JASH ENGINEERING LIMITED — Interim / Quarterly Report 2022

Feb 11, 2022

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JASH ENGINEERING LTD. Contributing to a sustainable environment worldwide…

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Mahr Maschinenbau

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DISCLAIMER

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Jash Engineering Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements andprojections.

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WHAT’S INSIDE

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Company Overview

Products & Application

Financial Performance Business Outlook

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Head Office at Unit 1 in Indore

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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

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~800 Employees

₹ Cr. ~302 Consolidated Revenue 2020-21

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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
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Approved by Major Municipal Authorities in India andAbroad

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2019

EVOLUTION OF THE COMPANY

Established plant of 50,000 Sqft at SEZ for Fabricated products. Technical Collaboration with Invent, Germany for Disc Filters

2009

1996

Acquisition of Sureseal to

Biggest Water Control gates company of India & converted into public limited company . 2005 Technical & Financial Expanded Screen collaboration with manufacturing facility and Schuette , Germany for became largestmanufacturer Bulk solids valves of fine screen in India

2012

add Water Hammer control valve range

Established new plant of 150,000 Sqft. for Fabricated products. Technical collaboration with Mahr Maschinenbau , Austria for various Screens

2010

2017

Established plant of 50,000 Sqft. At SEZ Pithampur for Valves & Gates

Company listed on National Stock Exchange (NSE)

2000 2006

2018

2014

2011

New facility to manufacture bulk solids handling valves 2008

First company to introduce finescreen in India in Technical collaboration with 1973 Hollung, Sweden

Acquisition of Established plant of Mahr Maschinenbau, 60,000 sqft at Orange Austria Massachusetts, USA for Fabricated products.

Technical collaboration with Rehart, Germany for Archimedes screw pumps & hydro power generation. Acquisition of Shivpad to add Process Equipment range

2016 Acquisition of Rodney Hunt Brand in USA

Technical collaboration with Weco Armaturen, Germany to offer its range of Valves in Asian market

Formation of

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Jash Engineering Pvt Ltd 66

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EVOLUTION THROUGH ACQUISITION

Rodney Hunt Inc., USA (FY-21 revenue ₹ 103 Cr.) (Acquired at US$ 4 million) Mahr Maschinenbau GmbH,AUSTRIA (FY-21 revenue of Mahr products ₹ 21 Cr.) (Acquired at Euro 2 million.)

Shivpad Engineers Pvt. Ltd, INDIA (FY-21 revenue of Process Equip ₹ 25 Cr.) (Acquired at ₹ 6 Cr.)

Sureseal, INDIA

(FY-21 revenue of Sureseal products ₹ 9 Cr.) (Acquired at ₹ 1Cr.)

To add world renowned brand and get access into north American market of water 2016 control gates. To get access to top representatives in states so that they can help in selling screens & knife gate valves. To add world renowned Screening technology and brand so that these could be leveraged in 2014 export market and help push gates and screens as a package.

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To add treatment process equipment and increase the package size of products offered in a particular project. To add niche products of water hammer control in the water conveyance cycle where company had no presence in India.

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2011

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2009

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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 FY-2022 & 2023.

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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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Crest Gate at Landsberg Fish Passage Ravensdale, WA, USA

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FINANCIAL PERFORMANCE

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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)
91.4/ 12.3
146.1
122.1 58.8/ 7.9
12.7 12.4
9M FY21 9M FY22 9M FY21 9M FY22
9M FY21 9M FY22
PAT (₹Cr)
PAT (₹Cr) PAT (₹Cr/ US$ Mn)
11.5
10.4
2.4
1.7
9M FY21 9M FY22
9M FY21 9M FY22 9M FY21 9M FY22
-2.1/ -0.3
-5.9/ -0.8
1111 Mahr
Maschinenbau
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CONSOLIDATED FINANCIAL SNAPSHOT

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Revenues (₹Cr) Gross Profit (₹Cr) & Margin (%)
60.5% 57.4%
214.1
173.8
122.9
105.2
9M FY21 9M FY22 9M FY21 9M FY22
EBITDA (₹Cr) & Margin (%) Profit After Tax (₹Cr)
8.7
13.9%
6.8
10.8%
24.2 23.2
9M FY21 9M FY22 9M FY21 9M FY22
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QUARTERLY CONSOLIDATED INCOME STATEMENT

Particulars (₹ Cr)	Q3FY22	Q2FY22	Q3FY21	9MFY22	9MFY21
Total Income	105.2	61.8	80.5	214.1	173.8
Total Expenses	91.0	62.2	68.1	204.1	163.4
EBITDA	19.3	3.6	17.3	23.2	24.2
EBITDA Margin (%)	18.4%	5.9%	21.5%	10.8%	13.9%
Finance Cost (Net)	2.6	2.0	2.7	6.4	7.4
Depreciation	2.6	2.0	2.2	6.8	6.3
PBT	14.2	-0.4	12.4	9.9	10.5
Tax	0.6	0.7	2.3	1.2	3.7
PAT	13.6	-1.1	10.1	8.7	6.8
PAT Margins (%)	12.9%	-1.9%	12.6%	4.1%	3.9%
EPS (₹)	11.4	-0.9	8.5	7.3	5.7

