Record Date Announced For Stock Split From Rs 2 to Re 1: Multibagger Steel Tube Manufacturer Stock With 3,500 Per Cent Returns To Keep Under Radar
The stock gave multibagger returns of 2,100 per cent in 5 years and a whopping 3,500 per cent in a decade.
The Board of Directors of JTL Industries Ltd discussed and approved the sub-division of each existing Equity Share with a face value of Rs 2 into two equity shares with a face value of Re 1 each. This change is contingent upon shareholder approval, which will be sought at an upcoming extraordinary general meeting. The record date for this sub-division is fixed as Friday, November 15, 2024.
The company has reported a strong financial performance for the second quarter of fiscal year 2025. The company achieved 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 growth was fueled by robust 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, reflecting a 25.49 per cent increase over the same period last year. Additionally, export sales surged by 104.74 per cent, contributing to approximately 9.13 per cent of the total sales volume during this period.
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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.
The stock gave multibagger returns of 2,100 per cent in 5 years and a whopping 3,500 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.