John Cockerill India Q2 FY26: Revenue Surges 82%, Standalone
John Cockerill India Ltd has reported a robust performance for the second quarter of fiscal year 2026, with standalone revenue surging by an impressive 82% year-on-year. According to the company's latest financial results, the standalone revenue for the quarter stood at ₹1,024 crore, up from ₹563 crore in the corresponding quarter of the previous fiscal. This strong growth was driven by a healthy order book and timely execution of projects across its core segments of capital equipment and services.
The company's operational performance also improved significantly. EBITDA for the quarter came in at ₹148 crore, registering a growth of 76% compared to ₹84 crore in the year-ago period. The EBITDA margin improved to 14.4% from 14.9% in Q2 FY25, reflecting a slight contraction due to input cost pressures, but still indicating healthy operational leverage. Net profit for the quarter jumped 89% to ₹96 crore from ₹51 crore in the same quarter last year, aided by higher revenue and stable other income.
Analysts note that the company's strong order intake and diversified project pipeline have positioned it well for sustained growth in the coming quarters.
On a standalone basis, the company's order book as of September 30, 2025, stood at ₹3,850 crore, providing good revenue visibility for the next 2-3 years. The company also highlighted that it won new orders worth ₹1,150 crore during the quarter, across domestic and international markets. The management attributed the growth to increased capital expenditure in the metals and mining sectors, along with a rise in demand for energy-efficient equipment.
In terms of segmental performance, the capital goods segment contributed the bulk of revenue, accounting for around 78% of total standalone revenue, while the services segment contributed the remaining 22%. The services segment grew at a faster pace, with revenue up 95% year-on-year, reflecting higher demand for aftermarket services and maintenance contracts. The company's international business also remained strong, with exports constituting about 35% of total revenue during the quarter.
| Financial Metric | Q2 FY26 | Q2 FY25 | Change (%) |
|---|---|---|---|
| Standalone Revenue (₹ crore) | 1,024 | 563 | +82% |
| EBITDA (₹ crore) | 148 | 84 | +76% |
| Net Profit (₹ crore) | 96 | 51 | +89% |
| Order Book (₹ crore) | 3,850 | — | — |
Looking ahead, the company expects to maintain a growth trajectory, driven by continued investments in infrastructure and industrial modernization. However, analysts caution that rising input costs and supply chain disruptions could pose headwinds. The company's focus on cost optimization and technological innovation is likely to mitigate some of these risks. With a strong balance sheet and a robust order pipeline, John Cockerill India remains well-positioned to capitalize on the growing demand for capital goods in India and abroad.
For investors, the stock has shown resilience, with a 52-week high of ₹1,450 and a low of ₹780. The company's market capitalization stands at approximately ₹5,200 crore. Given the strong fundamentals and growth prospects, many analysts maintain a positive outlook on the stock, though they advise monitoring global economic conditions and commodity prices.
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