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Small Cap stock engaged in the business of design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces, hit a 20 percent upper circuit upon receiving a work order of upto Rs. 500 Crores from Reliance Industries. 

With a market capitalization of Rs. 4,358 Crores, the shares of JNK India Limited were trading at Rs. 783.95 per equity share, up 15.50 percent from its previous day’s close price of Rs. 678.75. 

JNK India Limited has received a work order from Reliance Industries Limited for consideration in the range of Rs. 350-500 Crores, for the Gas Cracker Unit (GCU) De-Bottlenecking (DBN) Project at Reliance Industries Nagothane Manufacturing Division (NMD), Maharashtra in India. 

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The scope of work includes Design, Engineering, Procurement, Supply, Complete Site Erection, and technical assistance during pre-commissioning, commissioning, and performance guarantee test runs for two (2) Gas Cracking Furnaces. 

JNK India Limited is engaged in the business of design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers, and cracking furnaces, that are required in process industries such as oil and gas refineries, petrochemicals, fertilizer, and other industries. 

It specializes in thermal designing, engineering, manufacturing, supplying, installing, and commissioning Heating Equipment and caters to both domestic and overseas markets. As of December 31, 2023, JNK India Limited had a strong Order book of Rs. 845 Crores, out of which 86 percent of the orders came from India. 

Its Revenue from Operations grew by 111 percent from Rs. 107.4 Crores in Q4FY23 to Rs. 226.85 Crores in Q4FY24, accompanied by profits of Rs. 10.66 Crores to Rs. 16.65 Crores. 

In terms of Return ratios, it has reported a return on equity (ROE) of 39.5 percent, and a return on capital employed (ROCE) of 46.3 percent. It has reported a debt-to-equity ratio of 0.34. 

Written by: Bharath K.S 

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