Slide 1: Jash Engineering Ltd. Investor Presentation June 2021
When every drop counts… JASH ENGINEERING LTD. Contributing to a sustainable environment worldwide… Investor Presentation June 2021 Mahr 11 Maschinenbau Mahr Maschinenbau
Slide 2: Disclaimer
DISCLAIMER This presentation and the accompanying slides (the “Presentation”), which have been prepared by Jash Engineering Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secur
Slide 3: What's Inside
WHAT’S INSIDE Company Overview Products & Application Financial Performance Business Outlook Investment Rationale 33 Mahr Maschinenbau
Slide 4: Company Overview
COMPANY OVERVIEW Head Office at Unit 1 in Indore 4
Slide 5: Jash At-a-Glance
JASH AT-A-GLANCE Incorporation 1973 of Company Jash Engineering Ltd. › An ISO-9001:2015 / ISO-14001:2015 / 45+ Exports OHSAS ISO 45000:2018 certified company Countries Global 5 Manufacturing Units dedicated to offering varied products for use in Water and Wastewater Pumping Stations and Treatment Pl
Slide 6: Evolution of the Company
EVOLUTION OF THE COMPANY 2019 Established plant of 50,000 Sqft at SEZ for Fabricated 1996 2009 products. Acquisition of Sureseal to Technical Collaboration with Biggest Water Control add Water Hammer 2012 Invent, Germany for gates company of India & control valve range Established new plant Disc Fil
Slide 7: Evolution Through Acquisition
EVOLUTION THROUGH ACQUISITION Rodney Hunt Inc., USA To add world renowned brand and get (FY-21 revenue ₹ 103 Cr.) access into north American market of water (Acquired at US$ 4 million) 2016 control gates. To get access to top representatives in states so that they can Mahr Maschinenbau GmbH, AUSTRIA
Slide 8: State of Art Facilities & Turnover Capability
STATE OF ART FACILITIES & TURNOVER CAPABILITY Total Turnover Potential from existing facility UNIT-1 CAST PRODUCTS PLANT ₹ 500+ Cr UNIT-2 FABRICATED PRODUCTS PLANT BUILT UP AREA: 125,000 Sq. ft. BUILT UP AREA: 155,000 Sq. ft. Turnover Capability : ₹ 75 Crore Turnover Capability : ₹ 175* Crore UNIT-3
Slide 9: Plant Capabilities
PLANT CAPABILITIES Positive Material Physical & Chemical Casting weighing up Machine job with Water jet Cutting of Bend & shear Fabricating capacity Identification testing of material to 20,000 kgs. maximum size of upto stainless stainless steel up to for jobs up to 50 10,000 x 4000 x steel plates u
Slide 10: Products Overview
PRODUCTS Jash Fabricated Products Plant Unit-2 OVERVIEW 10
Slide 11: Product at a Glance
PRODUCT AT A GLANCE .Water Control Gates Penstocks / Sluice Gates Open Channel Gates Downward Opening Weir Gates Flap Gates Stop Logs . Heavy Fabricated Gates Bulk Head Slide Butterfly Gates Radial / Tainter Gates Roller Gates Crest Gates Bonneted Gates Gates 11 11 Mahr Maschinenbau
Slide 12: Product at a Glance
PRODUCT AT A GLANCE . Coarse Screening Equipment Trash Rack Jash MMR Screen “JMR” Multi-rake Screen Jash Back Rake Screen Suspended Trash Rack Fine Screening Equipment . Rotoclean Rotary Rotobrush Rotary Screenmat Step Screen Drum Screen Screen Mahr Perscalator Screen Travelling Band Screen 12 12 Ma
Slide 13: Product at a Glance
PRODUCT AT A GLANCE Screening . Conveying Equipment Belt Conveyor Screw Conveyor Screw Conveyor Jet Breaker Washer Compactor with wash compactor 13 13 13 13 Mahr Maschinenbau
Slide 14: Product at a Glance
PRODUCT AT A GLANCE . Knife Gate Valves . Special Purpose Valves “ZFI” Series “MONO” Series Zero Velocity Valve Air Cushion Valve Energy Dissipating Valve Knife Gate Valve Knife Gate Valve . Bulk Solid Handling Valve Slide Gate Valve – Swing Gate Valve – Double Flap Valve – Fabricated Slide Slide Ga
