As required under Regulation 30 and 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Annual Report of the Company for ....
COCKERILL · price
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John Cockerill India has submitted its Annual Report for the year ended December 31, 2024, along with the notice for its 39th AGM scheduled for May 14, 2025 in Mumbai. Key financials show a challenging year: turnover declined 42% to ₹388.73 crore and operating profit (PBDIT) fell sharply by 97% to just ₹1.09 crore, though new order inflows stood at ₹308.8 crore and closing order book was over ₹680.8 crore. The company highlighted milestones including an MoU with SAIL for electrical steel collaboration, a major order from Jindal (India) for a Colour Coating Line, and successful commissioning of Tata Steel's Continuous Annealing Line at Kalinganagar. Share price rose 36.45% during the year, and the company inaugurated a new Mumbai headquarters in September 2024. The AGM notice includes shareholder approvals for material related party transactions worth up to ₹30,000 lakhs combined with the parent (John Cockerill SA) and group entities.
Shareholders should note the sharp decline in revenue and profitability despite a healthy order book, suggesting execution and margin pressures that the management is working to address. The AGM will seek approval for significant related party transactions with the parent group, which warrant attention as they could affect the company's independence and pricing dynamics.