Jyoti CNC Automation Ltd (NSE: JYOTICNC) Q3 2025 Earnings Call dated Feb. 11, 2025
Corporate Participants:
Parakramsinh Ghanshyamsinh Jadeja — Chairman & Managing Director
Analysts:
Harshit Patel — Analyst
Akshay Kaila — Analyst
Sandeep Jain — Analyst
Swanand Samant — Analyst
Sanidhya — Analyst
Kushal Mondal — Analyst
Kamlesh Jain — Analyst
Partha Mazumder — Analyst
Kushant Arora — Analyst
Presentation:
Operator
Ladies and gentlemen, good day and welcome to the Jyoti CNC Automation Limited 3Q FY25 Results Update Conference call, hosted by Equirus Securities.
As a reminder, all participant lines will be in the listen only mode. And there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance to use the conference call. Please signal an operator by pressing Star then zero on a touchstone phone. Please note that this conference is being recorded.
I now hand the conference over to Mr. Harshit Patel from Equirus Securities. Thank you, and over to you, sir.
Harshit Patel — Analyst
Hi. Good afternoon, everyone, and thank you very much for joining in. We have with us Mr. Parakramsinh Jadeja, Chairman and Managing Director of the Company.
Jadeja sir, I would request you to give your opening remarks on the third quarter FY ’25 performance and your outlook. Over to you, sir. And then, we’ll take it up for Q&A.
Parakramsinh Ghanshyamsinh Jadeja — Chairman & Managing Director
Thank you, Harshit. Good evening friends. I’m delighted to extend a warm welcome to each one of you to have chosen to invest in Jyoti cnc. Thank you for the level of trust and confidence you have placed in us. Your decision to join us as investors has boosted our confidence to another level. I want to assure you that we are fully committed to maximizing the value of our shareholders. We truly understand responsibility that comes with your investments and we promise to deliver the best of us. With your support and backing, we are confident to achieve even greater height in days to come. I would like to take this opportunity to express my heartfelt gratitude to each of you for your belief in our company’s potential.
Welcome to the Jyoti family. This is our sixth consecutive quarter of robust growth. We have made a good base to carry forward the growth momentum going ahead. Let me take you through the quarter three numbers. We have cloaked the consolidated revenue of 449.5 crores in quarter three FY25 as compared to at 337 crores in quarter three FY24 delivering the growth of 19%. We have closed the consolidated EBITDA of 112.6 crores in Q3FY25 as compared to that 96.3 crores in Q3FY24 delivering a growth of 17%. The EBITDA margin is 25% in Q3FY25 as compared with that is close to 25% in Q3FY24. We have maintained the same margin year on year. We have cloaked the Consolidated PBT of 93.1 crore in Q3FY25 as compared to 67.2 crores in Q3FY24 delivering growth of 39%.
We have closed the consolidated PET of 80.2 crore in Q3FY25 as compared to that of 48 crore in Q3FY24 delivering the robust growth of 67%. Our Q3FY25 consolidated revenue is 449.5 crores, consists of 49% of the Aerospace 16 percentage of the Auto and Auto component, 21 percentage from General Engineering 10 percentage from EMS and 4% of a red bugger. Our Q3 FY25 order intake comes to 492 crores which consistence of 34 percentage from aerospace, 25% of auto and auto components, 36% from general engineering, 1 percentage from die and mold and 4 percentage of rest others. Our total consolidated order book as on 31st December 2024 stands at 4360 crores. The industry segment split for the same age 41 percentage from aerospace, 16 percentage from auto and auto components, 18 percentage from general engineering 16 percentage from EMS, 4 percentage from dye and mold and 5 percentage from purchas.
Now let me take you through the consolidated nine month performance of the company in terms of revenue we have cloaked the consolidated revenue of 1,242 crores in 9 months FY25 as compared to the 888 crores in 9 months FY24 delivering the growth of 40%. In terms of EBITDA we have cloaked the consolidated EBITDA of 313 crores in a 9 month FY25 as compared to 167.1 crores in a 9 month FY24 delivering the growth of 88%. The EBITDA margin is 25.2 percentage in 9 months FY25 as compared to that 18.8% in 9 months in FY24 in terms of a profit before tax at the PBT level we have cloaked the consolidated PBT of 271.2 crores in 9 months FY25 as compared to that 77.3 crores in 9 months FY24 delivering the growth of 251%. In terms of the profit after tax we have cloaked the consolidated tax of 207 crores in 9 months FY25 as compared to that of 51.2 crore in a 9 month FY24 delivering the crop of 304 percentage. Our total consolidated revenue for 9 months FY25 stands at 1242 crores. The industry segment speed for the same is 45% from Aerospace, 24% from Auto and Auto component, 18% from General Engineering 7 percentage from EMS, 1 percentage from Diane Mold and 5 percentage rest others.
