The final countdown to the Budget 2018 has begun. Ahead of key elections, the big expectation is that it could largely be farm focussed. In an interview with CNBC-TV18, Anil Jain, Vice Chairman and MD of Jain Irrigation shared his expectations from the upcoming Budget for the sector.
In an interview to CNBC-TV18, Anil Jain, VC & MD of Jain Irrigation Systems spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, Anil Jain, MD of Jain Irrigation Systems spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, Anil Jain, MD of Jain Irrigation Systems spoke about the results and his outlook for the company.
Close on the heels of the acquisition of 80 percent stake in two US entities, Jain Irrigation has also announced a Rs 570 crore order win from the Karnataka government. "In the next few quarters, we should be also getting more orders like these from other states", Anil Jain, MD of Jain Irrigation Systems told CNBC-TV18.
Speaking to CNBC-TV18, Anil Jain, Managing Director of Jain Irrigation Systems, said the note ban enforced by the government had “frozen everything†in rural areas for two months.
"Plastic business is growing because of the infrastructure growth. We have got Rs 300 crore order under AMRUT (Atal Mission for Rejuvenation and Urban Transformation) cities water programme", Anil Jain, MD of Jain Irrigation told CNBC-TV18.
Speaking to CNBC-TV18, Anil Jain, MD of Jain Irrigation Systems said that the company is not affected by the developments in Maharashtra irrigation projects.
"The rains are very good now, so post October, we expect lot more demand. Also, some of the government action like making sugarcane mandatory with drip should result into a very strong domestic business," Anil Jain, MD of Jain Irrigation said.
Jain Irrigation's Managing Director Anil Jain says its de-growth in FY16 was on account of lack of orders and now that the company has bagged a few orders, FY17 will be a better year.
The company aims to cut its interest payments to 3-5% of the total revenue in FY17, said Anil Jain, Managing Director, Jain Irrigation System.
CNBC-TV18 learns from sources that Jain Irrigation may sell a 25 percent stake in its food division for around Rs 500 crore. Shareholders have already approved the proposal to create a food processing arm, MD Anil Jain says, adding that the lenders‘ approval for the subsidiary should come in by December
Anil Jain, MD of Jain Irrigation says a good monsoon would come with a positive sentiment but for farmers in Marathwada and Telangana, severe drought might affect the company's performance.
The company reduced its overall debt by Rs 360 crore during the March quarter, and aims to reduce it by another Rs 300 crore this year.
In an interview to CNBC-TV18, Jain said his company has a 50 percent share in drip irrigation and he sees huge potential in this segment in the coming days.
Anil Jain, MD, Jain Irrigation is confident of the fourth quarter performance being better than third quarter and hopes to clock 13-14 percent consolidated growth in FY15.
The total foreign exchange loan for the company stands at USD 220 million, which is due over next 10 years. Out of this around USD 100-110 million is unhedged. However, to the company does have a net Fx earnings from high exports and less imports said Anil Jain, MD, Jain Irrigation.
Speaking to CNBC-TV18, Anil Jain, managing director, Jain Irrigation says the company‘s exports are likely to do well in the days to come too.
Jain Irrigation's management is hopeful of a better performance in the second half of the fiscal. It feels that high prices of polymer hit the margins. The company intends to bring down its forex debt going forward.
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.