JTL Industries Ltd Share Price – NSE  / BSE

Steel, Small Cap

The growth in sales volume was driven by robust demand and improved capacity utilization.

The company recorded export sales of 11,785 MT in Q4 FY26, compared to 6,841 MT in Q4 FY25 and 9,592 MT in Q3 FY26, registering a sharp 72.2% YoY and 22.9% QoQ growth, with exports contributing 10.6% to total sales, up from 5.8% in Q4 FY25.

On an annual basis, the company?s sales volume stood at 3,95,900 metric tonnes (MT) in FY26, up 14.5% YoY compared with 345,690 MT in FY25, supported by capacity ramp-up and strong demand across segments.

Madan Mohan, managing director of JTL Industries said, ?We have delivered a record sales volume performance in Q4 FY26, as our expansion of the Mangaon facility has started to yield results. A key contributor to this sales volume growth at the facility has been the ramp-up in our value-added products portfolio and robust capacity utilization, along with higher export volumes during the quarter. The share of exports stood at 10.4% of total sales in FY26, reflecting a strong improvement in our international presence, while domestic markets continued to contribute the balance.

The DFT product has seen significant traction in the market, with encouraging demand through our well-established dealer base and from long-standing customers. Our ability to scale up DFT pipes efficiently has enabled us to respond quickly to rising market demand for the product while maintaining operational efficiency. The new DFT product portfolio has not only enhanced our market presence but also added depth to our product offerings in the structural steel segment.?

JTL Industries is engaged in manufacturing of steel tubes. Its product range includes DFT structural pipes, GI pipes, MS black pipes, hollow sections, solar structures, HR coils and phosphorous bronze, copper and brass alloys, among others, which cater to various industrial and infrastructural applications. The company operates manufacturing facilities in Punjab, Maharashtra, Chhattisgarh and Himachal Pradesh (including its subsidiaries).

The company?s consolidated net profit increased 5.49% to Rs 26.31 crore on 4.19% jump in revenue from operations to Rs 470.51 crore in Q3 FY26 over Q3 FY25.

Profit before tax dropped 1.9% year-on-year (YoY) to Rs 33.05 crore during the quarter under review.

EBITDA jumped 9.91% to Rs 386.12 crore in Q3 FY26 as compared with Rs 351.29 crore in Q3 FY25. EBITDA margin improved 8.21% in Q3 FY26 as against 7.78% in Q3 FY25.

Sales volume increased by 3.1% YoY to 90,429 MT compared to 87,714 MT in Q3 FY25. Notably, value-added products contributed a significant share of 23% to the total sales mix, driven by strong demand across key markets.

?The Mangaon plant currently has a total installed capacity of 450,000 MTPA, including 250,000 MTPA with Direct Forming Technology (DFT). It will also serve as the manufacturing unit for an additional 300,000 MTPA of ARW/API-grade ERW pipes, which are expected to be commissioned within a year. Further, the company plans to add 400,000 MTPA of GI coil capacity, enhancing its pre-galvanized product range, with commissioning expected by Q4 FY26. In addition, JTL is adding 600,000 MTPA of color-coated coil capacity, which will enhance its color-coated product range by H1 FY27,? the company said in an exchange filing.

The demand for structural steel tubes is driven by government commitments to bolster infrastructure in sectors such as construction, oil & gas, water supply, and agriculture. The Indian warehousing sector is projected to experience significant growth, with demand expected to reach approximately 1.2 billion square feet by 2027.

JTL Industries 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. Its product offering includes GI pipes, MS black pipes, hollow sections, and solar structures, which cater to diverse industrial and infrastructural applications.

Shares of JTL Industries fell 1.89% to Rs 74.75 on the BSE.

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Net profit of JTL Industries rose 5.53% to Rs 26.32 crore in the quarter ended December 2025 as against Rs 24.94 crore during the previous quarter ended December 2024. Sales rose 4.19% to Rs 470.52 crore in the quarter ended December 2025 as against Rs 451.58 crore during the previous quarter ended December 2024.

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JTL Industries will hold a meeting of the Board of Directors of the Company on 24 January 2026.

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