Steel Tube Manufacturer Stock To Be Keep Under Radar As Company Records Highest Sales Volume of 1,03,193 MT & Board Likely To Announce Bonus Shares & Stock Split Tomorrow
The stock gave multibagger returns of 2,750 per cent in 5 years and a whopping 4,100 per cent in a decade.
JTL Industries Limited, a leading steel tube manufacturer, has announced its Q2FY25 business performance. The company recorded a remarkable 26.32 per cent growth in sales volume compared to the previous year, reaching an all-time high of 1,03,193 metric tons. This achievement was driven by a strong demand for heavy structures and the successful integration of Nabha Steels and Metals.
In the first half of FY25, JTL's total sales volume reached an impressive 1,99,593 metric tons, representing a 25.49 per cent increase over the same period last year. This growth is a testament to the company's expanding market share and operational capacity. Furthermore, export sales witnessed a substantial surge of 104.74 per cent, reaching 18,219 metric tons in H1FY25. This contributed to approximately 9.13 per cent of the total sales volume during this period.
Additionally, JTL Industries Limited has announced that its Board of Directors meeting is scheduled for Thursday, October 3, 2024. The agenda includes several key proposals: 1. Sub-division or stock split of equity shares with a face value of Rs 2 each. Issuance of bonus shares to existing equity shareholders. Increase in the authorized share capital of the company.
Earlier, the company entered into an Investor Relations Support Service Agreement on September 24, 2024, with Ernst & Young LLP. This agreement is to provide comprehensive investor relations services to enhance the Company's standing in the capital market. The key details of this agreement, as per Regulation 30 of the Listing Regulations, are as follows: 1. Parties: Ernst & Young LLP. 2. Purpose: To provide general investor relations services to support the Company's positioning in the capital market.
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About the Company
JTL Industries Limited is amongst the fastest-growing steel tube manufacturers and its registered office is in Chandigarh. The company has manufacturing facilities in Punjab, Maharashtra and Chhattisgarh. The cumulative capacity of the company is 5,86,000 MTPA for Steel Pipes and ~3,00,000 MTPA is backward integration. The company is a recognized Star Export House and its product offering includes GI Pipes, MS Black Pipes, hollow sections and Solar Structures, which cater to diverse industrial and infrastructural applications.
JTL Industries, a manufacturer of steel tubes, reported solid financial results for Q1FY25. Revenue grew to Rs 515.38 crore from Rs 504.80 crore in the same period last year, reflecting a 2.10 per cent increase. This growth was driven by factors like strategic market expansion, increased product demand and higher sales volumes. JTL's profitability also improved in Q1FY25. Net profit also grew by 21.0 per cent to Rs 30.70 crore.
On Tuesday, shares of JTL Industries Ltd surged 2.90 per cent to an intraday high of Rs 240.90 per share from its previous closing of Rs 234.10. The stock’s 52-week high is Rs 276.60 per share while its 52-week low is Rs 167.10 per share. The stock gave multibagger returns of 2,750 per cent in 5 years and a whopping 4,100 per cent in a decade. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.