Updated: 10 December 2025
Jyoti CNC share price today: strong intraday rally, heavy volumes
Jyoti CNC Automation Limited (NSE: JYOTICNC, BSE: 544081) was among the most active mid-cap names on Dalal Street on 10 December 2025, staging a sharp intraday rally after a week of pressure.
- Around 11:46 IST, the stock spiked 6.5% to ₹990.9 on the BSE, making it the biggest gainer in the BSE “A” group, with volumes of 2.56 lakh shares versus a one‑month average of just 48,627 shares. [1]
- By 14:36 IST, Jyoti CNC was trading near ₹955 on NSE, up 2.7% versus the previous close, within a day’s range of ₹930.40–₹1,005.65, and combined NSE + BSE volume had swelled to about 5.5 million shares, far above the recent average. [2]
Fundamentally, market data from Screener shows: [3]
- Current price: ~₹966 (around 14:02 IST snapshot)
- Market cap: ~₹21,971 crore
- 52‑week range: ₹750 – ₹1,504 per share
- Stock P/E: ~63.5
- Book value per share: ₹80.5
- ROCE: 24.4%
- ROE: 21.2%
At current levels around the mid‑₹950s, the stock is roughly 36–37% below its 52‑week high near ₹1,504, but still almost 190% above its IPO issue price of ₹331 (see IPO section below). [4]
From blockbuster IPO to high‑valuation consolidation
Jyoti CNC Automation was one of the headline listings of 2024:
- The IPO in January 2024 was a ₹1,000‑crore all‑fresh issue, price band ₹315–331.
- Shares listed on 16 January 2024 at ₹370, an 11.8% premium to the issue price. [5]
- By late December 2024, the stock had hit around ₹1,354.50, delivering about 309% returns over the issue price and featuring on “multibagger IPOs of 2024” lists in both Mint and Economic Times. [6]
Since then, the price has swung between euphoria and consolidation:
- 52‑week high: ~₹1,504
- 52‑week low: ~₹750 [7]
- Screener data pegs the 1‑year price CAGR at about –29%, reflecting the correction from peak levels even as the business has continued to grow earnings. [8]
In short: Jyoti CNC is still a multi‑bagger versus IPO, but the stock is no longer in a one‑way uptrend; it’s behaving like a high‑beta, high‑expectation industrial name in a mature bull market.
What does Jyoti CNC actually do?
Jyoti CNC Automation is a leading Indian manufacturer of metal‑cutting CNC machines, including high‑end simultaneous 5‑axis CNC machines, with an estimated 10–12% domestic market share. [9]
Key points about the business: [10]
- Serves aerospace, defence, auto components, and general engineering customers.
- Operates through Indian facilities and its European arm Huron Graffenstaden SAS in France.
- Positioned as a higher‑value player in precision machining and complex parts, not a pure commodity machine tool maker.
This positioning means earnings are leveraged to capex cycles in manufacturing, defence and exports — sectors currently seeing multi‑year investment in India and abroad, but also inherently cyclical.
Recent financial performance: strong growth, healthy margins
The latest consolidated numbers (Screener, based on company filings) show a business that has scaled up rapidly over the last few years: [11]
Full‑year trend (₹ crore, consolidated)
- Sales:
- FY2019: 965
- FY2020: 687
- FY2021: 532
- FY2022: 746
- FY2023: 929
- FY2024: 1,338
- FY2025: 1,818
- TTM (trailing twelve months): 1,943
- Operating margin (OPM): improved from ~8% in FY23 to 22% in FY24 and 27% in FY25, with TTM at about 26%.
- Net profit:
- Losses in FY2020–FY2023 (–₹5 crore in FY23)
- ₹151 crore in FY2024
- ₹316 crore in FY2025
- ~₹346 crore TTM, with EPS ~₹15.2
Screener’s calculated 5‑year compounded profit growth is about 43%, and sales growth about 21%, with 3‑year profit CAGR above 100% as margins stepped up. [12]
Latest quarterly results (Q2 FY26 – quarter ended September 2025)
From the September 2025 consolidated numbers: [13]
- Revenue: ₹508 crore vs ₹431 crore in Sep 2024 (≈18% YoY growth).
