In an interview with CNBC-TV18, Aditya Jajodia, Chairman of Jai Balaji Industries said that the major capital expenditure has been completed, and part of it will become operational in September.
Jai Balaji Industries is looking at a production capacity of around 4-4.5 lakh tonne for ductile iron (DI) pipes and in ferro alloys expecting a volume of around 1.5 lakh tonne by the end of financial year 2025 (FY25).
In an interview with CNBC-TV18, Aditya Jajodia, Chairman of Jai Balaji, mentioned that the major capital expenditure has been completed, and part of it will become operational in September. This will allow six months of clear production.
The company plans to double its volume of ferro alloys in FY24 and nearly double the volume of DI Pipes, aiming for 4.5 lakh tonnes this year compared to 2.39 lakh tonnes previously.
When asked about the promoter stake, Jajodia said that the promoter stake will go up to 64% after the warrant conversion, which has already taken place.
“The company is out of the woods, doing well, expansion is going on and about to be debt-free,” he added.
Jai Balaji Industries is one of the largest manufacturers of value-added products, such as ductile iron (DI) pipes and specialised ferro alloys, in the private sector in Eastern India. The company operates four manufacturing units located in West Bengal and Chhattisgarh. Its specialised product portfolio includes DI pipes and ferro alloys. Additionally, it has fully operational power plants with a total capacity of 101.1 megawatts (MW).
In Q1 FY25, the company reported a 16% increase in revenue from operations, reaching ₹1,718 crore compared to ₹1,483 crore in Q1 FY24. The operating profit surged by 54% to ₹316 crore from ₹206 crore. Other expenses rose by 18%, amounting to ₹313 crore compared to ₹265 crore.
The Profit After Tax (PAT) increased by 23%, totalling ₹209 crore compared to ₹170 crore. Other income saw a 22% rise, reaching ₹9.5 crore compared to ₹7.8 crore, while finance costs decreased by 26% to ₹15.77 crore from ₹21.2 crore.
The market capitalisation of Jai Balaji Industries is around ₹15,886.98 crore. Its shares have gained close to 487% in the past year.
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