Search: #MaxPower
En #MAXPOWER logrรฉ entrevistar a Andy DeMatos, jefe de marketing para la empresa @Astrolab_Space๐
Fundada en 2019 en Hawthorne, California, construye los rovers que podrรญan llevar astronautas por la Luna:
FLEX, FLIP y CLV 1, elegidos por la NASA para Moon Base con un contrato de $219 millones de dรณlares.
#MAXPOWER #NASA @NASA_es @FronteraSpacial
Macpower Management
I am increasing our guidance for this year growth to nearly 35% from earlier 30%
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๐ ๐ค๐ฎ / ๐๐ญ ๐๐ฌ๐ฎ๐ณ | ๐ญ๐ฌ ๐๐ข๐ ๐ฃ๐๐ก๐๐๐ฆ ๐ช๐ข๐ฅ๐ง๐ ๐ช๐๐ง๐๐๐๐ก๐! ๐
Strong numbers don't always translate into strong stock returns!
๐ ๐๐๐ฌ ๐๐ข๐ก๐๐๐๐ ๐๐ก๐ฆ๐๐๐๐ง๐ฆ:
โข Acutaas Chemicals โ EBITDA growth +84.6%
โข Menon Bearings โ EBITDA growth +101%
โข Supreme Power โ Revenue growth +80%
โข Macpower CNC โ Revenue growth +40.4%
โข Credent Connect โ Revenue growth +53.4%
๐ Major themes:
โ๏ธ FY27 guidance upgrades
โ๏ธ Capacity expansion
โ๏ธ Growing order books
โ๏ธ New product commercialisation
โ๏ธ Operating leverage
๐ก **Look beyond quarterly numbers. Management commentary can reveal the next 2โ4 quarters of growth potential.**
Which company deserves a deeper analysis?
#Q2Results #ConcallAnalysis #GrowthStocks #ChartGuruji
โ ๏ธ Educational purposes only. Not a buy/sell recommendation.
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Macpower CNC Q2 FY27: Two Guidances on One Call, a Ferrari Left in the Garage, and โน120 Crore of Machines
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While you were walking on the shuttle landing facility at the #maxpower air show. Did you notice the visual aiming markers to indicate the Space Shuttle target touchdown zone?
This was a bit of a moment for me when I realized it. #NASA #spaceshuttle
Conclusion:
โ
Q2 revenue โน120.33 Cr (+40.4% YoY) with PAT +43.7%
โ
Order book โน476 Cr (+36% YoY) with strong pipeline
โ
Raised FY27 guidance to ~35% growth
โ
New capacity on track for Q2 FY28
โ
Clear long-term 25โ30% growth visibility
โ
Targeting 10% market share in 3โ4 yearsโ ๏ธ Near full capacity utilization
โ ๏ธ New capacity only from Q2 FY28
โ ๏ธ Margin expansion dependent on scale and backward integration
โ ๏ธ 5-axis remains niche focus for now
Macpower continues to deliver strong growth with improving profitability and a clear capacity expansion roadmap. Execution on new capacity and sustained order inflow will be key for the next phase of growth.
Disclaimer: This is for educational purposes only. Not a buy/sell recommendation or investment advice. Do your own due diligence. Past performance is not indicative of future results.
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๐ Macpower CNC Machines Ltd: Q2 revenue โน120.33 Cr (+40.4% YoY) + EBITDA margin 16.6% + PAT โน13.47 Cr (+43.7% YoY). Highest ever quarterly performance.
Strong order book + capacity expansion or utilization & execution risk near full capacity? Breaking down Q2 FY27 update ๐
A detailed thread ๐งต
CMP: โน2,295 | Market Cap: โน2,296 Cr | PE: 54x
High-#RSstocks can reverse sharply.TBZ
AHCLHealthcare
RATNAVEER
RAYMOND
SSWL
WHEELS
SBCTextiles
INDSWFTLAB
GCSLTFCILTD
RPEL
BLISSGVS
CUPID
SHREEJI
MENONBESIGMAADV
SKYGOLD
STLTECHStocks
LAURUSLABS (Healthcare)
ATHERENERG (Auto / EV)
MACPOWER (Capital Goods)
IOLCP (Healthcare)
Sector tilt: Capital Goods, Healthcare, and Auto Components dominate the highest RS names.
-- 4 --
8. Financial performance was demonstrating strong growth.
9. Management was revising its growth commentary as the business progressed.
INDIVIDUALLY, THESE POINTS MAY LOOK LIKE ORDINARY BUSINESS UPDATES.
BUT WHEN YOU CONNECT THEM, THEY HELP YOU UNDERSTAND THE EVOLUTION OF A BUSINESS.
THIS IS THE DIFFERENCE BETWEEN READING RESULTS AND STUDYING A COMPANY.
โโโโโโโโโโโโโโโโโโโ
๐๐๐๐ ๐๐ - ๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐?
Let me give you the framework.
Whenever you study a company, ask yourself:
โ BUSINESS UNDERSTANDING
What does the company actually manufacture?
What is difficult to replicate?
What is its competitive positioning?
โก INDUSTRY OPPORTUNITY
Is the industry expanding?
Which segments are growing faster?
Where can the company capture incremental opportunities?
โข MANAGEMENT QUALITY
Does management communicate clearly?
Does it execute its commitments?
Does capital allocation make sense?
โฃ GROWTH VISIBILITY
What is driving revenue growth?
Is the order book expanding?
Is the product mix improving?
โค MARGIN VISIBILITY
Can the company maintain or improve margins?
Are higher-value products contributing meaningfully?
โฅ CAPACITY AND EXECUTION
Can the company fulfil its growing orders?
Is expansion happening on time?
Are working capital and cash flows supporting growth?
โฆ THESIS VALIDATION
Every quarter, revisit your original assumptions.
What has improved?
What has deteriorated?
What has changed?
And most importantly:
WHAT WOULD MAKE YOU CHANGE YOUR MIND?
Because real conviction also means having the courage to exit when the original thesis breaks.
โโโโโโโโโโโโโโโโโโโ
๐๐๐ ๐
๐๐๐๐ ๐๐๐๐๐๐๐ ๐
๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐.
MACPOWER is not a story about a stock moving from โน275 to โน2,300+.
It is a story about what happens when you spend years understanding a business instead of spending your time predicting its next price movement.
We shared our study multiple times across 2023, 2024, 2025 and 2026.
We kept revisiting the company.
We kept updating our understanding.
We kept reading co commentary , studying financial performance, analysing order books, following product developments and questioning management commentary.
And this is something we want every serious investor to understand:
CONVICTION IS NOT DEVELOPED IN A SINGLE DAY. IT IS BUILT ONE PIECE OF INFORMATION AT A TIME.
The market may take time to recognise a business.
But your job is not to convince the market.
Your job is to understand the business well enough to know WHY you own it, WHAT you expect from it and WHEN your thesis is no longer valid.
MACPOWER is one example of this approach.
Not every company will deliver similar outcomes.
Not every thesis will work.
And no amount of research eliminates investment risk.
But a disciplined research process can help you make better-informed decisions.
DON'T JUST LOOK FOR MULTIBAGGERS. LEARN HOW TO IDENTIFY BUSINESS TRANSFORMATIONS BEFORE THEY BECOME OBVIOUS.
That's what we are trying to build at SHARE PURANA.
WE DON'T SELL DREAMS.
WE SHARE STUDIES.
WE BUILD CONVICTION THROUGH RESEARCH.
- SHARE PURANA (เคถเฅเคฏเคฐ เคชเฅเคฐเคพเคฃ)
DISCLAIMER = THIS IS NOT A BUY OR SELL RECOMMENDATION. SHARING ONLY FOR STUDY PURPOSES.
#MACPOWER #CONVICTION #SHAREPURANA
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๐๐๐๐ ๐ - ๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐
Another development that deserves attention.
In November 2025, management discussed its participation in the EMO exhibition in Germany.
The company showcased its machines, sold some machines in the European market and received orders from new foreign dealers.
But there was something else.
Management disclosed discussions with more than a dozen international companies across Europe, Japan, Korea and Taiwan regarding technology transfer and collaboration.
Five companies were shortlisted.
NDAs had been signed with three of them, and delegations from two companies had visited Macpower.
The areas of interest included:
โข Medical.
โข Semiconductor.
โข EMS.
โข Die and mould.
โข Electronic parts manufacturing.
Now, understand the significance of this development.
A domestic CNC manufacturer exploring international technology partnerships and import-substitution opportunities could potentially expand its addressable market and product capabilities.
But discussions, NDAs and collaborations are not the same as commercial execution.
