Unaudited Standalone and Consolidated Results For the Quarter Ended June 30, 2018
Q1 FY18 (Consolidated)
Jain Irrigation Systems Limited, the largest Micro Irrigation Systems Company in the country and second largest globally, has announced unaudited standalone and consolidated results for 1st quarter of FY 2019.
Consolidated Total Income increased by 24.4% y-o-y in Q1 FY19, Standalone Total Income increased by 17.5%
Consolidated EBIDTA increased by 16.6% at INR 2,908 Mn in Q1 FY19, Standalone EBITDA increased by 26.3% at INR 1,903 Mn
Consolidated PAT increased by 81.3% at INR 851 Mn in Q1 FY19, Standalone PAT increased by 6.6% at INR 436 Mn
Global order book now stands at INR 46,374 Mn
Recently bagged largest Micro Irrigation order of INR 9,750 Mn in the Company’s history from Madhya Pradesh Government
Stable margins witnessed in the Pipes business despite volatile crude prices; continued inflow of pipe orders from Infrastructure Sector
Agro Processing Division back to solid revenue growth with even higher volume growth, Company has produced record quantities this season.
Vice Chairman and Managing Director of the company, Mr Anil Jain said:
"We are pleased to share with you the results for the quarter ended June 2018. We have witnessed growth in all divisions as per expectations. The socio economic conditions in the country, as well as other geographies, are robust to provide us growth opportunities in all the divisions. The monsoon has been good overall and this may spur retail growth in Micro Irrigation in the second half. The projects division is gaining strength, with a large order win recently and a strong pipeline of projects being tendered. Continued pipe orders from the domestic Infrastructure Sector and robust exports planned augur well for the Plastic Division. The Agro Processing Division is back to good overall growth and has processed record quantities of mangoes, against a background of significantly low prices of mango fruit in this season. Overall, the overseas subsidiaries’ performance has exceeded expectations during this quarter. We have become the largest Micro Irrigation Systems player in the US market, post our acquisitions in the previous year.
The way forward for us is a strong focus on execution in the remaining quarters of this financial year and an endeavor to generate higher free cash flow and deleverage in the second half of the year, while being mindful of the geo-political trade risks and impact of currency and oil market volatility".
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 1.2 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 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 JISLJALEQS and in BSE at code 500219.
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.