Gujarat Toolroom Ltd improves revenue outlook

Gujarat Toolroom Limited (GTL), which is in the business of development and operation of mines and minerals, has announced a substantial enhancement in revenue outlook, as it executes an order worth Rs 55 crore.

The company also said that its order book currently stands at over Rs 300 crore.

"Gujarat Toolroom has successfully executed an order worth Rs 550 million, constituting part of the company's substantial Rs 3 billion order book for the next two quarters," the company informed in an exchange filing.

The company said the order book comprises diverse import-export orders from both domestic and international clients and it anticipates a minimum bottom line of 9-10 per cent.  

"The company has successfully concluded the acquisition of 6 hectares of mines in Zambia, marking a significant stride in our pursuit of sustainable growth," the company stated in an exchange filing.  

Each hectare of these mines would yield an estimated annual revenue ranging from $15-20 million, as per the company.