2:1 Stock Split: Stock Under Rs 100 in Focus as Company Enters Into a Joint Venture Agreement with Singla Constructions Ltd to Participate Jointly in a Railway Tender
The stock gave multibagger returns of 1,800 per cent in 5 years and a whopping 3,400 per cent in a decade.
On Thursday, shares of JTL Industries Ltd gained 0.80 per cent to Rs 94.95 per share from its previous closing of Rs 94.20 per share. The stock’s 52-week high is Rs 138.30 per share while its 52-week low is Rs 83.55 per share.
JTL Industries Limited has formed a joint venture with Singla Constructions Limited to collaborate on a railway tender. The partnership aims to leverage the combined strengths of both companies to increase their chances of securing the contract. This strategic alliance is expected to enhance their competitiveness in the railway sector. The agreement does not present any potential conflicts of interest.
Additionally, JTL Industries has secured a Rs 265 crore order for supplying GMS tubes to the Jal Jeevan Mission. This win highlights JTL’s commitment to delivering high-quality products and supporting critical infrastructure projects. The Jal Jeevan Mission aims to provide FHTC to every rural household by 2030, addressing water access and quality issues. As of August 2024, nearly 78 per cent of rural households have been connected. The mission prioritizes community-led planning, sustainability, and technological solutions, empowering rural communities, especially women.
Earlier, the company's shares underwent an ex-traded stock split/sub-division, dividing each existing equity share with a face value of Rs 2 into two equity shares with a face value of Re 1 each. The ex-date for this sub-division was Thursday, November 14, 2024.
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About the Company
JTL is expanding its manufacturing capabilities across its facilities. In Mangaon, a new 300,000 MTPA capacity equipped with DFT technology will enable the production of larger hollow section pipes up to 350 * 350, increasing efficiency and overall capacity to 500,000 MTPA. In Raipur, 100,000 MTPA will be dedicated to producing ERW black pipes up to 8 inches, while the existing 100,000 MTPA will continue producing pipes up to 4 inches. In Mandi, the recent acquisition of Nabha Steels and Metals has led to the commercialization of Phase 1 expansion, which will produce 5,000 metric tons of HR coils per month. This enhancement reflects JTL’s ongoing commitment to achieving a production capacity of 1 million MTPA by the end of the year.
Talking about the financials, the company has a market cap of Rs 3,515crore. According to Quarterly Results, the company reported net sales of Rs 479.55 crore and a net profit of Rs 26.36 crore in Q2FY25 while in Q2FY24, the company reported net sales of Rs 502.10 crore and a net profit of Rs 27.91 crore. Looking at the half-yearly results, the company reported net sales of Rs 994.93 crore and a net profit of Rs 57.06 crore in H1FY25 while in H1FY24, the company reported net sales of Rs 1,006.90 crore and a net profit of Rs 53.29 crore. In its annual results, the company reported net sales of Rs 2,040.43 crore and a net profit of Rs 113.01 crore in FY24. The stock gave multibagger returns of 1,800 per cent in 5 years and a whopping 3,400 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.