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Revenue
₹1,800 Cr
verification pending
Revenue YoY
4.3%
reported change
EBITDA
Pending
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Jain Irrigation reported Q4 FY26 revenue of ₹1,800 crore, up 4.3% YoY, with EBITDA margin expanding 40 bps to 13.2%. The high-tech division (drip irrigation, tissue culture) grew 8% and improved margins to 19.8%, while plastics saw slight degrowth due to a raw material price shock in March. Agro processing grew 6% but EBITDA declined. For FY26, consolidated revenue grew 11% with high-tech up 20%. Management highlighted a sharp spike in polymer prices (PVC up 50%, polyethylene up 60% in 20 days) that disrupted March sales, but prices have since stabilized. Guidance for FY27 is cautious but positive: revenue, margins, and cash flow expected to improve. Key risks include geopolitical uncertainty, tariff issues, and execution of debt repayment (₹350 crore due in FY27). The new beverage lines started operations, contributing ₹27-28 crore revenue in March.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects all three parameters to be better in FY27 compared to FY26, despite near-term uncertainties.
- Company aims to generate ₹1,000 crore operating cash flow by recovering old government and project receivables.
- Management targets retail business growth of over 15% in FY27, up from 13% in FY26.
- Discussions ongoing to add three more beverage lines during FY27, with investment expected by December/January.
Risks flagged
- Unprecedented spike in polymer prices (PVC up 50%, polyethylene up 60% in 20 days) disrupted March sales and could recur.
- Analyst questioned ability to repay ₹350 crore debt in FY27 given past delays in asset sales and government receivables.
- Exports impacted by geopolitical tensions and tariff issues; management noted challenges in shipping and market access.
- War scenario reduced exports of agri commodities, lowering farmer incomes and dampening demand for irrigation products.
Key quotes
- Not seen anything like that even during COVID period. And in fact over last 40 years this was a in such a short period such an amount of increase which took place.
- Our focus this year is on cash flow as a s one's most important priority to ensure that uh we are able to take care of the you know signant amount of debt which is falling through this year.
- We have backup options uh to ensure that we'll come through well on that and 28 onwards you know business is focused purely on growth.
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