News at Jains

Jain Irrigation Q2 net vaults 84.4%

Tue, 23 Oct 2007 16:10:29 +0530

Highlights:

• Sales revenues have grown at 45.5% from Rs. 2,263.4 Million to Rs. 3,292.6 Million.

• The profit after tax has vaulted 84.4% from Rs.162.6 Million to Rs.300 Million reflecting all round growth in major businesses of the Company.

• Domestic business has been growing at 71% and comprises almost 65% of the revenues of the Company at Rs. 2,137 Million. The export business which comprises 35% reflected a 14% growth at Rs.1,156 Million.

• The MIS division continues to grow at scorching 72% at Rs.1,000 Million over the last corresponding quarter (Rs.583 Million) - backed by explosion of demand in Southern (Andhra Pradesh, Tamil Nadu and Karnataka) and Western states (Rajasthan, MP and Chattisgarh).

• The PE piping segment also reflected 236% growth backed by buoyant telecom, gas and water sector demand.

Mumbai, October 23, 2007: Agri major, Jain Irrigation's net sales revenues have grown at 45.5% from Rs. 2,263.4 Million to Rs. 3,292.6 Million.

The EBIDTA have shown an expansion of 1.9%. The profit after tax has vaulted 84.4% from Rs.162.6 Million to Rs.300 Million reflecting all round growth in major businesses of the Company.

While interest costs (increase from Rs.148 Million to Rs.264.5 Million) have gone up due to increased utilization of borrowed funds as well as overall finance cost increase.

The domestic business has been growing at 71% and comprises almost 65% of the revenues of the Company at Rs. 2137 Million. The export business which comprises 35% reflected a lowly 14% growth at Rs.1156 Million.

The MIS division continues to grow at a scorching 72% at Rs.1,000 Million over the last corresponding quarter (Rs.583 Million) backed by an explosion of demand in Southern ( Andhra Pradesh, Tamil Nadu and Karnataka) and Western states (Rajasthan, MP and Chattisgarh) of both project and retail sales. The hi tech equipments in this division have contributed significant productivity increases and have resulted in margin expansion for the division.

The PE piping segment also reflected 236% growth backed by buoyant telecom, gas and water sector demand. Here the exports of pipes to large customer in Africa and Middle East has seen a significant multi fold growth. On the back of a strong mango season the fruit division has registered a decent 36.5% growth over the last season's high base, reflecting the benefits of a two location processing strategy adopted by the Company. The major growth driver in mango puree business continues in to be the association with a large beverage and juice maker, together with growing exports to Middle East Asia. The only dampener has been the PVC sheet division which faces a slowdown in US with housing induced slowdown in demand reflected in 25% negative growth.
The earnings from subsidiaries and acquisitions would be reflected in year end consolidated results.

After declaring the results Mr. Anil Jain said that " … based on current orders in hand the domestic growth would continue to drive the overall Company growth and we expect a robust second half on the back of a good monsoon and higher produce prices for farmers."

About Jain Irrigation -

Jain Irrigation Systems Ltd is a diversified company with more than 5,000 employees worldwide and market capitalization in excess of INR 3.38 bn and a product portfolio encompassing Irrigation Products, Piping Products, Plastic Sheets, Dehydrated Foods, Fruit Puree, Pulp & Juices in India and other world markets. Jain Irrigation has been named as one of the eight Indian companies expected to emerge as challengers to the World's leading companies by Standard & Poor's recently in May 2007.

Jain Irrigation eyes Rs. 2,200 cr in topline this year, approves 20% Dividend for FY 06-07

29 Sept 2007 11:18:54

At the annual general meeting held at Jalgaon, the Founder Chairman Shri B.H. Jain, declared that the Company wished to increase its focus towards meeting Corporate Social Responsibility initiatives. It is worth remembering that Jain Irrigation was perhaps the first corporate entity to alter its Articles in 2006 to provide for 3% of profits every year for rural development out of its profits. He also emphasized on improving returns to all stakeholders of the Company including to the Society.

The Shareholders approved the 20% dividend recommended by the Directors at the 20th AGM. The Dividend cash outflow would be Rs.155 mn as against Rs. 119.76 mn last year an increase of 30% in absolute terms, while maintaining the payout to approx 10% of the profits available for appropriation. This is in addition to the Rs.42 mn paid out as preference dividend and dividend tax thereon.

Mr. Anil Jain, Managing Director while addressing the shareholders in the Annual General Meeting at Jalgaon, said that Company will grow from about Rs 1,220 crore in FY 2006-07 to about Rs 2,200 crore in FY 2007-08. Overall, topline growth would be about 70% for the current year on a consolidated basis.

He further said that out of aggregate value creation of $150 bn in the Indian agriculture every year, the Company is expected to reach in next 2-3 years $1 bn revenue mark dealing in water conservation, water distribution, agri produce processing and exports of plastic sheets etc. He said that it has taken 40 years for the organization to scale the revenue in excess of Rs.10 bn last year but next Rs.10 bn will be possible to achieve in the current year itself.

He added that the Company was marching towards its stated objective of being among the first three entities on a global scale in each of the business areas it operates namely, Micro and Sprinkler irrigation, plastic sheets, vegetable dehydration and fruit processing with the help of organic and inorganic growth achieved in the last two years and planned over the next 3 years. Company is already second largest drip irrigation company in the world and third largest onion dehydration company in the world.

The Official business of the meeting included regular items like accounts (FY 2006-07) adoption, Dividend on Preference and Equity Shares, reappointment of Directors (Mr. A.R. Barwe and Mr. R.B. Jain) and reappointment of Statutory Auditors M/s Dalal and Shah, Chartered Accountants, Mumbai. The meeting considered and approved the two special items of business namely approval for mortgage/charging of properties of Company in favour of lenders and the delegation of authority to borrow beyond the Paid Up Capital and Reserves to the Board of Directors of the Company.

The Board of Directors of the Company had recently approved an additional issue of about 86 lakh new Equity Warrants to the Promoter entities, which could mean an additional fund inflow of little over Rs. 400 crore into the Company over the next 18 months or so. These funds would help the Company deleverage its balance sheet. The total debt to equity of the Company today is about 2.7 and long-term debt to equity is about 1.5. Post this capital infusion and additional cash flow generated by the Company by 2009, the long-term debt to equity ratio is likely to come down to 0.3. This would at that point in time allow the Company to have a balance sheet which can be used to go to the next level in terms of possible larger acquisitions in the water and agriculture space.

Aquarius Brands announces name change to Jain Irrigation, Inc.

18 Sept 2007 11:53:54

AQUARIUS BRANDS ANNOUNCES NAME CHANGE TO JAIN IRRIGATION, INC. ONTARIO, CALIFORNIA â€“ SEPTEMBER 18, 2007. Aquarius Brands, Inc. (Aquarius) announced today that it will be officially changing the company name to Jain Irrigation, Inc., effective on October 1, 2007.

According to Dave Abrams, President, â€œWe are now part of a global company with global facilities and resources. We want to send a clear message to the market that we are an integral part of this larger organization, and there is no better way to do that than to align our name with our parent company. We will continue to promote our strong brands, including API, PEPCO, Chapin and Acu-Drip, just under a new umbrella organization.â€
Aquarius Brands, Inc. is a wholly owned subsidiary of Jain Irrigation Systems Ltd (Jain) of India. Jain is a diversified company with more than 6,000 employees and sales in excess of $350 million with a product portfolio encompassing Irrigation Products, Plastic Piping, Plastic Sheets, Dehydrated Foods, Fruit Puree, Pulp and Juices in India and other world markets. Jain Irrigation has pioneered drip irrigation for small farmers in India and has the majority market share in one of the fastest growing irrigation markets in the world. Jain is listed on the Mumbai stock exchange with approximate market value of USD $850 million and is the second largest manufacturer of micro irrigation systems in the world.

