1:1 bonus share; 5:1 stock split & promoters increase stake: This multibagger iron & steel company turns net debt free and announces steps towards timely delivery of DFT line!

The stock gave multibagger returns of over 700 per cent in 3 years and a whopping 4,700 per cent in a decade.

JTL Industries Limited (JTL) is celebrating two major achievements. Firstly, they've successfully repaid all outstanding term debt, making them a net debt-free company. Secondly, their investment in new technology is on track. They'll be receiving DFT machines soon, which will be commissioned in the next quarter. This DFT technology will allow JTL to manufacture larger diameter pipes and introduce hundreds of new valuable products. By increasing its capacity and product range, JTL anticipates a significant boost in profitability, demonstrating its commitment to both innovation and financial health.

JTL Industries Ltd., established in 1991, has become a prominent Indian steel tube manufacturer with four advanced facilities, a diverse product portfolio serving various industries, and a broad reach through over 800 dealers and 20+ countries. With a skilled workforce and a commitment to innovation, JTL is well-positioned for continued growth, backed by its extensive land bank and commitment to developing pioneering products.

JTL Industries blew past all previous sales records in Q3FY24, achieving a record-breaking volume of 1,00,905 MT thanks to skyrocketing demand for steel pipes and tubes. This 76 per cent year-over-year surge extends to year-to-date performance, exceeding the entire FY23 volume in just 9 months with a 62 per cent YoY jump. To capitalize on this momentum, JTL is investing a whopping Rs 1310 crore in a mega-expansion project that will significantly boost its manufacturing capacity and diversify its offerings, solidifying its position as the undisputed leader in the structural steel market.

The shares of the company have double treated with bonus shares and stock splits. The shares of the company ex-traded stock split from Rs 10 to Rs 2 on October 13, 2021, and bonus shares ex-traded in the ratio 1:1 on September 07, 2023. Additionally, the promoters increased their stake to 56 per cent in December 2023 compared to 55.78 per cent in September 2023.

Today, shares of JTL Industries Limited plunged 1.36 per cent to Rs 258 per share from its previous closing of Rs 261.55 with an intraday high of Rs 270.95 and an intraday low of Rs 256.55. The stock’s 52-week high is Rs 276.60 and its 52-week low is Rs 142.75.

According to Quarterly Results, the net sales increased by 65.26 per cent to Rs 567.35 crore and net profit increased by 47.24 per cent to Rs 30.18 crore in Q3FY24 compared to Q3FY23. According to the nine-month results (9MFY24), the net sales increased by 46.1 per cent to Rs 1,574.3 crore and net profit increased by 56.1 per cent to Rs 83.5 crore in 9M FY24 compared to 9M FY23. The net sales increased by 15 per cent to Rs 1,547 crore and net profit increased by 48 per cent to Rs 90 crore in FY23 compared to FY22.

The stock gave multibagger returns of over 700 per cent in 3 years and a whopping 4,700 per cent in a decade. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.