- Net profit: ₹86 crore vs ₹76 crore (≈13% YoY).
- Operating margin: ~25%.
- EPS for the quarter: ₹3.76.
Capital Market notes that consolidated net profit for the September 2025 quarter grew about 12.7% YoY, broadly matching the YoY calculation above. [14]
Overall, the company is still delivering double‑digit growth with structurally higher margins versus its pre‑IPO years — one of the key pillars of the bull case.
Balance sheet and shareholding: moderate leverage, rising institutional interest
Screener’s consolidated balance sheet data suggests moderate, not extreme, leverage: [15]
- As of March 2025, total borrowings were ~₹497 crore against equity capital + reserves of ~₹1,686 crore, implying a debt‑equity ratio well below 1x.
- ROCE has improved to ~24% and ROE to ~21%, consistent with a capital‑efficient growth phase.
Working capital, however, is something to watch:
- Debtor days have risen from 74.3 to 97.7, and working capital days from 112 to 203 on Screener’s checklist, indicating more capital tied up in receivables and operations. [16]
On the shareholding side, institutional participation has clearly risen since listing: [17]
- Promoters: steady at 62.55%.
- FIIs: up from 5.75% (Mar 2024) to 9.91% (Sep 2025).
- DIIs: up from 5.89% to 12.90% over the same period.
- Public float: down from 25.81% to 14.63%, as institutions absorbed more stock.
That shift supports the narrative that larger investors are accumulating the name — but it also means a smaller free float with potential for sharper moves when sentiment flips.
Key corporate developments in 2025
1. New capacity in France: Huron Graffenstaden
Through its French subsidiary Huron Graffenstaden SAS, Jyoti CNC commissioned an additional production facility in Strasbourg on 19 November 2025.
- BSE disclosures (as summarised on Screener) state that the new facility has commenced operations and effectively doubles capacity at Huron, strengthening the company’s ability to serve aerospace and other high‑precision global customers. [18]
This is strategically important: high‑end European capacity under the Huron brand can support exports and premium pricing, which feeds into the margin profile that investors are paying up for.
2. Karnataka machine tool centre – ₹285 crore capex
In March 2025, the Karnataka government approved 69 industrial projects worth over ₹3,500 crore. Among the key approvals: [19]
- Jyoti CNC Automation Limited plans to invest ₹285 crore in a machine tool centre at Tumakuru Machine Tools Park (TMTP), Vasanthanarasapura, Tumakuru district,
- The project is expected to create about 3,394 jobs, according to multiple official and media reports.
Subsequently, a board resolution on 4 July 2025 approved acquisition of 20 acres of land at TMTP in Tumakuru for future expansion, to be funded via internal accruals and/or debt, as disclosed in an exchange filing. [20]
This Karnataka project aligns neatly with the state’s broader push to build a machine‑tool and precision‑engineering hub along the Chennai–Bengaluru Industrial Corridor, including a second Japan Industrial Park in Tumakuru that is expected to attract advanced manufacturing players. [21]
3. Lock‑in expiry overhang in July 2025
One reason for the stock’s volatility this year has been the large block of pre‑IPO locked‑in shares.
A Times of India article in June 2025 flagged that about $1.86 billion equivalent of locked‑in shares across several newly‑listed companies were due to expire in July 2025, including approximately $598 million worth linked to Jyoti CNC Automation. [22]
Analysts quoted in that report warned of potential volatility as these shares became eligible for trading, although they also noted that not all such shares would necessarily hit the market. The July unlock is now behind investors, but it likely contributed to the mid‑2025 correction and remains part of the stock’s risk narrative.
4. Regular concalls, investor engagement and a statutory order
Exchange disclosures compiled by Economic Times and Screener show a steady cadence of investor‑facing activity in late 2025: [23]
- Multiple analyst / investor plant visits in Rajkot (intimations on 24 November and 2 December 2025).
- An earnings call and investor presentation around the September 2025 results.
- On 6 November 2025, the exchanges sought clarification on volume movement, and the company submitted its response the same day — a standard process when trading spikes.
