Financial Results Overview

Standalone Financial Results (₹ in lakhs):

Quarter Ended September 30, 2026:

  • Revenue from Operations: 17,441.99
  • Other Income: 169.98
  • Total Income: 17,611.97
  • Total Expenses: 19,245.69
  • Loss before exceptional item and tax: (1,633.72)
  • Exceptional Items gain: 5,357.85
  • Profit before tax: 3,724.13
  • Tax expense: 507.56
  • Net Profit for period: 3,216.57
  • Total Comprehensive Income: 3,280.97
  • Basic EPS: ₹65.15
  • Diluted EPS: ₹65.15

Quarter Ended June 30, 2026:

  • Net Loss: (457.53)
  • Basic EPS: (₹9.27)

Quarter Ended September 30, 2025:

  • Net Profit: 891.97
  • Basic EPS: ₹18.06

Nine Months Ended September 30, 2026:

  • Revenue from Operations: 52,364.24
  • Net Profit: 3,459.72
  • Basic EPS: ₹70.07

Nine Months Ended September 30, 2025:

  • Net Profit: 989.28
  • Basic EPS: ₹20.03

Year Ended December 31, 2025:

  • Net Profit: 1,031.39
  • Basic EPS: ₹20.89

Consolidated Financial Results (₹ in lakhs):

Quarter Ended September 30, 2026:

  • Revenue from Operations: 31,558.47
  • Other Income: 323.96
  • Total Income: 31,882.43
  • Total Expenses: 36,037.23
  • Loss before share of joint venture, exceptional item and tax: (4,154.80)
  • Share of loss of joint venture: (24.30)
  • Loss before exceptional item and tax: (4,179.10)
  • Exceptional Items gain: 5,357.85
  • Profit before tax: 1,178.75
  • Tax expense: 67.52
  • Net Profit for period: 1,111.23
  • Total Comprehensive Income: 913.05
  • Basic EPS: ₹22.50
  • Diluted EPS: ₹22.50

Quarter Ended June 30, 2026:

  • Net Loss: (3,136.69)
  • Basic EPS: (₹63.52)

Quarter Ended September 30, 2025:

  • Net Loss: (231.16)
  • Basic EPS: (₹4.68)

Nine Months Ended September 30, 2026:

  • Revenue from Operations: 95,866.15
  • Net Loss: (1,289.38)
  • Basic EPS: (₹26.11)

Nine Months Ended September 30, 2025:

  • Net Loss: (2,025.36)
  • Basic EPS: (₹41.02)

Year Ended December 31, 2025:

  • Net Loss: (2,917.55)
  • Basic EPS: (₹59.09)

Exceptional Items

During the quarter and period ended September 30, 2026, the Company completed the assignment of its rights in one of its leasehold properties, together with the building, for a consideration of ₹5,860.00 lakhs and recognised a net gain of ₹5,357.85 lakhs. The related income-tax expense of ₹826.24 lakhs has been recognised as part of tax expense.

During the quarter and year ended December 31, 2025, the Company had recognised an estimated incremental liability of ₹1,140.86 lakhs as an exceptional item relating to changes in wage definition under the New Labour Codes. Subsequently, this liability reduced by ₹239.15 lakhs and the reversal was recognised during the quarter ended March 31, 2026 and nine months ended September 30, 2026.

Director Appointments

1. Mr. Shekhar Shantaram Kashalikar (DIN: 09688441)

  • Appointment as Additional Non-Executive Non-Independent Director effective November 13, 2026
  • Subject to member approval within three months from appointment date
  • Mechanical Engineering graduate and Harvard Business School alumnus with over 30 years experience in industrial energy equipment sector
  • Former CEO of Thermax Babcock & Wilcox Energy Solutions Ltd. and Director of Thermax Bioenergy Solutions Pvt. Ltd.
  • Not related to any Director/Key Managerial Personnel/Promoters
  • Not debarred from capital markets or holding director position

2. Mr. Praveen Purushottam Kadle (DIN: 00016814)

  • Appointment as Additional Non-Executive Non-Independent Director effective November 13, 2026
  • Subject to member approval within three months from appointment date
  • Founder & Chairman of Prachetas Capital Private Limited
  • Former Executive Director and CEO of Garware Wall-Ropes Limited (1985-1991)
  • Over 30 years with Tata Group including Founding CFO of IBM's JV with Tatas, CFO of Tata Motors, Founder MD and CEO of Tata Capital
  • Instrumental in acquisition of Daewoo Truck Company (2004) and Jaguar Land Rover (2008)
  • Chartered Accountant, Cost & Management Accountant, and Company Secretary
  • Not related to any Director/Key Managerial Personnel/Promoters
  • Not debarred from capital markets or holding director position

