JNK India Wins Rs 350-500 Crore Contract From Reliance

JNK India Limited, established in 2010, specializes in designing, manufacturing, supplying, and installing process-fired heaters, reformers, and cracking furnaces. Recently, the company secured a significant contract from Reliance Industries Limited on June 14, 2024. This contract, valued between Rs 350 crore and Rs 500 crore, pertains to the Gas Cracker Unit De-Bottlenecking Project at Reliance's Nagothane Manufacturing Division in Maharashtra, India. The project includes comprehensive responsibilities from design and engineering to procurement, supply, site erection, and technical assistance during commissioning phases.

In terms of market performance, JNK India Limited's shares closed at Rs 675 per share on Friday, reflecting a robust market capitalization of Rs 3754 crore. The stock has shown impressive growth, delivering over a 60 percent return from its IPO issue price of Rs 415 per share.

Financially, the company reported encouraging results for Q4 FY24 with a revenue of Rs 227 crore and an operating profit of Rs 31 crore, translating to a 14 percent operating profit margin. Net profit for the quarter stood at Rs 17 crore. For the full fiscal year FY24, JNK India Limited achieved a revenue of Rs 480 crore, up from Rs 407 crore the previous year, and a net profit of Rs 63 crore, compared to Rs 46 crore in the preceding year.

With these developments, market analysts suggest keeping an eye on JNK India Limited, emphasizing its growth potential in the sector. However, readers are reminded that this information is for informational purposes and not investment advice.

News by Rahul Yelligetti