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JNK India Ltd (JNKINDIA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544167 NSE: JNKINDIA Engineering - Industrial Equipments | Small Cap | JNK India Share Price

₹484.70 7.75 (1.62%)

As on 03-Jul'26 16:59

JNK India Ltd (JNKINDIA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544167 NSE: JNKINDIA Engineering - Industrial Equipments | Small Cap | JNK India Share Price

₹484.70 7.75 (1.62%)

As on 03-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,712 Cr.
Current Price
₹484.7
52-Week Low / High
₹202 / 520
TTM EPS
₹11.6
TTM Sales
₹756 Cr.
Book Value per Share
₹101.3
P/E Ratio
41.81
Lower than its 5-year historical median
Industry PE
57.8
Price to Book (P/B)
4.79
Higher than its 5-year historical median
Price to Sales (P/S)
3.59
Lower than its 5-year historical median
EV/EBITDA
23.89
Lower than its 5-year historical median
Dividend Yield
0.06%
Profitability Efficiency
Return on Equity (ROE)
8.82%
Underperforms industry median
Return on Capital Employed (ROCE)
15.42%
Outperforms industry median
Return on Assets (ROA)
4.66%
Operating Profit Margin
9%
Net Profit Margin
6.37%
Gross Profit Margin
10.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-0.84%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-57.77%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-51.18%
Asset Quality
Promoter Holding
67.79%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹555 Cr.
Equity
₹11.2 Cr.
Face Value
₹2
All Time Low / High
₹201.60 / 895.40

JNK India stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is JNK India Ltd a good quality company?
JNK India Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does JNK India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of JNK India Ltd vs industry peers?
JNK India Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 3.04%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of JNK India Ltd?
Promoters hold 67.79% of the JNK India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of JNK India Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of 7.8% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
JNK India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 53.2%83.3%58.1%48.3%15.4%-
Value Creation
Index
2.85.03.22.50.1-

Growth Parameters

Sales 122289405477473756
Sales YoY Gr.-137.9%40.2%17.8%-0.8%-
Adj EPS 3.47.59.712.85.411.6
YoY Gr.-118.4%29.8%31.2%-57.6%-
BVPS (₹) 7.71524.437.789.8101.3
Adj Net
Profit
16.53646.661.730.265
Cash Flow from Ops. 13.232.8-7.6-9.6-65.5-
Debt/CF from Ops. 0.70.2-4.5-5.7-0.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANA17.9%-0.8%
Adj EPS NANA-10.3%-57.6%
BVPSNANA81.4%137.8%
Share Price - - - 44.9%

Key Financial Parameters

Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
44.76647.938.98.612.1
Op. Profit
Mgn %
20.718.517.321.1911.6
Net Profit
Mgn %
13.612.411.512.96.48.6
Debt to
Equity
0.20.10.30.300
Working Cap
Days
0197215276392155
Cash Conv.
Cycle
0871169815096

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25
Sales122289405477473
Operating Expenses + 96236335376431
Manufacturing Costs12321137497
Material Costs2593139224254
Employee Cost 1926384238
Other Costs 4084453741
Operating Profit 25547010143
Operating Profit Margin (%) 20.7%18.5%17.3%21.1%9.0%
Other Income + 114322
Exceptional Items 00000
Interest 2451014
Depreciation 13666
Profit Before Tax 2348638844
Tax 612162614
Profit After Tax 1636476230
PAT Margin (%) 13.6%12.4%11.5%12.9%6.4%
Adjusted EPS (₹)3.47.59.712.85.4
Dividend Payout Ratio (%)3.60%26.70%3.10%2.40%5.60%

Valuation of JNK India - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 3772117183501
Share Capital 110101011
Reserves 3663108173490
Debt +9633533
Long Term Debt03333
Short Term Debt9330510
Minority Interest00000
Trade Payables244641150113
Others Liabilities 47143144124166
Total Liabilities 117267335511782

Fixed Assets

Net Fixed Assets +320212329
Gross Block726313949
Accumulated Depreciation36111520
CWIP 00036
Investments 011000
Inventories562828343
Trade Receivables54110114229338
Cash Equivalents 12254628185
Others Assets 433871143181
Total Assets 117267335511782

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 1333-8-10-66
PBT 2348638844
Adjustment 6814258
Changes in Working Capital -11-11-69-110-87
Tax Paid -5-12-15-12-31
Cash Flow From Investing Activity + -8-25-24-15-14
Capex -4-19-7-8-8
Net Investments -5-6-18-5-18
Others 011-112
Cash Flow From Financing Activity + -062514218
Net Proceeds from Shares 0000300
Net Proceeds from Borrowing -02100
Interest Paid -1-2-3-6-11
Dividend Paid -1-1-1-1-2
Others 262921-69
Net Cash Flow 514-7-10139

