John Cockerill India (500147) Q3 25/26 earnings summary

Executive summary

• Achieved a sharp turnaround in profitability in Q3CY25, with sequential and year-over-year improvements in revenue and margins, driven by operational agility and disciplined execution.

• Board approved unaudited financial results for the quarter and nine months ended September 30, 2025, following review by the Audit Committee.

• Order book doubled between Q2 and Q3CY25, reaching INR 11,291 million, reflecting strong customer trust and future revenue visibility.

• Strategic focus on revamps, spares, and services, with new rolls coating capabilities to be commissioned in Q1CY26.

• Initiated consolidation of the global metals business under the Indian entity, aiming to make India the hub for global operations.

Financial highlights

• Q3CY25 revenue rose 28% year-over-year to INR 970 million; EBITDA improved to INR 113 million from a loss of INR 86 million in Q3CY24.

• Revenue from operations for the quarter ended September 30, 2025: ₹9,942.05 lakhs, up from ₹8,211.77 lakhs in the same quarter last year.

• PAT turned positive at INR 89 million in Q3CY25 versus a loss of INR 75 million in Q3CY24; PAT margin improved to 9.2%.

• Earnings per share (basic and diluted) for the quarter: ₹18.06.

• Cash position strengthened from INR 742 million in Dec-24 to INR 1,472 million in Sep-25.

Outlook and guidance

• Expectation of continued growth in profitability and cash flows, supported by a robust order book and strong domestic steel demand.

• Results may fluctuate quarter to quarter depending on project margins, which vary by size and complexity.

• New orders to start reflecting in revenue from CY26, based on percentage of completion.

• Focus on efficiency, precision, and streamlining processes to minimize rework and optimize resources.