JTL Infra Ltd commences Commercial Production at recently acquired Mandi Gobindgarh Manufacturing Facilities

JTL Infra Limited had announced that the company took over ready to use manufacturing facilities situated at Mandi Gobindgarh, Punjab from M/s. Jagan Industries Private Limited, a promoter group entity, having annual installed capacity of 1 Lac Metric Tonne on lease. This is in line with Company's well-thought-out long-term business strategy of consolidation of existing businesses and geographically diversifying and expanding its manufacturing footprint in emerging markets across India.

Commenting on the development, Mr. Dhruv Singla, CFO of the Company said "With this development, we are proceeding further towards having 5 Lacs MTPA installed capacity, across India very shortly.

Addition of these ready to use manufacturing facilities at Mandi Gobindgarh shall strengthen company's market share in Northern Region market, wherein we are targeting to double the levels of operations instantly and as such we taken over these facilities presently on lease rather than to wait for statutory approvals for assets purchase, as originally planned. Decision to take over the plant on lease shall enable JTL Infra to cater the increased demand of its products almost on immediate basis. We are expecting that with these add-on Mandi Gobindgarh facilities, revenue of the Company shall be increased by approx. Rs. 200 Crores on annual basis and 'll result in strong balance sheet going forward.

He further added that we have already completed the first phase of company's state of the art greenfield project at Mangaon, Maharashtra having installed capacity of 1 Lacs Metric Tonne and commissioning of second phase with another 1 Lacs Metric Tonne installed capacity is in advance stage, and we are expecting this newly built greenfield plant shall have 2 Lacs Metric Tonne installed capacity by closure of the current fiscal. The plant has already started contributing in company' revenue and shall be the big contributor in Company's top-line and bottom line in next couple of years."

Shares of JTL INFRA LTD. was last trading in BSE at Rs.141.05 as compared to the previous close of Rs. 136.25. The total number of shares traded during the day was 198816 in over 230 trades.

The stock hit an intraday high of Rs. 143 and intraday low of 135.05. The net turnover during the day was Rs. 28007268.

Source : Equity Bulls

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