Q1 2027 Jash Engineering Ltd Earnings Call Transcript
Key Points
- Revenue grew 17% year-over-year to ₹156 crore, with PAT turning positive from -₹5 crore to +₹5 crore.
- Commissioned foundry and gate/valve manufacturing expansions, increasing capacity by up to 30%.
- Order book stands at ₹932 crore, with ₹639 crore from outside India, supporting the ₹875 crore revenue target.
- Gross profit and EBITDA margins improved, with standalone Jash Engineering PAT margin near 13%.
- New data center pressure vessel opportunity, with first order for 4 vessels and negotiations for 32 more, potentially a ₹25-30 crore business.
- US tariff refund of ₹5.6 crore received, with ₹7.5 crore more expected this fiscal year.
- Rodney Hunt expected to achieve $35-36 million revenue and profitability this year.
- Saudi Arabia plant permissions received, land application in progress; US plant land acquired, contractor finalization pending.
- UK team expanded from 9 to 24-27 people, targeting 300% growth in 3-4 years.
- Vortex grit separator technology from WesTech is gaining orders (12 units), expanding product basket.
- Qatar shipments stuck for over 3 months due to Gulf crisis, and Middle East orders delayed due to shipping issues.
- Singapore consignment withheld due to payment issues with a specific client, impacting revenue.
- JAS Process Equipment (WesTech) lost ₹150-200 crore worth of orders in last 3-4 months due to costing and marketing issues.
- US tariff uncertainty, with potential 100% tariff on countries buying Russian oil, could disrupt business.
- Management is cautious about aggressively bidding for US orders due to tariff volatility, slowing order finalization.
- Data center pressure vessel capacity is limited (75-80 vessels/year), and scaling up would require new plant investment.
- Saudi Arabia plant not expected to be operational until March 2028, delaying growth in that region.
- Mahr Maschinenbau order book of ₹31 crore is low, and revenue target of ₹15 crore is conservative.
- Chennai plant ramp-up still in progress, with new production head just appointed.
- Geopolitical risks (Gulf conflict, Houthi attacks) continue to disrupt supply chains and shipping.
Good afternoon, everyone. I am Siddhesh Shawan from Ernst & Young, and I would like to welcome you to the Jash Engineering Q1 FY27 earnings conference call. (Event Instructions) Please note that this conference is being recorded. The recording will be made available on the website within a day, and the transcript of the call shall be made available subsequently.
To take us through the results and answer your question today, we have the Top Management of Jash Engineering Limited, represented by Mr. Pratik Patel, Chairman and Managing Director; Mr. Dharmendra Jain, Chief Financial Officer.
Now, I would like to draw your attention to the safe harbor related to today's earnings call. Comments made during the call may contain forward-looking statements that may involve known or unknown risks, uncertainties and other factors. It must be viewed in conjunction with our business risks that could cause future result performance or achievements to differ significantly from what it is expressed or implied by such forward-looking
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