Jyoti CNC Automation shares plunged 15.5 per cent in trade on BSE, logging an intra-day low at ₹692. At 11:40 AM, Jyoti CNC’s share price was trading 13.59 per cent lower to ₹707.9. In comparison, the BSE Sensex was down 1.26 per cent at 76,574.29.
The selling on the counter came after Jyoti CNC Automation's subsidiary Huron Graffenstaden SAS was investigated by French authorities over alleged violations of European Union export control laws related to machinery considered to be of dual-use — equipment that can be used for both civilian and military purposes, according to the filing.
The investigation, initiated by France's National Directorate of Intelligence and Customs Investigations, has resulted in a set of interim measures against the subsidiary. The director general of Huron Graffenstaden SAS has been temporarily restricted from discharging duties, bank accounts totalling approximately EUR 4 million have been seized, and two residential properties owned by Jyoti SAS are also subject to interim seizure. A formal judicial investigation has been initiated against Huron Graffenstaden SAS and certain of its employees.
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Huron Graffenstaden SAS has received a notice regarding the actions and refuted the allegations, and is currently seeking legal advice while looking to contest the matter. The company said it is also seeking better clarity from the relevant authorities.
Jyoti CNC Automation, in a regulatory filing dated April 11, 2026, said the current business and operations of Huron Graffenstaden SAS remain unaffected for now. The company added that the actions are not expected to have any adverse impact on Jyoti CNC Automation on a standalone basis, which contributed over 85 per cent of the group's revenue from operations.
The Rajkot-based company said it is yet to fully ascertain the potential monetary impact of the actions, beyond the seized assets disclosed above.
Rajkot-based Jyoti CNC Automation, incorporated in 1989, is one of India's largest manufacturers of computer numerical control (CNC) machines. The company's product portfolio spans CNC turning centres, turning mill centres, vertical and horizontal machining centres, five-axis machining centres, and multi-tasking machining centres, along with Industry 4.0 and artificial intelligence solutions.