The investment proposal has been approved under the Electronic Components Manufacturing Scheme (ECMS) of the Ministry of Electronics and Information Technology (MeitY).
According to the company, the proposed investment will be used to expand installed manufacturing capacity and set up a backward-integrated facility for the production of electronic devices used in CNC machines.
Jyoti CNC said it would be eligible for a capital expenditure incentive of up to 25% on the proposed investments under the scheme, subject to the stipulations of the ECMS and the approval letter issued by MeitY on August 17.
Jyoti CNC Q1FY27 results
Gujarat-based Jyoti CNC Automation reported a mixed performance for the June quarter, with strong revenue growth failing to translate into higher profitability as operating margins came under pressure.
Net profit declined 20.2% year-on-year to ₹57 crore, compared with ₹71.4 crore in the corresponding quarter last year. Revenue, however, rose 24% to ₹508.5 crore from ₹410.2 crore a year ago.
At the operating level, EBITDA increased 8.6% year-on-year to ₹108.8 crore, compared with ₹100.2 crore in the year-ago quarter. The EBITDA margin, however, contracted sharply to 21.4% from 24.4%.Jyoti CNC share price target
The scrip settled over 3.2% higher on the NSE today, quoting at ₹853.50. So far this year, the stock has corrected more than 14% and the one-year gain too is negative by over 7%. The five-year return is 92%. Jyoti CNC Automation has an average share price target of ₹888, according to Trendlyne.