Slide 15: Product at a Glance
PRODUCT AT A GLANCE . Process Equipment Detritor Slow speed Clarifier Clarifloculator Slow speed floating aerator fixed aerator . Hydro Power Equipment . Screw Pumps . Filtering Equipment Hydropower Screw Generator Archimedean Screw Pump iFILT® Diamond Disc Filter 15 15 Mahr Maschinenbau
Slide 16: Application of Products
APPLICATION OF PRODUCTS Water intake systems Storm water pumping stations Water & waste water treatment plants Steelsystems Irrigation plant Power plants Paper & pulp plants Petrochemical plants Steel plants 16 16 Mahr Maschinenbau
Slide 17: Product Usage
PRODUCT USAGE Human Drinking Water Cycle 10-15% % Of Total Turnover Industrial Usage Storm Water Cycle 10-20 % 5-10% % of total turnover % of total turnover PRODUCT USAGE Renewable Energy Generation Human Wastewater Cycle 5-10% 60-70 % % of total turnover % Of Total Turnover 17 17 Mahr Maschinenbau
Slide 18: Where Are These Products Used
WHERE ARE THESE PRODUCTS USED Human Drinking Water Cycle Stages in Human Drinking Water Cycle Jash Products Used • Collection / storage of water in dams and reservoirs Water control gates • Intake systems to take fresh water from dams / reservoirs or take Water control gates seawater from sea for de
Slide 19: Where Are These Products Used
WHERE ARE THESE PRODUCTS USED Human waste water and Industrial waste water cycle Stages in Human & Industrial Waste Water Cycle Jash Products Used Water control gates • Pumping stations to collect and pump waste water to distant Screens sewerage treatment plant Knife gate valves Archimedes screw pum
Slide 20: Where Are These Products Used
WHERE ARE THESE PRODUCTS USED Storm water cycle Stages in Storm Water Cycle Jash Products Used Water control gates • Pumping stations to collect and pump storm water to sea / river / Screens treatment plant Knife gate valves Archimedes Screw pumps Water control gates • Storm water treatment plant wh
Slide 21: Where Are These Products Used
WHERE ARE THESE PRODUCTS USED Renewable Energy Generation Stages in Renewable Energy Generation Jash Products Used Hydropower screw generator • Canal based power generation Water Control Gates Screens Hydropower screw generator • Run of river based power generation Water Control Gates Screens Hydrop
Slide 22: Where Are These Products Used
WHERE ARE THESE PRODUCTS USED Industrial use Stages in Industrial Use Jash Products Used • Collection / storage of water in dams and reservoirs Water control gates Water control gates • Intake systems to take water from dams and reservoirs Screens Water control gates • Pumping stations to pump water
Slide 23: Product Offerings with Revenue Contribution (FY21)
PRODUCT OFFERINGS WITH REVENUE CONTRIBUTION (FY21) Water Control Gates Screening Equipment 54% 22% Revenue Contribution Revenue Contribution Hydropower & Pumping , Valves Process Equipment and others 10% 14% Revenue Contribution Revenue Contribution 23 23 Mahr Maschinenbau
Slide 24: Making the World Our Market
MAKING THE WORLD OUR MARKET From predominant sales in single geography of India in early nineties, the company is today present in multiple (over 45 countries) regions with each region having significant contribution in turnover. Sweden MIDDLE EUROPE Norway EAST & AFRICA Canada United Kingdom FY 21
Slide 25: Clients & Consultants - India
CLIENTS & CONSULTANTS - INDIA KEY CONSULTANT CONTRACTORS KHILARI 25 25 Mahr Maschinenbau
Slide 26: Clients & Consultants - International
CLIENTS & CONSULTANTS - INTERNATIONAL KEY CONSULTANT CONTRACTORS 26 26 Mahr Maschinenbau
Slide 27: Financial Performance
FINANCIAL PERFORMANCE Crest Gate at Landsberg Fish Passage Ravensdale, WA, USA 27
Slide 28: Standalone Performance – Jash, Shivpad & Jash USA
STANDALONE PERFORMANCE – JASH, SHIVPAD & JASH USA JASH ENGINEERING LTD. SHIVPAD ENGINEERING PVT. LTD. JASH USA / RODNEY HUNT Revenue (₹Cr) Revenue (₹Cr) Revenue (₹Cr/ US$ Mn) 214.3 219.4 ₹ 85.0 / $ 11.6 ₹ 103.2 / $14.0 18.0 19.1 FY20 FY21 FY20 FY21 FY20 FY21 EBITDA (₹Cr) EBITDA (₹Cr) EBITDA (US$ Mn)
Slide 29: Consolidated Financial Snapshot
CONSOLIDATED FINANCIAL SNAPSHOT Revenues (₹Cr) Gross Profit (₹Cr) & Margin (%) EBITDA (₹Cr) & Margin (%) 56.1% 57.0% 16.1% 18.0% 285.6 302.3 254.7 53.6% 11.6% 54.5 160.1 172.4 45.9 179.6 51.6% 136.5 7.7% 92.7 29.6 13.8 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Profit Before Tax (₹C
Slide 30: Consolidated Balance Sheet Snapshot
CONSOLIDATED BALANCE SHEET SNAPSHOT (₹ CR) Balance sheet as on 31/03/21 Ratio FY21 Capital Allocation Capital Structure Capital (₹cr) Structure Leverage Capital Structure CapitalExpenditure Capital Expenditure Cash 22.2 Total Debt / Capital 43% Capex of Debt 67.0 Net Debt / Capital 29% ₹ 9.5 cr Net
Slide 31: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT Particulars (₹ Cr) Q4FY21 Q3FY21 Q4FY20 FY21 FY20 Total Income 128.5 80.5 92.4 302.3 285.6 Total Expenses 102.8 68.1 79.7 266.1 257.9 EBITDA 30.3 17.2 16.9 54.5 45.9 EBITDA Margin (%) 23.6% 21.4% 18.3% 18.0% 16.1% Finance Cost (Net) 2.4 2.7 2.5 9.8 10.3 Depreciation 2.2
Slide 32: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET Particulars (₹ Cr) FY21 FY20 Particulars (₹ Cr) FY21 FY20 Equity & Liabilities ASSETS Shareholder's Funds Non-Current Assets Share Capital 11.8 11.8 Property, Plant & Equipment 68.2 72.2 Other Equity 144.5 113.6 Capital Work in Progress 10.2 5.5 Total Shareholder's Fund 15
Slide 33: Business Outlook
BUSINESS OUTLOOK Sluice Gates at Storage Reservoir Colorado River Front, Colorado, USA 33
Slide 34: Consolidated Pending Order Book as on 1st June 2021
CONSOLIDATED PENDING ORDER BOOK AS ON 1st June 2021 Shivpad Engineering Within India Outside India Engineering & Manufacturing Pvt Ltd Jash Ltd ₹ 271 cr ₹ 23.36 cr ₹ 1 cr ₹ 156 cr Domestic & Subsidiaries Combined Export Jash USA Inc ₹ 427 cr ₹ 112 cr 34 34 Mahr Maschinenbau
Slide 35: Consolidated Order Pipeline for Q1
CONSOLIDATED ORDER PIPE LINE FOR Q1 AS ON 1st June 2021 Within India Within India Outside India Outside India ₹ 10 cr ₹ 11 cr ₹ 34.97 cr ₹ 32.10 cr ALREADY UNDER Combined NEGOTIATED NEGOTIATION Combined ₹ 21 cr ₹ 67.07 cr Orders already negotiated with clients by 1st June 2021 will generally be rece
Slide 36: Consolidated Sales Outlook for FY 21-22
CONSOLIDATED SALES OUTLOOK FOR FY 21-22 Shivpad Engineering Within India Outside India Engineering & Manufacturing Pvt Ltd Jash Ltd ₹ 200 cr ₹ 25 cr ₹ 1 cr ₹ 150 cr Domestic & Subsidiaries Jash Combined Export USA Inc ₹ 350 cr ₹ 130 cr Projections are subject to adverse conditions due to Covid-19 re
Slide 37: Other Developments
OTHER DEVELOPMENTS 1. Infrastructural and production facility enhancement in Unit 1 & Unit 2 which was scheduled to be completed by June 2021 will now be completed by Sept 2021. Phase 1 expansion at SEZ Unit 3 will now be over by Sept 2021. The delays are on account of shutdown in the state of MP du
Slide 38: Other Developments
