Synopsis: JSW JFE Electrical Steel Nashik Private Limited has awarded a domestic order of around Rs 85 to 90 crore to John Cockerill India Limited for the supply of tunnel furnace packages under one CRGO steel project to further fill its industrial execution pipeline.
John Cockerill India Limited is currently trading at Rs 9,207 after yesterday’s closing price of Rs 9,125. The stock opened at Rs 9,300, creating a day high of Rs 9,555.5; the day’s low so far is Rs 9,180. The current market capitalisation of the company is Rs 4,536 crore.
CRGO Project Order Details
The scope of work includes a complete furnace system package that includes important elements such as the entry vestibule, process section, exit vestibule and car return mechanism, indicating complete participation in the main processing infrastructure, rather than just providing limited equipment.
The project is part of a CRGO steel manufacturing setup, a specialized segment used in transformer-grade electrical steel, where tunnel furnace systems play a critical role in enabling controlled thermal processing required for high-quality output.
The full project will be completed and delivered within 15 months from June 2026. John Cockerill India will start acknowledging parts of this Rs 85 to 90 crore revenue milestone by milestone in the coming five quarters. This rapid execution cycle delivers clear top-line growth and a predictable cash inflow to support operations in the near term.
Recent Quarter Results
The company’s revenue grew by 55.9 percent year-on-year from Rs 220.90 crore in Q4 FY25 to Rs 344.52 crore in Q4 FY26, with a sequential growth of 55.8 percent from Rs 228.41 crore in Q3 FY26 to Rs 344.52 crore in Q4 FY26.
The company reported a net profit of Rs 7.36 crore in Q4 FY26, compared to a net loss of Rs 2.91 crore in Q4 FY25, indicating a clear turnaround in profitability. On a sequential basis, the company also improved from a loss of Rs 8.92 crore in Q3 FY26 to a profit of Rs 7.36 crore in Q4 FY26.
At the operating level, the company posted an operating profit of Rs 4.91 crore in Q4 FY26, compared to operating losses in the previous quarters, with OPM improving to 1.43 percent, highlighting early signs of margin recovery.
Since the company has been recently listed, long-term CAGR metrics are not yet meaningful. However, the recent quarterly performance indicates improving revenue traction and a shift towards profitability.
In terms of per-share performance, the company reported an EPS of Rs 14.91 in Q4 FY26. The financial counterparty risk of the company is almost nil, as they are directly partnering with a huge national infrastructure ecosystem like JSW JFE.
Company Overview
John Cockerill India Limited is an engineering and manufacturing company offering industrial equipment and solutions to the steel, energy and heavy industry sectors. The company designs, builds and installs high-value industrial systems such as process equipment and turnkey engineering solutions in complex manufacturing environments. It operates as part of the global John Cockerill Group, leveraging international technology capabilities and engineering expertise to deliver advanced industrial infrastructure solutions.
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