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Jain Irrigation Systems
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BSE Announcements on Jain Irrigation
Posted by :
MMB MessengerTracked by: 0 Boarder
Jain Irrigation Systems Ltd has informed BSE that the Annual General Meeting (AGM) of the Company will be held on September 30, 2008....
Big Fall
Posted by :
gajabhauTracked by: 1 Boarder
one of the best in agri sector even i was wondering why the fall.the shareholding pattern says only 32 pc with promoters while 51 pc is held by dom mf n elite fii likes of citi goldman sach.thats where the problem cud be.
even a slight 1-2 percentage sale by these fii or even reliance mf schemes(they hv large holding n if they find something better in this melted mkt they will switch.HENCE THE FALL:WE WILL KNOW ONLYIN OCT WHETHER FII OR MF SCHEMES SOLD OR NOT:
ALL SAID N DONE THE STOCK REMAINSBEST PICK IN AGRI SECTOR:even rj in a recent seminar has indicated agri stocks will do well over nxt decade as agri revolution is waiting to happen.
SO BUY----JAIN RALLIS BAYER MONSANTO INSECTICIDE ETC ETC
ALL THE BEST...
In reply to:
Big Fall
Posted by :
vinsu12
ANybody , please any idea why the slide .
it made a 52 week low .
85% is delievered quantity as per NSE .
Please reply
FORBES COVER STORY
Posted by : jasaviTracked by: 0 Boarder
Drop By Drop
Naazneen Karmali 08.14.08, 5:00 PM ET
Forbes Magazine dated September 01, 2008
Drop by Drop
The Outsider
The Crowning Fortune
Complete Contents
Dreaming of a better future for India's downtrodden farmers, Bhavarlal Jain created the world's second-largest micro-irrigation company.
Until recently Ram Krishna Khodpe and his four brothers were eking out a meager living cultivating cotton on their 5-acre farm in the semiarid region of Jalgaon in India's western state of Maharashtra. To supplement his family's income, Khodpe ran a small shop selling sugarcane juice.
Then two years ago he saw a drip irrigation system being demonstrated in his village. This uses a motorized pump to push water through long black plastic tubes that are laid out in rows along the base of the plants. Instead of flooding the field, just the required amount of water "drips" slowly through intermittent holes in the tubes directly onto the plant's roots.
This irrigation-efficient system, Khodpe was told, could double crop yields and save up to 60% of the water that flood irrigation methods consume. The system wasn't cheap: $600 an acre, of which half would come from a government subsidy. Scraping together the family's savings, Khodpe took the plunge.
He reaped a bonanza. The yield on his cotton crop increased two and a half times, earning Khodpe $1,200 an acre, enough to recover the cost of the device in the first season. The family landholding has since expanded to 40 acres, says a beaming Khodpe as he walks visitors through his flourishing fields.
Changing the fortunes of poor Indian farmers like Khodpe has been a lifelong mission for Bhavarlal Hiralal Jain, founder-chairman of Jain Irrigation Systems, the leading supplier of this technique in India. Pursuing this altruistic goal doggedly over a 45-year business career, he's achieved global scale for his Jalgaon head-quartered company. Jain Irrigation has become the world's second-biggest manufacturer of agricultural micro-irrigation systems, behind an Israeli outfit, Netafim.
In India Jain's tubes cover more than half of the 4 million acres using the microtechnology. But that's still barely a trickle in a country with total farmland under cultivation of 300 million acres, of which less than half is irrigated at all.
The much heralded Green Revolution of the 1960s, with its miracle seeds, made India self-sufficient in staple foods, but in the last decade agriculture's growth rate has notably stagnated. Today Indian farms, highly fragmented and with relatively little in the way of state water projects to channel the seasonal monsoons, produce some of the lowest yields in the world. For example, rice yield per acre on average is 1.3 tons versus 2.5 tons per acre in China. Poor productivity keeps Indian farmers trapped in a cycle of poverty, despite all the subsidies the government doles out. This year's budget provided for a massive $14 billion waiver on farm debt with state-owned banks.
