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Jain Irrigation Systems Ltd. Interim / Quarterly Report 2026
58977_rns_2026-05-15_c9d239dc-4af6-4fde-86b4-c138bcef87ea.pdf
Interim / Quarterly Report
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Jain
Jain Irrigation Systems Ltd.
Small Ideas. Big Revolutions.
Regd. Office: Jain Plastic Park, P.O.Box: 72, N.H.No. 53, Jalgaon - 425 001. India.
Tel: +91-257-2258011; Fax: +91-257-2258111; E-mail: [email protected]; Visit us at: www.jains.com
CIN: L29120MH1986PLC042028
JISL/SEC/2026/05/B-2/B-6
May 15, 2026
To,
BSE Ltd.,
Corporate Relationship Department,
1st Floor, New Trading Wing, Rotunda
Building, P. J. Tower, Dalal Street,
Mumbai - 400 001.
Email: [email protected]
To,
National Stock Exchange of India Ltd.,
Exchange Plaza, C-1, Block G,
Bandra Kurla Complex,
Bandra (East),
Mumbai - 400 051.
Email: [email protected]
Ref: Code No. 500219 (BSE) & JISLJALEQS (NSE) for Ordinary Equity Shares
Code No. 570004 (BSE) & JISLDVREQS (NSE) for DVR Equity Shares
Sub: Audited Standalone and Consolidated Financial Results for the quarter and year ended March 31, 2026
Dear Sir/Madam,
In continuation to our letter No. JISL/SEC/2026/05/B-2/B-6, dated May 6, 2026, we write to inform you that the Board of Directors have met at Jalgaon and via Video Conferencing/Audio Visual means today and considered, approved Audited Standalone and Consolidated Financial results for the quarter and year ended March 31, 2026.
We attach herewith Audited Standalone and Consolidated Financial results for the quarter and year ended March 31, 2026 in the prescribed format together with notes duly signed by the Managing Director of the Company.
Also, please find attached herewith the Audit Report for the quarter and year ended March 31, 2026, issued by the Statutory Auditors of the Company, M/s. Singhi & Co., Chartered Accountants, Kolkata, on the Standalone and Consolidated Financial Statements of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
We are also arranging to publish the said results in newspapers as per Regulation 47 (1) (b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The meeting commenced at 10:30 AM and ended at 12:35 PM.
Please receive the above in order, take the same on record and acknowledge.
Thanking you,
Yours faithfully,
For Jain Irrigation Systems Ltd.
AVDHUT
VASANT
GHODGAONK
AR
A. V. Ghodgaonkar
Company Secretary
Encl: a/a
A
Jain Irrigation Systems Ltd.
Small Ideas. Big Revolutions.
Regd. Off: Jain Plastic Park, N.H. No.53, Bambhori, Jalgaon - 425001, India.
Tel: +91-257-2258011; Fax: +91-257-2258111; E-mail: [email protected]; Website: www.jains.com; CIN: L29120MH1986PLC042028
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER & YEAR ENDED 31-MAR-2026
| Particulars | Quarter-Ended | Year-Ended | |||
|---|---|---|---|---|---|
| Audited | Un-Audited | Audited | Audited | ||
| 31/Mar/26 | 31/Dec/25 | 31/Mar/25 | 31/Mar/26 | 31/Mar/25 | |
| INCOME | |||||
| Revenue from operations | 1,003.15 | 919.66 | 1,027.33 | 3,533.29 | 3,259.02 |
| Other income | 2.13 | 6.97 | 2.09 | 19.57 | 17.35 |
| Total Income | 1,005.28 | 926.63 | 1,029.42 | 3,552.86 | 3,276.37 |
| EXPENSES | |||||
| Cost of materials consumed | 508.20 | 474.76 | 550.74 | 1,881.08 | 1,830.67 |
| Change in inventories of finished goods | 31.84 | 48.28 | 22.19 | 54.71 | (31.25) |
| Employee benefits expense | 86.29 | 95.65 | 92.64 | 372.49 | 352.51 |
| Finance costs | 75.76 | 75.15 | 75.69 | 296.27 | 291.69 |
| Depreciation and amortisation expense | 43.70 | 41.39 | 45.38 | 167.81 | 159.01 |
| Other expenses | 210.97 | 165.29 | 201.83 | 692.52 | 636.10 |
| Total expenses | 956.76 | 900.52 | 988.47 | 3,464.88 | 3,238.73 |
| Profit / (Loss) before exceptional items and tax | 48.52 | 26.11 | 40.95 | 87.98 | 37.64 |
| Exceptional items gain / (loss) | - | (20.72) | - | (20.72) | - |
| Profit / (Loss) before tax | 48.52 | 5.39 | 40.95 | 67.26 | 37.64 |
| Income tax expense | |||||
| Current tax | - | - | - | - | - |
| Deferred tax expenses / (benefit) | 37.24 | 1.64 | 12.66 | 43.23 | 12.92 |
| Total tax expense | 37.24 | 1.64 | 12.66 | 43.23 | 12.92 |
| Profit / (Loss) for the period / year | 11.28 | 3.75 | 28.29 | 24.03 | 24.72 |
| Other comprehensive income | |||||
| (i) Items that will not be reclassified to profit or loss | 1.26 | (0.45) | (1.38) | 5.10 | (0.77) |
| - Remeasurements of defined benefit obligations gains / (loss) | 0.06 | 0.16 | 0.49 | (1.28) | 0.27 |
| - Income tax relating to the above items | 1.32 | (0.29) | (0.89) | 3.82 | (0.50) |
| Other comprehensive income (net of tax) | 12.60 | 3.46 | 27.40 | 27.85 | 24.22 |
| Total comprehensive income for the period / year (after tax) | 146.78 | 146.78 | 138.22 | 146.78 | 138.22 |
| Paid-up Equity Share Capital (face value of ₹ 2/- each) | 146.78 | 146.78 | 138.22 | 5,011.51 | 4,842.55 |
| Other Equity excluding revaluation reserve as per Balance Sheet | - | - | - | - | - |
| Earning per Equity Share (of ₹ 2/- each) (Quarterly not annualised) | 0.15 | 0.06 | 0.41 | 0.33 | 0.36 |
| Basic earnings per share (in ₹) | 0.15 | 0.06 | 0.40 | 0.33 | 0.35 |
| Diluted earnings per share (in ₹) | 0.15 | 0.06 | 0.40 | 0.33 | 0.35 |
Notes
-
The audited Standalone financial results for the quarter and year ended March 31, 2026 were reviewed and recommended by the Audit Committee and subsequently approved by the Board of Directors of the Company at its meeting held on May 15, 2026 and are available on the Company’s website - www.jains.com.
-
The statutory Auditors - M/s Singhi & Co., Chartered Accountants, have carried out audit of the results for the quarter and year ended March 31, 2026.
-
Finance cost includes non-cash transaction being unwinding of 0.01% NCDs/ECBs as per effective interest rate of ₹ 20.32 Crore, ₹ 24.42 Crore and ₹ 18.56 Crore for the quarter ended March 31, 2026, quarter ended December 31, 2025 and quarter ended March 31, 2025 respectively. The amount for year ended March 31, 2026 and for the year ended March 31, 2025 are ₹ 83.61 Crore and ₹ 72.15 Crore respectively.
-
Other expenses includes foreign exchange gain of ₹ 9.55 Crore, ₹ 3.09 Crore and ₹ 3.46 Crore for the quarter ended March 31, 2026, quarter ended December 31, 2025 and quarter ended March 31, 2025 respectively. The amount for year ended March 31, 2026 and for the year ended March 31, 2025 are ₹ 22.92 Crore and ₹ 17.23 Crore respectively.