Aquarius is a leading designer and manufacturer of micro-irrigation systems for agriculture, landscape and nursery applications. Aquariusâ€™ divisions include API™, PEPCO™, Chapin™ and Acu-Drip™. The Company has been providing fittings, filters, air vents, tubing, emitters, drip tape and accessories to the irrigation industry for over 35 years. Branded products include Spin Clean™ filters, Tape Loc™, Spin Loc™ and Power Loc™ fittings, Softube™ and Flatube™, Twin Wall™ drip tape, Micro-Flapper™, Quadra-Bubbler™ and Octa-Bubbler™ emitters, among many others. The Company has manufacturing facilities in Ontario and Fresno, California, Winterhaven, Florida and Watertown, New York.

Jain Irrigation Bags Rs. 840 Millions Mango Pulp Order

Thu, 28 Jun 2007 11:53:54 +0530

Jain Irrigation has bagged the largest order for Rs.840 Millions from Hindustan Coca Cola Company for supply of mango pulp. Compared to the order of Rs.330 million last year, this is a quantum jump. Coke bottles Mango drink in India under the most popular brand name of Maaza.

The Mango pulp business is expected to exceed a turnover of Rs.1600 million this year based on additional export orders in hand. Entire order will be processed in the current mango season. The Fruit and Vegetable Processing Division is expected to register more than 50% growth in the current financial year.

JISL has five plants for fruit and vegetable processing in India and one in USA. JISL is expecting to process in excess of 75000 MTs of mangoes in the current season registering 60% growth in amount of quantity processed. The company is a major supplier to many MNCs and to global leading beverage and food brands. JISL has emerged as the largest processor of fruits and vegetables from India.

Company will continue to invest to expand product range and to strengthen backward linkage with farmers so as to become major supplier of frozen, aseptic and dehydrated fruit and vegetable products.
India is the largest producer of mangoes in the world with a share of more than 55% of the world production. India is also the producer of the most delicious mangoes such as Alphonso, Kesar, Dasheri, Totapuri, Chusa, etc. There is large potential for fresh mangoes as well as processed mango juice as consumers are preferring healthy drinks over other types of drinks. Fruit juice and fruit drink market in India is growing above 30% every year.

Jain Irrigation Systems Ltd is a diversified company with more than 5,000 employees worldwide and market capitalization in excess of INR 3.00 bn and a product portfolio encompassing Irrigation Products, Piping Products, Plastic Sheets, Dehydrated Foods, Fruit Puree, Pulp and Juices in India and other world markets. Jain Irrigation has been named as one of the eight Indian companies expected to emerge as challengers to the World's leading companies by Standard and Poor s recently in May 2007.

Oman buys tissue cultured banana saplings from Jain Irrigation, India

08 June 2007 16:10:28

Mumbai June 7 - Banana farmers in Oman can now look forward to bumper yields with Jain Irrigation airlifting its first consignment of 10,000 tissue-cultured saplings to that country.

The Maharashtra-based agro-technology major said the first lot of a total order of 66,000 saplings had left Indian soil on Thursday.

"About 10,000 plants will be dispatched every third or fifth day from now on," Mr Ajit Jain, Joint Managing Director of Jain Irrigation, said. The company has set an export target of 3 million for the year with enquiries coming in from Sri Lanka, Pakistan, Africa and the West Asia.

While traditional banana plants bloom in 16 to 18 months, tissue cultured ones flower in 11 months and Jain Irrigation's "Grand-Nain variety" yield is said to be 375 per cent more than the traditionally grown variety.
Oman farmers cultivate the traditional low-yield Cavendish variety.
Since banana demand is very high in the West Asia, imports from the Philippines and South American countries make up the shortfall. Oman alone imports about 10-lakh plants a year.

The Oman-based agriculture company had tested a variety of tissue culture banana plants before zeroing in on the plants developed by us.
Through this export Jain Irrigation is spearheading bio-technology exports from India. Exporting this technology is the next step," said Mr Ashok Jain, Vice-Chairman, Jain Irrigation Systems Ltd.
The company is supplying tissue-cultured banana plant to farmers in States such as Maharashtra, Tamil Nadu, Andhra Pradesh, Karnataka, Uttar Pradesh, Punjab Assam, Nagaland, Manipur and Orissa.
It says the biotechnology has increased banana yield by 375 per cent.
Overwhelming Response : The annual yield for traditional banana farming was about 24 tonnes a hectare in 1984-85 and drip irrigation had boosted it to 65 tonnes.
Tissue culture technology enhanced it further to 95 tonnes a hectare. The company introduced the biotechnology initiative in 1993-94 with a capacity to tissue culture 50,000 banana plants, which met with an overwhelming response from the farming community.
With continuous innovation and research it augmented its capacity to 10 million tissue culture plants per annum. This capacity will be further expanded to address the growing demand, he said.
Mr Ajit Jain said the company will begin exporting tissue-cultured Jatropa to African countries and is working on tissue cultured turmeric and ginger for domestic markets.

Jain Irrigation to Acquire 50.001% stake in NAANDAN

Mon, 28 May 2007 15:10:28 +0530

Jain Irrigation Systems Limited the agriculture major announced today that it has signed definitive agreements through a wholly owned subsidiary in Netherlands to acquire 50.001% of the share capital of Naandan Irrigation Systems C.S. Ltd, Israel in all cash deal for an amount of $21.5 mn. Out of which a sum of $10.5 mn will be retained in Naandan for future growth of the Company.

Company would be controlled and managed jointly by Jain Irrigation and Kibbutz Naan on an equal basis. Jain is further committed to bring additional funding support in form of loan and/or guarantees to the tune of $7.5 mn for the bonafide growth requirements of the Company. The closing is expected to take place early next month.

NaanDan's global network includes manufacturing companies in the USA, Spain, Mexico, Brazil, Chile and Australia and marketing subsidiaries in France and Italy. Naandan has exclusive distributors in over 50 countries and employs 550 people worldwide. Naandan has achieved a $75 mn revenue for 2006 and is a profit making company.

On the completion of the proposed transaction, NaanDan's name will be changed to 'NaanDan Jain Irrigation C.S. Limited'. The Company will be the platform for development of worldwide drip/sprinkler market for both partners. Both partners have agreed to provide long term guarantees for maintaining the manufacturing facilities and employment in Israel.
Jain Irrigation has pioneered drip irrigation for small farmers in India and has the major market share in India which is one of the fastest growing irrigation markets in the world. Jain Irrigation acquired Chapin Watermatics Inc., USA (Revenues 2006- approx.$10 mn), a leading manufacturer of drip tape in April 2006, and also completed acquisition of Aquarius Brands Inc., USA another irrigation equipment provider (Revenues 2006 - approx.$30 mn) recently in February 2007. With these two acquisitions Jain Irrigation had become number 2 in world in the field of drip/sprinkler irrigation. Now, Jain Irrigation is on its way to becoming the worldwide leader in terms of revenue, product range, technological edge and market reach.
NaanDan is the pioneer in the development of drip irrigation and sprinkler systems. NaanDan was formed in 2001 by a merger of two well established and prominent irrigation companies. Naan, was established in 1937, while Dan was established in 1970. NaanDan develops, manufactures and markets advanced irrigation technologies, covering an extensive range of applications in open fields, orchards and plantations, greenhouses and nurseries, residential and landscape areas and industry.
Kibbutz Naan of Israel is one of the largest and better managed kibbutz in Israel. Kibbutz is a kind of cooperative society with members contributing and sharing the economic benefits from kibbutz assets and management.
Chairman of Jain Irrigation, Mr. B. H. Jain said, " this is a historic deal where Jain Irrigation which is the fastest growing irrigation company in the world, has joined hands with Naandan, which is one of the earliest pioneers of the irrigation technology having global presence. We will be able to leverage their technology to improve productivity of Indian agriculture and use their access to global markets to increase exports from both the countries".
Secretary General of Kibbutz Naan, Mrs. Smadar Shavit said, " the JV Company will reap economic and strategic benefits of the synergies the two companies enjoy in drip/sprinkler business, to become a worldwide leader in the irrigation business"
Jain Irrigation Systems Ltd is a diversified company with more than 4,000 employees and market capitalization in excess of INR 2.75 bn and a product portfolio encompassing Irrigation Products, Piping Products, Plastic Sheets, Dehydrated Foods, Fruit Puree, Pulp and Juices in India and other world markets. Jain Irrigation has been named as one of the eight In www.naandan.com

Jain Irrigation Systems Ltd. among S&P's list of expected world-beaters

Sat, 12 May 2007 11:10:28 +0530

Eight Indian companies expected
To Emerge as Challengers to the Worlds Leading Companies

S&P Global Challengers Class of 2007 Spans 37 Countries; 10 Sectors; includes India's ACC, Hotel Leela Venture, Indian Hotels, Jain Irrigation, Lakshmi Machine Works, Marico, Siemens India, Titan Industries.

