Synopsis:
This irrigation stock jumped 7% after strong Q2 results with 20% revenue growth and 43% EBITDA rise. A robust Rs. 1,904.7 crore order book and optimistic management outlook highlight growth potential across domestic and international markets.
This company is the world’s second-largest micro-irrigation company, and India’s largest manufacturer of micro-irrigation systems is now in the spotlight after its board announced results of Q2 with EBITDA growth of 45% YoY.
With market capitalization of Rs. 3,845 cr, the shares of Jain Irrigation Systems Ltd closed at Rs. 52.86 per share, increased 7% in today’s market session, making a high of Rs. 55.79, from its previous close of Rs. 51.93 per share.
Q2 Results
Jain Irrigation Systems Ltd reported a strong set of Q2 results, posting a net profit of Rs. 15.3 crore compared to a loss of Rs. 13.2 crore in the same period last year. Revenue rose 20.2% year-on-year to Rs. 1,432 crore from Rs. 1,192 crore, while EBITDA surged 43.6% to Rs. 199 crore against Rs. 134 crore a year ago, reflecting robust operational performance and improved profitability. EBITDA margin improved by 227 bps from 11.6% to 13.9% over the same period.
Total Income has increased 11.5% from Rs. 2,669.8 cr in H1FY25 to Rs. 2,978 cr in H1FY26. EBITDA surged 26.4% to Rs. 401.2 crore. PAT stood at Rs. 26.5 cr from a loss of Rs. 1 cr over the same period.
Order Book Position
Jain Irrigation Systems Ltd’s order book position reflects a strong business pipeline across both its domestic and consolidated global operations. For India, the total order book stands at Rs. 922.5 crore, comprising Rs. 281.8 crore from Hi-Tech Agri, Rs. 226.4 crore from Plastic Products, and Rs. 414.3 crore from the Food/Agri segment.
On a consolidated basis, including both Indian and international orders, the overall order book amounts to Rs. 1,904.7 crore, made up of Rs. 281.8 crore in Hi-Tech Agri, Rs. 280.2 crore in Plastic Products, and a robust Rs. 1,342.7 crore in the Food/Agri division.
These numbers highlight the company’s significant growth opportunities, especially in its Food/Agri exports and processing business, and underscore the scale of its global reach and market demand.
Management commentary
The company posted a strong performance in Q2FY26, with consolidated revenue rising by 20.2% and EBITDA margins improving by 227 basis points year-on-year, despite heavy rainfall in key states and global challenges. While the excess and untimely rain affected Kharif crops and the piping segment saw weak demand due to lower government infrastructure spending, other areas like exports, solar agri pumps, and the food and international plastics businesses showed solid growth and improved profitability.
The company has also partnered with one of India’s top beverage brands to set up a new bottling plant under its agro-processing arm, JFFFL, which is expected to begin commercial production in Q3FY26. Management remains confident about medium- to long-term prospects, expecting demand to improve in the second half of FY26, supported by a good monsoon, higher consumption, and the rollout of GST 2.0.
Written by Manideep Appana
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