52-week high alert & FIIs increase stake: This multibagger small-cap company reports stellar quarterly results and 62 per cent jump in net profit!

The stock gave multibagger returns of 160 per cent in 2 years, 1520 per cent in 3 years and a whopping 2,250 per cent in 3 years.

JTL Industries Limited a leading manufacturer of steel products announced stellar Quarterly Results and half-yearly results. Here are the details:

Consolidated Quarterly Results: The net sales increased by 37.21 per cent to Rs 502.10 crore and net profit increased by 33.54 per cent to Rs 27.91 crore in Q2FY24 compared to Q2FY23. 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.

Consolidated Half-yearly Results: The net sales increased by 37.19 per cent to Rs 1,006.90 crore and net profit increased by 62 per cent to Rs 53.28 crore in H1FY24 compared to H1FY23. The company have achieved a record-breaking H1FY24 sales volume of 1,59,028 MT, a 54.66 per cent increase over H1FY23, driven by a 50.93 per cent growth in sales of value-added products.

Consolidated Annual Results: The net sales increased by 37.19 per cent to Rs 1,006.90 crore and net profit increased by 62 per cent to Rs 53.28 crore in H1FY24 compared to H1FY23.

In the last quarter (Q2FY24), FIIs has increased their stake from 0.72 per cent to 2.67 per cent wherein Bnp Paribas Arbitrage-Odi owns a 1.40 per cent stake in the company. Additionally, the shares ex-traded bonus shares in the ratio of 1:1 and final dividend of Rs 0.2 per share on September 07, 2023, and August 04, 2023, respectively.

On Monday, shares of JTL Industries Ltd surged 0.21 per cent to Rs 213.7 per share from its previous closing of Rs 213.25. The stock’s intraday high of Rs 217.9 and an intraday low of Rs 209.

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 4,000 crore. The stock has an ROE of 30.1 per cent and an ROCE of 34.6 per cent.

The stock gave multibagger returns of 160 per cent in 2 years, 1520 per cent in 3 years and a whopping 2,250 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.