We need to track what actually materialises.
And that is why we keep reading management commentary rather than simply celebrating announcements.
โโโโโโโโโโโโโโโโโโโโ
๐๐๐๐ ๐ - ๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐
Now let's examine the financial performance.
FY26:
Revenue: โน333.18 crore.
Growth: 27.26%.
EBITDA: โน53.90 crore.
Growth: 29.74%.
PAT: โน33.87 crore.
Growth: 33.13%.
Then came FY27.
Q1 FY27:
Revenue: โน95.24 crore.
YoY growth: 56.1%.
EBITDA: โน15.43 crore.
YoY growth: 95%.
PAT: โน9.58 crore.
YoY growth: 110%.
Q2 FY27:
Revenue: โน120.33 crore.
YoY growth: 40.4%.
EBITDA: โน19.94 crore.
YoY growth: 40.8%.
PAT: โน13.47 crore.
YoY growth: 43.7%.
H1 FY27:
Revenue: โน215.56 crore.
YoY growth: 46.9%.
EBITDA: โน35.36 crore.
YoY growth: 60.2%.
PAT: โน23.06 crore.
YoY growth: 65.5%.
Look at the relationship between revenue, EBITDA and PAT.
The company wasn't just reporting higher sales.
Profit growth was also outpacing revenue growth during H1 FY27.
That is an important operating performance indicator.
Of course, we must continue monitoring margins, cash flows, working capital, capital expenditure and return ratios to understand the quality and sustainability of this growth.
โโโโโโโโโโโโโโโโโโโ
๐๐๐๐ ๐ - ๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐: ๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐
This is another area where continuous tracking matters.
In July 2026, management increased its growth outlook to more than 30%, after previously discussing 28โ30%.
In October 2026, following the Q2 performance, management indicated that it was increasing its full-year growth guidance to nearly 35%.
Why is this important?
Because conviction is not built by listening to management once.
You listen.
You record the commitment.
You track execution.
You revisit the commentary.
And you evaluate whether the company is delivering what it communicated.
This is how an investor builds an informed understanding of management's execution.
โโโโโโโโโโโโโโโโโโโ
๐๐๐๐ ๐ - ๐๐๐๐ ๐๐๐ ๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐?
Now comes the most important part of this entire study.
What exactly should an investor learn from MACPOWER?
The edge wasn't simply identifying a company in a growing industry.
The edge was connecting multiple independent developments into one coherent business thesis.
1. Product portfolio was moving towards higher-value offerings.
2. Average machine realisation was showing improvement.
3. NEXA was contributing meaningfully to the order book.
4. Order-book visibility was expanding.
5. Management was discussing capacity expansion before the new facility became operational.
6. R&D was introducing new products.
7. International partnerships and export opportunities were being explored.
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๐จ -- 2 --
๐๐๐๐๐๐๐๐ ๐๐๐: ๐ ๐๐๐๐๐-๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐.
๐๐๐๐ ๐ - ๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐
One of the most important indicators we kept watching.
Look at the management commentary.
NOVEMBER 2025:
Average machine realisation increased to approximately โน20.19 lakh versus โน18.48 lakh in the corresponding previous-year period.
FEBRUARY 2026:
Management discussed average machine pricing approaching โน20 lakh, compared with โน18.28 lakh previously.
OCTOBER 2026:
Average machine realisation stood at โน20.36 lakh.
The average value of machines in the six-month order book was approximately โน20.55 lakh.
Why do we track this?
Because revenue growth can come from multiple sources:
1. Selling more machines.
2. Selling higher-value machines.
3. Improving product mix.
Understanding the combination is essential.
We don't want to study revenue in isolation.
We want to understand the underlying business drivers.
โโโโโโโโโโโโโโโโโโโ
๐๐๐๐ ๐ - ๐๐๐ ๐๐๐๐๐ ๐๐๐๐: ๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐
Now look at the progression of the pending order book.
NOVEMBER 2025:
โน350 CRORE
FEBRUARY 2026:
โน375 CRORE
MAY 2026:
โน406 CRORE
JULY 2026:
โน456 CRORE
OCTOBER 2026:
โน476 CRORE
<PRIVATE_PERSON>
Read that progression again.
โน350 CRORE โ โน476 CRORE.
And the NEXA contribution remained close to 40% in the later disclosures.
But here's another important detail.
In October 2026, management also disclosed:
Domestic bids submitted: โน745 crore.
