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Jain Irrigation Systems Ltd. (JISL) - Drain Out Your Portfolio Of Jain Irrigation
Dalal Street Investment Journal
|July 8, 2019
Jain Irrigation Systems Ltd. (JISL) is an agribusiness company.
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Jain Irrigation Systems Ltd. (JISL) is an agribusiness company. It boasts a production capacity of more than 5,00,000 M.T. per annum, which is equivalent to 8,000 km/day. It is renowned for being the only manufacturer to own a DSIR approved R&D set-up. The company's micro-irrigation division is engaged in the manufacturing of precision-irrigation products and providing services such as soil survey, engineering design, and agronomic support. It also operates an expansive 2,300-acre hi-tech agri institute. The Jain piping division is the largest producer of thermoplastic piping systems including PE and PVC pipes and fittings for pipes ranging from 3 mm to 1,600 mm in diameter and in pressure ratings ranging from 1.00 kgf/cm2 to 25 kgf/cm2.
Financial Performance
The company delivered a dismal consolidated financial performance for the quarter ended March 2019. Its total income declined 7.01 percent YoY to 2,583.07 crore in Q4FY19 from 2,777.70 crore in Q4FY18. EBITDA plummeted 37.81 percent YoY to 248.89 crore in Q4FY19 from 400.21 crore in Q4FY18. EBITDA margin came in at 16.9 percent for the quarter. Net profit spiraled down 39.16 percent YoY to 55.47 crore in Q4FY19 from 91.18 crore in Q4FY18 due to the impact of forex conversion. Consequently, EPS sank 44.97 percent YoY to 1.04 in Q4FY19 from 1.89 in Q4FY18.
Despite the poor performance in the fourth quarter of FY19, the company showcased a positive set of numbers for the full year ended March 31, 2019. Total income from operations rose 7.93 percent YoY to 8,576.94 crore in FY19 from 7,946.76 crore in FY18. EBITDA declined 12.30 percent YoY to 925.62 crore in FY19 from 1,055.43 crore in FY18. The EBITDA margin stood at 14.6 percent for FY19. Net profit exhibited growth of 15.08 percent YoY to 250.48 crore in FY19 as compared to 217.66 crore in FY18. EPS rose 9.18 percent YoY to 4.64 in FY19 from 4.25 in FY18.
Operating Performance
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