Metal Stock To Mull Bonus Shares This Week After 15 Days of Listing

JTL Industries Ltd is a small cap company that deals in the metal sector. The largest maker of Electric Resistance Welded (ERW) steel pipes, as well as one of the largest section pipe & tube manufacturers in India, is JTL Industries Limited. JTL Industries' shares were listed on the National Stock Exchange (NSE) on June 12th, 2023, at Rs. 345 per share. JTL Industries said that it had submitted an application to list its equity shares on the NSE in a regulatory filing on June 9. On July 31, 2012, the firm had already gone public on the BSE.

"We are pleased to intimate you that the company has received approval for listing and trading of its entire 8,44,42,092 equity shares of face value of Rs 2 each with the NSE Symbol as JTLIND w.e.f. June 12, 2023," the company said in a regulatory filing.
The company said in a regulatory filing on Tuesday that "A Meeting of the Board of Directors of the Company will be held on Saturday, the 29th day of July, 2023, inter-alia to consider to approve issuance of fully paid bonus equity shares to the members of the Company subject to such regulatory/ statutory approvals as may be required, including the approval of the shareholders of the Company and other allied activities."

On its Board meeting date, the company will also declare unaudited financial results for first quarter ended 30th June, 2023.
The firm recorded outstanding performance during the quarter that ended in March 2023, with a net profit that jumped by 93.50% to Rs 36.65 crore from Rs 18.94 crore in the same period the previous year.

Revenue from operations for the firm grew by 13.50% to Rs 472.62 crore in Q4 FY23 from Rs 416.38 crore in Q4 FY22. JTL Industries announced that its net profit for the fiscal year that ended on March 31, 2023, grew by 48% to Rs 90.12 crore. In the prior fiscal year, the firm had generated a net profit of Rs 61.06 crore. During 12MFY23, revenue from operations rose by over 14% to Rs 1,548.4 crore.

The shares of JTL Industries opened today on the BSE at Rs 344.70 apiece and clocked an intraday high of Rs 351.45 during the afternoon deals. The stock made a 52-week-high of Rs 372.70 on (18/01/2023) and a 52-week-low of Rs 185.70 on (16/09/2022), indicating that at the current market price of Rs 345.10 the stock is trading 7.40% below the 1 year high and 85.84% above the 1 year low.

During Q4FY23, the company reported promoter stake of 56.26% and public stake of 43.74%.