# JNK India share price today (JNK India Ltd, NSE: JNKINDIA)

> JNK India share price today: ₹390.60 at the NSE close on 3 November 2026, up 33.5% in a year. JNK India (NSE: JNKINDIA) is worth ₹2,188 crore, trades at a P/E of 29.1 and has closed between ₹214.84 and ₹509.35 over the past 52 weeks. > JNK India Ltd's results are improving, while its P/E is near the low end of its own history over 2.5 years, higher than only 4% of past readings. JNKINDIA · Capital Goods - Engineering Heavy · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/jnk-india-ltd

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## Key numbers

- Business trend: Turning around, from fewer quarters than usual
- Price: ₹390.60 (+33.5% in a year)
- P/E: 29.1× (lower than 96% of the last 2.5 years)
- Revenue (Jun 2026): ₹180 Cr (+81.6% on a year ago)
- Profit (Jun 2026): ₹9.6 Cr (+752.2% on a year ago)
- Operating margin: 8.8% (+5.5 points on a year ago)
- ROCE: 17%, FY26
- ROIC: 15.9%, against a 12.0% cost of capital: +3.9 points

The main question: profits are rising, but only −49% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the JNK India share price today? JNK India Ltd's share price was ₹390.60 at the close on 3 November 2026. It has been rising for 25 weeks. That is 0.3% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹215 and ₹509, and at that close it sat 60% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row. Over the last 2.5 years the share price moved −39% while the NIFTY 500 moved +6%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at JNK India this quarter? 1. Foreign funds (FIIs) cut their stake for 9 quarters in a row From 3.5% to 0.2% of the company by the September 2026 quarter. 2. Indian funds and insurers (DIIs) cut their stake for 8 quarters in a row From 18.7% to 10.7% of the company by the September 2026 quarter. ## What are JNK India's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), JNK India reported revenue of ₹180 crore, up 81.6% from ₹99.1 crore a year earlier, and a profit of ₹9.63 crore, up 752.2% from ₹1.13 crore. ### JNK India results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹180 crore | ₹99.1 crore | +81.6% |
| Profit | ₹9.63 crore | ₹1.13 crore | +752.2% |
| Earnings per share | ₹2.05 | ₹0.20 | +925.0% |
| Operating margin | 8.8% | 3.3% | +5.5 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). JNK India's management discussed these results on a call held on 12 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the JNK India share price history? JNK India closed at ₹390.60 on 3 November 2026, up 33.5% from ₹292.50 a year earlier (31 October 2025). Its highest weekly close since May 2024 was ₹882.65 on 5 July 2024. ### JNK India share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹374.40 | +4.3% |
| 1 month ago · 1 Oct 2026 | ₹432.70 | −9.7% |
| 6 months ago · 30 Apr 2026 | ₹360.66 | +8.3% |
| 1 year ago · 31 Oct 2025 | ₹292.50 | +33.5% |
| Earliest weekly close in our records · 3 May 2024 | ₹638.90 | −38.9% |
| Highest weekly close since May 2024 · 5 Jul 2024 | ₹882.65 | −55.7% |
| Lowest weekly close since May 2024, also the 52-week low · 23 Jan 2026 | ₹214.84 | +81.8% |
| 52-week high (weekly close) · 10 Jul 2026 | ₹509.35 | −23.3% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (138 weekly closes from 3 May 2024 to 3 November 2026.)

## What is the latest news on JNK India? 3 Nov 2026: JNK India closed at ₹390.60, up 4.3% on the week and down 9.7% on the month. 18 Sep 2026: ex-date for a dividend of ₹0.30 a share. ### Earlier

- 12 Aug 2026: JNK India held its results call for April to June 2026. Management guided: FY27 consolidated revenue growth around 20-25%. - Results for April to June 2026: Revenue up 81.6% and profit up 752.2% on a year earlier. - Our read, 31 May 2026: FY26 revenue grew 68% on a year earlier to ₹838 crore with profit up 114.6%, margin normalized to 14 to 15% operating profit after legacy PSU drag cleared. The ₹1,961 crore order book (2-year runway) and ₹4,000 crore export bid pipeline give multi-year revenue visibility at current execution pace of ₹900 to 1,000 Cr/year. Capital adequacy reliance on Korea parent for bank guarantees, operating cash flow barely positive after three negative years, and Dangote closure timing are the three open risks that determine whether FY27 25 to 30% guidance materializes. ### Our read of the business

