The acquisition granted JTL the ownership of an advanced steel product manufacturing facility, which has a manufacturing capacity of 200,000 tonnes. The facility produces steel products such as coils and long steel products such as billets
Apr 9, 2024
JTL Industries, has acquired a 67 percent controlling stake in Nabha Steels and Metals, located in Mandi Gobindgarh region of Punjab. This acquisition will make the raw material HRC available at the convenience of their Mandi Gobindgarh Plant.
As per a statement issued by the company, the acquisition has granted JTL the ownership of an advanced steel product manufacturing facility, which has a manufacturing capacity of 200,000 tonnes, and focuses on producing steel products such as coils and long steel products such as billets.
This acquisition will increase JTL’s total backward integration capacity from 150,000 tonnes of coils (previously concentrated solely from the Raipur plant) to 250,000 tonnes of coils and 100,000 tonnes of long products, with backward integrated operations now spanning across Chhattisgarh and Punjab, added the statement.
Nabha Steels and Metals has showcased tremendous revenue growth, increasing from INR 113 crore in FY23 to INR 225 crore in FY24.
Expressing his happiness over the development, Mr. Pranav Singla, Executive Director of JTL Industries Limited, said that this acquisition will make our raw material HRC available at the convenience of our Mandi Gobindgarh Plant.
He said Nabha Steels and Metals has been operational for the past two years and is close to our existing Mandi Gobindgarh Plant. The plant currently manufactures HRC and other steel long products with a total capacity of 2 lakh MT.
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JTL Industries Limited’s combined capacity is 6 lakh MT for pipes, 2.5 lakh MT of HRC, and 1 lakh MT for Long Products, he added.
JTL Industries Limited is a fast-growing dynamic steel tube manufacturing company that specializes in producing black steel pipes, pre-galvanized and galvanized steel pipes, large-diameter steel tubes and pipes, and hollow structures.
The acquisition will result in backward integration, an enhanced product portfolio of JTL Industries, synergies & increased profitability, and the company becoming a one-stop solution for the industry.
