Admitting that impact of weak rupee on polymer business resulted in lower margins during the quarter gone by, Anil Jain, managing director, Jain Irrigation told CNBC-TV18, “ Margins will improve in second half of FY14 as company will pass on polymer price increase.â€
Jain Irrigation aims to reduce its debt by Rs 500 crore for FY14. The company is likely to increase its revenues by more than 20 percent going ahead.
Jain Irrigation is confident of a turnaround in business by fiscal year 2014, says managing director Anil Jain. Mumbai-based company reported a net loss of Rs 31.17 crore for the third quarter ended December, 2012, due to sluggish sales.
In an interview to CNBC-TV18, Anil Jain, MD, Jain Irrigation spoke about the performance of the company in the second quarter. The company reported disappointing sales of Rs 615 crore.
Anil Jain, managing director, Jain Irrigation told CNBC-TV18 that fund raising will be completed by October. The preferential allotment will be made to IFC and PE inventors. It expect 15-20% growth next year onwards.
Anil Jain, managing director, Jain Irrigation told CNBC-TV18, its micro irrigation business will start seeing a positive growth momentum from third and fourth quarter onwards.