Jnk India surged 15.65% to Rs 785 after the company received mega order from Reliance Industries (RIL) for Gas Cracker Unit (GCU) de-bottlenecking (DBN) project at RIL's Dahej Manufacturing Division (DMD), Gujarat in India.
As per Jnk Indias classification, the value of the mega contract lies between Rs 350-500 crore.The scope of work includes design, engineering, procurement, supply, complete site erection, and technical assistance during pre-commissioning, commissioning and performance guarantee test runs for two (2) gas cracking furnaces.
The said order will be completed in 21 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.
The counter declined 0.77% to settle at Rs 675 on Friday, 14 June 2024.
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