Jagatjit Industries Limited reported its Q2FY24 profit from continuing operations at Rs 4.33 crore, up from Rs 42 lakh in September 2022. The total revenue reached Rs 368.23 crore, representing a substantial increase of 21.90 per cent compared to last year. On a standalone basis, Jagatjit Industries reported a profit of Rs 4.25 crore during the second quarter of FY24, up 272.8 per cent in comparison to Rs 1.14 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 179.02 crore, up 7.4 per cent as against Rs 166.69 crore during the same period last year.
The company EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for H1Y 23-24 reached Rs 25.04 crore, reflecting substantial growth of 58 per cent compared to Rs 15.85 crore in the year-to-date period ending September 2022. Moreover, the company moved from a loss of Rs 3.13 crore in September 2022 to a profit after taxes of Rs 7.62 crore in September 2023.
“The results underscore the company’s commitment to a robust growth strategy, encompassing key elements which include optimizing operational efficiencies, identifying and capitalizing on new market opportunities, diversifying the product portfolio, incorporating innovative technologies, recognising opportunities for upgrading to a premium portfolio and setting up a new greenfield project,” it said in a statement.
“This half-yearly performance fortifies our position as industry leaders and is a clear testament to our strategic initiatives, which continue to drive our financial success. With a focus on innovative offerings and expanding our market footprint, we have not only strengthened our financials but also set a precedent for future growth,” said Roshini Sanah Jaiswal, Promoter & Executive Director, Jagatjit Industries Limited.
Jagatjit Industries’ shares closed at a high of Rs 219.35 on November 13, 2023, on the Bombay Stock Exchange (BSE). Over the past six months, investors have enjoyed a remarkable return of around 126 per cent from their investments in the company. Furthermore, the company’s share performance over the last twelve months has been truly noteworthy, with a substantial return of 175.74 per cent.
Founded in 1944, Jagatjit Industries Limited (JIL) manufactures an entire range of alcoholic beverages, i.e., Whisky, Vodka, Rum, Gin and Brandy. The company’s brands in the AlcoBev sector are Aristocrat Premium Whiskey, AC Black Whiskey, Royal Pride Whiskey, King Henry Damn Good Scotch and iice Vodka. The company has manufacturing facilities in Kapurthala District, Punjab along with other manufacturing units in Behror, Rajasthan.