JASH ENGINEERING LIMITED — Investor Presentation 2022

May 30, 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 Overview

Financial Performance Business Outlook

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Head Office at Unit 1 in Indore

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COMPANY OVERVIEW

4

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
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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-22 revenue ₹ 132.5 Cr.) (Acquired at US$ 4 million) Mahr Maschinenbau GmbH,AUSTRIA (FY-22 revenue of Mahr products ₹ 27.16 Cr.) (Acquired at Euro 2 million.)

Shivpad Engineers Pvt. Ltd, INDIA (FY-22 revenue of Process Equip ₹ 35 Cr.) (Acquired at ₹ 6 Cr.)

Sureseal, INDIA

(FY-22 revenue of Sureseal products ₹ 13 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 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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Jash Fabricated Products Plant Unit-2

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PRODUCTS OVERVIEW

10

PRODUCT AT A GLANCE

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.Water Control Gates
Penstocks / Sluice Gates
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Open Channel Gates Downward Opening Weir Gates Flap Gates Stop Logs
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. Heavy Fabricated Gates Bulk Head Slide Roller Gates Butterfly Gates Crest Gates Radial / Tainter Gates Bonneted Gates Gates

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PRODUCT AT A GLANCE

. Coarse Screening Equipment

Trash Rack Jash MMR Screen “JMR” Multi-rake Screen Jash Back Rake Screen Suspended Trash Rack

.Fine Screening Equipment Rotoclean Rotary Rotobrush Rotary Screenmat Step Screen Drum Screen Screen Mahr Perscalator Screen Travelling Band Screen

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PRODUCT AT A GLANCE

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Screening Conveying Equipment.
Belt Conveyor Screw Conveyor Screw Conveyor
Jet Breaker Washer Compactor
with wash compactor
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PRODUCT AT A GLANCE

Knife Gate Valves .

“ZFI” Series “MONO” Series Knife Gate Valve Knife Gate Valve

. Special Purpose Valves

Zero Velocity Valve Air Cushion Valve Energy Dissipating Valve

. Bulk Solid Handling Valve

Slide Gate Valve – Swing Gate Valve – Version ZFB Version KU

Double Flap Valve – Version DFG

Fabricated Slide Slide Gate ValveGate Valve-VEG ZFS

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PRODUCT AT A GLANCE

. Process Equipment

Detritor Slow speed floating aerator

. Hydro Power Equipment

Hydropower Screw Generator

Clarifier

. Screw Pumps

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Archimedean Screw Pump
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Clarifloculator Slow speed
fixed aerator
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. Filtering Equipment

i FILT® Diamond Disc Filter

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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 (FY22)

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Water Control Gates
50%
Revenue Contribution
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Valves
14%
Revenue Contribution
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Screening Equipment 25% Revenue Contribution

Hydropower & Pumping , Process Equipment and others 11% 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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CLIENTS & CONSULTANTS - INDIA

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KEY CONSULTANT
CONTRACTORS
KHILARI
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CLIENTS & CONSULTANTS - INTERNATIONAL

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KEY CONSULTANT
CONTRACTORS
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2020

Mahr Maschinenbau

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)
₹ 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% 14.1%
54.5
11.6%
45.9
52.8
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

26

CONSOLIDATED ORDER BOOK AS ON 1[st] May 2022

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Shivpad Engineering
With In India Outside India Engineering & Manufacturing
Pvt Ltd Jash Ltd
₹ 371 cr ₹ 13.69 cr ₹ 1 cr
₹ 145 cr
Domestic & Subsidiaries
order book Combined Export USA IncJash
stood at
₹ 516 cr ₹ 194 cr
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CONSOLIDATED ORDER PIPE LINE AS ON 1st May 2022

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Within India Outside India Within India Outside India
₹ 4 cr ₹ 12 cr ₹ 34.52 cr ₹ 36.97 cr
ALREADY UNDER
NEGOTIATED NEGOTIATION
Combined Combined
₹ 16 cr ₹ 71.49 cr
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Orders already negotiated with clients by 1st May 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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OTHER DEVELOPMENTS

1. Rodney Hunt has turned the corner and has become profitable. Henceforth we expect continuous improvements in its performance.

