Jain Irrigation Unaudited Standalone and Consolidated Financial Results For the quarter ended June 30, 2020

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Mumbai, 15th September 2020 (GNI): 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 the first quarter of FY 2021.

Highlights of Q1 FY 21:
 Consolidated Revenue was at INR 13,876 Mn in Q1 FY21,Standalone revenue was at 4,710 Mn
Consolidated EBIDTA was at INR 777 Mn in Q1 FY21, Standalone EBITDA was at INR 86 Mn
Consolidated PAT was at INR (1,586) Mn in Q1 FY21, Standalone PAT was at INR (1,029) Mn
Global order book now stands at over INR 42 billion
For more information on the financials, kindly visit www.jains.com

Vice Chairman and Managing Director of the Company, Mr Anil Jain said:

“A major part of this quarter was under lockdown due to the pandemic and our headquarter district of Jalgaon is one of the worst affected. We have taken various precautionary measures while running the operations at all our manufacturing locations and offices. Like other industries, this has impacted productivity on certain fronts as associates came in and out of quarantine due to safety protocols during this period. However, we maintained a steady pace of activity at the plants and offices/work from homes to ensure completion of a number of activities. In terms of performance, the India operations have done well with a turnover of Rs 500 crores by being within means and by selling on cash basis, though the capacity utilization has been expectedly low. The overseas operations have done comparatively better and continue to see a steady demand flow for the products.

Good progress has been made on the Debt Resolution activity in this period and we are inching closer to getting the India debt resolved with the lenders. We have coordinated various activities with the wide consortium of banks, auditors and advisors during these Covid times. 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 and wellness post April.

We have many things to look forward to in the remaining quarters of the year. The Management continues to make a good effort to turning around the fortunes of the Company. We pray that nature will soon help in overcoming the covid virus and things normalize” stated in the press release.

About 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. Please visit us at www.jains.com