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JASH ENGINEERING LIMITED — Investor Presentation 2024
Feb 5, 2024
59194_rns_2024-02-05_fd938c7e-327d-4bba-ab11-048b6b6e99cd.pdf
Investor Presentation
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JASH ENGINEERING LTD.
Contributing to a sustainable environment…….Worldwide !
Investor Presentation
Q3FY24, February 2024
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 andprojections.
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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.
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Headquartered in Indore – India, Jash has five well-integrated state-of-art manufacturing facilities, four in India and one in the USA.
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Global presence with bases in India / USA / Austria / Hong Kong to serve our clients and help achieve the common goal of
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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 Authoritiesin India andAbroad
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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) (80% 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.)
To add treatment process equipment and increase the package size of products offered in a particular project.
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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
₹ 700+ 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 : ₹ 300 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 15 Million (₹ 125 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
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Process Equipment Heavy Fabricated Gates
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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
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
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 (9M FY24)
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Water Control Gates Screening Equipment
15%
60%
61%
27%
Revenue Contribution Revenue Contribution
Hydropower & Pumping ,
Valves Process Equipment and
others
9%
17%
8%
7%
Revenue Contribution Revenue Contribution
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Valves
17%
8%
Revenue Contribution
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Hydropower & Pumping ,
Process Equipment and
others
9%
7%
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
9M FY24 United Kingdom 9M FY24
Austria
5.04 117.17
USA France
Bahrain
Kuwait Hong Kong
Jordan UAE
India
Thailand
Qatar
Oman Philippines
Malaysia Vietnam
Singapore
USA MIDDLE
FAR &
9M FY24 EAST SOUTHEAST ASIA
9M FY24
126.05 9M FY24
4.91
45.33
Within India Outside India Total
Revenue from Operations 117.17 181.33 298.50
9M FY24 (₹ Cr)
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Acquisitions Manufacturing & MarketingOffices
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)
211.7
₹ 125.7/ $15.1
168.9 15.9 ₹ 98.1 / $ 11.8
7.2
9MFY23 9MFY24 9MFY23 9MFY24
9MFY23 9MFY24
PAT (₹Cr)
PAT (₹Cr) PAT (₹Cr/ US$ Mn)
27.5
22.0
2.8
0.2 ₹ 4.2/ $ 0.5
9MFY23
9MFY23 9MFY24 9MFY23 9MFY24
9MFY24
₹ -4.2 / $ -0.5
includes other income.
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Consolidated Financial Snapshot
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303.2
241.3
9MFY23 9MFY24
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Gross Profit (₹Cr) & Margin (%) EBITDA (₹Cr) & Margin (%)
50.4
185.0
36.3
16.6%
145.6
61.0% 15.0%
60.3%
9MFY23 9MFY24
9MFY23 9MFY24
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Profit Before Tax (₹Cr)
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Profit After Tax (₹Cr)
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27.8
34.4
18.5
21.2
9MFY23 9MFY24 9MFY23 9MFY24
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- includes other income.
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Consolidated Income Statement
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| Particulars (₹ Cr) | Q3FY24 | Q2FY24 | Q3FY23 | 9MFY24 | 9MFY23 |
|---|---|---|---|---|---|
| Total Income | 141.3 | 96.5 | 118.2 | 303.2 | 241.3 |
| Total Expenses | 113.1 | 86.5 | 99.7 | 268.9 | 220.0 |
| EBITDA | 33.9 | 15.6 | 24.2 | 50.4 | 36.3 |
| EBITDA Margin (%) | 24.0% | 16.2% | 20.5% | 16.6% | 15.0% |
| Finance Cost (Net) | 3.1 | 3.0 | 3.0 | 8.0 | 7.3 |
| Depreciation | 2.6 | 2.7 | 2.7 | 7.9 | 7.7 |
| PBT | 28.2 | 9.9 | 18.5 | 34.4 | 21.2 |
| Tax | 5.6 | 1.4 | 1.5 | 6.6 | 2.8 |
| PAT | 22.6 | 8.5 | 17.0 | 27.8 | 18.5 |
| PAT Margins (%) | 16.0% | 9.0% | 14.4% | 9.2% | 7.7% |
| EPS (₹) | 18.8 | 7.1 | 14.2 | 23.1 | 15.5 |
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Business Outlook
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Consolidated Order Book as on 1st February 2024
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Jash Engineering Ltd Within India
₹ 440 Cr ₹ 268 Cr
Jash USA / Rodney Hunt
Outside India
₹ 380 Cr
₹583 Cr
Combined order book stood at
Shivpad Engineering Pvt Ltd
₹ 31 Cr ₹ 851 Cr
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Consolidated Order Pipeline as on 1st February 2024
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ALREADY NEGOTIATED UNDER NEGOTIATION
Within India Within India
₹ 25 Cr ₹ 32 Cr
Outside India
Outside India
₹ 28 Cr
₹ 02 Cr
Combined
Combined
₹ 34 Cr
₹ 53 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 ₹206.06 crore in 9MFY24)
Jash USA / Rodney Hunt
Outside India
₹ 200 Cr
₹ 295 Cr
(Achieved ₹124.05 crore in 9MFY24)
Combined
Shivpad Engineering Pvt Ltd
₹ 30 Cr ₹ 515 Cr
(Achieved ₹ 6.87 crore in 9MFY24)
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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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Rodney Hunt has become profitable in the third quarter and is expected to exceed its targeted revenue of US$ 26 Million and achieve good profitability in current financial year. This will enable it to reduce its accumulated losses significantly and turn positive by the first half of the next financial year.
