Jash Engineering Ltd.

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jashindia.comBSE: 544402NSE: JASH

Market Cap₹ 2,939 Cr.

Current Price

High / Low₹ 573 / 327

Stock P/E38.6

Book Value₹ 77

Price to Book9.44

Dividend Yield0.21 %

ROCE22.3 %

ROE19.4 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2016 • Gates: 37.9% • Screening equipment: 33.6% • Valves and Valves components: 23.7%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 25.9% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 20.3%
Latest quarter profit grew 222.6% YoY, showing strong momentum
Company has delivered good sales growth of 18.2% CAGR over last 5 years
Operating margins have improved to 19.7% from 16.6%

CONS

Stock is trading at 9.4x its book value
Rich enterprise valuation - EV/EBITDA of 35.6x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BHEL	432.80	61.95	150703.70	0.32	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	922.60	85.51	45620.81	0.64	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3729.70	74.90	44441.73	0.54	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	KIRLOSENG	2267.40	60.41	32995.17	0.31	1110.60	699.45	19995.30	1034.94	14.46	15.02
5.	JYOTICNC	1026.55	72.57	23346.12	0.00	57.14	-19.99	508.47	23.97	23.88	21.40
6.	INOXINDIA	2180.15	77.65	19787.80	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	TRITURBINE	572.05	54.07	18185.38	0.74	51.10	-20.65	442.70	19.23	35.95	11.59
8.	AZAD	2765.75	128.52	17861.70	0.00	35.16	19.46	172.60	25.90	12.28	37.29
9.	LLOYDSENGG	84.88	58.86	13165.22	0.29	68.23	-77.28	527.15	142.92	17.99	15.04
10.	TEGA	1552.65	552.07	11664.70	0.13	-108.25	-406.36	1723.44	383.99	8.37	3.27
11.	KENNAMET	4534.30	85.10	9965.59	0.00	31.50	11.31	267.30	12.55	18.99	17.51
12.	JASH	465.15	34.13	2939.46	0.21	5.09	198.41	149.88	17.45	25.75	5.41

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	42	70	94	139	91	105	103	194	77	114	97	190	98
	36	60	71	109	76	76	79	163	72	89	80	149	86
Operating Profit	6	10	24	30	15	29	23	31	5	25	17	41	12
OPM %	14.10%	13.95%	25.08%	21.71%	16.04%	27.65%	22.91%	15.98%	6.17%	22.09%	17.67%	21.71%	12.02%
	1	3	2	2	1	4	1	3	5	2	4	4	5
Interest	2	3	3	2	2	2	3	3	2	2	3	3	2
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	2
Profit before Tax	3	8	21	28	12	28	20	29	6	22	17	41	17
Tax %	26.38%	6.73%	17.41%	17.63%	17.25%	17.61%	16.24%	23.99%	24.95%	22.54%	15.66%	23.65%	21.23%
Net Profit	2	8	17	23	10	23	17	22	4	17	14	31	13
	1.99	1.29	2.88	3.76	1.60	3.75	2.64	3.54	0.66	2.77	2.27	4.94	2.12

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	111	145	151	202	206	217	257	272	345	475	500
	91	124	135	172	171	172	222	218	276	381	405
Operating Profit	20	21	16	30	35	44	35	54	70	94	96
OPM %	18.30%	14.58%	10.88%	14.89%	16.95%	20.48%	13.53%	19.88%	20.13%	19.73%	19.11%
	2	2	3	3	8	3	8	9	7	9	16
Interest	5	5	6	8	10	9	8	10	10	10	10
Depreciation	4	4	4	5	5	6	6	7	7	8	9
Profit before Tax	13	14	9	21	28	32	28	47	60	85	97
Tax %	31.99%	28.28%	20.97%	17.06%	22.92%	13.74%	10.84%	12.72%	16.53%	18.90%	21.58%
Net Profit	9	10	7	17	22	28	25	41	50	69	76
EPS	0.00	0.00	0.00	0.00	0.00	23.35	20.54	33.61	40.50	11.01	—
Dividend Payout %	21.93%	18.52%	16.14%	10.34%	13.02%	13.67%	17.36%	17.69%	17.78%	18.17%	—

COMPOUNDED SALES GROWTH

10 Years:: 16%
5 Years:: 18%
3 Years:: 23%

COMPOUNDED PROFIT GROWTH

10 Years:: 24%
5 Years:: 26%
3 Years:: 41%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 38%
3 Years:: 17%
1 Year:: -7%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 17%
3 Years:: 19%
Last Year:: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	10	10	12	12	12	12	12	12	12	13
	69	80	105	119	137	163	185	222	315	374
	41	43	47	62	77	70	83	81	72	62
Trade Payables	21	36	45	52	36	34	54	51	53	49
	20	15	13	19	35	38	43	53	82	103
Total Liabilities	161	182	223	264	297	317	378	419	534	600
	48	50	55	56	65	64	79	77	87	85
Capital Work in Progress	0	1	0	11	6	11	1	2	1	4
	25	32	33	37	37	55	75	75	81	137
	37	37	45	51	50	52	57	93	137	149
	0	0	0	0	0	0	0	0	125	147
Cash & Bank	8	5	6	7	10	11	15	22	64	45
	43	58	83	102	128	123	151	150	40	33
Total Assets	161	182	223	264	297	317	378	419	534	600

