Event Type: Q1 FY27 Earnings Conference Call with Investors

Event Date and Time: Wednesday, 12th August, 2026 (time zone not specified)

Purpose of Event: Discussion of quarterly results for Q1 FY27, including financial performance, order book status, capacity expansion updates, and strategic outlook.

Management Participants:

  • Mr. Pratik Patel – Chairman & Managing Director
  • Mr. Dharmendra Jain – Chief Financial Officer

Recording Availability: The conference was recorded, and the recording was made available on the company's website within a day. The transcript was made available subsequently.

UPSI Statement: The company included a Safe Harbour statement indicating that comments during the call may contain forward-looking statements involving known and unknown risks and uncertainties.

Financial Period Discussed: Q1 FY27 (quarter ending June 2026)

Key Financial Highlights:

  • Revenue: ₹156 crore (17% YoY growth)
  • PAT: Turned positive at ₹5 crore (from negative ₹5 crore in previous year)
  • Standalone Jash Engineering revenue increased 21% with significant PAT increase
  • Waterfront showed marginal revenue increase but higher profitability
  • Gross profit margin maintained at Q4 levels
  • EBITDA margin improved

Strategic Themes and Forward-Looking Statements:

  • Commissioned foundry expansion and gate/valve manufacturing expansion, increasing capacity by 30%
  • Consolidated order book: ₹932 crore (India: ₹293 crore, International: ₹639 crore)
  • Revenue target for FY27: ₹875 crore (India: ₹320 crore, International: ₹555 crore)
  • Long-term revenue target of ₹1,500 crore by 2031
  • Focus shifting to American and Saudi Arabian markets
  • New data center opportunity with pressure vessel orders (4 vessels confirmed, 32 under negotiation)
  • Pipeline: ₹72 crore negotiated orders, ₹60 crore under negotiation
  • Expected additional ₹72 crore orders in current month

Geopolitical Challenges:

  • Middle East shipments delayed due to Gulf crisis (₹15 crore worth of materials stuck)
  • Singapore payment issues with specific client
  • US tariff uncertainties under Trump administration (current tariff 15.6%)
  • Potential 100% tariff threat on countries importing Russian oil

Subsidiary Performance:

  • Rodney Hunt: Expected revenue $35-36 million with 8-9% PAT margin, targeting 10% by FY28
  • Jash Process Equipment: Facing challenges with costing systems and order losses (~₹150-200 crore)
  • Waterfront: Expected to achieve 5 million+ revenue with significant profit

Expansion Plans:

  • Saudi Arabia: Official permissions received, land application submitted
  • US: Land acquired in Houston, contractor finalization pending
  • Timeline: Saudi plant operational by March 2028, Houston plant by December 2027

Tariff Refunds:

  • Received ₹5.6 crore tariff refund
  • Additional ₹7.5 crore expected in current financial year

Additional Notes Section

Attachments: The document is the complete transcript of the earnings conference call, including management presentation and full Q&A session with analysts.

Financial Data Disclosure: The announcement includes detailed financial figures for Q1 FY27 performance, order book status, and future projections.

Tagging:

Compliance: The document includes the digital signature of Tushar Kharpade, Company Secretary & Compliance officer, dated August 18, 2026.