FY26 revenue grew 68% on a year earlier to ₹838 crore with profit up 114.6%, margin normalized to 14 to 15% operating profit after legacy PSU drag cleared. The ₹1,961 crore order book (2-year runway) and ₹4,000 crore export bid pipeline give multi-year revenue visibility at current execution pace of ₹900 to 1,000 Cr/year. Capital adequacy reliance on Korea parent for bank guarantees, operating cash flow barely positive after three negative years, and Dangote closure timing are the three open risks that determine whether FY27 25 to 30% guidance materializes. Latest quarter: Margin normalization complete, operating profit 15.2%, profit ₹33 crore (+149.5% on a year earlier); FY26 closes as breakout year. (Our read after the latest results, written 31 May 2026.)

## What dividend does JNK India pay? JNK India paid ₹0.30 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.08% at the ₹390.60 close on 3 November 2026. The last was a dividend of ₹0.30 a share, ex-date 18 September 2026. ### JNK India dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 18 Sep 2026 | ₹0.30 | Dividend |
| 18 Sep 2025 | ₹0.30 | Dividend |
| 21 Oct 2024 | ₹0.30 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 2 of 5 Of the last 5 financial years, years with an NSE dividend record

Not in its latest year. JNK India Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 1 of its last 7 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What did JNK India management say on the latest results call? On the call for April to June 2026, held on 12 August 2026, JNK India's management guided: FY27 consolidated revenue growth around 20-25%. > “Our revenue growth guidance of around 20 to 25 percent remains intact. We also maintain our full year EBITDA margin guidance of about 12 to 14 percent. - Dipak Bharuka”
> CEO & Whole-time Director, on the call for April to June 2026

### What management guided

- FY27 consolidated operating margin about 12-14%. - Three-to-five-year mix goal: heating equipment 60% and allied non-heating businesses 40% of revenue. - Current bid pipeline expected to convert at a 20-25% hit rate and finalise within FY27; refinery and fertilizer awards planned for Q2-Q3. - New-sector bids expected to achieve around 10-12% hit rate initially over the next couple of years. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/57058/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 12 August 2026.)

## What is the future of JNK India? What is changing in the business? What is changing at JNK India, from the latest results and calls: bpcl bina ₹1,050 crore epc execution, dangote nigeria phase 2 refinery + fertilizer orders and legacy order exit margin recovery. - BPCL Bina ₹1,050 crore EPC Execution. Largest single order; majority revenue recognition in FY27 H2 after January to March 2026 booking delay. ⚠ estimate
- Dangote Nigeria Phase 2 Refinery + Fertilizer Orders. Fired heater finalization April to June 2026; fertilizer reformer Q2, October to December 2026, combined $200 to 280M equivalent pipeline. ⚠ estimate
- Legacy Order Exit Margin Recovery. Operating profit 7%→15.2% across FY26 four quarters; legacy drag fully cleared by January to March 2026. ⚠ estimate
- Kemdist Green Hydrogen JV Revenue Ramp. 7% FY26 group revenue contribution in first 6 months; 10 to 15% incremental FY27 goal; margin breakeven near-term. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 31 May 2026.)

## What is JNK India's order book? Order book ₹1,961.4 crore with 97.5% domestic, 2.5% international; 81.6% via JNK Global, 15% direct JNK India, 3.4% Kemdist JV. - Order book split: JNK Global ₹1,600 crore (81.6%), JNK India direct ₹294 crore (15%), Kemdist JV ₹67 crore (3.4%), legacy PSU ~₹40 crore (2%) ✓ fact
- Kemdist JV generated 7% of group revenue in initial six months; FY27 goal 10 to 15% incremental revenue contribution; ₹67 crore order book included in consolidated backlog. ✓ fact
- Legacy order book completion slipped from July to September 2025 guidance to Q3, January to March 2026 actual execution; acknowledged in Nov 2025 call. ✓ fact

(Our read after the latest results, written 31 May 2026.)

