Unaudited Standalone and Consolidated Financial Results For the Quarter & Half year ended September 30, 2020

Mumbai, 11th November 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 second quarter & half year of FY 2021.

Highlights of Q2 and H1 FY 21:

§  Consolidated Revenue was at INR 12,683 Mn in Q2 FY21,Standalone revenue was at 3,947 Mn

§  Consolidated EBIDTA was at INR 734 Mn in Q2 FY21, Standalone EBITDA was at INR 58 Mn

§  Consolidated PAT was at INR (1,703) Mn in Q2 FY21, Standalone PAT was at INR (1,069) Mn

§  Consolidated Revenue was at INR 26,559 Mn in H1 FY21,Standalone revenue was at 8,657 Mn

§  Consolidated EBIDTA was at INR 1,512 Mn in H1 FY21, Standalone EBITDA was at INR 144 Mn

§  Consolidated PAT was at INR (3,290) Mn in H1 FY21, Standalone PAT was at INR (2,099) Mn

§  Global order book now stands at over INR 43 billion

For more information on the financials, kindly visit www.jains.com

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

“The Company is passing through a phase where we are overcoming shortcomings of the past and, at the same time, gearing towards laying the building blocks for the future. This essentially means that focus is on operations and efficiency improvement in the existing businesses and also on making choices for extensions to the businesses. The macro environment presents good opportunities and hence the need to make these choices for vertical and horizontal growth.

The Q2 performance has been steady, in India and abroad, on expected lines, given the situation of debt and the pandemic. The overseas businesses have shown resilience in all formats and confirm the underlying demand for, and the edge of, our products.

We continue to take all the precautionary measures and have maintained highest safety standards during the pandemic while running and managing the operations, though the overall capacity utilization has remained low. We have also made progress on the debt resolution front. Various deliberations and negotiations with all the lenders have been done in order to ensure that the interest of all stakeholders including lenders is protected. We expect to complete the process over next few months.

The Management continues to make a good effort to turning around the fortunes of the Company. We continue to seek the fervent support of our associates, bankers, customers, suppliers and well-wishers in our endeavors”, 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