JNK India (JNKINDIA) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 revenue reached INR 1,842.1 million, up 71.6% year-on-year, and H1 FY26 revenue was INR 2,871.8 million, up 44.9% year-on-year, with strong margin maintenance.

• Secured the largest-ever order from JNK Global for a cracking furnace package, expanding the order book to INR 18,499 million as of September 30, 2025.

• Formed a joint venture with Chemdist Group to enter the green hydrogen and sustainable chemicals sector.

• Focused on executing a strong order book and leveraging strategic initiatives for growth in green energy sectors.

• Approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.

Financial highlights

• Q2 FY26 operating profit was INR 454 million, up 34.6% year-on-year, with a 24.6% operating margin; Q2 EBITDA was INR 223.4 million (12.1% margin), up 44.7% year-on-year.

• Q2 FY26 profit after tax was INR 130.2 million, up 68.1% year-on-year, with a PAT margin of 7.1%.

• H1 FY26 operating profit was INR 696.3 million (24.2% margin); EBITDA was INR 295.1 million (10.3% margin); PAT was INR 141.5 million (4.9% margin).

• Standalone revenue from operations for Q2 FY26 was ₹1,783.13 million, and consolidated revenue was ₹1,783.79 million.

• Order inflow for H1 FY26 was Rs. 10,485 million, up 1.2x year-over-year.

Outlook and guidance

• Management guides for EBITDA margins in the 13%-16% range, reflecting project complexity and execution variables.

• Revenue growth expected to continue, with Q3 and Q4 anticipated to outperform Q2.

• Positioned to capitalize on growth in green hydrogen and clean energy sectors through joint ventures and strategic initiatives.

• Order pipeline remains robust domestically and internationally, with several large projects in petchem, fertilizer, and green energy sectors.

• JV with Chemdist expected to contribute 10%-15% to top line in the next 1-2 years.