Highlights:

* The sales at Rs 411.7 Crores (Rs.4.117 bn) have exhibited a growth of about 36% as compared to the last year
* In terms of the business segments, MIS at 68.5%, PE piping at 150.2% and fruit at 169.2% continued to exhibit a strong demand led growth for the Company’s core competence areas.
* The order book for the last quarter is upwards of Rs.600 crores
* The earnings before depreciation, Interest and Tax for the quarter at Rs. 83.8 Crores (Rs.0.838 bn) has grown by 71% over the last years level of Rs.49 Crores (Rs. 0.49 bn)
* For the YTD 9 months the Company has reported
o Sales growth of about 41% at Rs. 1068.4 crores (Rs. 10.684 bn),
o EBIDTA at Rs.203.1 crores (Rs. 2.031 bn) is almost 70% higher as compared to last year’s level
o The PAT for the 9 month period is Rs.103.1 crores (Rs.1.031 bn) is 58.3% higher than the last year’s corresponding level.

Agri and irrigation major, Jain Irrigation has declared strong standalone results for the quarter ended December 2007.

The sales at Rs 411.7 Crores (Rs.4.117 bn) have exhibited a growth of about 36% as compared to the last year Q3 sales of Rs. 302.3 Crores (Rs.3.023 bn). The domestic sales at Rs.309.1 Crores (Rs.3.091 bn) grew at a robust 51.7% over the last year’s level of Rs. 203.7 Crores (Rs.2.037 bn). The exports sales at Rs.102.6 Crores (Rs.1.026 bn) grew at 4.1% over the last years corresponding level of Rs.98.6 Crores (Rs.0.986 bn). This reflects a positive and somewhat conscious shift in dependence on domestic business which insulates the Company’s from vagaries of the uncertain international situation.

In terms of the business segments, MIS at 68.5%, PE piping at 150.2% and fruit at 169.2% continued to exhibit a strong demand led growth for the Company’s core competence areas. It also reflects the capex incurred in the last 18 months in these businesses, which helped build the capacities in line with the demand growth expectations of the management. The order book for the last quarter is upwards of Rs.600 crores (Rs. 6 bn).

The earnings before depreciation, Interest and Tax for the quarter at Rs. 83.8 Crores (Rs.0.838 bn) has grown by 71% over the last years level of Rs.49 Crores (Rs. 0.49 bn), but most of the margin gains have been absorbed by the higher interest burden of Rs. 29.59 Crores (Rs. 0.296 bn) for the quarter, against Rs. 16.76 Crores (Rs. 0.168 bn) for the corresponding quarter last year. The Profit before Tax (Rs. 45.26 Crores / Rs. 0.453 bn) has shown a rise of 36.74% against the last year’s level of Rs.33.1 Crores (Rs.0.331 bn). The Profit after Tax at Rs.44.9 Crores (Rs. 0.449 bn) has shown increase of 43.4% against Rs. 31.3 Crores (Rs.0.313 bn) for the corresponding quarter last year.

For the YTD 9 months the Company has reported sales growth of about 41% at Rs. 1068.4 crores (Rs. 10.684 bn), while the EBIDTA at Rs.203.1 crores (Rs. 2.031 bn) is almost 70% higher as compared to last year’s level. The PAT for the 9 month period is Rs.103.1 crores (Rs.1.031 bn) is 58.3% higher than the last year’s corresponding level.

The Company has made efforts to stock higher inventory levels in view of the rising RM prices while interest costs have been generally moving up, hence the interest costs have gone up significantly.

Mr. Anil Jain, Managing Director said after the results” Company expects significantly positive growth in coming busy season in all major divisions on the back of increased incomes in agri sector and higher spends on water related infrastructure.”

Sourced From: Hanmer & Partners Communications Pvt. Ltd

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