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JASH ENGINEERING LIMITED — Annual Report 2022
Sep 24, 2022
59194_rns_2022-09-24_f883c95c-5fce-4812-bc8e-252b960c9a72.pdf
Annual Report
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When every drop counts…
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JASH ENGINEERING LTD. Contributing to a sustainable environment worldwide… 48[th] Annual General Meeting
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23[rd] September 2022
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Mahr Maschinenbau
Head Office at Unit 1 in Indore
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COMPANY OVERVIEW
2
JASH AT-A-GLANCE
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1973
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Incorporation of Company
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Jash Engineering Ltd.
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5 Manufacturing Units
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~850 Employees
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₹ Cr. ~374
Consolidated Sales
2021-22
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› An ISO-9001:2015 / ISO-14001:2015 /
OHSAS ISO 45000:2018 certified company dedicated to offering varied products for use in Water and Wastewater Pumping Stations and Treatment Plants, Storm Water Pumping Stations, Water Transmission Lines, Power, Steel, Cement, Paper & Pulp, Petrochemicals, Chemical, Fertilizers and other process plants.
› Headquartered at Indore, India. Jash have five well integrated state-of-art manufacturing facilities, four in India and one in USA.
Global presence with bases in India / USA / Austria / Hong Kong to serve our clients and help achieve the common goal of creating a sustainable environment for all time to come.
- ›
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Countries Global 45[+] Exports Years of 350[+] Cumulative Experience
Approved by Major Municipal Authorities in India andAbroad
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STATE OF ART FACILITIES & TURNOVER CAPABILITY
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Total
Turnover Potential
from existing facility
₹ 500+ Cr
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UNIT-1 CAST PRODUCTS PLANT
BUILT UP AREA: 125,000 Sq.ft.
Turnover Capability : ₹ 75 Crore
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UNIT-3 SEZ PLANT BUILT UP AREA: 50,000 Sq.ft. Turnover Capability : ₹ 100* Crore
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Rodney Hunt Plant, Orange, MA USA
BUILT UP AREA: 60,000 Sq.ft.
Turnover Capability : USD 10 Million
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UNIT-2 FABRICATED PRODUCTS PLANT
BUILT UP AREA: 155,000 Sq.ft.
Turnover Capability : ₹ 175 Crore
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UNIT-4 Rodney Hunt Plant
BUILT UP AREA: 50,000 Sq.ft.
Turnover Capability : ₹ 100 Crore
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- Unit2 & Unit 3 can reach this capability after further expansion in these facilities with additional investment of ~ Rs 20 crores in 2022-23 & 2023-24.
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PLANT CAPABILITIES
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Positive Material Identification
Physical & Chemical testing of material
Casting weighing up to 20,000 kgs.
Machine job with maximum sizeof upto 10,000 x 4000 x 1000 mm on CNC Machines
Water jet Cutting of stainless steel plates upto 100 mm thick
Bend & shear Fabricating capacity stainless steel up to for jobs up to 50 14 mm thick tonnes weight
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Bath pickle stainless Hydro-test sluice steel jobs up to 6000 gates up to 5000 x x 2000 x 2000mm 3500mm size and size valves up to 3000mm
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Shot blasting of Laser Cutting carbon steel up to Machine for plates 5000 x 4000 x upto 16 mm thick 20000mm
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Flight Forming Flight welding Machine for machine for 4500 5000 mm mm diameter x diameter 24,000 mm length
Flight Forming
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APPLICATION OF PRODUCTS
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Water intake systems
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Power plants
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Storm water pumping stations
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Paper & pulp plants
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Water & waste water treatment plants
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Petrochemical plants
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Irrigation systemsSteel plant
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Steel plants
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PRODUCT USAGE
Human Drinking Water Cycle 10-15% % Of Total Turnover Storm Water Cycle 5-10% % of total turnover PRODUCT USAGE
Industrial Usage 10-20 % % of total turnover Renewable Energy Generation 5-10% % Of Total Turnover
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Human Wastewater Cycle 60-70 % % of total turnover
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PRODUCT OFFERINGS WITH REVENUE CONTRIBUTION (FY22)
Water Control Gates 50% Revenue Contribution
Valves 14% Revenue Contribution
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Screening Equipment 25% Revenue Contribution
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Hydropower & Pumping , Process Equipment and others
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11%
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Revenue Contribution
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MAKING THE WORLD OUR MARKET
From predominant sales in single geography of India in early nineties, the company is today present in multiple (over 45 countries) regions with each region having significant contribution in turnover.
