• 30^th June, 2021

Audited Standalone and Consolidated Financial Results For the quarter / year ended March 31, 2021

Jain Irrigation Systems Limited, the largest Micro Irrigation Systems Company in the country and second largest globally, has announced audited standalone and consolidated results for the fourth quarter and the twelve months of FY 2021.

Key Highlights:

• Consolidated revenue in Q4 registered 19.2% growth y-o-y.
• FY21 consolidated revenue is at INR 56,669 Mn and standalone revenue is at INR 21,564 Mn
• Consolidated EBIDTA margin increased from 1% to 11% in Q4 y-o-y and from 5% to 8% for FY21.
• FY21 consolidated EBITDA is at INR 4,680 Mn, standalone EBITDA is at INR 1652 Mn
• Q4 consolidated PAT is at INR 639 Mn, standalone PAT is at INR (222) Mn
• FY21 consolidated PAT is at INR (3,687) Mn , standalone PAT is at INR (3,073) Mn
• Global order book now stands at INR 41.9 billion

The Vice Chairman and Managing Director of the Company, Mr Anil Jain said:
"We are pleased to announce the audited financial results of the Company for the fourth quarter and year ended March 31, 2021. The level of activity was higher in the fourth quarter as compared to the earlier quarters. This was also due to relatively benign covid conditions in the quarter. The revenue rose 93% in the quarter and 8% in the full year for the standalone Company. On the profitability front also, there has been a positive turnaround in the quarter in both standalone and consolidated Company. This is a reflection of the sustained efforts and focus of the Management in the last year to turn around, despite the challenges on external and internal fronts.

The exports from India is at a healthy level of Rs 525 crores during the year. The present order book is at Rs 4,188 crores which gives the comfort on revenue visibility. The demand environment is conducive for the Company’s products, given the fact that agriculture sector is showing good traction in the economy. The working capital efficiency has improved by 10% (50 days) for standalone operations in terms of reduction in the DSO (days sales outstanding). Overall the Company has been able to reduce consolidated net debt by Rs 425 crores on y-o-y basis.

There has been continued progress on the Resolution Plan of the Company. Progress is also happening on Resolution Plan for different entities within the Group. We remain optimistic about early and successful completion of all these efforts based upon current status of the Plans. We wish to sincerely thank the various stakeholders - employees, banks, financial institutions, shareholders, suppliers and customers - for their wholehearted support."

About Jain Irrigation
Our Company, Jain Irrigation Systems Limited (JISL) with it’s motto ’Small Ideas, Big Revolutions’ with more than 10,500+ associates worldwide and revenue of ~USD 0.80 Bn, is an Indian multinational company with manufacturing plants in 30 locations across the globe. JISL, its subsidiaries and associates are engaged in manufacturing of Micro Irrigation Systems, PVC Pipes, HDPE Pipes, Plastic Sheets, Agro Processed Products, Renewable Energy Solutions, Tissue Culture Plants, Financial Services and other agricultural inputs for more than 35 years. It has pioneered a silent Productivity Revolution with modern irrigation systems and innovative technologies in order to save precious water and has helped to get significant increase in crop yields, especially for millions of the small farmers. It has also ushered in new concept of large scale Integrated Irrigation Projects (IIP). ’More Crop Per Drop™’ is the company’s approach to water security and food security. All the products & services of JISL help create sustainable future while fulfilling its vision ’Leave this world better than you found it’. JISL is listed in NSE-Mumbai at JISLJALEQS and in BSE at code 500219.

DISCLAIMER:
The information in this release has been included in good faith and is for general purposes only. It should not be relied upon for any specific purpose and no representation or warranty is given as regards to its accuracy or completeness. No information in this press release shall constitute an invitation to invest in Jain Irrigation Systems Limited. Neither Jain Irrigation Systems Limited, nor their or their affiliates’ officers, employees or agents shall be liable for any loss, damage or expense arising out of any action taken on the basis of this release, including, without limitation, any loss of profit, indirect, incidental or consequential loss.