Jain Irrigation Systems Limited has informed the Exchange about Transcript
JISLJALEQS · price
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Jain Irrigation reported Q1 FY26 revenue of ~INR1,550 crores, up ~5% YoY, with overall EBITDA margin improving by ~1 percentage point despite a deflationary environment. Hi-Tech Agri grew ~30% (EBITDA at 16.6%, up from 15.2%), while the plastic segment fell ~10% due to an early monsoon hitting domestic piping demand, and agro processing remained flat. Solar pumps surged to over INR50 crores (from under INR2 crores YoY) and exports grew ~40% to INR130 crores. Management reaffirmed its 15%+ full-year revenue growth guidance, set a 13-15% consolidated EBITDA target, and outlined plans to potentially double the business in 3-4 years. Gross debt was largely flat at ~INR3,590 crores, with INR150 crores from warrant conversions (1/3 promoter, 2/3 institutions) supporting working capital.
Positive: clear margin and growth guidance, fast-growing solar pump and export businesses, and a credible 3-year debt reduction roadmap (term debt to zero by FY28, debt/EBITDA from 3.5x to under 2x). Watch-outs include weak plastic volumes, a pending ~INR750 crores of government receivables, and management's openness to further equity dilution if needed for growth.