John Cockerill India (500147) Q4 18/19 earnings summary

Executive summary

• FY19 delivered record production, sales volume, EBITDA and profit after tax; revenue from operations rose 61% YoY on higher volumes and realizations.

• Export sales increased 244% YoY, while capacity expansion and new international orders supported growth amid customer project delays and input-cost pressures.

Financial highlights

• Revenue from operations was ₹49,623.90 lakh vs ₹30,823.46 lakh; total income was ₹51,754.90 lakh vs ₹32,450.76 lakh.

• Profit before tax rose to ₹4,703.39 lakh from ₹1,325.21 lakh; profit after tax increased to ₹3,509.74 lakh from ₹672.00 lakh.

• EBITDA, as presented as profit before depreciation, finance costs and tax, was ₹5,290.52 lakh vs ₹2,008.52 lakh.

• Total comprehensive income was ₹3,541.21 lakh vs ₹581.82 lakh; EPS was ₹71.08 vs ₹13.61.

Outlook and guidance

• Satisfactory orders were secured during FY19; remaining performance obligations were ₹83,060.04 lakh at year-end, with ₹43,622.55 lakh expected to convert within one year.

• Continued export development, capacity augmentation and value engineering were identified as priorities; additional product plans include reheating furnaces and critical assemblies for global contracts.

• Chairman’s outlook cited infrastructure spending and steel-demand growth above 7% in India for both 2019 and 2020, alongside a challenging and uncertain business environment.