John Cockerill India Reports Robust Q3 Performance, Eyes Global Expansion
John Cockerill India Limited (JCIL) reported significant improvements in Q3 financial performance. Order intake increased nearly 10 times from Q1 to INR 5.86 billion, while the order backlog almost doubled to over INR 11,000 million. Revenue grew by over 18%, and EBITDA rose 13% sequentially to approximately INR 120 million. The company secured major orders from industry leaders and approved the acquisition of John Cockerill Metals International in Belgium for EUR 50 million. JCIL is investing in new technologies and expanding its service capabilities, targeting INR 8,000 crore in revenue by 2030.
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John Cockerill India Limited (JCIL) has reported a significant improvement in its financial performance for the third quarter, marking a period of steady recovery and disciplined execution. The company's strategic moves and technological advancements position it for substantial growth in the coming years.
Strong Financial Performance
JCIL's Q3 results showcase a remarkable turnaround:
| Metric | Q3 | Change |
|---|---|---|
| Order Intake | INR 5.86 billion | Nearly 10x Q1 figure |
| Order Backlog | Over INR 11,000 million | Almost doubled |
| Revenue Growth | Over 18% | Up from 7.5% in Q2 |
| EBITDA | Approx. INR 120 million | 13% sequential rise |
| Cash Position | Over INR 1,470 million | More than doubled from Q1 |
The company secured major orders from industry leaders, including GSW-GFE (INR 2,700 million), Tata Steel (INR 800 million), Godawari Power Ispat (INR 500 million), Jindal India (INR 400 million), and JSW Steel (INR 1,750 million).
Strategic Expansion and Technology Focus
JCIL's Board has approved the acquisition of John Cockerill Metals International in Belgium for EUR 50 million, aiming to consolidate global metals activities under the India-based entity. This move is expected to strengthen JCIL's position as a global leader in high-tech solutions for the steel industry.
The company is also making strides in advanced technologies:
- JVD Technology: Already proven industrially, with potential commercialization in the near future.
- Volteron Technology: In the final development stage, with potential commercialization within 12-24 months.
These technologies are expected to contribute to JCIL's revenue and margin growth in the coming years.
Service and Spare Parts Expansion
JCIL is investing in a new roll coating facility at Taloja. This facility will have a production capacity of 300 rolls per year, with an expected annual revenue of at least INR 3 crore. The total investment for this expansion is approximately INR 2 crore.
Future Outlook
The company has set a target to reach INR 8,000 crore in revenue by 2030, leveraging new technologies and potential external growth opportunities. JCIL's global presence, particularly in growing markets like India and Southeast Asia, positions it well for sustained growth and profitability.
Management Commentary
Francois-David Martino, Chairman of John Cockerill India Limited, stated, "The first nine months have marked a period of steady recovery and disciplined execution for us. This quarter has shown clear improvement in our key performance indicators such as order entry, revenue, profitability and cash flow, reflecting that our turnaround plan is gaining traction."
As JCIL continues to strengthen its position in the global steel technology market, it remains focused on leveraging its technological expertise and strategic expansions to drive growth and create value for its stakeholders.
Historical Stock Returns for John Cockerill
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.63% | -1.87% | -1.93% | +86.50% | +9.89% | +620.43% |
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