Mumbai : JTL Industries has strategically acquired a controlling stake of 67% in Nabha Steels and Metals, situated in Mandi Gobindgarh, Punjab. This grants JTL ownership of an advanced steel product manufacturing facility. The newly acquired plant has a manufacturing capacity of 200,000 tonnes and focuses on producing steel products such as coils and long steel products such as billets. Nabha Steels and Metals has showcased tremendous revenue growth, increasing from Rs. 113 Crores in FY23 to Rs. 225 Crores in FY24. 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.
“We are excited to share our strategic milestone of acquiring 67% controlling interest in Nabha Steels & Metals in Mandi Gobindgarh, Punjab. This acquisition represents a significant milestone in our strategic plan, emphasising our dedication to strengthening our market presence and achieving sustainable growth. It signifies an essential stride in our continuous commitment to evolving into a comprehensive building materials solutions provider. By integrating this new facility into our operations, we have significantly strengthened our backward integration capabilities, doubling our capacity from 150,000 tonnes of coils to 250,000 tonnes of coils and 100,000 tonnes of long products across Raipur and Punjab. This expanded integration not only enhances our operational efficiency but also fortifies our supply chain resilience, ensuring greater control of our raw materials and subsequent cost management efforts, which would, in turn, yield better margins while upholding our steadfast dedication to quality
the company said in a statement.