Stepping up public investment in the sector, notably in irrigation, has become a priority for the government. That's no political wonder--65% to 70% of India's population is dependent upon agriculture for their livelihood. In 2004 an official study group said efficient water management through micro-irrigation could help many save on fertilizer and labor, as well as the precious liquid itself.
All good news for Jain Irrigation, whose revenues last year rose 58% to $545 million with net profits increasing by 59% to $31 million. (The company has broadened into contract farming and agricultural tissue culture, and is the country's largest processor of fruits and vegetables and the biggest producer of dehydrated onion.) Since 2005 the company's share price has tripled. Despite a recent fall in the Bombay market, Bhavarlal's 32% stake, which he holds with his family, is worth $300 million today.
What works in India applies abroad. So Jain has acquired six companies overseas since 2006, including irrigation firms in the U.S., Israel and Switzerland. According to analysts a UBS Securities India, these acquisitions give Jain a fuller product range, enabling it to extend its reach into mature markets in the U.S. and Europe.
Bhavarlal, 71, views this momentum as incidental to the higher purpose enshrined in Jain Irrigation's mission statement: "Leave this world better than you found it."
"Money has never motivated me. It's always been the cause," he declares from his sparsely furnished office at Jain Hills, the headquarters. On his office walls are pictures of people he admires most: Mahatma Gandhi; India's first prime minister, Jawaharlal Nehru; and John F. Kennedy. "They were all dreamers, and so am I," he says.
His friends and colleagues describe him as an agricultural guru. "B.H. is a son of the soil entrepreneur who truly knows the pulse of rural India. I've learned a lot from him," says Kiran Mazumdar-Shaw, chairman and managing director of leading biotech company Biocon, who got to know Bhavarlal in 1979 when he was a supplier of papain, an enzyme extracted from papayas that her firm was using.
Success hasn't motivated Bhavarlal to give up his strict Gandhian lifestyle. He is a vegetarian who eats only home-cooked food, avoiding processed items like biscuits and chocolates. His preferred attire is white cottons. "I like white because of its purity." This color penchant extends to the surroundings--Jain's offices and factories are mostly painted white. He makes a concession in the yellow, green, blue and brown of the company logo. These are the colors of nature, he elaborates, symbolizing the sun, trees, water and earth.
Having survived four heart attacks and two bypass surgeries, Bhavarlal has handed over operations to his four sons, all of whom work in the company. But he still wakes daily at dawn and treks to the highest point on Jain Hills, where he meditates and does yoga. Company executives take turns accompanying him on his early morning walk to update him on important issues. His grandchildren tag along, too.
From Bhavarlal's meditation spot, the 1,000-acre complex of Jain Hills itself appears a shining advertisement for what micro-irrigation can achieve. Set in the midst of parched lands, it's an oasis of mango and banana trees, home to deer, peacocks and several other species of birds. The complex includes a training center for farmers, a demonstration plot and research and tissue-culture labs. Tucked away in one corner is a house where three generations of Jains live.
Bhavarlal was born into a Marwari family in a village not far away. His father and uncles were farmers and petty traders. Having bolder ambitions, Bhavarlal moved to what was then Bombay to study commerce and law, after which he prepared to join the civil service. But his mother, who never went to school and had lost nine children before Bhavarlal was born, urged him to reconsider. "She inspired me by saying I must do something that would help the cattle and birds, and all those who are disadvantaged," he recalls.
It took a while, but Bhavarlal found a route to the land. He began trading in agricultural products--tractors, fertilizers, seeds and pesticides. As the business grew, other family members got involved as well.
In 1978 they moved into manufacturing, starting with papain and then plastic pipes. Bhavarlal stumbled into his niche when he saw a drip irrigation system in 1985 at an agricultural trade show in Fresno, California. Handing over the trading business to his family (but retaining the plastics factory), he plowed ahead.
