JNK India (JNKINDIA) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 revenue was ₹1,030 million, up 13.5% year-over-year, with a strong order book of ₹9,828 million as of June 30, 2025, 90.9% domestic.

• Focused on project execution and timely delivery, with operational discipline in engineered-to-order combustion systems for refinery, petrochemical, and fertilizer sectors.

• Entered a joint venture post-quarter to develop green hydrogen and sustainable fuel technologies, holding a 51% stake.

• Approved unaudited standalone and consolidated financial results for Q1 FY26, reviewed by independent auditors with no material misstatements.

Financial highlights

• Q1 FY26 operating profit was ₹242 million (23.5% margin), EBITDA ₹72 million (7% margin), and PAT ₹11 million (1.1% margin), with PAT down 82.3% year-over-year.

• Standalone revenue from operations for Q1 FY26 was ₹988.94 million, consolidated revenue was ₹991.68 million.

• Sequentially, revenue dropped 48.5% from Q4 FY25, with operating profit and EBITDA also declining sharply.

• Basic and diluted EPS for Q1 FY26 stood at ₹0.21 (standalone) and ₹0.20 (consolidated), down from ₹1.36 and ₹1.33 in Q1 FY25.

• Employee costs increased 15.5% year-over-year, net of ESOP expenses.

Outlook and guidance

• Revenue growth guidance of 40%-50% and EBITDA margin guidance of 12%-13% for FY26 reaffirmed.

• Legacy order book expected to be completed by Q2 FY26; margins to normalize from Q3 onwards, with sustainable EBITDA margins of 13%-15% targeted post-legacy project completion.

• Order book execution expected through Q1 FY27, with healthy pipeline and order inflow visibility.

• Strategic focus on enhancing delivery systems, expanding into new markets, and targeting hydrogen infrastructure and mid-sized EPC opportunities.