Jain Irrigation Systems spurted 16.99% to Rs 66.45 at 11:08 IST on BSE after consolidated reported profit after tax rose 30.81% to Rs 98.50 crore in Q4 March 2015 over Q4 March 2014.
The Q4 result was announced after market hours on Friday, 15 May 2015.
Meanwhile, the S&P BSE Sensex was up 98.63 points or 0.36% at 27,422.63.
On BSE, so far 19.77 lakh shares were traded in the counter as against average daily volume of 4.74 lakh shares in the past one quarter.
The stock hit a high of Rs 66.85 and a low of Rs 60.25 so far during the day. The stock had hit a 52-week high of Rs 133.45 on 8 July 2014. The stock had hit a 52-week low of Rs 55.30 on 13 May 2015.
The stock had underperformed the market over the past one month till 15 May 2015, sliding 13.87% compared with Sensex's 5.12% fall. The scrip had also underperformed the market in past one quarter, declining 12.95% as against Sensex's 6.09% fall.
The small-cap company has equity capital of Rs 88.62 crore. Face value per share is Rs 2.
Jain Irrigation Systems' revenue including other operating income and excise duty rose 11.92% to Rs 2104.10 crore in Q4 March 2015 over Q4 March 2014. EBITDA (earnings before interest, taxation, depreciation and amortization) rose 11.47% to Rs 313.80 crore in Q4 March 2015 over Q4 March 2014.
Jain Irrigation Systems' Managing Director and CEO Mr. Anil Jain said that the company has declared satisfactory results. It has maintained double digit growth despite significantly adverse agriculture situation in the country, Jain said. Apart from good results, the company has also reduced its consolidated debt by Rs 362 crore in line with its stated plan to deleverage company while ensuring positive growth, he added. The company's outlook for the coming year is cautiously optimistic because of continued challenges in agriculture and rural area, Jain said. Post monsoon better clarity will emerge, he added.
Jain Irrigation Systems is engaged in manufacturing of micro irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.
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