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JTL Industries shares surge on strong Q1 sales growth

2 Jul 2024 , 01:25 PM

JTL Industries Ltd shares rose over 2% on Tuesday, July 2, after reporting strong sales volume growth in the June quarter of FY25.

At the time of writing, on June 2, 2024, at 1:13 pm shares of JTL Industries were trading at Rs 218.81 which is a 0.28% dip from the previous close. The stock has gained a total of 21% in the last year, and a 7% dip since the beginning of the year.

The company saw a 10.8% year-on-year increase in sales volume, reaching 85,674 metric tonnes (MT), compared to 77,342 MT in Q1 FY24.

This growth is attributed to strategic initiatives and operational excellence, driven by high demand for structural steel tubes and pipes in both domestic and international markets.

In Q1 FY25, JTL Industries recorded 21,261 MT in sales of value-added products, accounting for 25% of the total sales mix. The company achieved its highest-ever quarterly export volume, with a 31.4% increase from 4,503 MT in Q1 FY24 to 5,917 MT in Q1 FY25, contributing 6.9% to the total sales volume.

Nabha Steels and Metals, commercialized in June, achieved 10,726 MT in sales during its first phase of operations. JTL Industries acquired a controlling stake in Nabha Steels in April. The total sales for JTL Industries and Nabha Steels reached 96,400 MT. This integration is expected to improve yield, generate synergies, and boost profitability.

JTL Industries is committed to sustainable growth through strategic expansions, value-added products, and robust export opportunities, enhancing its market position. The company anticipates strong export demand for its structural pipes due to quality and reliability.

Related Tags

  • JTL Industries
  • Q1 sales
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