Order Book
923 Cr
+12% YoY
Consolidated order book as of Feb 1, 2026; 653 Cr outside India, 270 Cr domestic.
JASHENGINEERING
Other
10 Feb 2026
Jash Engineering Ltd — Q3 FY26
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.
✓ Verified against BSE filing
2-Min Summary
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.
Key Numbers
US Revenue (FY26E)
$29M
-19% YoY
Expected US revenue for FY26, down from $36M last year due to tariff uncertainty.
US Order Book (Rodney Hunt)
$42M
flat YoY
US order book as of Feb 1, 2026; orders resumed in January with 3.5M booked.
Westech Order Book
45 Cr
N/A
Order book of acquired Westech; 15 Cr to be executed in Q4, balance in FY27.
Management Guidance
Full-year PAT margin 9-10%
Management expects PAT margin of 9-10% for FY26 despite tariff headwinds.
marginsConsolidated revenue FY26: 775-800 Cr
Revised revenue guidance down from earlier 860 Cr due to US tariff impact.
revenueFY27 revenue target ~950 Cr
Management confident of achieving ~950 Cr revenue in FY27, in line with earlier 5-year plan.
revenueUS tariff rate to reduce to 18%
Expects ratification of trade deal to lower tariff from 25% to 18% on future consignments.
otherKey Risks
Acquisition integration delays
Management noted that Westech and Pento UK acquisitions will take time to restructure and may not contribute meaningfully in the first year.
medium · management_commentaryUS tariff uncertainty persists
Although a deal is agreed, ratification is pending; any reversal could again disrupt US business.
high · analyst_questionManpower issues at Shihad plant
Quality and manpower problems at Shihad have caused delivery setbacks; recovery may take time.
medium · management_commentaryRaw material price volatility
Fixed-price projects expose the company to raw material cost increases, partially hedged by rupee depreciation.
medium · analyst_questionNotable 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.