Jost's Engineered Products rises as Material Handling falls

Jost's Engineering Company Limited reported Rs 67.56 crore of Engineered Products revenue for the half year ended September 30, 2026, up from Rs 50.22 crore a year earlier, while Material Handling revenue fell to Rs 22.52 crore from Rs 52.48 crore and its segment result turned to a Rs 87 lakh loss.

How did Jost's segments perform in the first half?

Jost's Engineered Products was the largest reported segment in the half year ended September 30, 2026, with revenue of Rs 67.56 crore and profit before tax and interest of Rs 8.94 crore. In the half year ended September 30, 2025, the segment reported revenue of Rs 50.22 crore and a segment result of Rs 5.92 crore, showing higher revenue and profit in the latest period.

Material Handling moved in the opposite direction, reporting revenue of Rs 22.52 crore for the 2026 first half against Rs 52.48 crore a year earlier. Its segment result changed from a profit of Rs 2.55 crore in the 2025 first half to a loss of Rs 87 lakh in the 2026 first half.

MHE Rentals, meaning material handling equipment rentals, reported revenue of Rs 5.96 crore for the half year ended September 30, 2026, compared with Rs 6.65 crore in the prior-year half. Despite the revenue decline, its segment result increased to Rs 3.40 crore from Rs 1.90 crore.

Jost's total segment revenue was Rs 96.04 crore in the 2026 first half, versus Rs 109.35 crore in the same period of 2025. The Rs 17.34 crore increase in Engineered Products revenue did not offset the Rs 29.96 crore reduction in Material Handling revenue and the Rs 69 lakh decrease in MHE Rentals revenue.

What changed in Jost's September 2026 quarter?

Jost's Engineered Products recorded September-quarter revenue of Rs 33.09 crore and a segment result of Rs 3.92 crore, compared with revenue of Rs 24.82 crore and a segment result of Rs 1.77 crore in the September 2025 quarter. Its revenue was also below the Rs 34.47 crore reported in the June 2026 quarter, while its segment result was below June's Rs 5.03 crore.

Material Handling revenue was Rs 8.06 crore in the quarter ended September 30, 2026, compared with Rs 25.54 crore in the September 2025 quarter and Rs 14.46 crore in the June 2026 quarter. The segment reported a Rs 25 lakh loss, narrower than the Rs 63 lakh loss in June 2026 but below the Rs 2.97 crore profit recorded a year earlier.

MHE Rentals generated quarterly revenue of Rs 2.93 crore in September 2026, against Rs 3.38 crore a year earlier and Rs 3.03 crore in June 2026. Its segment result was a profit of Rs 26 lakh, following a Rs 10 lakh loss in the September 2025 quarter and a Rs 7 lakh profit in the June 2026 quarter.

Jost's total segment revenue declined sequentially to Rs 44.08 crore in the September 2026 quarter from Rs 51.96 crore in the June 2026 quarter. Combined segment results fell to Rs 3.93 crore from Rs 4.48 crore, as Material Handling revenue declined by Rs 6.40 crore between the two quarters.

How did the segment mix affect Jost's consolidated profit?

Jost's profit before tax from continuing operations was Rs 8.35 crore for the half year ended September 30, 2026, compared with Rs 2.46 crore in the prior-year half. The combined segment result was Rs 8.41 crore, against Rs 8.66 crore a year earlier, while unallocated income rose to Rs 3.78 crore from Rs 13 lakh and interest expense fell to Rs 93 lakh from Rs 2.95 crore.

Other unallocable expenditure was Rs 2.91 crore in the 2026 first half, compared with Rs 3.38 crore in the year-earlier period. Jost's profit after tax from continuing operations was Rs 5.72 crore, up from Rs 1.39 crore; the company also reported a Rs 1 lakh share of loss from an associate in each half-year period.

For the September 2026 quarter, Jost's profit before tax from continuing operations was Rs 4.39 crore, versus Rs 1.91 crore in the September 2025 quarter. Quarterly unallocated income was Rs 2.28 crore, compared with Rs 6 lakh a year earlier, while interest expense declined to Rs 53 lakh from Rs 1.17 crore.

Jost's quarterly profit after tax from continuing operations was Rs 3.31 crore in September 2026, compared with Rs 82 lakh in September 2025. The company said the September 2026 quarter figures were balancing figures between the unaudited half-year figures and the reviewed June 2026 quarterly figures.

What do Jost's segment assets and liabilities show?

Jost's Engineered Products assets were Rs 89.17 crore as of September 30, 2026, compared with Rs 83.59 crore a year earlier and Rs 73.76 crore at March 31, 2026. Material Handling assets were Rs 21.47 crore, down from Rs 52.67 crore at September 30, 2025 and Rs 26.25 crore at March 31, 2026.

MHE Rentals assets stood at Rs 17.06 crore at September 30, 2026, compared with Rs 4.51 crore a year earlier. Material Handling liabilities were Rs 21.81 crore, versus Rs 34.77 crore at September 30, 2025 and Rs 6.19 crore at March 31, 2026, while Engineered Products liabilities were Rs 32.73 crore.

Jost's consolidated assets totalled Rs 230.52 crore at September 30, 2026, compared with Rs 213.93 crore a year earlier, and total liabilities were Rs 73.44 crore against Rs 84.76 crore. Current borrowings were Rs 10.57 crore at September 30, 2026, up from Rs 5.61 crore at March 31, 2026.

Trade receivables increased to Rs 100.74 crore at September 30, 2026 from Rs 88.09 crore at March 31, 2026, while current investments increased to Rs 77.75 crore from Rs 73.69 crore. These balance-sheet items are reported for the consolidated group rather than assigned to the three operating segments.

Conclusion

Jost's first-half segment disclosures show a substantially changed revenue mix: Engineered Products added Rs 17.34 crore of revenue and Rs 3.02 crore of segment result year on year, while Material Handling lost Rs 29.96 crore of revenue and moved from a Rs 2.55 crore profit to a Rs 87 lakh loss. MHE Rentals reported a Rs 3.40 crore segment result despite revenue of Rs 5.96 crore.

The next disclosed matter to watch is the finalisation of central and state rules and government clarifications on India’s Labour Codes. Jost's said it will determine further accounting treatment as developments occur; it had recognised a Rs 2.61 crore increase in its defined-benefit-obligation provision as an exceptional item in the year ended March 31, 2026.