JNK India Surges 5% on Securing Major HPCL Contract

JNK India, a leading manufacturer of heating equipment, hit the upper circuit limit of 5% at Rs 770.30 after announcing a significant contract win from Hindustan Petroleum Corporation Limited (HPCL). The contract, valued between Rs 150 crore and Rs 350 crore, involves setting up a new HP TDAE (Treated Distillate Aromatic Extracts) process plant at the HPCL Mumbai Refinery on a lump sum turnkey (LSTK) basis.

The project is expected to be completed within 14 months, further solidifying JNK India’s position in the oil and gas sector. This deal marks a significant milestone for the company, which has been expanding its portfolio to include flares, incinerator systems, and renewable energy capabilities, particularly in green hydrogen.

JNK India has reported robust financial performance, with a 56.2% year-on-year increase in consolidated net profit to Rs 16.65 crore in Q4 FY24. The company's revenue from operations also saw a substantial rise, reaching Rs 226 crore in Q4 FY24 compared to Rs 107.40 crore in the same quarter last year.

This contract win is expected to further boost JNK India's growth trajectory, reinforcing its role as a key player in the industrial heating and renewable energy sectors.

News by Rahul Yelligetti