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Sweden MIDDLE
EUROPE
Norway EAST
& AFRICA
Canada
FY 22
United Kingdom
FY 22 Austria 139
63 USA France
Bahrain
Kuwait Hong Kong
Jordan UAE
India
Thailand
Qatar
Oman Philippines
Malaysia Vietnam
FAR & SOUTH
USA
Singapore EAST ASIA
FY 22
FY 22
1344
211
FY 22 All units are in
TOTAL
1757 ₹ Mn
Acquisitions Manufacturing & MarketingOffices Subsidiary Regional Business Associates
Mahr
Maschinenbau
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99
Crest Gate at Landsberg Fish Passage Ravensdale, WA, USA
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FINANCIAL PERFORMANCE
10
STANDALONE PERFORMANCE – JASH, SHIVPAD & JASH USA
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JASH ENGINEERING LTD. SHIVPAD ENGINEERING PVT. LTD. JASH USA / RODNEY HUNT
Revenue (₹Cr) Revenue (₹Cr/ US$ Mn)
Revenue (₹Cr)
₹ 132.5 / $17.8
264.5 23.6 ₹ 103.2 / $ 14.0
219.4 19.6
FY21 FY22
FY21 FY22
FY21 FY22
EBITDA (₹Cr)
EBITDA (₹Cr) EBITDA (₹Cr/ US$ Mn)
47.1
42.5
5.8
5.2
₹ 6.3 / $ 0.8
₹ 3.4 / $ 0.5
FY21 FY22 FY21 FY22 FY21 FY22
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CONSOLIDATED FINANCIAL SNAPSHOT
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Revenues (₹Cr)
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373.6
302.3
285.6
254.7
FY19 FY20 FY21 FY22
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Profit Before Tax (₹Cr)
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36.2
34.6
27.7
13.8
FY19 FY20 FY21 FY22
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Gross Profit (₹Cr) & Margin (%)
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57.0%
56.1% 52.4%
53.6%
195.9
172.4
160.1
136.5
FY19 FY20 FY21 FY22
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Profit After Tax (₹Cr)
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30.5 32.2
20.1
7.7
FY19 FY20 FY21 FY22
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EBITDA (₹Cr) & Margin (%)
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18.0%
16.1% 14.2%
54.5
11.6%
45.9
52.9
29.6
FY19 FY20 FY21 FY22
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ROE (%)
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19.5%
17.2%
16.0%
7.0%
FY19 FY20 FY21 FY22
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CONSOLIDATED INCOME STATEMENT
| Particulars (₹ Cr) | Q4FY22 | Q3FY22 | Q4FY21 | FY22 | FY21 |
|---|---|---|---|---|---|
| Total Income | 159.5 | 105.2 | 128.5 | 373.6 | 302.3 |
| Total Expenses | 134.9 | 91.0 | 102.8 | 339.0 | 266.1 |
| EBITDA | 29.7 | 19.3 | 30.3 | 52.9 | 54.5 |
| EBITDA Margin (%) | 18.6% | 18.4% | 23.6% | 14.2% | 18.0% |
| Finance Cost (Net) | 2.2 | 2.6 | 2.4 | 8.6 | 9.8 |
| Depreciation | 2.9 | 2.6 | 2.2 | 9.7 | 8.5 |
| PBT | 24.6 | 14.2 | 25.7 | 34.6 | 36.2 |
| Tax | 1.2 | 0.6 | 1.9 | 2.4 | 5.6 |
| PAT | 23.4 | 13.6 | 23.7 | 32.2 | 30.5 |
| PAT Margins (%) | 14.7% | 12.9% | 18.4% | 8.6% | 10.1% |
| EPS (₹) | 19.7 | 11.4 | 20.0 | 27.1 | 25.8 |
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CONSOLIDATED BALANCE SHEET
| Particulars (₹ Cr) | FY22 | FY21 |
|---|---|---|
| Equity & Liabilities | ||
| Shareholder's Funds | ||
| Share Capital | 11.9 | 11.8 |
| Other Equity | 174.7 | 144.5 |
| Total Shareholder's Fund | 186.6 | 156.3 |
| Non-Current Liabilities | ||
