This multibagger stock delivered over 1000% return in 5 years! Is it a part of your portfolio?

Shares of Jash Engineering Limited have delivered over 1000 per cent return in the last 5 years. It is also up over 95 per cent in one year and over 198 per cent in the last two years. The multibagger stock has recovered over 116 per cent from its 52-week low of Rs 671.

About Jash Engineering Limited

Jash Engineering Limited is a member of the Jash Group which was founded by Jashbhai Patel in the year 1948. It is the manufacturer of varied equipment used in water/wastewater/sea water conveyance, pumping and treatment with over 60% of its revenue coming from supplying equipment to projects worldwide.

Jash Engineering Limited: Q1 update

The company, in its earnings call, informed that it has a strong order book position. "Our cumulative order book position including those of subsidiaries has reached Rs 829 crores, which is the highest so far out of this Rs 238 crores is business within India and Rs 591 crores is projects outside India. This augurs well in the long run because this will ensure that our profitability improves because margins outside India are better," it said.

"We are negotiating some very big orders which have come through and can ensure that our order book position will cross over Rs 1000 crores by the end of the second quarter. We still maintain the same sales outlook. In the beginning, we informed that we are looking at anywhere between Rs 500-525 crores as consolidated sales for this year, which is more than a 20 per cent increase over last year. As of now we still feel very confident of achieving that and the movement in the business, international as well as domestic is still small and I see no reason why we should not achieve anywhere between Rs.500-525 crores revenue this year," it added.

Jash Engineering Limited: Order book

In the month of July 2023, the consolidated orders received by the company are worth Rs 112 crore out of which orders worth Rs 17 crore are for the Indian market and orders worth Rs 95 crore are for markets outside India.

As on August 1, 2023, the total consolidated order book position of the company is Rs 829 crore out of which orders worth Rs 238 crore are for the Indian market and orders worth Rs 591 crore are for markets outside India. Out of the consolidated orders, Rs 366 crore worth of orders are for the USA market and the remaining Rs 225 crore constitute orders for the rest of the world.

Jash Engineering Limited on Technical charts

According to Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One, Jash Engineering is in a stellar up move, hovering above all its major EMAs on all time frame charts. The stock recently has seen a decisive spurt in price action post breakout around 1250 and is now placed near its ATH.

"On the technical front, till the breakout zone is sustained, any short-term blip is likely to augur well for the buyers on the counter. Also, the stock looks poised to continue its upwards rally with some minor blips in between," Krishan added.

Disclaimer: The stocks mentioned in the story are for information purposes only. Investors or market participants should consult their financial advisors before taking any position.

 

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