There are many people who have been joined over here. That I’ll make a very quickly Jyoti at a glance the company started inception in 1989. We have a subsidiary company called Huron Grafensaden as in France, Germany, Canada and Turkey. Our total plant area is close to 253,000 square meter. We have a two manufacturing facility at Rajpur and one facility at Strasbourg, France. We have more than 200 plus product variants and more than 130,000 plus machine installed across the globe Today our closing order book is close to 4360 crores over here today our plant install capacity has reached to 6,000 machines per annum in India and 120 machines as per annum at France. In a key milestone on 2225 we have launched around seven new models in January 2025. The model called as a GU8. This is a five axis gantry type machining center.
AWP is an alloy wheel turning machine. BTM is a twin spindle with a gantry automation. ATM 200 is an inverted turning center with automation especially for the EV segment. HP 4000 and 6000 is a high performance series of a horizontal machining center. Tekion Beta is a one of the 5X’s highest the world the fastest. The machining center that we have been developed and this is the key milestone in 2025 in terms of a total employee count as reached to now at December 2024 is to be 3277. And we have added approximately 200 people in Q3. In line with our increased focus on execution from 1 April to 31 December, close to 390 people have been added on a Jyoti team over here Entire plan is fully vertically integrated. We have all manufacturing facilities like your own foundry. We do all critical machining components, heat, metal shop, paint shop, all the world class sub assembly assembly and the R&D Center.
The RD center is. Let’s say we have more than 140 engineers working at Rajkot and combined to be a Strasbourg at all. In this journey we have developed more than 200 plus product variants and we have added seven in this year. In particular in our FY 2025 over here in terms of a manufacturing capacity we have a close to a 237,000 square meter is industrial area at Rajkot. And phase one we have a 6,000 machine per annum as a capacity has been installed. And we have furthermore three more phase we can do over here on the same facility that much of phase are available over here.
Huron as basically is our technology backbone. Basically Huron is located in a very strategic location on a central part of Europe. It’s a border of a France jump and Switzerland place called Strasbourg. Exposure to the world class manufacturing there. Basically all the world machine tool builder is surrounding on a 200 kilometer of area. Huron as a technology excess for us to be a highest sophisticated five axis technology product to be there in our product basket. Because of the Huron we are able to maintain all the aerospace and very high precision manufacturing area to be there. We have a because of Huron and the Huron from 1857 so very renowned brand values they’re carrying and market approach and reach have been given by across the Europe, China, us, Canada and all the areas to be there.
In terms of our sales and distribution network Today we are 29 sales and service centers spread across the 12 states in India, two distributor dealers in India and 11 let’s say other offices and all are like that Mostly Jyoti CNC sales product through its dealer network and directly to its customers there. In terms of a global customer base we are wherever the manufacturing are there. The Huron and Jyoti More than 130,000 plus machine installation across more than 60 countries to be there.
In terms of industry segments we are serving into aerospace, dye and mold, Automobile, electronics, railways, agriculture, infrastructure, oil and gas, healthcare, valves and pumps, Power and bearing industries like that. Our product presence across the value chain we have classified in terms of three categories. We call it as entry level product. We consider entry level product is 0 to 50 lakhs is considered to be an entry level product. Mid range is a 50 lakhs to 2 crore high end machine. We consider 2 crore and above is considered to be higher end product. We have a very marquee customers in terms of a aerospace we have HL, Tata, Airbus, Tai, the Qi, the Safran, the Boeing, Sikorsky, Avic, Bharat Forge. And in automobile all these Tata, Mahindra, BMW, Volvo, Mercedes, Fiat, Volkswagen, Audi and many of our customers are in India. In India we have more than 12,000 plus customer base.
In recent we are recognized by the Times group and best brand in the metal cutting industry consecutively seventh time from 2018 to 2024 and recognized as an iconic brand of India by Ed the Economic Times Edge on this December over here, let’s say road ahead. I would like to tell you something about the global machine tool industry. Today the machine tool consumption worldwide is close to $79 billion. Currently India has a consumer rank of 6 with 3.9 billion consumption and expected to be by 2030. India is expected to be entered into list of top three global consumer of a machine tool globally. There let’s say with this our mission of propelling technology and prospering life in that we are let’s say a strong management team. A world class manufacturing infrastructure, wide range product basket the strong R&D capabilities, large installation base, global footprint legacy and technology from the Huron and manufacturing and the tail wings are let’s say today is manufacturing growth in India. In this we consider like that we have a four engine are our future and of our life there.
The number one engine is already fully fired that we call it automobile and general engineering. The second engine is an aerospace that also has reached to almost equal level over here. The third engine is we are looking to be in the next coming year is to be EMS and going forward the fourth engine we are looking to be a semiconductor industry is to be there in terms of aerospace. The global aerospace market is expected to reach to $1.3 trillion. And at the rate the EHGR is growing almost expected to be grow up to 2030 to 8.2 percentage.