-
During the quarter ended June 30, 2025, the Company received the balance 75% of allotment money amounting to ₹ 149.67 Crore from the warrant holders against the allotment of 42,786,430 Ordinary Equity Shares on conversion of the Equity Share Warrants.
-
On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed and disclosed the incremental impact of these changes and considering the materiality and regulatory-driven, non-recurring nature of this impact, the Company has presented such incremental impact as Statutory Impact of new Labour Codes under Exceptional Items in the Standalone statement of profit and loss for the period ended December 31, 2025. The incremental impact consisting of gratuity of ₹ 20.72 Crore primarily arises due to change in wage definition. The Company is currently assessing the impact of the new Labour Codes on other aspects, including the contract workforce and other employee-related obligations and continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed.
-
Pursuant to the amendments introduced by the Finance Act, 2026, which permit utilizing accumulated Minimum Alternate Tax (MAT) credit after transitioning to the concessional tax regime, the Company evaluated the option under Section 115BAA of the Income-tax Act, 1961, to pay tax at a reduced rate of 22% (plus applicable surcharge and cess). The Company intends to migrate to this lower tax regime effective April 1, 2026, restricting MAT credit utilization to 25% of the annual tax liability for each year. Accordingly, deferred tax assets and liabilities have been remeasured based on the expected reversal period and the revised 25.17% effective tax rate, resulting in a net charge of ₹ 24.23 crores to the Statement of Profit and Loss for the year ended March 31, 2026 included under deferred tax.
-
Until March 31, 2025, the Company presented the 'Other Division' as a separate reportable segment, comprising Solar Thermal Products, Solar Photovoltaic Systems, Solar Power Packs, Solar Power Generation, and Agri R&D Activities. Effective from April 01, 2025, in line with the revised internal reporting structure used for providing financial information to the Chief Operating Decision Maker (CODM), the Company has included the 'Other Division' into the 'High-tech Agri Input Products' segment. Additionally, to improve the quality of information presented, certain expenses have been specifically allocated to individual segments during the quarter. Accordingly, the segment information for the previous reported period has been restated to reflect these changes.
-
Ongoing geopolitical conflict in the Middle East involving the U.S. and Iran has resulted in disruption in the availability and increase in the cost of raw materials used in manufacturing our products. The company has taken various steps to mitigate this impact and continues to monitor the situation closely for any potential long-term indirect effects on energy prices or global trade routes that could influence future reporting period.
-
The figures of the last quarter are the balancing figures between audited figures in respect of full financial year up to March 31, 2026/ March 31, 2025 and the unaudited published year-to-date figures up to December 31, 2025 / December 31, 2024 being the figures up to the end of the third quarter of financial year respectively which were subject to limited review.
-
The figures of the previous period / year have been regrouped, rearranged, reclassified or reworked as necessary to confirm the current quarter / period classification.
Jain
Jain Irrigation Systems Ltd.
Regd. Off: Jain Plastic Park, N.H. No.53, Bambhori, Jalgaon - 425001, India.
Tel: +91-257-2258011, Fax: +91-257-2258111, E-mail: [email protected], Website: www.jains.com, CIN: L29120MH1986PLC042028
QUARTER ENDED REPORTING OF STANDALONE SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITY UNDER REGULATION 33 OF SEBI
(LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATION 2015
in Crore
| Particulars | Quarter-Ended | Year-Ended | ||||
|---|---|---|---|---|---|---|
| Audited | Un-Audited | Audited | Audited | |||
| 31/Mar/26 | 31/Dec/25 | 31/Mar/25 | 31/Mar/26 | 31/Mar/25 | ||
| 1 | Segment Revenue : | |||||
| a) Hi-tech Agri Input Products | 665.03 | 624.98 | 617.07 | 2,344.35 | 1,942.32 | |
| b) Plastic Division | 338.12 | 294.68 | 410.26 | 1,188.94 | 1,316.70 | |
| Total | 1,003.15 | 919.66 | 1,027.33 | 3,533.29 | 3,259.02 | |
| Less : Inter Segment Revenue | - | - | - | - | - | |
| 2 | Net Sales / Income From Operations | 1,003.15 | 919.66 | 1,027.33 | 3,533.29 | 3,259.02 |
| Segment Result | ||||||
| a) Hi-tech Agri Input Products | 96.75 | 82.24 | 73.01 | 294.90 | 209.68 | |
| b) Plastic Division | 25.40 | 12.05 | 41.54 | 69.78 | 102.30 | |
| 3A | Total | 122.15 | 94.29 | 114.55 | 364.68 | 311.98 |
| Un-allocable expenditure (net): | ||||||
| Less: i) Finance Costs (gain) / loss | 75.76 | 75.15 | 75.69 | 296.27 | 291.69 | |
| ii) Other un-allocable expenditure (net) | (2.13) | (6.97) | (2.09) | (19.57) | (17.35) | |
| Profit / ( Loss ) Before Tax / Exceptional items | 48.52 | 26.11 | 40.95 | 87.98 | 37.64 | |
| 3B | Exceptional items gain/(loss) | - | (20.72) | - | (20.72) | - |
| Profit/ (Loss) before tax | 48.52 | 5.39 | 40.95 | 67.26 | 37.64 | |
| 3A | Segment Assets | |||||
| a) Hi-tech Agri Input Products Division | 3,840.61 | 3,902.67 | 3,847.06 | 3,840.61 | 3,847.06 | |
| b) Plastic Division | 1,414.24 | 1,327.72 | 1,348.65 | 1,414.24 | 1,348.65 | |
| c) Un-allocable | 3,325.28 | 3,309.02 | 3,273.01 | 3,325.28 | 3,273.01 | |
| Total Assets | 8,580.13 | 8,539.41 | 8,468.72 | 8,580.13 | 8,468.72 | |
| 3B | Segment Liabilities | |||||
| a) Hi-tech Agri Input Products Division | 475.29 | 496.61 | 568.11 | 475.29 | 568.11 | |
| b) Plastic Division | 269.57 | 331.77 | 269.33 | 269.57 | 269.33 | |
| c) Un-allocable | 2,676.98 | 2,565.31 | 2,650.51 | 2,676.98 | 2,650.51 | |
| Total Liabilities | 3,421.84 | 3,393.69 | 3,487.95 | 3,421.84 | 3,487.95 |
Segment Note
1) Company has considered business segment for reporting purpose, primarily based on customer category. The products considered for the each business segment are:
a) Hi-tech Agri Input Products division includes Micro Irrigation Systems, Solar Agri Pump, Integrated Irrigation Projects, Tissue Culture Plants, Solar Thermal Products, Solar Photovoltaic System, Solar Power Pack, Solar Power generation and Agri R&D Activities.
b) Plastic Division includes PVC Piping Products, PE Piping Products, Piping Projects and Plastic Sheets.
2) The revenue & results figure given above are directly identifiable to respective segments and expenditure on common services incurred at the corporate level are not directly identifiable to respective segments have been shown as "Other Un-allocable Expenditure".
3) Segment Assets & Liability figures given above are directly identifiable to respective segments and Assets & Liability for corporate services for head office and investments have been shown as "Un-allocable".