LONDON, May 10, 2007 (Source : Standard and Poor's) - Standard and Poor's, the world's leading index provider, published today a listing of 300 mid-size companies that are expected to emerge as challengers to the world's leading blue-chip companies. Eight Indian firms have been included in the annual S&P Global Challengers List™, which identifies mid-size publicly traded companies that exhibit the strongest internal and external growth characteristics.

The 2007 class of S&P Global Challengers has representation across 37 countries and all 10 GICS sectors. The country contributing the most members is Japan, followed by the United States and then the United Kingdom. Regionally, the Americas represent 22.67% of the list's composition, followed by Asia/Pacific (41.67%), Europe (33.33%) and Middle East/Africa (2.33%). Looking at sector representation within the 2007 list, Industrials lead the charge, followed by Financials and Consumer Discretionary.
"In the Darwinian sense, mid-caps are truly positioned in an evolutionary "sweet spot," having survived beyond their start-up phases and offering stability as well as rapid growth opportunities in the future," says Srikant Dash, Index Strategist at Standard and Poor's. "Mid-cap firms can be thought of as having overcome the "growing pains" of small firms and thus a lot less risky than small-cap start-ups. The class of 2007 offers the best potential pool of companies that could become tomorrow's leaders."
The S&P Global Challengers List™ is Standard and Poor's response to needs of consultants and marketers analyzing global growth trends or seeking client engagement opportunities, strategy formulators assessing future partners or competitors and product providers structuring investment vehicles that offer exposure to fast growing mid-size companies. It is based upon a robust methodology that applies consistent standards to multiple countries. The attributes used to identify the companies are three-year share price appreciation, sales growth, earnings growth and employee growth.
A paper outlining the structure, methodology, and constituents of the S&P Global Challengers List™ can be found by visiting www.standardandpoors.com/indices.
About Standard and Poor's Index Services
Standard and Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.45 trillion invested and $4.45 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit www.standardandpoors.com/indices
About Standard and Poor's
Standard and Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries, Standard and Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

Jain irrigation Systems Ltd. is awarded Green Cube Award 2006

Wed, 9 May 2007 09:40:28 +0530

Delhi - The first Srishti Green Cube Award for the year 2006 has been bestowed on Jain Irrigation Systems Ltd. This award is for the Good Green Governance, a contribution towards environment beyond required compliance.
This award is given to Jain Irrigation at the hands of Mr. Kamal Nath, Hon'ble Minister for Commerce and Industry, Government of India on 22nd April 2007.
This award is given to Jain Irrigation Systems Ltd. within the category of manufacturing. Srishti Publications (P) Ltd., a non government organization encouraging the industry who contributes richly for betterment of environment, has instituted this award.
The criteria for the award is best contribution for Conservation of Natural resources energy and water, minimisation of pollution, Nurturing the environmental protection activities, research work in environment, awareness building in the society and afforestation initiatives.
ome other organizations awarded in various categories are Chambal Fertilizer and TATA Sponge Iron Ltd. in manufacturing; My Home Power Ltd, and Reliance Energy in infrastructure; Welham Girl's School and Bannari Amman School in Education; ITC Sonar Bangla, Raintree Hotel and Morari Beach Hotel in tourism and hospitality; Wipro in service industry.

Jain Irrigation Revenue Up At 41%

Wed, 2 May 2007 10:50:28 +0530

Jain Irrigation, the agriculture major has declared its strong results for the FY 2006-07.
Net sales and operating income for the entire year grew at 41% to Rs.12080 million. The Micro Irrigation division had a robust growth at 74% for the year, while Fruit division has grown at 102% for FY 2006-07. The exports have crossed Rs.4060 million showing growth of about 42% over last year. The domestic revenue grew at about 40% in FY 2006-07.

The PBDIT has grown substantially at 62% to Rs.2226 million while PBT has grown at 97% to Rs.1261 million. Due to provision of Rs.262 million of deferred tax liability, the PAT has grown at 35% to Rs.910 million.

In Q4 the sales have grown at 36% to Rs.4494 million backed by excellent growth in Micro Irrigation and Fruit Processing business. For Q4 the PBDIT is Rs.873 million reflecting a 65% growth, whereas PBT has grown by 84% at Rs.568 million.

The Company has good orders on hand and will continue with strong momentum of growth in current financial year on back of excellent prospects in Micro Irrigation, Piping Products and Agro Processing division.
The Company had recently announced acquisition of Aquarius Brands, Inc., USA, to become a real time global player in the irrigation market. Major impact of all recent acquisition will only be felt in current fiscal year.
Mr. Anil Jain, Managing Director said "Increased focus on agriculture by all stakeholders of economy and increased allocation of funds for rural and urban infrastructure development in India from Governments as well as Banks auger well for Company to maintain higher growth on a sustainable basis."

Jain Irrigation Announces Acquisition of Aquarius Brands Inc., USA

17 March 2007 10:50:28

strong>Jain Irrigation Systems Limited, the agriculture major announced today that it has agreed to acquire 100% control in Aquarius Brands Inc. California, USA from Habasit Holding USA Inc for USD21.5 million in all cash deal. Aquarius is a debt free company. With this acquisition, Jain Irrigation will become second largest drip irrigation company in the world.

Jain Irrigation is a diversified company with more than 3,800 employees and market capitalization in excess of INR 25 Billion and a product portfolio encompassing Irrigation Products, Piping Products, Plastic Sheets, Dehydrated Foods, Fruit Puree and Juice concentrates. Jain Irrigation has pioneered drip irrigation for small farmers in India and has the major market share in one of the fastest growing irrigation markets in the world. Jain Irrigation had acquired Chapin Watermatics, a leading manufacturer of drip tape located in Watertown, New York in May 2006.

Aquarius is a leading designer and manufacturer of micro-irrigation systems for agriculture, landscape and nursery applications. Aquariusâ€™ divisions include Agricultural Products (API®), PEPCO®, and Acu-Drip®. The Company has been providing fittings, filters, air vents, tubing, emitters and accessories to the irrigation industry for over 35 years. Branded products include Spin Clean® filters, Tape Loc®, Spin Loc® and Power Loc® fittings, Softube® and Flatube®, Micro-Flapper®, Quadra-Bubbler® and Octa-Bubbler®, among many others. The Company has manufacturing facilities in Ontario and Fresno, California and Winter Haven, Florida. It has network of more than 1000 dealers for product distribution.

Managing Director of Jain Irrigation, Anil Jain said after closing the deal in USA.â€ With this acquisition we have firm foothold in one of the largest markets for the irrigation business and access to latest technology for irrigation componentsâ€. He further added that “ Jain Irrigation will now focus on synergies of its operations in India and USA to offer the most diverse but integrated products and services in the irrigation business to customers all over the worldâ€.

