Decent FY19 but Subdued Q4FY19: Jain Irrigation Systems Ltd has experienced reasonable growth in full year FY19wherein its consolidated top-line at Rs. 85769 Mn has grown at 9.4% whereasbottom-line at Rs. 2542 Mn has grown by 14.9% over FY18.

Decent Q3FY19 - Focus on Growth with Value Creation: The management policy to aggressively push growth has yielded good result for the company as it has managed to emerge as 2nd largest MIS player in the world and market leader in India over the years.

Decent Earning Performances: Better Growth Prospect in Place: Jain Irrigation Systems Limited has posted a consolidated revenue of Rs. 18951Mn in Q2FY19, registering a growth of 20.4% on YoY basis.

Marching Towards a New Era of Development: Jain Irrigation System Limited has posted a consolidated revenue growth of 24.4% to Rs. 20920 Mn on YoY basis in Q1FY19 as against our estimate of Rs. 22607 Mn having registered positive growth of 16.6% in Hi-tech Agri Input Products Division, 15.0% in Plastics Division, 39.2% in Agro Processing Division and 35.3% in Other Division on YoY basis.

Jain Irrigation Systems Ltd (JISL), for Q1FY19 on a consolidated basis, reported good numbers. Revenue grew 24% YoY to 2,092 crore, with better growth across business segments Hi-Tech Agri Input products (48% of Q1FY19 revenue) up 17%, Plastic (28%) up 15% and agro processing (22%) up 39%. EBITDA grew 15% to 270 crore, with margins contracting by 101bps to 12.9%, due to high value inventory in the food business. Higher other income (impact of 30 crore due to mark to market - MTM gain on listed bond in Singapore), led to net profit growth of 84% to 82 crore. As per JISL, net debt increased by 13% YoY to 4,579 crore...

Revenue grew by 24.4% YoY to INR 20.9bn against our estimates of INR 19.6bn. The growth was led by agro processing segment (+39% YoY). Further, steady growth from Hi-tech and plastic segment also supported overall growth for the qtr. The revenue from hi-tech segment was up by 17% YoY to INR 10.1bn, while the same from plastic remained higher by 15% YoY to INR 5.9bn supported by low base. OPM dipped by 101bps YoY to 12.9% due to contraction in operational performance into Hi-tech and agro segments. OPM for both segment fell by 78bps YoY & 229bps YoY respectively. On the other side, plastic segment OPM improved by 65bps YoY to 9% due to improvement in the sales mix of PE. EBITDA grew by 15.4% YoY to INR 2.7bn against our estimates of INR 2.6bn. PAT was up by 84.4% YoY to INR 0.8bn against our estimates of INR 0.5bn. The beat is due to higher other income (+356% YoY)....

Strengthening Demand for MIS and Pipes: The company has registered a significant growth of 25.6% in top-line in Q4FY18 on the back of 33.6% growth in Hi-tech Agri Input Product sales and 28.9% growth in sales of Plastic Division, while growth in Agro Processing Division remained muted rewpover the same quarter of FY17 on YoY basis.

Jain Irrigation Systems Ltd (JISL), for Q3FY18 on a consolidated basis, reported good numbers. Revenue increased by ~31% YoY to 1,890 crore, on the back of ~49% growth in the Hi-tech Agri Input Products Division (52% of Q3FY18 revenue), 22% growth in the Plastics Division (25%) and 6% growth in the Agro Processing Division (20%). Higher other income and stable finance cost led to net profit increasing by 11x to 67 crore. EBITDA margins contracted by 129bps to 11.8%, on account of lower margins in the food business (impact of fire incidence and market spends for launch of consumer brand food). Better collection in the Micro...

Robust Q3FY18 Performance: Consolidated revenue in Q3 grew 30.8% on YoY basis on account of positive growth in major business divisions. Reported EBITDA margin fell 129 bps on YoY basis but accounting for non recurring expenses, EBITDA margin was flat at 13%. EPS grew during the period by 10.8% on YoY basis.

