JNK India was locked in an upper circuit of 5% at Rs 770.30 after the heating equipment maker on Friday announced that it has received a 'major' order from Hindustan Petroleum Corporation (HPCL).
As per JNK Indias classification, the value of the said contract lies between Rs 150 crore and Rs 350 crore.
The contract is for setting up a new process plant - HP TDAE (Treated Distillate Aromatic Extracts) unit on LSTK (Lump sum Turnkey) contract basis at HPCL Mumbai Refinery.
The company said the order will be completed within 14 months.
JNK India manufactures heating equipment such as process-fired heaters, reformers, and cracking furnaces required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. Over the years, the company diversified into flares and incinerator systems and has been developing capabilities in the renewable sector with green hydrogen.
The companys consolidated net profit jumped 56.2%YoY to Rs 16.65 crore in Q4 FY24 Revenue from operations surged to Rs 226 crore in Q4 FY24 as compared with Rs 107.40 crore posted in corresponding quarter last year.
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