New Delhi, JTL Industries on Tuesday said it has acquired controlling stake in Nabha Steels and Metals for an undisclosed amount.
The acquired plant at Mandi Gobindgarh, Punjab has an annual production capacity of 2 lakh tonnes. JTL Industries said in a regulatory filing that it produces steel products such as coils and billets.
The company said it has acquired 67 percent stake in Nabha Steels and Metals.
It said the acquisition will increase JTL's total backward integration capacity from 1. lakh tonne coils to 2.5 lakh tonne coils and 1 lakh tonne loan product.
"Nabha Steels & Metals has shown tremendous revenue growth from Rs 113 crore in FY23 to Rs 225 crore in FY24," the company said without sharing financial details of the deal.
JTL Industries is an electric resistance welded steel pipe manufacturer with a production capacity of over 6 lakh tonnes per annum.
The acquired plant at Mandi Gobindgarh, Punjab has an annual production capacity of 2 lakh tonnes. JTL Industries said in a regulatory filing that it produces steel products such as coils and billets.
The company said it has acquired 67 percent stake in Nabha Steels and Metals.
It said the acquisition will increase JTL's total backward integration capacity from 1. lakh tonne coils to 2.5 lakh tonne coils and 1 lakh tonne loan product.
"Nabha Steels & Metals has shown tremendous revenue growth from Rs 113 crore in FY23 to Rs 225 crore in FY24," the company said without sharing financial details of the deal.
JTL Industries is an electric resistance welded steel pipe manufacturer with a production capacity of over 6 lakh tonnes per annum.
