Profit

BSE Code: | NSE Code: | ISIN: | Sector:

NSE
75.05
Change Change %
-1.15 -1.51%

Updated:25 Sep, 2018, 15:59 PM IST

BSE
75.30
Change Change %
-0.90 -1.18%

Updated:25 Sep, 2018, 16:01 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Edelweiss
N/A
17-08-2017 Buy 97.30 137.00
N/A
Target Hit Long (1Y)
17-08-2018

Edelweiss maintains buy on Jain Irrigation

Jain Irrigation (JISL) reported muted Q1FY18 numbers with revenue growing only 1% YoY to INR 16.8bn as all segments reported flat growth or declined impacted by GST-related destocking and deferment. While standalone hi-tech agri revenue grew only 4% YoY to INR4.7bn, consolidated plastic division declined 5% YoY and agro processing declined 12% YoY on lower pick up by major customers like Coke India. EBITDA margin was flat at 14%. On the debt front, excluding the US acquisition (INR3.2bn), net debt fell by INR0.7bn YoY. While management has maintained guidance, we prune FY18 EBITDA growth estimate to 20% (JISL's guidance: 25% YoY growth) and revise FY18/19E EPS down 9/4% to factor in challenges in H1FY18 due to GST in all of the company's major segments.  

Top