Jain Irrigation Systems (500219) Q4 25/26 earnings summary

Executive summary

• Consolidated revenue for FY26 grew 10.7% year-over-year to ₹6,399.5 crore, led by Hi-Tech Agri and Agro Processing divisions, with EBITDA up 12.8% to ₹808.9 crore.

• Q4 FY26 revenue reached INR 1,824 crore, up 4.3% year-over-year, with high-tech business growing 8% and agro-processing up 6%.

• Cash generation was strong, with ₹619 crore operating cash flow (76% of EBITDA) for FY26.

• Working capital cycle improved by 15 days year-over-year to 186 days.

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 were approved, with unqualified audit opinions from statutory auditors.

Financial highlights

• Q4 FY26 consolidated revenue rose 4.3% year-over-year to ₹1,824 crore; EBITDA up 7.3% to ₹239.9 crore.

• Adjusted PAT for FY26 was positive at INR 133 crore, up 36% year-over-year; reported PAT was negative due to one-time non-cash items and deferred tax charges.

• Hi-Tech Agri revenue up 20.5% year-over-year; EBITDA up 26.2%.

• Agro Processing revenue up 9.3% year-over-year; EBITDA up 9%.

• Plastic division revenue up 2.4% year-over-year; overseas plastic business grew 13.5%.

Outlook and guidance

• FY27 expected to see improved revenue, margins, and cash flow, with focus on debt repayment and growth.

• Management expects continued revenue growth, improved collections, and sustainable free cash flow.

• Food business outlook strong, especially domestically and with new beverage lines; overseas challenges expected to ease.

• Company intends to migrate to the lower 22% tax regime effective April 1, 2026.

• Export outlook cautious due to geopolitical and tariff risks; below-normal monsoon forecast may impact demand.