Online
|
|
NSE Announcements on Jain Irrigation
Posted by :
MMB MessengerJain Irrigation Systems Limited has informed the Exchange that the auditors have conducted the limited review for the un-audited financial results for the twelve months ended March 31, 2009 in which are incorporated the results for the quarter ended March 31, 2009. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
NSE Announcements on Jain Irrigation
Posted by : MMB MessengerJain Irrigation Systems Limited has informed the Exchange regarding a press release dated May 20, 2009, titled "Jain Irrigation Bags Rs. 651 Million Order of Balh valley Irrigation Project". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
BSE Announcements on Jain Irrigation
Posted by : MMB MessengerJain Irrigation Systems Ltd has informed BSE regarding a Press Release dated May 20, 2009 titled "Jain Irrigation Bags Rs 651 Million order of Balh Valley Irrigation Project"...
BSE Announcements on Jain Irrigation
Posted by : MMB MessengerJain Irrigation Systems Ltd has informed BSE that the auditors have conducted the limited review of the unaudited financial results for the quarter ended March 31, 2009....
Free-cashflow-positive by FY10:
Posted by : BAZEEGARThx for your view omu....
Overseas subsidiaries unlikely to contribute significantly to PAT
Posted by : BAZEEGAR
Management indicated that overseas subsidiaries are likely to contribute
to consolidated EBITDA marginally, and are likely to break even at PAT
level. This is an improvement from FY08 earnings, where subsidiaries
recorded Rs130m loss (~9% of standalone PAT)....
Free-cashflow-positive by FY10:
Posted by : omu
disappointed march qtr. numbers...
avoid fresh buying......
Diluted equity share count lower
Posted by : BAZEEGAR
Since promoter warrants have expired, the diluted share count stands
at 75.6m shares (including FCCB outstanding) vs 81.3m shares earlier.
Incremental cash flows for the next year are likely to be in the form of
debt, thus reducing risk of further dilution. However, we believe that
promoters are likely to issue further warrants to increase their
shareholding in the company....
Agro-processing impaired by poor fruit availability in FY09
Posted by : BAZEEGAR
While the overall agro-processing segment witnessed revenue growth of
38% YoY, the fruit segment’s volumes dropped 8.4% YoY. Management
said the volume decline was due to supply-side issues (output of
mangoes was poor last year, while FY10 mango output is estimated be
normal). The onions division witnessed strong 31% YoY volume growth,
driven both by stable output and strong demand conditions. We
estimate 25-30% revenue growth in the agro-processing segment....
Smaller states to contribute over two-thirds of MIS growth
Posted by : BAZEEGAR
While JISL’s existing strongholds (mainly Maharashtra and Andhra
Pradesh) will continue to contribute to growth, their share is likely to
account for about one-third during FY10, as against over 50% during
FY09. The share of smaller states improves certainty and visibility of
growth, as political and regional climatic disturbances are less likely to
impair growth....
Free-cashflow-positive by FY10:
Posted by : BAZEEGAR
Operating cash flow nearly broke
even during FY09 (vs a negative Rs3.5bn during FY08). Management
reiterated its expectation of turning free-cashflow-positive in FY10.
The company estimates that better receivables collection would
improve working capital management by 10-15 days. Inventory has
already improved by ~15 days to 57 days of sales currently.
However, meaningful improvements in the working-capital situation
are likely to be back-ended, as election-related issues will delay order
growth and subsidy collection from the government....
MIS margins towards high end of historic range:
Posted by : BAZEEGAR
EBITDA margin
in the MIS segment should stay at the high end of its historic range
(26-32%). This is significantly higher than our estimates and
management’s earlier guidance, when it had said competitive
intensity would drive pricing down, beginning 1QFY10. Should the
company be able to deliver margins in excess of 30% for FY10, that
would add ~3% to our earnings estimates....
Reiterated 40%+ growth expectation for MIS business:
Posted by : BAZEEGAR
Management expects micro-irrigation systems (MIS) to maintain high
growth rate of over 40% for FY10 (in line with street expectations),
despite pricing deflation as RM costs have registered a modest YoY
decline. 1QFY10 growth in the segment would however remain
subdued, as election-related delays will slow both orders and
disbursements of subsidies....
Jain Irrigation - Buy : Margins, cash flow to improve
Posted by : BAZEEGAR
Highlights of Jain Irrigation’s conference call on 5 May:
• Raised margin guidance for micro-irrigation systems business
• Reiterated expectations of turning free cashflow-positive
during FY10
• Concerns on financing costs will persist, given the company’s
dependence on high working capital to support rapid growth
• Earnings of overseas subsidiaries pose downside risks to IIFL
earnings estimate...
NSE Announcements on Jain Irrigation
Posted by : MMB MessengerJain Irrigation Systems Limited has informed the Exchange regarding a press release titled "Jain Irrigation FY08-09, Net Sales up 29.7% & PBDIT up 38.6%". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
