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ITL Industries is a leading metal cutting solutions provider in India. ITL which introduced India's first indigenously designed & developed High Speed Double Column Bandsaw Machine in the year 1987, now offers machines ranging from 100mm to 3000mm capacity.
Currently the company is involved in manufacturing, supplying and exporting Band Saw & Band Saw Blades, Hydraulic Power Hacksaw, Special Purpose Metal Sawing Machines and Tube Mill. The range offered comprises High Speed Metal Cutting Bandsaw Machines, Double Column Automatic Band Saw Machine with (LM) Guides, Double Column Automatic Motorized Swivelling Mitre Cutting Band Saw Machine with LM Guides, Selecting the Correct Blade, Band Saw Bimetallic Blades, High Speed Circular Sawing Machines with TCT & HSS Cutter among others.
ITL has around 7620 different cutting machines installed across the country & abroad. ITL enjoys pioneer status in high speed metal sawing technology in India.
Manufactured in compliance with industry laid guidelines, these products are acknowledged for their excellent performance, low maintenance and longer service life. In addition to this, it offers After Sales Services.
Quarter results
For the quarter ended March 2019, sales grew 23% to Rs 32.56 crore. OPM fell 250 bps to 8.9% which saw OP fall 4% to Rs 2.91 crore.
Other income grew 5% to Rs 49 lakh and interest went up 5% to Rs 32 lakh. As depreciation went up 4% to Rs 49 lakh, PBT fell 5% to Rs 2.60 crore.
Tax grew 7% to Rs 70 lakh after which PAT went down 9% to Rs 1.90 crore.
FY 2019 results
In FY 2019, sales grew 23% to Rs 101.82 crore. OPM improved 10 bps to 9.9% which saw OP rise 23% to Rs 10.06 crore.
Other income fell 26% to Rs 60 lakh and interest went down 25% to Rs 1.05 crore. As depreciation went up 13% to Rs 1.29 crore, PBT grew 29% to Rs 8.33 crore.
Tax grew 29% to Rs 1.68 crore after which PAT went up 30% to Rs 6.65 crore.
Segment results
For the quarter, sales from the Machine Manufacturing segment grew 16% to Rs 25.01 crore and accounted for 70% of sales. PBIT from the same grew 28% to Rs 2.49 crore and accounted for 85% of total.
For the quarter, sales from the Trading division grew 2% to Rs 10.81 crore and accounted for 30% of sales. PBIT from the same fell 62% to Rs 42 lakh and accounted for 15% of total.
In FY 2019, sales from the Machine Manufacturing segment grew 21 to Rs 78.20 crore and accounted for 72% of sales. PBIT from the same grew 33% to Rs 7.22 crore and accounted for 77% of total.
In FY 2019, sales from the Trading division grew 12% to Rs 30.76 crore and accounted for 28% of sales. PBIT from the same fell 7% to Rs 2.15 crore and accounted for 23% of total.
FY 2019 consolidated results
In FY 2019, consolidated sales grew 23% to Rs 101.82 crore. PBT grew 31% to Rs 8.41 crore. PAT went up 31% to Rs 6.70 crore.
Enjoys various MNC technological tie ups which gives it a cutting edge
In the year 1996, ITL joined hands with KASTO Maschinenfabrik GmbH Germany to manufacture state-of-the-art High Speed Power Hacksawing Machines in India.
In 2007 ITL introduced India's first NC Carbide Circular Saw Machines, now offering various models to cover 10mm to 250mm cutting capacity.
Also in 2007, ITL joined hands with Technomech Engineers who produce Tube & Pipe Manufacturing Equipments like Tube Mills, Pipe Plants & Allied Equipments including Horizontan & Vertical Accumalators.
In the year 2008 ITL introduced Ecofriendly Highly Energy Efficient Burr Free Coldsaw Fly Cutoff for online cutting on Tune Mills up to 120 Mtrs/Minuts.
ITL also has a Trading Division, Selling Cutting Tools & Lubricants for its machines as well as distributing hydraulic components of EATON, USA.
The company has applied for patents for following:
- Energy Saver Burr Free Cold Saw Fly Cut Off with Stationary rake system.
- Energy Saver Burr Free Cold Saw Fly Cut Off with double saw head to cut Pipe dia 275 x 8 mm.
- Double Shuttle Type Fly Cut Off with Burr Free Cold Saw and Friction saw.
Has long list of marquee clients across geographies
The superior quality of its products have enabled it to win the confidence of various prestigious customers like Bharat Heavy Electricals Limited, Bharat Aluminium Company Limited, Hindustan Aeronautics Limited, Bhabha Atomic Research Centre (BARC), Defence Metallurgical Research Laboratory (DMRL), Indian Space Research Organization (ISRO)
It has client base across the markets of Indian Subcontinent, North Africa, South/West Africa, East/Middle Africa, South East Asia, Middle East & East Asia. Some of the global clients include likes of ABB, Siemens, Ford, Geenral Motors, GE, etc.
Valuation
The scrip trades at Rs 169.
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