JASH ENGINEERING LIMITED – Investor Presentation Summary

Key Operational Highlights

  • Q4 FY26 total income stood at ₹299.57 Crores compared to Q4 FY25 total income of ₹303.42 Crores.
  • FY26 total consolidated income stood at ₹756.68 Crores, a marginal increase over FY25 total income of ₹745.56 Crores.
  • US subsidiary revenue declined from $34.3 Million in FY25 to $30.1 Million in FY26.
  • Domestic income grew by 18% in FY26, compensating for decline in global operations.

Key drivers of operational performance:

Improvement in gross profit margins drove Q4 profitability. External headwinds included US tariff impacts, geopolitical disruptions in Middle East affecting March export shipments, and supply chain constraints affecting execution timelines.

Segment-wise Performance

  • Rodney Hunt (US subsidiary): PAT declined 44% YoY to $0.7 Million from $1.3 Million; Total Revenue decreased to $30.1 Million from $34.3 Million.
  • Waterfront Fluid Controls (UK subsidiary): Performance metrics not specifically detailed beyond acquisition activity.

Financial Highlights

Revenue: ₹736.19 Cr (FY26) vs ₹735.19 Cr (FY25)

EBITDA: ₹122.69 Cr (FY26) vs ₹138.00 Cr (FY25)

PAT: ₹75.51 Cr (FY26) vs ₹86.77 Cr (FY25)

EPS: ₹12.01 Basic, ₹11.97 Diluted (FY26) vs ₹13.88 Basic, ₹13.78 Diluted (FY25)

Margins: Gross Margin 57.0% (FY26) vs 55.7% (FY25); EBITDA Margin 16.2% (FY26) vs 18.5% (FY25); PAT Margin 10.0% (FY26) vs 11.6% (FY25)

YoY comparison: Revenue essentially flat (+0.1%), PAT declined 13%

Drivers of financial performance: Improvement in gross profit margins, offset by US subsidiary weakness and export tariff burdens

Comparison to market estimates: Not Specified

Key Risks: Raw material price fluctuations not specified; disclosed risks include US tariff impacts, geopolitical disruptions, supply chain constraints

Geographical Revenue Split

Domestic vs Export/Regional Revenue:

Domestic: Significant 18% growth (specific values not provided)

Export: Impacted by Middle East war affecting March shipments

Regional Breakdown: US operations declined significantly; UK operations expanded through acquisition

Balance Sheet Snapshot

Net Debt/Equity: Not Specified

Reserves: Not Specified

Current Assets/Liabilities: Current Assets ₹617.59 Cr, Current Liabilities ₹302.04 Cr

Working Capital/Leverage Metrics: Not Specified

Financial Health Insights: Strong cash position with Cash and Cash Equivalents of ₹41.99 Cr (up from ₹12.71 Cr in FY25)

Capex & Cash Flow Health

Capital Expenditure: Not Specified

Free Cash Flow: Not Specified

Operating Cash Flow: Not Specified

Net Debt Movement: Not Specified

Investment Rationale: Focus on strategic acquisitions and capacity expansion through new manufacturing facilities

Strategic & R&D Initiatives

Investments in Innovation: Stainless-steel dual leaf gate for drainage applications; SS316 gate for isolation applications; through-flow travelling band screen technology

Expected impact on growth: Not quantified

Strategic Rationale: Expanding into high-growth international markets through acquisitions; enhancing manufacturing capabilities with pan-UK presence

Industry Trends & Business Environment

Macro/Industry Trends: Global water infrastructure development; renewable energy solutions; urban water security initiatives

Impact on Company: Supporting execution of large-scale projects in wastewater treatment, desalination, and hydroelectric power

Management Commentary & Growth Outlook

Strategic Outlook: "With US tariff situation being stable and possibility of the war in middle east coming to an end soon, we are quite optimistic about FY 27 total income as well as profitability"

FY Guidance: Projected total income of ~₹875 Crores for FY27 with profit guidance in the range of 12-13%

Market Share Targets: Not Specified

Risks and Opportunities: US tariff stability, Middle East conflict resolution, order book strength of ₹899 Cr as of May 1, 2026

Additional Updates

  • Acquisition of Penstocks (UK) Limited completed in April 2026, establishing pan-UK presence with combined manufacturing facilities of approximately 3,200 sq. meters
  • Multiple prestigious projects executed including: Tillari Left Bank Canal screw turbines (Maharashtra), Blanchandra Hydroelectric Station (Minnesota), Bangkokhen Water Treatment Plant (Thailand), 400 MLD Desalination Plant (Chennai), 337 MLD Sewage Treatment Plant (Mumbai), and 200 MLD Al Haer Sewage Treatment Plant (Saudi Arabia)