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 June 2019, sales grew 3% to Rs 19.71 crore. OPM fell 90 bps to 9.5% which saw OP fall 5% to Rs 1.88 crore.

Other income grew 77% to Rs 9 lakh and interest went up 26% to Rs 35 lakh. As depreciation went up 3% to Rs 31 lakh, PBT fell 10% to Rs 1.30 crore.

Tax fell 16% to Rs 21 lakh after which PAT went down 9% to Rs 1.09 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 16% to Rs 60 lakh and interest went down 20% 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 9% to Rs 14.96 crore and accounted for 73% of sales. PBIT from the same fell 21% to Rs 1.07 crore and accounted for 65% of total.

For the quarter, sales from the Trading activities fell 10% to Rs 5.58 crore and accounted for 27% of sales. PBIT from the same grew 53% to Rs 58 lakh and accounted for 35% of total.

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.

The scrip trades at Rs 123.