Smallcap stock jumps 4% its JV receives order worth ₹162 Cr from Ircon International

Synopsis: Jaykay Enterprises JV, J K Phillips LLP, secured a Rs. 162.25 crore turnkey order from Ircon International to supply CNC machines for MSME training centres nationwide, supporting government-led skill development and digital manufacturing initiatives.

This is an Indian engineering and manufacturing solutions company focused on providing advanced digital manufacturing and precision engineering technologies is now in the spotlight after its joint venture has secured an order from Ircon International Limited.

With a market capitalisation of Rs. 2,666 cr, the shares of Jaykay Enterprises Limited are currently trading at Rs. 204.60 per share, increasing more than 4% in today’s market session, making a high of Rs. 208.75, up from its previous close of Rs. 200.20 per share.

About the order

Jaykay Enterprises Limited has informed the stock exchanges that its 50:50 joint venture, J K Phillips LLP, has received a Letter of Acceptance (LOA) from Ircon International Limited, a Navratna PSU under the Government of India. The contract is valued at Rs. 162.25 crore (including GST).

The order involves the design, supply, installation, commissioning, and training of various CNC machines for MSME Training Centres located across multiple regions in India. The project will be executed on a turnkey basis (GE-Package-1), with a stipulated completion period of 240 days from the date of issuance of the LOA, i.e., December 16, 2025.

This contract is strategically significant as it supports the Government of India’s “Viksit Bharat” vision, focusing on capacity building, digital transformation, and skill development within the MSME sector. By leveraging government procurement, the project aims to strengthen manufacturing capabilities and promote the formalisation and upskilling of MSMEs across the country.

The order further strengthens the company’s position in high-technology digital manufacturing solutions, driven by its partnership with Phillips Corporation, USA, through Phillips Machine Tools India Pvt. Ltd. The company also clarified that the contract is domestic in nature, does not involve any promoter or related-party interest.

About the company 

Jaykay Enterprises Limited is an Indian engineering and manufacturing solutions company focused on providing advanced digital manufacturing and precision engineering technologies. Through strategic partnerships and joint ventures with global technology leaders, the company supplies high-end CNC machines, automation solutions, and training services to industries and government-backed institutions. 

Its role in the defence sector is primarily aligned with advanced manufacturing, precision engineering, and technology enablement rather than direct weapons production. The company supports the defence ecosystem by supplying high-end CNC machines, digital manufacturing solutions, and automation technologies that are critical for manufacturing defence components. 

The company’s financials show strong YoY growth for Q2FY26. Sales grew 105% YoY to Rs. 63.1 crore from Rs. 30.8 crore in Q2FY25. EBITDA surged nearly 7 times about 694% to Rs. 11.0 crore, reflecting sharp operating leverage. Net profit jumped multifold to Rs. 8.77 crore from Rs. 0.51 crore last year, while EPS increased to Rs. 0.65 from Rs. 0.04. 

Written by Manideep Appana

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