Domestic capital goods firm GTL makes Rs 65 crore worth construction supplies

Industrial equipment maker Gujarat Toolroom on Monday said it has executed an order worth Rs 65 crore with RIL. As part of the deal, it has delivered construction supplies to RIL, Gujarat Toolroom Ltd (GTL) said in an exchange filing.

"The initial tranche of the contract amounting to Rs 290 million (Rs 29 crore) was completed last month.

"With the recent fulfilment of the Rs 650 million, GTL is poised to...Complete the remaining portions of the contract in the forthcoming quarters," the company said.

The total contract size between GTL and RIL exceeds Rs 2 billion (Rs 200 crore), it said.

The Gujarat-based company is into manufacturing and assembling of industrial machines and equipment.

Meanwhile, GTL has announced a strong sales figure of Rs 131 crores. 

Moreover, the company witnessed a surge in operating profit, reaching Rs 16 crores and a considerable increase in net profit, soaring to Rs 14 crores. 

Also, GTL has reported improvement in tax efficiency, with the tax percentage decreasing from 25 per cent to 8 per cent compared to the previous quarter.