Jain Irrigation Systems Limited — Investor Meet, 21-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Jain Irrigation Systems reported Q4 revenue growth of 1.3% to INR1,750 Cr and EBITDA up 3% to INR225 Cr, driven by strong 16.8% growth in Hi-Tech division and 14.6% in Agro Processing. Q4 PAT turned positive at INR28 Cr versus a loss last year. FY25 revenue declined 6% to INR5,800 Cr and EBITDA fell 9%, impacted by weak H1, but INR257 Cr debt was cut, now near INR3,500 Cr.

Management expects high-teens revenue growth in FY26, led by tissue culture, micro irrigation, solar pumps, exports (+25-30%), and improved piping. EBITDA is forecast to grow 23-24% aided by fixed cost leverage, with at least INR400 Cr debt reduction planned. Institutional piping sales dropped sharply due to lower government projects but non-JJM and exports should offset. Food processing grew 14% in Q4 and is expected to expand 15-20% in FY26. Receivables of INR750-800 Cr from govt projects will support debt cuts. Confidence remains on sustained growth from Q1 FY26 driven by dealer expansion and improving market conditions.