## What could change the JNK India story? What are the risks? Three years of negative operating cash flow; FY26 only marginally positive, working capital intensity in EPCC format not yet resolved. ### The main risks

- Operating cash flow Conversion Failure: Three years of negative operating cash flow; FY26 only marginally positive, working capital intensity in EPCC format not yet resolved. ⚠ estimate
- Dangote Order Timing Slippage: Fired heater order expected April to June 2026, delay beyond Q2 signals competitive loss or EIL process delays; material to ₹4,000 crore export narrative. ✓ fact
- Order Book Reporting Discrepancy: Nov-25 order book ₹1,850 crore vs Feb-26 ₹17,700 crore, ~10× difference unattributed to new wins; governance concern. ⚠ estimate
- Domestic PSU Capital spending Cycle Pause: BPCL, IOCL refinery expansions pushed 6 to 12 months on crude pricing uncertainty, domestic order inflow gap in near term. ✓ fact

(Our read after the latest results, written 31 May 2026.)

## What to watch in JNK India's next results? When JNK India reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Consolidated operating margin progression against the annual framework as seasonally stronger execution begins. - What to check (from the call)
- Consolidated operating margin progression against the annual framework as seasonally stronger execution begins. - BPCL Bina execution and Dangote refinery and fertilizer award decisions within the indicated near-term windows. - JNK Chemdist contribution and movement toward year-end profitability as fixed costs are absorbed. - Future export-order approval screening and unbilled-revenue conversion, including any need for higher bank-guarantee limits. ## Which stock lists is JNK India on? JNK India is not on any of our India lists this week. ## Is JNK India profitable? JNK India Ltd earned ₹9.6 Cr of net profit in the Jun 2026 quarter, +752.2% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹65.0 Cr. Over 6 years profit has grown 39.0% a year on average. That is 5.4% of the quarter's revenue. The same quarter a year earlier earned ₹1.1 Cr. For the full year, FY26 profit was ₹65.0 Cr (+116.7% on the year before). Why profit moved: revenue changed +81.6% on a year earlier and the margin moved +5.5 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +372.6% and revenue +86.6%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY26-Q3. 112.8% revenue growth and 534.1% PAT growth; Rs 17,700 Cr order book claim requires unit reconciliation

FY26-Q4. Margin normalization complete, EBITDA 15.2%, PAT Rs 33 Cr (+149.5% YoY); FY26 closes as breakout year

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters. ## How much revenue does JNK India make, and is it growing? JNK India Ltd reported ₹180 Cr of revenue in the Jun 2026 quarter, +81.6% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 6 years it has grown 41.5% a year on average. The last full year, FY26, came in at ₹819 Cr. Why this happened. The BPCL Bina cracking furnace (Rs 1,050 Cr) accounts for 53.5% of the Rs 1,961 Cr consolidated order book. Revenue recognition was delayed from FY26 into FY27, management conceded only a small portion will be booked in Q4 FY26 with the majority in FY27. Execution involves site installation across 2 to 2.5 years; completion goal FY28. This order is the primary H2 FY27 revenue driver and its execution pace determines whether full-year 25 to 30% growth guidance is met. The last four reported quarters add to ₹899 Cr. FY26 revenue was ₹819 Cr, +71.7% on the year before. Recent pace: the last four quarters grew +86.6% on average, against 41.5% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +84.4%, against +30.1% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +193.8%, against +6.1% a year (accelerating). FY26-Q3. 112.8% revenue growth and 534.1% PAT growth; Rs 17,700 Cr order book claim requires unit reconciliation

FY26-Q4. Margin normalization complete, EBITDA 15.2%, PAT Rs 33 Cr (+149.5% YoY); FY26 closes as breakout year

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does JNK India keep? JNK India Ltd's operating margin was 8.8% in the Jun 2026 quarter, 5.5 percentage points higher than the same quarter a year ago. Across 7 years it has been between 9.0% and 21.0%. The latest quarter is below every full year in that period. Why this happened. The margin progression from 7% EBITDA in Q1 FY26 to 15.2% in Q4 FY26 is attributed to two forces: (1) exit of legacy low-margin PSU orders concentrated in Q1, Q2 FY26 execution, (2) input-method revenue recognition on new large-scale contracts improving margin reflection from Q3 onwards. Historical 18 to 20% margins on Rs 50 to 100 Cr equipment-only jobs are structurally unavailable on current Rs 500+ Cr EPCC format. The 14 to 15% ceiling is management's normalized guidance. This catalyst is now completed, margin recovery is baked into the base. Forward risk is margin maintenance, not further expansion. Why the margin moved: operating margin changed +5.5 percentage points on the year while gross margin changed +3.9 points. So the gain came mostly from the gross margin, which means input costs and prices charged. FY26-Q3. 112.8% revenue growth and 534.1% PAT growth; Rs 17,700 Cr order book claim requires unit reconciliation

