Chandigarh-based JTL Industries, which manufacturers various grades of galvanised steel tubes and pipes, is adding 2 lakh tonne to its existing 6 lakh tonne capacity as part of the ongoing Rs 330-crore capex at two of its mills. The overall capacity expansion of 4 lakh tonne worth Rs 330 crore will be completed by FY27, which will take its total installed capacity to 10 lakh tonne, the company official told PTI here on Monday, adding the immediate enhancement of 1 lakh tonne each will come up at the Malegaon plant in Maharashtra and the Raipur mill in Chhattisgarh, which will take their overall output to 3 lakh tonne each.
This is a completely debt-free investment as the company set up in the 1990s has long been debt-free. The expansion is fully funded by the Rs 384 crore raised from the preferential warrants issue in March, Dhruv Singla, an executive director & chief financial officer, who is also the son of the managing director Madan Mohan Singla, told PTI.
The company has four mills-Malegaon, Raipur, and Mandi and Derahbasi in Punjab, with an installed capacity of 5.84 lakh tonne, of which 84,000 tonne were added in 2022-23, Pranav Singla, another executive director said.
Source : Economic times, 12/6/23
