Jyoti CNC Automation Ltd Q3 FY26: ₹576 Cr Revenue, ₹89 Cr PAT, 27% OPM — Aerospace Orders Powering a ₹4,289 Cr Order Book While Stock Trades at 54x Earnings
1. At a Glance – CNC Machines, Cash Cycles & Confidence
Welcome to Jyoti CNC Automation Ltd, the company that decided India doesn’t just need software engineers — it needs machines that cut metal with micrometer precision.
In Q3 FY26 (December 2025 quarter), revenue hit ₹576 crore and PAT clocked ₹89 crore. Operating margin stands at a very muscular 27%. Aerospace alone contributes 43% of order book. Exports are now 45% of revenue mix.
The stock? Down 19% over one year. Down ~9.7% in three months. Market giving silent treatment while order book screams.
So the real question: Is this a precision engineering powerhouse… or just an overenthusiastic CNC salesman trading at 54 times earnings?
Let’s open the machine casing.
2. Introduction – When Rajkot Met Aerospace
Jyoti CNC Automation is not a startup with a LinkedIn motivational post. It’s a hardcore capital goods manufacturer making simultaneous 5-axis CNC machines.
Yes. The complicated ones.
It commands roughly 10–12% domestic market share in metal-cutting CNC machines. That’s not chai-paani level. That’s serious industrial muscle.
From serving auto companies to aerospace giants like HAL and Airbus, Jyoti CNC has evolved from being India-focused (83% domestic in FY22) to becoming global (45% exports in H1 FY25).
That shift matters.
Because CNC machines are not fashion products. They’re capex cycles. They depend on:
Manufacturing demand
Industrial capex
Aerospace expansion
Government defence push
And guess what? Aerospace now forms 43% of revenue mix in H1 FY25 versus just 8% in FY22.
That’s not growth. That’s transformation.
The company operates:
2 manufacturing plants in Rajkot (6,000 machines annual capacity)
1 plant in Strasbourg, France (121 machines capacity)
And recently doubled capacity in France to serve global aerospace demand.
So here’s the detective question: Are we looking at India’s Haas Automation in the making… or is this just cyclical sugar rush?
3. Business Model – WTF Do They Even Do?
Let’s simplify.
Imagine you want to manufacture aircraft parts, auto components, or precision metal tools.
You need machines that:
Cut metal
Shape parts
Rotate at insane speeds
Maintain micron-level accuracy
That’s where CNC machines come in.
Revenue Breakdown
Machinery (93% of FY24 revenue) They sell 200+ variants across 44 verticals:
