Broker's call on Jash Engineering recommends a Buy rating with a target price of ₹565, representing significant upside from the current market price of ₹447.70. According to reports from The Hindu BusinessLine, the recommendation is based on strong growth prospects and strategic expansion plans outlined during management meetings. The latest analysis highlights the company's strong fundamentals and growth trajectory across multiple business segments.
The company's India operations demonstrated robust growth with revenue growing 18% year-on-year in FY26. Management has provided guidance for 18-20% year-on-year growth in FY27, as reported by The Hindu BusinessLine. The company's core categories have achieved market share exceeding 70%, with strong traction from major cities including Mumbai where they supplied over 28 projects out of total 30 in recent quarters. Management expects road infrastructure capex to moderate post-FY28 following completion of major Vande Bharat investments, with water infrastructure emerging as the next key growth driver.
Capacity expansion remains a key focus with 2 new plants commissioned during the year and Unit 1 expansion scheduled for completion by June 2026. According to The Hindu BusinessLine, this expansion will increase revenue potential to ₹1,200 crore. The Singapore order book currently stands at approximately ₹100 crore, providing international revenue visibility. The company maintains adequate capacity while focusing on high-engineering, customised solutions rather than mass-market demand.
Over the medium term, the Houston and Saudi facilities, involving combined capex of $3 million, could materially expand revenue potential toward ₹1,500 crore by FY29-30, as reported by The Hindu BusinessLine. The UK business continues to gain traction, supporting the company's diversified international presence. While near-term tariff-related uncertainty may create volatility, management's claim of competitiveness at a 50% tariff level appears supported by India's structural cost advantage. The company's long-term opportunity exists in wastewater-to-potable-water reuse, where they have already executed pilot projects in Singapore.
