BSE: 500219 | NSE: JISLJALEQS | Plastic Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Jain Irrigation Systems Ltd is a average quality company.
The key valuation ratios of Jain Irrigation Systems Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Jain Irrigation Systems Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 8.1% | 6.7% | 8.4% | 9.7% | 10.4% | -4.9% | -0.4% | 6.5% | 5.4% | 5.1% | - |
| Value Creation Index ⓘ | -0.4 | -0.5 | -0.4 | -0.3 | -0.3 | -1.4 | -1.0 | -0.5 | -0.6 | -0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 4,236 | 3,418 | 3,710 | 4,213 | 4,443 | 2,003 | 2,156 | 2,819 | 3,613 | 3,821 | 3,303 |
| Sales YoY Gr. | - | -19.3% | 8.6% | 13.6% | 5.5% | -54.9% | 7.6% | 30.7% | 28.2% | 5.8% | - |
| Adj EPS ⓘ | 1.9 | 0.5 | 2.5 | 5 | 4.6 | -10.1 | -5.3 | -0.4 | 0.5 | 0.7 | 0.2 |
| YoY Gr. | - | -73.9% | 414.3% | 96.8% | -6.9% | -317.8% | NA | NA | NA | 54.4% | - |
| BVPS (₹) ⓘ | 51 | 87.3 | 90 | 88.4 | 91.6 | 81.8 | 75.9 | 73.2 | 72.9 | 69.7 | 72.2 |
| Adj Net Profit ⓘ | 86.9 | 23.2 | 121 | 256 | 238 | -519 | -275 | -23.5 | 29 | 49 | 13 |
| Cash Flow from Ops. ⓘ | 512 | 334 | 783 | 1,019 | -107 | -917 | 92.3 | 367 | 393 | 542 | - |
| Debt/CF from Ops. ⓘ | 6 | 8.5 | 2.1 | 1.2 | -15.3 | -3.4 | 36.1 | 7.7 | 7 | 4.6 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -1.1% | -3% | 21% | 5.8% | ||||
| Adj EPS ⓘ | -10.3% | -31.2% | NA | 54.4% | ||||
| BVPSⓘ | 3.5% | -5.3% | -2.8% | -4.4% | ||||
| Share Price | -2.5% | 42% | 15.5% | -7.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 3.7 | 0.7 | 2.9 | 5.8 | 5.1 | -11.6 | -6.8 | -0.6 | 0.6 | 1 | 0.3 |
| Op. Profit Mgn % ⓘ | 14.9 | 17 | 17.1 | 14.5 | 15.9 | -11.7 | 6.5 | 9.5 | 10.2 | 13.2 | 12.8 |
| Net Profit Mgn % ⓘ | 2.1 | 0.7 | 3.3 | 6.1 | 5.4 | -25.9 | -12.8 | -0.8 | 0.8 | 1.3 | 0.4 |
| Debt to Equity ⓘ | 1.3 | 0.7 | 0.4 | 0.3 | 0.4 | 0.7 | 0.9 | 0.6 | 0.6 | 0.5 | 0.2 |
| Working Cap Days ⓘ | 292 | 341 | 305 | 260 | 276 | 650 | 616 | 445 | 304 | 383 | 230 |
| Cash Conv. Cycle ⓘ | 92 | 99 | 121 | 85 | 107 | 373 | 375 | 263 | 171 | 228 | 71 |
Sales growth is growing at healthy rate in last 3 years 21.01%
Debt to equity has declined versus last 3 years average to 0.52
Return on Equity has declined versus last 3 years average to 0.30%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at -20.12%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.2 | 0.1 |
| TTM Sales (₹ Cr.) | 3,303 | 5,754 |
| BVPS (₹.) ⓘ | 72.2 | 81.6 |
| Reserves (₹ Cr.) ⓘ | 4,682 | 5,313 |
| P/BV ⓘ | 0.91 | 0.80 |
| PE ⓘ | 343.37 | 924.86 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 43.75 / 84.10 |
| All Time Low / High (₹) | 1.51 / 251.97 |
| Market Cap (₹ Cr.) | 4,375 |
| Equity (₹ Cr.) | 133.5 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 39.4 |
