Jyoti CNC Automation Ltd. (JCAL) is one of the world’s leading manufacturers of metal cutting computer numerical control (CNC) machines with the third largest market share in India accounting approximately 10% of the market share in India in Fiscal 2023 and twelfth largest market share globally accounting for 0.4% of the market share globally in calendar year 2022. It is a prominent manufacturer of simultaneous 5-Axis CNC machines in India and supply a diverse portfolios of CNC machines including CNC Turning Centers, CNC Turn Mill Centers, CNC Vertical Machining Centers (VMCs) and CNC Horizontal Machining Centers (HMCs). The company relies on its expertise built over 2 decades of presence and strong R&D capabilities to deliver customized solutions to customers across diverse set of industries including aerospace and defence, auto and auto components, general engineering, EMS, dies and moulds, and others.

The Company offers over 200 variants across 44 series and during the last 6 months’ period ended September 30, 2023, and during the last 3 Fiscals, the Company has supplied over 8,400 CNC machines to more than 3,500 customers in India and across Asia (excluding India), Europe, North America and rest of the world. Since April 1, 2004, it has supplied over 30,000 CNC machines globally. During the last 6 months’ period ended September 30, 2023, and during the last 3 Fiscals it has sold products in India and 16 other countries across the globe through its principal offices in India, France, Germany, Turkey and Canada. It operates out of 3 manufacturing facilities, 2 in Rajkot, Gujarat, (Indian Manufacturing Facilities) and 1 in Strasbourg, France, which are equipped with capabilities to design, develop and manufacture its product portfolio.

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*Market cap @upper band of Rs.331/-

• The Company is one of the leading CNC machine manufacturing companies globally as well as in India with presence across the CNC metal cutting machinery value chain.
• It has well diversified global customer base spread across end-user industries.3.Focus on technology and ability to deliver innovative solutions bolstered by dedicated R&D facilities.
• It has vertically integrated operations which enables customization and production efficiencies.
• It has experienced Promoters supported by a strong management and execution team.

• Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company;
• Funding long-term working capital requirements of the company; and
• General corporate purposes.

At the upper band of Rs. 331, the IPO is valued at 324 times based on its FY23 earnings, which is steeply overvalued. Hence, only well-informed cash surplus investors may park funds for the long term.