JISLJALEQS
Jain Irrigation Systems share price & financials
- Price
- ₹34.87
- Market cap
- ₹2.2k Cr
- Sector
- Capital Goods
- Calls analysed
- 7
Jain Irrigation Q4 FY26
What went well
- Q4 FY26 revenue of ₹1,800 crores, up 4.3% YoY, despite raw material price shock.
- Q4 FY26 EBITDA grew 7% YoY, with overall margin expanding to 13.2% from 12.8%.
- Hi-Tech business showed strong growth in FY26, with revenue up >20% and EBITDA up 26%.
What to watch
- Unprecedented raw material price shock in March (PVC/polyethylene up 50-60%) led to an estimated Q4 revenue shortfall of ₹200-250 crores.
- Plastics business experienced a small degrowth in Q4 and only 2.4% revenue growth for FY26.
What Jain Irrigation Systems Limited does
Jain Irrigation Systems is a diversified agri-input and plastics manufacturer organised into three businesses: Hi-Tech Agri (drip and sprinkler irrigation systems, precision-farming advisory, solar agri pumps, and tissue-culture planting material for banana, pomegranate and sweet orange, among others), Plastics (PVC and PE pipes, fittings, plumbing systems and sheets for agricultural, industrial and infrastructure customers, plus a plastic-sheet business in the USA and UK), and Agro Processing (fruit pulps and concentrates, dehydrated onion and spice processing, IQF products, and beverage bottling through subsidiary Jain Farm Fresh Foods). It earns by manufacturing and selling irrigation equipment and piping through a dealer/distributor network to farmers, and industrial and infrastructure customers, and by processing and exporting food ingredients to global food companies. The company is recognised as the world's largest tissue-culture company for banana plantations and a global leader in mango processing and onion dehydration.
Segments
- Hi-Tech Agri Inputs
- Plastics
- Agro Processing (Food)
- Manufacturing bases
- 19 manufacturing bases across four continents
- Countries served
- Products supplied to 126+ countries
- Farmers reached
- Over 10 million farmers
- Dealer/distributor network
- 4,000+ dealers and distributors worldwide
- Global workforce
- 10,000+ associates globally
- Tissue-culture production scale
- 140+ million tissue-culture plants (banana, pomegranate, sweet orange and others) produced annually
Guidance record · Q4 FY26
what the last two calls moved 13 tracked 0 delivered 4 missed 9 open- Project Receivables Outstanding missed said Q2 FY25 Promised: No receivables left post-FY26 from project business (currently ₹850 crores). Q4 FY26: Target missed. Recovery of ₹80 cr in Q4. Management now expects issue to be resolved 'from FY '28 onwards'.
- Food Processing Value Monetization delayed said Q1 FY26 Promised: Good possibility of value monetization in '26. Q4 FY26: Further delayed. Management states they are 'some distance away' due to difficult market conditions for smaller IPOs.
- Term Debt Repayment on track said Q1 FY26 Promised: Zero by March '28, with potential acceleration to before March '27. Q4 FY26: Management confident of repaying FY27 maturities from internal accruals, citing strong operating cash flow projections of ₹750-800 cr.
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 2.5%, net profit down 263.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,192 | 1,361 | 1,749 | 1,546 | 1,432 +20% | 1,598 +17% | 1,824 +4% | 1,508 −2% |
| EBITDA | 139 | 176 | 223 | 201 | 198 +42% | 166 −6% | 236 +6% | 164 −18% |
| Net profit | -13 | -1 | 28 | 11 | 15 +215% | -47 −4600% | -19 −168% | -18 −264% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −42.7% 1Y
1Y: ₹51.83 on 10 Sept 2025 → ₹29.71. High ₹57.29 (12 Sept 2025), low ₹26.49 (14 Aug 2026).
