January 2024. The Board has appointed . Atul Garg as the Chief Financial Officer (Key Managerial Personnel u/s 203 of the Companies Act, 2013) of the Company w.e.f. close of business hours of 12 January 2024.

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JTL Industries will hold a meeting of the Board of Directors of the Company on 12 January 2024.

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This surge in sales volume can be attributed to robust demand for JTL's structural steel tubes and pipes, widely used in the infrastructure and industrial sectors, both domestically and internationally.

In the value-added products segment, the company achieved a sales volume of 19,789 MT for Q3 FY24, reflecting a substantial 35.39% increase compared to the 14,616 MT recorded during Q3 FY23.

For the cumulative nine months of FY24, JTL reported a total sales volume of 2,59,933 MT, marking an impressive 62.32% YoY growth. Additionally, the sales volume for value-added products reached 80,497 MT, indicating a substantial 46.79% YoY increase.

During Q3 FY24, JTL, through its wholly-owned subsidiary JTL Tubes, initiated a groundbreaking mega capacity augmentation project in Maharashtra. This ambitious project aims to enhance the company's manufacturing capacity, facilitating both expansion and diversification of its product portfolio.

The capital expenditure includes the incorporation of additional production lines, an increase in the capability to manufacture galvanized, pre-galvanized, and color-coated products, and strengthening competitiveness through both forward and backward integration.

To fund this ambitious venture, JTL plans to raise Rs 1,310 crore through various channels, including a qualified institutional placement (QIP). The total fundraise includes a contribution of Rs 540 crore from the promoter and promoter group, Rs 270 crore from the public and non-promoter group, and the remaining Rs 500 crore through the QIP route.

JTL Industries is one of the fastest-growing steel tube manufacturers, with manufacturing facilities in Punjab, Maharashtra, and Chhattisgarh. The company's cumulative capacity is 6,86,000 MTPA, offering a diverse product range including GI pipes, MS Black pipes, hollow sections, and solar structures, catering to various industrial and infrastructural applications.

The company had reported 33.5% rise in consolidated net profit to Rs 29.82 crore on a 37.2% increase in revenue from operations to Rs 502.10 crore in Q2 FY24 as compared with Q2 FY23.

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For this purpose, the company will raise Rs 1,310 crore through various routes, including but not limited to qualified institutional placement (QIP). This infusion of funds will be orchestrated from both promoter and non-promoter groups.

Of the overall fundraising, the promoter and promoter group is committed to contributing Rs 540 crore, while the public, non-promoter group will play a pivotal role with the contribution of Rs 270 crore. The remaining Rs 500 crore will be garnered through the QIP route.

Commenting on the development, the management team of JTL stated: “We are thrilled to announce our strategic decision to establish a mega capacity expansion project in Maharashtra through our subsidiary, JTL Tubes Limited, with a substantial capex outlay.

This state-of-the-art facility will harness cutting-edge technology to enhance efficiency and diversify our product portfolio, underscoring our dedication to propelling the growth and advancement of our business.

JTL Industries is amongst the fastest growing steel tube manufacturers. The company has manufacturing facilities in Punjab, Maharashtra, and Chhattisgarh with a cumulative capacity of 5,86,000 MTPA. Its product offering includes GI pipes, MS black pipes, hollow-sections, and solar structures amongst others which cater to diverse industrial and infrastructural applications.

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