Jain Irrigation Systems Ltd

About [ edit ]

Jain Irrigation Systems 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 since more than 34 years.

  • Market Cap 952 Cr.
  • Current Price 18.7
  • High / Low 26.4 / 6.35
  • Stock P/E
  • Book Value 62.6
  • Dividend Yield 0.00 %
  • ROCE -3.32 %
  • ROE -18.2 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.30 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 0.22% over past five years.
  • Promoter holding is low: 28.65%
  • Company has a low return on equity of -2.07% for last 3 years.
  • Contingent liabilities of Rs.724.17 Cr.
  • Promoters have pledged 49.95% of their holding.
  • Earnings include an other income of Rs.34.80 Cr.
  • Company has high debtors of 166.20 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
2,748 2,061 1,895 2,038 2,583 1,891 1,388 1,300 1,636 1,388 1,268 1,428
2,377 1,822 1,680 1,816 2,334 1,691 1,380 1,419 1,803 1,363 1,221 1,344
Operating Profit 370 239 215 222 249 201 8 -119 -166 25 47 84
OPM % 13% 12% 11% 11% 10% 11% 1% -9% -10% 2% 4% 6%
Other Income 22 92 26 92 65 59 54 -2 -2 28 0 9
Interest 133 135 132 134 113 145 166 178 199 186 184 183
Depreciation 87 87 78 76 72 82 90 90 103 92 97 95
Profit before tax 173 109 31 105 129 32 -194 -389 -470 -226 -234 -186
Tax % 46% 22% 31% 13% 57% 32% 31% 27% 31% 30% 27% 34%
Net Profit 97 82 21 82 54 22 -134 -279 -324 -157 -169 -119
EPS in Rs 1.96 1.65 0.43 1.66 1.08 0.44 -2.70 -5.62 -6.53 -3.16 -3.40 -2.40

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
2,811 3,372 4,147 4,903 5,016 5,821 6,117 6,281 6,715 7,800 8,536 6,184 5,720
2,412 2,732 3,399 4,087 4,305 5,067 5,341 5,463 5,772 6,846 7,610 6,260 5,730
Operating Profit 399 640 748 815 711 754 776 818 943 954 926 -76 -10
OPM % 14% 19% 18% 17% 14% 13% 13% 13% 14% 12% 11% -1% -0%
Other Income 53 50 111 34 -43 -168 -32 36 61 163 275 110 35
Interest 185 219 327 477 486 468 469 491 459 479 514 688 752
Depreciation 68 102 122 144 170 205 244 297 301 339 313 366 387
Profit before tax 199 369 409 229 13 -86 31 67 243 299 374 -1,020 -1,115
Tax % 33% 33% 30% 0% 64% 54% -78% 27% 27% 26% 32% 29%
Net Profit 129 248 281 224 3 -40 55 48 169 219 239 -715 -769
EPS in Rs 3.41 6.21 6.93 5.52 0.07 -0.90 1.25 1.06 3.68 4.42 4.82 -14.41 -15.49
Dividend Payout % 14% 14% 14% 18% 738% -58% 42% 49% 21% 24% 22% 0%
Compounded Sales Growth
10 Years:6%
5 Years:0%
3 Years:-3%
TTM:-20%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-128%
Stock Price CAGR
10 Years:-20%
5 Years:-22%
3 Years:-45%
1 Year:132%
Return on Equity
10 Years:2%
5 Years:-0%
3 Years:-2%
Last Year:-18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
117 78 77 81 91 92 92 95 96 103 103 103 103
Reserves 744 1,138 1,444 1,638 2,061 2,083 2,047 3,969 3,790 4,248 4,310 3,368 3,002
Borrowings 1,817 2,445 2,984 3,799 3,811 4,060 4,231 4,124 4,033 4,453 5,247 6,936 6,303
1,156 1,121 1,793 1,896 1,765 1,858 1,889 2,428 3,088 3,348 3,097 2,605 3,409
Total Liabilities 3,789 4,781 6,298 7,413 7,728 8,093 8,260 10,617 11,007 12,152 12,758 13,012 12,818
1,336 1,660 2,042 2,373 2,609 2,777 2,761 4,833 4,803 5,284 5,565 5,989 5,862
CWIP 121 132 96 198 75 81 53 60 64 122 139 56 18
Investments 20 21 21 24 4 1 62 106 81 85 83 86 86
2,312 2,967 4,140 4,818 5,041 5,234 5,384 5,618 6,058 6,661 6,971 6,881 6,852
Total Assets 3,789 4,781 6,298 7,413 7,728 8,093 8,260 10,617 11,007 12,152 12,758 13,012 12,818

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
227 393 106 85 428 574 660 440 674 1,313 156 -675
-479 -468 -504 -532 -342 -292 -228 -275 -417 -1,060 -346 -258
291 464 315 366 -183 -320 -325 -89 -520 -167 110 1,046
Net Cash Flow 38 389 -83 -82 -97 -38 107 76 -263 86 -80 113

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 16% 19% 18% 14% 11% 10% 9% 8% 9% 9% 10% -3%
Debtor Days 112 109 149 169 142 113 117 126 124 118 128 166
Inventory Turnover 1.82 1.94 1.85 1.93 1.89 1.98 1.98 1.98 1.85 1.88 1.96 1.59

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
28.50 28.64 28.64 28.64 28.64 28.64 28.64 28.64 28.64 28.64 28.64 28.64
30.98 30.83 31.45 31.82 31.89 26.83 18.35 11.55 9.68 8.41 8.53 5.76
8.27 7.08 5.97 4.54 0.25 0.14 1.02 0.01 0.01 0.01 0.00 0.01
0.11 0.11 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
32.13 33.33 33.82 34.89 38.83 44.00 51.60 59.41 61.29 62.56 62.44 65.21
0.00 0.00 0.00 0.10 0.38 0.38 0.38 0.38 0.38 0.38 0.38 0.38

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