John Cockerill India Limited · BSE:COCKERILL
John Cockerill India — Q3 2025 Earnings Presentation
49 slides from John Cockerill India's earnings presentation, Nov 6, 2025
Slide 1: BSE filing cover letter for investor presentation
Ref. : JCIL/BSE/2025 Date : November 6, 2025 To The Secretary, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Dear Sir / Madam, Scrip Code: 500147 Sub: Investor Presentation on the Unaudited Financial Results for the quarter and nine months ended September 30, 2025 Ref: Regula
Slide 2: Investor Presentation – November 2025
John Cockerill India Limited Investor Presentation – November 2025 Revolutionising the Steel Industry…
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by John Cockerill India Limited (the “Company” / “JCIL”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe
Slide 4: Financial and Operational Performance Q3 and 9M CY25
Financial and Operational Performance Q3 and 9M CY25 ENGINEERING | DESIGN | MANUFACTURING | ERECTION & COMMISSIONING | AFTER SALES
Slide 5: Chairman's Message
Chairman's Message Commenting on the performance, Mr. Francois-David MARTINO – Chairman said, “After a challenging period characterized by weak pricing, margin compression, and volatile input costs, the global steel industry has demonstrated a tentative, yet broad-based recovery in 2025. The recover
Slide 6: Revenue and Profitability – Quarter-on-Quarter Evolution
Revenue and Profitability – Quarter-on-Quarter Evolution (CY24 – CY25) Improvement every quarter in revenue and profitability over the past year, showcasing resilience, agility, and discipline while navigating a challenging operating environment +28% 933 970 821 Revenue (INR mn) 760 723 764 Q2CY24 Q
Slide 7: Financial Highlights – Q3 and 9MCY25
Financial Highlights – Q3 and 9MCY25 Revenue (INR Mn) EBITDA (INR Mn) PAT (INR Mn) Sharp Turnaround in Profitability Sharp Turnaround in Profitability Key Highlights -19% ❖ Operating environment continues to 3,164 113 128 89 99 improve, with momentum getting stronger. 2,555 The sequential and Y-o-Y
Slide 8: Profit and Loss Statement – Q3 and 9MCY25
Profit and Loss Statement – Q3 and 9MCY25 Profit and Loss Statement (INR Mn) Q3CY25 Q3CY24 Y-o-Y Q2CY25 Q-o-Q 9MCY25 9MCY24 Y-o-Y Revenue from Operations 969.8 760.4 27.5% 821.2 18.1% 2,555.3 3,163.9 -19.2% Raw Material Cost 463.9 497.3 426.6 1,279.3 2,041.4 Gross Profit 506.0 263.1 92.3% 394.5 28.2
Slide 9: Order Wins – 9MCY25
Order Wins – 9MCY25 Approximate Order won in Customer Scope of Work Contract Size (INR Mn) Engineering, design, manufacture and supply of equipment for revamping of Jindal India Limited March 2025 Continuous Galvanising Line (CGL) at Ranihati location, and the supervision of 400 mn (Ranihati) erecti
Slide 10: Proposed Acquisition/Restructuring of John Cockerill Group's Metals Business
Proposed Acquisition/Restructuring of John Cockerill Group’s Metals Business ENGINEERING | DESIGN | MANUFACTURING | ERECTION & COMMISSIONING | AFTER SALES
Slide 11: Strategic transformation anchored in India
Strategic transformation anchored in India Parent Company - John Cockerill SA (JCSA) has incorporated a new company, John Cockerill Metals International Consolidation of John Cockerill Group’s SA (“JCMI”) and to transfer its carved-out Metals Business of Group to JCMI. Metals businesses under JCIL J
Slide 12: Existing Structure
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Slide 13: Proposed Structure (1/4)