| Long-Term Borrowings | 16.8 | 24.3 |
| Provisions | 4.6 | 4.8 |
| Deferred Tax Liabilities(Net) | - | 0.8 |
| Other Non-Current Liabilities | 1.2 | 0.5 |
| Total Non Current Liabilities | 22.6 | 30.4 |
| Current Liabilities | ||
| Short-Term Borrowings | 65.2 | 47.7 |
| Trade Payables | 59.0 | 45.4 |
| Other Financial Liabilities | 9.1 | 8.1 |
| Other Current Liabilities | 25.7 | 27.2 |
| Provisions | 0.8 | 1.2 |
| Current Tax Liabilities (Net) | 0.07 | 0.04 |
| Total Current Liabilities | 159.9 | 129.6 |
| TOTAL - EQUITY AND LIABILITIES | 369.1 | 316.4 |
| Particulars (₹ Cr) | FY22 | FY21 |
|---|---|---|
| ASSETS | ||
| Non-Current Assets | ||
| Property,Plant & Equipment | 81.3 | 68.2 |
| Capital Work in Progress | 0.9 | 10.2 |
| Intangible Assets | 9.6 | 8.4 |
| Intangible Assets Under Development | - | 1.5 |
| Goodwill on Consolidation | 20.7 | 21.0 |
| Financial Assets | 0.7 | 0.3 |
| Non-Current Assets | 1.8 | 1.6 |
| Deferred Tax Assets(Net) | 2.9 | 0.1 |
| Other Non Current Assets | 1.4 | 1.2 |
| Total Non Current Assets | 119.3 | 112.2 |
Current Assets
| Current Assets | ||
|---|---|---|
| Inventories | 76.4 | 71.4 |
| Investments | 0.0 | 0.0 |
| Trade Receivables | 134.8 | 95.7 |
| Cash and Cash Equivalents | 3.8 | 3.9 |
| Other Bank Balances | 22.9 | 18.3 |
| Loans | 0.1 | 0.1 |
| Other Financial Assets | 1.4 | 2.8 |
| Other Current Assets | 2.4 | 4.2 |
| Total Current Assets | 241.8 | 196.4 |
| Asset Classified as held for sale | 8.0 | 7.7 |
| TOTAL - ASSETS | 369.1 | 316.4 |
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Sluice Gates at Storage Reservoir Colorado River Front, Colorado, USA
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BUSINESS OUTLOOK
15
CONSOLIDATED ORDER BOOK AS ON 1[ST] SEPTEMBER 2022
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Shivpad
With In India Outside India Engineering
Pvt Ltd
₹ 465 cr ₹ 16 cr
₹ 204 cr
Domestic & Subsidiaries
order book Combined Export USA IncJash
stood at
₹ 669 cr ₹ 258 cr
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CONSOLIDATED ORDER PIPE LINE AS ON 1[ST] SEPTEMBER 2022
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Within India Outside India Within India Outside India
₹ 4 cr ₹ 13 cr ₹ 33 cr ₹ 27 cr
ALREADY UNDER
NEGOTIATED NEGOTIATION
Combined Combined
₹ 17 cr ₹ 60 cr
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Orders already negotiated with clients by 1st September 2022 will generally be received within next 2 months. Our strike rate for offers under negotiation and expected to be decided in coming months is generally over 35%
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CONSOLIDATED SALES OUTLOOK FOR FY 22-23
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Shivpad Engineering
Within India Outside India Engineering & Manufacturing
Pvt Ltd Jash Ltd
₹ 230 cr ₹ 25 cr ₹ 1 cr
₹ 200 cr
Domestic & Subsidiaries
Combined Export USA IncJash
₹ 165 cr
₹ 430 cr
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Projections are subject to adverse conditions due to Covid-19 & Russian-Ukraine war related developments
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HIGHLIGHTS OF 2021-22
1. Rodney Hunt has turned the corner and has become profitable. Henceforth we expect continuous improvements in its performance.