According to Dave Abrams, President of Aquarius, “Jainâ€™s products are perfect fit for our company. The combination of Chapinâ€™s tape, Jainâ€™s low cost manufacturing capabilities and diverse product selection, Aquariusâ€™ broad product line and wide distribution network, is indeed very powerful. We will now be able to offer virtually every type of product, a grower or landscape contractor needs for a drip irrigation system. Our customers have been asking for many of the products that Jain will bring to the table, and the ability to provide a complete, high quality package from one source will enable our customers to lower their costs and grow their business.â€

This Acquisition will be made through Jain Irrigation Inc, USA, a wholly owned subsidiary of Jain Irrigation Systems Ltd. Closing of the transaction will take place immediately.

To learn more about Aquarius Brands, API, Pepco, and Acu-Drip visit www.aquariusbrands.com. To learn more about Jain Irrigation and Chapin Watermatics visit www.jains.com

Jain Irrigation Net Vault 105% YoY

10 March 2007 10:50:28

Micro Irrigation and Piping Divisions Major Contributors

Jain Irrigation, the agricultural major, has posted 37.8% growth (on YOY basis) in revenues at Rs. 3,023 million for Q3 FY 2006-07. Exports contributed 33% of the revenue at Rs. 996 million during the quarter reflecting 42.4% growth YOY. The domestic growth of 35.6% reflects the continued strong demand for its agricultural input products. The operating EBIDTA at Rs.559.90 million grew by over 73.61%. The profit after tax has more than doubled at Rs. 313 million as compared to Rs. 152 million on YOY basis.

MIS division at Rs. 996 million, PVC sheets at Rs. 530 million and PVC Pipes at Rs. 686 million were the three largest contributors while MIS at 86%, PVC Pipes at 63%, Fruit at 46% were the highest growing divisions of the Company in Q3 FY2006-07. The Company is looking forward to improve this growth level in the in short term in last quarter of FY 2006-07. Incidentally last quarter has historically contributed 40% or more revenues for the Company.

The revenues have grown 43.4% at Rs.7,586 million, in the first nine months of this fiscal. The highest growing divisions are MIS Division 89%, PVC pipes 40%, Fruits 48% and the Net Profit has grown 92% at Rs 651 million in the nine month period.

The Company has completed acquisition of Cascade Specialties Inc. USA recently to become the third largest onion dehydrator globally with a capacity of 25,000 MT per annum.

“Jain Irrigation is gaining critical mass in its various business lines well supported with strong order book due to dynamic growth in domestic markets with the help of increased fund allocation to agriculture, irrigation and infrastructure sector by banks as well as government agenciesâ€ said Mr. Anil Jain, Managing Director after the meeting approving the results.

Jain Irrigation has announced a very encouraging 49% increase in revenues

Mon, 9 Apr 2007 19:40:28 +0530

Jalgaon - 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 years 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 years 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 Bisleris 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.

Jain Irrigation Bags Mango Pulp orders of more than Rs.80 crores

Thu, 3 Aug 2006 14:37:08 +0530

Jalgaon- The companys fruit processing division has bagged orders for mango pulp from various customers for more than Rs.82 crores for current season. The company expects to reach mango product sales in excess of Rs.95 crores in the current financial year. This represents growth in mango business of more that 100% compared to the last season. Companys export of mango pulp is expected to cross Rs.70 crores as against Rs.21.50 crores last year. Domestic sales come from supplies of mango pulp to Coca Cola India.

JISL has four plants for fruit processing and has processed about 48,000 MTs of mangoes in the current season. JISL is among the leading producers of mango pulp in India and is possibly amongst the first three processors in the world. Based on current order book and order under negotiations, the fruit and vegetable processing divisions sales turnover is expected to cross Rs.225 crores in the current financial year as against Rs.100 crores last year.

Company has recently set-up a modern facility for the production of frozen fruit pulps and concentrates. Company proposes to ramp up this capacity by 100% before the next season.

India is the largest producer of mangoes in the world with a share of more than 55% of the world production. India is also the producer of the most delicious mangoes such as Alphonso, Kesar, Dasheri, Chausa, etc. There is large potential for processed mango products in domestic markets due to upcoming investments in retail sector.

JISL is diversified entity and is operating in growth oriented businesses of micro irrigation, plastic pipes, plastic sheets and food processing.

Jain Irrigation returns to Dividend list

Tue, 17 Apr 2007 12:11:19 +0530

Jain Irrigation has announced 42% increase in revenues from Rs. 604.81 Crores to Rs. 858.90 Crores, whereas PBDIT has increased by 39% and net profit has more than doubled from Rs.32.40Crores in earlier year to Rs.67.17 crores in FY 05-06. Exports have contributed Rs.289 Crores to overall revenue. On a quarterly basis revenues have shown 50% increase from Rs.218 Crores Q4 FY 04-05 to Rs.330 Crores Q4 05-06. The Gross Profit has increased by 53% at Rs.52.94 Crores. The net profit after tax for quarter has increased by over 86% at Rs.33.19 Crores.

In the micro / sprinkler systems division the projects like Andhra Pradesh Micro Irrigation Project and Gujarat Green Revolution Co. Ltd. have helped Company achieve historic growth levels. Allocation of higher subsidy through Government Programs also enhanced growth opportunities for the division. 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.

Continuing telecom expansion and identification of new business opportunities in the areas of water distribution have been highlights of growth in the PE pipes business. PVC Pipes sales will maintain growth momentum due to aggressive government programmes for drinking water supply to all villages and additional irrigation to 10 million hectares.

Exports of PVC Sheets have grown in a steady manner. Further, Company has added significant new customers for building product applications. Recent investment in Nucedar will also help the Company to take lead over competition through newer applications in building industry.

The recent acquisitions in the Food Processing sector like Parle Bisleris mango division, LMP Gujarat Agro Exports etc. have added capacity at low cost in the two food related businesses of the Company. FY 06-07 is going to be the year of significant growth for food division.

The Directors have recommended payment of 18% Dividend at Rs.1.80 per share.

The Company had in March 2006 completed issue of $60mn FCCB and is implementing an expansion plan for significant increase in existing capacities. The new capacities will be coming on stream in 2nd half of current year.

Jain Irrigation Announces Acquisition of Chapin Watermatics, Inc, USA

Wed, 3 May 2006 11:02:08 +0530

Jain Irrigation Systems Ltd. has announced the acquisition of Chapin Watermatics, Inc, New York, USA through its second generation wholly owned subsidiary, Jain (Americas) Inc, Ohio,USA. Jain Irrigation has acquired 100% shareholding control of Chapin Watermatics at approx. $ 6 million in cash and debt with deferred payment terms for part consideration. Company will use FCCB funds for the acquisition.
Chapin Watermatics Inc, USA is a pioneer and leading manufacturer of drip tape and is known as complete source for field crop, nursery and green house drip irrigation systems. Chapin was created by its inventor Mr. Richard D. Chapin who has been credited with several patents in this field. Chapin has also successfully pioneered and initiated design and development of gravity based drip kits intended to help the below poverty line families in the developing countries to feed them. Chapin is currently selling its products in North and South America, Europe, other Middle Eastern and African Countries. Company has averaged over $ 9 million turnover for past several years. It has a production capacity to take sales up to $ 15 million.
Jain Irrigation is the only company in the world that produces under one roof complete drip irrigation system including PVC & PE pipes, PVC & PE fittings, Polytubes, Emitting pipes and fittings, emitters, spray heads and jets, filtration and fertigation equipment, and green houses. It also undertakes projects on turnkey basis for transformation of wasteland through watershed planning and development. Its multi- product and diversified skill profile enables it bid for global agricultural projects getting underway in developing countries.
Marketing subsidiaries of Jain Irrigation in USA, Europe and Africa and their warehousing facilities will provide additional marketing and logistic support to Chapin Watermatics.
The acquisition will significantly enhance Jain Irrigations ability to participate in turnkey projects in developing world markets while providing a strategic brand fit in matured markets of USA and Europe. Another important outcome will be Jain Irrigations ability to be the only company in the world making complete product range suitable for all types of crops in various geographies for small as well as large farm holdings across the world. Irrigation markets worldwide are witnessing huge growth due to ever growing problem of water scarcity.
Mr. Anil Jain, Managing Director of Jain Irrigation, said after signing the deal in USA, â€œThe focused marketing efforts that Jain brings to the deal will complement the excellent products of Chapin and the acquisition will catapult Jain Irrigation and Chapin Watermatics to the forefront in growing global markets for Irrigation equipments.â€
Jain Irrigation Systems Ltd. is a diversified company with more than 3000 employees and sales in excess of $ 200 million with product portfolio encompassing Irrigation Products, Piping Systems, Plastic Sheets, Dehydrated foods, Fruit Purees, Pulp and Juices and Solar Energy based Thermal and Photovoltaic Systems in India and other world markets.

