John Cockerill India Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

John Cockerill India Ltd trades at ₹8,149, in a confirmed uptrend and 60 weeks into that stage. That is +17.4% against its own 200-day average. It sits at 62% of a 52-week range of ₹4,677 to ₹10,295. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (8 weeks and counting).

Today the stock is in a confirmed uptrend — week 60 of stage 2, confirmed. At ₹8,149 it trades +17.4% versus its 200-day average and sits at 62% of its 52-week range (₹4,677–₹10,295).

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +1,989% while the NIFTY 500 moved +267% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (8 weeks and counting; last ahead the week of 2026-07-17) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

John Cockerill India Ltd trades at 56.9× P/E, against too little history to rank. Its long-run median P/E is 64.1×, measured across 0.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 56.9× is against too little history to rank, against a long-run median of 64.1× measured over 0.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: Deteriorating Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

John Cockerill India Ltd reads as deteriorating on its fundamental arc. Deteriorating — profit and EPS growth are shrinking (profit growth −264.6% latest against +2177.5% at its 12-quarter best), ROCE slipping at -3.3%. The read is built from 12 quarters across 4 curves, on full evidence.

🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.

4-Factor Sector Score

55.6/100 — rank 6 of 16 in Capital Goods - Engineering Heavy · 68% evidence confidence

John Cockerill India Ltd scores 55.6 out of 100 against the 16 companies it is compared with in Capital Goods - Engineering Heavy, ranking 6. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 24 + 6.3 + 8.9 + 16.4 = 55.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

John Cockerill India Ltd reported ₹299 Cr of revenue in the Jun 26 quarter, +18.2% year on year. That is the 6th straight quarter of year-on-year growth. Over 8 years it has compounded at 25.8% a year. The last full year, Dec 25, came in at ₹962 Cr. The last four reported quarters add to ₹969 Cr.

Dec 25 revenue came in at ₹962 Cr (+147.3% on the year), capping 8 years at 25.8% compound. The latest quarter (Jun 26) printed ₹299 Cr, +18.2% year on year — the 6th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +79.3% growth against the decade's 25.8% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +55.7% over the last 4 quarters against +18.9%/yr over the last 8 — accelerating.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

John Cockerill India Ltd's operating margin is −9.0% in the Jun 26 quarter, +1.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −13.0% to 6.0%. The current quarter sits inside that band.

The latest quarter's operating margin is −9.0%, +1.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −13.0%–6.0%.

Why the margin moved: operating margin went +1.0 pp year on year while gross margin went +2.6 pp — the gain came mostly from the gross line: input costs and pricing.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

John Cockerill India Ltd posted a net loss of ₹31.0 Cr in the Jun 26 quarter. The full Dec 25 year was a loss of ₹29.0 Cr. That loss is 10.4% of the quarter's revenue. The same quarter a year earlier lost ₹15.0 Cr. 7 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹−31.0 Cr, null year on year. On the full year, Dec 25 printed ₹−29.0 Cr (null).

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 285% of John Cockerill India Ltd's reported profit arrived as operating cash — the cash follows the profit. In Dec 25 that was ₹159 Cr of operating cash against ₹−29.0 Cr of profit. After ₹31.0 Cr of capital spending, ₹128 Cr was left as free cash.

Dec 25: operating cash of ₹159 Cr against reported profit of ₹−29.0 Cr, leaving free cash of ₹128 Cr after ₹31.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 285% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 285%: the cash cycle tightened 86 days between FY21 and Dec 25 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 2.3× depreciation over three years, so the next section's job is to check what that build-out is buying.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

John Cockerill India Ltd's cash conversion cycle runs −130 days in Dec 25, down from −44 days in FY21. Capital spending ran ₹50.0 Cr over the last 3 years. At Dec 25 sales of ₹962 Cr each day of that cycle holds about ₹2.6 Cr, so roughly ₹−343 Cr sits inside the business at any moment.

Dec 25: debtors at 148 days, inventory at 15 days — roughly 0.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −130 days, tighter than FY21's −44.

The full loop: cash goes out to suppliers and production on day 0; stock waits 15 days to sell; customers pay about 148 days after that; and suppliers themselves are paid at 293 days — netting out to the −130-day cycle.

In money terms: at Dec 25 sales of ₹962 Cr, each day of the cycle holds about ₹2.6 Cr — so the −130-day loop keeps roughly ₹−343 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹50.0 Cr over the last 3 fiscal years against ₹22.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹1.0 Cr (Dec 25) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

John Cockerill India Ltd earns a ROCE of 12% in Dec 25. That is up from a trough of −15% in FY21. Return on invested capital clears the cost of that capital by +17.9 percentage points, so growth here adds value rather than only size. The wiring behind it is −3.0% net margin on 0.82× asset turns.

Dec 25 ROCE is 12%, recovered from a FY21 trough of −15% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (Dec 25): −3.0% net margin × 0.82× asset turns × −17.26× balance-sheet leverage ≈ 42.5% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 29.9% − 12.0% = a +17.9 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

John Cockerill India Ltd carries total debt of ₹5.0 Cr against shareholder equity of ₹210 Cr as of Mar 26, a debt-to-equity of 0.02 — effectively unlevered. On the annual view that ratio went from 0.00 in FY22 to 0.02 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹5.0 Cr against shareholder equity of ₹210 Cr — a debt-to-equity of 0.02. On the annual view, debt-to-equity went from 0.00 (FY22) to 0.02 (FY26). The returns on this page are earned, not borrowed.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 4.6 points of John Cockerill India Ltd over 8 quarters, the biggest move on the register. That takes promoters to 70.4% of the company. Foreign institutions moved +0.3 points over the same window, to 0.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −4.6 points over 8 quarters to 70.4%; Foreign institutions: +0.3 points over 8 quarters to 0.3%; Domestic institutions: +0.0 points over 8 quarters to 0.1%.

🚨 Why the register moved: promoters drove it (−4.6 points) — distribution into the market’s bid.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

John Cockerill India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Frequently asked questions