Call Transcript

18.08.2026 The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Bandra Kurla Complex, Bandra (East) Phiroze Jeejeebhoy Towers, Mumbai – 400 051 Dalal Street, Mumbai - 400 001. Symbol: JASH Scrip Code: 544402 Sub.: Transcript of Q1 FY27 Earnings Conference Call Dear Sir/ Ma’am, We are enclosing herewith the transcript of Q1 FY27 Earnings conference call with the Investors held on Wednesday, 12th August, 2026. You are requested to take the aforementioned information on records. Thanking You, Yours Faithfully, For JASH Engineering Limited Tushar Kharpade Company Secretary & Compliance officer “Jash Engineering Limited Q1 FY27 Earnings Conference Call” August 12, 2026 MANAGEMENT: MR. PRATIK PATEL – CHAIRMAN & MANAGING DIRECTOR MR. DHARMENDRA JAIN – CHIEF FINANCIAL OFFICER Page 1 of 17 Jash Engineering Limited Siddesh Chawan: Good afternoon, everyone. I am Siddesh Chawan from Ernst & Young and I would like to welcome you to the Jash Engineering Q1 FY27 earnings conference call. To ensure a seamless experience all participants are requested to remain on mute during management opening remarks. There will be a dedicated Q&A session at the end of the presentation. If you wish to ask a question during the Q&A please select the raise hand option under the reaction tab of the Zoom application. We will call out your name and then request you to unmute yourself to ask the question. While asking, please begin with your name and your organization. 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 questions. Today, we have the top management of Jash Engineering limited represented by Mr. Pratik Patel, Chairman and Managing Director, and Mr. Dharmendra Jain, Chief Financial Officer. Now I would like to draw your attention to Safe Harbour related to today's earnings call. Comments made during the call may contain forward looking statements that may involve known or unknown risk, uncertainties and other factors. It must be viewed in conjunction with our business risk that could cause future result performance or achievements to differ significantly from what it is expressed or implied by such forward looking statements. After the end of this call if you need any further information or clarifications, please do get in touch with us. With that said, I will now hand over the call to Mr. Pratik Patel. Over to you, sir. Pratik Patel: Good afternoon, everyone. Thank you for sparing your valuable time and attending this call. I would now like to present the results for the first quarter. During this quarter, we reported revenue of Rs.156 crore, which is quite a significant improvement year on year by around 17% and also our PAT has turned positive in comparison to last year, so I would say the improvement has been there over corresponding period in last year. Most important is that during this quarter we also commissioned our foundry expansion as well as our gate and valve manufacturing expansion, this increases our capacity up to 30% and this would help us a lot in future in meeting our projected revenue targets. Our order book also is quite healthy and is enough to cater to our yearly target and would allow us by the end of the year to have enough overflow of orders to take care of next year growth. This year, we now shift from India to our focus in America as well as in Saudi Arabia. As of today, it's funny that both these places are not stabilized. Saudi Arabia is still facing problem due to the Iran embargo of on the Gulf, and U.S. has issues related to Mr. Trump changing his position from time to time. However, both the markets are important, Page 2 of 17 Jash Engineering Limited and we have no other option but to be engaged with these two markets. As far as our long- term growth and strategy is concerned, we are quite confident that we would be able to achieve our projected revenue target of Rs.1500 crores by 2031. With this, I will now go to the results. Our quarter-to-quarter revenue, this year has grown by 17%, it is not what I expected. I expected much better because the material which we produced for Qatar as well as for Singapore, we have not been able to ship. The Qatar material is stuck for now more than three months because of the Gulf crisis. Many other orders also of Middle East are produced and kept in stock because we are not getting any vessels from India to ship to that region because of the conflict in that region. In case of Singapore, we are not delivering because we have some problem about getting the payments, and so we are erring on the side of caution by not dispatching the materials. If those things would have been there. These results would have been much better. Our gross profit as well as margin, both have improved from last quarter of the last year. Our EBITDA margin also has improved as well as our EBITDA has improved. And the PAT also has from minus Rs.5 crore, it has gone to plus Rs.5 crore. So I would say overall the quarter has been satisfactory, not as much as I would have desired, but it is still much better than what we were last year. On the standalone basis, the two good news has been at Jash Engineering and at Waterfront. In case of Jash Engineering, the revenue has increased 21%, and our PAT has significantly increased in this quarter. In case of Waterfront also, there has been marginal increase in revenue, but because of very high profitable orders which we executed went up in profit in this quarter. And some time back during the last meeting, I had said that this year we expect Waterfront to achieve 5 million plus in revenue with a significant profit, and we maintain it would happen. As far as Rodney Hunt is concerned, there is no cause of concern. 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. What you see today is something which is the first quarter blues, but I am sure that as we progress in the other quarters, you will see improvement at Rodney Hunt also. I am little bit concerned on Jash process equipment, but now we are working intensively and engaging with them in a very detailed manner to see that this company is also showing good performance by the end of the year. As far as our consolidated order book condition is concerned, 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 crore, which is quite a healthy sign because the more orders we have outside India, the improved performance on the PAT as well as EBITDA margins. As you can see, 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, which is quite low compared to what we expected, and Jash Engineering is Rs.559 crore. If you add the orders which we have already executed, the revenue till 30th June and the order book we have today you will observe that it is more than Rs.1,080 crores which means that it should be easy for Page 3 of 17 Jash Engineering Limited us to meet our projected Rs. 875 crore revenue target, which I had informed in the last meeting. Our pipeline of orders is still strong. We have already negotiated orders for Rs.72 crore and various orders worth Rs.60 crore are under negotiation. Here, I would like to say that the under-negotiation figure is only for those projects where the negotiations have commenced. We still expect more orders to be negotiated within this month, and we are quite hopeful of adding Rs.72 crores something similar this month also. This shows our consolidated income statement as you can see from Q1 FY27 and Q1 FY26, there has been improvement at all stages. What is quite heartening is that the gross profit m [Showing first 8,000 characters — download PDF for full document]