How the price took the results
close before → close after
- Q4 FY26
- −6.9%
- 15 May
- Q3 FY26
- +2.1%
- 4 Feb
- Q2 FY26
- +1.8%
- 30 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 3.7% a year over 3 years, FY23 to FY26. Operating margin widened to 12.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹5.7k Cr | ₹6.1k Cr | ₹5.8k Cr | ₹6.4k Cr |
| Operating profit | ₹609 Cr | ₹775 Cr | ₹716 Cr | ₹801 Cr |
| Operating margin | 10.6% | 12.6% | 12.4% | 12.5% |
| Interest | ₹469 Cr | ₹418 Cr | ₹432 Cr | ₹459 Cr |
| Depreciation | ₹236 Cr | ₹243 Cr | ₹253 Cr | ₹281 Cr |
| Net profit | ₹831 Cr | ₹43 Cr | ₹26 Cr | ₹-40 Cr |
| Net margin | 14.5% | 0.7% | 0.4% | -0.6% |
| Cash from operations | ₹45 Cr | ₹535 Cr | ₹794 Cr | ₹619 Cr |
| Free cash flow | ₹-98 Cr | ₹316 Cr | ₹556 Cr | ₹284 Cr |
| ROCE | 4.0% | 6.0% | 5.0% | 5.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹103 Cr | ₹122 Cr | ₹125 Cr | ₹137 Cr | ₹147 Cr | ₹147 Cr |
| Reserves | ₹2.9k Cr | ₹3.5k Cr | ₹5.1k Cr | ₹5.3k Cr | ₹5.7k Cr | ₹5.7k Cr |
| Borrowings | ₹7.0k Cr | ₹6.8k Cr | ₹4.0k Cr | ₹4.0k Cr | ₹4.1k Cr | ₹4.3k Cr |
| Other liabilities | ₹2.7k Cr | ₹2.1k Cr | ₹1.8k Cr | ₹1.7k Cr | ₹2.0k Cr | ₹2.0k Cr |
| Total liabilities | ₹12.7k Cr | ₹12.5k Cr | ₹11.0k Cr | ₹11.2k Cr | ₹12.0k Cr | ₹12.1k Cr |
| Fixed assets | ₹5.6k Cr | ₹5.4k Cr | ₹4.1k Cr | ₹4.2k Cr | ₹4.5k Cr | ₹4.6k Cr |
| Capital work in progress | ₹21 Cr | ₹25 Cr | ₹32 Cr | ₹26 Cr | ₹73 Cr | ₹59 Cr |
| Investments | ₹88 Cr | ₹73 Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.3k Cr |
| Other assets | ₹7.0k Cr | ₹7.1k Cr | ₹5.7k Cr | ₹5.7k Cr | ₹6.2k Cr | ₹6.1k Cr |
| Total assets | ₹12.7k Cr | ₹12.5k Cr | ₹11.0k Cr | ₹11.2k Cr | ₹12.0k Cr | ₹12.1k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −2.08 pp while DIIs added +1.83 pp.
- Promoters
- 26.7%
- FIIs
- 3.1%
- DIIs
- 8.7%
- Government
- 0.1%
- Public
- 61.4%
- Others
- 0.1%
Since Jun 2025
- FIIs −2.08 pp
- DIIs +1.83 pp
- Public +0.30 pp
How it drifted, 12 quarters
Over this window the public went from 59.3% to 61.4% — +2.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 26.1%, FIIs 4.9%, DIIs 9.3%, Government 0.1%, Public 59.3%, Others 0.3%.Dec '23: Promoters 26.1%, FIIs 5.3%, DIIs 9.3%, Government 0.1%, Public 58.9%, Others 0.3%.Mar '24: Promoters 26.1%, FIIs 5.5%, DIIs 9.3%, Government 0.1%, Public 58.7%, Others 0.3%.Jun '24: Promoters 26.1%, FIIs 5.2%, DIIs 9.3%, Government 0.1%, Public 59.0%, Others 0.3%.Sep '24: Promoters 26.1%, FIIs 5.4%, DIIs 9.4%, Government 0.1%, Public 58.8%, Others 0.3%.Dec '24: Promoters 26.0%, FIIs 4.5%, DIIs 9.4%, Government 0.1%, Public 59.7%, Others 0.3%.Mar '25: Promoters 25.9%, FIIs 5.0%, DIIs 9.4%, Government 0.1%, Public 59.5%, Others 0.1%.Jun '25: Promoters 26.7%, FIIs 5.2%, DIIs 6.8%, Government 0.1%, Public 61.1%, Others 0.1%.Sep '25: Promoters 26.7%, FIIs 3.0%, DIIs 8.8%, Government 0.1%, Public 61.4%, Others 0.1%.Dec '25: Promoters 26.7%, FIIs 3.2%, DIIs 8.8%, Government 0.1%, Public 61.1%, Others 0.1%.Mar '26: Promoters 26.7%, FIIs 3.9%, DIIs 8.6%, Government 0.1%, Public 60.7%, Others 0.1%.Jun '26: Promoters 26.7%, FIIs 3.1%, DIIs 8.7%, Government 0.1%, Public 61.4%, Others 0.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Vara Future Llp newly disclosed 1.09% held
- VPR Enterprises LLP newly disclosed 1.02% held
The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Jain Irrigation Systems Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Jalgaon Investments Private Limited | 17.05% | unchanged |
| Mandala Rose Co-Investment Limited | 5.07% | unchanged |
| Cosmos Investments Private Ltd | 4.50% | unchanged |
| Shantakaram Financial Advisory Services Private Limited | 2.90% | unchanged |
| State Bank Of India Bank | 2.81% | unchanged |
| Stock & Securities India Pvt.Ltd. | 2.28% | unchanged |
| Alpha Alternatives Structured Credit Opportunities Fund AIF | 1.98% | unchanged |
| JAF Products Pvt. Ltd. | 1.97% | unchanged |
| Vara Future Llp | 1.09% | newly disclosed |
| Canara Bank Bank | 1.07% | unchanged |
| VPR Enterprises LLP | 1.02% | newly disclosed |
| Ajit Bhavarlal Jain | 0.21% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (6)
Read the Q4 FY26 call →Learn to analyse Jain Irrigation Systems Limited
Guides on how to read this kind of business and the numbers that matter.