JNK India (JNKINDIA) Q4 24/25 earnings summary

Executive summary

• Achieved record annual order inflow of INR 9,327 million and closing order book of INR 10,819 million in FY 2025, reflecting strong customer confidence, revenue visibility, and business resilience.

• FY 2025 marked the first year as a listed entity, with successful IPO, expansion into new product streams, and entry into new markets.

• Diversified portfolio now includes cracking furnaces, incinerators, flares, green hydrogen fuel stations, and process plants, serving oil & gas, petrochemical, steel, and fertilizer sectors.

• Audited standalone and consolidated financial results for FY 2024-25 were approved, with unmodified opinions from statutory auditors.

• Board recommended a final dividend of ₹0.30 per equity share for FY 2024-25, subject to shareholder approval.

Financial highlights

• FY 2025 consolidated revenue was ₹4,766.45 million, up 2.5% year-over-year; Q4 FY 2025 revenue was ₹2,000 million, more than doubling sequentially.

• Operating profit for FY 2025 was ₹1,424 million (28.8% margin); EBITDA ₹649 million (13.1% margin); PAT ₹302.04 million (6.1% margin).

• Profit after tax dropped 51.8% year-on-year; ROCE at 16.6% and ROE at 8.6%.

• Employee benefit expenses improved to INR 457 million, aided by the end of ESOP-related costs; employee costs as % of revenue declined to 9.1% in FY25 from 23.6% in FY21.

• Cash and cash equivalents increased to ₹1,439.40 million as of March 31, 2025.

Outlook and guidance

• Revenue expected to pick up from Q2 FY 2026, with a conservative estimate of 40%-50% growth over FY 2025.

• EBITDA margin guidance set at 14%-16% (including other income), reflecting ongoing margin pressures and project mix.

• Execution of current order book anticipated over six quarters, with most Reliance project revenue billed in FY 2026 and some spillover to Q1 FY 2027.

• Focus for FY26 is on timely execution of the order pipeline and enhancing project management and engineering systems for scalability.

• Board recommended a final dividend of ₹0.30 per share for FY 2024-25, pending shareholder approval.