Government tender bids: โน194 crore.
Total bids in the pipeline: โน939 crore.
PLEASE UNDERSTAND THE DIFFERENCE.
An order book represents pending orders.
Bids and quotations represent business opportunities, not confirmed orders.
We never treat the entire pipeline as guaranteed revenue.
However, tracking these indicators helps us understand the company's demand environment and potential future opportunities.
This is what continuous research looks like.
โโโโโโโโโโโโโโโโโโโ
๐๐๐๐ ๐ - ๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐: ๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐
One of the biggest questions in a growing manufacturing business is:
CAN THE COMPANY ACTUALLY DELIVER WHAT IT IS BOOKING?
In November 2025, management announced that production capacity had increased from 2,000 to 2,500 machines.
In February 2026, management discussed taking 10,000 square feet of additional industrial space on a rental basis.
It also discussed exploring another 50,000โ100,000 square feet to support manufacturing processes.
Why?
Because management did not want capacity constraints to interrupt the growth journey while waiting for the new facility.
Then came the next development.
MAY 2026:
Management discussed a 13-acre land expansion, with an estimated investment of โน30โ35 crore at that stage.
JULY 2026:
The company discussed a 13-acre long-term registered lease, comprising 9+4 acres.
The planned assembly facility was expected to have approximately 1.5โ2 lakh square feet of shop floor.
Estimated investment: โน50 crore.
The company also discussed potential benefits under the Viksit Gujarat New Industrial Policy 2026, including a 25% capital subsidy and 7% interest subsidy.
OCTOBER 2026:
Management confirmed that construction of the new capacity had started.
The facility was expected to become operational by the end of Q2 FY28.
Management indicated that this facility could support approximately 25โ30% growth over the upcoming 3โ4 years.
THIS IS AN IMPORTANT DEVELOPMENT.
We were not simply tracking the company's growth rate.
We were tracking how management intended to build the infrastructure required to support that growth.
โโโโโโโโโโโโโโโโโโโ
#macpower
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๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐
๐๐๐๐๐๐๐๐๐๐. โ๏ธ
๐จ ๐๐๐ ๐๐๐๐๐ ๐๐๐ ๐๐ โน๐๐๐. ๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐ ๐๐๐ ๐๐๐๐.
๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐.
โน๐,๐๐๐+ ๐๐๐๐๐, ๐๐๐๐'๐ ๐๐๐๐ ๐๐ ๐๐๐- ๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐ ๐๐ ๐ ๐๐๐.
๐๐๐๐๐๐๐๐ ๐๐๐: ๐ ๐๐๐๐๐-๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐RNEY.
But before that, let's answer a question.
โโโโโโโโโโโโโโโโโโโ
๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐๐?
You have heard SHARE PURANA talk about conviction countless times.
But how do you actually develop it?
Is conviction simply buying a stock, holding it for years and waiting for the price to appreciate?
NO.
Is it believing that a company will become big just because its industry has a bright future?
NO.
CONVICTION IS THE ABILITY TO UNDERSTAND A BUSINESS, IDENTIFY ITS FUTURE POSSIBILITIES, RECOGNISE THE EARLY SIGNS OF EXECUTION AND CONTINUOUSLY TEST YOUR ORIGINAL THESIS AGAINST NEW INFORMATION.
It is not blind faith.
It is informed belief backed by continuous research.
And MACPOWER CNC is an extraordinary case study to understand this process.
โโโโโโโโโโโโโโโโโโ
๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐ โน๐๐๐.
Our study was shared around โน275.
Today, MACPOWER is trading above โน2,300.
But the interesting part isn't the price movement.
The interesting part is that we continued sharing our study in 2023, 2024, 2025 and 2026.
Every time the market thought the story was over, new developments forced investors to revisit the business.
People kept looking at the stock price.
We kept studying the business.
And that's where the difference lies.
Let's understand the journey.
โโโโโโโโโโโโโโโโโโ
๐๐๐๐ ๐ - ๐๐๐ ๐
๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐๐๐
MACPOWER is not simply a company selling conventional CNC machines.
The bigger opportunity was to understand how the business could evolve through:
โ Higher-end machine offerings.
โ Increasing average machine realisation.
โ Better product mix.
โ R&D and product innovation.
โ Defence and aerospace opportunities.
โ Export market development.
โ Technology partnerships.
