John Cockerill India (500147) Q2 26/27 earnings summary

Executive summary

• Consolidation of Chinese, German, and Belgian entities under a single platform enhanced integration, agility, and access to technology and markets, with JCIL as the unified entity effective January 2026.

• Strong year-on-year revenue growth: standalone revenue up 82% in Q2 CY26 and 120% in H1 CY26; consolidated revenue up 18% in Q2 and 36% in H1.

• Sequential revenue moderation in Q2 due to project timing, but underlying demand and order wins remain robust.

• Board approved unaudited standalone and consolidated financial results for Q2 and H1 2026.

• Appointment of Mr. Deepak Prabhakar Chindarkar as CFO effective August 24, 2026, bringing over 36 years of international finance leadership experience.

Financial highlights

• Standalone revenue for Q2 CY26: ₹1,492 mn (+82% YoY); H1 CY26: ₹3,492 mn (+120% YoY); consolidated Q2 CY26 revenue: ₹2,986 mn (+18% YoY); H1 CY26: ₹6,431 mn (+36% YoY).

• Standalone EBITDA: -₹34 mn in Q2 CY26, ₹80 mn in H1 CY26 (+439% YoY); consolidated EBITDA: -₹272 mn in Q2 CY26, -₹188 mn in H1 CY26.

• Standalone net loss for Q2 2026 was ₹457.53 lakhs, compared to net profit of ₹700.68 lakhs in Q1 2026; consolidated net loss for Q2 2026 was ₹3,136.69 lakhs.

• Upfront and one-time costs related to integration and organizational build-out impacted profitability.

• Standalone and consolidated cash and cash equivalents at period end: ₹2,944.04 lakhs and ₹34,810.12 lakhs, respectively.

Outlook and guidance

• Strong order backlog supports revenue visibility and growth trajectory for coming years, with order book at INR 4,500 crore consolidated and INR 2,200 crore standalone as of June 2026.

• Targeting INR 8,000 crore topline through organic growth and acquisitions; execution ramp-up expected in H2 as new projects progress.

• Results may fluctuate quarter to quarter due to project margins, which vary by size and complexity.

• India remains a key growth market with substantial medium- to long-term opportunities.

• Management does not expect further significant impact from ongoing arbitration or labour code changes.