Jash Engineering Limited has informed the Exchange about Transcript
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Jash Engineering's Q1 FY26 performance was subdued due to US tariff concerns that led to deferred deliveries. Standalone revenue declined to Rs.82 crore from Rs.92 crore, while consolidated revenue grew to Rs.133 crore from Rs.116 crore. Rs.28 crore of dispatched material could not be booked as revenue due to US gap practice. The consolidated order book stands strong at Rs.875 crore, with management maintaining full-year revenue guidance of Rs.860 crore plus, though PAT guidance was widened to Rs.80-110 crore range depending on US tariff outcomes. The company is advancing two acquisitions: a 90% stake in WesTech India (Rs.55 crore revenue, Rs.4 crore profit) expected to close next month, and another UK company deal targeted for September, with combined acquisition spend of Rs.40 crore. Management accelerated plans to build a manufacturing plant in Houston by 2026 (originally 2028) to mitigate 50% US tariffs and is expanding Orange capacity to shift Rodney Hunt's US production share from 30-35% to 65-70%.
Near-term margin pressure from US tariff escalation (50% from 25%) and existing order book exposure, but strong order pipeline, geographical diversification (India 42%, USA 37%, ROW 21%), and strategic acquisitions position the company for long-term growth. Shareholders should expect continued revenue momentum but potential PAT volatility in FY26.