Jyoti CNC turnaround delivers Rs 336 crore PAT in FY26

Jyoti CNC Automation Limited moved from a Rs 48 crore net loss in FY22 to Rs 336 crore profit after tax in FY26, as revenue rose to Rs 2,093.1 crore, gross margin reached 55.1% and return on capital employed increased to 25.1%. The presentation records a multi-year change in earnings, margins, returns and leverage.

How did Jyoti CNC’s revenue and profit change from FY22 to FY26?

Jyoti CNC increased revenue from operations from Rs 746 crore in FY22 to Rs 2,093 crore in FY26, while profit after tax moved from a Rs 48 crore loss to Rs 336 crore profit. Revenue increased in each year shown, reaching Rs 929 crore in FY23, Rs 1,338 crore in FY24 and Rs 1,818 crore in FY25 before the FY26 result. EBITDA, or earnings before interest, tax, depreciation and amortisation, rose from Rs 73 crore in FY22 to Rs 527 crore in FY26.

The FY26 profit figure was Rs 20 crore above FY25 profit after tax of Rs 316 crore, although the year-on-year increase was smaller than the rise from Rs 151 crore in FY24 to Rs 316 crore in FY25. The FY26 detailed profit and loss statement puts revenue at Rs 2,093.1 crore, EBITDA at Rs 526.8 crore and profit after tax at Rs 336 crore. It also reports FY26 cash profit after tax of Rs 386.2 crore, compared with Rs 352.5 crore in FY25.

Which Jyoti CNC margins improved through FY26?

Jyoti CNC’s gross profit margin rose from 43.8% in FY22 to 55.1% in FY26, while EBITDA margin rose from 9.7% to 25.2% and profit-after-tax margin changed from negative 6.5% to positive 16.1%. Gross profit was Rs 1,153.8 crore in FY26, based on revenue of Rs 2,093.1 crore and cost of goods sold of Rs 939.3 crore. This compares with a 42.7% gross margin in FY23 and 49.7% in FY24.

The margin path was not uniformly upward in the final year. EBITDA margin was 27.0% in FY25 and declined to 25.2% in FY26, even as EBITDA increased by Rs 35.9 crore to Rs 526.8 crore. Similarly, profit-after-tax margin declined from 17.4% in FY25 to 16.1% in FY26, while profit after tax increased by Rs 20 crore. Employee cost rose to Rs 330 crore in FY26 from Rs 258.2 crore in FY25, and other expenses increased to Rs 297.1 crore from Rs 199.8 crore.

How did Jyoti CNC’s returns and leverage move over the period?

Jyoti CNC reported return on capital employed, or ROCE, of 25.1% in FY26, up from 9.5% in FY23 and 21.5% in FY25. Return on assets, or ROA, rose from 1.0% in FY23 to 10.5% in FY26, while return on equity, or ROE, was 18.2% in FY26 versus 18.7% in FY25. The FY26 ROCE was therefore 15.6 percentage points above FY23, even though ROE was 0.5 percentage points below the preceding year.

The debt-to-equity ratio declined from 10.2 times in FY23 to 0.2 times in FY24, then measured 0.3 times in FY25 and 0.4 times in FY26. At March 2026, the balance sheet showed total equity of Rs 2,001.3 crore, compared with Rs 1,686.2 crore a year earlier. Borrowings totalled Rs 849.7 crore at March 2026, comprising Rs 410.2 crore of non-current borrowings and Rs 439.5 crore of current borrowings, compared with Rs 496.9 crore combined at March 2025.

What do Jyoti CNC’s FY26 cash flows and capacity plans show?

Jyoti CNC reported Rs 54.4 crore of net cash from operating activities in FY26, compared with an outflow of Rs 105.4 crore in FY25. Operating profit before working-capital changes was Rs 521.7 crore in FY26, but changes in working capital used Rs 309.1 crore and direct taxes paid used Rs 125.4 crore. Net investing cash outflow was Rs 302.1 crore in FY26, following an outflow of Rs 329 crore in FY25.

Jyoti CNC ended FY26 with Rs 52.9 crore of cash and cash equivalents, versus Rs 13.4 crore at the end of FY25, after Rs 287.2 crore of financing cash inflow. The presentation also states that current annual manufacturing capacity is 6,000 machines and that an additional 10,000-machine capacity is being put to use. It says foundry operations are to commence in coming days, making the start-up of that facility a disclosed operational point to monitor.

Conclusion

Taken together, the historical record shows that Jyoti CNC expanded its gross margin from 43.8% in FY22 to 55.1% in FY26 while moving its profit-after-tax margin from negative 6.5% to 16.1%. The FY26 outcome also showed that absolute EBITDA rose to Rs 526.8 crore even as EBITDA margin was 25.2%, below FY25’s 27.0%.

The next disclosed development to watch is the use of an additional 10,000 machines of annual capacity alongside the planned commencement of foundry operations. Jyoti CNC’s presentation gives no commissioning date, output forecast or financial target for that capacity, while FY26 investing cash outflow was Rs 302.1 crore.