Jalgaon, May 15, 2026
JALGAON, N.H. 425001
JAIGAON, INDIA 425001
For Jain Irrigation Systems Ltd.,
Anil B. Jain
Vice Chairman & Managing Director
JAIN
Tel: +91-257-2258011; Fax: +91-257-2258111; E-mail: [email protected]; Website: www.jains.com; CIN: L29120MH1986PLC042028
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
₹ in Crore
| Particulars | As at | |
|---|---|---|
| Audited | Audited | |
| 31/Mar/26 | 31/Mar/25 | |
| ASSETS | ||
| Non-current assets | ||
| Property, Plant and Equipment | 2,664.62 | 2,718.84 |
| Right to Use asset | 82.03 | 90.71 |
| Capital work-in-progress | 54.96 | 35.75 |
| Investment property | 9.20 | 11.50 |
| Other Intangible Assets | 2.19 | 2.78 |
| Financial Assets | ||
| (i) Investments in subsidiaries and associates | 1,386.98 | 1,383.50 |
| (ii) Investments | 68.71 | 62.62 |
| (iii) Loans | 16.09 | 14.55 |
| (iv) Other financial assets | 166.09 | 164.58 |
| Deferred tax assets (net) | 43.70 | 88.21 |
| Income Tax assets (net) | 27.55 | 19.50 |
| Other non-current assets | 16.40 | 16.10 |
| 4,538.52 | 4,608.64 | |
| Current assets | ||
| Inventories | 835.59 | 890.90 |
| Biological assets other than bearer plants | 200.61 | 158.68 |
| Financial Assets | ||
| (i) Trade Receivables | 2,000.62 | 1,885.18 |
| (ii) Cash and cash equivalent | 83.78 | 26.64 |
| (iii) Bank balances other than (ii) above | 18.87 | 12.63 |
| (iv) Loans | 11.15 | 12.09 |
| (v) Other financial assets | 357.06 | 371.10 |
| Other current assets | 533.93 | 502.86 |
| 4,041.61 | 3,860.08 | |
| TOTAL ASSETS | 8,580.13 | 8,468.72 |
| EQUITY AND LIABILITIES | ||
| EQUITY | ||
| Equity Share capital | 146.78 | 138.22 |
| Other Equity | 5,011.51 | 4,842.55 |
| Equity attributable to owners of JISL | 5,158.29 | 4,980.77 |
| LIABILITIES | ||
| Non - Current liabilities | ||
| Financial Liabilities | ||
| (i) Borrowings | 130.45 | 687.75 |
| (ii) Lease Liabilities | 63.12 | 66.65 |
| Provisions | 60.47 | 44.08 |
| 254.04 | 798.48 | |
| Current liabilities | ||
| Financial Liabilities | ||
| (i) Borrowings | 2,279.60 | 1,741.69 |
| (ii) Lease Liabilities | 3.53 | 2.92 |
| (iii) Trade payables | ||
| Total outstanding dues to Micro and Small Enterprises | 43.86 | 52.65 |
| Total outstanding dues to others | 242.03 | 266.84 |
| Acceptances | 176.06 | 156.49 |
| (iv) Other financial liabilities | 198.00 | 209.92 |
| Provisions | 22.02 | 18.87 |
| Other current liabilities | 202.70 | 240.09 |
| 3,167.80 | 2,689.47 | |
| Total Liabilities | 3,421.84 | 3,487.95 |
| Total Equity and Liabilities | 8,580.13 | 8,468.72 |
SINGAPORE INDIAN ASSOCIATION
JAIN
Jain Irrigation Systems Ltd.
Tel: +91.257.2258011; Fax: +91-257-2258111; E-mail: [email protected]; Website: www.jains.com; CIN: L29120MH1986PLC042028
STANDALONE CASH FLOW STATEMENT YEAR ENDED MARCH 31, 2026
| % in Crore | ||
|---|---|---|
| Particulars | Year-Ended | |
| Audited | Audited | |
| 31/Mar/26 | 31/Mar/25 | |
| CASH FLOW FROM OPERATING ACTIVITIES: | ||
| Profit before tax | 67.26 | 37.64 |
| Adjustments for: | ||
| Depreciation and amortisation expense | 167.81 | 159.01 |
| Irrecoverable claims, Bad debts and Provisions for bad and doubtful debts | 49.12 | 12.31 |
| Unrealized forex exchange gain / loss (net) | (1.28) | (5.96) |
| (Gain) / Loss on sale of Property, Plant and Equipment (net) | (0.17) | (0.24) |
| Profit on sale of investments | - | (5.58) |
| Finance cost | 296.27 | 291.69 |
| Provisions no longer required written back | (1.62) | (12.02) |
| Provision for gratuity | 25.07 | 3.22 |
| Provision for leave encashment | (0.43) | 1.98 |
| Sundry credit balance appropriated | - | (0.01) |
| Dividend and Interest income | (19.40) | (11.54) |
| Change in fair value of biological assets | (13.13) | (19.81) |
| Fair value changes of investments | - | 0.01 |
| Employee Stock Option Plan expenses | - | 1.57 |
| Operating profit before changes in assets and liabilities | 569.50 | 452.27 |
| Adjustments for | ||
| Decrease in trade receivables | (140.07) | 109.09 |
| (Increase) / Decrease in inventories and biological assets | 26.51 | (134.38) |
| (Increase) / Decrease in other financial assets | 12.19 | (33.62) |
| (Increase) / Decrease in other assets | (49.96) | (7.83) |
| Increase / (Decrease) in trade payables | (12.72) | (2.90) |
| Increase in other financial liabilities | (9.84) | 0.39 |
| Increase / (Decrease) in other liabilities | (37.39) | 41.61 |
| Cash generated from operations | 358.22 | 424.63 |
| Income tax (paid) / refund | (8.05) | 9.07 |
| Net cash generated from operating activities (a) | 350.17 | 433.70 |
| CASH FLOW FROM INVESTING ACTIVITIES: | ||
| Purchase of property, plant and equipment including intangible assets | (122.93) | (148.78) |
| Proceeds from sale of property, plant and equipment | 1.57 | 3.21 |
| Maturity of fixed deposits (net) | (6.45) | 0.35 |
| Interest & dividend received | 12.13 | 7.42 |
| Net cash (used in) investing activities (b) | (115.68) | (137.80) |
| CASH FLOW FROM FINANCING ACTIVITIES: | ||
| Proceeds by way of issue of equity shares | 149.67 | 14.11 |
| Proceeds from non-current borrowings | 21.88 | 1.06 |
| Repayment towards non-current borrowings | (217.22) | (181.12) |
| Principal payment of lease liability | (2.92) | (1.88) |
| Cash flows arising from changes in ownership interests in a subsidiary that do not result in a loss of control | - | 9.90 |
| Proceeds / (repayment) in working capital borrowings (net) | 83.24 | 69.79 |
| Interest and finance charges paid | (212.00) | (220.08) |
| Dividend and dividend distribution tax paid | - | (0.17) |
| Net cash (used in) financing activities (c) | (177.35) | (308.39) |
| Net (Decrease) in cash and cash equivalents (a+b+c) | 57.14 | (12.49) |
| Cash and cash equivalents as at the beginning of the period | 26.64 | 39.13 |
| Cash and cash equivalents as at the end of the period | 83.78 | 26.64 |
| Cash and cash equivalents includes: | ||
| Cash and cash equivalents | ||
| Cash on hand | 0.82 | 1.22 |
| Bank balances | ||
| - In current accounts | 82.96 | 25.42 |
| Cash and cash equivalents as at the end of the year | 83.78 | 26.64 |
| Overdrawn bank balances (considered as cash and cash equivalents for cash flow) | - | - |
| Cash and cash equivalents as at the end of the year | 83.78 | 26.64 |
The above Cash Flow Statement has been prepared under the "Indirect Method" as set out in the Indian Accounting Standard (Ind AS-7) - Statement of Cash Flow.