FY26-Q4. Margin normalization complete, EBITDA 15.2%, PAT Rs 33 Cr (+149.5% YoY); FY26 closes as breakout year

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters. ## Is JNK India's profit turning into cash? Over the last 3 years JNK India Ltd's operations used more cash than they brought in, so cash conversion was −49%, a gap worth watching. In FY26 its operations used ₹2.0 Cr of cash, against ₹65.0 Cr of profit. After ₹30.0 Cr of spending on assets, free cash was −₹32.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why −49% of profit came in as cash: the cash cycle got 151 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 151 days longer. The next section looks at where the cash is stuck. ## Where does JNK India's cash go? JNK India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 11 days in FY26, up from −140 days in FY21. It spent ₹56.0 Cr on assets over the last 3 years. Customers take 154 days to pay, and stock sits for 21 days on average. At FY26 sales of ₹819 Cr, each day of that cycle ties up about ₹2.2 Cr, so roughly ₹25.0 Cr is tied up in the business at any time. FY26: customers took 154 days to pay and stock sat for 21 days, about 0.7 months of sales sitting as stock, for a full cycle of 11 days, longer than FY21's −140. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 21 days. Customers pay about 154 days after that. Suppliers are paid at 164 days. Together that makes the 11-day cycle. Spending on assets: ₹56.0 Cr over the last 3 years, against ₹21.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹8.0 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is JNK India's P/E ratio, and how does it compare with its own history? JNK India Ltd's P/E is 29.1×, near the low end of its own history: it has been lower only 4% of the time. Its usual P/E (the middle reading) is 55.5×, over 2.5 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +113.7% while the price moved +33.5%. Earnings did better than the price, which pulled the multiple down within its own range. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the JNK India share price assume? Worked out from its price on 20 July 2026, JNK India Ltd's share price assumed profit growth of about 23.6% a year. Over the past 6 years its profit actually grew 39.0% a year. Today its P/E is 29.1×, lower than 96% of its own last 2.5 years. This is a one-day reading, taken on 20 July 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the JNK India business getting better or worse? JNK India Ltd's business is turning around. Profit growth has swung from −82.3% at its low to +752.2%, rising from a low 5 quarters ago (from single-quarter figures), with ROCE rising at 20.9%. This is based on 11 quarters of 3 measures, with some gaps. Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the JNK India story, and has it been checked? JNK India Ltd's story is not scored yet against the checks our research set on 31 May 2026. Where it sits in its own cycle: MID CONTRACTION. Still open: Three years of negative OCF; FY26 only marginally positive, working capital intensity in EPCC format not yet resolved

Our read, 31 May 2026. From the numbers. From the price. Price stage 2, week 25, below its 200-day line, relative strength falling. From the research. Where they disagree. What is proven. What is not proven yet. Three years of negative OCF; FY26 only marginally positive, working capital intensity in EPCC format not yet resolved

