JAIN IRRIGATION’S RESURGENCE AKIN TO ‘PHOENIX’ BIRD
Those who dare to dream
must have the courage to fall
the resilience to rise
and the perseverance to soar
Anil Jain at 36th Jain Irrigation’s AGM
Jain Irrigation experienced challenges in the financial years between 2019 to 2022. However, akin to the ‘Phoenix’, a symbol of rebirth and resilience in Greek mythology, the company is showing signs of resurgence. Anil Jain, the Managing Director and Vice Chairman of Jain Irrigation, expressed optimism about the company’s future prospects. He anticipates good news for all stakeholders, including associates, shareholders, dealers and well-wishers.
Mr. Jain was interacting with the attendees at the 36th Annual General Meeting held at Plastic Park, Bambhori of Jain Irrigation. Jain Irrigation’s Chairman Ashok Jain, Joint Managing Director Ajit Jain, Atul Jain, Senior Director Padma Bhushan Dr. D. R. Mehta, Independent Director Ghanshyam Das, Statutory Auditor Navindra Kumar Surana, CFO Bipin Valame, Company Secretary Avadhut Ghodgaonkar, Jain Farmfresh Foods Director Athang Jain were on the dais and other Board of Directors were present online. Ms. Amrita Nautiyal (Practicing Company Secretary) from Mumbai was present as ‘Scrutiniser’.
Chairman Ashok Jain began by paying tributes to those who had passed away in the previous year. Nine resolutions, including the re-appointment of board members were presented and put for voting of the members present.
While interacting with the attendees, Anil Jain discussed the positive things that happened in the last financial year of the company. Due to financial discipline, quality technology in the agriculture sector and commitment towards farmers, the company was able to achieve rapid financial progress. India is also progressing rapidly. India has been included in the top five economies of the world. Now it is progressing so fast that it will be included in the top three. It is necessary to increase the speed of our progress according to this speed. For this, the company should make reliable use of efficiency by all its components. Bhavarlalji Jain, the founder, had the noble goal of making the small farmer economically prosperous; every associate, shareholder, distributor, well-wisher in Jain Irrigation is working to preserve the same legacy. The company has reorganized its business into two Segments ‘Sustainable Agtech Solution (SAS)’ and ‘Piping and Building Product Solution (PBPS)’. This move aims to leverage advancements in agricultural technology and explore broader business opportunities. Mr. Jain said that the company has focused on the research of seven to eight new crops to be included in its range of offerings under the tissue culture division including potato, coffee, black pepper, papaya, tomato, which will be very important and effective for the farmers in the future
Senior Director, Dr. D. R. Mehta emphasized the importance of agriculture in India, with 70% of the population depending on it. Jain Irrigation’s initiatives, such as drip and tissue culture, are contributing to uplifting this sector.
Other directors recorded their reactions as follows.
Mr. Bas Mohrman said that the management of the company should be appreciated for demonstrating the unprecedented and miraculous turnaround.
Ms. Radhika Perera said that resilience and perseverance to create great social impact are the hallmarks of Jain Irrigation. The vision of business growth in tissue culture is commendable and it will surely have a bright future. Jain Irrigation is a journey of courage, work and excellence.
Dr. H. P. Singh said, "The idea of having two sections offering solutions for sustainable agriculture and building materials is excellent. To rise and fall like a phoenix bird and then fly fast shows the trust and confidence in each teammate. The dedication and hard work of every colleague in the company is exemplary. We believe that the company will reach unparalleled heights in sustainable farming solutions."
Atul Jain, Jt. MD presented the vote of thanks and the meeting ended with the National Anthem. Amongst the attendees were the shareholders, company’s associates and students from Raisoni Management College and Anubhuti Residential School.