โ Manufacturing capacity expansion.
Why does this matter?
Because revenue growth alone doesn't tell you the complete story of a manufacturing business.
You need to understand WHAT the company is selling, WHO it is selling to, HOW MUCH value it is capturing per machine and WHETHER its manufacturing infrastructure can support the next phase of growth.
This is where we started looking beyond the headline numbers.
โโโโโโโโโโโโโโโโโโโ
๐๐๐๐ ๐ - ๐๐๐ ๐๐๐๐ ๐๐๐๐๐: ๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐
One of the most interesting developments was the company's increasing focus on its NEXA product portfolio.
Look at the progression.
FEBRUARY 2026:
Management disclosed that NEXA contributed approximately 39% of the pending order book.
MAY 2026:
NEXA continued contributing approximately 40% of the pending order book.
OCTOBER 2026:
The contribution remained approximately 40%.
Think about this.
This wasn't merely about selling more machines.
The company was building a meaningful presence in its higher-end product portfolio.
Management also discussed new products such as:
โข DCM 4222 double-column machines.
โข Turn-Mill Centre with Y-axis.
โข GX 100 Super.
โข DCM 5-metre series.
โข V500G.
โข VTX 1200.
Why were we interested in this development?
Because product capability and product mix can influence the economics of a manufacturing business.
Higher-value machines can potentially improve realisations, but the real test remains successful execution, demand and profitability.
That is precisely why this development deserved continuous monitoring.
โโโโโโโโโโโโโโโโโโโ
DISCLAIMER = THIS IS NOT A BUY OR SELL RECOMMENDATION.
#macpower
ITS 4.58AMโฐ๏ธ
AND I AM REVISITING THE STORY OF ONE OF MY STRONGEST CONVICTIONS โฐ๏ธ
MACPOWER CNC
Study shared @275 now 1182 ๐ฅ ๐ฅ ๐ฅ ๐ฅ
xitter.twitterapi.xyz/i/status/2056112583300โฆ
What makes me still hold conviction after a 4x move from โน275?
[PROUD PART OF OUR 100% CLUB]
Most investors think the story is over because stock moved.
I think business is still in the early innings.
Let's go deeper.
When we first studied #Macpower, it was not a "machine manufacturer".
It was a capacity-constrained company operating in a massive opportunity.
That distinction matters.
India today consumes nearly โน35,000 Cr worth of machine tools annually while domestic production is only around โน16,000 Cr.
The industry is expected to reach โน54,000 Cr consumption by 2030. Macpower's market share is still tiny.
The opportunity was never problem.
Capacity was.
For years,mngmt kept repeating the same thing:
"We have demand. We need capacity." AND SHARE PURANA VOUCH ON THIS
Today evidence is visible.
FY26 Revenue: โน333 Cr
FY26 EBITDA: โน54 Cr
FY26 PAT: โน34 Cr
Highest ever revenue.
Highest ever EBITDA.
Highest ever PAT in company history.
But numbers alone don't explain my conviction.
The real story is what is happening underneath.
Order book has crossed โน406 Cr.
Bids under evaluation are more than โน1000 Cr.
Management is guiding 28-30% growth again despite already delivering 27% revenue growth in FY26.
Most importantly,
The company is moving up the value chain. (IMPORTANT)
NEXA machines now contribute around 40% of the order book. These are higher-end machines with better realizations and better margins.
This is where many investors miss the plot BUT NOT @SharePurana
Macpower is not merely selling more machines.
It is selling better machines.
Average realization has moved close to โน20 lakh per machine and management is aggressively targeting premium categories, defence, aerospace and large corporate customers.
Look at the customer list being added:
#BHEL
#HAL
#OrdnanceFactory
#Polycab
#Kirloskar
#GNA Gears
#BhagatForge
These are not random MSME customers.
These are reference customers.
And reference customers create next decade of orders.
Another reason for conviction:
Mngmt is not behaving like a company satisfied with โน300 Cr revenue. (MNGMT KI GROWTH KI BHUK STILL INTACT)
They are preparing for a much larger scale.
New 13-acre facility.
โน30-35 Cr expansion plan.
Additional land discussions.
Multiple new branches.
New technology centres.
Aggressive hiring.
Aggressive marketing.
Why would management spend like this if they don't see demand visibility?
Because they are seeing something market still underestimates.
The Indian machine tools cycle.
Every #defence factory.