The test written in advance. OCF Conversion Failure. Measured by: OCF Conversion Failure Q1 FY27 OCF print, goal >Rs 10 Cr positive by the next result. The test written in advance. Dangote Order Timing Slippage. Measured by: Dangote Order Timing Slippage Dangote fired heater order announcement by end of Q1 FY27 (Sep 2026) by the next result. The test written in advance. Execution Bandwidth and Engineering Capacity. Measured by: Execution Bandwidth and Engineering Capacity by the next result. What the company does. FY26 revenue grew 68% YoY to Rs 838 Cr with PAT up 114.6%, margin normalized to 14 to 15% EBITDA after legacy PSU drag cleared. The Rs 1,961 Cr order book (2-year runway) and Rs 4,000 Cr export bid pipeline give multi-year revenue visibility at current execution pace of Rs 900 to 1,000 Cr/year. Capital adequacy reliance on Korea parent for bank guarantees, OCF barely positive after three negative years, and Dangote closure timing are the three open risks that determine whether FY27 25 to 30% guidance materializes. Lever 6 · Order-book wins: building. Largest single order; majority revenue recognition in FY27 H2 after Q4 FY26 booking delay. What proves it keeps working: BPCL Bina Rs 1,050 Cr EPC Execution. It stops working if Q1 FY27 OCF print, goal >Rs 10 Cr positive. Lever 12 · New product launch: building. Fired heater finalization Q1 FY27; fertilizer reformer Q2, Q3 FY27, combined $200 to 280M equivalent pipeline. What proves it keeps working: Dangote Nigeria Phase 2 Refinery + Fertilizer Orders. It stops working if Q1 FY27 OCF print, goal >Rs 10 Cr positive. Sources: our stock research file (31 May 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did JNK India management deliver what it promised? What JNK India Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. FY27 Revenue Guidance Reduced · 12 August 2026. In May 2026, management guided to 25% to 30% revenue growth for FY27. In Aug 2026, management lowered the range to 20% to 25% while stating that the guidance remained intact, without explaining the change in outlook. EBITDA Margin Guidance Lowered Despite Claim of No Change · 12 August 2026. In May 2026, management described 14% to 15% as the normal EBITDA margin expected going forward. In Aug 2026, the full-year guidance was stated as 12% to 14%, a lower range, while management separately said that nothing had changed in its margin projection. Dangote Phase Two Award Timeline Has Slipped · 12 August 2026. In May 2026, management expected the Dangote fired heater requirement to be finalized in Q1 FY27 and the reformer package in Q2 or Q3. By Aug 2026, management said phase two was still under discussion and that there was no official client commitment, indicating that the previously communicated near-term award timeline was not met without a clear explanation for the delay. Order Conversion Rate Assumption Reduced · 12 August 2026. In May 2026, management cited a 25% to 30% conversion rate for the bid pipeline and expected Rs. 1,300 crores to Rs. 1,500 crores of order inflows. In Aug 2026, management described its traditional hit rate as 20% to 25% and expected the lower rate to continue, without explaining the revision despite the larger pipeline. Every quote above is taken word for word from the company’s own earnings calls. ## What is JNK India management's track record? Pattern of 1-2 quarter execution slippage on large projects (Reliance, BPCL Bina); MNCL note confirms January to March 2026 beat on better Reliance/HPCL execution. ### Regulatory and governance record

Trendlyne SAST shows only routine fund acquisition (DSP Trustee Pvt Ltd, 2,480,265 shares); no SEBI/CBI/ED action, fraud, or material penalty surfaced. 0% Promoter shares pledged

Sources:

- [moneyworks4me.com](https://www.moneyworks4me.com/indianstocks/small-cap/capital-goods-industrial-consumables/engineering-industrial-equipments/jnk-india/company-info)
- [trendlyne.com](https://trendlyne.com/equity/insider-trading-sast/all/JNKINDIA/2217258/jnk-india-ltd/)
- [economictimes.indiatimes.com](https://economictimes.indiatimes.com/jnk-india-ltd/stocks/companyid-2019106.cms)

(Checked 7 June 2026.)

