JTL Industries Ltd lists on NSE

Chandigarh, June 12, 2023: JTL Industries Limited (JTLIND | 534600 | INE391J01024), a leading manufacturer and exporter of various steel tubes and pipes including value-added products and commercial grade products, listed on the National Stock Exchange (NSE). Present on the occasion were: Madan Mohan Singla, Managing Director; Mithan Lal Singla, Non–Executive Director; Rakesh Garg, Executive Director; Pranav Singla, Executive Director; Dhruv Singla, Executive Director & CFO; Pavni Singla, Chief Strategy Officer; along with marquee customers, investors, well-wishers and employees.

 
JTL Industries Limited aims to increase its manufacturing capacity to 20 lakhs MTPA by FY27 from a total manufacturing capacity of 5.86 lakhs MTPA across four state-of-the-art facilities located in Punjab, Maharashtra and Chhattisgarh. The Company serves industry sectors such as Construction & Building Materials, Core Infrastructure, Energy and Engineering, Heavy Vehicles, Agriculture, Water & Gas distribution, and Solar Projects.
 

A total amount of Rs. 384 crores will be raised via preferential allotment of up to 1,28,08,350 fully convertible warrants of the face value of Rs. 2/- each. The funds raised will boost the current planned capacity expansion of the company. The amount of Rs. 98 crores out of Rs. 384 crores has already been received. The rest is expected to be received by September 2024.
 

Madan Mohan Singla, Managing Director, JTL Industries Ltd., said, “Listing on the NSE is another significant milestone in our 3-decades-old corporate journey. JTL Industries continues to move forward on our mission to grow sustainably and enhance shareholder value through the continuous support of our stakeholders. We are aiming to increase its contribution of Value-Added products to over 50% of the total sales mix over the next 2 years. We plan to deploy DFT in our plants which will facilitate the production of various sizes of hollow sections without roll change, increasing efficiency and capacity utilization and adding additional SKUs.”
 

Pranav Singla, Executive Director, JTL Industries Ltd., said, “JTL commenced commercial production of 36,000 MTPA at its Mandi plant, Punjab. The expanded capacity is dedicated towards manufacturing value-added products. The amalgamation between JTL and Chetan Industries Limited has been completed. This will aid us to become a stronger and dominant player in India by increasing our market share and penetration. This will double the number of dealers and distributors. This will enhance our manufacturing capabilities by 1,00,000 MTPA out of which 50% will be focused on producing value-added products. Now, all 4 plants have galvanizing facilities, hence the value-added product mix will further keep increasing as a trend.  This is in line with our future growth target of reaching 20 lakh MTPA capacity.”
 

Dhruv Singla, Executive Director & CFO, JTL Industries Ltd., said, “During Q4 FY23 and FY23, we at JTL Industries Ltd. recorded our highest ever quarterly and yearly sales volume that aided us in healthy revenue growth and profitability. Revenue is expected to grow by 30-35% from FY23 to FY24 led by increasing sales volume, and greater contribution of value-added products in the sales mix. EBITDA for FY24 is expected to stay within similar lines as witnessed in FY23.”