19% return in 2 days: JTL shares surge as company achieves highest-ever annual sales volume

Shares of JTL industries have been gaining for the last two days and have registered a surge of around 19 per cent in this period. The counter touched an intraday high of Rs 218 apiece on the National Stock Exchange on Tuesday i.e. on April 2. The scrip ended the session at Rs 214.50.

The surge comes as the JTL industries have shared strong business updates for the financial year 2023-24. The company said that it has achieved its highest-ever sales volume, reaching an unprecedented 341,846 MT.

"This surpasses the sales volume of the previous fiscal year, FY23, which stood at 240,316 MT, showcasing a robust growth rate of 42.25 per cent. Additionally, JTL experienced a significant rise in sales of value-added products, with a notable increase of 34.45%, climbing from 74,243 MT in FY23 to 99,818 MT in FY24," the company said in an exchange filing.

The exchange filing said The company, it said, is on track with its announced capex plan with the initiation of the dispatch and timely delivery of DFT machines and commissioning of the same by Q1FY25. Through this commissioning of DFT plant, the firm is hopeful to elevate plant capacity utilization.

The stock has given a positive return of 35 per cent in the last year and has made investors richer by 80 per cent in the last two years.