An increase in aerospace spending globally Due to the lot of geopolitical circumstances are there so next another five, six years. We are looking very much the high potential growth we are seeing in aerospace industry in ems. The Indian EMS industries is expected to grow at an annual rate of 34% until FY 2728 reaching its triggered value of close to $54 billion today. Mobile phone exports from India during FY24 has reached to all time high to close to a $15 billion. The overall electronics exports jumped nearly 24% to close to $30 billion in FY24. The potential of a CNC machine demand in EMS industries India is over more than 1 lakh machine within a span of the next five years.
In automobile electrical vehicles the global electrical vehicle market is expected to grow at 17.8% of CAGR during 24 to 2030. The electric car market in India is expected to grow to 56% CAGR during 24 to 20 2013. Global EV market size is expected to reach to close to a 600 plus billion dollar and will grow at close to 9.8% of CAGR by 2028. Here we have a very special product to fit into this all product range over there and we are working and developing many products to manufacture those special components are required to this among the industries the upcoming market we are looking to be a semiconductor. The Indian semiconductor industry is expected to grow at a CAGR of 19.7% from 2022-23 to 2627.
Let’s say the Tata semiconductor chip fabrication unit in Gujarat was approved and with an outlay of nearly close to INR500 billion rupees are there and all our the products we are working towards to develop a new product basket to fit into use of a semiconductor industries to be there strategies for the next leap we have four main strategies are there. First is a people development because the most key challenge in going forward what we are envisaged that the people is a key of this industry. We need a very high quality and precision People are required over here and for that this is our first direction to move forward over there. Product development is a key because we need to produce a variety of range of machines to fit for our customers.
Third strategy is in market expansion. We need to reach out still to some global areas like a USA and China. The biggest potential market is available for us and last a manufacturing capacity hands on the expansion based on the going forward every two years we need to expand our capacity and these are the main four strategies to be there. The first is a people development. To take care of that we have developed a center of excellence and that has been set up over here in our facilities at Rajkot to imbibe the growth mindset to to foster technology and innovation, to ensure the quality, to enhance the productivity, to make Jyoti a great place to work. And with this motto of Lead self, lead others and lead the business in terms of product development.
Recently one of the most renowned exhibition called as Intex held in January 2025 and we have participated at Imtex 2025 which is the largest machine tools exhibition of the nation which takes place every two years. Jyoti has participated with the booth size of close to 1500 square meter and displaying at close to 24 machines a year. The footfall for the Intex 2025 was historically high with 1:33,000 business visitors from 70 countries which might has generated to sport business worth more than 3500 crores and the business inquiries worth approximately close to 37,000 crores. Jyoti has also received a total 3000 plus machine inquiries on this port over here on seven days there we have witnessed very encouraging plus the enthusiasm from the entire industrial spectrum.
Lots of corporate and SMEs were sound bullish on the Capex front and shared their ambitious Capex plan for the near future. It seems a huge investment is on the way in the aerospace and defense, automotive particularly in EV General engineering infrastructure, power, agriculture, dye and mold, healthcare and EMS sector. It was a great opportunity for us to demonstrate our capabilities to complement further forthcoming investment cycle in capital goods. We have launched various state of the art the machines to cater the sophisticated metal cutting application and propose a better substitute against the imports. Let me just remind you here till today the import share in Indian machine tool consumption is more than 60 percentage here in terms of a manufacturing capacity expansion.
On a last call I already discussed about that. The capacity is. Let’s say we have reached 6,000 machines and now we are adding further more capacity based on our order book is so solid and strong and to overcome this that we are going to make close to additional 10,000 machine capacity within the next two years. Over here. The new infrastructure of 6,000 machine plant capacity will come into a full utilization from quarter four of this. The new building at Huron at SO2 will be finished by end of the March. Because in Huron also the expansion is going on and all the necessary industrial and safety permissions are expected to come in the month of May. And the new building will be fully operational from June 2025 to capture the ongoing business opportunities from the European market. As have already added. We already added 24 people at Huron level also.
With this, I once again thanks to all of you there to be participated into this our journey and encouraging to all of us over here. Thank you very much.
Operator
Thank you sir. Should we begin the question-and-answer session?
Parakramsinh Ghanshyamsinh Jadeja — Chairman & Managing Director
Yeah. Yes.
Questions and Answers:
Operator
Thank you. We will now begin the question-and-answer session. Anyone who wishes to ask a question may press star and one on the Touchstone telephone. If you wish to remove yourself from the question queue, you may press star and do. Participants are requested to use handsets while asking a question? Ladies and gentlemen, we will wait for a moment while the question queue assembles.
The first question comes from the line of Akshay from AK Investments. Please go ahead.
Akshay Kaila
Hello. Am I audible?
Operator
Yes. May I request you to use your handset please?
Akshay Kaila
Yeah. Hello?
Operator
Yes, sir. Please go ahead.
Akshay Kaila
Yeah. So I just wanted to understand the quarterly numbers. So this quarter also we have sold good growth. But if we compare the first two quarters of this fiscal year, then growth was even more compared to the quarter three year on year growth. So can we have some color on that front? And second on the quarter four? How do you see the quarter for shaping up in terms of growth? Year on year growth?
