JASH Engineering Reports ₹91 Crore Order Intake in June 2026; Consolidated Order Book Reaches ₹912 Crore

What Happened ?

Key details

Operational Update – Order Booking & Order Book:

• Rodney Hunt Inc., USA received its first tariff refund claim of USD 540,785.
• The company will proceed with filing additional tariff refund claims based on this precedent.
• Consolidated order inflow for June 2026 stood at ₹91 crore.
• Domestic orders contributed ₹40 crore, while overseas orders contributed ₹51 crore.
• Major domestic customers included:
  • Laxmi Civil Engineering Services Pvt. Ltd., Nagpur
  • VA Tech Wabag
  • Mirzapur Thermal Energy Pvt. Ltd.
• Key international customers included:
  • Al Raida Engineering & Industrial Services, Qatar
  • Deer Creek WRF CMAR, Ohio, USA
• Consolidated order book reached ₹912 crore on 1 July 2026.
• International projects account for ₹628 crore, while Indian projects account for ₹284 crore.
• Overseas order book composition:
  • USA – ₹377 crore
  • Waterfront-UK – ₹36 crore
  • Mahr, Austria – ₹18 crore
  • Rest of World – ₹197 crore
• Negotiated orders awaiting formal purchase orders total ₹55 crore.

Note:

• The company stated that negotiated orders generally take up to two months to convert into formal purchase orders. Once purchase orders are received, they are added to the consolidated order book.

Risk Analysis

Summary:

• The operational update is positive; however, a portion of the future business pipeline remains under negotiation and has not yet converted into confirmed purchase orders.

Key Risks:

• ₹55 crore of negotiated business has not yet been converted into firm purchase orders.
• Order execution timelines may vary depending on customer approvals.
• International projects expose the company to execution, geopolitical and currency-related risks.
• Tariff refund recoveries may continue over time and remain subject to applicable regulatory processes.

Worst Case:

• If negotiated orders fail to convert into confirmed purchase orders or execution of existing projects is delayed, future order inflows and revenue visibility could weaken.

Risk Level: Medium

Company Commentary

• Rodney Hunt Inc. has successfully received its first tariff refund claim and the company intends to file additional refund claims.
• The company reported consolidated monthly order inflows of ₹91 crore for June 2026.
• The consolidated order book stood at ₹912 crore as of 1 July 2026, providing healthy revenue visibility.
• Management clarified that negotiated orders are removed from the negotiation pipeline only after receipt of formal purchase orders and are then included in the consolidated order book.