| Pledged * | 55.37 | 58.50 | 46.47 | 58.50 | 58.50 | 57.56 | 58.89 | 47.05 | 58.89 | 58.89 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,236 | 3,418 | 3,710 | 4,213 | 4,443 | 2,003 | 2,156 | 2,819 | 3,613 | 3,821 |
| Operating Expenses ⓘ | 3,607 | 2,841 | 3,104 | 3,602 | 3,755 | 2,237 | 2,062 | 2,552 | 3,246 | 3,318 |
| Manufacturing Costs | 401 | -325 | 300 | 463 | 451 | 327 | 229 | 297 | 351 | 402 |
| Material Costs | 2,515 | 2,486 | 2,073 | 2,392 | 2,496 | 1,105 | 1,297 | 1,662 | 2,182 | 2,195 |
| Employee Cost | 243 | 257 | 264 | 288 | 320 | 298 | 241 | 243 | 287 | 322 |
| Other Costs ⓘ | 449 | 423 | 467 | 460 | 488 | 507 | 294 | 349 | 425 | 399 |
| Operating Profit ⓘ | 629 | 577 | 606 | 611 | 687 | -234 | 95 | 267 | 368 | 503 |
| Operating Profit Margin (%) | 14.9% | 16.9% | 16.3% | 14.5% | 15.5% | -11.7% | 4.4% | 9.5% | 10.2% | 13.2% |
| Other Income ⓘ | 41 | 66 | 121 | 146 | 118 | 55 | 40 | 71 | 195 | 18 |
| Interest ⓘ | 400 | 348 | 342 | 276 | 310 | 418 | 445 | 257 | 363 | 292 |
| Depreciation ⓘ | 178 | 229 | 181 | 190 | 173 | 159 | 165 | 156 | 151 | 149 |
| Exceptional Items ⓘ | -57 | 0 | 0 | 0 | 0 | 0 | 0 | 295 | -15 | 0 |
| Profit Before Tax ⓘ | 34 | 66 | 203 | 291 | 323 | -755 | -476 | 220 | 35 | 79 |
| Tax ⓘ | -15 | 25 | 39 | 10 | 88 | -247 | -168 | 27 | -5 | 24 |
| Profit After Tax | 49 | 41 | 164 | 281 | 235 | -508 | -307 | 193 | 39 | 56 |
| PAT Margin (%) | 1.2% | 1.2% | 4.4% | 6.7% | 5.3% | -25.4% | -14.3% | 6.9% | 1.1% | 1.5% |
| Adjusted EPS (₹) | 1.1 | 0.9 | 3.4 | 5.5 | 4.6 | -9.9 | -6.0 | 3.2 | 0.6 | 0.8 |
| Dividend Payout Ratio (%) | 47% | 58% | 22% | 18% | 22% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 2,359 | 4,159 | 4,317 | 4,559 | 4,721 | 4,216 | 3,913 | 4,478 | 4,547 | 4,784 |
| Share Capital ⓘ | 92 | 95 | 96 | 103 | 103 | 103 | 103 | 122 | 125 | 137 |
| Reserves ⓘ | 2,266 | 4,064 | 4,221 | 4,456 | 4,618 | 4,113 | 3,809 | 4,356 | 4,422 | 4,646 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 2,879 | 2,556 | 1,127 | 1,007 | 1,470 | 2,819 | 2,886 | 2,669 | 2,556 | 2,273 |
| Long Term Debt | 1,400 | 1,212 | 526 | 449 | 624 | 429 | 301 | 1,115 | 1,009 | 796 |
| Short Term Debt | 1,478 | 1,343 | 601 | 558 | 846 | 2,389 | 2,585 | 1,553 | 1,546 | 1,478 |
| Trade Payables | 1,116 | 785 | 863 | 1,214 | 1,047 | 421 | 312 | 358 | 538 | 473 |
| Others Liabilities ⓘ | 704 | 954 | 1,360 | 970 | 981 | 1,018 | 1,340 | 800 | 733 | 734 |
| Total Liabilities ⓘ | 7,057 | 8,454 | 7,667 | 7,750 | 8,220 | 8,474 | 8,450 | 8,305 | 8,373 | 8,264 |
Fixed Assets | ||||||||||
| Gross Block | 2,936 | 3,893 | 3,994 | 4,171 | 4,364 | 4,571 | 4,613 | 4,624 | 4,707 | 4,837 |
| Accumulated Depreciation | 1,028 | 870 | 1,050 | 1,239 | 1,407 | 1,560 | 1,716 | 1,824 | 1,948 | 2,076 |
| Net Fixed Assetsⓘ | 1,908 | 3,023 | 2,944 | 2,932 | 2,957 | 3,011 | 2,897 | 2,800 | 2,759 | 2,761 |
