It seems to me that it simply set of letters. And, Latin letters X, Y, Z are combined with a Sanskrit.
The letters are ancient Hebrew. The obverse looks like a pomegranate in transition. Very similar to the ancient Judaean coins. I agree with Jensenbay, it's probably a token of some sort from Israel.
If you check out Holyland numismatics on Vcoins. He has a section on learning ancient Hebrew from coins. You might be able to decipher it what it says.
