JAIN IRRIGATION SYSTEMS LTD. Q1 FY26 Results

In Q1IFY26, the Company experienced good demand for Micro Irrigation Systems, Tissue Culture, Exports and Solar Agri Pumps. We saw good growth in revenue and margins in Hi-Tech Agri division. Due to early monsoon in May we saw impact on demand for pipe, slowdown in JJM in Maharashtra. Margins for pipe business were also under pressure due to lack of demand. Internationally, while the global outlook remains uncertain due to reciprocal tariff by USA and prolonged war scenarios, crude oil prices remained mostly stable. This helped keep raw material costs under control. One of the bright spots this quarter was a successful mango season, however, due to much lower mongo prices we witnessed lower revenue growth which may continue in coming quarters. Overall our food processing division operated at higher capacity and delivered good results, contributing positively to margins. On the financial side, equity infusion during the quarter supported our working capital needs and growth plans. We saw some temporary elevation in the number of days of inventory, in line with our growth projections and accounts receivables during the quarter impacting the working capital cycle. We expect it to get optimise in the coming quarters. Our shift towards retail and exports has already shown better results in terms of revenue growth and margins. With well spread monsoon and government’s commitment for investment in infrastructure, we expect revival of demand for piping business in H2FY26.