JASH ENGINEERING LIMITED — Investor Presentation 2023

Nov 3, 2023

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JASH ENGINEERING LTD.

Contributing to a sustainable environment…….Worldwide !

Investor Presentation

Q2FY24, November 2023

Shivpad Engineers Pvt Ltd

Mahr Maschinenbau

Disclaimer

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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 and projections.

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1 Company Overview

2 Product Overview

3 Financial Overview

4 Business Outlook

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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 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, Desalination, Power, Steel, Cement, Paper & Pulp, Petrochemicals, Chemicals, Fertilizers and other process plants.

• Headquartered in Indore – India, Jash has five well-integrated state-of-art manufacturing facilities, four in India and one in the 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 worldwide for all time to come.

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Incorporation
1973
of Company
Countries
5 [Manufacturing units] 45+
Global exports
Years of cumulative
~ Employees
950 350+
experience
Consolidated
Approved by Major
415 Cr. Sales 2022-23
Municipal Authorities in India and Abroad
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Evolution of the company

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Biggest Water Control gates company of India Established UNIT-3 of
Expanded Screen manufacturing Technical collaboration with
& converted into public limited company. 50,000 Sqft. At SEZ
facility and became largest Weco Armaturen, Germany to
Schuette, Germany for Bulk solids valvesTechnical & Financial collaboration with manufacturer of fine screen in India offer its range of Valves in Pithampur for Valves & Gates
Asian market
Acquisition of Sureseal
Formation of First company to introduce fine screen in India in Technical New facility to manufacture bulk to add Water Hammer
Jash Engineering Pvt Ltd collaboration with Hollung, Sweden solids handling valves control valve range
1973 1996 2000 2005 2006 2008 2009 2010
2023 20192019 2018 2017 2016 2014 2012 2011
Joint Venture with Invent ,
Germany to manufacture Established plant of 60,000 sqft Acquisition of Established UNIT-2 of 150,000 Sqft. For
their range of aeration and at Orange Massachusetts, USA Rodney Hunt Brand Fabricated products.
mixing equipment. for Fabricated products. in USA Technical collaboration with Mahr
Maschinenbau , Austria for various Screens
Acquired Waterfront Company listed on National
Established UNIT-4 of
Fluid Controls Ltd, UK 50,000 Sqft at SEZ for Stock Exchange (NSE) Acquisition of Technical collaboration with Rehart,
Mahr Maschinenbau, Austria
Fabricated products. Germany for Archimedes screw
Technical Collaboration pumps & hydro power generation.
with Invent, Germany for Acquisition of Shivpad to add
Disc Filters Process Equipment range
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Evolution Through Acquisition

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Waterfront Fluid Controls Ltd, UK (FY-23 revenue ₹ 28 Cr) (Acquisition value GBP 2 million.)

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To seize the opportunity presented by closure of Hambaker and become the largest Water Control Gates company in UK using Waterfront local presence.

Rodney Hunt Inc., USA (FY-23 revenue ₹ 163.9 Cr.) (Acquired at US$ 4 million)

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To add world renowned brand and get access into north American market of water control gates. To get access to top representatives in states so that they can help in selling screens & knife gate valves.

Mahr Maschinenbau GmbH,AUSTRIA (FY-23 revenue of Mahr products ₹ 28.7 Cr.) (Acquired at Euro 2 million.)

To add world renowned Screening technology and brand so that these could be leveraged in export market and help push gates and screens as a package

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Shivpad Engineers Pvt. Ltd, INDIA (FY-23 revenue of Process Equip ₹ 27.2 Cr.) (Acquired at ₹ 6 Cr.)

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To add treatment process equipment and increase the package size of products offered in a particular project.

Sureseal, INDIA

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To add niche products of water hammer control in the water conveyance cycle where company had no presence in India.

(FY-23 revenue of Sureseal products ₹ 13.1 Cr.) (Acquired at ₹ 1Cr.)

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State of Art Facilities & Turnover Capability

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Total Turnover Potential from existing facility

₹ 600+ Cr

UNIT-1 CAST PRODUCTS PLANT

UNIT-2 FABRICATED PRODUCTS PLANT

UNIT-3 SEZ PLANT

Built Up Area: 125,000 Sq. ft. Turnover Capability : ₹ 75 Crore

Built Up Area: 185,000 Sq. ft. Turnover Capability : ₹ 250 Crore

Built Up Area: 75,000 Sq. ft. Turnover Capability : ₹ 100 Crore

UNIT-4 Rodney Hunt Plant

UNIT-1 CAST PRODUCTS PLANTRodney Hunt lant, Orange, MA USA

Built Up Area: 50,000 Sq. ft.. Turnover Capability : ₹ 100 Crore

Built Up Area: 60,000 Sq. ft.

