JTL Industries said that the company has repaid the outstanding term debt of approximately Rs 36 crore and has become a term and net debt-free company.
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.
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