## How much does JNK India earn on its capital? JNK India Ltd earned a ROCE of 17% in FY26. That is up from a low of 15% in FY25. Its return on capital used (ROIC) is 3.9 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 7.9% net margin and 0.77× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 7.9% net margin × 0.77× asset turnover × 1.87× leverage (assets divided by equity) ≈ 11.4% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 15.9% − 12.0% = +3.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. ## Does JNK India have too much debt? JNK India Ltd has total debt of ₹91.0 Cr against shareholder equity of ₹568 Cr as of Jun 2026, so its debt is 0.16× its equity, which is very little. Year by year, that ratio went from 0.36 in FY23 to 0.16 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the JNK India shareholding pattern? Domestic institutions cut their stake in JNK India Ltd by 8.0 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 10.7% of the company. Foreign institutions moved −3.3 points over the same period, to 0.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −8.0 points over 8 quarters, to 10.7%; Foreign institutions: −3.3 points over 8 quarters, to 0.1%; Promoters: −0.2 points over 8 quarters, to 67.8%. Why the owners changed: domestic institutions drove it (−8.0 points), together with foreign institutions (−3.3 points). They reduced their stake. ## How far is JNK India from balance-sheet trouble? For JNK India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does JNK India rank in its industry? 69.9 out of 100, rank 1 of 16 in Capital Goods - Engineering Heavy, with 79% of the evidence available. JNK India Ltd scores 69.9 out of 100 against the 16 companies it is compared with in Capital Goods - Engineering Heavy, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 30.8 + 14.8 + 10.7 + 13.6 = 69.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is JNK India compared with? JNK India ranks 1 of 16 Capital Goods - Engineering Heavy companies on the 4-Factor Sector Score, with 69.9 out of 100. 1. JNK India Ltd this page JNKINDIA · quiet · Most evidence points up · 79% evidence 69.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.8/35 · Revenue 84.4% · Profit 100% · Operating margin change 5.5 points · 88% evidence Capital efficiency 14.8/25 · ROCE 17.4% · Operating margin 8.8% · 100% evidence Valuation 10.7/20 · P/E 28× · PEG n/a · 15% evidence Relative strength 13.6/20 · Lead over its industry 14.8% · Lead over NIFTY 500 15.5% · 1 year 28.7% · 100% evidence · 3 of 12 weeks ahead Exact sum: 30.8 + 14.8 + 10.7 + 13.6 = 69.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Bharat Heavy Electricals Ltd](https://www.sectoralpha.in/stocks/bharat-heavy-electricals-ltd) BHEL · losing its lead · Evidence leans up · 75% evidence 62.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 29.1% · Profit 100% · Operating margin change 3 points · 95% evidence Capital efficiency 9.0/25 · ROCE 9.1% · Operating margin 11% · 76% evidence Valuation 9.7/20 · P/E 46.9× · PEG n/a · 15% evidence Relative strength 15.8/20 · Lead over its industry 16.2% · Lead over NIFTY 500 18% · 1 year 46% · 100% evidence · 7 of 12 weeks ahead Exact sum: 27.9 + 9 + 9.7 + 15.8 = 62.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Disa India Ltd](https://www.sectoralpha.in/stocks/disa-india-ltd) DISAQ · quiet · Evidence leans up · 81% evidence 59.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.9/35 · Revenue 3.8% · Profit 6.3% · Operating margin change -1 points · 88% evidence Capital efficiency 21.2/25 · ROCE 26.6% · Operating margin 14% · 100% evidence Valuation 11.6/20 · P/E 30.4× · PEG 1.9 · 100% evidence Relative strength 9.6/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.5% · 1 year -18.3% · 25% evidence · 1 of 12 weeks ahead Exact sum: 16.9 + 21.2 + 11.6 + 9.6 = 59.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. Concord Control Systems Ltd turning · Too little evidence to rank firmly · 57% evidence 58.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.6/35 · Revenue 100% · Profit 100% · Operating margin change 10 points · 27% evidence Capital efficiency 17.4/25 · ROCE 31.2% · Operating margin 30% · 71% evidence Valuation 9.0/20 · P/E 58.4× · PEG n/a · 50% evidence Relative strength 12.6/20 · Lead over its industry -1.8% · Lead over NIFTY 500 1.6% · 1 year 22.7% · 100% evidence · 1 of 12 weeks ahead Exact sum: 19.6 + 17.4 + 9 + 12.6 = 58.6 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [Eimco Elecon (India) Ltd](https://www.sectoralpha.in/stocks/eimco-elecon-indialtd) EIMCOELECO · leader · Evidence leans up · 85% evidence 57.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 25.3% · Profit 2.9% · Operating margin change 3.2 points · 100% evidence Capital efficiency 11.5/25 · ROCE 10.3% · Operating margin 18.9% · 100% evidence Valuation 11.2/20 · P/E 29.3× · PEG 1.12 · 100% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 26.2% · 1 year 14.