Jain Irrigation Systems Ltd

Jain Irrigation Systems Ltd

₹ 75.0 -3.60%
12 Jul - close price
About

Jain Irrigation Systems Limited is engaged in providing solutions in agriculture, piping and infrastructure through 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. [1]

Key Points

Market Position
JISL is the world's second-largest micro-irrigation company and India's largest manufacturer of micro-irrigation systems. It is also the country's largest polyethylene pipe producer, one of the top three PVC pipe producers, and the world's largest tissue culture banana and pomegranate plant producer. Additionally, JISL is the second-largest dehydrated onion producer globally and the largest producer of mango pulp, puree, and concentrate in India. [1]

  • Market Cap 5,085 Cr.
  • Current Price 75.0
  • High / Low 84.2 / 40.8
  • Stock P/E 55.9
  • Book Value 81.5
  • Dividend Yield 0.00 %
  • ROCE 5.81 %
  • ROE 1.72 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.92 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -6.35% over past five years.
  • Promoter holding is low: 26.1%
  • Company has a low return on equity of 5.93% over last 3 years.
  • Promoters have pledged 58.9% of their holding.

* 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.

Peer comparison

Sector: Plastic products Industry: Plastics Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,794 1,778 1,645 1,614 1,373 1,416 1,082 1,504 1,745 1,701 1,362 1,358 1,727
1,640 1,516 1,475 1,506 1,300 1,227 975 1,327 1,610 1,486 1,188 1,193 1,503
Operating Profit 154 262 169 107 73 189 107 177 136 215 173 165 224
OPM % 9% 15% 10% 7% 5% 13% 10% 12% 8% 13% 13% 12% 13%
126 6 246 37 326 -20 -45 -41 1,066 4 2 13 -56
Interest 192 185 183 188 -63 109 98 108 154 105 99 108 106
Depreciation 81 84 84 84 62 58 58 59 61 59 60 59 65
Profit before tax 7 -1 148 -126 399 2 -95 -31 987 55 17 11 -3
Tax % -583% 1,096% 27% 43% 30% 464% 6% -62% 1% 33% 50% 21% -270%
49 13 108 -72 279 -6 -90 -50 977 37 8 9 -11
EPS in Rs 0.99 0.25 2.15 -1.45 4.69 -0.16 -1.50 -0.81 16.16 0.57 0.13 0.15 -0.13
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
5,016 5,821 6,117 6,281 6,715 7,800 8,536 5,891 5,631 7,078 5,690 6,147
4,289 5,051 5,338 5,460 5,770 6,846 7,610 5,942 5,283 6,372 5,126 5,364
Operating Profit 727 770 779 820 945 954 926 -51 348 706 564 784
OPM % 14% 13% 13% 13% 14% 12% 11% -1% 6% 10% 10% 13%
-59 -184 -35 34 59 163 275 75 116 611 1,004 -43
Interest 486 468 469 491 459 479 514 692 746 558 469 419
Depreciation 170 205 244 297 301 339 313 347 351 337 236 243
Profit before tax 13 -86 31 67 243 299 374 -1,014 -633 422 863 79
Tax % 64% 54% -78% 27% 27% 26% 32% 29% 36% 22% 4% 46%
4 -40 55 49 176 221 254 -719 -403 329 832 43
EPS in Rs 0.07 -0.90 1.25 1.06 3.68 4.42 4.82 -14.41 -7.97 5.48 13.69 0.68
Dividend Payout % 738% -58% 42% 49% 21% 24% 22% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 1%
5 Years: -6%
3 Years: 3%
TTM: 8%
Compounded Profit Growth
10 Years: -2%
5 Years: -17%
3 Years: 30%
TTM: -89%
Stock Price CAGR
10 Years: -4%
5 Years: 26%
3 Years: 30%
1 Year: 79%
Return on Equity
10 Years: 1%
5 Years: -2%
3 Years: 6%
Last Year: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 91 92 92 95 96 103 103 103 103 122 125 137
Reserves 2,061 2,083 2,047 3,969 4,062 4,248 4,310 3,368 2,865 3,480 5,011 5,304
3,811 4,060 4,231 4,124 4,033 4,453 5,247 7,159 6,974 6,767 3,967 4,040
1,765 1,858 1,889 2,428 2,815 3,348 3,097 2,388 2,730 2,180 1,879 1,716
Total Liabilities 7,728 8,093 8,260 10,617 11,007 12,152 12,758 13,018 12,671 12,549 10,981 11,198
2,609 2,777 2,761 4,833 4,803 5,284 5,565 5,989 5,577 5,372 4,147 4,242
CWIP 75 81 53 60 64 122 139 56 21 25 32 26
Investments 4 1 62 106 81 85 83 86 88 73 1,143 1,190
5,041 5,234 5,384 5,618 6,058 6,661 6,971 6,887 6,985 7,078 5,659 5,740
Total Assets 7,728 8,093 8,260 10,617 11,007 12,152 12,758 13,018 12,671 12,549 10,981 11,198

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
428 574 660 440 674 1,313 156 -675 299 476 45 535
-342 -292 -228 -275 -417 -1,060 -346 -258 303 -194 3,138 -315
-183 -320 -325 -89 -520 -167 110 1,046 -435 -385 -3,365 -251
Net Cash Flow -97 -38 107 76 -263 86 -80 113 167 -104 -182 -31

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 142 113 117 126 124 118 128 174 161 121 140 132
Inventory Days 223 201 197 196 229 214 197 240 231 209 190 191
Days Payable 173 147 144 140 156 173 140 124 113 102 106 89
Cash Conversion Cycle 192 167 170 182 197 159 186 290 279 228 224 234
Working Capital Days 172 154 148 158 146 136 154 221 221 212 226 227
ROCE % 11% 10% 9% 8% 8% 9% 9% -3% 0% 4% 4% 6%

Shareholding Pattern

Numbers in percentages

4 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
28.64% 28.64% 26.91% 26.91% 28.37% 28.37% 28.37% 27.45% 26.12% 26.12% 26.12% 26.12%
5.20% 6.66% 5.16% 5.88% 5.46% 4.71% 3.76% 4.15% 4.89% 5.32% 5.46% 5.18%
0.01% 0.00% 11.54% 11.54% 10.20% 10.20% 10.20% 9.87% 9.33% 9.34% 9.32% 9.33%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 0.07% 0.08% 0.06%
65.76% 64.31% 56.08% 55.35% 55.67% 56.41% 57.38% 58.23% 59.33% 58.87% 58.73% 59.02%
0.38% 0.38% 0.32% 0.32% 0.31% 0.31% 0.31% 0.30% 0.28% 0.28% 0.28% 0.28%
No. of Shareholders 2,04,5222,04,3792,02,1772,04,2102,00,9382,01,7461,97,3491,91,9341,91,8321,90,8102,00,1881,90,376

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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