Jain Irrigations Plastic Park receives ISO 14001 Certification

Tue, 17 Apr 2007 12:11:25 +0530

Jalgaon- Plastic Park of Jain Irrigation Systems Ltd has been awarded ISO 14001:2004 certification by TUV Nord, Germany. This certification has proved that the company has independently established and follows environment management systems.
In todays globalised market and competitive scenario, ISO 14001 certification is only given to organizations which deliver quality products while taking due care of the environment. After conducting a rigorous audit from 1st to 4th February, 2006, TUV Nord has awarded this certification to Jain Irrigation.
Various divisions of Jain Irrigation are already following quality management systems since 1992. Currently, all the major divisions of the Company are certified for ISO 9001. The certification of Plastic Park for ISO 14001 is one more feather in cap of Jain Irrigation. This certificate has been issued for implementation of environmental management system for Design, Manufacture and Supply of Micro Irrigation Systems, Plastic Piping Systems, Plastic Sheets, Tool Room and Engineering Services.
The company is now poised to obtain ISO 14001 certification for the rest of the units and is also preparing for ISO 18000 certification regarding Health and Safety Management systems.
Management Representative, Dr. H. C. Mruthyunjaya worked for this certification under the able guidance of Shri Ajit Jain, Jt. Managing Director, Shri R. Swaminathan, Director Technical, Shri Atul Jain, Director Marketing and all the associates at their respective locations who have contributed their bit for obtaining this recognition.

JAIN - INCID KRISHI SINCHAI VIKAS PURASKAR 2006 Presented on World Water Day celebration

Mon, 20 Mar 2006 23:40:00 +0530

Prof.Soz presented the â¬SJAIN - INCID Krishi Sinchai Vikas Puraskar 2006â¬ award consisting of a cheque of Rs.51,000 and a citation to a senior scientist Prof. Paramjeet Singh Minhas for his contribution in the field of Water Sector. This function organized on the occasion of World Water Day. Prof. Saifuddin Soz, Union Minister for Water Resources and Guest of Honour Shri Pritam Singh, former Chairman Central Water Commission along with Shri J.Harinarayan, Secretary, Ministry of Water Resources present at the function. "JAIN-INCID KRISHI SINCHAI VIKAS PURASKAR - 2006" award conferred on any individual; group or an organization for significant contribution towards development of modern technologies in the field of farm irrigation, drainage and related subjects. At this time Prof. Saifuddin Soz said, Optimal utilization of water resources through appropriate measures for the development and efficient management is necessary for the benefit of the people, particularly poor people. He said that we have, no doubt, made considerable achievement in creation of irrigation facilities and providing drinking water etc. through development of surface and ground water resources. But in view of growing needs, we have to do a lot more in respect of development as well as efficient management of water resources. Prof. Soz opined that two important concerns related to water are the decreasing per capita water availability and the water quality issues. Sustainable development and efficient management of the water resources is the key for economic growth and poverty alleviation. While this is universally applicable, it is more so for India where almost 75% of the population is dependent on agriculture, he added. The Minister emphasized that adoption of latest techniques and technology, both at macro and micro level, are necessary to ensure the optimum and efficient use of water. Apart from measures for improving the efficiency of larger water facilities, due emphasis has to be given to measures like drip irrigation, rainwater harvesting and ground water recharge, watershed development etc. Lauding the contribution of several non-governmental organisations in this effort, Shri Soz said that we have also undertaken studies and research schemes on efficiency of irrigation system, water audit in industries and development of water accounting guidelines. Local actions must be encouraged. Our technical and research organizations should undertake transfer of technology to the stakeholder and public private partnership in these areas should be encouraged, he said. Referring to the Governmentâ¬"s priority to water and involvement of Panchayati Raj Institutions in water sector, Prof. Soz said that under National Rural Employment Guarantee Act, number of activities have been identified to be taken up with focus on water conservation and water harvesting; drought proofing; irrigation canals including micro and minor irrigation works; provision of irrigation facilities to land owned by households belonging to the Scheduled Castes and Scheduled Tribes or to land or beneficiaries under the Indira Awas Yojana of the Government of India; renovation of traditional water bodies including desilting of tanks; and flood control and protection works including drainage in water logged areas. He also released three publications brought out by Indian National Committee on Irrigation and Drainage (INCID) on the occasion. Addressing on the occasion Shri J.Harinarayan, Secretary, Ministry of Water Resources said that the theme of World Water Day-2006, â¬SWater and Cultureâ¬ aims at creating awareness among all stakeholders for promotion, conservation and utilization of water, which is so vital for our sustenance and growth. He emphasized that it is bounden duty of everyone to pledge to preserve the available water resources in acceptable quality and quantity. He expressed his concern on the impart of Global Warming affe 156;Emerging Issues in Water Resources Sectorâ€

Jain Irrigation has completed the offering and placement of Foreign Currency Convertible Bonds (FCCBs) of $ 60 million

Fri, 14 Apr 2006 12:12:05 +0530

The issue conversion price has been fixed at Rs. 345.59 per share, i.e. 40% premium to the closing price in BSE yesterday. The bonds have a maturity of 5 years and carry a zero coupon rate. Bonds will give yield to maturity of 6.75% per annum. The Company plans to use the proceeds of the issue to finance its capital and product development expenditure, financing and refinancing the domestic and international acquisitions and strategic alliances and refinancing of foreign currency denominated loans subject to applicable guidelines. The Company has finalized its capital expenditure plans for FY 2006-07 for its 4 major business divisions, viz. the Micro Irrigation, Plastic Piping, Plastic Sheets and Food Processing. Accordingly, the capacity in plastics business will go up by 69,000 TPA to 204,000 TPA and the capacity in food business will go up by 41,550 TPA to 71,200 TPA after the proposed capex. The increased capacities are likely to come on stream during 2006-07. Post implementation, JISL will have built global capacities in each of its business lines allowing itself to be a leader in India and amongst the top 3-5 players in the world in Micro Irrigation, Onion Dehydration, Mango Processing and PVC Foam Sheet business. The Company also announced recently the acquisition of a strategic stake in Eurodrip SA, a Greece based Micro Irrigation Company with manufacturing presence in 5 countries and exports to over 40 countries in the world. On the domestic front, the company has recently acquired 2 mango processing units of Parle Bisleri in Chittoor District of Andhra Pradesh and is readying the plants for the 2006 mango processing season. Morgan Stanley were the sole Book Runner and Lead Manager for the issue and domestic advisors were YES Bank and SSKI Corporate Finance Private Limited.

