Jain Irrigation Systems has announced a 42 per cent increase in revenues from Rs 604.81 crore to Rs 858.9 crore. PBDIT grew by 39 per cent. The company has recommended payment of 18 per cent dividend at Rs 1.8 per share.
Net profit has more than doubled from Rs 32.4 crore in 2004-05 fiscal to Rs 67.17 crore in 2005-06 fiscal. Exports have contributed Rs 289 crore to overall revenue.
In the micro/sprinkler systems division, projects such as Andhra Pradesh Micro Irrigation Project and Gujarat Green Revolution Co have helped the company achieve the growth levels.
expects a 30-50 per cent topline growth during the current fiscal, as it has strong orders in all its business. The company believes its focus area would be plastics and food products.
The recent acquisition of drip irrigation companies, Chapin Watermatics USA and Eurodrip S.A. Greece would further enhance growth in this division.