Parakramsinh Ghanshyamsinh Jadeja
I could not understand your first question.
Akshay Kaila
Sir, after the robust first two quarters in the first quarter we had year on year growth of 74% and in the second quarter we had 33% growth. But in three this quarter we have only 19% growth year on year growth in the quarter three. So can we, can you put some light on that and how we stepping up of quarter four is going to be?
Parakramsinh Ghanshyamsinh Jadeja
Yeah, thank you. I understood now. So basically this in a quarter two and quarter three we have let’s say in a past call also I told you that we have reached to some bottleneck area to be there in terms of the growth. And that’s why we are with this removing this and we have removed in September. We have put up all infrastructure into place over there on a quarter to end. And this is let’s say all the systems and procedures and everything is set right into this one quarter. And you will see this all the additional facility comes in picture that will you will see in the coming quarters to be there.
So quarter two and quarter three we were completely utilized almost a good level of capacity to be there. And there were bottleneck was there. It has been removed. But that we have a long manufacturing process in all so that we will see the color in coming quarters in terms of the quarter four compared to the this quarter three. You will let us see the a good growth to be there. Momentum was maintained there.
Akshay Kaila
Okay sir. And secondly my question is on the order book front. So currently we have the order book of around 4,300 crore. So what is the expected timeline to execute the same and can we maintain the same current EBITDA margin of 25% in this order?
Parakramsinh Ghanshyamsinh Jadeja
Yeah. So in terms of what order we have integrated. Okay. So based on that definitely we are able to maintain our margin level over here from going forward up to this order book level also to be there today. Based on our today’s run rate this order book is close to two and a half years. But none of our customers are expected to be like that. So that’s why we are expanding our capacity and furthermore expanding and we would like to finish this order as soon as possible.
Basically, today’s run rate this order book is close to two and a half years. But our customer expectation to deliver faster than we are also enhancing our facilities. So we are also expecting to deliver much faster.
Akshay Kaila
Okay sir, thanks. Thank you for the answer.
Operator
Thank you. The next question comes from the line of Sandeep Jain from Baroda BNP Paribas Mutual Funds. Please go ahead.
Sandeep Jain
Hi sir. Thank you for taking my question. A couple of things. In the current quarter order book we have not received any EMS orders. Is that right? Means if it is showing a zero percent kind of?
Parakramsinh Ghanshyamsinh Jadeja
Yes.
Sandeep Jain
Okay. Any specific reason or are we expecting further order from here kind of?
Parakramsinh Ghanshyamsinh Jadeja
Yeah. So basically even let’s say the last quarter we got a big order and all and today our order booker is such. And we’re there. It’s less than two and a half years the delivery time today. Okay. Once the light will come off, our manufacturing capacity will increase. Okay. And our customers also will feel that we have a now capacity in place. We will see the furthermore orders on an EM.
Sandeep Jain
Okay. So the 525 crores of order which we have got in quarter two, the execution timeline for that is two two and a half years kind of?
Parakramsinh Ghanshyamsinh Jadeja
No, that is. We have to. The expectation is to this. This entire order book order we have to release before let’s say December and the last quarter of a third and fourth quarter we have to finish it.
Sandeep Jain
Okay. And then only you will get the new order. That is the correct reading?
Parakramsinh Ghanshyamsinh Jadeja
It’s not like that. But in capacity in line [Foreign Speech]. There will be some more orders.
Sandeep Jain
Okay. And in this quarter if I look at the revenue growth was around 19%. Right. So I expect that the overseas there would be outside India there would be a less sales kind of. So what is the situation there? What is the India sale? What is the outside India sale and how the overall order book [Foreign Speech]?
Parakramsinh Ghanshyamsinh Jadeja
Yeah. So, basically [Foreign Speech], that mainly has come from.
Sandeep Jain
Okay. 1800 crores.
Parakramsinh Ghanshyamsinh Jadeja
Yeah. So that’s the. In France we have one of the best order book situations today. Today, there are — we are facing only one challenge over there. It’s a really we are plumbing on a capacity side there. The full floor is jammed there because we have all this manufacturing. You know that these machines have very high value machines each machines are more than 10 crores like that and occupying a more space are there. And our infrastructure is still let’s say is under enhancement. Once that will be in place the Huron we will see the much bigger growth in a next coming after two to three quarters there.
Sandeep Jain
Okay. So in this quarter if I look at. I mean so…
Parakramsinh Ghanshyamsinh Jadeja
We are parallel in my just my speech I covered that we have added almost 24 people because parallel we need a people also. So there’s all people also is under training and everything has been done now. So almost 15 percentage of the people also have been there. And we feel we are putting up the people parallel to our infrastructure to be there.
Sandeep Jain
And the growth in the revenue is 19% for this quarter only year on year growth. But aerospace and defense is contributing around 220 odd crore. So where is the kind of. You know means. I feel that it is below our guidance kind of thing. Whether this will be bunch up in the quarter four or what is we can understand about it?