JAIN
Tel: +91-257-2258011; Fax: +91-257-2258111; E-mail: [email protected]; Website: www.jains.com; CIN: L29120MH1986PLC042028
STATEMENT OF AUDITED CONSOLIDATED RESULTS FOR THE QUARTER AND YEAR ENDED 31-MAR-2026
| Particulars | Quarter-Ended | Year-Ended | |||
|---|---|---|---|---|---|
| Audited | Un-Audited | Audited | Audited | Audited | |
| 31/Mar/26 | 31/Dec/25 | 31/Mar/25 | 31/Mar/26 | 31/Mar/25 | |
| INCOME | |||||
| Revenue from operations | 1,823.97 | 1,597.58 | 1,748.73 | 6,399.52 | 5,779.34 |
| Other income | 0.66 | 5.28 | 1.42 | 13.79 | 13.90 |
| Total Income | 1,824.63 | 1,602.86 | 1,750.15 | 6,413.31 | 5,793.24 |
| EXPENSES | |||||
| Cost of materials consumed | 971.68 | 910.09 | 894.77 | 3,631.95 | 3,258.07 |
| Change in inventories of finished goods and work in progress | 66.41 | 23.58 | 136.24 | (16.91) | 73.80 |
| Employee benefits expense | 191.54 | 201.91 | 174.92 | 784.98 | 684.84 |
| Finance costs | 116.81 | 111.89 | 111.37 | 458.38 | 432.93 |
| Depreciation and amortisation expense | 74.09 | 69.41 | 67.25 | 281.85 | 252.15 |
| Other expenses | 354.38 | 294.23 | 319.16 | 1,190.58 | 1,045.85 |
| Total expenses | 1,774.91 | 1,611.11 | 1,703.71 | 6,330.83 | 5,748.64 |
| Profit before tax & share in net profit of associate | 49.72 | (8.25) | 46.44 | 82.48 | 44.60 |
| Share of profit/(loss) in associate | (3.52) | (1.73) | (0.16) | (7.55) | 1.88 |
| Profit before exceptional items and tax | 46.20 | (9.98) | 46.28 | 74.93 | 46.48 |
| Exceptional items gain / (loss) | (16.40) | (38.93) | - | (55.33) | - |
| Profit before tax | 29.80 | (48.91) | 46.28 | 19.60 | 46.48 |
| Income tax expense | |||||
| Current tax | 4.35 | 0.64 | 0.80 | 6.34 | 12.14 |
| Deferred tax expenses/(benefit) | 44.49 | (2.07) | 17.62 | 53.25 | 8.65 |
| Total tax expense | 48.84 | (1.43) | 18.42 | 59.59 | 20.79 |
| Profit for the period / year | (19.04) | (47.48) | 27.86 | (39.99) | 25.69 |
| Other comprehensive income | |||||
| (i) Items that will not be reclassified to profit or loss | |||||
| - Remeasurements of defined benefit obligations gains/ (loss) | 1.19 | 0.17 | (1.53) | 6.26 | (0.81) |
| - Net gain / (loss) on fair value of equity instruments | (8.63) | - | - | (8.63) | - |
| - Income tax relating to the above items | 0.07 | (0.01) | 0.52 | (1.60) | 0.28 |
| - Share of OCI in associate | 0.22 | (0.34) | (0.02) | (0.12) | (0.02) |
| (ii) Items that will be reclassified to profit or loss | |||||
| - Exchange differences on translation of foreign operations | 60.44 | 13.73 | 4.06 | 112.98 | 23.68 |
| Other comprehensive income (net of tax) | 53.29 | 13.55 | 3.03 | 108.89 | 23.13 |
| Total comprehensive income for the period / year (after tax) | 34.25 | (33.93) | 30.89 | 68.90 | 48.82 |
| Profit attributable to: | |||||
| Owners of equity | (12.01) | (41.86) | 28.91 | (24.61) | 33.54 |
| Non-controlling interest | (7.03) | (5.62) | (1.05) | (15.38) | (7.85) |
| (19.04) | (47.48) | 27.86 | (39.99) | 25.69 | |
| Other comprehensive income attributable to: | |||||
| Owners of equity | 52.24 | 13.66 | 2.44 | 107.80 | 21.94 |
| Non-controlling interest | 1.05 | (0.11) | 0.59 | 1.09 | 1.19 |
| 53.29 | 13.55 | 3.03 | 108.89 | 23.13 | |
| Total comprehensive income attributable to: | |||||
| Owners of equity | 40.23 | (28.20) | 31.35 | 83.19 | 55.48 |
| Non-controlling interest | (5.98) | (5.73) | (0.46) | (14.29) | (6.66) |
| 34.25 | (33.93) | 30.89 | 68.90 | 48.82 | |
| Paid-up Equity Share Capital (face value of ¥ 2/- each) | 146.78 | 146.78 | 138.22 | 146.78 | 138.22 |
| Other Equity excluding revaluation reserve as per Balance Sheet | 5,703.33 | 5,481.94 | |||
| Earning per Equity Share (of ¥ 2/- each) (Quarterly not annualised) | |||||
| Earnings per equity share | |||||
| Basic earnings per share (in ¥) | (0.17) | (0.57) | 0.42 | (0.34) | 0.49 |
| Diluted earnings per share (in ¥) | (0.17) | (0.57) | 0.41 | (0.34) | 0.48 |
Notes
-
The audited Consolidated financial results of Jain Irrigation Systems Limited (the “Company”) which includes the financial results/financial information of its Subsidiaries (including step down subsidiaries) (collectively the “Group”) and its interest in one Associate for the quarter and year ended March 31, 2026 have been reviewed and recommended by the Audit Committee and subsequently approved by the Board of Directors of the Company at its meeting held on May 15, 2026 and are available on the Company’s website - www.jains.com.
-
The statutory Auditors - M/s Singhi & Co., Chartered Accountants, have carried out audit of the results for the quarter and year ended March 31, 2026.
-
Other expenses includes foreign exchange gain and derivatives loss of ₹ 31.09 Crore, ₹ 3.14 Crore and ₹ (-)1.64 Crore for the quarter ended March 31, 2026, quarter ended December 31, 2025 and quarter ended March 31, 2025 respectively. The amount for year ended March 31, 2026 and for the year ended March 31, 2025 are ₹ 81.34 Crore and ₹ 28.55 Crore respectively.
-
Finance cost includes non-cash transaction being unwinding of 0.01% NCDs/ECBs as per effective interest rate of ₹ 20.32 Crore, ₹ 24.42 Crore and ₹ 18.56 Crore for the quarter ended March 31, 2026, quarter ended December 31, 2025 and quarter ended March 31, 2025 respectively. The amount for year ended March 31, 2026 and for the year ended March 31, 2025 are ₹ 83,61 Crore and ₹ 72.15 Crore respectively.
-
During the quarter ended June 30, 2025, the Parent Company received the balance 75% of allotment money amounting to ₹ 149.67 Crore from the warrant holders against the allotment of 42,786,430 Ordinary Equity Shares on conversion of the Equity Share Warrants.
-
During the quarter ended September 30, 2025, the Subsidiary Company Jain (Europe) Limited has acquired 72.5% stake in Harlequin Manufacturing Ltd, UK engaged in manufacturing of Polyethylene Storage Tanks & Systems for a consideration of ₹ 82.13 Crore. The acquisition has been accounted as business combination as per guidance given in IND AS 103 and group has recognised goodwill of ₹ 30.56 Crore pending final assessment of fair value of assets and liability during measurement period.
-
On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Group has assessed and disclosed the incremental impact of these changes and considering the materiality and regulatory-driven, non-recurring nature of this impact, the Group has presented such incremental impact as Statutory impact of new Labour Codes under Exceptional Items in the Consolidated statement of profit and loss for the period ended December 31, 2025. The incremental impact consisting of gratuity of ₹ 23.97 Crore primarily arises due to change in wage definition. The Group is currently assessing the impact of the new Labour Codes on other aspects, including the contract workforce and other employee-related obligations and continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed. Further, exceptional items include ₹ 14.91 Crore as de-recognition of goodwill on account of liquidation of one of the non-operational subsidiary company of the Group and expenses incurred by a subsidiary company ₹ 16.45 Crore on account of a prolonged disruption in production arising from the immediate shutdown and repair of critical plant equipment, which are not in the ordinary course of business.
