JTL Industries logs highest-ever quarterly sales volume at 81,686 MT in second quarter

JTL Industries, which manufactures various grades of galvanised steel tubes and pipes, has reported stellar numbers in terms of sales in the second quarter (Q2FY24), led by improvement in value-added products and exports.

The company through an exchange filing said that it has logged the highest-ever quarterly sales volume at 81,686 metric tonnes (MT) in the second quarter of the current financial year. This translates into a growth of 56.78 per cent from the second quarter of the last financial year.

The growth was driven by steady demand for structural steel tubes and pipes in both domestic and international markets, it said in a BSE filing.

The filing added that JTL Industries also achieved the highest-ever first half yearly sales volume at 1,59,028 MT in the first half of the current fiscal year (H1FY24). This shows an increase of 54 per cent in sales from the same period of the last fiscal.

"JTL witnessed an increase in sales of value-added products at 60,708 MT in H1 FY24, a 50.93 per cent growth from 40,221 MT in H1 FY23," it said.

The quarterly sales figure of the firm for the value-added products came in at 28,202 MT, up 14.63 per cent on a YoY basis.

JTL's export sales contributed 5.38 per cent of total sales volume in the second quarter. On a YoY basis, the export sales volume in the quarter increased by more than 14 per cent to 4,393 MT.

JTL Industries is a small-cap company engaged in the iron and steel industry. The company has a market capitalisation of Rs 3,780 crore. Its shares have delivered a positive return of 75 per cent in the last year. The counter has rallied 146 per cent in the last two years and more than 1,500 per cent in three years.