Parakramsinh Ghanshyamsinh Jadeja
So, in terms of a aerospace and the execution of aerospace. If you look at that in this quarter it’s close to 49 percentage execution in the aerospace industry.
Sandeep Jain
Correct.
Parakramsinh Ghanshyamsinh Jadeja
Okay. And that is compared to quarter three. Quarter three was 38%. So, it improved a lot. Yeah.
Sandeep Jain
No. So the revenue growth guidance of what will be the revenue growth guidance for the full year then means are we on track to achieve 2000 crore of revenue?
Parakramsinh Ghanshyamsinh Jadeja
Based on. Let’s say we have not made any guidance like that over here in a call anywhere. But we are let’s say in terms of this execution will improve. Definitely. We will march towards to all our target values.
Sandeep Jain
Okay. And the miss in this quarter is largely due to?
Parakramsinh Ghanshyamsinh Jadeja
Let’s say execution side. The capacity just came in September and that’s the first quarter only we have seen. So all the settlement and everything was going on and parallel. We were developing a many new product the participation.
Sandeep Jain
Okay, fine. Thank you.
Operator
Thank you. The next question comes from the line of Swanand Samant from Klay Capital. Please go ahead.
Swanand Samant
Hey. Hi. Congrats on the good set of numbers. So my question again is on the revenue side. So if I remember correctly at the start of the year we have an order book of somewhere about 3000 plus crores. And at that point of time we guided that this is executable over a period of one and a half year. So if I back calculate it, our revenue run rate should have been somewhere about 550 crores. Which has not been the case for the past three quarters. So just wanted to understand. You said that the one of the bottleneck was the capacity. But do that guidance still kind of holds? Do we kind of can we increase this revenue run rate going forward? That’s my first question. I mean what is your sense how quickly we can ramp this up?
And secondly, on the order inflow side, especially on the aerospace and defense. So, we have got somewhere about 550 crores in the nine months in terms of order inflows. But if I remember we were guiding about 1500 course of order inflow at the start of the year. So, just wanted to get a sense from you what’s happening there. Why are we kind of have underperformed on that?
And secondly, the mix of the order books. A related question to that. The mix of the order errors based on dependency closing order book has gone down to somewhere about 40% which I think is the highest had the highest margins for us. So kind of when we start executing this 4000 crores of order book, do we expect that the margin next year would or could be slightly lower than financial 25? Yeah, those are my questions. Thanks.
Parakramsinh Ghanshyamsinh Jadeja
Yeah, so there are many questions in queue then. Okay. In a one year question. Okay, so let me start with the first to be a capacity. Okay, let’s say we let it today also. I mentioned in my previous answer that today based on this 4360 crores of the order book in terms of today’s run rate. It let’s say it will take two and a half years. And we are fully committed to our customers to where their expectation also is to be within 18 to 20 months like that. So we are increasing our capacity. The first benchmark we have finished on September. The things are in place in a ground reality. We will see this in the coming quarter to see the numbers there parallel we have started to expanding furthermore there to overcome over here. And that’s now the story behind that.
We are also aggressively behind that on our capacity. Because this is today is the capacity constraint is only is a blocker for us to increase our run rate. And even in my call, in my speech I covered that because the people is a key. This is all our quality executions like that. And these all are very high precision assemblies and all that. We have added 400 people around nine, nine months. We have trained them. We put onto that and many people still more on it. So we all are trying to fulfill our quality commitment to our customers and to reach out their delivery target date like that number two or you have asked that about aerospace and defense today.
Let’s say we are not aggressively taking the orders because already we have reached to two and a half months and until these customers are not seeing that the deliveries are happening and then the plant capacity comes into place. There are big pipes. Are there many many inquiries are online there on. On a future this meant to be there. I think this is your two. What is your further third and fourth question or that, can you you remember?
Swanand Samant
Yeah, yeah. So early on the again on the margin side the error switch and events if I’m not wrong has the highest margins for us. So if on the closing order book basis that has gone down to 40% versus on a month nine months standard is about 45% plus. So do we expect some kind of moderation in margins for next year as compared to this year?
Parakramsinh Ghanshyamsinh Jadeja
In terms of today’s closing order book, okay. Our order book still in aerospace is close to 40% plus there revenue line. Okay. In terms of the closing order book in action, it still is an arrow space as a 41% in there combination of this. We don’t see any. This is not an only the value is not defined only the aerospace. Even in a general engineering and all I said that our business model divided into three categories. Entry level product, mid range machine and high end machine. Okay. So mid range and high end. Also in general engineering role this is increasing. Okay. Even this quarter we have seen a 36 percentage over there. So we don’t foresee in the next two years in any challenges in terms of a margin area.
Swanand Samant
Okay, got it, got it, got it. And just to follow up on the capex side. So how when is the kind of new capacity coming in and how quickly can we ramp up? Because I think that’s the only bottleneck we are talking about right now. Right. So how benefit coming and how quickly can we ramp it up?