Every #aerospace component supplier.
Every #auto ancillary.
Every #EMS player.
Every #manufacturing plant.
Needs machine tools.
And India is pushing manufacturing harder than ever before.
The biggest reason I still track Macpower closely is this:
The company currently has only a tiny share of a rapidly expanding market.
If a company already owns 25% market share, growth becomes difficult.
Macpower owns only a small fraction.
Which means growth can continue for much longer if execution remains strong.
Risks still exist.
Execution risk.
Capacity expansion risk.
Competition from larger players.
Management's ambitious targets.
But great stock market winners rarely look cheap after they become obvious.
NOW YOU SEE MANY PEOPLE SHARING THIS STORY BUT WE CATCH IT EARLIER. เคฌเคนเฅเคค เคชเคนเคฒเฅ
They look expensive while the next phase is still being built.
At โน275,market saw a small machine tool company.
At โน1183, I see a company attempting to become one of India's serious CNC manufacturing players during a once-in-a-decade manufacturing capex cycle.
The stock gave 4x.
If you want safety, you cant get it here.
The business may still be far from its destination.
I HOPE, I AM ADDING VALUE IN UR LIFE.
DISCLAIMER = THIS IS NOT A BUY OR SELL RECOMMENDATION.
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I forgot I took this when I was at #maxpower.
Yes this is my car
Just like @Erdayastronaut says
#teamspace
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Jyoti CNC: consolidating on the right side, close to the highs.
Both the CNC players, Jyoti CNC and Macpower, showed strong strength after the earnings.
The catalyst: record dispatches in Q2, standalone sales up 31% and profit up 46%, and an order book of about โน5,082 Cr. Management guides 25โ30% revenue growth this year, and defence and aerospace is about 36% of the order book.
Not a buy/sell recommendation.
#TechnoFunda
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Kyro Sectoral Lens | CNC Machines | Q2 FY27
CNC demand is strong. The harder part is turning orders into profitable deliveries.
Jyoti CNC and Macpower both reported strong domestic execution. But their results also show why order books, capacity and earnings cannot be read interchangeably.
1. Jyotiโs domestic strength is not the consolidated result
Standalone Q2 revenue rose 31% to โน588cr, EBITDA rose 48% to โน164cr and PAT rose 46% to โน115cr. EBITDA margin reached 27.9%.
Consolidated revenue, however, rose 19% to โน602cr, while PAT fell 15% to โน73cr. Consolidated EBITDA margin was 21.8%, down from 24.5%.
A strong Indian operation and a weak group-level quarter can coexist.
Its โน5,082cr closing order book was supported by โน809cr of fresh orders versus โน575cr executed. Auto represented half of Q2 order intake, while aerospace and defence accounted for 36% of the closing backlog. Fresh demand and the backlog have different mixes.
2. The call explains the gap
Jyoti dispatched approximately 1,900 machines, a quarterly record. Management retained its roughly 8,000-machine FY27 target and 25โ30% combined revenue-growth outlook, alongside approximately 25% consolidated EBITDA-margin guidance.
Huron is the key qualification. Management expects delayed revenue recognition to catch up in H2, while French dual-use licensing approvals are taking longer. It described the separate investigation as status quo, not resolved.
Controller lead times have also lengthened. Inventory planning has supported deliveries, but supply remains a constraint.
Our read: H2 needs both higher dispatches and Huron conversion. Domestic growth alone does not settle the groupโs execution risk.
3. Macpowerโs growth is visible, but not mainly through margin expansion
Revenue rose 40.4% to โน120.33cr, EBITDA 40.8% to โน19.94cr and PAT 43.7% to โน13.47cr. EBITDA margin was 16.6%, almost unchanged YoY.
The core story is higher sales flowing through a broadly stable margin, rather than a dramatic profitability reset.
The current highlights show a โน476.7cr order book, with NEXA at 40% by value. โน939.3cr of submitted bids are a separate pipeline, not booked orders.
Its planned 13-acre expansion carries an estimated โน50cr investment, with internal accruals and debt as funding sources. Current-year revenue-growth guidance is approximately 35%.
4. The next improvement has two different clocks
Macpower says price increases should start showing in Q3 as older orders clear. The new facility is targeted for Q2 FY28.
Those are different levers: pricing can improve near-term economics; additional capacity takes longer.