Turnover Capability : USD 10 Million (₹ 80 Crore)

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Plant Capabilities

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Bend & shear Shot blasting of carbon
Physical & Chemical stainless steel up to steel up to 5000 x 4000 x
testing of material 14 mm thick 20000mm
Machine job with
maximum size of upto Bath pickle
10,000 x 4000 x stainless steel jobs Flight Forming
Positive Material 1000 mm on CNC up to 6000 x 2000 x Machine for 5000
Identification Machines 2000mm size mm diameter
Casting weighing up Fabricating Laser Cutting
to 20,000 kgs. capacity for jobs Machine for plates
up to 50 tonnes upto 16 mm thick
weight
Water jet Cutting of stainless Hydro-test sluice gates Flight welding machine
steel plates upto up to 5000 x 3500mm size for 4500 mm diameter x
100 mm thick and valves up to 3000mm 24,000 mm length
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Products Overview

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Product at a Glance

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Coarse Screening Fine Screening
Water intake Systems Heavy Fabricated Gates
Equipment Equipment
Penstocks / Open Channel Bulk Head Slide Roller Gates Trash Rack Jash MMR Screenmat Step Rotoclean Rotary
Sluice Gates Gates Gates Screen Screen Drum Screen
Downward Opening Flap Gates Butterfly Gates Crest Gates “JMR” Multi-rake Jash Back Rake Rotobrush Rotary Mahr Perscalator
Weir Gates Screen Screen Screen Screen
Stop Logs Radial / Tainter Bonneted Gates Suspended Trash Travelling Band
Gates Rack Screen
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Product at a Glance

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Screening Conveying Heavy Fabricated Gates Knife Gate Valves Bulk Solid Handling
Equipment Valve
Belt Conveyor Screw Conveyor Trash Rack “MONO” Series Slide Gate Valve Swing Gate Valve
Knife Gate Valve – Version ZFB – Version KU
Special Purpose Valves
Screw Conveyor Jet Breaker Double Flap Valve Fabricated Slide
with wash Washer – Version DFG Gate Valve-VEG
compactor Compactor
Zero Velocity Valve Air Vessel
Slide Gate Valve-
Air Cushion Valve Energy Dissipating ZFS
Valve
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Product at a Glance

Process Equipment Heavy Fabricated Gates Detritor Slow speed floating aerator

Clarifier

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Screw Pumps
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Hydro Power Equipment Hydropower Screw Generator

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Heavy Fabricated Gates
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Archimedean Screw Pump

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Clarifloculator

Slow speed fixed aerator

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Filtering Equipment
iFILT® Diamond Disc Filter
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Product at a Glance

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Secondary Treatment Equipment

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Diffuser Aeration

Mixing & Aeration Equipment Decanting Equipment

Turbo Blower

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Application Of Products

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Storm water pumping
Water intake systems
stations
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Paper & pulp plants
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Power plants

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Water & waste water
treatment plants
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Petrochemical plants

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Irrigation systems
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Steel plants

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Product Offerings With Revenue Contribution (Q2FY24)

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Water Control Gates
60%
58%
Revenue Contribution
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Valves
17%
8%
Revenue Contribution
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Screening Equipment
17%
27%
Revenue Contribution
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Hydropower & Pumping ,
Process Equipment and
others
9%
8%
Revenue Contribution
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Making The World Our Market

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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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EUROPE Sweden
& AFRICA Norway INDIA
Canada
H1 FY24 United Kingdom H1 FY24
Austria
4.23 75.70
USA France
Bahrain
Kuwait Hong Kong
Jordan UAE
India
Thailand
Qatar
Oman Philippines
Malaysia Vietnam
Singapore
USA MIDDLE
FAR &
H1 FY24 EAST SOUTHEAST ASIA
H1 FY24
59.05 H1 FY24
2.13
18.23
Within India Outside India Total
Revenue from Operations 75.70 83.64 159.34
H1 FY24 (₹ Cr)
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Acquisitions Manufacturing & Marketing Offices

Subsidiary Regional Business Associates

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Clients & Consultants - India

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Clients & Consultants - International

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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)
115.9 ₹ 58.8 / $7.1
105.3
9.8
₹ 34.6 / $ 4.2
4.5
H1FY23 H1FY24 H1FY23 H1FY24
H1FY23 H1FY24
PAT (₹Cr)
PAT (₹Cr) PAT (₹Cr/ US$ Mn)
18.5
10.2
1.5
H1FY23 H1FY24
0.1
H1FY23 H1FY24 H1FY23 H1FY24
₹ -3.4 / $ -0.4
₹ -15.3 / $ -1.8
includes other income.
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Consolidated Financial Snapshot

