Synopsis:
Josts Engineering Company Ltd shares rallied after securing a Rs. 2.54 crore order from Hindustan Aeronautics Limited for 46 platform trucks with staggered delivery until December 2029.
An engineered capital goods stock gained sharply after news of a fresh defence sector order, even as recent financial performance showed both sequential and annual weakness. The order win has added confidence to investors eyeing the company’s strategic shift in material handling equipment and expansion in engineered products.
Josts Engineering Company Limited, with a market capitalisation of Rs. 440 crore, opened at Rs. 366 against its previous close of Rs. 363.25. The stock hit an intraday high of Rs. 396, marking a rise of 9 percent.
What’s the News?
The company announced that it has received a purchase order from Hindustan Aeronautics Limited, a key player in India’s aerospace and defence sector. The contract, valued at Rs. 2.54 crore, entails the supply of 46 platform trucks (three-wheelers), which will be delivered in a staggered manner up to December 2029.
This long-duration order not only strengthens the company’s relationship with one of India’s premier defence organisations but also reflects the trust placed in its engineered solutions and execution capabilities.
Operational Highlights
As mentioned in the FY25 Annual Report, Josts represented over 40 international companies, partnered with 38 dealers across India, and operated nine service centres. However, owing to an ageing factory and high production costs, it discontinued in-house manufacturing of material handling equipment. Instead, its wholly owned subsidiary, JECL Engineering Limited, commenced operations at a greenfield manufacturing facility in Murbad with a capacity of 2,100 units annually.
The company has entered exclusive distribution partnerships with global players, including Zowell, to expand its product basket. While JECL Engineering takes forward the material handling equipment business, Josts will now focus on its Engineered Products Division (EPD). This division has benefited from strong demand in the energy sector, as well as new opportunities in semiconductor, defence, and private space industries.
The company has introduced several new products under its EPD segment, including Emergency Restoration Systems, Climatic Chambers, Multichannel Airflow and Air Velocity Meters, and Vibration Comparators. It has also enhanced its service portfolio with
transformer testing, NVH testing for defence vendors and INS Vikrant, and calibration services at its NABL-accredited labs.
Meanwhile, under material handling, commercial manufacturing of a complete range of products in Li-Ion battery models commenced from April 2025. Key strategic partnerships have also been signed with Tower Solutions (Canada), Espec (Japan), Kanomax (Japan), and Onosokki (Japan).
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Financial Snapshot
On a quarter-on-quarter basis, sales declined by 18 percent to Rs. 55.61 crore in Q1FY26 from Rs. 67.85 crore in Q4FY25. Operating profit dropped by 53 percent to Rs. 3.39 crore from Rs. 7.18 crore, while profit before tax fell 91 percent to Rs. 0.56 crore from Rs. 6.09 crore. Net profit slipped 93 percent to Rs. 0.32 crore from Rs. 4.58 crore.
Year-on-year, sales fell marginally by 1.5 percent from Rs. 56.44 crore in Q1FY25 to Rs. 55.61 crore in Q1FY26. Operating profit decreased 41 percent from Rs. 5.76 crore to Rs. 3.39 crore, profit before tax plunged 88 percent from Rs. 4.83 crore to Rs. 0.56 crore, and net profit tumbled 91 percent from Rs. 3.64 crore to Rs. 0.32 crore.
About the Company
Josts Engineering Company Limited, incorporated in 1907 and headquartered in Mumbai, is engaged in manufacturing and selling material handling equipment and engineered products.
Its product range includes platform and tow trucks, forklifts, reach trucks, scissor lifts, order pickers, and dock levelers. In the engineered products segment, it offers solutions in sound and vibration, environmental simulation, electrical testing, nanotechnology, and analytical instruments.
The company also provides installation, commissioning, calibration, testing, training, maintenance, and support services. It was formerly known as Jost’s Fan Supply and Engineering Company Limited until 1913.
Written By Manan Gangwar
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