JTL Industries, a prominent steel pipes manufacturer, has reported an impressive 54.66% increase in sales, reaching 1.59 lakh tonnes (LT) for the April-September period in the current fiscal year. The company has also recorded a substantial 56.78% rise in sales volumes, totaling 81,686 tonnes for the July-September quarter. In a regulatory filing, JTL Industries attributed this remarkable surge in sales to robust demand for structural steel tubes and pipes in both domestic and international markets.
Sales Performance Highlights
For the first half of FY23, the company’s sales amounted to 1.02 lakh tonnes, with sales in the second quarter of the fiscal year reaching 52,101 tonnes, as reported in the filing. Additionally, the sales of value-added products witnessed substantial growth, increasing from 40,221 tonnes in H1 FY23 to 60,708 tonnes in H1 FY24.
Record-Breaking Quarter
A spokesperson for JTL Industries expressed pride in achieving the highest-ever quarterly sales volume in the second quarter of FY24, surpassing the corresponding period in FY23. This achievement reflects the unwavering support and patronage from both domestic and international clients. Notably, international sales experienced significant growth, increasing by 14.49% to 4,393 tonnes in Q2 FY24, compared to 3,837 tonnes in Q2 FY23.
Optimistic Outlook for the Sector
Regarding the industry’s outlook, the company’s official maintained an optimistic view, anticipating continued growth in the demand for structural steel. This growth is expected to be driven by substantial government investments in infrastructure development, as well as increased private and public capital expenditures. With the conclusion of the monsoon season, the industry anticipates the commencement of new projects, further boosting demand.
About JTL Industries
JTL Industries, formerly known as JTL Infra Ltd, holds the distinction of being the largest producer of electric resistance welded (ERW) steel pipes in India. The company boasts a robust production capacity, capable of manufacturing over 6 lakh metric tonnes per annum.
In a succinct overview, JTL Industries has recorded extraordinary revenue expansion during the current fiscal year, marked by a substantial upswing in both sales volume and the turnover from value-added product sales. The company attributes this notable achievement to robust demand for structural steel commodities in both the domestic and global markets. With an optimistic industry outlook and a commendable track record, JTL Industries finds itself admirably positioned for the sustained expansion and triumph within the realm of steel pipe manufacturing.
