Jash Engineering Ltd(JASH)

NSE: JASHBSE: 544402

₹ 478.3-3.23%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 3,023 crNext results: 4 Nov 2026Website: www.jashindia.comUpdated: 24 Oct 2026

About

Jash Engineering Ltd designs and manufactures equipment for water intake systems, water and wastewater pumping and treatment, desalination, flood prevention, small hydro and process industries, including water control gates, screening systems and knife gate valves. The company reported FY26 revenue of ₹736.19 Cr, of which 55.5% came from outside India. It says it is the market leader in India for most of its products and among the top 5 in the world in water control gates.^[1][2][3]

Business segments

The company reports one segment, engineering products. Revenue from outside India was ₹408.89 Cr in FY26, or 55.5% of the total. Rodney Hunt (USA) and Waterfront (UK) are the main contributors.^[3]
Revenue from within India was ₹327.3 Cr in FY26, or 44.5% of the total.^[3][1]
Exports were 55.54% of consolidated revenue in FY26, down from 63.39% in FY25. The company aims to raise its share of revenue from outside India to more than 65%.^[1]

Products and brands

Products include water control gates, mechanised screening systems, knife gate valves, bulk solid handling valves, water hammer control valves, air and bladder vessels, Archimedes screw pumps and turbines, and treatment equipment such as clarifiers.^[1]
As of FY26, the brands are Jash, Jash Schuette, Jash Mahr, Sureseal, Shivpad, Mahr Maschinenbau, Rodney Hunt, Waterfront, Penstock UK, E&M and Jash Invent.^[1]
The company has developed and supplied bladder vessels from 1 m3 to 80 m3, covering the entire size range (FY26 annual report).^[1]
Disc filters are being made locally, with 3 disc filter orders in hand as of the FY26 annual report.^[1]
The Jash Invent joint venture is not operating, according to the FY26 annual report.^[1]

Manufacturing operations

Unit-2 (fabricated products, Pithampur) covers 185,000 sq. ft. with ₹350 Cr turnover capability. Unit-3 (SEZ) covers 75,000 sq. ft. with ₹100 Cr capability. Unit-1 (cast products) covers 125,000 sq. ft. with ₹75 Cr capability (FY25).^[4]
A third Pithampur SEZ plant (65,000 sq. ft., stainless-steel fabrication) opened in February 2026 and began commercial production in April 2026.^[5]
The Unit-1 foundry expansion and the gate and valve expansion were commissioned in Q1 FY27. Together they raised India manufacturing capacity by over 30%.^[6]
Rodney Hunt Inc., a wholly owned subsidiary based in Houston, makes water control gates at its plant in Orange, Massachusetts.^[1]
The company owns 80% of Waterfront Fluid Controls in Glasgow, UK. Penstocks (UK) added about 700 sq. m. to the 2,500 sq. m. Glasgow plant.^[1][7]
Mahr Maschinenbau in Austria develops screening technology. Most of its manufacturing has been closed down (FY26).^[1]
The company had 1221 employees as of FY26.^[1]

Order book and operating numbers

The consolidated order book was ₹944 Cr as of 1 October 2026 (₹313 Cr domestic, ₹631 Cr export), plus ₹53 Cr of negotiated but unconfirmed orders.^[8]
Order inflow in September 2026 was ₹102 Cr: ₹43 Cr domestic and ₹59 Cr international.^[8]
The consolidated order book was Rs 91,175 lacs as of 1 July 2026, compared with Rs 84,400 lacs as of 1 July 2025.^[1][4]
Gross margin was 60.2% in Q1 FY27, compared with 50.8% in Q1 FY26.^[6]
Rodney Hunt revenue was $30.1 Mn in FY26, down from $34.3 Mn in FY25. Its order book was about $40 Mn in Q1 FY27.^[7]

Customers and distribution

As of FY25, the company exported to 29 countries. In FY25, 37% of revenue came from India and 40% from the Americas.^[4]
One customer accounted for about 10.83% of group revenue in FY25.^[4]
In Q1 FY27, about ₹15 Cr of finished goods could not be shipped: Qatar material was held because of the Gulf crisis, and a Singapore dispatch was held back pending payment.^[6]

Expansion and capex

The company targets Rs 150,000 lacs of consolidated revenue by 2030-31, with about Rs 20,000 lacs of investment between 2026-27 and 2030-31.^[1]
Planned Rodney Hunt spending is Rs 1,500 lacs to expand the Orange plant in FY27 and about Rs 11,500 lacs for a new Houston plant in FY28-29. Houston commissioning is targeted for December 2027.^[1][6]
A fabricated products plant in Saudi Arabia is planned for 2027-28 at a tentative cost of Rs 4,000 lacs.^[1]
Standalone capex is about Rs 1,000 lacs in FY27, with no major investment planned for the next 3 years. The company is also evaluating 250-350 kW of additional solar capacity.^[1]
Data centre pressure vessels: the first order, for 4 vessels, came in Q1 FY27, and a 32-vessel follow-on order was under negotiation.^[6]

Recent developments

The company acquired 90% of Jash Process Equipment (formerly WesTech India) for INR 2,911.41 lakhs in cash, effective 23 January 2026.^[1]
Under an agreement dated 2 April 2026, subsidiary Waterfront acquired 100% of Penstocks (UK) Limited. The merger into Jash Waterfront Penstock UK Ltd. is set to run from August to December 2026.^[1]
In Q1 FY27, Jash Process Equipment revenue fell 50% year on year to ₹8 Cr, with a loss of ₹1 Cr.^[6]
In Q1 FY27, Mahr won its first two large UK screen orders and an order for 14 screens for Iraq. Its order book was ₹31 Cr.^[6]
The FY26 annual report says risk from US tariffs remains.^[1]

Market Cap

₹3,023 Cr

High / Low

₹620 / 321

Stock P/E

36.2

Price / Book

6.0

Book Value

₹82

EPS

₹11.9

No. of Shares

6.32 Cr

ROCE

17.8%

ROE

15.9%

OPM

13.6%

Debt / Equity

0.16

Sales

₹736 Cr

Net Profit

₹76 Cr

Promoter holding

43.2%

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Jash Engineering Ltd(JASH)

About

Business segments

Products and brands

Manufacturing operations

Order book and operating numbers

Customers and distribution

Expansion and capex

Recent developments

Signal history

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