Management Commentary

Mr. Arvind Kamath, Chairperson and Whole Time Director, stated that the company started FY27 strongly with Total Income growing by 80.6% YoY to ₹186.0 crore in Q1FY27 compared to ₹103.0 crore in Q1FY26. EBITDA including other income grew by 3.1x YoY to ₹21.9 crore and PAT grew by 8.5x YoY to ₹9.6 crore. The company maintained an EBITDA margin of 11.8% in Q1FY27. The strong performance reflects healthy project execution and continued business traction.

The order book as of June 30, 2026 stands at ₹1,801 crore with a bidding pipeline of approximately ₹6,000 crore across domestic and international markets, split 50:50 between domestic and export markets. The company is diversifying into offshore, metals & minerals, and focusing more on renewable energy segments. JNK Chemdist has started adding value to the renewable energy focus and is executing a green hydrogen project while pursuing more opportunities in related categories.

Financial Highlights (Consolidated)

Q1FY27 Performance (₹ in crore):

  • Total Income: ₹186.0 (includes Revenue of ₹16.5 crore from JNK Chemdist Limited which was not part of Q1FY26)
  • Operating Expenses: ₹135.9
  • Gross Profit: ₹50.1
  • Gross Profit Margin: 26.9%
  • Employee Cost: ₹18.4
  • Other Expenses: ₹9.7
  • EBITDA (Includes Other Income): ₹21.9
  • EBITDA Margin: 11.8%
  • Depreciation: ₹2.9
  • EBIT: ₹19.1
  • EBIT Margin: 10.3%
  • Finance Cost: ₹4.4
  • Profit before Tax: ₹14.6
  • Profit before Tax Margin: 7.9%
  • Tax: ₹5.0
  • Profit After Tax: ₹9.6
  • Profit After Tax Margin: 5.2%
  • Basic EPS: ₹2.05

YoY Comparison (Q1FY27 vs Q1FY26):

  • Total Income: +80.6% (₹186.0 cr vs ₹103.0 cr)
  • EBITDA: 3.1x growth (₹21.9 cr vs ₹7.2 cr)
  • PAT: 8.5x growth (₹9.6 cr vs ₹1.1 cr)

Quarterly Comparison (Q1FY27 vs Q4FY26):

  • Total Income: ₹186.0 cr vs ₹344.3 cr
  • EBITDA: ₹21.9 cr vs ₹52.3 cr
  • PAT: ₹9.6 cr vs ₹33.0 cr

Annual Comparison (FY26):

  • Total Income: ₹838.0 crore
  • EBITDA: ₹111.3 crore
  • PAT: ₹64.8 crore

Standalone Financial Performance (₹ in crore)

Q1FY27:

  • Total Income: ₹170.1
  • Operating Expense: ₹135.9
  • Gross Profit: ₹34.2
  • Gross Profit Margin: 20.1%
  • Employee Cost: ₹16.4
  • Other Expenses: ₹8.4
  • EBITDA (Includes Other Income): ₹9.5
  • EBITDA Margin: 5.6%
  • Depreciation: ₹1.8
  • EBIT: ₹7.6
  • EBIT Margin: 4.5%
  • Finance Cost: ₹3.4
  • Profit before Tax: ₹4.2
  • Profit before Tax Margin: 2.5%
  • Tax: ₹5.0
  • Profit After Tax: -₹0.8
  • Profit After Tax Margin: -0.5%
  • Basic EPS: ₹2.42

Order Book Update

  • Order book as on June 30, 2026: ₹1,801 crore
  • Bidding pipeline: Approximately ₹6,000 crore with 50:50 split between Domestic and Export markets
  • Order cancellation: A large export order received on June 8, 2026 was cancelled due to inability to secure requisite technical approval from the licensor. No material costs incurred and no execution had commenced.

Business Segments and Diversification

The company is expanding into new segments including:

  • Offshore projects
  • Metals & minerals
  • Renewable energy (with JNK Chemdist executing green hydrogen project)

Product Portfolio

Core offerings include:

  • Process Fired Heaters
  • Reformers
  • Cracking Furnaces
  • Flare Systems
  • Incinerators
  • Waste Gas handling systems

End-Use Industries

  • Refining
  • Petrochemicals
  • Fertilizers
  • Steel
  • Hydrogen

Key Capabilities

  • Thermal Design
  • Installation & Commissioning
  • Process Engineering
  • Technology-based projects

Financial Information Note

Financial information for previous periods has been regrouped/reclassified to conform to appropriate presentation and comparability of financial information, wherever necessary.