• 12^thFeb 2022

Un-Audited Standalone and Consolidated Financial Results For the quarter and nine months ended December 31, 2021

Jain Irrigation Systems Limited (‘JISL’/‘the Company’), the largest Micro Irrigation Systems Company in the country and second largest globally, has announced un-audited standalone and consolidated results for third quarter and nine months ended of FY 2021-22.

Consolidated Performance Overview 3QFY22::

• Revenue increased by 21.2% on YoY basis by registering positive growth in all major business divisions
• Hi-tech Agri Input Products Division registered growth of 14.7% YoY on account of good demand in domestic.
• Plastic Division registered growth of 36.1% YoY on account of strong growth from PE pipes & Sheet business.
• Agro Processing Division registered growth of 29.0% YoY on account of higher sales from domestic market.
• EBIDTA margin for 3QFY22 at 10.8% increased by 310 basis point on YoY basis

Consolidated Performance Overview For 9MFY22:

• Overall revenue expanded by 30.0% on account of positive growth in all major business divisions.
• Hi-tech Agri Input Products Division registered revenue growth of 27.8% YoY growth.
• Plastic Division registered strong growth of 39.9% YoY growth.
• EBIDTA margin for 9MFY22 at 13.3% increased by 640 basis point on YoY basis
• Substantial increased in PAT due to one-time gain from implementation of resolution plan of Bonds in overseas subsidiary.
• Strong Global order book stands at ₹38,037 Mn which includes orders of ₹ 21,131 Mn for Hi-tech Agri Input Products Division, ₹ 6,194 Mn for Plastic Division and ₹ 10,700 for Agro Processing Division.

Standalone Performance Overview: 3QFY22:

• Overall total revenue expanded by 21.7% lead by growth in the both businesses i.e. Hi-tech Agri Input Products Division and Plastic product division.
• EBIDTA margin for 3QFY22 at ~12.9% increased by 570 basis point on YoY basis

Standalone Performance Overview: 9MFY22:

• Overall total revenue expanded by 40.6%.
• Hi-tech Agri Input Products Division registered strong growth 46.1% YoY.
• Plastic Division also registered good growth of 30.8% YoY
• 9MFY22, significant reduction in loss after tax by 74% compare to 9MFY21
• Current India order book stands at ₹ 20,871 Mn which includes orders of ₹ 14,700 Mn for Hi-tech Agri Input Products Division, ₹ 6,169 Mn for Plastic Division.

The Vice Chairman and Managing Director of the Company, Mr Anil Jain said:

"The third quarter of this year has been steady on the operational front. The standalone and consolidated revenue have grown around 21% yoy. We have, thus, grown in each of the three quarters of this financial year. The profitability has also improved tremendously on a 9 month basis compared to last FY, as shown by the big growth in consolidated EBIDTA numbers. This is a reassuring turnaround as compared to the past two years. The outlook for this quarter is robust too.

On the financials side, the major focus during the quarter has been to achieve closure of the Debt Resolution process. We are pleased to mention that we received the formal approvals of all lenders. Since the quarter end, execution of "Master Restructuring Agreement" (MRA) is completed by 12 out of 12 ICA Lenders and 100% by value, along with the Security Trustee and Company for the Resolution Plan to be implemented. Further, in the next few weeks the Company shall execute Security documents and fulfill the Conditions Precedent for MRA to be declared "effective".

The overseas companies are seeing a good traction and the abatement of covid holds a good promise for a steady performance. Covid and supply chain costs caused disruptions in a few geographies from time to time, but we have been able to manage the adversities reasonably well. The demand environment from agriculture sector is robust and the initiatives taken by the Government would stand us in good stead. We are watchful of the rising inflation and are taking steps to protect the profitability.

We are thankful to all stake holders for the support and patience, which has helped the Company in achieving the objectives."

About Jain Irrigation
Our Company, Jain Irrigation Systems Limited (JISL) with it’s motto ‘Small Ideas, Big Revolutions’ with more than 10,000 associates worldwide and revenue of Rs 56.7 Bn, is an Indian multinational company with manufacturing plants in 29 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 since more than 34 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 JISUALEQS 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.