JNK India (JNKINDIA) Q4 22/23 earnings summary

Executive summary

• FY23 revenue from operations rose to ₹4,053.42 million from ₹2,891.19 million; net profit reached ₹466.34 million versus ₹359.49 million.

• The order book was ₹705 crore at FY23 year-end, with a FY24 target of ₹850 crore; new Solar EPC operations also began through a wholly owned subsidiary.

Financial highlights

• Total income was ₹4,096.03 million versus ₹2,898.42 million; profit before tax was ₹630.79 million versus ₹477.92 million.

• Profit before depreciation, interest, exceptional items and tax was ₹744.19 million versus ₹543.08 million; depreciation was ₹63.10 million versus ₹27.32 million.

• Employee benefit expenses rose to ₹529.61 million from ₹414.38 million, including ₹50.72 million of ESOP expense; finance costs were ₹50.30 million versus ₹37.84 million.

• Net cash from operating activities was ₹196.37 million versus ₹328.41 million; cash and cash equivalents closed at ₹151.53 million versus ₹221.09 million.

Outlook and guidance

• FY24 order-book target: ₹850 crore, compared with ₹705 crore achieved in FY23.

• A wholly owned Solar EPC subsidiary began operations in FY23; a new Italian joint venture was proposed, subject to applicable approvals.