Significant growth for Jagatjit Industries

New Update
Significant growth for Jagatjit Industries

The annual reports for the fiscal year 2022-23 of Jagatjit Industries Limited have shown strong growth and recovery.

The company has increased its gross revenues over the last three years from Rs. 273 crore to Rs. 625 crore, a notable 2.29 fold growth from FY 2019-20. The company’s revenues climbed by 24 percent in FY 2022-23, while its net sales rose by 14 percent. Additionally, the business turned a profit of Rs.10.62 crore in FY 2022-23 after losing Rs. 51.65 crore in FY 2019-20.

As a result of its effective turnaround approach, Jagatjit Industries has reported double-digit Profit Before Taxes for the first time in the previous ten years.

In the coming fiscal year (FY) 2023-2024, Jagatjit Industries plans to launch a number of significant strategic projects. For example, coming up with the facility that produces ethanol from grains, which is going to be operational by June 2024 is an initiative that is predicted to greatly boost the company's revenues and profitability.