2. The company has already become the first company to offer local manufactured Disc Filter machines in Indian market. Indigenization of disc filter machine is progressing well and we expect the machine to be majorly indigenized by March 2023. This should help the company to sell more machines in year 2023-24.
3. The company successfully developed and manufactured Air Vessels for water hammer control requirement. The company expects this business to grow significantly in time to come and will strength our water hammer control products offering.
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Disc Filter
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Air Vessel
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HIGHLIGHTS OF 2021-22
4. The Cast Iron Gates manufacturing facility at SEZ Unit 3 was commissioned in April 2022. With this development the dependency of export production on domestic production units is restricted to just sourcing of castings from Unit 1. This will help improve capacity as well as delivery in exports as well as domestic markets.
5. The company has carried out significant improvements in its manufacturing capabilities and various other facilities in all its manufacturing units in the year 2021-22. This will help company in achieving higher revenue and improve on its delivery in the coming years. ( Covered in detail in next slides )
6. The company has drawn up plans to set up new manufacturing facilities at Indore as well as Chennai in year 2022-23 as under :
-
Construction activities for new stainless steel products plant at Unit 2 will start by Oct 2022 and the plant is expected to be commissioned by Dec 2023. This plant will be built at a cost of approx. Rs. 11 crores. Construction of this plant will help in manufacturing of new products like Disc filters and other new products to be added under collaboration with Invent and X2 Solutions , Italy.
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Shivpad has been allotted 2 acres Land at SIPCOT Industrial Park Vallam-Vadagal in Chennai. This will enable Shivpad to build up its own manufacturing facility so as to be in a position to scale up its revenue in future. This plant will be built in 2 phases and the first phase will call for an investment of approx. Rs. 10 crores. Construction activities will start by Jan 2023 and the plant is expected to be commissioned by March 2024.
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INFRASTRUCTURAL IMPROVEMENTS IN 2021-22
UNIT-2 : FABRICATED PRODUCTS PLANT
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New Canteen Facility
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Inside view of canteen
Expansion of Oxygen Tank
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New Concrete Road At Entrance
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New Concrete Road inside Plant
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INFRASTRUCTURAL IMPROVEMENTS IN 2021-22
UNIT-3 : SEZ EXPORTS PLANT
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Plant Expansion for Cast Iron Products
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Shot Blasting
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Machine Shop
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Assembly Area
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Paint Shop
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Gate Hydro-Testing Area
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SHAREHOLDERS INFORMATION
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STOCK DATA
(As on 13 [th] September 2022)
Symbol (NSE)
JASH
Market
Shares
Outstanding ₹ Capitalization
(₹Cr)
1.19 Cr
959.7
Stock Price (₹)
806.50
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SHAREHOLDING PATTERN
Employee Trusts
0.9%
Public Promoters
(As on 30 [th]
47% June 2022) 53%
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THANK YOU
JASH ENGINEERINGLTD
31, Sector-C, IndustrialArea, Sanwer Road, Indore, INDIA.
Ph. No. +91-731-2720143,2720034 Email: [email protected] Website: www.jashindia.com
RODNEYHUNT INC
158 Gov DukakisDrive, Orange, MA 01364, USA
Ph. No. (978) 6334362, Email: [email protected] Website:www.rodneyhunt.com
JASH USAINC
4800 Sugar Grove Blvd, #602, Stafford, TX77477 USA
Ph. No. (281) 9626369, Email: [email protected] Website:www.jashusa.com
MAHR MASCHINENBAUGMBH
Kupferschmiedgass 8, A-2201 Hagenbrunn, AUSTRIA Ph. No. +4322463521 Email:[email protected] Website: www.mahrmaschinenbau.com
SHIVPAD ENGINEERS PVTLTD.
3/86-E, ATC Street, 2nd Main Road, Ambattur Industrial Estate, Ambattur, Chennai , 600 058, INDIA Ph. No. +91-44-4860 6201/48606203 Email: [email protected] Website:www.shivpad.com
E&M JASHLTD.
905, Silvercord Tower2, 30 Canton Road, Tsimshatsui,Kowloon, HONGKONG
Ph. No. +852 23753180 Email: office@eand ~~3~~ m ~~1~~ jash.com Website: www.e ~~andmj~~ ash.com
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Mahr Maschinenbau
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Mahr Maschinenbau
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