OTHER DEVELOPMENTS 4. The company has already secured orders worth over ₹ 100 crores in Singapore for supply of Knife gate valves, Water control gates , Stoplogs and Flap gates to various packages already awarded under Tuas Water reclamation project of PUB Singapore. The company is in process of bid
Slide 39: Management Commentary
MANAGEMENT COMMENTARY Mr. Pratik Patel Managing Director “ The financial year started with countrywide lockdown for 7 weeks in April and May 2020. Despite this stoppage of production, the company has still managed to achieve a minor growth in revenue for the year 2020-21. However the company has sub
Slide 40: Investment Rationale
INVESTMENT RATIONALE Unit-4 & Unit-3 at SEZ, Pithampur 40
Slide 41: Strong Board with Diversified Experience
STRONG BOARD WITH DIVERSIFIED EXPERIENCE Mr. Axel Schuette Mr. Vishwapati Trivedi Mr. Durgalal Tuljaram Manwani He has wide business experience in He is highly experienced ex-officer who has He has over 35 years of experience in many countries and is on the board served in Govt. of India. He has bee
Slide 42: Competent & Professional Management in Head Office
COMPETENT & PROFESSIONAL MANAGEMENT IN HEAD OFFICE Mr. Pratik Patel Mr. Suresh Patel Mr Bhuvanesh Pandey Managing Director Executive Director Vice President – Operations BE-Production & MBA-Finance, Age 56 BE-Civil, Age 78 years, 50 years of BE-Electrical & DBM , Age 42 years, 20 years, 32 years of
Slide 43: Competent & Professional Management in Subsidiaries
COMPETENT & PROFESSIONAL MANAGEMENT IN SUBSIDIARIES Mr Ranjit Nair Mr Rob Kibler President, Rodney Hunt Head of Engineering, Rodney Hunt Mechanical Engineer, MBA - Finance, Age - 47 Years, 18 Age - 65 years. Associated with over 37 years at Rodney years of experience in the field of the wastewater i
Slide 44: The Turnaround of Rodney Hunt
THE TURNAROUND OF RODNEY HUNT The Rodney Hunt brand was acquired By Jash in Sept 2016 ! The Rodney Hunt manufacturing facilities in USA were acquired in Aug 2017 and production started after reorganization in Aug 2018 ! In 4 years of commencement of operations in USA we have touched revenue of USD 1
Slide 45: Approved Brands / Comprehensive Product Base
APPROVED BRANDS / COMPREHENSIVE PRODUCT BASE DividendAPPROVED BRANDS COMPREHENSIVE Dividend PRODUCT BASE The business is based on brand approval from end users. The No other peers or company in India or in world manufactures company markets its products under Jash, Jash-Schuette, more than 3 product
Slide 46: Diversified Markets & Global Reach / Infrastructural Investment
DIVERSIFIED MARKETS & GLOBAL REACH / INFRASTRUCTURAL INVESTMENT DIVERSIFIED Dividend MARKETS AND GLOBAL REACH INFRASTRUCTURAL Dividend INVESTMENT Unlike most of its peers the company is not focused only on The company has put in place one of the most comprehensive Indian market. Its markets are dive
Slide 47: Shareholders Information
SHAREHOLDERS INFORMATION STOCK DATA SHAREHOLDING PATTERN (As on 23rd June 2021) Symbol (NSE) Employee Trusts* JASH 0.3% Market Shares ₹ Capitalization Public (As on 31st Promoters Outstanding (₹ Cr) 1.18 Cr 553.42 47% March 2021) 53% Stock Price (₹) 469.00 * 120 employees participated in ESOP. 47 47
Slide 48: Thank You
THANK YOU For further information, contact: Dharmendra Jain Siddesh Chawan Jash Engineering Limited Christensen Advisory E-mail: dharmendrajain@jashindia.com E-mail: schawan@christensenir.com Ph.:0731-6732700, 0731-2720143 Ph.: +91 (22) 4215 0210 JASHENGINEERINGLTD RODNEYHUNT INC JASHUSAINC MAHR MAS