India Business News: Jyoti CNC Automation share price: Jyoti CNC Automation, a leading manufacturer of metal cutting computer numerical control (CNC) machines, listed at a 12.4% premium.
Jyoti CNC Automation s shares listed with a 12.4% premium. The IPO received strong subscription at 38.5 times. It has a robust order book of Rs 3,300 crore and posted revenue and EBITDA CAGR of 27% and 75% over FY21-23. In FY23, revenue rose 24% to Rs 929 crore and profit was at Rs 15 crore.
Jyoti CNC IPO: While strong brand presence and robust market share are undeniable, the financial concerns and hefty valuation necessitate a cautious approach
Jyoti CNC Automation, the third largest CNC manufacturer, has a robust order book and the growth of manufacturing industries, supported by government initiatives like Atmanirbhar Bharat and PLI schemes, indicate sustainable profitability for the next five to seven years. Despite being richly priced, Jyoti CNC Automation expects significant growth in the coming year. The company s major growth sectors are aerospace and defence, as well as electronic manufacturing services.