J John Cockerill al John Cockerill India (India) John Cockerill IT (China) [“SCNa"] [SC Beijing”) John Cockerill Metals International SA. John Cockerill North America (Belgium) (usa) rscu"] New company incorporated by JCSA John Cockerill Industry NA John Cockerill IT Langfang H (usa) (China) H [“sci
Slide 14: Proposed Structure (2/4)
Proposed Structure (2/4) Carved Out Metal Business 13
Slide 15: Proposed Structure (3/4)
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Slide 16: Proposed Final Structure (4/4)
Proposed Final Structure (4/4) John Cockerill SA (Belgium) [“JCSA”] 75% John Cockerill India (India) [“JCIL”] John Cockerill Metals International SA (Belgium) [“JCMI”] John Cockerill Industry NA John Cockerill IT Beijing John Cockerill UVK (USA)* (China) (Germany) [“JCINA”] [“JC Beijing”] [“JC Germa
Slide 17: Acquisition/Restructuring – Summary
Acquisition/Restructuring – Summary Consideration Expansion Up to EUR 50 Mn. Consolidation To enable & play a pivotal role in expanding Group’s Advance payment in cash To consolidate the Synergies and the balance metal activities in India & ownership interests in Globally and operational considerati
Slide 18: About Us
About Us ENGINEERING | DESIGN | MANUFACTURING | ERECTION & COMMISSIONING | AFTER SALES
Slide 19: Executive Summary
Executive Summary John Cockerill develops large scale industrial solutions with expertise in Designing, Integration, Maintenance and Upgrading equipment • Expertise across – industry, Defense, Energy solutions, Hydrogen and Maintenance services Overview JCIL is John Cockerill Industry’s Indian hub a
Slide 20: Group Overview
Group Overview 200+ years of Experience Headquartered in Seraing (BE), a Belgian based privately-owned industrial group Areas of Expertise Industry Defense Energy Solutions Metallurgic expert and Technology Technological leader in Diversified & combinable partner to major industrial companies multif
Slide 21: Industry Segment Portfolio
Industry Segment Portfolio Global Industry Segment Portfolio Metals Surface Treatment Metals Business Portfolio Processing and Rolling Iron and Steel Making Technology Services and Energy Efficiency A trusted global supplier of sustainable & high-performance solutions for the steelmaking industry 20
Slide 22: John Cockerill - Metals Business
John Cockerill - Metals Business 01* Metals Business Processing & Rolling • Product portfolio for both, carbon and silicon steel • Processing, coating & pickling lines, cold rolling mill, acid regeneration plant, etc. Iron & Steel Making Technology 02 # Operating out of 4 regions (North America, Ser
Slide 23: Key Products
Key Products 01 Processing & Rolling 02 Iron & Steel Making Technology 03 Services & Energy Efficiency • Largely Focused on Downstream • Largely Focused on Upstream Steel • Key focus on revamping existing steel Steel Manufacturing Processes Manufacturing Processes plants • Key Products includes • Vo
Slide 24: Portfolio Focused on Downstream Steel Processes
Portfolio Focused on Downstream Steel Processes Carbon Steel Silicon Steel JC Metals portfolio Continuous Casting Continuous Casting JC Premium/Innovation Technology Slabs Reheat Furnace JC Premium Technology included (*) HOT ROLLNG Reheat Furnace Mini Mill HSM - Hot Strip Mill HSM - Hot Strip Mill
Slide 25: Revolutionary Technology - Jet Vapor Deposition (JVD)
Revolutionary Technology - Jet Vapor Deposition (JVD)* A breakthrough and Innovative Technology on Zinc Coating Process in downstream steel making process An advanced coating process that vaporizes zinc in a vacuum and deposits it onto steel at sonic speeds, creating a uniform, adaptable coating. Ke
Slide 26: Roadmap to Enter Upstream Steel Process