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	11	20	-5	18	9	57	34	30	28	63
Cash from Investing	-6	-8	-12	-17	-3	-32	-31	-7	-57	-37
Cash from Financing	-1	-8	19	3	-1	-16	1	-15	32	-28
	-0	0	-0	-0	0	-0	0	3	2	-3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	9.12	10.80	6.20	14.51	18.43	23.40	20.73	33.92	40.50	11.01
Book Value (₹)	82.44	93.30	99.11	110.92	125.66	147.84	165.23	194.74	264.59	61.54
Dividend per Share (₹)	2.00	2.00	1.00	1.50	2.40	3.20	3.60	6.00	7.20	2.00
Cash EPS (₹)	2.67	2.97	2.00	3.78	4.56	5.64	5.23	7.94	9.21	12.21
PROFITABILITY
Operating Margin %	18.64%	15.47%	12.98%	16.59%	20.91%	21.71%	16.55%	23.28%	20.13%	19.73%
Net Margin %	7.32%	6.76%	4.80%	8.52%	10.58%	12.78%	9.65%	15.02%	14.51%	14.55%
ROE %	11.53%	12.29%	7.10%	13.82%	15.58%	17.11%	13.30%	18.91%	17.84%	19.36%
ROCE %	15.61%	15.57%	10.38%	15.82%	18.13%	17.74%	13.92%	19.15%	19.55%	22.25%
	5.48%	6.02%	3.62%	7.05%	7.78%	9.03%	7.13%	10.24%	10.51%	12.17%
EFFICIENCY
Debtor Days	126	107	144	145	182	185	167	175	135	104
Inventory Days	103	88	98	87	89	86	77	101	121	110
Payable Days	165	140	200	178	169	138	122	158	120	84
	64	55	42	54	101	132	123	118	137	131
FINANCIAL HEALTH
Debt to Equity (x)	0.55x	0.48x	0.40x	0.47x	0.51x	0.37x	0.39x	0.32x	0.22x	0.16x
Interest Coverage (x)	3.41x	3.68x	2.53x	3.75x	3.94x	4.45x	4.36x	5.89x	7.09x	9.32x
	1.34x	1.26x	1.39x	1.25x	1.43x	1.63x	1.39x	1.52x	1.92x	1.89x
GROWTH
Revenue Growth %	0.36%	30.75%	4.05%	33.24%	2.30%	5.11%	18.46%	5.85%	27.09%	37.47%
Operating Profit Growth %	5.06%	6.49%	-16.24%	68.64%	28.99%	9.14%	-9.69%	48.88%	21.31%	34.11%
Net Profit Growth %	9.95%	18.43%	-29.06%	134.19%	27.01%	26.96%	-10.61%	64.83%	22.81%	37.81%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.37%	-72.82%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	8.37x	52.77x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.40x	9.44x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.42%	0.34%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	27.42x	35.57x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	43.65	43.61	43.52	43.39	43.39	43.40	43.44	43.24	43.24
	1.67	1.58	2.27	1.96	1.96	2.06	2.00	1.79	1.54
	3.53	0.59	0.78	0.90	1.04	0.53	0.49	0.39	0.32
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	51.16	54.22	53.42	53.75	53.62	54.01	54.07	54.58	54.91

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Jash Engineering Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-01

Record Date

2026-09-01 - Jash Engineering Limited has informed the Exchange that Record date for the purpose of Dividend & Meeting (AGM) is 16-Sep-2026.

2026-09-01

Shareholders meeting

2026-09-01 - Jash Engineering Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 23, 2026

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - Jash Engineering Limited has informed the Exchange about Schedule of meet

2026-08-25

Updates

2026-08-25 - Jash Engineering Limited has informed the Exchange regarding 'financial results for the period ended 30-Jun-2026 in Machine Readable Form / Legible copy'.

2026-08-18

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-18 - Jash Engineering Limited has informed the Exchange about Transcript

2026-08-13

Copy of Newspaper Publication

2026-08-13 - Jash Engineering Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-12

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-12 - Jash Engineering Limited has informed the Exchange about Link of Recording

2026-08-11

Updates

2026-08-11 - Jash Engineering Limited has informed the Exchange regarding '' Investor FAQs'.