Jain Irrigation Systems Ltd's Q2FY19 consolidated net profit rises 49.7% yoy to Rs21.40cr : In-line with Estimates

The company’s consolidated revenue stood at Rs1,895.10cr, up 20.35% yoy.

Nov 12, 2018 06:11 IST India Infoline Research Team

Jain Irrigation Systems Ltd Q2FY19

Consolidated Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 1,895.10 20.4
EBITDA 258.30 18.0
EBITDA Margin (%) 13.6 [28]
Net Profit  21.40 49.7
***EBITDA margin change is bps

Jain Irrigation Ltd reported Q2FY19 results in-line with the estimates on revenue and EBITDA front. Revenue grew by 20.4% yoy to Rs1,895cr against Rs1,574.6cr in Q2FY18, almost in-line with the estimate of Rs1,834cr. EBITDA for the quarter grew by 18% yoy to Rs258.3cr against Rs219cr in 2QFY18. EBITDA margin declined by 28bps yoy to 13.6%. Net profit for the quarter grew by 49.7% yoy to Rs21.4cr against Rs14.3cr in corresponding quarter last year.

• Hi-tech agri inputs segment revenue grew by 21.63% yoy to Rs977.9cr in Q2FY19 with order book of Rs2,496.5cr.
• Plastic segment revenue grew by 36.39% yoy to Rs441cr in Q2FY19 with order book of Rs1,262.3cr.
• Agro segment revenue grew by 15.5% yoy to Rs438.3cr with order book of Rs888.1cr. Division was impacted by lower prices of mangoes, onions, garlic and pepper.
• Total exports grew by 6.9% yoy to Rs261.1cr in Q2FY19.

Technical View:

Jain Irrigation Systems Ltd ended at Rs. 75.30, down by 0.9 points or 1.18% from its previous closing of Rs. 76.20 on the BSE.
The scrip opened at Rs. 76.50 and touched a high and low of Rs. 76.75 and Rs. 73.25 respectively. A total of 67,03,355 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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