• 15^th Aug, 2019
• location

Un–Audited Standalone and Consolidated Financial Results For the quarter ended June 30, 2019

Jain Irrigation Systems Limited, the largest Micro Irrigation Systems Company in the country and second largest globally, has announced un-audited standalone and consolidated results for first quarter of FY 2020.

Highlights of Q1:

• Operations profitable in the first quarter with better margins

• Underlying robustness maintained, with slight deferral in execution

• Revenue decrease marginal despite headwinds faced by the Company

• Consolidated EBIDTA at INR 2,695 Mn

• Global order book at INR 46,375 Mn

The Vice Chairman and Managing Director of the Company, Mr Anil Jain said:
"We are pleased to share the unaudited first quarter result for period ending 30th June, 2019. The Company has fared reasonably well in the first quarter as is reflected in the profitability numbers. This is despite certain headwinds faced in last few months. We have mentioned about these challenges in our communications in June 2019. The Company is focused in the short run to resolve the Balance Sheet and cash flow related issues. The underlying fundamentals of the business are undoubtedly robust. The Company has already started work on its stated objective of significant deleveraging. We are making efforts to correct the present situation in the coming months. This is also based on our belief that the financial ecosystem will turn more conducive sooner than later. We are optimistic that a good monsoon and the various initiatives announced by the Government in water infrastructure and irrigation sectors would give us enough opportunities to serve the economy in the medium and long term in a sustainable manner".

About Jain Irrigation
Our Company, Jain Irrigation Systems Limited (JISL) with it’s motto ‘Small Ideas, Big Revolutions’ with more than 12,200 associates worldwide and revenue of ∼USD 1.2 Bn, is an Indian multinational company with manufacturing plants in 33 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 atJISLJALEQS and in ESE 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.