| CWIP ⓘ | 32 | 16 | 20 | 67 | 101 | 43 | 23 | 17 | 30 | 22 |
| Investmentsⓘ | 732 | 1,427 | 1,097 | 1,142 | 1,158 | 1,157 | 1,156 | 1,430 | 1,443 | 1,448 |
| Inventories | 1,155 | 734 | 892 | 798 | 757 | 747 | 661 | 712 | 770 | 754 |
| Trade Receivables | 1,731 | 1,799 | 1,535 | 1,723 | 2,387 | 2,233 | 2,143 | 1,900 | 2,076 | 1,988 |
| Cash Equivalents | 225 | 132 | 168 | 265 | 30 | 117 | 278 | 193 | 68 | 52 |
| Others Assetsⓘ | 1,275 | 1,323 | 1,011 | 823 | 829 | 1,167 | 1,292 | 1,255 | 1,226 | 1,238 |
| Total Assets ⓘ | 7,057 | 8,454 | 7,667 | 7,750 | 8,220 | 8,474 | 8,450 | 8,305 | 8,373 | 8,264 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 512 | 334 | 783 | 1,019 | -107 | -917 | 92 | 367 | 393 | 542 |
| PBT ⓘ | 35 | 93 | 203 | 291 | 323 | -755 | -476 | 220 | 35 | 79 |
| Adjustment ⓘ | 614 | 659 | 357 | 366 | 412 | 780 | 652 | 118 | 452 | 446 |
| Changes in Working Capital ⓘ | -121 | -407 | 235 | 390 | -829 | -903 | -71 | 25 | -81 | 11 |
| Tax Paid ⓘ | -16 | -12 | -12 | -27 | -13 | -37 | -12 | 4 | -13 | 6 |
| Cash Flow From Investing Activity ⓘ | -128 | -16 | 574 | -307 | -34 | -191 | -65 | -83 | -40 | -133 |
| Capex | -122 | -192 | -137 | -197 | -220 | -134 | -24 | -50 | -119 | -139 |
| Net Investments | 0 | -392 | -126 | -86 | 191 | 13 | -32 | -38 | 66 | 4 |
| Others ⓘ | -7 | 567 | 837 | -24 | -5 | -70 | -9 | 5 | 13 | 3 |
| Cash Flow From Financing Activityⓘ | -281 | -411 | -1,448 | -701 | 97 | 1,202 | 95 | -400 | -411 | -422 |
| Net Proceeds from Shares ⓘ | 0 | 113 | 16 | 0 | 0 | 0 | 0 | 50 | 26 | 136 |
| Net Proceeds from Borrowing ⓘ | 156 | -144 | -345 | -336 | 163 | -58 | 9 | -431 | -184 | -307 |
| Interest Paid ⓘ | -392 | -433 | -347 | -278 | -308 | -272 | -106 | -234 | -246 | -232 |
| Dividend Paid ⓘ | -27 | -28 | -29 | -43 | -52 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -18 | 81 | -742 | -44 | 295 | 1,532 | 192 | 215 | -7 | -19 |
| Net Cash Flow ⓘ | 103 | -94 | -91 | 11 | -43 | 94 | 122 | -117 | -58 | -12 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 2.1 | 1.26 | 3.87 | 6.33 | 5.05 | -11.37 | -7.56 | 4.6 | 0.87 | 1.19 |
| ROCE (%) | 8.1 | 6.66 | 8.43 | 9.68 | 10.44 | -4.92 | -0.42 | 6.54 | 5.41 | 5.08 |
| Asset Turnover Ratio | 0.73 | 0.55 | 0.54 | 0.61 | 0.6 | 0.27 | 0.29 | 0.39 | 0.57 | 0.46 |
| PAT to CFO Conversion(x) | 10.45 | 8.15 | 4.77 | 3.63 | -0.46 | N/A | N/A | 1.9 | 10.08 | 9.68 | Working Capital Days |
| Receivable Days | 116 | 150 | 140 | 126 | 156 | 372 | 329 | 227 | 153 | 194 |
| Inventory Days | 84 | 80 | 68 | 65 | 59 | 121 | 106 | 77 | 57 | 73 |
| Payable Days | 154 | 134 | 141 | 155 | 160 | 226 | 89 | 62 | 57 | 59 |