-
Pursuant to the amendments introduced by the Finance Act, 2026, which permit utilizing accumulated Minimum Alternate Tax (MAT) credit after transitioning to the concessional tax regime, the Parent company and one of the Indian Subsidiary evaluated the option under Section 115BAA of the Income-tax Act, 1961, to pay tax at a reduced rate of 22% (plus applicable surcharge and cess). The entities intends to migrate to this lower tax regime effective April 1, 2026, restricting MAT credit utilization to 25% of the annual tax liability for each year. Accordingly, deferred tax assets and liabilities have been remeasured based on the expected reversal period and the revised 25.17% effective tax rate, resulting in a net charge of ₹ 34.13 crores to the Statement of Profit and Loss for the year ended March 31, 2026 included under deferred tax.
-
Until March 31, 2025, the Group presented the ‘Other Division’ as a separate reportable segment, comprising Solar Thermal Products, Solar Photovoltaic Systems, Solar Power Packs, Solar Power Generation, and Agri R&D Activities. Effective from April 01, 2025, in line with the revised internal reporting structure used for providing financial information to the Chief Operating Decision Maker (CODM), the Group has included the ‘Other Division’ into the ‘High-tech Agri Input Products’ segment. Additionally, to improve the quality of information presented, certain expenses have been specifically allocated to individual segments during the quarter. Accordingly, the segment information for the previous reported period has been restated to reflect these changes.
-
Ongoing geopolitical conflict in the Middle East involving the U.S. and Iran has resulted in disrupted in the availability and increase in the cost of raw materials used in manufacturing our products. The Group has taken various steps to mitigate this impact and continues to monitor the situation closely for any potential long-term indirect effects on energy prices or global trade routes that could influence future reporting period.
-
The figures of the last quarter are the balancing figures between audited figures in respect of full financial year up to March 31, 2026/ March 31, 2025 and the unaudited published year-to-date figures up to December 31, 2025 / December 31, 2024 being the figures up to the end of the third quarter of financial year respectively which were subject to limited review.
-
The figures of the previous period / year have been regrouped, rearranged, reclassified or reworked as necessary to confirm the current quarter / period classification.
JAIN
QUARTER ENDED REPORTING OF CONSOLIDATED SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITY UNDER REGULATION 33 OF SEBI
(LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATION 2015
¶ In Crore
| Particulars | Quarter-Ended | Year-Ended | ||||
|---|---|---|---|---|---|---|
| Audited | Un-Audited | Audited | Audited | Audited | ||
| 31/Mar/26 | 31/Dec/25 | 31/Mar/25 | 31/Mar/26 | 31/Mar/25 | ||
| 1 | Segment Revenue : (Revenue from operations) | |||||
| a) Hi-tech Agri Input Products | 664.97 | 625.47 | 616.60 | 2,342.89 | 1,944.83 | |
| b) Plastic Division | 579.82 | 462.74 | 587.31 | 1,994.61 | 1,948.66 | |
| c) Agro Processing Division | 579.18 | 509.37 | 544.82 | 2,062.02 | 1,885.85 | |
| Total | 1,823.97 | 1,597.58 | 1,748.73 | 6,399.52 | 5,779.34 | |
| Less : Inter Segment Revenue | - | - | - | - | - | |
| Revenue from operations | 1,823.97 | 1,597.58 | 1,748.73 | 6,399.52 | 5,779.34 | |
| 2 | Segment Result | |||||
| a) Hi-tech Agri Input Products | 93.41 | 58.64 | 84.14 | 263.29 | 212.82 | |
| b) Plastic Division | 41.68 | 15.95 | 63.01 | 142.03 | 195.44 | |
| c) Agro Processing Division | 24.93 | 2.41 | 2.12 | 102.73 | 76.60 | |
| Total | 160.02 | 77.00 | 149.27 | 508.05 | 484.86 | |
| Un-allocable expenditure (net): | ||||||
| Less: i) Finance Costs | 116.81 | 111.89 | 111.37 | 458.38 | 432.93 | |
| ii) Share of (profit)/loss in associate (net of tax) | 3.52 | 1.73 | 0.16 | 7.55 | (1.88) | |
| iii) Other un-allocable expenditure (net) | (6.51) | (26.64) | (8.54) | (32.81) | 7.33 | |
| Profit before exceptional Items and tax | 46.20 | (9.98) | 46.28 | 74.93 | 46.48 | |
| Exceptional items gain / (loss) | (16.40) | (38.93) | - | (55.33) | - | |
| Profit before tax | 29.80 | (48.91) | 46.28 | 19.60 | 46.48 | |
| 3A | Segment Assets | |||||
| a) Hi-tech Agri Input Products Division | 4,929.02 | 4,950.93 | 4,869.40 | 4,929.02 | 4,869.40 | |
| b) Plastic Division | 2,100.41 | 1,976.45 | 1,750.45 | 2,100.41 | 1,750.45 | |
| c) Agro Processing Division | 3,244.54 | 3,172.64 | 2,976.69 | 3,244.54 | 2,976.69 | |
| d) Un-allocable | 1,881.47 | 1,872.15 | 1,847.25 | 1,881.47 | 1,847.25 | |
| Total Assets | 12,155.44 | 11,972.17 | 11,443.79 | 12,155.44 | 11,443.79 | |
| 3B | Segment Liabilities | |||||
| a) Hi-tech Agri Input Products Division | 485.54 | 508.13 | 577.13 | 485.54 | 577.13 | |
| b) Plastic Division | 810.32 | 838.69 | 583.89 | 810.32 | 583.89 | |
| c) Agro Processing Division | 2,184.73 | 2,095.61 | 1,860.42 | 2,184.73 | 1,860.42 | |
| d) Un-allocable | 2,824.74 | 2,716.96 | 2,802.19 | 2,824.74 | 2,802.19 | |
| Total Liabilities | 6,305.33 | 6,159.39 | 5,823.63 | 6,305.33 | 5,823.63 |
Segment Note
1) Group has considered business segment for reporting purpose, primarily based on customer category. The products considered for the each business segment are:
a) Hi-tech Agri Input Products division includes Micro Irrigation Systems, Solar Agri Pump, Integrated Irrigation Projects, Tissue Culture Plants, Solar Thermal Products, Solar Photovoltaic System, Solar Power Pack, Solar Power generation and Agri R&D Activities.
b) Plastic Division includes PVC Piping Products, PE Piping Products, Piping Projects and Plastic Sheets.
c) Agro Processing includes Fruits, Onion Products, Spices and Bio Gas.
2) The revenue & results figure given above are directly identifiable to respective segments and expenditure on common services incurred at the corporate level are not directly identifiable to respective segments have been shown as "Other Un-allocable Expenditure".
3) Segment Assets & Liability figures given above are directly identifiable to respective segments and Assets & Liability for corporate services for head office and investments have been shown as "Un-allocable".
4) Total segment liabilities includes non-controlling interest of ₹ 147.71 Crore, ₹ 150.79 Crore, and ₹ 139.54 Crore as at March 31, 2026, December 31, 2025 and March 31, 2025 respectively
Jalgaon, May 15, 2026
SINGHI & CO. V. Jaished Accountant
Coordination of Agri R&D, Jaished, and Coordination, India
For Jain Irrigation Systems Ltd.,
Anil B. Jain
Vice Chairman & Managing Director
Jain
Regd. Off. Jain Plastic Park, N.H. No.53, Bambhort, Jalgaon - 425001, India.
