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Revenue
₹160 Cr
verified against source
Revenue YoY
3%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Jash Engineering reported marginal revenue growth of 3% in Q3 FY26, impacted by US tariff uncertainty that caused a 25-30 crore drop in exports to Rodney Hunt. Domestic revenue partially offset the shortfall. EBITDA and PAT margins declined due to lower US sales and tariff-related costs, but management expects full-year PAT margin of 9-10% on consolidated revenue of 775-800 crore. The US-India trade deal has restored tariff clarity, with two consignments cleared at 25% and potential reduction to 18%. Order book stands at 923 crore, with $42 million in US orders. New plant at Pithampur will commence commercial production in April. Acquisitions of Westech and Pento UK are expected to strengthen UK operations and product portfolio. Key risk: integration of acquisitions may take longer than expected, delaying revenue and margin benefits.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects PAT margin of 9-10% for FY26 despite tariff headwinds.
- Revised revenue guidance down from earlier 860 Cr due to US tariff impact.
- Management confident of achieving ~950 Cr revenue in FY27, in line with earlier 5-year plan.
- Expects ratification of trade deal to lower tariff from 25% to 18% on future consignments.
Risks flagged
- Management noted that Westech and Pento UK acquisitions will take time to restructure and may not contribute meaningfully in the first year.
- Although a deal is agreed, ratification is pending; any reversal could again disrupt US business.
- Quality and manpower problems at Shihad have caused delivery setbacks; recovery may take time.
- Fixed-price projects expose the company to raw material cost increases, partially hedged by rupee depreciation.
Key quotes
- We were never affected by the tariff. You are affected by the uncertainty of tariff.
- In any acquisition, first year is gone in rebuilding the company, then next year onwards you start catching up, and the third year is when the peak reaches.
- We are quite confident of 950 crores. Let's see how this 18% ratification is done.
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