JTL Industries Ltd Share Price – NSE  /  BSE

Steel, Small Cap

Nabha Steels and Metals is engaged in the manufacturing of Steel Products such as coils and long steel products such as billets having a manufacturing capacity of 2,00,000 tonnes. The company’s provisional turnover for FY24 is Rs 225.27 crore.

This acquisition will increase JTL's total backward integration capacity from 150,000 tonnes of coils (previously concentrated solely from the Raipur plant) to 250,000 tonnes of coils and 100,000 tonnes of long products, with backward integrated operations now spanning across Chhattisgarh and Punjab.

The said stake in Nabha Steels has been acquired by JTL for a cash consideration of Rs 70 crore.

The management team of JTL Industries stated: We are excited to share our strategic milestone of acquiring 67% controlling interest in Nabha Steels & Metals in Mandi Gobindgarh, Punjab.

By integrating this new facility into our operations, we have significantly strengthened our backward integration capabilities, doubling our capacity from 150,000 tonnes of coils to 250,000 tonnes of coils and 100,000 tonnes of long products across Raipur and Punjab.

This plant also expands our product portfolio, particularly in steel products such as coils, billets and other long products. Moreover, it allows us to explore new market segments, tapping into previously untapped opportunities and extending our reach into emerging complementary markets.”

JTL Industries is one of the fastest-growing steel tube manufacturers, with manufacturing facilities in Punjab, Maharashtra, and Chhattisgarh. The company's cumulative capacity is 6,86,000 MTPA, offering a diverse product range including GI pipes, MS Black pipes, hollow sections, and solar structures, catering to various industrial and infrastructural applications.

The company had reported 47.22% rise in consolidated net profit to Rs 30.18 crore on a 65.26% increase in revenue from operations to Rs 567.39 crore in Q3 FY24 as compared with Q3 FY23.

The scrip rose 0.55% to currently trade at Rs 217.45 on the BSE.

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JTL Industries has strategically acquired a controlling stake of 67% in Nabha Steels and Metals, situated in Mandi Gobindgarh, Punjab. This grants JTL ownership of an advanced steel product manufacturing facility. The newly acquired plant has a manufacturing capacity of 200,000 tonnes and focuses on producing steel products such as coils and long steel products such as billets.

Nabha Steels and Metals has showcased tremendous revenue growth, increasing from ~Rs. 113 crore in FY23 to ~Rs. 225 crore in FY24.

This acquisition will increase JTL's total backward integration capacity from 150,000 tonnes of coils (previously concentrated solely from the Raipur plant) to 250,000 tonnes of coils and 100,000 tonnes of long products, with backward integrated operations now spanning across Chhattisgarh and Punjab.

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Tata Chemicals Ltd, JM Financial Ltd, Neuland Laboratories Ltd and Capri Global Capital Ltd are among the other losers in the BSE's 'A' group today, 11 March 2024.

JTL Industries Ltd crashed 20.00% to Rs 192.85 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 5.3 lakh shares were traded on the counter so far as against the average daily volumes of 86410 shares in the past one month.

Tata Chemicals Ltd tumbled 9.67% to Rs 1187.75. The stock was the second biggest loser in 'A' group.On the BSE, 8.6 lakh shares were traded on the counter so far as against the average daily volumes of 3.72 lakh shares in the past one month.

JM Financial Ltd lost 9.32% to Rs 79.74. The stock was the third biggest loser in 'A' group.On the BSE, 12.12 lakh shares were traded on the counter so far as against the average daily volumes of 6.84 lakh shares in the past one month.

Neuland Laboratories Ltd shed 7.81% to Rs 6025.85. The stock was the fourth biggest loser in 'A' group.On the BSE, 9529 shares were traded on the counter so far as against the average daily volumes of 2550 shares in the past one month.

Capri Global Capital Ltd fell 7.23% to Rs 230.2. The stock was the fifth biggest loser in 'A' group.On the BSE, 45361 shares were traded on the counter so far as against the average daily volumes of 44906 shares in the past one month.

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The company is on track with its earlier announced capex plan with the initiation of the dispatch and timely delivery of DFT machines in the upcoming weeks before closure of Q4 FY24 and commissioning of the same by Q1 FY25.

Through this commissioning of DFT plant, the company would be able to elevate plant capacity utilization.

JTL will be able to manufacture higher diameter pipes which would increase our kitty by 300+ SKUs of value added products. This strategic move is anticipated to significantly boost our EBITDA margins, reflecting our commitment to innovation and profitability,” it added.

JTL Industries is one of the fastest-growing steel tube manufacturers, with manufacturing facilities in Punjab, Maharashtra, and Chhattisgarh. The company's cumulative capacity is 6,86,000 MTPA, offering a diverse product range including GI pipes, MS Black pipes, hollow sections, and solar structures, catering to various industrial and infrastructural applications.

The company had reported 47.22% rise in consolidated net profit to Rs 30.18 crore on a 65.26% increase in revenue from operations to Rs 567.39 crore in Q3 FY24 as compared with Q3 FY23.

The scrip fell 1.38% to currently trade at Rs 257.95 on the BSE.

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