Jasch Gauging Technologies Limited (**JGTL**) is a specialized Indian engineering firm and a leading manufacturer of **Electronic Thickness Gauges** and **Nucleonic Gauges**. Formerly a division of Jasch Industries Ltd, the company emerged as an independent, pure-play instrumentation entity following an **NCLT-approved demerger** effective **September 30, 2023**. Headquartered in **New Delhi** with primary manufacturing in **Sonipat, Haryana**, JGTL provides high-precision, non-contact measurement solutions essential for quality control in continuous production environments. --- ### **Core Product Portfolio & Industrial Applications** JGTL specializes in the design and production of industrial gauges used for the online measurement of critical production parameters. These systems are vital for maintaining quality and reducing waste in high-speed manufacturing lines. * **Measurement Capabilities:** Online monitoring of **thickness, grammage (weight per unit area), moisture, ash content, and coating weight**. * **Primary Product Lines:** * **Electronic Thickness Gauges:** Non-contact sensors for real-time quality control. * **Nucleonic Gauges:** Advanced measurement systems for dense or specialized materials. * **Key Target Industries:** * **Paper & Non-Woven:** Monitoring grammage and moisture levels. * **Metals:** Online thickness measurement for **steel, aluminum foil**, and non-ferrous sheet rolling. * **Plastics & Coating:** Measuring film thickness and **galvanizing** weights in coating lines. --- ### **Strategic Restructuring & Corporate Evolution** The company recently completed a significant structural transformation to unlock shareholder value and sharpen its focus on the gauging technology sector. * **The Demerger:** Under the **Scheme of Arrangement** (Appointed Date: **April 1, 2022**), the gauging business was carved out of Jasch Industries Ltd. * **Share Allotment:** Shareholders of the parent company received **2 fully paid-up equity shares** of JGTL (Face Value **₹10**) for every **5 shares** held in Jasch Industries Ltd. * **Listing & Compliance:** The company is listed on the **BSE Ltd** (**L33111DL2021PLC381513**) and operates as an **ISO 9001:2015** certified organization. * **Ownership Consolidation:** A family settlement/MOU was executed in **April 2024** to consolidate promoter shareholding under specific group members. As of March 31, 2025, **100%** of the paid-up share capital is **dematerialized**. --- ### **Operational Infrastructure & Manufacturing Strategy** JGTL centralizes its operations to maintain stringent quality control and maximize manufacturing competitiveness. | Feature | Details | | :--- | :--- | | **Primary Manufacturing Hub** | 43/2, Bahalgarh Road, (Vill: Sultanpur), **Sonipat, Haryana** | | **Operational Status** | Independent business operations commenced **October 1, 2023** | | **Digital Transformation** | Transitioning toward **Smart Operations** via digital platform alignment | | **Efficiency Focus** | **Standardization of components** to reduce costs and improve global serviceability | | **Asset Status** | Title deeds for land/buildings are being transferred from the parent entity following the NCLT order | --- ### **Global Expansion & Market Reach** While JGTL maintains a strong domestic presence with a customer base spread across India, the company is aggressively pursuing international growth. * **South Korean Hub:** In **March 2025**, the Board approved a **Branch Office in South Korea**. This serves as a strategic base for sales and technical service for the **South Korean, Malaysian, and Indonesian** markets. * **Export Potential:** The company leverages its **in-house technology** to compete in foreign markets, providing a **natural hedge** against currency fluctuations. * **Revenue Model:** Growth is driven by **Capital Expenditure (CAPEX)** cycles in user industries. The company’s technology-based positioning allows it to **pass on increases in raw material costs** (steel and electronics) to customers, minimizing commodity risk. --- ### **Governance, Management & Leadership** The company is led by a board with deep technical expertise in electronics and industrial automation. * **Key Leadership:** * **Shri Jai Kishan Garg:** Chairman & Managing Director. * **Shri Manish Garg:** Executive Director (IIT Mumbai alumnus specializing in **plant automation equipment**). * **Performance-Linked Incentives:** To align leadership with shareholder interests, **Key Managerial Personnel (KMP)** receive variable pay based on **0.5% of Net Profits**, capped between **10% and 25% of their fixed annual pay**. --- ### **Risk Management Framework** JGTL operates a structured risk mitigation strategy to navigate the cyclical nature of the capital goods sector. | Risk Category | Mitigation Strategy | | :--- | :--- | | **Economic Sensitivity** | Diversifying across multiple industries (Steel, Paper, Plastic) and geographies to reduce dependence on any single sector. | | **Technological Obsolescence** | Continuous R&D and upgrades to in-house gauging technology. | | **Financial/Credit Risk** | Management considers default risk **negligible**; no impairment losses recognized even for receivables past **180 days**. | | **Liquidity & Interest** | Daily reviews by the **Treasury Department**; focus on efficient working capital to offset floating interest rate exposure. | | **Cybersecurity** | Implementation of complex passwords, time-based OTPs, and regular security patches. | | **Regulatory** | Regular deposit of statutory dues; proactive compliance monitoring (e.g., addressing BSE filing delays). | --- ### **Financial Context & Reporting** Due to the demerger, JGTL’s financial history includes a period of "legal fiction" where the business was managed by the parent company as a **trustee** (April 2022 – September 2023). Consequently, all financial statements for **FY 2022-23** and **FY 2023-24** have been **restated** under **Ind AS** to provide investors with a consistent, standalone view of the company’s performance trajectory. The company maintains a clean capital structure with **no outstanding GDRs, ADRs, or convertible instruments**.