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Revenues (₹Cr) Gross Profit (₹Cr) & Margin (%) EBITDA (₹Cr) & Margin (%)
9.8% 10.0%
66.0%
62.4%
161.9
123.1
101.4 16.2
81.3
12.1
H1FY23 H1FY24
H1FY23 H1FY24 H1FY23 H1FY24
Profit Before Tax (₹Cr) Profit After Tax (₹Cr)
6.1
5.2
2.7
1.5
H1FY23 H1FY24 H1FY23 H1FY24
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• includes other income.

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Consolidated Income Statement

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Particulars (₹ Cr)	Q2FY24	Q1FY24	Q2FY23	H1FY24	H1FY23
Total Income	96.5	65.5	74.8	161.9	123.1
Total Expenses	86.7	69.3	67.9	155.9	120.4
EBITDA	15.5	0.9	11.6	16.4	12.1
EBITDA Margin (%)	16.1%	1.4%	15.5%	10.1%	9.8%
Finance Cost (Net)	3.0	2.0	2.3	5.0	4.3
Depreciation	2.7	2.7	2.6	5.4	5.0
PBT	9.9	-3.8	6.7	6.1	2.7
Tax	1.2	-0.4	1.1	0.8	1.2
PAT	8.6	-3.4	5.6	5.2	1.5
PAT Margins (%)	9.0%	-5.1%	7.6	3.3%	1.2%
EPS (₹)	7.2	-2.8	4.7	4.4	1.2

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Consolidated Balance Sheet

Particulars(₹ Cr)	H1FY24	FY23
Equity & Liabilities
Shareholder's Funds
Share Capital	12.0	12.0
Other Equity	231.5	226.7
Total Shareholder's Fund	243.5	238.7
Non-Current Liabilities
Long-Term Borrowings	10.9	13.7
Provisions	6.0	3.3
Deferred Tax Liabilities(Net)	-	-
Other Non-Current Liabilities	1.0	1.1
Total Non Current Liabilities	17.9	18.1
Current Liabilities
Short-Term Borrowings	69.0	68.2
Trade Payables	55.6	58.8
Other Financial Liabilities	10.1	8.1
Other Current Liabilities	74.7	49.9
Provisions	2.1	4.0
Current Tax Liabilities(Net)	0.4	2.7
Total Current Liabilities	211.9	191.7
TOTAL - EQUITY AND LIABILITIES	473.3	448.5

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Particulars(₹ Cr)	H1FY24	FY23
ASSETS
Non-Current Assets
Property,Plant & Equipment	84.4	86.1
Capital Work in Progress	7.3	3.5
Intangible Assets	7.6	8.3
Intangible Assets Under Development
Goodwill on Consolidation	21.4	21.7
Financial Assets	0.2	0.2
Non-Current Assets	4.9	1.0
Deferred Tax Assets(Net)	10.0	8.8
Other Non Current Assets	2.6	2.9
Total Non Current Assets	138.4	132.5

Current Assets

Current Assets
Inventories	168.5	111.9
Investments	0.0	0.0
Trade Receivables	103.1	156.0
Cash and Cash Equivalents	14.2	8.9
Other Bank Balances	27.9	24.6
Loans	0.0	0.0
Other Financial Assets	0.3	0.5
Other Current Assets	12.2	5.5
Total Current Assets	326.2	307.4
Asset Classified as held for sale	8.7	8.6
TOTAL - ASSETS	473.3	448.5

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Business Outlook

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Consolidated Order Book as on 1st November 2023

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Jash Engineering Ltd Within India
₹ 431 Cr ₹ 240 Cr
Jash USA / Rodney Hunt
Outside India
₹ 378 Cr
₹597 Cr
Combined order book stood at
Shivpad Engineering Pvt Ltd
₹ 28 Cr ₹ 837 Cr
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Consolidated Order Pipe Line as on 1st November 2023

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ALREADY NEGOTIATED UNDER NEGOTIATION
Within India Within India
₹ 16 Cr ₹ 20 Cr
Outside India
Outside India
₹ 13 Cr
₹ 04 Cr
Combined
Combined
₹ 24 Cr
₹ 29 Cr
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Consolidated Sales Outlook for FY 23-24

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Jash Engineering Ltd
Within India
₹ 345 Cr
₹ 220 Cr
(Achieved ₹111.93 crore in H1FY24)
Jash USA / Rodney Hunt
Outside India
₹ 200 Cr
₹ 295 Cr
(Achieved ₹58.12 crore in H1FY24)
Combined
Shivpad Engineering Pvt Ltd
₹ 30 Cr ₹ 515 Cr
(Achieved ₹ 4.30 crore in H1FY24)
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Combined consolidated sales is arrived at after deducting inter-company sales.