Roadmap to Enter Upstream Steel Process Conventional Routes New Routes Upstream expansion roadmap BF-BOF Scrap-EAF DRI-EAF H2 DRI-EAF Electrolysis H2 JC Premium / Innovation Tech RAW MATERIALS coal iron ore limestone scrap steel electricity iron ore limestone gas iron ore limestone hydrogen iron ore
Slide 27: Volteron
VolteronTM Innovative electrochemical process revolutionising upstream steelmaking - VolteronTM - co-developed by John Cockerill and ArcelorMittal Innovative Process New Technology Platform A first of its kind carbon-free iron extraction and steel The iron plates are processed into steel in an elect
Slide 28: Steel Sector Outlook
Steel Sector Outlook ENGINEERING | DESIGN | MANUFACTURING | ERECTION & COMMISSIONING | AFTER SALES
Slide 29: Global trends
Steel Demand Outlook • Modest growth expected in the global steel demand, mainly driven by infrastructure projects in developing economies. Steel market : regional context • Three megatrends are likely to play a crucial role in the steel sector’s transition pathway to reach net-zero emissions: drivi
Slide 30: Opportunities in India
Opportunities in India Growing demand for steel Policy support o 100% Foreign Direct Investment, hike in export duty on iron ore, etc. are supportive policies. India’s competitiveness Capacity expansions & o Ministry of Steel has set targets to revamping of older capacities + reduce carbon emissions
Slide 31: JCIL and its Growth Strategy
JCIL and its Growth Strategy ENGINEERING | DESIGN | MANUFACTURING | ERECTION & COMMISSIONING | AFTER SALES
Slide 32: John Cockerill India Limited (JCIL)
John Cockerill India Limited (JCIL) Background History / Timelines 1 JCIL is John Cockerill Industry’s Indian hub and center of excellence for cold rolling mill complexes. 1986 Incorporation Incorporated as Flat Product Equipments (India) Limited 2 JCIL is a global leader in the conception, manufact
Slide 33: Manufacturing Sites in India
Manufacturing Sites in India Taloja Hedavali Centre of Excellence for Manufacturing of Cold Rolling Mills with Fabrication, Sandblasting and painting facility Spread across quality norms Spread across 25,000 sq. mt. 1,00,000+ sq. mt. Machining Capacity of 1,800 Assembly Capacity of 1,500 Fabrication
Slide 34: Rolls Coating services – Augmenting JCIL's After-Sale Capabilities
Rolls Coating services – Augmenting JCIL’s After-Sale Capabilities JCIL partners with Advanced Coatings SA to provide high-performance Rolls Coating services in India Advanced Coatings SA (“AC”) Offers Thermal Spray, Grinding and Finishing services to Steel and Aerospace industries Single, State-of-
Slide 35: Growth Drivers
Growth Drivers Innovation & Technology To move from conventional steel manufacturing processes to new routes for better efficiencies (e.g. JVD, Volteron) Market shift Business becomes more regional with local footprint required and effective cost structure Steel Decarbonisation Setting up of new pro
Slide 36: Business Strategy
Business Strategy Establishing a portfolio of technologies in Establish a market relevant portfolio of technologies in green steel, high strength steel and become a 1 steelmaking global Tier 1 steelmaking solutions provider Foray into upstream steel making processes with focus on decarbonization by
Slide 37: Way Forward - Action Plan
Way Forward - Action Plan New technology and enhancing manufacturing Becoming a trustable partner to develop world class steel plant in partnership with a steel maker and showcase the innovation technologies developed/acquired by John Cockerill. Revamping and strengthening customer services Increase
