Jash Engineering Ltd

- Jash Engineering is not planning significant fundraising through equity or large debt at present. - For the US expansion, they plan around $6-6.5 million capex, of which $4 million was raised previously. - They may need an additional $2 million approximately for the US facility, for which American banks are likely to provide loans. - Overall capex for the US expansion is estimated at Rs.36-40 crore. - They also require around Rs.40 crore for acquisitions. - The company currently has Rs.10 crore debt and may take minor additional debt of Rs.15-20 crore depending on tariff and market conditions. - Internal accruals are expected to largely fund expansions if the tariff situation stabilizes, potentially reducing the extent of new debt needed.

- Planned capex of approximately Rs. 36-40 crore for the US plant expansion, particularly the new Houston facility. - Additional Rs. 40 crore planned for acquisitions, including WesTech (90% stake) and another UK-based company. - Minor debt of around Rs. 15-20 crore may be taken depending on tariff stability; current company debt is Rs. 10 crore. - Total capex guidance for the year is close to Rs. 40 crore. - Houston facility construction expected to start by January-February 2026, with a 9-month commissioning timeline for completion within 2026. - Expansion at Orange facility in the US is ongoing alongside Houston to increase production capacity. - Building teams for scaling up operations targeting Rs. 1000-1100 crore revenue capacity before aggressively taking orders. - Acquisition-driven synergy to enhance product offerings and market presence in US and UK.

- The company targets consolidated revenue of around Rs.860 crore for FY26, maintaining a conservative guidance with expectations to possibly exceed this figure. - Current production capacity including ongoing expansions is about Rs.1000 crore; with US expansion, capacity may increase to Rs.1300–1500 crore. - By end of FY26 (March 2026), the target order book is around Rs.1100 crore, representing about 13-15 months of order backlog. - Order intake growth slowed in exports, particularly US, due to capacity constraints and high tariffs; expansions (Houston plant) are underway to mitigate this. - The US plant is expected to start full production within 2026, helping to address capacity bottlenecks. - New markets such as Vietnam, Japan, Israel, and South Africa are being explored for further growth. - Disc filters orders are expected to contribute from Q2-Q3 FY26, adding to future sales.

- Jash Engineering expects consolidated revenue of around Rs. 860 crore for FY26, maintaining previous guidance. - Profit after tax (PAT) forecast ranges between Rs. 80-110 crore, with uncertainty due to US tariff impacts. - Tariff volatility in the US poses risk to profitability, with potential $1-2 million hit if 50% tariff continues. - Order book targets Rs. 1,100 crore by March 2026, reflecting 10-14 months of order visibility relative to capacity. - Capacity expansions in India and the US aim to raise production capacity from Rs. 1,000 crore to Rs. 1,300-1,500 crore. - New market expansions (Vietnam, Japan, Israel, South Africa) expected to drive future order growth. - Acquisitions (WesTech and UK company) and US plant expansion intended to mitigate tariff risks and support profitability. - The company plans cautious order intake in the US until tariff stability improves to protect margins.

- Consolidated order book as of August 1, 2025, stands at Rs. 875 crore: - Outside India: Rs. 574 crore - Within India: Rs. 301 crore - Standalone Jash Engineering order book: Rs. 500 crore - Waterfront UK order book: Rs. 9 crore - Strong pipeline with Rs. 28 crore orders negotiated and Rs. 56 crore under negotiation - Target to maintain 10-14 months of order book based on production capacity (~Rs. 1100 crore by March 31, 2026) - New orders factored with tariff impacts, current caution in US order intake due to tariff uncertainties and capacity constraints - Expansion plans ongoing, with capacity building in US (Houston) and India to handle future orders