JTL Industries Limited, one of India’s fastest-growing steel tube manufacturers, has received approval from the National Company Law Tribunal (NCLT) for its resolution plan to acquire RCI Industries & Technologies Ltd. This acquisition marks a pivotal step in JTL’s diversification strategy, positioning the company to establish a strong foothold in the fast-growing copper and non-ferrous metals segment.
The resolution plan, cleared by both the Committee of Creditors (CoC) and NCLT, paves the way for JTL to integrate RCI’s operations based in Baddi, Himachal Pradesh, into its existing platform. RCI brings with it a well-established base in the manufacturing of flat and round copper products, brass, stainless steel, and special alloys, along with a 27,000 sq m plant boasting an installed capacity of 18,000 MTPA for brass and copper strips, 2,000 MTPA for copper wires, and 2,000 MTPA for copper cables. Up to 6,000 MTPA of this capacity can be directed toward high-value, specialized products.
Commenting on the development, the management of JTL Industries stated “The acquisition of RCI Industries & Technologies Ltd. is a strategically important milestone. It gives us immediate access to high-potential non-ferrous markets—critical for infrastructure, power, and defence applications. By adding RCI’s capacities and expertise, we are strengthening our value-added product mix, entering new metal categories, and broadening our market reach. This move will help reduce the impact of steel price cyclicality on our margins, ensuring a more stable earnings profile. The transaction has been secured at an attractive valuation through the NCLT route and is fully funded by internal accruals and recently raised capital, reflecting JTL’s financial prudence and balance sheet strength.”
The acquisition gives JTL a direct entry into the copper segment, the third most consumed industrial metal globally after iron and aluminium. Copper’s increasing relevance across electrification, infrastructure, and renewable energy makes this diversification a strategic lever for JTL’s next growth phase. RCI’s manufacturing footprint and technical know-how will enable JTL to expand its product portfolio with flat and round non-ferrous products, enhancing its ability to serve a wider range of industries.
The company anticipates that the integration of RCI’s operations will significantly scale up production and revenues, with the potential to match or exceed JTL’s current topline by FY27, once the facility is fully optimized. This acquisition is expected to be earnings-accretive and to create long-term value for all stakeholders through synergies in manufacturing, supply chains, and market access.
JTL Industries Limited is headquartered in Chandigarh and operates manufacturing facilities across Punjab, Maharashtra, and Chhattisgarh, with a combined pipe production capacity of approximately 9,36,000 MTPA and 3,00,000 MTPA for backward integration. Recognized as a 3-Star Export House, the company’s portfolio includes GI Pipes, MS Black Pipes, hollow sections, and solar structures in hot-dip galvanized, pre-galvanized, and MS black grades, serving diverse industrial and infrastructure applications. By adding RCI’s capabilities to its portfolio, JTL is set to transform from a pure steel-focused company into a multi-metal player, tapping new markets and broadening its product offerings to capture the rising demand in India’s evolving industrial landscape.
