JTL Industries Ltd records highest ever quarterly sales volume in Q3 FY23

JTL Industries Ltd (JTL), is a fast growing steel tube manufacturing company having manufacturing facilities at 3 locations. The installed capacity is enhanced from 4,00,000 MTPA to 4,50,000 MTPA. Further, JTL has announced an update on its business performance for the Quarter and 9M period ended 31 December 2022.

- JTL has recorded highest ever quarterly sales volume of 45,934 MT, showing a robust growth of 35% over Q3 FY22 and 13% over Q2 FY23. Further, JTL recorded a total volume of 1,20,065 MT for 9M period ended 31 December 2022.

- JTL showcased health growth in export sales and recorded a volume of 4,529 MT, showing a robust growth of 48% over Q3 FY22 and 18% over Q2 FY23. Exports sales contributed ~10% to total sales volume for Q3FY23.

- To cater to the sectoral demand, the company is in process of expanding capacities and has undertaken a capacity expansion of 100,000 MTPA at JTL's Mandi, Punjab Plant out of which the expansion is partly commissioned and the 50,000 MTPA capacity is ready for commercial production from 01st January 2023. With the said addition, the capacity of plant is increased to 150,000 MTPA. Further, the balance 50,000 MTPA will be commercialized in next quarter.

- Mode of finance of expansion: The capex was funded by internal accruals

Commenting on the above business update, the management of the company said: "We are really happy to share our business performance for the quarter ended 31stDecember 2022. This quarter recorded the highest quarterly sales of 45,934 MT and reflects of the continued patronage that we received from our domestic as well as international clients.

At JTL, our focus and passion remain on ideating and creating awareness about our advanced, newer and value-added products designed specifically to meet the client requirement and this is reflective in our overall volume growth.

Further, our continuousfocus on scaling the export business by entering into newer export markets is yielding desired results as showcased by robust growth in the export sales and consequently recording highest quarterly sales volume in the international market.

We believe that we are just at the cusp of an exciting phase in the construction and infrastructure industry, where the traditional methods are paving way for environmentally friendly structural tube led construction in India and abroad and we at JTL are rightly equipped to capitalize on the opportunities that lie ahead of us."

Source : Equity Bulls

Keywords

JTLIndustries PerformanceUpdate Business Q3FY23 9MFY23