Slide 38: Leadership Team
Leadership Team Mr. Frederic MARTIN Mr. Marc DUMONT Mr. Ujwal KAWALE Managing Director Chief Financial Officer Chief Operating Officer 35+ years of international business 25+ years of finance experience in mfg. & 20+ years of experience in Steel Industry management experience, mainly with engineerin
Slide 39: Board of Directors
Board of Directors Mr. Francois-David MARTINO Mr. Frederic MARTIN Mr. Vivek BHIDE Mr. Frederic LEMAITRE Chairman Managing Director Non-Executive Director Non-Executive Director 25+ years of international management 35+ years of international business 30+ years of international 25+ years of experienc
Slide 40: ESG
ESG ENGINEERING | DESIGN | MANUFACTURING | ERECTION & COMMISSIONING | AFTER SALES
Slide 41: Environment Social Governance (ESG) 1/2
Environment Social Governance (ESG) 1/2 Promoting sustainable downstream Promoting sustainable upstream processes processes This technology requires low energy consumption and fastens the Technologies like - Direct Reduced Iron (DRI) using production by 2x times, thus resulting in lower CO2 emission
Slide 42: Environment Social Governance (ESG) 2/2
Environment Social Governance (ESG) 2/2 JCIL is actively implementing energy conservation measures, such as upgrading equipment and optimizing factory operations. These initiatives aim to reduce reliance on non-renewable energy and Commitment to improve environmental sustainability. Renewable Energy
Slide 43: Historical Performance
Historical Performance ENGINEERING | DESIGN | MANUFACTURING | ERECTION & COMMISSIONING | AFTER SALES
Slide 44: Profit and Loss Statement
Profit and Loss Statement Profit and Loss Statement (INR Mn) CY24 9M ended Dec-23 * FY23 FY22 Revenue from Operations 3,887.3 6,666.3 4,837.0 3,827.8 Raw Material Cost 2,446.8 4,976.2 3,320.3 2,674.1 Material Margin 1,440.5 1,690.0 1,516.7 1,153.7 Material Margin (%) 37.1% 25.4% 31.4% 30.1% Employee
Slide 45: Balance Sheet
Balance Sheet ASSETS (INR Mn) Dec-24 Dec-23 Mar-23 Mar-22 EQUITY AND LIABILITIES (INR Mn) Dec-24 Dec-23 Mar-23 Mar-22 Non-Current Assets Shareholders' Funds Property, Plant and Equipment 474.0 489.1 469.2 484.0 Share Capital 49.4 49.4 49.4 49.4 Capital WIP 47.9 7.2 15.5 6.6 Reserves & Surplus 1,962.
Slide 46: Abridged Cash Flow Statement
Abridged Cash Flow Statement 9M ended Abridged Cash Flow Statement (INR Mn) CY24 FY23 FY22 Dec-23* Profit/(Loss) Before Tax -71.7 260.7 161.8 44.3 Adjustments for Non-Cash and Non-Operational Expenses / (Incomes) 49.4 16.0 -59.5 -22.6 Operating Profit / (Loss) Before Working Capital Changes -22.3 27
Slide 47: Historical Performance
Historical Performance Revenue (INR Mn) EBITDA (INR Mn) Profit Before Tax (INR Mn) 6,666 261 261 4,837 162 3,828 3,887 95 66 44 FY22 FY23 9M ended CY24 -38 -72 Dec-23* FY22 FY23 9M ended CY24 FY22 FY23 9M ended CY24 Dec-23* Dec-23* Material Margin (%) EBITDA Margin (%) Profit After Tax (INR Mn) 37.1
Slide 48: Key Ratios
Key Ratios Working Capital Days Return on Assets (%) Dividend Payout (%) 41 2.6% 21% 2.2% 19% 16% 1.2% -5 -24 0% -56 -0.8% FY22 FY23 9M ended CY24 FY22 FY23 9M ended CY24 FY22 FY23 9M ended CY24 Dec-23* Dec-23* Dec-23* Return on Capital Employed (%) Return on Equity (%) Return on Invested Capital (%
Slide 49: Thank You..
Thank You.. For more information, please contact Company: Investor Relations Advisor: John Cockerill India Limited Strategic Growth Advisors Pvt. Ltd. CIN - L99999MH1986PLC039921 CIN - U74140MH2010PTC204285 Mr. Ashish Mangulkar Mr. Sagar Shroff / Mr. Tanay Shah investors.jcil@johncockerill.com sagar