EBITDA tumbled 41.56% to Rs 233.7 crore in Q1 FY26 as compared with Rs 399.9 crore in Q1 FY25. EBITDA margin declined 346 bps to 4.3% in Q1 FY26 as against 7.8% in Q1 FY25.

Sales volume increased by 26.53% YoY to 108,406 MT compared to 85,674 MT in Q1FY25. Notably, value-added products contributed 20% to the company’s total sales mix, with sales volumes of 22,039 MT, driven by strong demand across key markets.

“The Mangaon plant has a total installed capacity of 450,000 MTPA, including 250,000 MTPA with Direct Forming Technology (DFT). An additional 300,000 MTPA capacity for ARW/API-grade ERW pipes is expected to be commissioned within a year. Furthermore, the company is adding 400,000 MTPA of GI COIL capacity, enhancing the pre-galvanized product range, with commissioning expected by Q3FY26. A 600,000 MTPA color-coated coil capacity is also being added, enhancing the color-coated product range by H1FY27,” the company stated in the exchange filing.

The demand for structural steel tubes is driven by government commitments to bolster infrastructure in sectors such as construction, oil & gas, water supply, and agriculture. The Indian warehousing sector is projected to experience significant growth, with demand expected to reach approximately 1.2 billion square feet by 2027.

JTL Industries is amongst the fastest-growing steel tube manufacturers, and its registered office is in Chandigarh. The company has manufacturing facilities in Punjab, Maharashtra, and Chhattisgarh. Its product offering includes GI pipes, MS black pipes, hollow sections, and solar structures, which cater to diverse industrial and infrastructural applications.