John Cockerill India (500147) Q1 26/27 earnings summary

Executive summary

• Standalone revenue surged 162% year-over-year to INR 2,000 Mn, with consolidated revenue up 56% to INR 3,445 Mn, reflecting robust operational recovery and improved execution.

• Turnaround in profitability: Standalone PAT reached INR 70 Mn (vs. -7.5 Mn last year), consolidated PAT at INR 74 Mn (vs. -29 Mn last year).

• Strong order book: India at INR 13,212 Mn (+101% YoY), consolidated at INR 33,000 Mn.

• Board approved unaudited standalone and consolidated financial results for the quarter ended March 31, 2026, and discussed fund-raising options, with a follow-up meeting planned to finalize the amount and instrument.

• Strategic consolidation of the global Metals business under the Indian entity, positioning India as the execution and manufacturing hub.

Financial highlights

• Standalone revenue from operations for Q4 FY26 was ₹20,004.43 lakhs, up from ₹10,206.93 lakhs in the previous quarter and ₹7,642.43 lakhs in Q4 FY25.

• Standalone net profit for Q4 FY26 was ₹288.92 lakhs, compared to a net loss of ₹228.04 lakhs in Q4 FY25.

• Consolidated revenue from operations for Q4 FY26 was ₹34,451.74 lakhs, up from ₹22,090.02 lakhs in Q4 FY25.

• Consolidated net profit for Q4 FY26 was ₹736.08 lakhs, compared to a net loss of ₹291.38 lakhs in Q4 FY25.

• Exceptional items included a reversal of ₹239.15 lakhs in employee compensation liability due to revised estimates under new labour codes.

Outlook and guidance

• Continued growth expected, driven by strong order pipeline, improved execution, and demand for advanced steel processing technologies.

• Revamps, Spares & Services business gaining momentum, expected to contribute to recurring growth.

• India remains a key growth market, with global expansion including re-entry into China and new office in Shanghai.

• Management expects quarterly results to fluctuate due to project margins, which vary by size and complexity.

• The board is evaluating fund-raising options and will reconvene to finalize the plan.