- On 18 November 2025, Jyoti CNC disclosed receipt of an order from a statutory authority, details of which are contained in an attached document in the exchange filing. The summary does not specify the financial materiality, so investors would need to refer to the full text for nuance.
None of these items, as summarised, appear to be game‑changing news events on their own, but together they show an actively monitored and communicative listed company.
Valuation snapshot: growth machine at a premium price
At the current price around ₹960–₹970, Jyoti CNC trades at: [24]
- P/E: ~63.5x (based on TTM EPS ≈ ₹15.2)
- Price‑to‑book: about 12.3x, as flagged by Screener’s “cons” section.
- No dividend despite repeated profits, as the company appears to be retaining cash for capex and working capital.
For context, that is a rich valuation even for a high‑growth capital‑goods company and bakes in expectations of continued double‑digit growth and sustained high margins. Any disappointment on order inflows, margin trajectory or leverage could compress multiples.
Technical and quantitative views: split verdict on the next 12 months
StockInvest.us: upgraded from “Strong Sell” to “Hold/Accumulate”
Technical service StockInvest.us, which tracks daily price and volume data, updated its view on 9 December 2025: [25]
- Last close (9 Dec): ₹930, up 2.02% on the day.
- The stock has fallen in 6 of the last 10 sessions, down ~10.5% over that period.
- Price lies in the lower part of a wide, weak rising short‑term trend, which they see as potentially offering a “very good buying opportunity” unless the lower trend floor (~₹913) breaks.
- They project an 8.26% rise over the next 3 months, with a 90% probability band between ₹988 and ₹1,141.
- Signals:
- Buy signal from a pivot bottom on 8 December.
- But overall sell signals from short‑ and long‑term moving averages and from the 3‑month MACD, leading to an overall conclusion of “Hold / Accumulate” rather than outright Buy.
In other words, their model thinks the worst of the short‑term correction may be over, but doesn’t see a strong uptrend yet.
WalletInvestor: algorithm flags it as a “bad long‑term” 1‑year bet
By contrast, quantitative forecast site WalletInvestor, using its own technical‑pattern based system, is bearish on the 1‑year view: [26]
- It records the current BSE price at ~₹969 on 10 December 2025.
- Their 1‑year target is ₹694.7, implying a possible –28.3% downside.
- The model labels JYOTICNC a “bad, high‑risk 1‑year investment”, flags the recent trend as bearish, and explicitly answers “No” to whether the stock is expected to hit ₹1,000, ₹2,000 or ₹5,000 within a year.
WalletInvestor also publishes daily forecasts, with a 14‑day possible price band roughly between ₹911 and ₹1,012, showing the kind of trading range their system expects in the very short term. [27]
These algorithmic forecasts are not fundamental research, but they are widely shared online and can influence short‑term sentiment, especially among retail traders.
Street research and target prices: modest upside from here
Formal sell‑side coverage on Jyoti CNC is still relatively thin, but the available data points lean constructive.
Analyst coverage and recommendation tone
- Mint’s live stock page notes that one analyst has initiated coverage, with the name carrying a “strong buy” recommendation as of 10 December 2025. [28]
On TradingView’s forecast tab, which aggregates broker estimates: [29]
- 2 analysts have issued 1‑year price targets.
- The consensus target is ₹1,147.50, with:
- Max estimate: ₹1,205
- Min estimate: ₹1,090
- At a spot price around ₹966, that implies roughly 19% theoretical upside if those targets play out.
- TradingView also shows that the company slightly missed its last quarterly EPS estimate (reported ₹3.76 vs estimated ₹3.80) but is forecast to deliver EPS of about ₹4.70 and revenue of ~₹6.18 billion in the coming quarter.
Separately, some Indian retail‑facing websites and blogs publish pattern‑based and machine‑learning price targets extending to 2026–2030, often projecting the stock above ₹1,400–₹1,600 over a 2–3 year horizon. These are not regulated research reports and should be treated as speculative scenarios rather than hard forecasts. [30]
The overall picture: sell‑side research sees measured upside, but nothing like the 300%+ IPO‑to‑2024 blast — while quantitative algos are split, with some short‑term bullish and others notably bearish.