Jain Irrigation gets empanelled in Tamil Nadu for Micro Irrigation

21 March 2006 12:13:05

Jain Irrigation, along with two other local irrigation companies, have been empanelled by the Govt. of Tamil Nadu for supply of drip and sprinkler irrigation systems in the farmers fields for the year 2005-06 and 2006-07. This empanelment would enable Jain Irrigation to participate in a major way in the proposed Centrally sponsored as well as State sponsored schemes which envisage covering totally over 30,000 Ha in a years time at a value of approximately 120 crores. Jain Irrigation has been selected from among 16 companies that had applied in response to an expression of interest called for late last year. The recent acquisition of Terra Agro Technologies Ltd. at Udumalpet, Tamil Nadu by Jain Irrigation augurs well with this empanelment, which is set to propel the company many notches ahead of competition besides marking the State in the Micro Irrigation map of the country. Besides being pioneer for drip irrigation in India, Jain Irrigation is already playing a leading role in the State Sponsored Micro Irrigation Scheme in Andhra Pradesh, Gujarat and Maharashtra. With this addition of Tamil Nadu and expected addition of other States next fiscal year, this division of the company is set for very exciting growth in the coming year.

ZAMBIA AGRICULTURE MINISTERS VISITS JAIN IRRIGATION

14 March 2006 13:05:02

The Hon Minister of Agriculture and Co-operatives of Zambia - Mr. Mundia F Sikatana along with the High Commissioner of Zambia to India visited Jain Irrigation Systems Ltd. on 10th and 11th of March, 2006. He was also accompanied by other officials of his ministry. Mr. Vinit Verma - Deputy Director of Agriculture - Govt. of India also accompanied the delegation. The Ministerial delegation was very keen to know new methods of irrigation which they want to adapt in Zambia. They paid a visit to all the production facilities and the R&D farm. During their visit they expressed interest in Drip and Sprinkler Irrigation, Tissue Culture of Banana, Fruit and Vegetable Processing. In addition they also expressed special focus on renewable natural energy resources. They were convinced about JAINS capabilities to cater to large volumes of production and their capabilities to handle turnkey agriculture and irrigation projects. In closing the Minister has invited JAINS to invest into Zambia by getting involved in the irrigation infrastructure development and ultimately setting up manufacturing units in Zambia. The Minister has assured full support in Zambia to enable JAINS to set up their activities. Jains have expressed their eagerness to enter this market, and shall be taking further steps to start working in Zambia. As part of the Govt. of India "Focus Africa' program JAINS are confident that they shall be able to get the necessary support from India for their exports to Zambia. The visit remarks of the Hon. Minister are as under : "Most impressed by the huge investment in irrigation equipment ideal for the agricultural industry in Zambia. I encourage Jain to invest in Africa in order to boost agriculture. I wish the government in Zambia to establish firm contracts with JAIN, and also wish Jain all the success". MUNDIA F. SIKATANA, M.P., MINISTER OF AGRICULTURE & CO-OPERATIVES, ZAMBIA 11.03.2006

DRIP IRRIGAITON IS NEED OF HOUR - Chandrababu Naidu

13 March 2006 14:35:02

Lucknow : Agriculture is the backbone of Indian Economy and 66% population is dependent on agriculture. There are very good resources in Uttar Pradesh, however, these resources need to be utilized properly and there is a good scope for development of Agriculture in Uttar Pradesh. Around 76% of the available land area is irrigated in Uttar Pradesh. Soil and water are very important resources in Agriculture. Soil is very fertile in U.P. Sufficient water is also available. However, growth of agriculture in U.P. has been abysmally slow. There is a need of adoption of Hi-tech irrigation techniques like Drip Irrigation, Tissue Culture, Hybrid Seeds etc. Adoption of Drip Irrigation is need of the hour now for better yields and superior quality of horticultural and cash crops. T.D.P.Chief, Shri Chandrababu Naidu, expressed his views during the inauguration ceremony of Agri-Expo 2006 at Lucknow on 11th February 2006. Shri Mulayam Singh Yadav, Honble Chief Minister of U.P. also expressed his views regarding the development of agriculture in U.P. Shri Amar Singh, General Secretary of Samajwadi Party and Chairman of U.P.Development Council while expressing his views mentioned that there is a need of active involvement of multi-national companies by their investment for agricultural development in U.P. Shri Amar Singh added that they are inviting more number of companies for agriculture development. Shri Ashok Vajpai, Honble Minister of Agriculture , U.P. also expressed his views about the agriculture development schemes in U.P. and requested farmers to adopt Drip Irrigation & other Hi-tech schemes. Smt. Radha Singh, Union Agriculture Secretary also expressed her views and Central Sponsored Scheme for agriculture. Agri-Expo 2006 exhibition & conference was organized by the Centre for Agriculture and Rural Development, New Delhi. Mr.M.J. Khan, Chief Editor of Agriculture Today and Organizer arranged this exhibition for Agriculture Development in U.P by using different technologies and also for horticulture development. Around 120 stalls were put-up by private companies, Govt. organizations, Banks, Agriculture Universities etc. Jain Irrigation Systems Ltd., a Pioneer in the promotion of Drip Irrigation in the country also displayed their products and arranged live demonstration of Drip and Sprinkler Irrigation. Shri Chandrababu Naidu, Shri Mulayam Singh Yadav, Shri Amar Singh, Smt Radha Singh and Shri Ashok Vajpai visited the stall of Jain Irrigation and also witnessed the live demonstration. Jain Irrigation is doing well and I had visited their plant at Jalgaon was the comment made by Shri Chandrababu Naidu to all VIPs present at the live demonstration of drip irrigation. Organizer also arranged a face-to-face interaction at hotel Taj and also arranged a technical seminar at the exhibition site. Shri B.D.Jade, Manager Technical Services explained the importance of Water Management and concept of drip irrigation, drawbacks in conventional irrigation in horticulture crops and cash crops like sugarcane. He also explained about Tissue Culture Banana Cultivation and Fertigation in the Technical Seminar. Organizers confirmed that around 60000 farmers visited this exhibition on all the four days from UP, Uttaranchal, Bihar and Assam. After visiting the Agri-Expo Exhibition, the farmers were of the opinion that this type of exhibition should be arranged frequently for the development of agriculture. .

Jain Irrigation acquires a strategic stake in EURODRIP

Fri, 24 Feb 2006 14:10:00 +0530

ain Irrigation through its wholly owned UK based subsidiary Jain (Europe) Limited has acquired and subsequently exercised 10% of the rights to the currently ongoing capital increase of Eurodrip S.A, Greece. At completion of the capital increase, Jain would end up with a stake of approximately 7.5% in Eurodrip S.A on full subscription basis. The cost of the transaction was about Euro 3.5 Mn. Eurodrip SA Is an Athens based company with manufacturing plants located in USA, Turkey, Jordan, Egypt and Greece and sales spread over in about 40 countries. The Company is amongst the first 5 global micro irrigation companies. The company is listed on the Athens Stock Exchange since 2000. Eurodrip SA had consolidated sales revenue of Euro 35 Mn. for the year 2004. For the nine months ended September 30, 2005, the Group achieved Euro 27.8 Mn. Jains is looking forward to the mutual benefit from establishing a close strategic relationship between the two companies and in working together In a synergistic and complementary manner. The move is in line with the Company's strategy to foster relationship with global players in micro irrigation systems. YES Bank was the exclusive strategic and financial advisor for this transaction. About Jain Irrigation Systems Limited: Jain Irrigation Systems Limited is one of the leading agri-business company in India. The Company's product range includes: Micro Irrigation Systems consisting of drip and sprinkler irrigation systems; Piping Systems consisting of PVC pipe and Polyethylene ("PEâ€) pipe and fittings; Plastic Sheets consisting of PVC sheet and Polycarbonate ("PC") sheet products; Agro Processed Products consisting of dehydrated onion and vegetable products and processed fruit purees and concentrates; and other products such as agricultural tissue culture and solar water heater and photo-voltaic systems.