Jain Irrigation Systems Limited, headquartered at Jalgaon, Maharashtra, India is a diversified agricultural conglomerate with a turnover in excess of $1.2 Billion. It has a global presence with various manufacturing bases spread over four continents. The company’s products are supplied to hundreds of countries with able assistance from thousands of dealers and distributors worldwide. With over 5 decades of efforts and presence in the marketplace, it has reached to over 10 million farmers in making them prosperous.
The company is the largest Micro-Irrigation company in the world. The Micro-Irrigation Division manufactures a full range of precision-irrigation products. It provides services from soil survey, engineering design to agronomic support. It nurtures a sprawling 2300 acre Hi-Tech Agri Institute; a Farm Resource R&D, Demo, Training & Extension Centre. It also undertakes turnkey projects for agricultural and irrigation development with holistic & integrated approach. Over 1500 Agri and Irrigation Scientists, Engineers and Technicians are engaged in offering services for complete project planning and implementation e.g. Watershed Development through Wasteland Transformation, including crop agronomy, protected cultivation etc.
The company is also the largest manufacturer of plastic pipes in India covering a wide range of pipes and fittings. The company extrudes pipe/sheet and inject the molds of PVC, PE, PP & CPVC along with other engineering polymers like Polycarbonate, Polyamide, PBT, ABS etc. It is a Total Solution Provider for various plastic piping systems that are used in conveyance of fluids, semisolids, gases and cables.
Business area of the company
It is an Indian multinational company with manufacturing plants across the globe. The company and its subsidiaries (collectively referred to as ‘Group’) are engaged in providing solutions in agriculture, piping, infrastructure through manufacturing of Micro Irrigation Systems, PVC Pipes, HDPE Pipes, Plastic Sheets, Agro Processed Products, Renewable Energy Solutions, Tissue Culture Plants, Equipment business, Financial Services and other agricultural inputs since many years.
It has pioneered a silent Productivity Revolution with modern irrigation systems and innovative technologies in order to save precious water and has helped to get significant increase in crop yields, especially for millions of small farmers. It has also ushered in new concept of large scale Integrated Irrigation Projects (IIP). ‘More Crop Per Drop’ is the company’s approach to water security and food security. It is early pioneer for Internet of Things (IOT) in the agri-sector and is leading efforts to create global solutions with precision agriculture.
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History and Milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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