Rupesh Mehtaโs most useful line was: โyour capacity will not increase by just putting money in it.โ
The call emphasised supply chains, lead times, manpower and operating costs. Management also prioritised the 13-acre site before the larger 60-acre plan.
Our read: expansion should be judged by delivery capacity and returns, not merely by land area or announced investment.
Kyro Read
The shared opportunity is deeper Indian manufacturing. The company-specific tests differ:
โข Jyoti: controller availability, Huron approvals and H2 conversion, and consolidated margin recovery.
โข Macpower: Q3 pricing benefit, throughput before the new plant, Q2 FY28 commissioning and cash generation.
โข Both: fresh orders versus execution, receivables and inventory, not just backlog size.
A higher-value machine mix can help. But a company can also improve earnings by delivering more standard machines efficiently. Average selling price is one indicator, not the entire business model.
Disc: Not a recommendation
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STOCKS TRADING NEAR ALL-TIME HIGHS! ๐
50 Stocks to Keep on Your Watchlist ๐
1. Multi Commodity Exchange
2. Anand Rathi Wealth
3. Marico
4. NSE
5. Glenmark Pharmaceuticals
6. Billionbrains
7. Shukra Pharmaceuticals
8. Bonfiglioli Transmissions
9. LG Electronics
10. Anthem Biosciences
11. Raghav Productivity Enhancers
12. Macpower CNC
13. Shreeji Shipping Global
14. Krishana Phoschem
15. EAAA India
16. Modi's Navnirman
17. Radico Khaitan
18. Kwality Pharmaceuticals
19. Coforge
20. Tech Mahindra
21. Divi's Laboratories
22. Navin Fluorine International
23. Titan Company
24. Resonance Specialties
25. Arham Technologies
26. UNO Minda
27. Sai Life Sciences
28. M B Agro Products
29. Garware Hi-Tech Films
30. Laurus Labs
31. TVS Motor
32. Ipca Laboratories
33. SBC Exports
34. Gretex Corporate Services
35. Knowledge Marine
36. Sona BLW Precision Forgings
37. Adani Ports
38. Sansera Engineering
39. Manaksia Steels
40. Dr. Reddy's Laboratories
41. Shyam Metalics
42. Aurobindo Pharma
43. Motilal Oswal Financial Services
44. Phoenix Mills
45. Amanta Healthcare
46. Asahi India Glass
47. Tourism Finance Corporation
48. JSW Steel
49. Entero Healthcare Solutions
50. SG Mart
๐ Near All-Time Highs โ Overvalued.
Sometimes, it reflects strong business momentum, improving earnings, institutional interest and confidence in future growth.
Always evaluate valuations and fundamentals before making investment decisions.
No buy/sell recommendation. DYOR.
Join our Telegram- t.me/thewealthgeniuscommunitโฆ
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Precision engineering mapped, from MIDHANI to Jyoti CNC and Macpower.
Indiaโs machine-tool imports grew 22% in FY25, three times as fast as its own production (7%).
The gap is widening despite the push to make at home.
Thematic Report - cofacto.ai/explore/themes/prโฆ
FY27 guidance upgrades are coming from several Indian companies ๐
A few names worth tracking closely
Industrial, Defence & Manufacturing
HFCL
TD Power Systems
Macpower CNC
Neogen Chemicals
SJS Enterprises
Fujiyama Power
Infrastructure & Logistics
Adani Ports
Knowledge Marine
Shadowfax
Consumer & Hospitality
Indian Hotels
Cupid
Senco Gold
PNG Jewellers
Radico Khaitan
Marico
Godrej Consumer Products
Dabur
Financial Services
Bajaj Finance
Muthoot Microfin
SG Finserve
Karur Vysya Bank
Indian Bank
Punjab National Bank
Angel One
Technology & Healthcare
Aditya Infotech
Mphasis
IGIL
Kwality Pharmaceuticals
Others
Smartworks
But here is what interests me more than the guidance upgrades
Can these companies convert higher revenue into faster EBITDA and PAT growth?
Look for capacity utilisation, margin expansion, operating leverage, order execution and operating cash flow
A guidance upgrade creates an opportunity to investigate
An earnings J curve creates the real wealth creation opportunity ๐ก
Here I was, in my natural habitat. Observing the press conference, and raising my hand endlessly so @GeorgeAlderman_ can call on my question :)
#nasa #maxpower #moonbase #nasasocial #spaceflight
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