Target: ₹636
CMP: ₹561.90
Jash Engineering is a global engineering company specialising in water and wastewater equipment such as water control gates (62 per cent of revenue), screening systems (about 16.5 per cent) and valves (about 13.5 per cent). Over 55 per cent of revenue comes from exports, with strong presence across the US (36 per cent), Europe and Asia, serving large infrastructure and utility projects worldwide.
Jash Engineering’s FY26 performance was muted, with revenue flat year on year at about ₹736 crore and EBITDA margin at about 14 per cent. PAT declined about 13 per cent to about ₹76 crore, impacted by tariff volatility in the US and disruptions in West Asia.
The company has guided FY27 revenue at about ₹875 crore. EBITDA margin is expected at 15-16 per cent and PAT margin at 12-13 per cent, supported by better execution, export recovery and stable tariffs. It is expanding capacity across key geographies, with new manufacturing facilities planned in Houston (the US) and Saudi Arabia by December 2027. The company is also strengthening operations in India and the UK through ongoing capex and acquisitions. These expansions are expected to increase total capacity and support its medium-term revenue target of about ₹1,500 crore by FY30.
Jash Engineering trades at about 26x FY27E P/E, supported by strong execution visibility and margin recovery. The outlook remains positive, driven by a robust order-book (about ₹899 crore), improving export environment and capacity expansion.