India · Delayed Price · Currency is INR Jain Irrigation Systems Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY27 saw a 2.5% revenue decline and lower EBITDA due to raw material volatility and delayed demand, but strong cash flow conversion and improved working capital. Management expects recovery in H2, with double-digit growth and margin improvement targeted for FY27.
Fiscal Year 2026
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Q4 FY26 saw 4.3% revenue growth and margin improvement, with high-tech and food segments leading gains. FY27 outlook is positive, focusing on debt repayment, cash flow, and growth, supported by asset sales and new beverage lines. Adjusted PAT was positive despite reported losses.
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Q3 FY26 saw 17.4% revenue growth with strong retail sales and all segments contributing. EBITDA margin declined due to lower plastic and agro-processing margins, but nine-month EBITDA rose 15%. FY26 guidance remains 15%+ revenue and EBITDA growth, with retail focus and new projects set to drive FY27.
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Q2 FY26 saw 20% revenue growth and 43% EBITDA growth year-over-year, with all major segments contributing positively. Management maintains a >15% annual growth outlook, expects strong H2, and plans significant expansion in food processing and tissue culture.
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Q1 FY26 revenue grew 5% to INR 1,550 crore, with Hi-Tech Agri and solar pumps driving growth, while plastics declined due to deflation and early monsoon. EBITDA margin improved, exports surged 40%, and management maintains 15%+ full-year growth guidance. Debt reduction and value monetization remain priorities.
Fiscal Year 2025
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Q4 FY25 saw modest revenue growth and margin improvement, with Hi-Tech and Agro Processing segments leading performance. Strong cash flow enabled significant debt reduction, and FY26 guidance targets high-teen revenue growth, higher EBITDA, and further deleveraging.
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Q3 FY25 saw revenue stabilize at INR 1,360 crore with improved EBITDA and strong cash flows, driven by Hi-Tech Agri growth and export gains. Debt reduction continued, and management expects a stronger Q4 and robust FY26, with high-teen revenue growth and improved margins targeted.
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Q2 FY25 saw weak domestic performance due to excessive rains, but overseas and export businesses grew strongly. Cash flow and debt reduction improved, with a positive outlook for H2 as demand is expected to rebound and receivables are set to decline.
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Q1 FY25 saw a 13% revenue decline but remained profitable, with strong cash generation and stable debt. Management reaffirmed FY25 revenue guidance of INR 7,000 crore, expecting a strong H2 as monsoon and election impacts fade. Receivable recovery and retail focus remain priorities.