2. Rodney Hunt grew by 27% with revenue of USD 17.8 million and is now within first 4 in water control gates business in USA.

3. Laser cutting machine has been commissioned at Orange manufacturing facility in end May 2022 and this will enable faster production, higher total output and significantly lower outsourcing costs in year 2022.

4. Pending orders as of end May 2022 is in excess of 28.4 million dollars thereby allowing us to target revenue of USD 23 million for 2022-23.

5. Orange manufacturing facility on independent basis to become profitable in 2022-23 with manufacturing revenue in excess of USD 8 million dollars thereby improving overall profitability of Rodney Hunt in 2022-23.

6. To sell excess land of Rodney Hunt, a proposal has been given to Orange town committee to create 66 homes - 31 with riverfront access and 35 without riverfront access. If this is accepted by the town of Orange then this should enable Rodney Hunt to clear significant liabilities of JEL within next 2 years, upgrade facilities in Orange plant and establish a new plant in Houston as well. Even after this land is sold , Rodney Hunt will still be left with a 60,000 sq feet built up area for plant and about 10 acres of excess land also with river front access.

7. Rodney Hunt has finally been able to get banking facilities of 1.5 million dollars. This will now enable it to give financial bonds on smaller orders which were being lost due to our inability to provide such bonds.

8. Efforts are being made to further enhance the banking facilities so that we can provide bond for larger sized orders as well. Now that the company is profitable we expect that our request for bonding limits will be favorably looked into.

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Mahr Maschinenbau

OTHER DEVELOPMENTS

9. 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 by 2023 so as to be in a position to scale up its revenue in future. The work on this plant will be started in Oct 2022 with completion by Oct 2023 at an approximate cost of Rs. 12 crores including cost of land.

10. 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.

11. New agreement with Invent was signed in April 2022 for Aeration and Mixing Products. Commercial production will commence within the financial year 2023-24.

12. The work on building a new stainless steel products plant at Unit 2 will be taken up in Oct 2022. This plant will be built by Oct 2023 at a cost of approx. Rs. 11 crores.

13. Improving prospects in Indian Market on account of positive progress in new projects of MCGM, Bangalore and Pune city. These projects are cumulatively worth over Rs. 20,000 crores thereby assuring good growth in domestic market for next 4 years.

14. Record consolidated pending order position of Rs. 516 crores in May 2022 leading to another year of significant growth enabling company to target consolidated revenue in excess of Rs. 430 crores for year 2022-23.

15. SBI has finally returned back shares pledged by the promoter for a loan taken for expansion of the company.

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Mahr Maschinenbau

MANAGEMENT COMMENTARY

Mr. Pratik Patel

Managing Director

“ We maintained a strong growth momentum, on the strength of a healthy order book with consolidated revenue growth of 23.6% and PAT growth of 4.3% . However because of substantial rise in cost of raw materials, bought outs and freight costs, our profit margin has been impacted. We could not do much about this since most of the orders were taken before the price rise took place.

In the current year we are quite optimistic about improving the profitability as many of the orders under execution now are taken with increased raw materials price. Also we expect substantial addition to profits from continuing improvement in operations of Rodney Hunt as well as due to over 15% growth in revenue expected this year backed by a robust consolidated order book position of ₹516 crores.

We remain confident of positive performance going forward on the back of robust demand environment for our products domestically and globally. Our order book continues to remain healthy led by strong external demand for our products globally and going forward we expect the growth momentum to continue.”

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Mahr Maschinenbau

SHAREHOLDERS INFORMATION

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STOCK DATA
(As on 27 [th] May 2022)
Symbol (NSE)
JASH
Market
Shares
Outstanding ₹ Capitalization
(₹Cr)
1.19 Cr
772.3
Stock Price (₹)
648.95
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SHAREHOLDING PATTERN
Employee Trusts
0.9%
Public Promoters
(As on 31 [st]
47% March 2022) 53%
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Mahr Maschinenbau

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THANK YOU

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For further information, contact:

Siddesh Chawan

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

Ernst & Young LLP/ Investor Relations E-mail: Siddesh.Chawan@in.ey.com Ph.: +91 022 6192 0000

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

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