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 22.9 + 11.5 + 11.2 + 12.3 = 57.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Suzlon Energy Ltd](https://www.sectoralpha.in/stocks/suzlon-energy-ltd) SUZLON · basing · Evidence leans up · 100% evidence 56.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.4/35 · Revenue 33.9% · Profit -28.8% · Operating margin change -4 points · 100% evidence Capital efficiency 20.5/25 · ROCE 34.2% · Operating margin 15% · 100% evidence Valuation 19.0/20 · P/E 20.5× · PEG 0.36 · 100% evidence Relative strength 3.8/20 · Lead over its industry -29.6% · Lead over NIFTY 500 -27% · 1 year -42.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 13.4 + 20.5 + 19 + 3.8 = 56.7 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 7. [Hercules Investments Ltd](https://www.sectoralpha.in/stocks/hercules-investments-ltd) HERCULES · Evidence leans up · 65% evidence 51.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.2/43.75 · Revenue -80% · Profit -74.3% · Operating margin change -0.4 points · 56% evidence Capital efficiency 10.9/31.25 · ROCE 5.7% · Operating margin 48.7% · 100% evidence Valuation 22.1/25 · P/E 8.6× · PEG 0.28 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 18.2 + 10.9 + 22.1 = 51.2 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 8. [Integra Engineering India Ltd](https://www.sectoralpha.in/stocks/integra-engineering-india-ltd) basing · Evidence leans down · 76% evidence 48.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.4/35 · Revenue 1.7% · Profit -16.6% · Operating margin change -3.5 points · 83% evidence Capital efficiency 18.2/25 · ROCE 18.5% · Operating margin 16.4% · 95% evidence Valuation 9.9/20 · P/E 34.1× · PEG n/a · 15% evidence Relative strength 9.7/20 · Lead over its industry -16.3% · Lead over NIFTY 500 -13.7% · 1 year -38.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 10.4 + 18.2 + 9.9 + 9.7 = 48.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [John Cockerill India Ltd](https://www.sectoralpha.in/stocks/john-cockerill-india-ltd) COCKERILL · quiet · Evidence leans down · 74% evidence 46.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.0/35 · Revenue 78.6% · Profit 100% · Operating margin change -4.6 points · 88% evidence Capital efficiency 8.8/25 · ROCE 11.1% · Operating margin -2.3% · 100% evidence Valuation 3.9/20 · P/E 155× · PEG 9.45 · 65% evidence Relative strength 11.6/20 · Lead over its industry n/a · Lead over NIFTY 500 7.1% · 1 year 28% · 25% evidence · 3 of 12 weeks ahead Exact sum: 22 + 8.8 + 3.9 + 11.6 = 46.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Walchandnagar Industries Ltd](https://www.sectoralpha.in/stocks/walchandnagar-industries-ltd) WALCHANNAG · quiet · Evidence leans down · 71% evidence 45.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.2/35 · Revenue 38% · Profit 96.7% · Operating margin change 12.9 points · 65% evidence Capital efficiency 5.4/25 · ROCE 4.2% · Operating margin 8.1% · 100% evidence Valuation 9.1/20 · P/E 114.5× · PEG n/a · 15% evidence Relative strength 5.3/20 · Lead over its industry -8.4% · Lead over NIFTY 500 -6.5% · 1 year 1.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 25.2 + 5.4 + 9.1 + 5.3 = 45 · What this means: Earnings are strong; relative strength in its sector is -8.4% and the one-year return is 1.5%. 11. [Inox Wind Ltd](https://www.sectoralpha.in/stocks/inox-wind-ltd) INOXWIND · quiet · Evidence leans down · 89% evidence 38.7 out of 100 Growth Capital Valuation Relative
12. [The Anup Engineering Ltd](https://www.sectoralpha.in/stocks/the-anup-engineering-ltd) ANUP · quiet · Evidence leans down · 89% evidence 38.7 out of 100 Growth Capital Valuation Relative
13. [Windsor Machines Ltd](https://www.sectoralpha.in/stocks/windsor-machines-ltd) WINDMACHIN · turning · Too little evidence to rank firmly · 56% evidence 37.5 out of 100 Growth Capital Valuation Relative
14. [Kabra Extrusion Technik Ltd](https://www.sectoralpha.in/stocks/kabra-extrusion-technik-ltd) KABRAEXTRU · leader · Evidence leans down · 78% evidence 37.0 out of 100 Growth Capital Valuation Relative
15. [Bajaj Steel Industries Ltd](https://www.sectoralpha.in/stocks/bajaj-steel-industries-ltd) BAJAJST · quiet · Most evidence points down · 81% evidence 29.7 out of 100 Growth Capital Valuation Relative
16. [Praj Industries Ltd](https://www.sectoralpha.in/stocks/praj-industries-ltd) PRAJIND · quiet · Most evidence points down · 85% evidence 25.8 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Capital Goods - Engineering Heavy](https://www.sectoralpha.in/sectors/capital-goods-engineering-heavy), all 16 compared on one page. ## Which companies are close to JNK India in size? JNK India is the 10th largest of 16 Capital Goods - Engineering Heavy companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: The Anup Engineering, Concord Control Systems and Kabra Extrusion Technik. Just below it: Disa India, Eimco Elecon (India) and Walchandnagar Industries. ### Capital Goods - Engineering Heavy companies close in size

