SYNOPSIS: One of the leading combustion equipment companies in India secured an order worth up to Rs. 600 crores from a promoter for refinery project services in India, classified as an arm’s length related party transaction, with completion targeted by 2028.
During Monday’s trading session, shares of one of the leading combustion equipment companies in India, specialising in fired heaters, reformers, and cracking furnaces, surged nearly 11 percent on BSE, after securing an order worth up to Rs. 600 crores for a refinery project in India.
With a market cap of Rs. 1,215.3 crores, shares of JNK India Limited are currently trading at Rs. 217.2 on BSE, compared to its previous closing price of Rs. 218. The stock has delivered negative returns of around 39 percent in one year, and has fallen by nearly 8 percent in the last one month.
What’s the News:
According to the latest disclosure filed with the stock exchanges, JNK India Limited has received a major order valued between Rs. 300-600 crores from JNK Global Co., Ltd., Korea. The contract involves providing support services and supplies for the Cracker Furnace Package of a refinery project in India.
The order has been awarded by the company’s international promoter entity and will be executed domestically. The project is scheduled for completion by 2nd February 2028.
JNK Global, being one of the promoters of the company, classifies this transaction as a related-party deal. However, the company has clarified that the contract is being executed on an arm’s length basis, with no conflict of interest involved.
Financials & More:
JNK India Limited is one of the leaders in the design, manufacturing, and installation of combustion equipment. It specialises in thermal design, engineering, and project execution for industries such as oil and gas refineries, petrochemical complexes, and fertiliser production.
Over the years, JNK India has diversified into waste gas handling systems, such as flare systems and incinerators, and has entered the renewable energy sector with a focus on green hydrogen infrastructure. The company is strategically positioned in India’s refining and petrochemical markets, providing high-quality combustion equipment and waste gas management systems.
JNK India reported a significant growth in revenue from operations, experiencing a year-on-year increase of over 116 percent, from Rs. 94 crores in Q3 FY25 to Rs. 203 crores in Q3 FY26. Likewise, its net profit increased during the same period from Rs. 3 crores to Rs. 18 crores, representing an impressive rise of nearly 500 percent YoY.
The company reported a total order book of Rs. 1,761 crores, supported by an order inflow of Rs. 1,137.2 crores during 9M FY26. The order book is largely driven by heating solutions, which account for around 89.6 percent, followed by process plants at 5.3 percent, flares, incinerators and other renewable segments at 2.5 percent, and special fabricated equipment from the new joint venture contributing 2.7 percent. Domestic projects constitute 96.6 percent of the overall order book, highlighting the company’s strong positioning in the Indian market.
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