3. Mr. Jan Lueder (DIN: 08643788)

  • Appointment as Additional Non-Executive Independent Director effective November 13, 2026
  • Term: 5 consecutive years from November 13, 2026, not liable to retire by rotation
  • Subject to member approval within three months from appointment date
  • Member of Corporate Board of Management of Voith Group and President & CEO of Voith Hydro since April 1, 2025
  • Former Division President Flow and Executive Committee member at Sulzer AG
  • Former management positions at Thyssenkrupp including CEO of Mining Technologies division
  • 20 years at Siemens AG in Metals Technologies, Industrial Solutions and Power Generation divisions
  • Electrical engineering degree from Technical University of Berlin
  • Not related to Promoter or Promoter Group, meets independence criteria
  • Not debarred from capital markets or holding director position

Committee Reconstitution

Effective November 14, 2026, the following committees were reconstituted:

Nomination and Remuneration Committee:

1. Mr. Nandkumar Dhekne - Chairperson (Non-Executive Independent Director)

2. Mr. Francois-David Martino - Member (Non-Executive Non-Independent Director)

3. Dr. Anupama Vaidya - Member (Non-Executive Independent Director)

4. Mr. Jan Lueder - Member (Non-Executive Independent Director)

Stakeholders Relationship Committee:

1. Dr. Anupama Vaidya - Chairperson (Non-Executive Independent Director)

2. Ms. Anjali Gupte - Member (Non-Executive Independent Director)

3. Mr. Shekhar Kashalikar - Member (Non-Executive Non-Independent Director)

Corporate Social Responsibility Committee:

1. Dr. Anupama Vaidya - Chairperson (Non-Executive Independent Director)

2. Mr. Frederic Martin - Member (Non-Executive Non-Independent Director)

3. Mr. Shekhar Kashalikar - Member (Non-Executive Non-Independent Director)

Risk Management Committee:

1. Mr. Anand Sen - Chairperson (Non-Executive Independent Director)

2. Mr. Nandkumar Dhekne - Member (Non-Executive Independent Director)

3. Ms. Anjali Gupte - Member (Non-Executive Independent Director)

4. Mr. Jan Lueder - Member (Non-Executive Independent Director)

5. Mr. Frederic Martin - Member (Non-Executive Non-Independent Director)

Subsequent Events

Acquisition of John Cockerill Metals International SA (JCMI):

  • During quarter ended March 31, 2026, acquired 100% shareholding in JCMI from John Cockerill SA (JCSA) for €29.67 million
  • €5 million consideration paid during quarter ended June 30, 2026
  • Subsequent to September 30, 2026, amended SPA to settle balance consideration through issuance of Compulsorily Convertible Preference Shares (CCPS)
  • Issued 35,185 CCPS to JCSA at subscription price of ₹58,029 per CCPS
  • Each CCPS convertible into 10 equity shares within 18 months from allotment date
  • Originally planned acquisition of John Cockerill Industry NA, USA by JCMI was omitted from amended SPA

Arbitration Matter:

  • Customer filed Statement of Claim in October 2026 regarding alleged non-performance of Cold Rolling Mill supplied by Company
  • Company disputes claims and is filing Statement of Defence and Counterclaim by January 2027
  • Management confident of defending position and does not expect significant financial impact

Meeting Details

  • Board meeting held on November 13, 2026
  • Commenced at 11:17 AM, concluded at 06:45 PM
  • Audit Committee meeting held on November 12, 2026

Auditor Information

  • SRBC & CO LLP, Chartered Accountants
  • ICAI Firm registration number: 324982E/E300003
  • Review report signed by Aruna Kumaraswamy, Partner (Membership No.: 219350)
  • Limited review conducted under SRE 2410

Consolidated Entities

The consolidated financial results include:

Subsidiaries:

  • John Cockerill Metals International SA
  • John Cockerill UVK GmbH
  • John Cockerill Industry Technologies (Beijing) Co., Ltd
  • John Cockerill Industrial Technology (Langfang) Co., Ltd
  • John Cockerill Industrial Technology (Shanghai) Co., Ltd
  • John Cockerill Industrial Technology (Zhangjiagang) Co., Ltd

Joint Venture:

  • John Cockerill Acid Recycling Technology (Shandong) Co., Ltd

Business Segment

The Company has only one business segment: Original Equipment Manufacture and Project Management.

Share Capital

Paid-up equity share capital remains unchanged at ₹493.78 lakhs (Face Value ₹10 each) across all periods presented.