Steel · JTLIND
Steel - Tubes/Pipes
from 78 today
JTL Industries reported record quarterly revenue and EBITDA in 1QFY27, driven by strong sales volumes and higher VAP share. We maintain our BUY rating with a revised target price of INR 131 based on 16x 1HFY29E earnings plus JTL Defence market capitalization.
We initiate coverage on JTLIND on the back of robust sales volume CAGR, increase in % share of VAP resulting in higher EBITDA/t, and expansion in RoE/RoCE.
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