Shares of this smallcap company jumped around 1 percent in Wednesday’s trading session after receiving significant order from Indian Oil Corporation Limited. The shares made a stellar debut on the stock exchange last month marking a 50 percent premium over its IPO issue price.
With a market capitalization of Rs. 3,581 crores, the shares of JNK India Ltd started Wednesday’s trading session on a higher note at Rs. 643.95 compared to its previous close of Rs. 641.95. During the trading session, the shares hit a high of Rs. 647.85, gaining around 1 percent and are currently trading at Rs. 644 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that they had received a significant order from Indian Oil Corporation Limited (IOCL) for the supply of Incinerator Package at IOCL Barauni Refinery. While the company did not disclose the exact value of the order win, it counts an order as ‘Significant’ when it is valued order ranges upto 50 crores.
Coming onto the company’s financial statements, the revenue zoomed by 38 percent from Rs. 296 crores during FY21-22 to Rs. 407 crores in FY22-23. On the other hand, the net profits increased by 28 percent from Rs. 36 crores to Rs. 46 crores during the same period.
As of March 31, 2023, the company has served over 17 clients in India and 7 clients overseas. The domestic clients include Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited, and Numaligarh Refinery Limited. Seven out of the 12 oil refining companies in India are its Customers.
Furthermore, the company is also working on building capabilities in the renewable sector with green hydrogen and has recently diversified into waste gas handling systems including flares and incinerator systems.
Moreover, the company’s manufacturing site in Mundra, Gujarat, situated within the Multi-Product Special Economic Zone, is dedicated solely to exports. Spanning approximately 20,243 square meters, it has an installed capacity of 5,000 metric tonnes annually for manufacturing and modularization.
Headquartered in Maharashtra, JNK India was incorporated in 2010. The company is engaged in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces.
Written By Vaibhav Patil
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