Jain Irrigation bags Rs 227.7mn export order
Jain Irrigation the Rs.20 bn agri irrigation company has secured an export order for supply of PVC pipes and fittings as well as sprinkler system for irrigation use from Sugar Factory, Ethiopia.
The order is part of the expansion program of a state owned sugar unit. The Letter of Credit backed order for $5.3 mn (INR 227.7 mn) is to be completed over the next 20 weeks. It is the largest single export order of $5 mn plus secured by the Company in the MIS/SIS segment. It is significant to note that the last fiscal year’s total exports for drip and sprinkler irrigation systems completed by the Company were INR 215 mn, whereas this single order exceeds the last year’s volume.Mr. Ajit Jain, Jt. Managing Director of the Company said after the receipt of the order, “Our domestic sales growth for the irrigation division is already robust in this quarter at over 70% with success on crops like Cotton. This order to the African continent will allow us to maintain significant growth in export markets as well. We have also started getting increased order flows from our investee companies”
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