Jai Balaji Industries Q2 net profit dips 24%, proposes 1:5 stock split

Jai Balaji Industries Ltd. reported a year-on-year net profit decline of 24% for Q2 FY25, with profit falling to ₹153.2 crore from ₹201.6 crore in the same period last year.

The dip was largely due to a ₹60 crore provision for deferred tax, according to Chairman and Managing Director Aditya Jajodia.

Revenue from operations rose marginally by 0.6% to ₹1,556.6 crore, compared to ₹1,546.6 crore a year earlier, reflecting stable demand across the company’s key markets.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 7% to ₹228.3 crore, up from ₹213.4 crore, resulting in an improved EBITDA margin of 14.7% compared to 13.8% last year.

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To enhance liquidity, the board has proposed a stock split, dividing each ₹10 share into five shares of ₹2 each. “This move aims to make our shares more accessible to a broader base of investors,” Jajodia noted.

He also reaffirmed Jai Balaji’s commitment to its ongoing ₹1,000 crore capital expenditure plan to boost capacity in core areas such as ductile iron pipes and ferroalloys, supporting the company’s expansion goals and value-added product lines.

With major facilities in West Bengal and Chhattisgarh, Jai Balaji remains a prominent player in India’s private steel sector.