Jash Engineering Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Jash Engineering Ltd filed with BSE on 18 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Jash Engineering reported Q1 FY27 revenue of Rs.156 crore, up around 17% year on year, with PAT turning positive compared to a loss in the prior year period. Management commissioned foundry expansion and gate and valve manufacturing expansion during the quarter, increasing capacity by up to 30%. The consolidated order book stood at Rs.932 crore, with Rs.293 crore in India and Rs.639 crore outside India, and management reiterated its FY27 revenue target of Rs.875 crore.
Numbers mentioned
Revenue: Rs.156 crore (Q1 FY27)
p. 3
“we reported revenue of Rs.156 crore, which is quite a significant improvement year on year by around 17%”
Pratik Patel, page 3 of the filed PDF · View the filing
Consolidated order book: Rs.932 crore (as of Q1 FY27)
p. 4
“our current order book stands at Rs.932 crore, of which India has Rs.293 crore and outside India the order book is Rs.639”
Pratik Patel, page 4 of the filed PDF · View the filing
Order book - Waterfront: Rs.34 crore (as of Q1 FY27)
p. 4
“in case of Waterfront we have Rs.34 crore order book, in March Rs.31 crore order book at Rodney Hunt Rs.369 crore and in Jash Processing Equipment is Rs.29 crore”
Pratik Patel, page 4 of the filed PDF · View the filing
Order book - Jash Engineering: Rs.559 crore (as of Q1 FY27)
p. 4
“Jash Engineering is Rs.559 crore”
Pratik Patel, page 4 of the filed PDF · View the filing
Tariff refund: Rs.5.6 crore (Q1 FY27)
p. 6
“we have got Rs.5.6 crore as tariff refund”
Pratik Patel, page 6 of the filed PDF · View the filing
US tariff rate: 15.6% (current)
p. 8
“10% special tariff and 5.6% was the existing so 15.6% is the current tariff there”
Pratik Patel, page 8 of the filed PDF · View the filing
Revenue split India vs outside: Rs.70 crore India, Rs.80 crore outside (Q1 FY27)
p. 6
“Out of Rs.150 crore turnover Rs.70 crore is India and Rs.80 crore out of India”
Dharmendra Jain, page 6 of the filed PDF · View the filing
Undispatched Middle East/Singapore orders: Rs.15 crore (Q1 FY27)
p. 14
“Around Rs.15 crore.”
Pratik Patel, page 14 of the filed PDF · View the filing
Rodney Hunt current order book: $40 million (current)
p. 14
“current order book in Rodney Hunt is close to $40 million and that will easily take us through this year and portion of next year”
Pratik Patel, page 14 of the filed PDF · View the filing
Additional pending tariff refund: Rs.7.5 crore
p. 11
“Around Rs.7.5 crore.”
Pratik Patel, page 11 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue — Rs.1500 crores · by 2031
stated as an aspiration by Pratik Patel
p. 4
“we are quite confident that we would be able to achieve our projected revenue target of Rs.1500 crores by 2031”
Pratik Patel, page 4 of the filed PDF · View the filing
Revenue — Rs.875 crore · FY27
stated firmly by Pratik Patel
p. 18
“we would meet our projections given earlier, which is Rs.875 crore with around Rs.100-105 crore profit after tax for the year”
Pratik Patel, page 18 of the filed PDF · View the filing
Waterfront revenue — 5 million plus · this year
stated firmly by Pratik Patel
p. 4
“this year we expect Waterfront to achieve 5 million plus in revenue with a significant profit, and we maintain it would happen”
Pratik Patel, page 4 of the filed PDF · View the filing
Rodney Hunt revenue — in excess of $35-36 million · this year
stated firmly by Pratik Patel
p. 4
“we are quite confident that this year we will achieve our projected revenue in excess of $35-36 million and would be able to show profitability”
Pratik Patel, page 4 of the filed PDF · View the filing
PAT margin — 13-14% · this year
stated conditionally by Pratik Patel
p. 9
“we are in a position to achieve 13-14%, but it depends as we progress in the year”
Pratik Patel, page 9 of the filed PDF · View the filing
Rodney Hunt PAT margin — 10% PAT margin · FY28
stated conditionally by Pratik Patel
p. 7
“I would say yes. If everything goes right, we should be able to do by FY28. But otherwise, let's keep our finger crossed.”
