In terms of quarterly performance, Jai Balaji made a profit of Rs 272.98 crore in the March quarter, compared to a loss of Rs 13.08 crore in the same period last year. To Rs 1,845.60 crore, the quarter’s sales rose 7.05 percent year-over-year.
Jai Balaji share: There are many such stocks in the stock market which have given shocking returns to investors in less than a year. One such share is Jai Balaji Industries. A year ago, this share was priced at Rs 55, but it has now reached Rs 1000. At present, the share price is Rs 1089.65. Meanwhile, in February 2024, the share price had reached the level of Rs 1,307. The company’s March quarter results have now been made public. There has been a significant jump in the company’s profit during this quarter.
During the last financial year, the net profit of small-cap company Jai Balaji Industries increased by 1421%. With this the organization’s benefit arrived at Rs 879.57 crore. At the same time, the company made Rs 6,413.78 crore in gross sales, which was its highest ever. This is 4.71% more on annual basis. In terms of quarterly performance, Jai Balaji made a profit of Rs 272.98 crore in the March quarter, compared to a loss of Rs 13.08 crore in the same period last year. Sales during the quarter increased by 7.05% year-on-year to Rs 1,845.60 crore.
Jai Balaji Industries MD Aditya Jajodia said- The company has achieved an impressive Ebitda of Rs 1121 crore. We are focusing on increasing our share in value added products which will further improve margins. Our focus is on specialty products such as DI Pipes and special-grade ferroalloys. These currently contribute about 50% of our revenue. He further said that the company is aiming to become debt free within the next 15 months.
Jai Balaji’s debts have decreased over the past few years, as stated by brokerage Yes Securities. Net debt was Rs 3,407.9 crore in FY 2021, which is now Rs 566.5 crore. The company aims to become a net cash company in the next 12-15 months.
