Investor Presentaiton

◆ Management Commentary JASO Mr. Pratik Patel Managing Director "The first quarter results are always subdued due to the nature of the industry because major revenue is booked in the 3rd and 4th quarters of the financial year. Significant material which was ready for delivery could not be billed because of inability of the clients to pay and take delivery in Q1. This affected Q1 revenues. There has been reasonable growth of 18.3% in standalone revenue but lower dispatches from subsidiary companies have subdued the 1st quarter consolidated results. However looking to the billing already achieved till date in Q2 we are quite confident of significant jump in Q2 revenue on standalone as well as consolidated basis. Improvement in Q1 profitability on standalone basis augers well for annual profitability because in subsequent quarters revenue is expected to grow at a sustained pace. Profitability of subsidiary companies is expected to significantly improve as their Q2 revenue improves. In the current year we are quite optimistic about meeting the projected revenue and improving the profitability on standalone as well as consolidated basis. jashindia.com 28

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