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Sluice Gates at Storage Reservoir Colorado River Front, Colorado, USA

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BUSINESS OUTLOOK

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HEALTHY ORDER BOOK AS ON 1[ST] FEBRUARY 2022

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Shivpad Engineering
Within India Outside India Engineering & Manufacturing
Pvt Ltd Jash Ltd
₹ 285 cr ₹ 20 cr ₹ 1 cr
₹ 191 cr
Domestic & Subsidiaries
Combined Export USA IncJash
₹ 476 cr ₹ 113 cr
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CONSOLIDATED ORDER PIPELINE AS ON 1[ST] FEBRUARY 2022

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Within India Outside India Within India Outside India
₹ 82 cr ₹ 78 cr
₹ 3 cr ₹ 33 cr
ALREADY UNDER
NEGOTIATED NEGOTIATION
Combined Combined
₹ 85 cr ₹ 111 cr
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Orders already negotiated with clients by 1[st] February 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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OTHER DEVELOPMENTS

1. Improving performance of Rodney Hunt in order execution and increasing confidence of US clients about the future sustenance of the company is finally resulting into bigger orders coming to the company. We are pleased to inform that we have secured 3 large orders totally worth over Rs 60 crores in first 10 days of February. This includes an order of Rs. 20 Cr for supply of Roller gates to Sevier Bridge Dam project in Utah, USA , order from Technib (France )- Chiyoda ( Japan) JV for supply of Sluice gates and Stoplogs worth Rs. 28 Cr to RAS LAFFAN Gas project in Qatar and an order of Rs. 12 Cr for supply of Sluice gates to Sand Island project in Honolulu , Hawaii.

2. In addition to these three orders we are also expecting another order worth Rs. 37 Cr for supply of large Cast iron gates to a project in Kansas, USA. This order is under final stages of negotiation and is expected to be awarded to us within February.

4. 1. The company has received its maiden order from Acciona Spain , a major international EPC player in Water / Waste water / Desalination projects, for supply of valves worth Rs. 1.85 Cr to its Philippines project. With this order the company gets an entry into Acciona and can now vie for orders for its other products as well.

5. The company shall formally inaugurate the new Cast Iron Gates manufacturing plant at SEZ Unit 3 in early April and start commercial production immediately thereafter. This shall help greatly in meeting the rising demand from export markets and spare up capacities in domestic manufacturing facility of Unit 1 to meet the expected rising demand of Indian market.

6. The Foundation stone for the new Stainless steel products plant at Unit 2 will be laid by Marcus Hoeffkin, MD of Invent Germany in April. During this visit of Mr Hoeffkin the company will also sign the collaboration agreement for the new products that it intends to offer in Indian market.

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MANAGEMENT COMMENTARY

Mr. Pratik Patel

Managing Director

• “The nine months performance has been encouraging. We delivered a revenue growth of 23.3% YoY which is not as per our expectation but we hope for positive off take in the last quarter so as to meet the desired target for the year.

EBITDA has reduced 3% due to the increase in material costs. However margin by approx. unprecedented input PAT margin at 4.1% has slightly improved against 3.9% for the same period in previous year.

Our revenues historically are very strong in last quarter due to improved off take by our clients to meet their annual revenue target before the financial year ends on March 31[st] . In the three months of last year we had achieved revenue of Rs. 128.5 crores and we expect to achieve higher revenue than this so as to close the current year with revenue as projected.

We continue to have order book at Rs.476 crores on the back of robust demand environment for our healthy products globally. The business outlook appears to be strong, and we remain optimistic about future performance.”

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SHAREHOLDERS INFORMATION

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STOCK DATA
(As on 01 [st] February 2022)
Symbol (NSE)
JASH
Market
Shares
Outstanding ₹ Capitalization
(₹Cr)
1.19 Cr
556.44
Stock Price (₹)
467.6
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SHAREHOLDING PATTERN
Public Promoters
(As on 31 [st]
47% December 53%
2021)
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THANK YOU

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For further information, contact:

Siddesh Chawan Christensen Advisory E-mail: schawan@christensenir.com Ph.: +91 (22) 4215 0210

Dharmendra Jain Jash Engineering Limited E-mail: dharmendrajain@jashindia.com Ph.:0731-6732700, 0731-2720143

JASH ENGINEERINGLTD

31, Sector-C, IndustrialArea, Sanwer Road, Indore, INDIA.

Ph. No. +91-731-2720143,2720034 Email: info@jashindia.com Website: www.jashindia.com

RODNEYHUNT INC

158 Gov DukakisDrive, Orange, MA 01364, USA

Ph. No. (978) 6334362, Email: orange@rodneyhunt.com Website:www.rodneyhunt.com

JASH USAINC

4800 Sugar Grove Blvd, #602, Stafford, TX77477 USA

Ph. No. (281) 9626369, Email: sales@jashusa.com Website:www.jashusa.com

MAHR MASCHINENBAUGMBH

Kupferschmiedgass 8, A-2201 Hagenbrunn, AUSTRIA Ph. No. +4322463521 Email:office@mahr.at 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: sales@shivpad.com 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

2020