Jai Balaji Industries Ltd. has reported a 24 per cent year-on-year decline in profit for Q2 FY25, with profit falling to ₹201.6 crore from ₹153.2 crore. Along with this, stock split has also been announced by the company.
The company’s chairman and managing director Aditya Jajodia said the decline was mainly due to deferred tax provision of ₹60 crore. Revenue from operations grew marginally by 0.6% at ₹1,556.6 crore as against ₹1,546.6 crore in the same quarter last year, reflecting stable demand in the company’s core markets.
Working profit or earnings before EBITDA increased by 7% to ₹228.3 crore from ₹213.4 crore, leading to improvement in EBITDA margin to 14.7%, up from 13.8% last year.
To increase liquidity, the board has proposed a stock split, in which each share of ₹10 will be divided into five tranches of ₹2. The chairman of the company said that this step has been taken with the aim of making our shares accessible to more investors. He also reiterated that Jai Balaji is committed to its ongoing ₹1,000 crore capital expenditure plan to expand capacity in core areas such as Ductile Iron Pipes and Ferroalloys and thereby support the company’s expansion targets and value-added product categories. Will get support.
With major facilities in West Bengal and Chhattisgarh, Jai Balaji remains a major player in India’s private steel sector.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.