Jyoti CNC sees Huron nearing ₹300 crore revenue in FY27

In FY27, Jyoti CNC Automation Limited expects Huron to approach ₹300 crore of revenue, supported by permissions for one or two machine dispatches and management’s expectation of ₹80 crore to ₹100 crore of Q3 dispatches. The plan depends on a Q3 and Q4 ramp-up from capacity added in November 2025 and further progress on end-user certificates.

Can Huron approach ₹300 crore of revenue in FY27?

Yes, Jyoti CNC said Huron is on track to reach close to ₹300 crore of revenue in FY27, with the expected dispatch recovery concentrated in Q3 and Q4. Management maintained that position after an analyst referred to an earlier ₹300 crore to ₹325 crore revenue range and a 5% to 10% earnings before interest, tax, depreciation and amortisation, or EBITDA, margin range for Huron.

The near-term milestone is ₹80 crore to ₹100 crore of Huron dispatches in Q3 FY27. When asked whether that level of Q3 dispatches could be followed by a further increase in Q4, management replied that this was the correct understanding. The annual objective is therefore reliant on Q4 contributing meaningfully after the Q3 restart.

What permissions are enabling Huron dispatches?

Permissions related to end-user certificates are enabling Huron to begin dispatches, according to Jyoti CNC. Management said it was well advanced in the certificate process, had received positive signals from government authorities, and had obtained permission for one or two machines in the week before the Q2 FY27 call.

The call did not establish that all approvals had been completed. Jyoti CNC said the one or two machine permissions provided visibility for a Q3 and Q4 revenue ramp, making further progress on end-user certificates an execution condition for the ₹300 crore FY27 objective.

On the French investigation raised by an analyst, Jyoti CNC said it received a notice in the first week of April and responded to it. Management said there had been no further communication after that response and described the position as similar for other European companies under investigation, without disclosing a formal decision or closure.

Why is Huron’s FY27 revenue expected to be back-loaded?

Huron’s contribution is expected to be back-loaded because manufacturing capacity added in November 2025 is scheduled to start dispatching in Q3 and Q4 FY27. Jyoti CNC said the expanded capacity would add to second-half growth, while the new permissions allow the facility to begin converting that capacity into machine shipments.

The domestic operation has already delivered higher volumes in Q2 FY27. Jyoti CNC sold 1,911 machines, compared with 1,315 in Q2 FY26, an increase of 596 machines. Management said additional capacity was put to use during the quarter and that foundry operations would commence in the coming days, providing scope for further volume growth.

The financial comparison also shows that Q2 FY27 group growth preceded the planned Huron ramp. Consolidated revenue rose to ₹602 crore from ₹508 crore in Q2 FY26, while consolidated EBITDA increased to ₹131 crore from ₹125 crore. Standalone revenue grew 31% to ₹588 crore and standalone EBITDA reached ₹164 crore, compared with ₹111 crore a year earlier.

How could Huron’s ramp affect Jyoti CNC’s FY27 margin target?

Management said it remained confident of achieving the 25% EBITDA margin it had guided to the market as H2 FY27 improves on H1 and Huron ramps up. This is a management target, not a reported outcome: consolidated EBITDA margin was 21.8% in Q2 FY27, while standalone EBITDA margin was 28% in the same quarter.

Product mix is one factor behind the margin discussion. Entry-level machines accounted for 1,802 of the 1,911 machines sold in Q2 FY27, compared with 11 high-end machines. An analyst said entry-level products had lower margins than high-end defence and aerospace machines, while management said order-book composition and execution plans supported its view that margins would not fall below 25%.

Jyoti CNC’s ₹5,082 crore order book as of September 30, 2026 provides the wider execution base for the second half. Aerospace and defence accounted for 36% of the book, automotive and auto components 22%, general engineering 21%, and electronics manufacturing services 12%. The company also reported ₹800 crore of order intake during the quarter.

Management linked future margin improvement to operating leverage and investment in research and development. It said it had added close to 950 people over the prior six months, with the associated costs already being booked, and plans over the next two years to develop electronics capabilities as it moves from a mechanical-company model toward mechatronics.

Conclusion

Huron’s route to close to ₹300 crore of FY27 revenue is now tied to a defined second-half sequence: permissions for initial machine shipments, ₹80 crore to ₹100 crore of expected Q3 dispatches, and a further Q4 increase from capacity installed in November 2025. The planned ramp would add to a business that reported ₹602 crore of consolidated Q2 FY27 revenue and held a ₹5,082 crore order book at September 30, 2026.

The key next indicators are the pace of additional end-user certificate approvals and whether Q3 dispatches reach the ₹80 crore to ₹100 crore range. Management also expects foundry operations to start in the coming days and has projected FY27 capital expenditure of ₹450 crore to ₹500 crore, after ₹183 crore of spending and advances at the time of the call.