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
| Particulars | As at | |
|---|---|---|
| Audited | Audited | |
| 31/Mar/26 | 31/Mar/25 | |
| ASSETS | ||
| Non-current assets | ||
| Property, Plant and Equipment | 4,147.99 | 3,935.66 |
| Right to Use | 258.18 | 267.12 |
| Capital work-in-progress | 59.20 | 43.84 |
| Goodwill on consolidation | 178.35 | 147.79 |
| Investment property | 9.20 | 11.50 |
| Other Intangible Assets | 19.35 | 30.47 |
| Investments accounted for using the equity method | 37.18 | 44.84 |
| Financial Assets | ||
| (i) Other investments | 1,293.68 | 1,177.25 |
| (ii) Other financial assets | 172.92 | 168.00 |
| Deferred tax assets (net) | 145.86 | 175.70 |
| Income Tax assets (net) | 43.50 | 30.71 |
| Other non-current assets | 42.03 | 35.05 |
| 6,407.44 | 6,067.93 | |
| Current assets | ||
| Inventories | 1,882.01 | 1,850.67 |
| Biological assets other than bearer plants | 200.61 | 158.68 |
| Financial Assets | ||
| (i) Trade Receivables | 2,273.94 | 2,122.08 |
| (ii) Cash and cash equivalent | 122.07 | 80.36 |
| (iii) Bank balances other than (ii) above | 31.03 | 20.72 |
| (iv) Loans | 31.80 | 28.91 |
| (v) Other financial assets | 497.60 | 505.84 |
| Other current assets | 708.94 | 608.60 |
| 5,748.00 | 5,375.86 | |
| Total assets | 12,155.44 | 11,443.79 |
| EQUITY AND LIABILITIES | ||
| EQUITY | ||
| Equity Share capital | 146.78 | 138.22 |
| Other Equity | 5,703.33 | 5,481.94 |
| Equity attributable to equity holders of the parent | 5,850.11 | 5,620.16 |
| Non-controlling interests | 147.71 | 139.54 |
| Total Equity | 5,997.82 | 5,759.70 |
| LIABILITIES | ||
| Non - Current liabilities | ||
| Financial Liabilities | ||
| (i) Borrowings | 864.77 | 1,282.30 |
| (ii) Lease Liabilities | 221.34 | 225.34 |
| (iii) Other financial liabilities | 9.42 | - |
| Provisions | 73.60 | 54.99 |
| Deferred tax liabilities (net) | 47.66 | 22.01 |
| 1,216.79 | 1,584.64 | |
| Current liabilities | ||
| Financial Liabilities | ||
| (i) Borrowings | 3,197.69 | 2,519.03 |
| (ii) Lease Liabilities | 21.96 | 21.04 |
| (iii) Trade payables | ||
| Total outstanding dues to Micro and Small Enterprises | 65.28 | 78.33 |
| Total outstanding dues to others | 819.62 | 589.79 |
| Acceptances | 209.72 | 238.55 |
| (iv) Other financial liabilities | 310.45 | 317.88 |
| Provisions | 28.95 | 25.37 |
| Other current liabilities | 283.34 | 293.96 |
| Current tax liabilities (net) | 3.82 | 15.50 |
| 4,940.83 | 4,099.45 | |
| Total Liabilities | 6,157.62 | 5,684.09 |
| Total Equity and Liabilities | 12,155.44 | 11,443.79 |
JAIN
Small Ideas, Big Revolutions.
Regd. Off: Jain Plastic Park, N.H. No.53, Rambhori, Jalgaon - 425001, India.
Tel: +91-257-2258011; Fax: +91-257-2258111; E-mail: [email protected]; Website: www.jains.com;
CIN: L29120MH1986PLC042028
CONSOLIDATED CASH FLOW STATEMENT FOR YEAR ENDED MAR 31, 2026
| Particulars | % in Crore | |
|---|---|---|
| Consolidated | ||
| Year-Ended | Year-Ended | |
| Audited | Audited | |
| CASH FLOW FROM OPERATING ACTIVITIES: | ||
| Profit before tax | 19.60 | 46.48 |
| Adjustments for: | ||
| Depreciation and amortisation expense | 281.85 | 253.15 |
| Irrecoverable claims, Bad debts and Provisions for bad and doubtful debts | 56.59 | 17.19 |
| Unrealized forex exchange gain / loss (net) | 2.17 | (16.57) |
| (Gain) / Loss on sale of Property, Plant and Equipment (net) | (0.12) | 0.06 |
| Share of (profit) in associate | 7.67 | (1.86) |
| Finance cost | 458.38 | 432.93 |
| Provisions no longer required written back | (1.66) | (18.49) |
| Provision for gratuity | 20.12 | 5.98 |
| Provision for leave encashment | (0.61) | 2.02 |
| Sundry credit balance appropriated | (0.10) | (2.10) |
| Dividend and Interest Income | (13.67) | (13.90) |
| Fair value changes of biological assets | (13.13) | (19.81) |
| Fair value changes of investments | - | 0.01 |
| Employee Stock Option Plan expenses | - | 1.57 |
| Operating profit before assets and liabilities | 817.09 | 686.66 |
| Adjustments for | ||
| Decrease / (Increase) in trade receivables | (153.09) | 85.90 |
| (Increase) in inventories and biological assets | (39.45) | (18.30) |
| (Increase) / Decrease in other financial assets | 0.59 | (17.09) |
| (Increase) / Decrease in other assets | (118.74) | (15.53) |
| Increase in trade payables | 166.60 | 56.18 |
| (Decrease) / Increase in other financial liabilities | (12.79) | (19.42) |
| Increase / (Decrease) in other liabilities | (10.63) | 42.75 |
| Cash generated from operations | 649.58 | 801.15 |
| Income tax paid | (30.81) | (7.38) |
| Net cash generated from operating activities [a] | 618.77 | 793.77 |
| CASH FLOW FROM INVESTING ACTIVITIES: | ||
| Purchase of property, plant and equipment including Intangible assets | (353.58) | (245.44) |
| Proceeds from sale of property, plant and equipment | 19.20 | 8.17 |
| Purchase of investments | (0.45) | (0.01) |
| Investment in subsidiary companies | (82.13) | - |
| Maturity of fixed deposits (net) | (10.52) | (0.39) |
| Interest & dividend received | 13.05 | 8.98 |
| Net cash (used in) investing activities [b] | (414.43) | (228.69) |
| CASH FLOW FROM FINANCING ACTIVITIES: | ||
| Proceeds by way of issue of equity shares | 149.67 | 14.11 |
| Investment by minority shareholder | (0.54) | - |
| Proceeds from non-current borrowings | 324.52 | 39.02 |
| Repayment towards non-current borrowings | (361.06) | (297.40) |
| Proceeds / (repayment) in working capital borrowings (net) | 111.68 | 49.89 |
| Cash flows arising from changes in ownership interests in a subsidiary that do not result in a loss of control | - | 9.90 |
| Interest and finance charges paid | (370.59) | (355.35) |
| Principal payment of lease liability | (24.27) | (32.24) |
| Dividend and dividend distribution tax paid | - | (0.17) |
| Net cash (used in) financing activities [c] | (170.59) | (572.24) |
| Net (Decrease) in cash and cash equivalents [a+b+c] | 33.75 | (7.16) |
| Cash and cash equivalents as at the beginning of the year | 80.36 | 87.52 |
| Add : Cash Acquired upon addition of subsidiary | 7.96 | |
| Cash and cash equivalents as at the end of the year | 122.07 | 80.36 |
| Cash and cash equivalents includes: | ||
| Cash and cash equivalents | ||
| Cash on hand | 0.91 | 1.29 |
| Bank balances | ||
| - In current accounts | 121.16 | 76.88 |
| Fixed deposits (having maturity value less than 3 months) | - | 2.19 |
| Cash and cash equivalents as at the end of the year | 122.07 | 80.36 |
The above Cash Flow Statement has been prepared under the "Indirect Method" as set out in the Indian Accounting Standard (Ind AS-7) - Statement of Cash Flow.
