JTL Industries Ltd (JTLIND) Q2FY27 Concall Transcript - Sep-2026 Qtr
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Moderator: Ladies and gentlemen, you've been connected to JTL Industries Limited Q2 FY27 results conference call. Please stay connected, the call will begin shortly. Ladies and gentlemen, you've been connected to JTL Industries Limited Q2 FY27 results conference call. Please stay connected, the call will begin shortly.
Moderator: Ladies and gentlemen, good day, and welcome to the JTL Industries Limited Q2 FY '27 results earnings conference call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Pallav Agarwal from Antique Stock Broking Limited. Thank you, and over to you, sir.
Pallav Agarwal (Antique Stock Broking Limited): Yeah. Thank you, Shruti, and good day everyone. A very warm welcome to the second quarter FY '27 earnings call of JTL Industries Limited. We have the senior management team of the company, represented by Mr. Dhruv Singla - the Executive Director; Mr. Pranav Singla - the Executive Director; Mr. Naveen Kumar Ladhoia - the Chief Financial Officer; and Mr. Saurabh Jain - the CFO
Pallav Agarwal (Antique Stock Broking Limited): JTL Tubes Limited, which is a subsidiary of JTL Industries Limited. So now, I would like to hand over the call to the management team. Over to you, Mr. Loria.
Navin Loria (JTL Industries Ltd): Good afternoon, everyone. This is Navin Loria, and thank you for joining the earnings conference call of JTL Industries Limited to discuss the performance for Q2 and H1 of FY '27. We appreciate your continued support and interest in our company. The company continued to deliver growth during the quarter with revenue from operations increasing by 43.0% year-on-year to 613.8 crores. EBITDA grew by 46.5% to 50.8 crores, with an EBITDA margin of 8.3% compared to 8.1% in Q2 FY '26. Profit after tax for the quarter was 29 crores, reflecting growth of 30.7% year-on-year with a PAT margin of 4.7%. The company reported sales volume of 1 100,484 metric tons during Q2 FY '27, registering a growth of 23.2% year-on-year. EBITDA per ton improved to INR 5,053, an increase of 19% year-on-year supported by a higher contribution from value-added products and an improved product mix. Coming to the half year performance, the company achieved its highest-ever half-year sales volume of 218,997 metric tons, reflecting growth of 20.2% year-on-year. Revenue from operations increased by 37.2% to 1,335.4 crores. The company also achieved its highest-ever half-yearly EBITDA and PAT during H1 FY '27. EBITDA increased by 88.7% year-on-year to 109.5 crores, with a margin of 8.2%. EBITDA per ton improved to INR 5,000, registering growth of 57.0% year-on-year. Profit after tax grew by 66.2% to 30 to 64.3 crores, with a margin of 4.8%. It is important to highlight that the reported PAT for Q2 and H1 FY '27 includes an additional non-cash depreciation charge of 2.78 crores arising from the asset revaluation undertaken at JTL Tubes Limited in March 2026. Excluding this accounting adjustment, the normalized PAT for Q2 FY '27 would have been 31.8 crore rupees, while normalized PAT for H1 FY '27 would have been 67.1 crores. On the cash flow front, net cash flow from operating activities turned positive at 50 crore rupees in H1 FY '27 compared with an outflow of 80.3 crore rupees in the corresponding period last year. The company invested 76.5 crores towards capital expenditure to support its ongoing capacity expansion plans during the H1 ended 30/9/2026. On a standalone basis, an investment of INR 67 crores has been made during the H1 mostly at the company's Mangaon subsidiary. Looking ahead, the company remains focused on bringing the upcoming capacities in Maharashtra on stream and gradually ramping up production with a greater emphasis on value-added products such as GP pipes, color-coated pipes and roofing sheets. With this, I would now request the moderator to open the floor for questions and answers. Thank you, everyone.
Moderator: Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touchtone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the line of Harsh Vasa from SBI Capital Securities. Please proceed.
Harsh Vasa (SBI Capital Securities): Thank you for the opportunity and congratulations on a good set of numbers. So my first question was regarding the new capacities just coming up. So the GI coil capacity, which was expected to commission in August '26, so has it been commissioned? And and the color-coated capacity of 4 lakh, which is expected to commission in December '26, so is it on track?
Dhruv Singla (JTL Industries Ltd): Yeah. So the GP capacity right now has
Dhruv Singla (JTL Industries Ltd): Will be, we have run the cold trial for the pickling and the GP line, and it will be up and running by the end of this quarter. There have been certain delays due to the little bit of monsoons and due to a little delay in getting the electrical connection. So, we are expected to get on with the commercial production by the end of this quarter.
Harsh Vasa (SBI Capital Securities): Okay, sure sir. Any capacity utilization numbers like for these two facilities, for this year like any volumes ballpark figure?
Dhruv Singla (JTL Industries Ltd): So, in the last quarter of the year, we we would be getting a volume of about 25,000 tonnes to 30,000 tonnes from these capacities when they are up and running by end of December.
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