John Cockerill India Ltd
John Cockerill India Limited, incorporated in 1986 as Flat Products Equipment India Ltd., became part of the Belgium-based John Cockerill Group in 2008 and is engaged in designing, manufacturing, and installing equipment such as cold-rolling mills, galvanising lines, pickling lines, and processing systems for ferrous and non-ferrous industries globally.[1]
- Market Cap ₹ 2,615 Cr.
- Current Price ₹ 5,272
- High / Low ₹ 6,660 / 2,713
- Stock P/E 128
- Book Value ₹ 426
- Dividend Yield 0.13 %
- ROCE 12.2 %
- ROE 9.90 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
Cons
- Stock is trading at 12.4 times its book value
- 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.
- Promoter holding has decreased over last 3 years: -4.56%
* 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 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: | 26% |
| 5 Years: | 41% |
| 3 Years: | 33% |
| 1 Year: | 87% |
| 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 | |
| Free Cash Flow | 4 | 61 | 85 | -43 | -60 | -22 | 24 | 66 | 14 | -77 | 156 | |
| CFO/OP | -102% | -96,300% | 1,737% | -89% | -247% | 76% | 197% | 803% | 78% | 1,783% | 710% |
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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Extracted by Screener AI
Documents
Announcements
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Update on board meeting
23h - Board meeting on May 18, 2026 to consider fund raising via equity, debt or related instruments.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Please find attached intimation under reg 30 of SEBI LODR Regulations with respect to Investors Meet.
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Board Meeting Intimation for Consideration Of Un-Audited Financial Results (Standalone & Consolidated) For The Quarter Ended March 31, 2026
11 May - Board meeting on May 18, 2026 to approve Q4 FY26 unaudited standalone and consolidated results.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
15 Apr - JSW Steel Coated Products awarded a ₹300 crore CGL#3 contract, executable by May 2028.
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Announcement under Regulation 30 (LODR)-Credit Rating
11 Apr - CARE reaffirmed JCIL’s BBB/A3+ ratings, placing them on watch after JCMI acquisition completion and ₹320 crore consideration.
Annual reports
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Financial Year 2024
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Financial Year 2024
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Financial Year 2023
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Financial Year 2023
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Financial Year 2022
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Financial Year 2022
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Financial Year 2021
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Financial Year 2021
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Financial Year 2020
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Financial Year 2020
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Financial Year 2019
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Financial Year 2019
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Financial Year 2018
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Financial Year 2018
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Financial Year 2017
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Concalls
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Mar 2026Transcript PPT 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
Group Company[1]
John Cockerill India Limited is a subsidiary of the Belgium-based John Cockerill Group, which holds 70.33% as of Dec'25, and has over 3 decades of experience in manufacturing and commissioning equipment for steel, industrial processing, energy, defence, and engineering sectors.