Parakramsinh Ghanshyamsinh Jadeja
So basically we are enhanced the full capacities in 10,000 machine. But partially we are expecting to first support will come in terms of half the capacity or let’s say 3,000 to 4,000 for the machine in this third quarter of this financial year FY26.
Swanand Samant
Okay. So for the next year also we would be at the same capacity is what you are saying?
Parakramsinh Ghanshyamsinh Jadeja
Close to only on a third quarter we will see the some more lights on this 10,000 machine. Extra capacity will come in a picture. So out of that close to 3,000, 4,000 machines partially we are able to see the capacity supports will come on a December quarter.
Swanand Samant
Okay, thanks.
Operator
Thank you. The next question comes from the line of Sanidhya [Phonetic] from Unicorn Assets. Please go ahead.
Sanidhya
Hi sir. Congrats. Two questions.
Operator
May I request you to use your handset please? You’re not audible.
Sanidhya
Yeah. Is it better now?
Operator
Yes sir, better. Thank you.
Sanidhya
Yeah. Hi, good evening. And good set of numbers. So my first question sir is on the execution side. So can you highlight the number of machines that we delivered this quarter?
Parakramsinh Ghanshyamsinh Jadeja
Yeah, yeah. So a number of machine in this quarter we have delivered is to be 894 machines with the the highest ever value average has reached to 50.27.
Sanidhya
Yes, understood. So this is likely because of the mix up from aerospace and defense being higher this quarter.
Parakramsinh Ghanshyamsinh Jadeja
Correct.
Sanidhya
Okay, great. So could we see this dip a bit because of the EMS getting into the like deliverables in the next few quarters or do you think this is manageable on the overall order book?
Parakramsinh Ghanshyamsinh Jadeja
So based on the order book I think we will go near in between around 45 to 50 legs of a range to be there average.
Sanidhya
Okay. And when do you think will be execution from the AMS will push in?
Parakramsinh Ghanshyamsinh Jadeja
See the parallel AMS the number will increase but parallel we are the adding capacity in aerospace also. So it will go hand on hand. So we are expecting to in this entire order book will be average range to be in every quarter will be in between 45 near 45 to 50 only.
Sanidhya
No, I was explicitly interested was asking into that is there any slowdown in the demand from the EMS or what are we hearing from the customer?
Parakramsinh Ghanshyamsinh Jadeja
Not at all. Not at all there. In fact we are now expecting to more capacity come much faster so we can participate on a bigger weather.
Sanidhya
Great. On the new capacity addition. So what’s the status? What have we tried this quarter?
Parakramsinh Ghanshyamsinh Jadeja
Basically all the construction of building is going on. The machine shop building is already. Let’s say it is going to be completed the first day in this before the March. The assembly building we are expecting to finish somewhere in September. And then all the equipment and everything will be start fitting over there on a first phase there. All the treatment and all the machinery is already. It is going to start to be on a first quarter it will reach to us.
Sanidhya
This facility is in Rajkot near our existing or somewhere…
Parakramsinh Ghanshyamsinh Jadeja
On existing building only. We have in existing. Let’s say we have a large extra land was available. So phase one was 6,000 machine and second phase we are doing close to 10,000. Everything is on the same flip.
Sanidhya
Okay. And the images you have shared in the presentation are from the new building or they are all from the old capacity?
Parakramsinh Ghanshyamsinh Jadeja
No, no, these are. The new building is under construction.
Sanidhya
Okay. Could you highlight which one among the on I guess on the page number 35 there are four images.
Parakramsinh Ghanshyamsinh Jadeja
One second. Yeah. So what you are seeing in a newly developed assembly line, okay, On a page number 35, That is the part has been constructed in September, okay. And that is already been put to use there. Okay. In the left side what you see the green is not today the green now. Okay. This new building is almost about to finish there now, what I said that will be ready in March and every year. Okay. So similar way will be the next left side on the same picture there is the left side. This building is almost now is on the final stage. So almost a double building is built in.
Yeah. And in terms of a assembly what you see that in a picture in bottom is returned to the new sub assembly under construction. So that was the part of our the first bottleneck removal that has been over and it is put to you there now then you see the newly developed assembly line in the left side. It’s not in full picture there. And there another assembly line under construction that will be finished in somewhere in September.
Sanidhya
Okay, great, sir. And so just one input in this. It would be great if we can highlight these things on our social media handles across platforms and timely updates would be really helpful.
Parakramsinh Ghanshyamsinh Jadeja
Excellent. We’ll do that. And I invite you to visit our plant also. Then only you can verify that very well. You are most welcome.
Sanidhya
Sure. Thank you. Thank you.
Operator
Thank you. The next question comes from the line of Kushal Mondal with Yashwi Securities Private Limited. Please go ahead.
Kushal Mondal
Am I audible?
Operator
Sir, may I request you to use your handset? You’re not audible.
Kushal Mondal
Am I audible now?
Operator
Hello?
Kushal Mondal
Hello? Am I audible?
Operator
Yes sir, please go ahead.
Kushal Mondal
So what is the current capacity utilization of Coron and how many machines were sold in this quarter?
