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Plastic Products company Jain Irrigation Systems announced FY24 results:
- Consolidated Revenue up by 7.0% for FY24 on YoY basis
- Consolidated EBITDA up by 16.8% for FY24 on YoY basis
- Consolidated PAT of Rs 910 million for FY24 as against loss after tax of Rs 1,208 million last year
- Standalone Revenue up by 5.7% for FY24 on YoY basis
- Standalone EBITDA up by 10.3% for FY24 on YoY basis
- Standalone PAT up by 41.2% to Rs 555 million for FY24 on YoY basis
Vice Chairman and Managing Director of the Company, Anil Jain said: "The world, including India, faces significant challenges due to climate change. Elevated temperatures and unpredictable weather patterns have disrupted agriculture and related industries. Farmers engaged in valueadded agriculture have been particularly affected.
Despite these challenges, the company saw substantial increase of 25% in retail business. The Company strategically reduced its exposure to project-based business and increased focus on retail and export markets which has changed overall revenue mix with better margins and lower working capital intensity.
Our international businesses have demonstrated resilience, with strong growth in both revenue and profitability, approaching pre-pandemic levels.
Normal monsoon has been predicated in current year. There could be some impact on overall business in the first quarter of FY25 due to general elections, however, we remain committed to deleveraging and improving profitability by remaining focused on quality of business and growing our retail business significantly."
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