JTL Industries Ltd announces successful Phase 1 expansion at its subsidiary Nabha Steels and Metals

JTL Industries Limited ("JTL" or "The Company"), a fast-growing and dynamic steel tube manufacturing company specializing in producing ERW Black Pipes, Pre-Galvanized and Galvanized Steel Pipes, large-diameter steel tubes and pipes, and hollow sections is pleased to announce the completion of Phase 1 of expansion at its recently acquired subsidiary, Nabha Steels and Metals.

JTL is pleased to announce significant milestones in the completion of capex plans relating to its subsidiary Nabha Steels and Metals:

- Phase 1 of the expansion has been completed, and it is set to deliver a production of 5,000 metric tons per month of HR coils, the raw material for the production of ERW Steel Pipes

- Further, the second expansion phase is expected to commence shortly, scaling up the production output and adding more products to its portfolio offerings.

This expansion will enhance JTL's total backward integration capacity, support the captive requirements of our Mandi Gobindgarh Punjab plant, and aid EBITDA/Ton at this plant by Rs. 2,000 per ton range.

Commenting on the development, the management team of JTL stated: "We are excited to share our strategic milestone of completing the first expansion phase at Nabha Steels & Metals in Mandi Gobindgarh, Punjab. This expansion represents a significant milestone in our strategic plan, emphasising our dedication to strengthening our market presence and achieving sustainable growth. It signifies an essential stride in our continuous commitment to evolving into a comprehensive building materials solutions provider. The current expansion is an advanced enhancement of capabilities, considering it can produce billets from scrap metal.

Expanding this new facility into our operations has significantly strengthened our backward integration capabilities. This expanded integration enhances our operational efficiency and will help us yield better margins while upholding our steadfast dedication to quality.

This plant also expands our product portfolio, particularly steel products such as coils and billets. This diversification enhances our ability to meet the evolving needs of our clients, providing a broader range of solutions.

We are excited about the possibilities these achievements unlock for our company. With a strengthened financial foundation and enhanced manufacturing capabilities, we are wellpositioned to pursue new avenues of growth and innovation, driving sustained value creation for all our stakeholders."

Source : Equity Bulls

Keywords

JTLIndustries Phase1 Expansion Completion NabhaSteelsandMetals