LiveNSE delayed · 128/128 · 20 Aug 2026, 10:40 am
Scores stay the 15 Aug 2026 desk snapshot. Not advice.
JASH · Capital Goods · Small Cap · Live 20 Aug 2026, 10:40 am · Discovery

Jash Engineering Ltd

Water and wastewater equipment. Small, under-researched, tied to municipal and industrial water capex.

10X Low
Moderate Risk
Attractive Entry
Hidden Growth
Emerging Multibagger
Multibagger score
57.4/100
Market cap
₹2,997 Cr
Last price · live
₹486.20
+1.05 (+0.22%)
52W
₹327–₹573

Implied P/E 38.3x · JASH.NS · delayed NSE

10X potential (scenario)
LOW
Base multiple
1.8x
Bull multiple
4.3x
Classification
Low Probability

Starting size, cyclicality or valuation leave little room for a dramatic re-rating on conservative maths.

Final investment scorecard

Multibagger57.4 / 100
10X potentiallow
Business quality4.7 / 10
Growth runway7.3 / 10
Competitive advantage5.8 / 10
Management7.7 / 10
Balance sheet6.6 / 10
Valuation2.6 / 10
Technical setup8.2 / 10
Riskmoderate

Why it could become a multibagger

  • Genuinely under-owned versus the water-infra TAM.
  • ROCE is already high-teens-plus — not a turnaround hoping for quality.
  • Starting cap leaves mathematical room if the municipal cycle lasts.

What needs to go right

  • Collections stay clean
  • Export mix rises
  • No reckless capacity

What could destroy the thesis

  • A municipal payment freeze
  • A low-ROCE acquisition
  • A quality miss on a large project

What would make me sell

  • Receivables days > 160
  • A large unrelated acquisition
  • Promoter pledge

Key metrics to monitor

Receivables days
Order book
ROCE
Export mix
MF holding
OCF

Illustrative FY25 / TTM desk snapshot compiled for this terminal. Not a live NSE/BSE feed. Cross-check annual reports, exchange filings and investor presentations before use.