Financial Ratio

PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)44.7665.9849.2241.168.82
ROCE (%)53.1883.2558.1448.2715.42
Asset Turnover Ratio1.041.511.351.130.73
PAT to CFO Conversion(x)0.810.92-0.17-0.16-2.2
Working Capital Days
Receivable Days162.10103.50101131.20218.60
Inventory Days15.6042.7065.1063.2048.60
Payable Days349.20137.10113.40155.40188.80

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.260.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

JNK India Ltd FAQs

The current trading price of JNK India on 03-Jul-2026 16:59 is ₹484.7.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 02-Jul-2026 the market cap of JNK India stood at ₹2,712.1 Cr

The latest P/E ratio of JNK India as of 02-Jul-2026 is 41.81.

The latest P/B ratio of JNK India as of 02-Jul-2026 is 4.79.

The 52-week high of JNK India is ₹520.5 and the 52-week low is ₹201.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of JNK India is ₹756 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that JNK India Ltd is a average quality company.

The key valuation ratios of JNK India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of JNK India Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About JNK India Ltd

JNK India Limited was incorporated as ‘JNK India Private Limited’, a private limited company under the Companies Act, 1956, in Thane, Maharashtra pursuant to a certificate of incorporation dated June 14, 2010 granted by the RoC. Pursuant to the conversion of the Company from a private limited company into a public limited company and as approved by its Board on April 12, 2023, and a special resolution passed by its Shareholders at the EGM on April 14, 2023, the name of the Company was changed to “JNK India Limited”, and the RoC issued a fresh certificate of incorporation on May 26, 2023.

The company is in the business of manufacturing the process fired heaters, reformers and cracking furnaces (together, the ‘Heating Equipment’) that are required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. It has capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning Heating Equipment and caters to both domestic and overseas market. The Indian heating equipment market is closely competed among seven companies with the Company and Thermax being the most prominent and comparable players. Over the years it has diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen. 

The company’s business model involves collaboration with its customers, from the initial consultation, specification and design stage to the final installation of the Heating Equipment. Due to its long-standing relationship with customers and its capability to provide customized solutions with a proven track record in product development and execution catering to the diverse needs of its customers, it has a competitive advantage, since there are very few competitors with similar capabilities. It has catered to overseas customers such as a leading engineering, procurement and construction (EPC) company in Europe, a leading oil & gas exploration & Production Company in Oman and a Middle East arm of European EPC Company in oil and gas. Also it has enjoyed repeat orders from certain large domestic customers such as Rashtriya Chemical & Fertilizers, Tata Projects, Numaligarh Refinery and Indian Oil Corporation. 

Business area of the company

The company is in the business of manufacturing the process fired heaters, reformers and cracking furnaces (together, the Heating Equipment) that are required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. It has capabilities in thermal designing, engineering, manufacturing, supplying, installing and commissioning Heating Equipment and caters to both domestic and overseas market.

Awards, accreditations and recognitions

  • 2020: Appreciation for the early completion of supply heaters work for MS block revamp at Numaligarh Refinery Limited.
  • 2021: Received ISO 9001:2015 accreditation for its quality management system at its registered office. 
  • 2021: Received ISO 14001:2015 accreditation for its environment management system at its registered office. 
  • 2022: Received ISO 45001:2018 accreditation for its occupational health and management system at its registered office. 
  • 2022: Selected for Niryat Shree - Silver Trophy in the Service Provider Category at the 17th set of awards hosted by the Federation of Indian Export Organisations. 
  • 2022: Certificate of appreciation from Dangote Petroleum Refinery and Petrochemicals, Nigeria for contribution, dedication, commitment towards safety compliance and campaign performance. 
  • 2022: Certificate of appreciation from Dangote Petroleum Refinery and Petrochemicals, Nigeria for providing four million safe man-hours without a lost time incident and recognizing the effective contribution towards installation of process fired heaters.

History and milestones 

  • 2010: Incorporation of the Company. 
  • 2019: First purchase order for erection work in Nigeria. 
  • 2021: Received its first purchase order for supply of natural gas and bio - compressed natural gas reformingbased hydrogen infrastructure for refuelling fuel cell buses. 
  • 2021: Received letter of approval for setting up of its manufacturing unit in Mundra, Gujarat (SEZ). 
  • 2021: Received first purchase order for flare systems, in Nigeria.
  • 2022: Incorporation of its subsidiary, JNK Renewable Energy Private Limited. 
  • 2023: First sub-contract received for a project in the steel industry. 
  • 2023: Entered into a consortium agreement dated December 18, 2023 with a company to offer their services to prospective customers and clients and co-operate as a consortium on several initiatives for various compressed biogas projects.

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