Jain Irrigation secures order from Cauvery Neeravari Nigam
Amir Shaikh / 21 Apr 2017
The awarded project, which is valued at Rs 569 crore is around 32 per cent of the company’s current order book (from India) of Rs 1781.8 crore.
Jain Irrigation System has informed bourses today that it has secured India’s largest Poorigali integrated micro irrigation project worth Rs 569 crore from Cauvery Neeravari Nigam Ltd., Government of Karnataka.
The project has been awarded with the intention to provide more healthy crops to farmers, and the project is based on ‘resource to root’. Through this unique project 85 per cent water use efficiency will be achieved, and more than 15000 farmers will be benefited.
The project will cover 25317 acres of farm area spread over 51 villages. The project is expected to be completed in 18 months.
The said project which is valued at Rs 569 crore is around 32 per cent of the company’s current order book (from India) of Rs 1781.8 crore. Out of company’s current order book, Hi-tech Agri input production division contributes major share of Rs 777.2 crore. This order book gives revenue visibility in coming quarters.
In last quarter (Q3FY17) company’s standalone total income came in at Rs 816.6 crore, and in same period company generated 53 per cent of its revenue from India, while rest from overseas.
However, the stock of Jain Irrigation System currently (at 12.55 p.m) is down by 1.8 per cent, and is trading at Rs 111.85 on BSE.
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