Pursuant to Regulation 30 of SEBI LODR Regs, 2015, please find attached intimation with respect to change in management of the Company.
COCKERILL · price
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John Cockerill India's board has approved the unaudited Q1 FY26 results (quarter ended June 30, 2026) along with the appointment of Mr. Deepak Prabhakar Chindarkar as the new CFO and KMP, effective August 24, 2026, replacing Mr. Marc Dumont who has resigned. Mr. Chindarkar brings 36 years of finance leadership, including a stint as CFO of Grindwell Norton Ltd (Saint-Gobain Group) and was a Financial Express CFO of the Year awardee in 2022. On a standalone basis, revenue from operations jumped sharply to Rs 14,918 lakhs (vs Rs 8,212 lakhs in Q1 FY25), but the company swung to a net loss of Rs 458 lakhs from a profit of Rs 333 lakhs in the year-ago quarter, with EPS at Rs (9.27). On a consolidated basis, revenue rose to Rs 29,856 lakhs but the net loss widened to Rs 3,137 lakhs (vs Rs 1,503 lakhs loss in Q1 FY25). Other equity on a consolidated basis is now negative at Rs (10,061) lakhs. The company also completed the first tranche (Euro 5 million) of its acquisition of John Cockerill Metals International SA, Belgium for a total consideration of Euro 29.67 million, which materially expanded the consolidated group and contributed to the wider losses.
The CFO transition to a seasoned external hire is positive, but Q1 FY26 shows a sharp swing to losses despite strong revenue growth, and the consolidated balance sheet has slipped into negative other equity — a key red flag for shareholders. Investors should watch for margin recovery in coming quarters and monitor the arbitration case related to the Cold Rolling Mill supply.