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Jain Irrigation Sys

₹68.6 4.2 | 6.6%

Market Cap ₹4581 Cr.

Stock P/E 4.2

P/B 0.9

Current Price ₹68.6

Book Value ₹ 80.6

Face Value 2

52W High ₹73.4

Dividend Yield 0%

52W Low ₹ 37

Jain Irrigation Sys Research see more...

Overview Inc. Year: 1986Industry: Plastic Products

Jain Irrigation Systems Ltd is engaged in providing solutions in agriculture, piping and infrastructure thru manufacturing of Micro Irrigation Systems, PVC Pipes, HDPE Pipes, Plastic Sheets, Agro Processed Products, Renewable Energy Solutions, Tissue Culture Plants, Financial Services and different agricultural inputs. It is the second largest micro-irrigation employer globally and is the largest producer of micro irrigation structures in India. It is likewise the biggest manufacturer of Mango pulp, puree, and concentrate internationally, and the second largest manufacturer of dehydrated onions. It is likewise India’s biggest manufacturer of polyethylene pipes, one of the three main PVC pipe producers, and is likewise the sector’s largest producer of Tissue Culture banana plants.

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Jain Irrigation Sys Share Price

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Jain Irrigation Sys Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 1645 1614 1373 1416 1082 1504 1745 1701 1362 1358
Other Income 5 6 1 0 29 22 1 2 2 6
Total Income 1650 1620 1373 1416 1111 1526 1747 1703 1364 1364
Total Expenditure 1468 1506 1292 1226 974 1332 1611 1482 1184 1193
Operating Profit 182 114 82 191 138 195 135 221 179 171
Interest 183 188 -63 109 98 108 154 105 99 108
Depreciation 84 84 62 58 58 59 61 59 60 59
Exceptional Income / Expenses 241 31 317 -2 -5 -1 -7 0 0 0
Profit Before Tax 155 -126 400 21 -24 27 -86 57 21 4
Provision for Tax 40 -54 120 7 -5 19 10 18 8 2
Profit After Tax 115 -71 279 13 -19 9 -97 38 12 2
Adjustments -9 -1 -2 -23 -72 -57 1074 -3 -4 8
Profit After Adjustments 107 -72 278 -10 -91 -49 977 35 9 10
Adjusted Earnings Per Share 2.1 -1.4 4.5 -0.2 -1.5 -0.8 15.7 0.6 0.1 0.1

Jain Irrigation Sys Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 5022 5828 6153 6322 6770 7843 8577 5923 5667 4733 5748 6166
Other Income 67 46 41 33 61 161 271 73 146 30 67 11
Total Income 5088 5874 6194 6356 6831 8004 8848 5996 5813 4763 5814 6178
Total Expenditure 4296 5058 5373 5504 5830 6891 7651 5954 5319 4308 5156 5470
Operating Profit 792 816 820 852 1001 1113 1197 41 494 456 658 706
Interest 486 468 469 491 459 479 514 692 746 355 469 466
Depreciation 170 205 244 297 301 339 313 347 351 241 236 239
Exceptional Income / Expenses -125 -230 -76 0 0 0 0 0 0 295 -15 -7
Profit Before Tax 13 -86 31 67 243 299 374 -996 -599 138 -89 -4
Provision for Tax 8 -46 -24 18 67 78 120 -295 -231 4 32 38
Profit After Tax 5 -40 55 49 176 221 254 -701 -369 134 -121 -45
Adjustments -1 -0 1 -0 -7 -2 -15 -15 -27 191 948 1075
Profit After Adjustments 3 -40 55 48 169 219 239 -715 -396 325 828 1031
Adjusted Earnings Per Share 0.1 -0.9 1.2 1 3.5 4.3 4.6 -13.9 -7.7 5.3 13.3 16.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 21% -1% -6% 1%
Operating Profit CAGR 44% 152% -10% -2%
PAT CAGR -190% 0% NAN% NAN%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 69% 53% 6% -3%
ROE Average -3% -3% -4% -1%
ROCE Average 4% 3% 3% 6%

Jain Irrigation Sys Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 2168 2176 2140 4064 4158 4351 4413 3471 2968 3656 5181
Minority's Interest 0 20 0 102 109 130 141 143 113 118 96
Borrowings 1433 1498 1696 1620 2220 2649 2940 2764 2492 3564 1386
Other Non-Current Liabilities 104 54 30 444 466 455 466 335 84 92 28
Total Current Liabilities 4023 4345 4378 4386 4054 4567 4798 6305 6809 4971 4214
Total Liabilities 7728 8093 8244 10617 11007 12152 12758 13018 12465 12402 10906
Fixed Assets 2609 2777 2761 4833 4777 5260 5541 5966 5556 5354 4131
Other Non-Current Assets 475 508 554 404 449 502 594 592 529 628 1412
Total Current Assets 4645 4808 4929 5380 5780 6390 6623 6460 6380 6420 5362
Total Assets 7728 8093 8244 10617 11007 12152 12758 13018 12465 12402 10906

