JNK India (JNKINDIA) Q2 26/27 earnings summary

Executive summary

• H1 FY27 operational revenue rose 30.4% YoY to INR 370.2 crore; consolidated EBITDA increased 50% to INR 39.4 crore and PAT rose 61.9% to INR 22.9 crore. Order book was INR 1,662 crore at September 30, 2026.

• FY27 guidance was maintained at 20%-25% revenue growth and 12%-14% EBITDA margin on operational revenue; H2 is expected to contribute 60%-70% of annual revenue.

• Q2 execution was affected by shipment delays and monsoon disruption; INR 30 crore-INR 40 crore of dispatches were deferred.

Financial highlights

• Q2 FY27 operational revenue was INR 187.5 crore, up 3.4% YoY; EBITDA was INR 20.8 crore, up 6.6%, and PAT was INR 13.3 crore, up 2.0%.

• Q2 consolidated revenue was ₹1,840.29 million versus ₹1,783.79 million in Q2 FY26; PBT was ₹174.48 million versus ₹178.12 million and net profit was ₹132.77 million versus ₹130.23 million.

• H1 FY27 operational revenue was INR 370.2 crore versus INR 283.9 crore; PAT margin was 6.2%.

• Standalone H1 operational revenue was INR 341.7 crore, up 20.6% YoY; EBITDA was INR 38.4 crore and PAT was INR 26.6 crore.

• H1 consolidated operating cash flow was ₹27.96 million versus ₹103.43 million in H1 FY26.

Outlook and guidance

• FY27 guidance remains revenue growth of 20%-25% and EBITDA margin of 12%-14% on operational revenue.

• H2 is expected to contribute 60%-70% of annual revenue, with execution accelerating mainly in Q3 and Q4 and the strongest recovery in the final quarter.

• The INR 5,000 crore bidding pipeline, excluding recent wins, is split 50:50 between domestic and export opportunities; some conversions may move from Q4 into Q1.

• INR 1,500 crore of order-book revenue was available for execution in the following financial year.