Jain Irrigation acquires Mango Processing Business From Parle Bisleri Pvt Ltd, Mumbai

Mon, 20 Feb 2006 11:15:00 +0530

Jain Irrigation Systems Limited (JISL), a Jalgaon based Processed Fruit & Vegetable Major, has acquired Mango Processing Business from Parle Bisleri Pvt Ltd, Mumbai, at an aggregate consideration of Rs.14 crores as an on-going business. Through this acquisition, JISL has acquired two Mango Processing Facilities at Chittoor in South India in the midst of largest mango growing region in the country. With this, JISL has built capacity of about 58000-60000 MTs of mango processing amongst its Jalgaon (MS), Hyderabad & Chittoor (AP) Plants. The new business also comes with existing customer base for exports to Middle East & South East Asia. Parle Bisleris revenue for the current year from this Division is likely to be Rs. 35 crores. The acquisition will help JISL increase market penetration in these regions and result in significant savings including freight & raw material procurement costs. Benefits of the transaction will flow in JISL books from F.Y. 2006-07. The acquisition makes JISL the largest Processor of Fruits & Vegetables in the country and possibly the biggest Mango Pulp Processor in the organized sector, said Mr Anil Jain, MD of JISL after inking the deal. Jain Irrigations Fruit Processing Division is a Supplier of processed tropical fruits. The turnover for the Division is estimated at Rs.60 crores with exports contributing estimated Rs.30 crores in F.Y. 2005-06. Domestically the Division supplies to the users of fruit pulp like Coke (Maaza). India is the second largest producer of fruits in the world. However, only about 4% of the fruits produced are getting processed, as against 50% in Israel, 70% in Brazil & USA and 83% in Malaysia. The Fruit Processing Sector in India has grown by about 20% while the demand for fruit juices in the country is growing at about 40%.

JAIN IRRIGATION ranks 185th in the FE - 500 composite ranking of top Indian companies in 2004-2005)

Sat, 18 Feb 2006 12:25:00 +0530

(India Business Insight Via Thomson Dialog NewsEdge)" Feb 15, 2006 Jain Irrigation Systems Ltd (JISL) ranks 185th in the FE-500 ranking of 2005. The composite ranking is based on the performance of public and private sector companies (excluding non- banking finance companies and banks) on five select parameters in 2004-2005. These are net sales, total assets, net worth, gross profit and market capitalisation. Financial data are sourced from the published balance sheets of companies that closed their financial year between 1 Apr 2004 and 31 Mar 2005. For select companies, Jun 2005 figures were considered. Market capitalisation is arrived at based on the closing prices of stocks as on 31 Mar 2005. Results have been annualised in the case of companies whose financial years were less than or exceeded 12 months. The listing also factors in the performance indicators: return on net worth (RONW), return on assets (ROA) and return on sales (ROS). JISL ranks 226th in terms of net sales (which grew by 49.59 percent to Rs. 687.58 crore in 2004-2005); 194th in terms of total assets (grew by 14.83 percent to Rs. 868.58 crore); 196th in terms of net worth (grew by 20.31 percent to Rs.328.45 crore); 294th in terms of gross profit (grew by 21.57 percent to Rs. 54.56 crore) and 205th in terms of market capitalisation (grew by 110.47 percent to Rs. 732.34 crore). Its RONW amounted to 9.86 percent, ROA to 6.28 percent and ROS, to 4.71 percent.

Jain Irrigation Plans Investment in a Start-Up U.S. Company

Sat, 11 Feb 2006 16:40:02 +0530

Jain Irrigation has decided to acquire 51% controlling interest for US$ 3Mn. in a US Company working in the custom home building market. Exact structure of investment will be determined by end February. The investment would be made in phases over the calendar year 2006. NuCedar Mills Inc. Will address emerging building industry demand for products made from PVC Sheets. The venture intends to get a definitive patent ruling issued for its newly developed architectural millwork process. A new or remodeled home market in the US requires $ 3 Bn. worth of trim board products. Part of this market is already being supplied by PVC Sheet division of Jain Irrigation. The new product means additional business for each home being built or re-modeled in the US. Last year, US issued permits for 2Mn. New homes. This alone provides for a $ 12 Bn target market for new application. For FY 2005-06, export from PVC Sheet Division is growing by 40% and will cross sales of US$ 40 Mn. Mr.Jain, Managing Director of Jain Irrigation said after signing the deal, Nu-Cedars products not only provide added demand for our PVC Sheet products, but also an exciting opportunity to further tap into the strong US building products industryâ€. He added further that this niche premium product is environment friendly as it will substitute lumber products and will provide respite from deforestation.

We have been recommended for 14001- 2004 EMS

Sat, 4 Feb 2006 21:00:02 +0530

Today Audit for 14001 EMS of the Company's Irrigation, Plastic Piping, Plastic Sheet Division has been completed by TUV, India and our case has been recommended for 14001 - 2004 Environment Management System Certification by TUV NORD Germany.

Jain Irrigation-Net Jumps 150%

Fri, 20 Jan 2006 15:58:28 +0530

Jain Irrigation has reported substantial increase in profit for its Q3 FY 2005-06 results. The company has declared 54% increase in net sales income comprising of almost 78% growth in domestic business at Rs.149.79 crores and just under 18% growth in exports at Rs.69.60 crores for the Q3 FY 2005-06. Companys net profit has gone up by 150% for the current quarter from Rs.6.09 crores to Rs.15.25 crores. For the entire 9 months, net profit has gone up by 132%. The operational EBIDTA margin for Q3 FY 2005-06 at Rs.36.46 crores has improved by 185 bps [17.67%] despite raw material price rise. The net EBIDTA margins have, however, declined at Rs.33.34 crores marginally by 60 bps [15.12%] compared to same period last year after absorbing Rs.3.12 crores forex loss. On year to-date, 9-month basis, the domestic growth in revenue is approximately 50% at Rs.335 crores and just over 20% at Rs.194 crores for exports, whereas the overall corporate revenue growth is 37% as compared to corresponding 9 months of previous year. The MIS/SIS, PE Pipes, Food Processing & PVC Sheet Divisions continue to have robust demand and even last quarter will also see further significant growth. The company has announced an ambitious Capex Plan of Rs.225 crores recently and is expected to tie up funds for the plan before the end of current Financial Year.

JAIN IRRIGATION-Plastic Piping Division bags Rs.169 Million maiden Order

Tue, 10 Jan 2006 16:15:22 +0530

Jain Irrigation, a diversified group of companies, has added another feather in their cap! The PE Pipe Division has bagged a prestigious order for rehabilitation of water distribution system including replacement of house service connections for the Karnataka Urban Water Sector Improvement Project. This project is the First of its kind in India to demonstrate virtues of continuously pressurized drinking water supply to consumers, 24 hours a day, 365 days a year. The order is valued at Rs.169 million and the work is spread out in five demonstration zones at Belgaum, Hubli-Dharwad & Gulbarga in the State of Karnataka, to benefit around 2 lac consumers. Compagnie Generale des Eaux (Veolia Water) was selected as the Operator through International Competitive Bidding by KUIDFC to implement this World Bank funded project. Veolia Water has 150 years experience for management of water supply systems and operates in 65 countries worldwide. Jain Irrigation look forward to working together with world leader Veolia Water for this project. Today, Jain Irrigation is the largest Manufacturers & Supplier of Piping System solution for various water related issues in rural & urban areas. Water supply in most cities in India is intermittent mainly due to lack of efficient O&M techniques rather than due to lack of water availability. Continuous and pressurized 24x7 water supply is important to prevent entry of polluted groundwater & sewerage into the water pipelines, which otherwise contaminate the drinking water and is a major health hazard causing diseases like cholera, typhoid, etc. On completion of rehabilitation works, these demonstration zones will be operated by Veolia Water to demonstrate efficient operational practices including leak detection & control, computerized billing, customer services & provision of adequate drinking water to the slum areas. Successful implementation of this project will create a replicable model for Municipal Corporations in India to improve water supply services in their respective areas of operation. The entire rehabilitation works are scheduled for commissioning in September 2006.

