Jai Balaji projects 25% growth in sales; to be debt-free in 15 months

22 Jul 2024 CW Team

Specialty steel manufacturer Jai Balaji Industries is projecting a revenue growth of at least 25% for the current financial year, driven by increased sales volumes of ductile pipes and specialised ferro-alloys, senior management disclosed. The company's revenue reached an all-time high of Rs 64.13 billion in the 2023-24 fiscal year, with operating margins at 15%. Profitability for the current year is expected to rise to 17-18%. Based in Kolkata, Jai Balaji currently generates just over half of its revenue from ductile pipes and ferro-alloys. The company aims to boost this to 80% following the completion of its capacity expansion in the medium term. Jai Balaji plans to expand its production capacity for ductile iron pipes from 300,000 tonnes to 660,000 tonnes per year by 2026. The company holds a 10% market share in the domestic ductile pipes market and targets an increase to 15-20% after the expansion. Government initiatives such as the ?Jal Jeevan Mission? and ?Mission Amrut Sarovar? are driving additional demand for these pipes. In the ferro-alloy segment, Jai Balaji is increasing capacity by 14% to 190,000 tonnes per annum in the current fiscal year, aiming for a turnover of Rs 8 billion, up more than 45% from the previous year. The ferro-alloy segment currently contributes 20-25% of the company's revenue, with plans to increase this to 30-35% by next year. Last fiscal year, Jai Balaji produced 115,000 tonnes of ferro-alloys and 242,000 tonnes of ductile pipes. The company plans to spend around Rs 3-3.5 billion on capital expenditures this year, part of a total planned expenditure of Rs 10 billion, all funded from internal accruals. Jai Balaji reduced its debt from Rs 8.71 billion in March 2023 to Rs 3.98 billion by March 2024. With a net debt to operating profit ratio of 0.4 times, the company plans to be debt-free within 15 months. Having been loss-making since at least 2013-14, Jai Balaji turned profitable in the 2021-22 fiscal year and has posted a profit for three consecutive years. (Source:ET)

Resources

04 Jun 2026

ULCCS Showcases Cooperative Model at UN Symposium

Uralungal Labour Contract Co-operative Society (ULCCS) showcased its community-led development model at the United Nations Headquarters in New York, where it participated as a panellist at the International Symposium on Cooperative Financial Institutions held on 28–29 May 2026.Jointly organised by the United Nations Department of Economic and Social Affairs (UN DESA), the International Cooperative Banking Association (ICBA), and the International Cooperative Alliance (ICA), the symposium was held under the theme ‘Fuelling Inclusive and Equitable Growth’ and brought together policymakers,..

Delhi Airport to Finalise 20-Year Master Plan

Delhi International Airport Ltd (DIAL) is finalising a 20-year master plan to guide long term infrastructure and operational development at Indira Gandhi International Airport, an official said. The operator expects the plan to reflect changes in the airline industry, shifts in the competitive landscape and evolving infrastructure requirements across terminals, airside and support services. The official said the document is likely to be ready in the next two to two-and-a-half months as the operator moves through planning stages. The plan will be prepared after consultations with airport users ..

Aadhar Housing Finance Targets Rs 500 bn AUM By FY29

Aadhar Housing Finance has set a target to raise its asset under management to Rs 500 billion (bn) by the end of FY29, aiming to achieve this over the next three financial years through an 18-20 per cent loan growth trajectory. The firm focuses on the low-income segment with a ticket size of less than Rs 1.5 million (mn) and has relied on that segment to drive expansion. The company closed FY26 with an AUM of Rs 305.71 bn, reflecting the expansion in recent years, and it reported a net profit rise of 22 per cent to Rs 11.08 bn. Management indicated that gross non-performing assets stood at 1.0..