Parakramsinh Ghanshyamsinh Jadeja
So in terms of where this our capacity is close to a this year is 35 to 40 million euro. To be executable there it means 7 to 8 million euro is an 8 million on a 8 to 9 million on a per quarter like that. And we are running right now more than 80% capacity.
Kushal Mondal
And what is the number of machines sold in this motor?
Parakramsinh Ghanshyamsinh Jadeja
One second. We have made close to a 17 machine to be there.
Kushal Mondal
Okay. And the 10,000 additional capacity will come till December 2026. So what will be the utilization level for the additional capacity for the full fiscal?
Parakramsinh Ghanshyamsinh Jadeja
So, let’s say this, until today we have made close to 2,800 machines in three quarters, okay, particularly 2723 and we will touch close to 4,000 and 4,500 in between in this, in this year, okay, FY25. And FY26, what your question is FY26. FY26 numbers, we’ll see how the capacity utilization capacity will be ready and utilization.
Kushal Mondal
Okay. And you’ve said that 400 crores of capex were announced for this additional capacity. And I remember that in one of the interview you said the asset turnover ratio will be 4x which means 1600 crore of cents. So now currently the PAT margin is at 15 to 18% which means that you will make around 240 crores of profit from the additional capacity. That is 1600 crore of sales which makes that on 400 crore of capex you are making 240 crores which means an ROCE of 60%. So, can you…
Parakramsinh Ghanshyamsinh Jadeja
So yes, we are going to do the 400 crores of a Capex and based on this Capex the capacity will reach out to be a 16,000 machine. It means additional 10,000 capacity will be there. And based on that or your questions I have given an answer and it is absolutely right.
Kushal Mondal
So you are going to make around 60% of ROC, right?
Parakramsinh Ghanshyamsinh Jadeja
In terms of a particular if you calculated add on value it’s right there. Okay. But if you make total it will not come to be a ROP level like this.
Kushal Mondal
And calculated the add on value like for the 10,000…
Parakramsinh Ghanshyamsinh Jadeja
Base on today’s plant the investment because this is an incremental investments are there.
Kushal Mondal
So like on 400 crore of capex the the APR you said that it will be 4x means 1600 of 1600 crore of sands. So what will be the timeline for this cell revenue number?
Parakramsinh Ghanshyamsinh Jadeja
So that I told you the ones the letter the capacity comes in a picture and all I told you in past also that entire 16,000 capacity will be utilized in three years.
Kushal Mondal
Okay. So thank you sir.
Operator
Thank you. The next question comes from the line of Harshad [Phonetic] from Green Investments LLP. Please go ahead. Harshad, your line has been unmuted. Please go ahead with your question. Hello, Mr. Harshad? As there is no response we move to the next participant.
The next question comes from the line of Kamlesh Jain from Lotus Asset Managers. Please go ahead.
Kamlesh Jain
Yeah, thanks for the opportunity. And so just congratulations on one of the best exhibition we had from the Indian companies in imtex. So very, very managed. [Speech overlap] Yeah, I have been there sir.
Parakramsinh Ghanshyamsinh Jadeja
Thank you. Thank you very much.
Kamlesh Jain
So just based on your guidance. So it suggests that in last quarter Q4 we would be doing roughly around 70 odd percent growth year over year in terms of machine sold which would be around 1500 plus and 54 quarter, 54 to 55% quarter growth.
Parakramsinh Ghanshyamsinh Jadeja
That’s the target we are running today.
Kamlesh Jain
Okay. And so just on the more on the competition side because we have been hearing like all your competitors have become much more aggressive seeing the growth in India and particularly in the CNC. So how are we seeing the competition and how we are in terms of pricing as compared to like say or any other counterpart on the particularly on the pricing side?
Parakramsinh Ghanshyamsinh Jadeja
See first of all it’s a great opportunity to everyone. Because the Indian market is growing more than 20%. And the way manufacturing is going to grow old world people are targeting to India today anyhow there is a 60% still the machines are coming from abroad there particularly company like Panuk and everyone like that. And most of these supplies are coming from Japan, Germany, Europe, US and all these areas. Taiwan and particularly Korea also there again these all the competitors. The way Jyoti has in position in terms of our plant capacity, the capacity installation and like that we are one of the most competitive manufacturing landscapes.
I know you yourself has visited and you know, you have seen our facility how competitive and still we are making. This factory is one of the world class factories to be here. I think we are very much prepared to complete this. All the brands already they are here and they will increase the load. We are also growing very well over here and we are able to complete them very nicely. In terms of a pricing there in terms of a technology also have you seen that in Intex that we have now until today we all were always talking to like this.
Our machines are competing to Japanese. We are able to maintain them. We have the same accuracy level or we have a 10 technology on like that until today all are we Indians are talking to be like this now. And if you have visited there in exhibition. So you have seen that we have over crossed this boundaries now. Now we have made this machine. What we say this Tekken Beta is a twice faster than the Panukuro. But it okay and many many other Japanese machine tool builder there. So we have lived, we have gone ahead there in terms of a technology demonstration also to be there. So we are fully equipped for this competition in terms of technology, in terms of execution and cost competitiveness there.
