JTL Industries FY24 Business Update:
The company is clearly winning the battle in the steel tube and pipes category.
JTL Industries grew sales volumes by 42.5% YOY in FY24.
This is a far better show than the likes of APL Apollo that grew sales volumes by 15% YOY and Hi-Tech Pipes that grew sales volumes by 10% YOY.
The CAPEX plans at JTL Industries are well on track as the company is set to improve on its product mix and capture market share.
The only concern with JTL Industries is that the value-added segment grew at a slower pace (up 34% YOY) than overall volume growth (up 42.5% YOY).
The company never had any issues on the fundamental side and has kept performing much better than its peers.
JTL Management had guided to grow volumes by 35-40% CAGR for the next few years so this volume growth number of 42.5% is at par with what the management had guided in the past.
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