Jain Irrigation, the agricultural major, has posted almost 45.5% growth (on YOY basis) in revenues at Rs. 2263 million for Q2 FY 2006-07. Exports contributed 45% of the revenue at Rs.1014 million during the quarter reflecting 52.60% growth YOY. The domestic growth of 40.90% in an extended monsoon (read lean) season reflects the strong demand for its agricultural input products.

The EBIDTA at Rs. 404 million grew by over 52.5% showing an increase of 84 basis points in the operating margins. The profit after tax has more than doubled at Rs. 163 million as compared to Rs. 80 million on YOY basis.

MIS division at Rs.583 million, PVC sheets at Rs.473 million and PVC Pipes at Rs. 331 million were the three largest contributors while MIS at 72.7%, fruit at 99%, onion at 91% and, PVC sheet at 33% were the highest growing divisions of the Company in Q2 FY2006-07. Company is looking forward to maintain this robust growth in the upcoming busy season in short term.

The Company is in final stages of creating the expanded capacities in the plastics and food business out of the FCCB funds ($60mn) raised in March 2006, while the acquisitions in food processing division have already resulted in part of increased capacities being in place in some of the plastics and food businesses.

“Jain Irrigation is pursuing a strategy of global leadership in its various business lines well supported with dynamic growth in domestic markets due to increased fund allocation by all stakeholders” said Mr. Anil Jain, Managing Director after the meeting approving the results.

View Unaudited Working Results for the Quarter / Half Year Ended 30th Sept, 2006