JTL Industries enters into agreement with Ernst & Young LLP, to consider stock split - Details

JTL Industries has informed exchanges that it has entered into an agreement with Ernst & Young LLP for Investor Relations Support Services. 
 
The company said that the agreement, which was signed on September 24, 2024, aims to enhance JTL Industries’ positioning in the capital market. It will provide general investor relations services to support the company’s positioning in the capital market.

Meanwhile, the company has informed exchanges that its board will meet soon to consider the sub-division of equity shares along with to bonus issue.

According to the available information, the board meeting is scheduled for October 3, 2024.

The company has yet to fix the record date for the said corporate action.

This is the second time the company will undertake a stock split and issue bonus shares to its shareholders.

Earlier, the company announced that it has completed Phase 1 of expansion at its recently acquired subsidiary, Nabha Steels and Metals. 

According to the company, phase 1 of expansion is completed and its subsidiary 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.

The second expansion phase is expected to commence shortly and will scale up the production output further by 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," the company said.

JTL Industries Limited has manufacturing facilities in Punjab, Maharashtra, and Chhattisgarh. The cumulative capacity of the company is 7,50,000 MTPA.