JNK India - one of the leading Heating Equipment companies in India

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Introduction

JNK India is a prominent player in the Indian heating equipment market. They have capabilities in thermal design, engineering, manufacturing, supplying, installing and commissioning process for fired heaters, reformers, and cracking furnaces.

Business

They are well-recognized process-fired heater companies in India, having a market share of approximately 27% in the Indian heating equipment market in terms of new order bookings in fiscal 2023.

A process-fired heater is a type of industrial heater used to heat fluids or gases directly by burning a fuel source such as natural gas or propane. Reformers are devices used to convert hydrocarbons, such as natural gas or naphtha, into synthesis gas or syngas, which is a mixture of hydrogen and carbon monoxide. Further, cracking furnaces are used to break down large hydrocarbon molecules into smaller ones, which can then be used to produce a variety of products, including fuels, chemicals, and plastics. The process of breaking down hydrocarbons is known as cracking, and it typically involves heating the hydrocarbon feedstock in the presence of a catalyst. Process-fired heaters, reformers, and cracking furnaces (together, the “heating equipment”) are required in process industries such as oil and gas refineries, petrochemicals, fertilizers, hydrogen and methanol plants, etc.

Clients

As of march 31, 2023, they have served 17 customers In India and seven customers overseas.

Seven out of the 12 oil refining companies in India are their customers and they have supplied or are in the process of supplying heating equipment to 11 of the 24 operating oil refineries across India. Their domestic clients are IOC, RCF, Tata Project Ltd and Numaligarh Refinery Ltd.

Further, they have catered to overseas customers, such as a leading engineering procurement and construction (“EPC”) company in Europe, a leading oil and gas exploration and production company in Oman and the Middle East arm of the European EPC company in oil and gas.

**Revenue from operations **

In 2023
Oil and gas - 77.25%
Petrochemical - 16.17%
Fertilizers - 0.20%
Others - 6.38%

Source: JNK India DRHP

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