John Cockerill India Ltd
John Cockerill India Ltd, incorporated in 1986, has been engaged in the designing, manufacturing, and commissioning of cold rolling mill complexes, processing lines, chemical equipment, industrial furnaces and auxiliary equipment for ferrous and non-ferrous industries worldwide. The Co. is part of the John Cockerill Group (previously known as the CMI group) headquartered in Belgium. It has two manufacturing facilities at Taloja and Hedavali, both in Maharashtra and has a global footprint across Asia, Africa, Middle East, Europe, North America and South America. The Co. was previously known as CMI FPE Limited and the name was changed to John Cockerill India Limited on June 16, 2020 [1] [2]
- Market Cap ₹ 2,438 Cr.
- Current Price ₹ 4,938
- High / Low ₹ 6,660 / 2,425
- Stock P/E 120
- Book Value ₹ 426
- Dividend Yield 0.14 %
- ROCE 12.2 %
- ROE 9.90 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
Cons
- Stock is trading at 11.6 times its book value
- Promoter holding has decreased over last quarter: -4.56%
- The company has delivered a poor sales growth of -0.76% over past five years.
- Company has a low return on equity of 5.95% over last 3 years.
- Company has high debtors of 226 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Manufacturing Industrial Products
Part of BSE Allcap BSE Industrials
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Dec 2023 9m | Mar 2024 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 205 | 153 | 305 | 496 | 372 | 198 | 383 | 484 | 667 | 389 | 389 | 358 | |
| 201 | 153 | 300 | 465 | 348 | 225 | 369 | 475 | 640 | 393 | 392 | 335 | |
| Operating Profit | 4 | -0 | 5 | 32 | 23 | -27 | 14 | 9 | 27 | -4 | -4 | 23 |
| OPM % | 2% | -0% | 2% | 6% | 6% | -13% | 4% | 2% | 4% | -1% | -1% | 6% |
| 23 | 14 | 15 | 21 | 14 | 2 | 2 | 14 | 6 | 5 | 5 | -2 | |
| Interest | 2 | 1 | 1 | 0 | 3 | 0 | 7 | 2 | 2 | 2 | 2 | 3 |
| Depreciation | 6 | 5 | 6 | 6 | 6 | 5 | 5 | 5 | 4 | 6 | 6 | 6 |
| Profit before tax | 20 | 8 | 13 | 47 | 29 | -30 | 4 | 16 | 26 | -7 | -7 | 11 |
| Tax % | 33% | 26% | 49% | 25% | 18% | -4% | -5% | 20% | 17% | -25% | -25% | 9% |
| 13 | 6 | 7 | 35 | 24 | -29 | 5 | 13 | 22 | -5 | -5 | 10 | |
| EPS in Rs | 26.57 | 11.73 | 13.61 | 71.08 | 48.10 | -58.85 | 9.40 | 26.10 | 43.83 | -10.90 | -10.90 | 20.88 |
| Dividend Payout % | 0% | 0% | 29% | 14% | 10% | 0% | 21% | 19% | 16% | 0% | -64% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | -1% |
| 3 Years: | -2% |
| TTM: | -8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | -4% |
| 3 Years: | 32% |
| TTM: | 492% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 29% |
| 5 Years: | 44% |
| 3 Years: | 50% |
| 1 Year: | 99% |
| Return on Equity | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 2% |
| 3 Years: | 6% |
| Last Year: | 10% |
Balance Sheet
Figures in Rs. Crores
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Dec 2023 | Mar 2024 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | |
| Reserves | 146 | 147 | 153 | 186 | 202 | 170 | 175 | 187 | 206 | 196 | 205 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 5 | 5 | ||
| 133 | 128 | 257 | 397 | 243 | 283 | 160 | 658 | 615 | 372 | 470 | ||
| Total Liabilities | 284 | 280 | 415 | 588 | 451 | 458 | 340 | 851 | 828 | 578 | 685 | |
| 68 | 63 | 60 | 60 | 58 | 54 | 51 | 50 | 53 | 57 | 57 | ||
| CWIP | 1 | 0 | 2 | 1 | 1 | 0 | 1 | 2 | 1 | 5 | 1 | |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 214 | 217 | 353 | 528 | 392 | 404 | 289 | 799 | 774 | 516 | 627 | ||
| Total Assets | 284 | 280 | 415 | 588 | 451 | 458 | 340 | 851 | 828 | 578 | 685 |
Cash Flows
Figures in Rs. Crores
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Dec 2023 | Mar 2024 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -10 | 60 | 90 | -38 | -58 | -21 | 26 | 71 | 17 | -66 | 159 | ||
| 19 | 1 | -29 | 26 | -0 | 2 | -19 | -7 | 10 | 2 | -81 | ||
| -27 | -0 | -0 | -2 | -6 | -3 | -0 | -1 | -3 | -5 | -2 | ||
| Net Cash Flow | -18 | 61 | 60 | -14 | -64 | -22 | 7 | 62 | 24 | -69 | 75 |
Ratios
Figures in Rs. Crores
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Dec 2023 | Mar 2024 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 217 | 98 | 108 | 79 | 76 | 235 | 115 | 101 | 115 | 184 | 226 | |
| Inventory Days | 74 | 99 | 26 | 13 | 25 | 40 | 13 | 26 | 14 | 31 | 36 | |
| Days Payable | 212 | 192 | 99 | 91 | 160 | 319 | 99 | 305 | 234 | 216 | 328 | |
| Cash Conversion Cycle | 79 | 5 | 35 | 1 | -59 | -44 | 29 | -179 | -106 | -1 | -66 | |
| Working Capital Days | 132 | 10 | -39 | -0 | 50 | 143 | 40 | -1 | -31 | 22 | -81 | |
| ROCE % | 5% | 5% | 10% | 27% | 16% | -15% | 9% | 10% | 14% | -2% | 12% |
Insights
In beta| Mar 2021 | Mar 2022 | Dec 2023 | Dec 2024 | |
|---|---|---|---|---|
| Number of Employees (India) Count |
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| Order Intake INR Million |
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| Assembly Capacity (Taloja) Products / Year |
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| Fabrication Capacity (Hedavali) MT / Year |
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| Machining Capacity (Taloja) Components / Year |
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| Order Book INR Million |
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| Safe Working Days (Hedavali) Days |
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| Safe Working Days (Taloja) Days |
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| Training Man-hours Hours |
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Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
27 Feb - Secretarial compliance report; promoter John Cockerill SA sold 195,714 (5.29%) Dec 22-26 and 29,286 (0.84%) Dec 29-31, 2025.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
27 Feb - Pursuant to regulation 30, 33 and 46 of the SEBI (LODR) Regulation 2015and in continuation to our letter dated February 26, 2026 with regard to …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
26 Feb - Audio recording of earnings call for quarter/year ended Dec 31, 2025 available on company website (Feb 26, 2026).
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Record Date For Final Dividend For Fy 2025
26 Feb - Board recommends Rs.7/share final dividend; record date March 6, 2026; subject to AGM approval.
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Corporate Action-Board approves Dividend
26 Feb - Audited FY2025 results approved; Rs7/share final dividend recommended; €29.87m acquisition; arbitration notice; PwC internal auditor appointed.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Feb 2026TranscriptAI SummaryPPT REC
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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May 2025Transcript PPT
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Feb 2025TranscriptAI SummaryPPT
Products and Services
The company offers products and services like the installation of cold-rolling mills, galvanizing lines, color-coating lines, tension-leveling lines, skin-pass mills, acid regeneration plants, wet-flux lines, and pickling lines for ferrous and non-ferrous industries worldwide. [1]