	Q2/FY10	Q2/FY09	Growth
Revenue	549.9	463.9	19%
EBIDATA	121.8	95.9	27%
Depriciation	16.0	10.8	48%
EBIT	105.8	85.1	24%
Exchange Rate Difference	3.4	(22.0)	-
Finance Charges	46.1	38.0	21%
PBT	63.4	25.1	152%
Tax Expenses (*)	20.8	0.6	-
PAT	42.6	24.5	73%
(*) FY09 full tax liability provision was done in March.

Mumbai, Oct 28, 2009 : Jain Irrigation, the largest micro irrigation Company in the country and the second largest player globally, has announced very impressive standalone results for the quarter ended 30th September, 2009.

The net sales for the quarter was at Rs. 550 crores up 19% (against corresponding quarter net sales in FY09 at Rs. 464 Crs). Against the global subdued environment, Domestic markets across the businesses have achieved very encouraging growth of about 31%. MIS business grew by 45% Pipe business grew by 14% and Agro processing business also grew by 13%. Continued domestic market growth reaffirms sustained growth in rural economy.

Exports, however, continue to experience de-growth. Overall exports for the company were down by 12%. MIS division was down by 8%, Pipe division was down by 30%. Agro processing division however was up by 6%.

Current robust order book would ensure at least 20-25% growth in Agro processing business in the current financial year.

The corporate EBIDTA margin has jumped by 190 bps for the quarter at 22.5% due to better product mix and higher capacity utilisation Corporate EBIDTA for the quarter was at Rs 122 Crores (Rs 96 Crores) demonstrating a healthy growth of 27%.

Overall finance cost was at Rs 46 Crores registering 21% increase in line with the revenue growth.

Company has achieved Profit Before Tax of Rs 63 Crores in this quarter, up 152%. In this quarter the company has also made tax provisions of Rs 21 Crores. Net profit grew by 73% at Rs. 43 Crores. (against corresponding quarter net profit of Rs 25 Crs)

Mr Anil Jain, Managing Director of the Company said, "This has been another good Quarter for our overall performance. The direction for domestic business continues to be strong. PE pipe business has become back in growth mode, reflecting pick up in infrastructure activities Onion business has also shown positive growth in this quarter. We expect Irrigation and Fruit Processing business to maintain decent growth levels in the coming Quarters.

We have witnessed a slightly weak start in the current quarter due to delay in withdrawal of monsoon tragic floods mostly in southern states, Elections in states like Maharashtra & Haryana coupled with festive season. Despite all of these unforeseen as well as disruptive events, we are confident of maintaining sustained growth in revenue and margins as we had planned at the start of the financial year. We will have to however watch carefully the impact of higher oil prices and inflationary environment. We expect rural economy to remain resilient with higher agriculture commodity prices for farmers and supporting government programmes focused on rural India.

The results were approved at Board Meeting on 28th October, 2009 at Mumbai.

About Jain Irrigation
Jain Irrigation is a diversified Company with more than 5,000 employees and a product portfolio encompassing Irrigation Product, Piping Products, Plastic Sheets, Dehydrated Foods, Fruit Puree and Juice concentrates. Jain Irrigation has pioneered drip irrigation for small farmers in India and has a major market share in one of the fastest growing irrigation markets in the world and is also the second largest drip irrigation Company in the world.