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The company will raise Rs. 42 crores by issue of preferential share to new Investors and warrants to promoter and key employees in Feb-2024. These funds will be used for Bonding facility required by Rodney Hunt in US, building new facilities for Rodney Hunt in Houston & Orange and general purpose corpus.
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The company has applied for new plot of 2.75 acres at a cost of ~ Rs. 2 crores opposite to Unit 4 at SEZ Pithampur for expanding manufacturing capabilities of Unit 4.
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All the formalities for acquisition of Waterfront UK has been completed and final approvals are expected from RBI in the month of Feb 2024. We expect to complete the transaction by March 2024 so that from 1[st] April 2024 Waterfront, UK will become a subsidiary company of Jash Engineering Ltd., India.
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The process of re-organization of Waterfront has been started by our COO with his visit to UK in Jan 2024. All decision pertaining to plant expansion were taken and we plan to inaugurate the expanded facilities by June 2024.
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Management Commentary
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Mr. Pratik Patel
Managing Director
“We are delighted to announce robust growth for the current quarter. Our revenue from operations increased by 28% to ₹298.50 crores in the first nine months of FY24, and our EBIDTA experienced a remarkable year-on-year (YoY) growth of 39%, reaching ₹50.4 crores.
Our consolidated order book remains robust with total pending order as of 1[st] Feb 2024 being ₹851 crores of which ₹583 crores are for projects outside India. We have a strong order pipeline and expect to have order book in excess of ₹ 800 crores at the end of this financial year.
We maintain a positive outlook on achieving the projected consolidated revenue of ₹515 crores and enhancing profitability significantly in comparison to last year.”
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Shareholders Information
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STOCK DATA
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(As on 24 [th] January 2024)
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NSE Symbol Market
JASH Capitalization
INR 2,100 Crore
Shares
Stock Price
Outstanding
INR 1,750
INR 1.20 Crore
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SHAREHOLDING PATTERN
(As on 31[st ] December 2023)
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: [email protected] Ph.:0731-6732700, 0731-2720143
Siddesh Chawan
Ernst & Young LLP/ Investor Relations E-mail: [email protected] Ph.: +91 99302 35001
RODNEY HUNT INC
JASH ENGINEERING LTD
JASH USA INC
46 Mill Street, Orange, MA 01364, USA Ph. No. (978) 633 4362, Email: [email protected] Website: www.rodneyhunt.com
31, Sector-C, IndustrialArea, Sanwer Road, Indore, INDIA.
6200 Savoy Dr Ste 750, Houston, TX 77036 USA Ph. No. (281) 962 6369, Email: [email protected] Website: www.jashusa.com
Ph. No. +91-731-2720143,2720034 Email: [email protected] Website: www.jashindia.com
MAHR MASCHINENBAU GMBH
SHIVPAD ENGINEERS PVT LTD.
E&M JASH LTD.
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Mahr Maschinenbau
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Kupferschmiedgass 8, A-2201 Hagenbrunn, AUSTRIA
Ph. No. +432246 3521 Email: [email protected] 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 6201/4860 6203 Email: [email protected] Website: www.shivpad.com
905, Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon,
HONG KONG
Ph. No. +852 2375 3180 Email: office@eand ~~3~~ m ~~1~~ jash.com Website: www.e ~~andmj~~ ash.com