Iron & Steel Products company JTL Industries announced Q3FY24 results: Financial Performance: In Q3FY24, JTL Industries reported a significant increase in revenue from operations, with a growth of 65.26% to Rs 5,673.86 million compared to Rs 3,433.31 million in Q3FY23. The company's EBITDA for Q3FY24 rose to Rs 425.09 million, marking an increase of 46.35% from Rs 290.46 million in the same quarter of the previous year. Net Profit After Tax (PAT) for Q3FY24 climbed by 47.23% to Rs 301.82 million from Rs 204.99 million in Q3FY23. Sales Volume: JTL Industries achieved a record-breaking sales volume of 1,00,905 MT in Q3FY24, representing a substantial 76.05% increase over the 57,317 MT achieved in Q3FY23. The company surpassed its FY23 sales figures in just nine months of FY24. Market and Product Strategy: The sales mix of Q3FY24 included a decrease in sales of value-added products due to scheduled maintenance, affecting EBITDA margins which decreased slightly by 97 basis points from 8.46% in Q3FY23 to 7.49% in Q3FY24. Expansion and Investment: JTL Industries has plans to raise capital of Rs 13,100 million to fund a manufacturing capacity expansion in Maharashtra The promoters will contribute Rs 5,400 million, the public and non-promoter category will infuse Rs 2,700 million, and the rest through a QIP. Guidance for FY24: The management expects revenue to grow by 30-35% from FY23 to FY24. EBITDA for FY24 is anticipated to be in line with the levels seen in FY23. Result PDF
Conference Call with JTL Industries Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.