Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Investor Presentation for ....
COCKERILL · price
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John Cockerill India filed its investor presentation for Q1CY25, reporting a sharp revenue decline of 48% YoY to INR 764.2 mn, with the company slipping to an EBITDA loss of INR 4.4 mn and a PAT loss of INR 7.5 mn. However, material margin improved significantly from 32.1% to 49.1% (up 1,700 bps), reflecting better operational efficiency and a renewed focus on the higher-margin Spares & Services segment. The company won a new order worth INR 400 mn during the quarter, taking the order book to INR 6,561 mn as of March 31, 2025. Management noted that steel prices appear to have bottomed out, government capex is gradually picking up post-elections, and they expect profitability to improve in CY25 driven by demand revival and decarbonization initiatives. Key strategic priorities include expanding the Taloja facility, advancing JVD and Volteron green-steel technologies, and exploring JVs/inorganic opportunities in upstream steelmaking.
Near-term results remain weak with continued losses, but the strong material margin expansion and improving order enquiry pipeline suggest the worst may be behind. Stock sentiment could get a modest boost from the order book visibility and management's confidence in a CY25 recovery, though investors should monitor execution on the SAIL partnership and upstream expansion roadmap.