Financial Performance Highlights (FY 2025)

John Cockerill India reported a significant turnaround with net profit of ₹1,031.39 lakhs for FY25 compared to a net loss of ₹538.21 lakhs in FY24. Basic and diluted earnings per share stood at ₹20.89 versus a loss per share of ₹10.90 in the previous year. Total income was ₹36,662.65 lakhs (FY24: ₹39,360.41 lakhs), while profit before tax reached ₹1,135.44 lakhs (FY24: loss of ₹716.55 lakhs). The company recorded an exceptional item of ₹1,140.86 lakhs due to the impact of new Labour Codes on employee benefit expenses, primarily affecting gratuity and compensated absences.

Operational Highlights

Order book grew 74% to ₹11,869 million with new contracts from major steel producers including Tata Steel, JSW, and Godawari Power. Key project milestones included commissioning completion for TATA CGL 2 (February 2026), JSOL ARP 2 (February 2026), and AMNS CGAL currently under commissioning. Revenue by geographical location showed India contributing ₹25,742.22 lakhs and foreign countries ₹9,786.46 lakhs.

Strategic Developments

The company completed the strategic acquisition of 100% equity share capital of John Cockerill Metals International SA, Belgium from parent company John Cockerill SA, effective January 1, 2026. The acquisition, executed through a Share Purchase Agreement on December 19, 2025, aims to consolidate and strengthen metal business operations within the John Cockerill Group, providing enhanced metals portfolio, operational synergies, and long-term growth opportunities.

Related Party Transactions

Extensive related party transactions were disclosed totaling ₹1,776.36 lakhs in goods purchases and ₹914.77 lakhs in services rendered to fellow subsidiaries. Major transactions included with John Cockerill SA (₹2,083.85 lakhs), John Cockerill Global Business Services (₹1,273.84 lakhs), and John Cockerill Industry Technologies (₹1,780.11 lakhs). All transactions were conducted at arm's length and in the ordinary course of business.

Corporate Governance & Management Changes

Mr. Michael Kotas resigned as Managing Director effective July 31, 2025, with Mr. Frederic Martin appointed as Managing Director effective August 1, 2025. Mr. Haresh Vala resigned as Company Secretary effective September 30, 2025, succeeded by Ms. Nidhi Narayan Salampuria effective December 19, 2025. The Board comprised 8 directors with 4 independent directors (including 2 women directors).

Dividend Declaration & AGM Details

The Board recommended a final dividend of ₹7.00 per equity share (70%) for FY25, subject to shareholder approval at the 40th Annual General Meeting scheduled for June 25, 2026. The AGM will be held in hybrid mode at Navi Mumbai Marriott Hotel and includes proposals for dividend declaration, director reappointment, and approval of material related party transactions for FY26.

Risk Management & Contingent Liabilities

Company maintains a well-defined risk management framework addressing global steel industry challenges, raw material cost volatility, trade-related risks, currency fluctuations, and environmental regulations. Contingent liabilities include service tax claims of ₹23,622.24 lakhs, income tax claims of ₹118.61 lakhs, and litigation with a customer regarding alleged non-performance of Cold Rolling Mill.

Subsequent Events & Outlook

The acquisition of John Cockerill Metals International SA was completed with consideration of Euro 29.67 million (₹31,616 lakhs), payable in installments through January 1, 2031. The company continues to monitor notification of Central/State Rules under the new Labour Codes for ongoing accounting effects. The tentative results date for FY26 is on or before February 28, 2027.