New Delhi, March 27 -- Small-cap multibagger stock Jash Engineering, engaged in water and wastewater management, has a strong runway for growth despite a sharp rally over the past few years, believe analysts at Aditya Birla Capital.

The brokerage has initiated coverage on Jash Engineering with a 'buy' rating and a target price of Rs.715, signaling 30% upside from current levels, driven by strong revenue potential, expansion into global markets, product diversification, and consistently improving ROEs and ROCEs.

"We expect Jash to achieve a 17%/17%/19% CAGR in revenue, EBITDA, and PAT and initiate coverage with a buy rating and a target price of Rs.715, valuing the stock at 35x FY27E EPS, the brokerage said.

The strong views by the brok...