Kamlesh Jain
Secondly, on your operation side, in the EMS division like so there have been lot of media reports that delivery of Chinese labor or the Chinese machinery that has been getting delayed over last six months, nine months. So how are we seeing the execution on that particular site? Because that the reports have been too much armed out that particular side. So are we seeing the delay in execution or in the delivery of your machines?
Parakramsinh Ghanshyamsinh Jadeja
No, we have not seen any disturbances like that. Okay, because these are the still there are. All of you, we have just everything is looking from the media and all. And if this kind of things will happen in future, I think that will be the great opportunity for all Indian machine tool builder to make similar products. If the machines are not coming from China and they are not allowing their people to hear. So the space is open for us there.
Kamlesh Jain
And lastly, sir, will you please give the breakup between entry level, mid level and high end.
Parakramsinh Ghanshyamsinh Jadeja
Your voice is very.
Operator
Audio is not clear. So may we request you to use your handset?
Kamlesh Jain
Can you please provide the breakup between entry level, mid level and high level machine?
Parakramsinh Ghanshyamsinh Jadeja
One second. So quarter three. Yeah. So basically quarter three, the number of machine in an entry level was 817. The mid level machine was close to a 22 and high end machine was close to a 55.
Kamlesh Jain
Thanks a lot. Thanks a lot. I wish you all the best.
Parakramsinh Ghanshyamsinh Jadeja
Thank you.
Operator
Thank you. The next question comes from the line of Partha Mazumder from Eastern Financiers Limited. Please go ahead.
Partha Mazumder
Yeah, hello sir. Am I audible?
Parakramsinh Ghanshyamsinh Jadeja
Yeah.
Partha Mazumder
Yeah. I just need to know, I mean in aerospace and what are areas that in our machines are actually on the fabricated using our CNC machines. Hotel parts are actually manufactured in aerospace.
Parakramsinh Ghanshyamsinh Jadeja
Beg your pardon, please. Tell me your question clearly.
Partha Mazumder
Yeah, in aerospace, I mean our CNC machines are deployed in which parts are actually, you know, you know, manufactured using our CNC machines.
Parakramsinh Ghanshyamsinh Jadeja
The Jyoti machine is basically been used into all structural part machining and our core competencies and maximum machines are going into engine manufacturing.
Partha Mazumder
Okay, so for instance if I want to know, are this into engine parts or.
Parakramsinh Ghanshyamsinh Jadeja
Yeah, Indian parts.
Partha Mazumder
Indian parts, right, sir?
Parakramsinh Ghanshyamsinh Jadeja
Yeah, the maximum machines are going into engine parts.
Partha Mazumder
Okay. Yeah.
Parakramsinh Ghanshyamsinh Jadeja
We have a product are going into structural machining also.
Partha Mazumder
Okay. So I mean for instance like another engine company which Azad Engineering actually manufactures critical engine parts. So Azad would be one of our customers?
Parakramsinh Ghanshyamsinh Jadeja
Azad is a prime customer. This year also we have supplied many machines and they are expanding this further more capacity and we are supplying all the machine from Jyoti.
Partha Mazumder
Okay, yeah, sure. Thank you. Thank you sir. That was great, sir.
Operator
Thank you. The next question comes from the line of Kushant Arora from Baroda BNP Asset Management Limited. Please go ahead.
Kushant Arora
Yeah. Hi sir. Thanks for taking my question. Sir just a book keeping part of. I mean I just wanted to understand that what is the contribution of Huron on nine months basis and for this quarter?
Parakramsinh Ghanshyamsinh Jadeja
So, Huron, let’s say one second. Huron has done, let’s say close to a 200 crores of revenue in this nine months. Okay. And for this quarter, it was close to a 65 crore.
Kushant Arora
65 crores. And what would be the EBITDA contribution for these?
Parakramsinh Ghanshyamsinh Jadeja
Great. So EBITDA in Huron is reached to a 15.75 percentage.
Kushant Arora
All right. All right. It’s on nine months basis, this…
Parakramsinh Ghanshyamsinh Jadeja
In nine month basis. In a part last year nine one basis it was a loss.
Kushant Arora
Right. Okay. Thank you.
Parakramsinh Ghanshyamsinh Jadeja
It’s a substantial improvement has been seen in a Huron level.
Kushant Arora
Understood, sir. Thank you.
Operator
Thank you. Ladies and gentlemen, that is the last question for the day. I now hand the conference over to the management for closing comments.
Parakramsinh Ghanshyamsinh Jadeja
Thank you very much to all of you. The way your enthusiasm and participation in the question and the way right now all the additional facilities is coming up. I’m inviting you all of you to visit our plant and to be a presence over here. Thank you very much.
Operator
Thank you. On behalf of Equirus Securities, that concludes this conference. Thank you for joining us. And you may now disconnect your lines.