Date: November 2, 2026

Financial Results (Standalone & Consolidated)

Q2 FY27 Performance (Quarter Ended September 30, 2026):

  • Revenue from Operations: ₹6,138 Mn, up 43.0% YoY from ₹4,293 Mn in Q2 FY26
  • EBITDA: ₹508 Mn, up 46.5% YoY from ₹347 Mn in Q2 FY26
  • EBITDA Margin: 8.3% compared to 8.1% in Q2 FY26
  • PAT: ₹290 Mn, up 30.7% YoY from ₹222 Mn in Q2 FY26
  • PAT Margin: 4.7% compared to 5.2% in Q2 FY26
  • Sales Volume: 1,00,484 MT, up 23.2% YoY
  • EBITDA per tonne: ₹5,053, up 19.0% YoY

H1 FY27 Performance (Half Year Ended September 30, 2026):

  • Revenue from Operations: ₹13,354 Mn, up 37.2% YoY from ₹9,732 Mn in H1 FY26
  • EBITDA: ₹1,095 Mn, up 88.7% YoY from ₹580 Mn in H1 FY26
  • EBITDA Margin: 8.2% compared to 6.0% in H1 FY26
  • PAT: ₹643 Mn, up 66.2% YoY from ₹387 Mn in H1 FY26
  • PAT Margin: 4.8% compared to 4.0% in H1 FY26
  • Sales Volume: 2,18,997 MT, up 20.2% YoY (highest ever half-year sales volume)
  • EBITDA per tonne: ₹5,000, up 57.0% YoY

QoQ Performance (Q2 FY27 vs Q1 FY27):

  • Revenue from Operations: Decreased 14.9% from ₹7,216 Mn in Q1 FY27
  • EBITDA: Decreased 13.5% from ₹587 Mn in Q1 FY27
  • PAT: Decreased 18.1% from ₹354 Mn in Q1 FY27

Financial Adjustments:

  • Reported PAT includes ₹27.8 Mn of additional non-cash depreciation arising from March 2026 asset revaluation at JTL Defence
  • Normalized PAT (excluding this adjustment): Q2 FY27 would have been ₹318 Mn, H1 FY27 would have been ₹671 Mn

Cash Flow and Balance Sheet:

  • Net cash flow from operating activities: Positive ₹500 Mn in H1 FY27 compared to outflow of ₹803 Mn in H1 FY26 (improvement of ₹1,303 Mn)
  • Capital expenditure: ₹765 Mn invested in H1 FY27
  • Cash and cash equivalents: ₹23 Mn at September 30, 2026, down from ₹348 Mn at March 31, 2026

Management Commentary:

Mr. Madan Mohan, Managing Director, commented on the strong performance with sustained demand across key product segments and continued execution across manufacturing operations. The company is increasing contribution of value-added products supported by its established dealer network and growing presence in infrastructure, industrial and project-based applications.

Capacity Expansion:

  • Approximately 7,00,000 MT of incremental capacity expected to come on stream in Maharashtra during second half of FY27
  • New capacity will support value-added products including GP pipes, colour-coated pipes and roofing sheets
  • Expansion aims to expand product portfolio and strengthen product mix

Strategic Focus:

  • Ramping up new capacity on schedule
  • Improving utilization across manufacturing facilities
  • Increasing contribution of value-added products
  • Delivering FY27 growth objectives

Corporate Calendar & Scheduled Events

Earnings Conference Call:

  • Date: Tuesday, November 3, 2026
  • Time: 12:00 PM IST
  • Diamond Pass: Available via link
  • Universal Access Number: +91 22 6280 1342, +91 22 7115 8243
  • Toll Free Numbers: HK: 800 964 448, SG: 800 101 2045, USA: 1 866 746 2133

About the Company

JTL Industries Limited is a manufacturer of structural steel tubes and non-ferrous metal products with registered office in Chandigarh. Manufacturing facilities located in Punjab, Maharashtra, Chhattisgarh and Himachal Pradesh (including subsidiaries). Cumulative pipe manufacturing capacity approximately 9,36,000 MTPA with ~3,00,000 MTPA dedicated to backward integration. Recognized as Three Star Export House. Product range includes DFT Structural Pipes, GI Pipes, MS Black Pipes, Hollow Sections, Solar Structures, HR Coils and Phosphorous Bronze, Copper and Brass Alloys.