JTL Industries Ltd Share Price – NSE  /  BSE

Steel, Small Cap

JTL Industries has allotted 1,42,18,009 equity shares of face value Rs 2 each to eligible qualified institutional buyers at the issue price of Rs 211 per equity share (including a premium of Rs 209 per equity share) which includes a discount of Rs 10.57 i.e., 4.77% of the floor price, aggregating to Rs 299.99 crore, pursuant to the issue.

Pursuant to the allotment of equity shares, the paid-up equity share capital of the Company stands increased from Rs 35,44,21,660/- consisting of 17,72,10,830 equity shares to Rs 38,28,57,678/- consisting of 19,14,28,839 equity shares of face value Rs 2 each.

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The key equity indices traded with limited losses in afternoon trade. The Nifty traded below the 24,300 level. Financial services shares declined for second consecutive trading sessions. Trading could be volatile due to weekly F&O series expiry today.

At 12:25 IST, the barometer index, the S&P BSE Sensex, was down 222.72 points or 0.28% to 79,707.74. The Nifty 50 index lost 54.05 points or 0.22% to 24,270.40.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.14% and the S&P BSE Small-Cap index gained 0.49%.

The market breadth was positive. On the BSE, 2,143 shares rose and 1,643 shares fell. A total of 137 shares were unchanged.

Buzzing Index:

The Nifty Financial Services index declined 0.66% to 23,442.50. The index shed 0.93% for two trading sessions.

Bajaj Finance (down 1.69%), Shriram Finance (down 1.68%), ICICI Bank (down 1.42%), HDFC Bank (down 1.2%) and Axis Bank (down 1.02%), SBI Cards & Payment Services (down 0.78%), SBI Life Insurance Company (down 0.73%), ICICI Prudential Life Insurance Company (down 0.26%), HDFC Life Insurance Company (down 0.19%) and Kotak Mahindra Bank (down 0.11%) declined.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.83% to 14.17. The Nifty 25 July 2024 futures were trading at 24,310, at a premium of 39.6points as compared with the spot at 24,270.40.

The Nifty option chain for the 25 July 2024 expiry showed maximum Call OI of 34.9 lakh contracts at the 25,000 strike price. Maximum Put OI of 70.2 lakh contracts were seen at 23,500 strike price.

Stocks in Spotlight:

JTL Industries rose 1.13% after the company reported a 21% increase in consolidated net profit to Rs 30.70 crore in Q1 FY25 as compared with Rs 25.37 crore in Q1 FY24. Revenue from operations jumped 2.1% YoY to Rs 515.38 crore in Q1 FY25.

Kesoram Industries shed 0.83%. The cement maker’s net loss widened to Rs 62.02 crore in Q1 FY25 as against a net loss of Rs 32.44 crore posted in Q1 FY24. Revenue from operations declined 12.01% year on year to Rs 878.91 crore in the quarter ended 30 June 2024.

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Revenue from operations jumped 2.1% YoY to Rs 515.38 crore in Q1 FY25.

Profit before tax stood at Rs 40.72 crore , up 20.12% as against s Rs 33.90 crore posted in corresponding quarter last year.

EBITDA jumped 20.8% to Rs 438.6 crore in Q1 FY25 as compared with Rs 363 crore in Q1 FY24. EBITDA margin increased by 130 bps to 8.5% in Q1 FY25 as against 7.2% in Q1 FY24, driven by the company’s strategic focus on high-margin products and increasing scale.

Sales volume increased by 10.8% YoY to 85,674 MT compared to 77,342 MT in Q1FY24. Notably, value-added products contributed 25% to the company’s total sales mix, with sales volumes of 21,261 MT.

“Looking ahead, the launch of DFT lines will bolster manufacturing capabilities, increase plant capacity utilization, and enhance production efficiency. These advancements will help to meet the growing demands of valued customers, supported by the introduction of over 300 value-added SKUs. It aims to achieve a 50% contribution from value-added products in total sales mix, driving higher turnover and improved EBITDA margins,” the company stated in exchange filing.

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.

The scrip rose 0.94% to Rs 219.55 on the BSE.

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Net profit of JTL Industries rose 21.01% to Rs 30.70 crore in the quarter ended June 2024 as against Rs 25.37 crore during the previous quarter ended June 2023. Sales rose 2.10% to Rs 515.38 crore in the quarter ended June 2024 as against Rs 504.80 crore during the previous quarter ended June 2023.

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