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JTL Industries has bought a controlling stake in Nabha Steels and Metals for an undisclosed sum. The facility in Mandi Gobindgarh, Punjab, can produce two lakh tonnes of goods annually. According to a regulatory filing, JTL Industries manufactures steel products such as coils and billets. The business announced that it has bought a 67% share in Nabha Steels and Metals.
As a result of the acquisition, JTL would be able to integrate 1.5 lakh tonnes of coils and 1 lakh tonnes of long goods, increasing its total backward integration capacity.
"Nabha Steels and Metals has showcased tremendous revenue growth, increasing from ₹113 crore in FY23 to ₹225 crore in FY24," the company said without sharing the financial details of the deal.
JTL Industries manufactures electric resistance welded steel pipes with an annual production capacity of about 6 lakh tonnes.
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