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Other Developments

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• The new SS Fabricated products plant was inaugurated on 30Th Sept at Unit-2. This plant will go into production in November end and will enhance capability of Unit 2 significantly.

• The extension to head office building was completed in September and this will allow accommodation of about 40 people in future thereby ensuring the for next 5 years we will not run short of space.

• Jash Invent JV company was operationalized in September and the first order for Invent products was also received in October.

• Public Canteen for Industrial area, green area comprising dense forest and ground water recharge facility in form of a 1 acre lake is developed by the company under CSR activity of the company at Sector-C, Sanwer road opposite Unit -1 and this facility will be inaugurated in end Nov 2023.

• At Unit-2 a new 10-tonne capacity crane and 5 tonne capacity crane for Bay 2 and 4 respectively was delivered and commissioned in early October 2023. Work on strengthening the steel columns and crane gantry for new cranes of higher capacity in Bay 3 is expected to be completed by early December 2023 and a new 30-tonne capacity crane for this bay will be commissioned by end December 2023. These investments will significantly enhance efficiency and output of Unit-2.

• The commencement of construction for the new plant for Shivpad at Chennai has begun in August 2023 and we anticipate the new plant to be operational by September 2024.

• The company is planning to raise funds to the tune of Rs. 80 crores from new investors in the Dec 2023-March 2024 period. These funds will be used for Bonding facility required by Rodney Hunt in US, building new plant for Rodney Hunt in Houston, acquisition of Waterfront, UK and investment in increasing manufacturing capability of Waterfront etc.

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Management Commentary

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Mr. Pratik Patel

Managing Director

“ The first-half results for H1FY24 show an optimistic trend. During this period we achieved a remarkable growth in income from operations of 31% by reaching ₹161.9 crores. The US business has also grown by approx. 70% and the losses has come down significantly. We expect improvements in US operations to continue and achieve growth in income in excess of 30% for the entire year. The overall results indicate strong financial performance and suggest that our business is on a positive trajectory for the fiscal year. ”

Our order book remains strong at Rs. 837 crores, reflecting the robust global demand for our products. We are optimistic about achieving our projected revenue and enhancing profitability, both on a standalone as well as consolidated basis.

We continue to witness strong demand for our products worldwide that reinstates our expertise , quality & leadership in the market. The acquisition of Waterfront in UK and new product development through joint venture with Invent, Germany will significantly open up new avenues for future growth thereby making us a fast growing profitable company !

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Shareholders Information

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STOCK DATA

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(As on 31 [st] October 2023)
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NSE Symbol Market
JASH Capitalization
INR 1,655 Crore
Shares
Stock Price
Outstanding
INR 1,379
INR 1.20 Crore
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SHAREHOLDING PATTERN

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(As on 30 [th] September 2023)
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Promoters

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Public
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47.4%
1.6%
Employee
Trusts
(231 Employees)
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THANK YOU

FOR MORE INFORMATION, CONTACT

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

Siddesh Chawan

Ernst & Young LLP/ Investor Relations E-mail: Siddesh.Chawan@in.ey.com Ph.: +91 99302 35001

RODNEYHUNT INC

JASH ENGINEERING LTD

JASH USA INC

46 Mill Street,

31, Sector-C, Industrial Area, Sanwer Road, Indore, INDIA.

6200 Savoy Dr Ste 750, Houston, TX 77036 USA Ph. No. (281) 9626369, Email: sales@jashusa.com Website: www.jashusa.com

Orange, MA 01364, USA Ph. No. (978) 6334362, Email: orange@rodneyhunt.com Website:www.rodneyhunt.com

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

MAHR MASCHINENBAUGMBH

SHIVPAD ENGINEERS PVTLTD.

E&M JASHLTD.

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Mahr Maschinenbau

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Kupferschmiedgass 8, A-2201 Hagenbrunn, AUSTRIA

Ph. No. +4322463521 Email:office@mahr.at Website: www.mahrmaschinenbau.com

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

905, SilvercordTower2, 30 Canton Road, Tsimshatsui, Kowloon,

HONGKONG

Ph. No. +852 23753180 Email: office@eand ~~3~~ m ~~1~~ jash.com Website: www.e ~~andmj~~ ash.com