John Cockerill India ( JCIL ) Updates from recent events :
There are quite a few updates from JCIL in the last few months putting it all together in a simplified post here..
Belgium Acquisition:
JCIL to acquire 100% of John Cockerill Metals International (Belgium) this would consolidate the global metals business under Indian listed entity. This would have all German, China, and later US metals subsidiaries transferred under the Indian control. The payment of €50 Million is over a deferred period of 5 yrs with zero interest and management guided 2-25x revenue multiple possible that gives us around 1000 crores of revenue Capability from these facilities. Since these are all running facilities there is possibly not much capex/funds required apart from the acquisition cost of €50 Million.
New Technologies
- JVD : Industrially proven (Belgium line produced 1.1+ million tonnes)., with first commercial orders expected early 2026. License is already acquired.
- Volteron : Electrolysis-based ironmaking (disruptive vs blast furnace/DRI). At the Development stage: CRL-7 (final step before commercialisation). Commercial timeline 1-2 years more. Commercialised the via JV with ArcelorMittal with no royalty outflow.
Promoter Stake sale
- Promoters recently sold 3.89% stake reducing from 75% to 70.9% and Ramesh Damani has picked some chunk.
Q3 Concall Highlights
Orders & Visibility
- Q3 order intake: ₹586 crore, nearly 10× Q1 intake.
- Order book: ₹1,100 crore , this gives Visibility for next 2-3 years
- Order conversion rate is better than competitors, as per management.
Key Orders Won
- JSW–GFE: ₹270 crore
- Tata Steel: ₹80 crore
- Godawari Power & Ispat: ₹50 crore
- Jindal India: ₹40 crore
- JSW Steel: ₹175 crore
Services, Spares & Revamps
- Services now contribute 20–25% of order book.
- This segment is high-margin business and revenues are recurring.
- Strategic focus to scale this vertical further.
Long term Orderbook:
- Management stated ambition to reach ₹8,000 crore order book by 2030.
- Growth levers: New technologies (JVD, Volteron), Services & revamps, External acquisitions.
- To Position JCIL as a rare Indian-listed global steel technology company.
Dscl : No holdings but interested.