Key positives investors are watching
Based on public data and recent developments, the bullish thesis roughly rests on: [31]
- Market leadership in a niche: 10–12% share in Indian CNC machines, with capabilities in high‑value 5‑axis systems and a credible brand in Huron globally.
- Strong growth + margin expansion: Sales up from ₹929 crore (FY23) to ₹1,818 crore (FY25), with OPM moving from single digits to mid‑20s and ROCE above 20%.
- Capex pipeline:
- New Strasbourg facility doubling Huron capacity.
- ₹285‑crore Tumakuru machine tool centre aimed at tapping the South Indian and export‑oriented manufacturing cluster.
- Rising institutional shareholding: FIIs and DIIs steadily increasing stakes while public float shrinks, suggesting growing comfort among larger investors.
- Supportive macro narrative: India’s ongoing push in manufacturing, defence indigenisation, and “Make in India” offers a favourable backdrop for domestic machine‑tool players.
These elements justify, in the eyes of bulls, a premium valuation versus many other industrial names.
Key risks and pressure points
On the flip side, disclosures and data also highlight several risks: [32]
- Valuation risk: P/E above 60x and P/B above 12x leave little margin of safety if growth slows or margins compress.
- Working‑capital intensity: Rising debtor and working‑capital days could pressure cash flows, especially in down cycles.
- Volatility from supply overhangs:
- The July 2025 lock‑in expiry of pre‑IPO shares (~$598m equivalent) created volatility; any future large block trades or stake sales could have similar effects.
- Cyclical end‑markets: Capex in auto, aerospace and general engineering tends to be cyclical; a global slowdown or delayed investment cycles could hit order inflows.
- Regulatory and governance watch‑outs:
- Exchange queries on volume spikes and receipt of a statutory order (details in attached filings) are normal for a high‑profile IPO but add to the list of things serious investors will scrutinise.
- Divergent technical views: The fact that one respected technical platform calls the stock a hold/accumulate while another flags it as a poor 1‑year prospect underlines the uncertainty around near‑term price behaviour.
How to read Jyoti CNC today
As of 10 December 2025, Jyoti CNC Automation sits at an interesting junction:
- The business story is clearly stronger than it was pre‑IPO: higher scale, better margins, international capacity through Huron, and a fresh domestic capex leg in Karnataka. [33]
- The stock, however, is digesting a multi‑bagger run from its 2024 peak, rich valuations, a major lock‑in expiry, and a patch of increased volatility. [34]
- Street research currently points to moderate upside over the next year, while algorithms are sharply divided on the 12‑month trajectory. [35]
For investors and traders tracking the name, the main questions over the coming quarters will likely be:
- Can Jyoti CNC sustain 20%+ revenue growth and mid‑20s operating margins as capacity ramps up and the Tumakuru project progresses?
- Will the French and Karnataka expansions translate into meaningful incremental earnings without stretching the balance sheet?
- And does the valuation gradually “earn out” through growth, or does the price need to correct further for long‑term returns to look attractive?
Those answers will depend on future data and management execution. For now, the stock remains a high‑quality, high‑expectation industrial play where both upside and downside are amplified by sentiment and liquidity.
References
1. www.business-standard.com, 2. www.livemint.com, 3. www.screener.in, 4. www.livemint.com, 5. www.livemint.com, 6. www.livemint.com, 7. www.screener.in, 8. www.screener.in, 9. www.screener.in, 10. www.screener.in, 11. www.screener.in, 12. www.screener.in, 13. www.screener.in, 14. www.capitalmarket.com, 15. www.screener.in, 16. www.screener.in, 17. www.screener.in, 18. www.screener.in, 19. www.business-standard.com, 20. www.bseindia.com, 21. timesofindia.indiatimes.com, 22. timesofindia.indiatimes.com, 23. economictimes.indiatimes.com, 24. www.screener.in, 25. stockinvest.us, 26. walletinvestor.com, 27. walletinvestor.com, 28. www.livemint.com, 29. www.tradingview.com, 30. www.indiapropertydekho.com, 31. www.screener.in, 32. www.screener.in, 33. www.screener.in, 34. www.livemint.com, 35. www.tradingview.com