Jain
Regd. Office: Jain Plastic Park, P.O.Box: 72, N.H.No. 53, Jalgaon - 425 001. India.
Tel: +91-257-2258011; Fax: +91-257-2258111; E-mail: [email protected]; Visit us at: www.jains.com
JISL/SEC/2026/05/B-2/B-6
May 15, 2026
To,
BSE Ltd.,
Corporate Relationship Department,
1st Floor, New Trading Wing, Rotunda
Building, P. J. Tower, Dalal Street,
Mumbai - 400 001.
Email: [email protected]
To,
National Stock Exchange of India Ltd.,
Exchange Plaza, C-1, Block G,
Bandra Kurla Complex,
Bandra (East),
Mumbai - 400 051.
Email: [email protected]
Ref: Code No. 500219 (BSE) & JISLJALEQS (NSE) for Ordinary Equity Shares
Code No. 570004 (BSE) & JISLDVREQS (NSE) for DVR Equity Shares
Sub: Declaration pursuant to Regulation 33 (3) (d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
Pursuant to Regulation 33 (3) (d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we hereby confirm that the Statutory Auditors of the Company i.e. M/s. Singhi & Co., Chartered Accountants, Kolkata have issued an Audit Report with unmodified and unqualified opinion on the Audited Financial Results of the Company (Standalone and Consolidated) for the quarter and year ended March 31, 2026.
The Audit Report is attached for your reference and record.
Please receive the above in order and acknowledge.
Thanking you,
Yours faithfully,
For Jain Irrigation Systems Ltd.
A. V. Ghodgaonkar
Company Secretary
Singhi & Co.
Chartered Accountants
161, Sarat Bose Road
Kolkata-700 026, (India)
T +91(0)33-2419 6000/01/02
E [email protected]
www.singhico.com
Independent Auditor's Report on Standalone Annual Financial Results of Jain Irrigation Systems Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To the Board of Directors of Jain Irrigation Systems Limited
Opinion
We have audited the accompanying statement of standalone annual financial results of Jain Irrigation Systems Limited (hereinafter referred to as the ‘Company’) for the year ended March 31, 2026 and the standalone statement of assets and liabilities and the standalone statement of cash flows as at and for the year ended on that date, attached herewith, being submitted by the Company pursuant to the requirement of Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone annual financial results:
(i) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
(ii) give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the “Act”) and other accounting principles generally accepted in India, of net profit and total comprehensive income and other financial information of the Company for the year ended March 31, 2026 and the standalone statement of assets and liabilities and the standalone statement of cash flows as at and for the year ended on that date.
Basis for opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the ‘Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results’ section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (the ICAI) together with the ethical requirements that are relevant to our audit of the standalone annual financial results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.
Management and Board of Directors’ responsibilities for the standalone annual financial results
These standalone annual financial results have been prepared on the basis of the standalone annual financial statements. The Company’s Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Company and the standalone statement of assets and liabilities and the standalone statement of cash flows in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulations 33 of the Listing Regulations. The Board of Directors of the Company are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial statements/ results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the standalone annual financial results by the Directors of the Company, as aforesaid.
Office: Kolkata, Delhi NCR, Mumbai, Chennai, Bengaluru, Pune & Raipur
Singhi & Co.
Chartered Accountants
...contd.
In preparing the standalone annual financial results, the Board of Directors of the Company is responsible for assessing the ability of the Company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors of the Company are responsible for overseeing the financial reporting process of the Company.
Auditor’s responsibilities for the audit of the standalone annual financial results
Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
-
Evaluate the appropriateness and reasonableness of disclosures made by the Management and Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
-
Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the standalone annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the standalone annual financial results, including the disclosures, and whether the standalone annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
-
Obtain sufficient appropriate audit evidence regarding the standalone annual financial results of the Company to express an opinion on the standalone annual financial results.
Materiality is the magnitude of misstatements in the standalone annual financial results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the standalone annual financial results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the standalone annual financial results.
We communicate with those charged with governance of the Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have
SINGHI & CO.
Chartered Accountants
Singhi & Co.
Chartered Accountants
...contd.
complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other matters
The figures for the quarter ended March 31, 2026 and the corresponding quarter ended in the previous year as reported in the Statement are the balancing figures between audited figures in respect of the full financial year ended on March 31, 2026 / March 31, 2025 and the published year to date figures up to the end of the third quarter of the current and previous financial year respectively. Also, the figures up to the end of the third quarter of the current and previous financial year had only been reviewed by us as required under the Listing Regulations and not audited.
The standalone annual financial results dealt with by this report have been prepared for the express purpose of filing with stock exchanges. These results are based on the audited standalone financial statements of the Company for the year ended March 31, 2026 on which we issued an unmodified audit opinion vide our report dated May 15, 2026.
For Singhi & Co.
Chartered Accountants
Firm Registration Number: 302049E
Navindra Kumar Surana
Partner
Membership Number 053816
UDIN: 26053816YUVUK1330
Place: Jalgaon
Date: May 15, 2026
Singhi & Co.
Chartered Accountants
161, Sarat Bose Road
Kolkata-700 026, (India)
T +91(0)33-2419 6000/01/02
E [email protected]
www.singhico.com
Independent Auditor's Report on Consolidated Annual Financial Results of Jain Irrigation Systems Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To the Board of Directors of Jain Irrigation Systems Limited
Opinion
We have audited the accompanying statement of consolidated annual financial results of Jain Irrigation Systems Limited (hereinafter referred to as the ‘Parent Company’) and its subsidiaries (Parent Company and its subsidiaries together referred to as ‘the Group’) and its associate and joint venture for the year ended March 31, 2026 and the consolidated statement of assets and liabilities and the consolidated statement of cash flows as at and for the year ended on that date (together referred to as the ‘consolidated annual financial results’), attached herewith, being submitted by the Parent Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’).
In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial statements/financial information of the subsidiaries, associate and joint venture, the aforesaid consolidated annual financial results:
(i) includes the financial results of entities listed in Annexure 1;
(ii) are presented in accordance with the requirements of Regulation 33 of Listing Regulations in this regard; and
(iii) give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the “Act”) and other accounting principles generally accepted in India, of net loss and total comprehensive income and other financial information of the Group and its associate and joint venture for the year ended March 31, 2026 and the consolidated statement of assets and liabilities and the consolidated statement of cash flows as at and for the year ended on that date.
Basis for opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the ‘Auditor’s responsibilities for the audit of the consolidated annual financial results’ section of our report. We are independent of the Group and its associate and joint venture in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (the ICAI) together with the ethical requirements that are relevant to our audit of the consolidated annual financial results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in “Other Matter” paragraph below, is sufficient and appropriate to provide a basis for our opinion.
Management and Board of directors’ responsibilities for the consolidated annual financial result
These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements. The Parent Company’s Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net loss and consolidated total comprehensive income and other financial information of the Group and its associate and joint venture and the consolidated statement of assets and liabilities and the consolidated statement of cash flows in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.
Offices: Kolkata, Delhi NCR, Mumbai, Chennai, Bengaluru, Pune & Raipur
The respective Board of Directors of the Companies included in the Group and its associate and joint venture are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and its associate and joint venture and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated annual financial results by the Directors of the Parent Company, as aforesaid.