1. [The Anup Engineering Ltd](https://www.sectoralpha.in/stocks/the-anup-engineering-ltd) ₹2,630 crore
2. [Concord Control Systems Ltd](https://www.sectoralpha.in/stocks/concord-control-systems-ltd) ₹2,489 crore
3. [Kabra Extrusion Technik Ltd](https://www.sectoralpha.in/stocks/kabra-extrusion-technik-ltd) ₹2,431 crore
4. JNK India Ltd ₹2,106 crore
5. [Disa India Ltd](https://www.sectoralpha.in/stocks/disa-india-ltd) ₹1,629 crore
6. [Eimco Elecon (India) Ltd](https://www.sectoralpha.in/stocks/eimco-elecon-indialtd) ₹1,231 crore
7. [Walchandnagar Industries Ltd](https://www.sectoralpha.in/stocks/walchandnagar-industries-ltd) ₹1,225 crore

[All 16 Capital Goods - Engineering Heavy companies, largest first](https://www.sectoralpha.in/sectors/capital-goods-engineering-heavy#all-companies)

### Companies close in size in other industries

1. [Apeejay Surrendra Park Hotels Ltd](https://www.sectoralpha.in/stocks/apeejay-surrendra-park-hotels-ltd) ₹2,117 crore · Hotels
2. [OBSC Perfection Ltd](https://www.sectoralpha.in/stocks/obsc-perfection-ltd) ₹2,115 crore · Auto Ancillaries - Diversified
3. JNK India Ltd ₹2,106 crore
4. [Sakar Healthcare Ltd](https://www.sectoralpha.in/stocks/sakar-healthcare-ltd) ₹2,102 crore · Hospitals
5. [EPack Prefab Technologies Ltd](https://www.sectoralpha.in/stocks/epack-prefab-technologies-ltd) ₹2,097 crore · Pre-Engineering Buildings

## What else do people ask about JNK India? ### What is JNK India's share price today? JNK India Ltd's share price is ₹390.60, +33.5% over the past year. The whole company is worth ₹2,188 Cr on the market. In the last 52 weeks it traded between ₹215 to ₹509; today it is 60% of the way up from the low, 0.3% below its 200-day average (as of 3 November 2026). ### What were JNK India's latest quarterly results? JNK India Ltd reported revenue of ₹180 Cr and net profit of ₹9.6 Cr for the Jun 2026 quarter. Revenue rose 81.6% and profit rose 752.2% compared with a year earlier. Earnings per share were ₹2.05. The operating margin was 8.8%, 5.5 percentage points higher than a year earlier (as of 3 November 2026). ### What is JNK India's market cap? JNK India Ltd's market capitalisation is ₹2,188 Cr at a share price of ₹390.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is JNK India performing? JNK India Ltd's share price has been rising for 25 weeks. In its latest quarter, revenue rose 81.6% and profit rose 752.2% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running (as of 3 November 2026). ### Will JNK India's share price go up? This page does not forecast JNK India Ltd's share price. What it shows instead: the share price is ₹390.60, and it has been rising for 25 weeks. Its P/E of 29.1× is higher than 4% of its own last 3 years (as of 3 November 2026). ### Who owns JNK India? Promoters own 67.8% of JNK India Ltd, foreign institutions 0.1%, domestic institutions 10.7% and the public 21.4% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 8.0 percentage points over 8 quarters (as of 3 November 2026). ### Where is JNK India in its business cycle? JNK India Ltd's FY26 operating margin was 11.0%, against a 7-year range of 9.0% to 21.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 8.8%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the JNK India story? The main question: profits are rising, but only −49% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is JNK India a stock worth studying right now? What the numbers show: JNK India Ltd's results are improving, while its P/E is near the low end of its own history over 2.5 years, higher than only 4% of past readings. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a JNK India share price forecast for 2026? What management itself guided: FY27 consolidated revenue growth around 20-25%. What is changing at JNK India, from the latest results and calls: bpcl bina ₹1,050 crore epc execution, dangote nigeria phase 2 refinery + fertilizer orders and legacy order exit margin recovery. What would change the story: Three years of negative operating cash flow; FY26 only marginally positive, working capital intensity in EPCC format not yet resolved. ### Where does this page get JNK India's management information? From JNK India's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. This is research, not advice. We’re not SEBI-registered.