Pratik Patel, page 7 of the filed PDF · View the filing
Saudi Arabia plant commercialization — by March 28
stated conditionally by Pratik Patel
p. 10
“If we get the plant ready by December 27 then by end of the FY28, it should be in operation. By March 28, it should be in operation.”
Pratik Patel, page 10 of the filed PDF · View the filing
Capex — $12 million for America and $4 million for Saudi
stated firmly by Pratik Patel
p. 13
“it is around $12 million for America and $4 million for Saudi”
Pratik Patel, page 13 of the filed PDF · View the filing
FY28 revenue guidance — Rs.1,025 crore · FY28
stated firmly by Pratik Patel
p. 14
“I think Rs.1,025 crore, if I remember well, it is around something like that.”
Pratik Patel, page 14 of the filed PDF · View the filing
Additional tariff refund resolution — this financial year
stated conditionally by Pratik Patel
p. 11
“In this financial year. Just to give you an idea, that calculations and everything is ready and is being vetted by our lawyers.”
Pratik Patel, page 11 of the filed PDF · View the filing
UK revenue — 12 in 3-4 year time · 3-4 years
stated as an aspiration by Pratik Patel
p. 16
“last year we did less than three, and we are talking about 12 in 3-4 year time. This is 3 to 12 is also 300% growth, and we are working towards that.”
Pratik Patel, page 16 of the filed PDF · View the filing
Data center pressure vessel capacity
stated as an aspiration by Pratik Patel
p. 11
“once we are very confident of continuity of that type of orders and business, we may think of going for additional land and looking for setting up a new plant.”
Pratik Patel, page 11 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said region and product-wise data changes drastically quarter to quarter and decided to show only year-on-year comparisons.
Answered by Pratik Patel
Asked by Kunal: Why did the company remove product and region-wise revenue bifurcation from the presentation?
p. 5
“we decided to cut down on all that and show it year to year because it will lead to better comparison and at the same time allow more time for question and answer”
Pratik Patel, page 5 of the filed PDF · View the filing
Management said it was a combination of the tariff refund and manufacturing benefits.
Answered by Pratik Patel
Asked by Kunal: What drove the quarterly margin improvement - tariffs or manufacturing benefits?
p. 6
“Both, if you recall, we had informed that we have got Rs.5.6 crore as tariff refund. So obviously that has also helped, but it is a combination of both.”
Pratik Patel, page 6 of the filed PDF · View the filing
Management said costing systems were different and marketing was not aggressive, leading to lost orders and a review taking two to three quarters.
Answered by Pratik Patel
Asked by Kunal: What concerns exist at Jash Process Equipment?
p. 6
“once we acquire, we evaluate and we found out that their costing systems were little different. Plus, the marketing was not aggressive when we were losing orders”
Pratik Patel, page 6 of the filed PDF · View the filing
Management said margins would likely be similar due to competition at higher volumes.
Answered by Pratik Patel
Asked by Ishwar: Will data center pressure vessel orders command better margins than municipal orders?
p. 7
“No, I don't think so because it is as simple as this, more the volume, more the competition. So, when we are talking of 600 pressure vessels, the type of competition would be intense. The margin profile would be the same.”
Pratik Patel, page 7 of the filed PDF · View the filing
Management said the Qatar issue is due to Gulf War and Red Sea shipping disruption, while Singapore is a specific client payment dispute.
Answered by Pratik Patel
Asked by Sudip Anand: Have the Qatar and Singapore dispatch issues been resolved?
p. 8
“the consignment for Qatar is stuck because of the Gulf War. One month back around, we had an option to send it by Saudi Arabia through Red Sea, but with the recent Houthi attacks on the Red Sea cargo, even that possibility is gone.”
Pratik Patel, page 8 of the filed PDF · View the filing
Management said most current orders are being manufactured in America already, and pricing has been budgeted with some tariff buffer.
Answered by Pratik Patel
Asked by Sanjeev Marwa: How is the company preparing for potential increased US tariffs on Russian oil-related sanctions?
p. 9
“We are all already budgeting and doing it. So, 15.6% is there, we are considering 25%, but we cannot consider 100%. Otherwise, we will be out of the market.”
