Jyoti CNC Automation manufactures CNC machine tools for aerospace & defence, automotive, general engineering, EMS and die & mould customers, and enters this quarter with a new 10,000-machine Rajkot facility just commissioned amid strong capital-goods demand. The print will hinge on the margin bridge back to the guided ~25% EBITDA level and on whether any of the roughly Rs. 100 Cr of deferred Huron revenue gets recognized as export licences clear.
| Results date | November 03, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 508.47 Cr (consolidated, Q1 FY27) |
| Previous quarter PAT | Rs. 57.14 Cr (consolidated, Q1 FY27) |
| Previous quarter EBITDA margin | 23.4% (consolidated Adj. EBITDA margin, Q1 FY27) |
| Market cap | Rs. 21,757.57 Cr |
| CMP | Rs. 956.7 |
Jyoti CNC Automation Ltd is scheduled to report its Q2 FY 2026-2027 results on November 03, 2026. The Q2FY27 earnings call is scheduled the same day at 5:00 PM IST.
The Q2FY27 earnings call is scheduled for November 3, 2026 at 5:00 PM IST, hosted by Elara Securities, with Chairman & MD Mr. Parakramsinh G. Jadeja representing the company. The Q1FY27 earnings call recording is available on the company website.
The quarter is a test of whether Jyoti CNC can close the gap to its reaffirmed FY27 guidance of 25-30% top-line growth and EBITDA margins 'in the range of 25%', after Q1 came in at 23.4% consolidated adjusted EBITDA margin and ~24% consolidated growth. The demand backdrop is firm: IIP capital goods grew 16.1% YoY in July 2026 and 17.9% over July-August, Indian defence contracting stayed heavy with DAC clearing about Rs. 2.12 lakh crore of proposals in late October, and July 2026 saw record local order bookings of over 1,000 machines with Jyoti CNC alone booking over 250 in Rajkot. The swing factor remains Huron: roughly Rs. 100 Cr of revenue (Rs. 67 Cr reversed in Q4 FY26 plus Rs. 35 Cr unbooked in Q1 FY27) across 7-8 machines awaits export licences and end-user certificates, with no public clearance reported through late October. Cost pressure is building on a lag — WPI inflation accelerated from 9.78% in July to 11.39% in September — but with a 200-240 day inventory cycle before re-pricing onto new orders, management's 'natural hedging scenario' means most of that lands in subsequent quarters. The new 10,000-machine facility was scheduled to commence by end-September 2026, lifting capacity from 6,000 to 16,000 machines per annum, and the call should cover the ramp, order intake recovery after Q1's 15% QoQ dip, and the promised quarterly Huron disclosure.
Performance vs FY27 guidance: Management reaffirmed FY27 guidance on the August 7, 2026 call; Q2 is the first checkpoint on the delivery path.
Huron deferred revenue and Strasbourg ramp
Rajkot capacity commissioning and MeitY ECMS deployment
Order intake recovery and order book
Risks and follow-ups: Huron investigation, promoter encumbrance, margins
Approximately Rs. 100 Cr of revenue is pending — Rs. 67 Cr reversed in Q4 FY26 plus Rs. 35 Cr not booked in Q1 FY27 — across 7-8 machines awaiting export licences and end-user certificates. Management has characterised this as a deferment, not a loss, and said licence applications are now made from day one of order receipt.
Asked whether an impairment loss would be needed by end FY27 if the French investigation drags, the CMD responded 'Not at all'. Management said the investigation has had no material adverse impact on operations, order execution, exports, customer servicing or manufacturing.
Consolidated adjusted EBITDA margin fell 320 bps QoQ to 23.4%, primarily attributed to the Huron project involving Rs. 35 Cr of unbooked revenue carrying an estimated missed margin of Rs. 20-22 Cr. Excluding this, standalone margins were maintained at 27.5%, and management said the company remains on track for its guided 24-25% margin once Huron's revenue is recognized.
Order intake fell 15% QoQ, which management attributed to customers waiting for increased execution capability from the new facility going live in Q2 FY27. Management expects intake to rise as delivery confidence builds, noting July 2026 saw historically high local bookings of over 1,000 machines.
On the August 7, 2026 call the CMD reaffirmed the guidance: 'Absolutely. We are fully committed… we are close to 23.4% at margin and growth also is close to 24% at consolidation level' against the 25-30% growth and ~25% margin targets. Q2 results will show whether the expected better quarter on local dispatches narrows the gap.