Jyoti CNC Automation (JYOTICNC) Q2 24/25 earnings summary

Executive summary

• Q2 FY25 revenue grew 43% year-over-year to INR 4,307 million, with EBITDA margin rising to 25% and PAT up 353% to INR 759 million.

• H1 FY25 revenue increased 55% year-over-year to INR 7,925 million, with EBITDA margin at 25% and PAT at INR 1,268 million.

• Order intake for Q2 FY25 was INR 12,826 million, supporting a record order book of INR 42,893 million as of September 30, 2024.

• Major verticals: aerospace, auto & auto components, EMS, and general engineering, with aerospace and EMS expected to drive future growth.

• Announced major capacity expansion to 16,000 machines per annum, with INR 400 crore investment over two years.

Financial highlights

• Q2 FY25 EBITDA rose to INR 994 million, up 82% year-over-year, with margin improving to 25%.

• H1 FY25 CapEx surged to INR 127 crores from INR 3.4 crores last year.

• Gross margin for entry-level products is ~40%, mid-range and high-end at ~45%.

• Finance costs declined 64% year-over-year in Q2 FY25.

• Total assets as of H1 FY25 stood at INR 22,052 million, with equity of INR 14,486 million.

Outlook and guidance

• FY25 revenue guidance is INR 2,000–2,400 crores, with order inflow guidance at INR 2,500–3,000 crores.

• Capacity expansion to 16,000 machines (6,000 existing + 10,000 new) by end of FY26.

• Strategic focus on market expansion in the USA and South Asia, and product development aligned with global trends.

• Aerospace, EMS, electric vehicles, and semiconductor sectors targeted for growth.