JTL Industries has hit two major milestones with investors cheering – becoming debt-free and gearing up to commission new state-of-the-art manufacturing capabilities.
The small-cap metal company’s stock rose 0.85% to close at Rs 261.55 per share on Saturday. The boost came after JTL announced it had paid off Rs 360 million of its term debt, freeing the company of term and net debt.
This financial win comes alongside an operational achievement. JTL will commission its much-anticipated Direct Forming Technology (DFT) machines within the next few months. The company expects its new DFT plant to start commercial production by Q1 of fiscal year 2025.
The DFT facility represents a game-changer for JTL. With this leading-edge technology, JTL can manufacture larger diameter pipes and add over 300 new value-added products to meet customer demand.
JTL’s management expressed excitement and gratitude about these milestones in a statement. They thanked employees, customers, and stakeholders for helping JTL reach this pivotal moment.
The management emphasized JTL’s commitments to innovation, operational excellence, and value creation as it embarks on this new chapter of expansion. They said becoming debt-free strengthens JTL’s financial footing, while the DFT plant enhances production capabilities – positioning the company to capitalize on growth opportunities.
From its beginnings focused on steel tubes and pipes, JTL Industries has rapidly transformed into a dynamic player in the metal industry. The latest achievements underscore the company’s momentum and capabilities as it pursues new avenues of growth.