In preparing the consolidated annual financial results, the respective Board of Directors of the Companies included in the Group and its associate and joint venture are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the respective entities or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the Companies included in the Group and its associate and joint venture are responsible for overseeing the financial reporting process of the Group and its associate and joint venture.
Auditor’s responsibilities for the audit of the consolidated annual financial results
Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the consolidated annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Parent Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
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Evaluate the appropriateness and reasonableness of disclosures made by the Management and Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
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Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its associate and joint venture to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group and its associate and joint venture to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the consolidated annual financial results, including the disclosures, and whether the consolidated annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
SINGHI & CO.
Chartered Accountants
- Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group and its associate and joint venture to express an opinion on the consolidated annual financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated annual financial results of which we are the independent auditors. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in the "Other Matters" paragraph in this audit report.
Materiality is the magnitude of misstatements in the consolidated annual financial results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the consolidated annual financial results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the consolidated annual financial results.
We communicate with those charged with governance of the Parent Company, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
Other matters
(i) We did not audit the financial statements/financial information of 25 subsidiaries (including step-down subsidiaries) included in the consolidated annual financial results. These subsidiaries reflect, before consolidation adjustments, total assets of INR 7803.45 crores and net assets of INR 3820.00 crores as at March 31, 2026, as well as total revenue (including other income) of INR 2782.10 crores, net profit after tax of INR (-) 69.98 crores, total comprehensive income of INR (-) 69.98 crores and net cash outflows of INR 22.37 crores for the year then ended. The consolidated annual financial results also include the financial information of 1 step down subsidiary, whose financial information reflect, before consolidation adjustment reflect total assets of INR 162.88 crores and net assets of INR 77.54 crores as at March 31, 2026, as well as total revenue (including other income) of Rs. 157.46 crores, total net profit/(loss) after tax of Rs. 2.46 crores and total comprehensive income/(loss) of Rs. 2.46 crores for the period from July 01, 2025 to March 31, 2026, and net cash inflows of INR 2.38 crores for the year then ended. The consolidated annual financial results also include the Group's share of net profit after tax of INR (-) 7.55 crores and total comprehensive income of INR (-) 7.67 crores for the year ended March 31, 2026 in respect of one associate. These financial statements/financial information have been audited by other auditors in accordance with Indian GAAP/Local GAAP, and their reports have been furnished to us. Our opinion, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the reports of the other auditors and the procedures performed by us as stated in the Auditor's Responsibilities section of our report.
Of the above, 25 subsidiaries (including step-down subsidiaries) are located outside India, and their financial statements/financial information prepared in their respective functional currencies were audited by other auditors. The Parent Company's Management has converted the financial statements of such subsidiaries into the reporting currency, i.e., Indian Rupees (INR). We have audited the conversion adjustments made by the Management. In our opinion, insofar as it relates to the financial information of such subsidiaries located outside India, our report is based on the reports of the respective auditors and the conversion adjustments audited by us.
(ii) The consolidated annual financial results also include the financial statements/financial information of three step-down subsidiaries whose financial statements (before consolidation adjustments) reflect total assets of INR 13.08 crores and net assets of INR (-) 5.03 crores as at March 31, 2026, and total revenue (including other income and exceptional gain) of INR 37.61 crores, net profit after tax of INR 17.88 crores, total comprehensive income of INR 17.88 crores, and net cash outflows of INR (-) 1.26 crores for the year then ended. These financial statements/financial information have not been audited and have been certified by the respective managements of those entities. According to the information and explanations provided to us by the Management of the Parent Company, these financial statements/financial information are not material to the Group.
SINGHI & CO.
(iii) The management has confirmed that 1 (one) joint venture has been incorporated on December 16, 2025, which has not carried out any financial activity during the period from December 16, 2025 to March 31, 2026 and accordingly, no financial statement have been prepared.
Our opinion on the Consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the financial statements/financial information certified by the respective company’s management and furnished to us by the Management of the Parent Company.
(iv) The Statement includes the results for the quarter ended March 31, 2026 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2026 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
(v) The consolidated annual financial results dealt with by this report have been prepared for the express purpose of filing with stock exchange. These results are based on the audited consolidated annual financial statements of the Group and its associate and joint venture for the year ended March 31, 2026, on which we have issued an unmodified audit opinion vide our report dated May 15, 2026.
For Singhi & Co.
Chartered Accountants
Firm Registration No.302049E
Navindra Kumar Surana
Partner
Membership No.053816
UDIN: 26053816 DEG NDF5220
Place: Jalgaon
Date: May 15, 2026
Annexure 1 of Independent Auditor’s Report on Consolidated Annual Financial Results of Jain Irrigation Systems Limited to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
Details of the financial results of entities include in Consolidated Annual Financial Results:
| Sr. No. | Name of the Entity | Relationship |
|---|---|---|
| 1. | Jain Irrigation Systems Limited | Parent |
| 2. | Jain Farm Fresh Foods Limited | Subsidiary Company |
| 3. | JISL Overseas Limited, Mauritius | Subsidiary Company |
| 4. | Jain International Trading B.V., Netherlands | Subsidiary Company |
| 5. | Jain Processed Foods Trading and Investments Private Limited | Subsidiary Company |
| 6. | Jain America Foods Inc., U.S.A. | Step down Subsidiary |
| 7. | Jain (Europe) Limited, U.K. | Step down Subsidiary |
| 8. | Jain International Foods Limited, U.K. | Step down Subsidiary |
| 9. | Jain Overseas B.V., Netherlands | Step down Subsidiary |
| 10. | Jain (Israel) B.V., Netherlands | Step down Subsidiary |
| 11. | Jain Farm Fresh Foods Inc., U.S.A. | Step down Subsidiary |
| 12. | Jain Irrigation Holding Inc., U.S.A. | Step down Subsidiary |
| 13. | Sleaford Food Group Limited, U.K. | Step down Subsidiary |
| 14. | Sleaford Quality Foods Limited, U.K. | Step down Subsidiary |
| 15. | Arnolds Quick Dried Foods Limited, U.K. | Step down Subsidiary |
| 16. | Ex-Cel Plastics Limited, Ireland | Step down Subsidiary |
| 17. | Driptech India Private Limited | Step down Subsidiary |
| 18. | Excel Plastic Piping Systems SAS, France* | Step down Subsidiary |
| 19. | Jain MENA DMCC, Dubai | Step down Subsidiary |
| 20. | Jain Farm Fresh Holdings SPRL, Belgium | Step down Subsidiary |
| 21. | Northern Ireland Plastics Limited, U.K. | Step down Subsidiary |
| 22. | Innova Food N.V., Belgium | Step down Subsidiary |
| 23. | JIIO, U.S.A. | Step down Subsidiary |
| 24. | Jain Farm Fresh Gida Sanayi VeTicaretAnonimSirketi, Turkey | Step down Subsidiary |
| 25. | Solution Key Limited, Hong Kong | Step down Subsidiary |
| 26. | Killyleagh Box Co. Ltd.,U.K. | Step down Subsidiary |
| 27. | Pecific Shelf 1218 Ltd.,U.K | Step down Subsidiary |
| 28. | Packless (Europe) Ltd.,U.K | Step down Subsidiary |
| 29. | Jain America Inc., U.S.A. | Step down Subsidiary |
| 30. | Boomer Industries Limited | Step down Subsidiary |
| 31. | Harlequin Manufacturing Ltd. (w.e.f. 01-07-2025) | Step down Subsidiary |
| 32. | Sustainable Agro – Commercial Finance Limited | Associate Company |
| 33. | Jain Kagome Foods Private Limited (w.e.f. 16-12-2025) | Joint Venture |
- Liquidated on November 03, 2025
