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 December 2018, sales grew 13% to Rs 22.97 crore. OPM improved 220 bps to 11.9% which saw OP rise 39% to Rs 2.73 crore.

Other income fell 91% to Rs 1 lakh and interest went up 4% to Rs 27 lakh. As depreciation went up 17% to Rs 27 lakh, PBT grew 35% to Rs 2.20 crore.

Tax jumped 50% to Rs 42 lakh after which PAT went up 31% to Rs 1.78 crore.

Nine month results

For the nine months, sales grew 23% to Rs 69.26 crore. OPM improved 130 bps to 10.3% which saw OP rise 40% to Rs 7.15 crore.

Other income fell 57% to Rs 11 lakh and interest went down 27% to Rs 73 lakh. As depreciation went up 19% to Rs 80 lakh, PBT grew 56% to Rs 5.73 crore.

Tax jumped 51% to Rs 98 lakh after which PAT went up 56% to Rs 4.75 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.

Encouraging response for new products

Apart from Bandsaw Machines, designing and manufacturing of equipment for production of Pipes and Tubes as well as Special Purpose Equipment based on customers' needs has been well received. Some new models of metal cutting machines have been developed in-house and the company is receiving good response from the customers.

In some new products for Tube & Pipe Manufacturing Company, High Speed Circular Sawing Machines, ITL has captured a reasonable market size. More and more technological advancement and updation of latest technology creates an opportunity to penetrate into new products line & new global markets.

New developments as well as modifications in existing models are necessary to offer value for money to its customers. Two new larger size models of CSNC Carbide Circular Saw Machine for Steel cutting have been further developed in the recent past.

Buoyant outlook

This year cutting tools and related industries seem to be doing well and prospects look encouraging.

The company is confident of growing faster in comparison to economy & capital goods industry looking at the present level of orders and enquiries for Manufacturing Division i.e. Bandsaw. and Tube & Pipe Manufacturing equipment. Once economy recovers, industrial capex will also pick up opening better growth opportunities for the company.

The domestic demand for companies' products is expected to remain better. Its Trading divisions are also expected to perform well. The company has also made break through into export markets and exported few machines.

The scrip trades at Rs 168.