Jain Irrigationthe largest Micro Irrigation Company in the country and the second largest globally, has announced unaudited standalone results for the 1st quater FY14-15.
Revenue has grown by 18% on YOY basis. Domestic Revenue has grown by 6.6%. There is strong growth in Fruit business which grew by 47.7%, onion Dehydration grew by 31.7%. MIS grew by 10.2%, PVC Pipes declined by 20.6% due to low offtake arising out lack of availability of raw material, PE pipe declined by7 .5%.
EBITA for the quater year is at Rs 1,624 million for current quater against 1,787 million in corresponding quater in previou year.
Anil Jain, Managing Director said," We have acheived substantial positive movement in MIS domestic business. Significant growth is back on track. The company is sucessfully implementing project and also was to be secure prestigious project from Himachal Goverment of Rs975mn in the quater.Food business out of India grew rapidly on the back of strong domestic demand for pulp."
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