Jash Engineering Limited — Investor Meet, 12-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Jash Engineering reported FY25 revenue up 43% YoY with gross profit +34%, EBITDA +31%, and PAT +30%. PAT margin contracted slightly to 12% due to loss-making projects, including a strategic Rs.50 Cr Tata nuclear order and execution issues in the US. Domestic revenue strength was led by sewage and stormwater projects, with Mumbai orders surpassing Rs.100 Cr.

The US business faces manpower constraints at Orange, prompting plans for a Houston plant by 2026-27. Order book is healthy at Rs.838 Cr (Rs.546 Cr overseas, Rs.292 Cr domestic). FY26 targets Rs.860 Cr revenue, EBITDA margin of 21-24%, and PAT 12-14%, balancing growth with selective margin pressures.

Capacity expansion continues in India and overseas, with strategic focus on geographic diversification, wastewater, and desalination markets. Management remains confident of sustainable mid-to-high teens revenue growth amid challenging conditions.