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JASH ENGINEERING LIMITED Interim / Quarterly Report 2021

Nov 12, 2020

59194_rns_2020-11-12_266b65dc-e47e-48c1-985d-95a098b13c7f.pdf

Interim / Quarterly Report

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JASH ENGINEERING LTD. Contributing to a sustainable environment worldwide…

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Mahr Maschinenbau

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COMPANY OVERVIEW

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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 ~800 Employees

₹ 278 Cr. Consolidated sales Year 2019-20

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› An ISO-9001:2015 / ISO-14001:2015 / BS OHSAS 18001:2007 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 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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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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UNIT-2 FABRICATED PRODUCTS PLANT BUILT UP AREA: 155,000 Sq.ft. Turnover Capability : ₹ 200* Crore

Total

Turnover Potential from existing facility

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₹ 500 Cr
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UNIT-4 Rodney Hunt Plant BUILT UP AREA: 50,000 Sq.ft. Turnover Capability : ₹ 125 Crore

  • Unit2 & Unit 3 can reach this capability after further expansion in these facilities.

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PRODUCT USAGE

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Human Drinking Water Cycle
10-15%
% Of Total Turnover
Storm Water Cycle
5-10%
% of total turnover
PRODUCT
USAGE
Human Wastewater Cycle
60-70 %
% of total turnover
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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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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 OFFERINGS WITH REVENUE CONTRIBUTION (FY20)

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Water Control Gates
47%
Revenue Contribution
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Valves
17%
Revenue Contribution
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Screening Equipment 18% Revenue Contribution

Hydropower & Pumping , Process Equipment and others 18% Revenue Contribution

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FINANCIAL HIGHLIGHTS

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STANDALONE H1FY21 PERFORMANCE – JASH ENGINEERING LTD.

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Revenues (₹ Cr)
91.4
66.0
H1FY20 H1FY21
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EBITDA (₹ Cr)
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15.2
12.7
H1FY20 H1FY21
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Gross Profit (₹ Cr)
51.7
43.4
H1FY20 H1FY21
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Profit after tax (₹ Cr)
6.3
4.7
H1FY20 H1FY21
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Mahr Maschinenbau

STANDALONE H1FY21 PERFORMANCE – SHIVPAD ENG PVT LTD.

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Revenues (₹ Cr)
7.4
7.0
H1FY20 H1FY21
EBITDA (₹ Cr)
2.0
1.7
H1FY20 H1FY21
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Gross Profit (₹ Cr)
3.2
2.8
H1FY20 H1FY21
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Profit after tax (₹ Cr)
1.3
1.2
H1FY20 H1FY21
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STANDALONE H1FY21 PERFORMANCE – JASH USA / RODNEY HUNT

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Revenues (US$ Mn)
4.8
4.6
H1FY20 H1FY21
EBITDA (US$ Mn)
-0.30
-0.90
H1FY20 H1FY21
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Gross Profit (US$ Mn)
2.1
1.1
H1FY20 H1FY21
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Loss after tax (US$ Mn)
-0.5
-1.1
H1FY20 H1FY21
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CONSOLIDATED H1FY21 FINANCIAL PERFORMANCE

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Revenues (₹Cr)
116.2
93.3
H1FY20 H1FY21
EBITDA (₹Cr)
13.7
6.9
H1FY20 H1FY21
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Gross Profit (₹Cr)
65.6
53.5
H1FY20 H1FY21
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Profit after tax (₹Cr)
2.6
-3.3
H1FY20 H1FY21
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CONSOLIDATED H1FY21 BALANCE SHEET (₹ CR)

Balance sheet as on 30/09/20

Capital Structure
Capital Structure (₹cr)		 Capital Structure
Capital Structure (₹cr)
Cash 17.7
Debt 77.2
Net Debt 59.5
Net Worth 123.6

Ratio Capital StructureLeverage Total Debt / Capital 63% Net Debt / Capital 48% Debt / EBITDA 2.0x

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H1FY21 Capital Allocation
Capital Expenditure
Capital Expenditure
Capex of
₹ 3.4cr
for the year (3.6%
of revenue)
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OUTLOOK

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CONSOLIDATED PENDING ORDER BOOK AS ON 31[st] OCT 2020

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Shivpad Engineering
Export Domestic Engineering & Manufacturing
Pvt Ltd Jash Ltd
₹ 157.01 cr ₹ 24.45 cr ₹ 0.9 cr
₹ 255.00 cr
Domestic & Subsidiaries
order book Combined Export USA IncJash Maschinenbau Mahr
stood at GES M.B.H
₹ 412.01 cr ₹ 122.48 cr ₹ 0.3 cr
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CONSOLIDATED ORDER PIPE LINE FOR Q3 AS ON 31[ST] OCT

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Export Domestic Export Domestic
₹ 16.86 cr ₹ 32 cr
₹ 23.96 cr ₹ 57 cr
ALREADY UNDER
NEGOTIATED NEGOTIATION
Combined Combined
₹ 40.82 cr ₹ 89 cr
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Orders already negotiated with clients by 31[st] Oct 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 20-21

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Shivpad Engineering
Export Domestic Engineering & Manufacturing
Pvt Ltd Jash Ltd
₹ 155 cr ₹ 20 cr ₹ 1 cr
₹ 150 cr
Domestic & Subsidiaries
Combined Sales Export USA IncJash Maschinenbau Mahr
GES M.B.H
₹ 305 cr ₹ 110 cr ₹ 0.1 cr
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Projections are subject to adverse conditions due to Covid related developments

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OTHER DEVELOPMENTS

  1. Roof top solar generation of 450 kW capacity is now commissioned and will result into approx. annual power saving of Rs 11 lacs.

  2. SAP S4 HANA is finally commissioned in Oct 2020 and by Dec 2020 most operational issues related to it are expected to be resolved. We expect to finally start getting benefits of a good ERP system by 2021-22.

  3. New software to accumulate data on design estimation of gates so as to reduce repetitive type of work in estimation is developed and is under user trials. This will be commissioned in Dec 2020 and thereafter will help in carrying out estimates faster enabling higher output by existing estimation engineers. Once implemented this will enable same number of people to handle 50% higher work load.

  4. Loan sanction for undergoing expansion is delayed. As a result First phase expansion in Unit 3 and expansion in machining capability at Unit 2 and Unit 1 will now be completed by March 2021 end instead of Jan 2021 end.

  5. New Operations Head at RH Orange manufacturing facility has joined from 1[st] week of November.

  6. The loan taken by Jash USA for acquisition of Rodney Hunt has now been fully paid and now Jash USA is debt free.

  7. New VP Marketing at Jash ( replacement of H.N. Nagaraj ) is short listed and will join from Dec 2020.

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MANAGEMENT COMMENTARY

Mr. Pratik Patel

Managing Director

“Standalone operations of Jash Engineering Ltd and Shivpad Engineers have already become profitable in the first half of FY20-21 and as sales grows substantially in second half we expect significant improvement in their profitability. However losses from US subsidiary Rodney Hunt has impacted the overall consolidated results thereby leading into loss of Rs. 3.33 crores. The primary reason for this is that revenue from India manufactured goods at Rodney Hunt was greatly affected in first half on account of Covid related closure in Indian plants till mid May, production time of 8-12 weeks subsequent to start of operations in May and 7 weeks delivery period from our plant to clients site in USA. However we expect significant billing in second half at RH from India manufactured goods and thereby expect to achieve billing in excess of USD 15 million at US subsidiary and be in black in FY 20-21. The overall business outlook still looks promising inspite of Covid interruptions and we remain confident of positive performance going forward.”

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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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