Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

Jain Irrigation Systems announces Q4FY20 results

Posted On: 2020-08-01 00:50:29

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

Key Highlights:

- Consolidated Revenue was at INR 16,362 Mn in Q4 FY20 on yoy basis, Standalone Revenue was at INR 3,825 Mn
- Consolidated EBIDTA was at INR 338 Mn in Q4 FY20, Standalone EBITDA was at INR (354) Mn
- Consolidated PAT was at INR (3,242) Mn in Q4 FY20, Standalone PAT was at INR (2,283) Mn
- Consolidated Revenue was at INR 62,158 Mn in year ended FY20, Standalone Revenue was at INR 19,588 Mn
- Consolidated EBIDTA was at INR 3,018 Mn in year ended FY20, Standalone EBITDA was at INR 331 Mn
- Consolidated PAT was at INR (7,194) Mn in year ended FY20, Standalone PAT was at INR (5,083) Mn
- Global order book now stands at over INR 43 billion

Vice Chairman and Managing Director of the Company, Mr Anil Jain said: "The audited financial results of the Company for the fourth quarter and year ended March 31, 2020 reflect the challenges faced by the Company. The standalone performance is expectedly affected due to liquidity constraints during the year. As was mentioned earlier, the debt resolution was initiated in second quarter of the year and we have progressed a lot on the path towards debt resolution plan and are now in final stages subject to approvals from lenders. The performance of the overseas companies has seen a relative outperformance, compared to the Indian operations. The profitability is also impacted due to certain significant prudent provisions for doubtful receivables and one - off expenses considering current economic environment.

Admittedly, this is the worst financial performance in our history of the Company. The period of last twelve months has been used for taking appropriate steps for turning around. Post implementation of the resolution plan, the Company's ability to optimize the operations will improve significantly. We believe that the lost ground will be regained in a calibrated manner. The Company has a great mix of industrial and consumer products which are known in the market and stand for high utility and quality. Our manufacturing facilities have significant capacities, which are scalable and resilient to changes. Also, in post Covid world, agriculture & finance shall do much better.

The Covid - 19 pandemic is also a reason for the adverse performance, since the fourth quarter is the biggest quarter for us historically. Given these challenging conditions, the Company has delivered a reasonable performance of customer retention and cost reduction in most geographies. Our employees' health and safety has been our top priority, and we launched programs for safe return to work, skilling and wellness post April.

The recent initiatives announced by the Government in the areas of agriculture and indigenization gives us many opportunities in our sectors to scale up. The mood in the Company is to work with gusto like a young Company, which has also a rich legacy. We have a good order book and our focus in FY 2021 is to find ways and means to minimize working capital, reduce cost, build volumes and recover the receivables. We are sincerely thankful to the support given by our employees, banks, financial institutions, advisors and well - wishers during these tough times."

Shares of JAIN IRRIGATION SYSTEMS LTD. was last trading in BSE at Rs.10.1 as compared to the previous close of Rs. 10.24. The total number of shares traded during the day was 289879 in over 560 trades.

The stock hit an intraday high of Rs. 10.54 and intraday low of 9.75. The net turnover during the day was Rs. 2901647.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Wonderla Holidays Ltd announces financial results for Q1FY21

Affle reports strong performance for Q1 FY2021

Magma Fincorp Q1FY21 AUM at Rs 15,922 Cr, PAT at Rs 38 Cr vs Rs 11 Cr YoY

Amber Enterprises India Ltd Q1FY21 loss at Rs. 22.44 crore

Neogen Chemicals Ltd Q1 net profit at Rs. 6.11 crore

Majesco shareholders to receive $16.00 in cash per share, agreement with Thoma Bravo amended

Shilpa Medicare Ltd Q1FY21 consolidated PAT zooms to Rs. 86.31 crore

Magma Fincorp Ltd reports Rs. 37.71 crore consolidated PAT in Q1

VBC Ferro Alloys Ltd posts Q1 loss of Rs. 0.78 crore

Wonderla Holidays Ltd Q1 loss at Rs. 14.51 crore

Rama Phosphates Ltd Q1 PAT up at Rs. 6.56 crore

Shaily Engineering Plastics Ltd posts Rs. 3.02 crore loss in Q1

Shilp Gravures Ltd Q1 net profit at Rs. 0.73 crore

Affle India Ltd posts consolidated net profit of Rs. 18.77 crore in Q1

SPL Industries Ltd Q1 net profit at Rs. 2.64 crore

Fire at Nandan Denim's factory

Avanti Feeds Ltd board to consider Q1 results on Aug 27, 2020

Minda Industries Ltd issues commercial paper of Rs. 25 crore

Info Edge India Ltd closes QIP, fixes issue price as Rs. 3090

Kriti Nutrients Ltd Q1FY21 net profit rises to Rs. 8.16 crore

TVS Electronics Ltd Q1 loss at Rs. 9.75 crore

ZEN Technologies Ltd Q1 loss at Rs. 1.33 crore

DCB Bank Ltd reports Rs. 79.38 crore PAT in Q1FY21

Arihant Capital Markets Ltd Q1FY21 consolidated PAT at Rs. 4.88 crore

RAMCO Systems Ltd posts consolidated PAT of Rs. 13.81 crore in Q1FY21

Bajaj Hindusthan Sugar Ltd Q1 consolidated loss at Rs. 52.89 crore

ARO Granite Industries Ltd Q1 net profit at Rs. 0.34 crore

Nitin Spinners Ltd Q1 loss at Rs. 9.15 crore

Sarda Energy & Minerals Ltd Q1 FY21 consolidated PAT jumps QoQ to Rs. 35.47 crore

Kriti Industries India Ltd Q1 consolidated net profit at Rs. 6.84 crore

Ambika Cotton Mills Ltd posts drop in Q1 PAT to Rs. 5.01 crore

Divi's Laboratories Ltd Q1FY21 consolidated net profit climbs to Rs. 492.06 crore

Geojit Financial Services - Company Update - August 2020 - ICICI Securities

ELGi's AB 'Always Better' Series powers the Indian pharmaceutical industry

Dish TV India to telecast live 'With Sadhguru in Challenging Times' on DishTV and D2H platforms

Newgen's Virtual Meet on Preparing for a Digital-Only World Receives Overwhelming Response

PNB Housing Finance Limited Announces MD & CEO Transition

Canara Bank slashes Interest rates on loans/advances with effect from 07.08.2020

Abbott India Ltd posts Rs. 180.35 crore PAT in Q1FY21

FDC Limited to acquire further stake in South Africa firm

Energy Development Company Ltd board recommends dividend of Rs. 0.50

Hero MotoCorp donates unique first responder vehicles to Civil Hospital, Gurugram

Mirchi revenues fall 72%, but market share rises to 33%

FDC Ltd board approves buy-back at Rs. 450

Gujarat Themis Biosyn Ltd board to approve quarterly results on Aug 13, 2020

Ravileela Granites Ltd Q1 consolidated net profit up at Rs. 0.74 crore

Indowind Energy Ltd posts consolidated PAT of Rs. 3.40 crore in Q1

FDC Ltd reports consolidated PAT of Rs. 91.72 crore in Q1FY21

Mercury Laboratories Ltd Q1 PAT at Rs. 0.96 crore

BATA India Ltd reports loss of Rs. 100.88 crore in Q1FY21

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019