Jain Irrigation Systems Ltd Q3FY18 results comment Revenue rose by 18.23% to Rs. 1889.63 Cr in Q3FY18 when compared to the previous quarter.

Reasonable Quarter with Promising Project and Agro Business: JISLhas posted moderate consolidated numbers wherein revenue from operations for Q2FY18 came at Rs.15982 Mn as against Rs.14780 Mn in Q2FY17 exhibiting moderate growth of 8.1% on YoY basis.

Jain Irrigation Systems Ltd Q2FY18 results comment Revenue fell by 4.94% to Rs. 1598.21 Cr in Q2FY18 when compared to the previous quarter. On the other hand, it increased by 9.91% when compared with Q2FY17.

Subdued Set of Earnings: Jain Irrigation Systems Limited has posted subdued set of consolidated numbers wherein revenue from operations for Q1FY18 came at Rs.17335 Mn as against Rs.17175 Mn of Q1FY17 and Rs.22866 Mn of Q4FY17 thereby exhibiting moderate growth of 0.9% on YoY basis but de-growth of 24.2% on QoQ basis.

Jain Irrigation Systems Ltd (JISL) reported slightly subdued Q1FY18 result, largely owing to GST related destocking. Net sales increased by 1.3% YoY while EBITDA and PAT declined by 1.4% and 4.1% respectively over Q1FY17.

Revenue fell by 24.66% to Rs. 1681.22 Cr in Q1FY18 when compared to the previous quarter Revenue fell by 24.66% to Rs. 1681.22 Cr in Q1FY18 when compared to the previous quarter

Irrigation Infrastructure: Huge Opportunities - Jain Irrigation System Ltd (JISL) has witnessed significant improvement in its topline, EBITDA and bottomline in Q4FY17 on QoQ and YoY basis. For the whole year FY17, performance has been decent wherein companys consolidated revenue (including other income) crossed Rs.70000 Mn mark coming at Rs.70005 Mn, EBITDA (including other income) too crossed Rs.10000 Mn and came at Rs.10015 Mn whereas PAT experiencedmultifold growth to Rs.1762 Mn over FY16 in the process registering growth of 7.4%, 17.6% and 262.1% YoY basis. Such a good showing has been a result of positive sales across business divisions wherein Hi-tech Agri Input Products Division, Plastic Division and Agro Processing division have grown at 6.7%, 6.9% and 3.5% respectively on YoY basis.

Jain Irrigation Systems Ltd (JISL) reported a strong Q4FY17 result, in-line with our expectations. Net sales increased by 9.9% yoy, led by healthy growth in all the business divisions. EBITDA increased by 9.4% yoy while PAT jumped up by 78% yoy to Rs 44.4crs. The company's debt repayment initiative has paid off well resulting in saving in interest cost in Q4FY17. Maintain BUY.

Revenue increased by 54.79% to Rs. 2231.63 Cr in Q4FY17 when compared to the previous quarter.

It reported healthy Q3FY17 results, beating the demonetization woes. Net sales increased by 4.6% yoy, in the challenging demand environment. EBITDA and PAT increased by 27.7% yoy and 126.7% respectively. Prudent operating management and working capital efficiency led to margin improvement.

Governments Thrust on Irrigation and Infrastructure to be Catalyst for Growth: Overall Stable Set of Numbers: Positive Future Guidance: Jain Irrigation System Ltd. has delivered stable set of numbers wherein it has registered positivegrowth across segments in Q3FY17 and 9MFY17. On consolidated basis in Q3FY17, top line increased to Rs.14750 Mn from Rs.14093 Mn, registering YoY growth of4.7%, EBITDA grew to Rs.1894 Mn from Rs.1483 Mn, marking YoY growth of 27.7% and 232 bps YoY margin improvements and PAT witnessed turnaround on YoY basis to Rs.62 Mn from the loss of Rs.230 Mn resulting in 205 bps YoY PAT marginimprovement over the same quarter period of FY16 YoY basis.