JTL Defence Q1 FY27: Higher Volumes, Lower Margins, and a Depreciation Reset

The presentation lists copper strips and foils, phosphorous bronze strips, brass strips, and stainless steel foils as the product portfolio.

It discloses an integrated non-ferrous and value-added platform at Baddi, Himachal Pradesh with capacity of 20,000 MTPA.

Revenue from operations was Rs 212 Mn, EBITDA was Rs 25 Mn with EBITDA margin of 11.6%, and adjusted PAT was Rs 1 Mn (adjusted for additional depreciation of Rs 28 Mn on revalued assets).

The income statement shows reported PAT of Rs (27) Mn and notes that excluding additional depreciation of Rs 28 Mn on revalued assets, PAT would have been Rs 1 Mn.

For FY26, it highlights revenue of Rs 193 Mn, EBITDA of Rs 59 Mn (including other income), EBITDA margin of 28.3%, and PAT of Rs 3 Mn with PAT margin of 1.3%.

It lists infrastructure, electrical and power, industrial, renewables, automotive, and defence as key end-use industries.

It states goals to restore revenue levels achieved during FY17–19 over the next 2–3 years and to improve capacity utilisation by end of FY27 while increasing the share of value-added products.