Jain Irrigation Sys Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 330 232 194 299 374 111 197 117 236 403 300
Cash Flow from Operating Activities 428 574 660 440 674 1313 156 -675 299 476 45
Cash Flow from Investing Activities -342 -292 -228 -275 -417 -1060 -346 -258 303 -194 3138
Cash Flow from Financing Activities -183 -320 -325 -89 -520 -167 110 1046 -435 -385 -3365
Net Cash Inflow / Outflow -97 -38 107 76 -263 86 -80 113 167 -104 -182
Closing Cash & Cash Equivalent 232 194 301 374 111 197 117 230 403 300 118

Jain Irrigation Sys Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 0.07 -0.86 1.2 1.02 3.53 4.25 4.64 -13.87 -7.67 5.31 13.27
CEPS(Rs) 3.83 3.56 6.46 7.26 9.96 10.86 11 -6.86 -0.34 6.13 1.84
DPS(Rs) 0.5 0.5 0.5 0.5 0.75 1 1 0 0 0 0
Book NAV/Share(Rs) 47.24 46.98 46.21 85.23 86.72 84.38 85.58 67.31 57.55 58.87 82.31
Core EBITDA Margin(%) 12.88 11.63 11.12 11.33 12.61 11.34 10.3 -0.49 5.87 8.19 8.55
EBIT Margin(%) 8.84 5.77 7.13 7.72 9.42 9.27 9.88 -4.66 2.48 9.49 5.49
Pre Tax Margin(%) 0.22 -1.3 0.44 0.92 3.26 3.57 4.17 -15.3 -10.11 2.65 -1.29
PAT Margin (%) 0.08 -0.6 0.78 0.67 2.36 2.64 2.83 -10.76 -6.22 2.57 -1.75
Cash Profit Margin (%) 3.09 2.49 4.26 4.79 6.41 6.67 6.31 -5.44 -0.3 7.22 1.66
ROA(%) 0.06 -0.5 0.67 0.52 1.63 1.91 2.04 -5.44 -2.89 1.08 -1.04
ROE(%) 0.23 -1.84 2.53 1.57 4.29 5.2 5.8 -17.77 -11.45 4.07 -2.76
ROCE(%) 8.64 6.25 7.93 7.66 8.58 9.14 9.6 -3.02 1.46 4.93 3.93
Receivable days 136.92 103.48 97.74 104.32 109.1 104.6 112.2 162.93 163.33 169.87 119.68
Inventory Days 103.18 98.12 96.16 94.3 101.19 102.54 100.38 130.68 128.7 148.77 105.99
Payable days 173.78 146.46 143.01 141.09 146.14 153.53 148.89 158.73 121.26 136.43 111.75
PER(x) 909.9 0 51.43 59.37 26.54 25.05 12.71 0 0 7.68 2.57
Price/Book(x) 1.3 1.39 1.33 0.71 1.08 1.26 0.69 0.05 0.32 0.69 0.41
Dividend Yield(%) 0.81 0.77 0.81 0.83 0.8 0.94 1.7 0 0 0 0
EV/Net Sales(x) 1.27 1.18 1.1 1.05 1.22 1.22 0.95 1.16 1.28 1.84 1.02
EV/Core EBITDA(x) 8.05 8.42 8.26 7.77 8.25 8.58 6.82 165.99 14.69 19.11 8.92
Net Sales Growth(%) 2.06 16.06 5.57 2.76 7.08 15.86 9.35 -30.95 -4.32 -16.47 21.43
EBIT Growth(%) -29.36 -23.36 30.97 11.57 25.92 10.74 14.16 -134.19 148.36 236.11 -23.01
PAT Growth(%) -98.02 -980.94 237.08 -10.75 262.03 25.56 14.89 -375.57 47.38 136.31 -190.23
EPS Growth(%) -98.77 -1371.94 239.1 -15.21 248.03 20.34 9.01 -399.1 44.67 169.2 149.86
Debt/Equity(x) 1.77 1.87 1.98 1.02 0.97 1.03 1.19 2.01 2.28 1.83 0.76
Current Ratio(x) 1.15 1.11 1.13 1.23 1.43 1.4 1.38 1.02 0.94 1.29 1.27
Quick Ratio(x) 0.73 0.68 0.7 0.8 0.87 0.86 0.86 0.68 0.64 0.84 0.85
Interest Cover(x) 1.03 0.82 1.07 1.14 1.53 1.63 1.73 -0.44 0.2 1.39 0.81
Total Debt/Mcap(x) 1.42 1.41 1.55 1.5 0.93 0.84 1.8 42.53 7.4 2.73 1.88

Jain Irrigation Sys Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 28.64 26.91 26.91 28.36 28.36 28.36 27.46 26.12 26.12 26.12
FII 6.66 4.1 4.82 4.42 3.67 2.72 3.14 3.93 4.37 4.52
DII 0 12.6 12.6 11.25 11.24 11.24 10.88 10.34 10.35 10.34
Public 64.69 56.4 55.67 55.97 56.72 57.67 58.52 59.61 59.16 59.02
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Stock is trading at 0.9 times its book value
  • Debtor days have improved from 136.43 to 111.75days.
  • Company has reduced debt.

Cons

  • Promoter holding is low: 26.12%.
  • Company has a low return on equity of -3% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Jain Irrigation Sys News

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