Jain Irrigation has announced a very encouraging 49% increase in revenues from Rs. 154.03 Crores to Rs. 229.95 Crores for Q1 FY 06-07. Whereas PBDIT has increased by 50% from Rs. 27.83 crores to Rs. 41.84 crores, the net profit has increased by more than 64% from Rs.10.71 Crores for Q1 04-05 to Rs.17.57 crores in Q1 FY 06-07. Exports have contributed Rs.79 Crores to overall revenue for the quarter. The Company exports Micro irrigation components, PVC sheets, dehydrated vegetables, processed fruits etc to developed countries in the western world.

In the micro / sprinkler systems division besides the sales in historically important Maharashtra, projects like Andhra Pradesh Micro Irrigation Project and Gujarat Green Revolution Co. Ltd. have helped Company surpass last year’s historic growth levels. Acquisition of Chapin Watermatics, USA, a pioneer in drip irrigation in the world and strategic stake in Eurodrip S.A., Greece, a drip irrigation company with 5 plants worldwide; along with capacity expansion under way, will further enhance growth in this division during the current year.

Pipe sales will maintain the growth momentum due to aggressive government programme for drinking water supply to all villages and additional irrigation to 10 million hectares.

Exports of PVC Sheets have grown 50% in line with corporate numbers. Further, Company had last year added significant new customers for building product applications. Last year’s investment in Nucedar will also help the Company to take lead over competition through newer applications in building industry in future years.

The acquisitions in the Food Processing sector like Parle Bisleri’s mango division, LMP Gujarat Agro Exports etc. have added capacity at low cost in the two food related businesses of the Company which have come on stream fully in the current year. The FY 06-07 is going to be a year of significant growth for food division of the Company.