Jain Irrigation Systems Limited has informed the Exchange about Transcript
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Jain Irrigation reported Q2 FY26 consolidated revenue of Rs. 1,432 crores, up 20% year-on-year, with EBITDA growing 43% to Rs. 13.9% margin. High-tech agri division led with 39% growth, plastic grew 9.5%, and agro-processing grew 15%. H1 FY26 revenue stood at ~Rs. 3,000 crores with Rs. 400 crores EBITDA. Management reaffirmed full-year FY26 growth guidance of 15%+, with a strong order book of Rs. 1,900 crores (Rs. 1,500 crores to be executed by March 2026). Government EPC receivables of ~Rs. 900 crores are expected to flow in by March 2027. A new beverage bottling partnership with a global player is expected to add Rs. 400-500 crores revenue from FY27. Management also plans to list the food subsidiary (Jain Farm Fresh) in calendar 2026, and tissue culture capacity is set to grow 50% over three years. GST cut on drip irrigation from 12% to 5% is expected to boost demand.
Strong margin expansion and cash flow generation support the deleveraging story, though government receivable delays remain a watchpoint. The 15% growth guidance, expanding order book, and new beverage bottling revenue from FY27 are positive signals for medium-term earnings. Shareholders can expect improving net margins (target 5-7%) as debt reduces and EBITDA margin moves toward 15-16%.