1,800 per cent returns: This multibagger small-cap company records highest ever quarterly sales volume of 56.78 per cent after bonus issue of shares!
The stock gave multibagger returns of 150 per cent in 2 years and a whopping 1,800 per cent in 3 years.
JTL Industries Limited manufactures steel products. The company offers electric resistance welded steel pipes, tubes, hollow sections, and structural steel products. JTL Industries serves customers worldwide. The company's product offerings include Electric Resistance Welding (ERW) pipes, galvanized pipes, solar structures, etc. The company has a market cap of over Rs 3,700 crore.
JTL Industries Ltd informed that the company has recorded its highest-ever quarterly sales volume of 81,686 MT, exhibiting a vigorous growth of 56.78 per cent in Q2FY24 over Q2FY23 driven by robust demand for structural steel tubes and pipes in both domestic and international markets.
The company achieved a significant milestone with its highest-ever H1 sales volume reaching an unprecedented 1,59,028 MT, demonstrating a robust growth of 54.66 per cent compared to H1FY23. JTL witnessed a remarkable increase in sales of value-added products, with a substantial 50.93 per cent growth, rising from 40,221 MT in H1FY23 to 60,708 MT in H1FY24.
JTL's sales of value-added products reached a healthy 28,202 MT in Q2FY24, up 14.63 per cent year-over-year (YoY) from 24,601 MT in Q2FY23. This is a remarkable achievement, as it shows that JTL's value-added products are in high demand.
JTL also reported healthy export sales of 4,393 MT in Q2 FY24, up 14.49 per cent YoY from 3,837 MT in Q2 FY23. Exports accounted for approximately 5.38 per cent of JTL's total sales volume in Q2FY24.
Earlier, the company made an allotment of 8,48,52,092 fully paid-up bonus equity shares of Rs 2 each in the ratio 1:1, i.e., 1 equity share of Rs 1 each for every 1 Equity Share of Rs 2 each held by the shareholders of the company as on the record date (September 07, 2023).
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On Tuesday, shares of JTL Industries Ltd 3.32 per cent to Rs 222.75 per share from its previous closing of Rs 230.40. The stock’s intraday high of Rs 233 and an intraday low of Rs 221.05.
The stock has an ROE of 30 per cent and an ROCE of 34.6 per cent.
Quarterly Results: The net sales increased by 37.16 per cent to Rs 504.80 crore and net profit increased by 110.12 per cent to Rs 25.37 crore in Q1FY24 over Q1FY23.
The stock gave multibagger returns of 150 per cent in 2 years and a whopping 1,800 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.