In his initial attempt to procure technology from Israel, where modern micro-irrigation had been invented, he found no willing partner. He persuaded James Hardie Irrigation of Australia to license its technology, but it took him more than a year to persuade India's hidebound bureaucracy to let him acquire the know-how.
Harder still was selling to India's marginal farmers who own less than 2 acres of land on average and could ill afford the $400-per-acre cost of the system. By then Bhavarlal's sons had joined the family trade and were involved with him in grassroots marketing, making house calls on farmers. Rather than talk about the technology, they emphasized the importance of conserving water, touting the slogan "More crop per drop." This underscored the higher yields farmers could get with less water.
"We've always been selling a concept, not just a product," says Anil Jain, 43. Model farms were established to show farmers how their fields could flourish by using this sophisticated irrigation method. Even so, it was a slog. "In those days only 10 out of 1,000 farmers whom we approached got sold on the idea," recalls brother Ajit, 42.
When the government introduced the micro-irrigation subsidy in 1990, it lit up business. With sales way up, the company expanded into fertilizers, plastic sheets, food processing and solar water heaters. That wasn't the end of it. In 1994 the Jains raised $30 million on the Luxembourg Stock Exchange, using it for a slew of new ventures, including merchant banking, granite quarrying, software and telecom.
...
Big Fall
Posted by : vinsu12Tracked by: 1 Boarder
ANybody , please any idea why the slide .
it made a 52 week low .
85% is delievered quantity as per NSE .
Please reply
...
In reply to:
Big Fall
Posted by : sanjeev3430
Why there is non stop slide on this counter? Anybody
Why Jaintenic is sinking ?
Posted by : santoshkanjaniTracked by: 0 Boarder
After bullrun up to 600 a few days back why this is sliping like this? Strange behaviour of the stock is creating panic, can anybody explain when will this come out of the turbulance? ...
Big Fall
Posted by : sanjeev3430Tracked by: 1 Boarder
Why there is non stop slide on this counter? Anybody...
In reply to:
Big Fall
Posted by : sanjeev3430
Can anybody please tell why it fell so much today. Was some MF off loading this stock?
NSE Announcements on Jain Irrigation
Posted by : MMB MessengerTracked by: 0 Boarder
Jain Irrigation Systems Limited had informed the Exchange that September 15, 2008 shall be the Record Date" for payment of Dividend on Equity Shares of the Company to be considered by the Shareholders at the Annual General Meeting to be held on September 30, 2008. The Company has now informed the Exchange that the Record Date i.e. September 15, 2008 has been cancelled. Further, Company shall close its transfer books and the related Register of Members etc with effect from September 15, 2008 to September 30, 2008 (both days inclusive) for the purpose of annual book closure 2007-08, payment of Dividend @ 22% on Equity Shares of the Company and Annual General Meeting to be held on September 30, 2008....
BSE Announcements on Jain Irrigation
Posted by : MMB MessengerTracked by: 0 Boarder
Jain Irrigation Systems Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 15, 2008 to September 30, 2008 (both days inclusive) for the purpose of payment of dividend & 21st Annual General Meeting (AGM) of the Company to be held on September 30, 2008....
NSE Announcements on Jain Irrigation
Posted by : MMB MessengerTracked by: 0 Boarder
Jain Irrigation Systems Limited has informed the Exchange that September 15, 2008 shall be the Record Date" for payment of Dividend on Equity Shares of the Company to be considered by the Shareholders at the Annual General Meeting to be held on September 30, 2008....
Big Fall
Posted by : sanjeev3430Tracked by: 1 Boarder
Can anybody please tell why it fell so much today. Was some MF off loading this stock?
...
Entry point
Posted by : sanjeev3430Tracked by: 1 Boarder
Can anybody tell me the right entry level for this stock....
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