Board approved for revenue budget and capital expenditure plan for 06-07

Mon, 14 Nov 2005 16:31:22 +0530

The Board of Directors of Company has met today at Jalgaon and discussed, approved the revenue budget and capital expenditure plan for FY 2006-07 This has been done in light of exponential growth in various divisions and conducive external environment including support of Government of India for irrigation infrastructure and food processing. The total requirement for capital expenditure and investment is estimated at approx Rs.225 Crores. The money would be utilised for expansion of capacities as follows. In Plasticulture Business - Existing Capacity is 135,000 T.P.A. adding New Capacity 69,000 T.P.A., Total Capacity will be 204,000 T.P.A. In Food Business - Existing Capacity is 29,650 T.P.A. adding New Capacity 41,550 T.P.A., Total Capacity will be 71,200 T.P.A. Post implementation, JISL will have built global capacities in each of its business lines allowing itself to be a leader in India and amongst first 3 to 5 players in the world. This expansion will be implemented over next 12 months and most of new capacities will be in place by September 2006 i.e. before busy season of FY 2006-07. The Board has authorised the Managing Director to explore and finalise various options of raising funds including by means of loans, bonds, convertible bonds or otherwise. The Board has also recommended to shareholders increase in FII limits from present 49% to 60% of Equity Share Capital. The Board of Directors have appointed Mrs.Radhika Pereira as independant Director in casual vacancy existing in the Board. The Board has convened an EOGM at Jalgaon on Tuesday, 31st January 2006 to consider various matters requiring shareholders approval. The Notice and Explanatory Statement shall be sent in due course of time to the Exchange.

Jain Irrigation Bags EIMA Technical Innovation 2005 Award

Mon, 14 Nov 2005 16:31:22 +0530

EIMA Technical Innovation 2005 Committee has selected Jain Irrigation Systems Ltd, a company out of India for Technical Innovation Award for their AUTO FLUSH FILTER. Jain Auto Flush Filter is an ingenious combination filter. It completely eliminates the trouble of periodically cleaning and it also act as an air release cum vacuum breaker valve. Committee for Technical Innovation Secretariat is a body of professionals from the Agricultural Universities and Irrigation Industry constituted by UNACOMA(National Union for Agriculture Machinary), the organizers of EIMA. Over the past several years this committee has recognized the research and development efforts of various companies from agriculture and irrigation industry. Mr. Ajit Jain, Joint Managing Director of Jain Irrigation Systems Ltd has received this prestigious award in a glittering ceremony on Saturday 12th November 2005 in Bologna, Italy. Companys Mr. Atul Jain, Director-Marketing, Mr. Gupta, Mr. Sudhakar and Abhijit Joshi were also present in the award ceremony. Over the years Jain Irrigation has received several National and international awards and recognition. In 1997, Mr. B H Jain, Chairman of Jain Irrigation was conferred with Crawford Reid Memorial Award by Irrigation Association of United States in recognition of his significant achievements in promoting proper irrigation techniques and in fostering major advancement in the industry outside United States. According to Mr. Atul Jain, Director-Marketing of Jain Irrigation, "We are very pleased to have been recognized once again for our research and development effort in bringing out new and innovative products and solutions for the irrigation industry. It is quite an achievement of our technical team to get this award from the worlds leading industry association"

Jain Irrigation Bags 55 crore Export Orders

Mon, 31 Oct 2005 12:43:28 +0530

Our Plastic Sheet Division has received US$ 12 M (Rs. 55 crores) of Order from two of our customers in American markets. These Orders are for a newly developed Wood Grain Plastic Sheet product by the division. Jain Irrigation Systems Ltd. over the past 24 months has concentrated its efforts in the building materials segment and has gained a fair share of this market. The Plastic Sheets used in this industry at present is a meager 3% but continues to show a rapid growth. Building and construction market continues to be bullish and value added products continue to have good growth demand. Added to this, the recent catastrophic hurricane damages in the southern part of the country will lead to reconstruction efforts that will keep the construction segment buoyant. Company will execute these orders in current fiscal. The company has positioned itself as a reliable quality supplier and is continuing to make the necessary investments in strengthening its infrastructure to meet the growing demands for its products in overseas markets.

Jain Irrigation-Net Jumps 97%

Fri, 16 Sep 2005 15:03:28 +0530

Drip Irrigation leader, Jain Irrigation, has declared excellent financial results for 2Q of FY 2005-06. Revenue has grown by 31% and net profit is at Rs.8.13 crores, showing a 97% jump over corresponding quarter. For 1H of FY 2005-06 revenue has grown by 27%, operating profit by 24% and profit at net level has jumped by 119%. The Hi-Tech agri input product segment has reported 59% growth while the industrial products segment shows a 17% growth for 2Q. The growth during 1H for these segments are comparable at 42% and 16% respectively. While the Agri Input Division has contribued 21% of segment profit before interest and tax whereas the industrial products segment has contributed about 15%. Historically, revenue for 1H accounts for about 35% of total revenue for the year. The upcoming 2H is the main revenue and profit generating period of the year for the Company. Company has robust order book to maintain similar performance in the coming 6 months. The Company had recently announced merger of unlisted Company, Terra Agro, Coimbatore, with itself with 1st April 2005 as the appointed date of merger. The Company hopes to complete the merger in FY 2005-06.

Board has given in-principle approval for the amalgamation of Terra Agro Technologies

Fri, 16 Sep 2005 15:03:28 +0530

Companys Board Meeting held at 11.00 a.m. on September 5, 2005.

The Board has among other items, decided to give in-principle approval for the amalgamation of Terra Agro Technologies Limited, an unlisted Indian company, being a 100% Export Oriented Unit engaged in the business of cultivation and dehydration of vegetables for export (Terra Agro) with the Company w.e.f. 1st April 2005. The said company holds quality assets in form of almost new equipment, 1200 acres of agricultural land, and green houses etc.

The Company also intends to use the Terra base in S. India to produce and promote its agricultural product range like drip irrigation, sprinkler, PVC pipes, Tissue culture banana etc. The valuation experts have been appointed and shall submit their report in 2-3 weeks when the Scheme would be finalized.

Board also noted with satisfaction the recent sale of shares by Mauritius based Aqua entities held by them for just over last three years to new Indian and global quality investors which has helped in spreading the Equity Shares widely in keeping with the public status of the Company.

Approval has given to the implementation of an Employee Stock Option Plan / Scheme (ESOP). 30,71,200 Stock Options/Equity Shares are covered by the ESOP. The approval of Shareholders will be obtained in the 18th AGM to be held on 30-09-2005.

The Board has convened the 18th AGM of the Shareholders on Friday, 30th September 2005 at the registered office in Jalgaon to deal with the Ordinary and Special business as per the approved Notice.

The Board has deferred decision on acquisition of strategic stake in an overseas irrigation manufacturer as the negotiations are still inconclusive.

Jain Irrigation approves increase in FII limits

Fri, 16 Sep 2005 15:25:26 +0530

At an extra ordinary general meeting held at Jalgaon today, the shareholders approved increase in FII lmits to 49% of issued, subscribed, paid up capital of the Company, Now Company will approach authorities for lifting the freeze on FII limits in Companies capital.

The shareholders also approved issue of 30,70,000 Equity Share Warrants, to certain individuals of Promoters Group at Rs. 155 each convertible in 18 months into one equity share of Rs. 10 each.

The shareholders approved reappointment of Shri. Anil B. Jain as Managing Director for 5 years from 20-8-2005.

The meeting was presided by Shri. B. H. Jain and attended by major shareholders and associates in the Company.