Un-Audited Standalone and Consolidated Financial Results For the quarter ended June 30, 2021

Jain Irrigation Systems Limited, the largest Micro Irrigation Systems Company in the country and second largest globally, has announced un-audited standalone and consolidated results for first quarter of FY 2021-22.

Highlights of Q1 FY2021-22:

• Consolidated revenue in Q1 registered growth of 32.8% on y-o-y basis

• Q1 FY22 consolidated revenue is at INR 17,775 Mn and standalone revenue is at INR 6,968 Mn

• Consolidated EBIDTA margin increased from 6.0% to 14.8% in Q1 y-o-y and standalone EBITDA margin increased from 1.8% to 14.7%.

• Q1 FY22 consolidated EBITDA is at INR 2,638 Mn, standalone EBITDA is at INR 1,022 Mn

• Q1 consolidated PAT is at INR 134 Mn.

• Global order book now stands at INR 38.04 Billion

The Vice Chairman and Managing Director of the Company, Mr Anil Jain said:
"We are pleased to announce the unaudited financial results of the Company for the first quarter of FY 2021-22. There has been a good y-o-y increase of 45.3% in standalone revenue and 32.8% in consolidated revenue. If we look at q-o-q, both these revenues are at a level similar to the previous quarter (fourth quarter is seasonally the biggest). It is heartening to see this rebound in level of activity at the beginning of this year itself, both in Indian and overseas operations. This is despite a resurgence of covid cases in the quarter, and despite also some supply chain and logistics disruption in exports and increase in costs therein. The operating margins have displayed a marked improvement.

This is an outcome of the Management continuously focused on increasing the operating leverage and on identifying areas of cost improvement. The present order book is at Rs 3,804 crores which gives the revenue visibility for next quarters. The working capital efficiency has improved by 31% (188 days) for standalone operations on y-o-y basis in terms of reduction in the DSO (days sales outstanding), whereas, on q-o-q basis, this has improved by 8% (36 days); whereas, for consolidated Company, it has improved by 5% (13 days) on y-o-y basis and flat on q-o-q basis.

The IPCC Report on Climate Change released yesterday highlights that the Earth’s climate is changing across every region and global warming will reach critical tolerance thresholds for agriculture. This underscores the importance of our agri products and services in years and decades to come. "Water is Life" and our solutions allow most efficient use of water to create best nutrition for all of us and continuous improved incomes for millions of farmers around the world.

There has been a good progress on the Resolution Plan of the Company. Progress has also happened on Resolution/Restructuring of debt of subsidiary companies. We remain optimistic about early and successful completion of all these efforts based upon current status of the Plans. We again thank the various stakeholders - employees, banks, financial institutions, shareholders, suppliers and customers - for their continued support."

About Jain Irrigation
Our Company, Jain Irrigation Systems Limited (JISL) with it’s motto ‘Small Ideas, Big Revolutions’ with more than 12,200 associates worldwide and revenue of Rs 56.7 Bn, is an Indian multinational company with manufacturing plants in 33 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.

DISCLAIMER
The information in this release has been included in good faith and is for general purposes only. It should not be relied upon for any specific purpose and no representation or warranty is given as regards to its accuracy or completeness. No information in this press release shall constitute an invitation to invest in Jain Irrigation Systems Limited. Neither Jain Irrigation Systems Limited, nor their or their affiliates’ officers, employees or agents shall be liable for any loss, damage or expense arising out of any action taken on the basis of this release, including, without limitation, any loss of profit, indirect, incidental or consequential loss.

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