The shares of this small-cap manufacturing company closed 14% higher at its new 52-week high of Rs 1,450 on Wednesday. The stock rallied after it bagged an order worth Rs 49 Crores.
Known in forty- five countries worldwide, Jash engineering limited is a global company that manufactures a wide range of equipment for the engineering industry, sea, and water waste. Jash has marked its presence in four continents through its wholly-owned subsidiaries.
Jash, an India- based engineering and manufacturing tycoon received orders worth Rs. 49 crores in just one month. The order was inclusive of Rs.11 crores received from overseas markets. The order was received from the Nuclear Power Corporation of India. This was the largest order in the Domestic Market for Jash Ltd.
In the past six months, the stock has gained approximately 66% and in the span of a year, it has delivered 90%.
The revenue growth of the company has decreased by 61.9% from Rs. 168 crore in the March Quarter of 2022 to Rs. 64 crores in the Q1 quarter of this year. However, on a YoY basis, their revenues have increased from Rs 46 Crore in Q1FY22.
The company reported a net loss of Rs 3 Crore in Q1FY23 compared to a profit of Rs 33 Crcore in Q4FY22 and a loss of Rs 4 Crore in Q1FY22.
The stock has a strong growth momentum and is doing quite well with a market capitalization of Rs. 1,542 crores. Although, out of 52.21% owned by the promoters in December 2022, 1.71% have been pledged and the company has a declining net cash flow.
As on January 1, 2023, orders from India and orders outside the country have grown by 20%. For the previous year, the consolidated order book position stands at Rs. 638 crores.
Jash Engineering has recently acquired Waterfront Fluid Controls based in the UK. They have also started a joint venture with INVENT Umwelt- und VERFAHRENSTECHNIK AG, Germany. The company has already been established in June 2023 and will begin its day-to-day operations from September 2023.
Written by Bhumika Khandelwal
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