Pratik Patel, page 9 of the filed PDF · View the filing
Management explained a routine reversal and addition process between quarters resulting in a net positive impact this quarter.
Answered by Dharmendra Jain
Asked by Vedant Rane: Does this quarter's revenue include the Rs.35-36 crore deferred from Q4 that wasn't recognized then?
p. 10
“So Rs.27-28 crore reversal in June, and added last year reversal.”
Dharmendra Jain, page 10 of the filed PDF · View the filing
Management estimated per-vessel pricing and said capacity constraints limit how much of the opportunity can be captured.
Answered by Pratik Patel
Asked by Yogansh: What is the size of the data center pressure vessel opportunity?
p. 11
“one vessel will be between Rs.30-50 lakh depending upon its size, maybe up to Rs.60 lakh”
Pratik Patel, page 11 of the filed PDF · View the filing
Management said only very small new orders have come in, and the company lost a significant amount of business recently.
Answered by Pratik Patel
Asked by Kunal: What is the current order book breakdown for Jash Process Equipment and has any new order booking occurred?
p. 13
“Very small orders. In fact we lost close to Rs.150-200 crore worth of orders in last three four months, which was quite shocking and that is why we are having an entire review of everything at Jash Process.”
Pratik Patel, page 13 of the filed PDF · View the filing
Management said long-term projections are difficult given geopolitical uncertainty and that manufacturing capacity guidance may be revised annually.
Answered by Pratik Patel
Asked by Dilip Sahu: How does the Rs.1500 crore by 2031 target reconcile with ambitions to be a top player in UK and US markets?
p. 15
“projecting five years in advance today is not an easy task, considering what all is happening worldwide”
Pratik Patel, page 15 of the filed PDF · View the filing
Management clarified the Rs.6,000 crore figure was for project reports, not a bid, and actual execution would be spread over 15-20 years.
Answered by Pratik Patel
Asked by Amitabh Patsya: What is the status and scale of the Singapore project bid discussed previously?
p. 16
“That was given for making the project reports, that was not the bid. The budgetary reports and these projects are going to be executed over next 20 years, not in one or two years.”
Pratik Patel, page 16 of the filed PDF · View the filing
Management named specific competitors.
Answered by Pratik Patel
Asked by Kunal: Who are the biggest competitors in the domestic market for industrial process equipment?
p. 18
“Tega, Delkor, Metso Minerals, etc.”
Pratik Patel, page 18 of the filed PDF · View the filing
Risks flagged
Shipping disruption to Qatar due to Gulf War and Red Sea Houthi attacks
p. 8
“the consignment for Qatar is stuck because of the Gulf War. One month back around, we had an option to send it by Saudi Arabia through Red Sea, but with the recent Houthi attacks on the Red Sea cargo, even that possibility is gone.”
Pratik Patel, page 8 of the filed PDF · View the filing
Unresolved payment dispute delaying Singapore shipments
p. 8
“We have not got the old payment, so a large consignment we are not sending.”
Pratik Patel, page 8 of the filed PDF · View the filing
Potential 100% US tariff on countries importing Russian oil
p. 7
“Mr. Trump now if they are talking of putting 100% tariff on countries buying Russian oil, and if that happens again we would be in turmoil.”
Pratik Patel, page 7 of the filed PDF · View the filing
Uncertainty around US tariff and trade policy affecting order booking pace
p. 10
“Do you think that I should aggressively go for order booking when Mr. Trump is saying 100% tariff on India if they import Russian oil.”
Pratik Patel, page 10 of the filed PDF · View the filing
Loss of orders at Jash Process Equipment due to integration issues
p. 13
“we lost close to Rs.150-200 crore worth of orders in last three four months, which was quite shocking”
Pratik Patel, page 13 of the filed PDF · View the filing
Limited manufacturing capacity constraining data center pressure vessel business growth
p. 11
“we cannot produce 600 vessels in our existing setup”
Pratik Patel, page 11 of the filed PDF · View the filing
Manpower challenges at Orange, Massachusetts plant
p. 12
“for years we have been crying for competent manpower”
Pratik Patel, page 12 of the filed PDF · View the filing
Team capability constraints limiting UK market growth
p. 16
“Team is the main problem because of the type of industry and type of products we have.”
Pratik Patel, page 16 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.