The announcement was made on Sunday, 11 December 2011.
Meanwhile, the BSE Sensex was up 36.79 points, or 0.23%, to 16,250.25.
On BSE, 71,000 shares were traded in the counter as against an average daily volume of 3.35 lakh shares in the past one quarter.
The stock hit a high of Rs 114 and a low of Rs 111.20 so far during the day. The stock had hit a 52-week low of Rs 106.35 on 8 November 2011. The stock had hit a 52-week high of Rs 234 on 7 January 2011.
The stock had outperformed the market over the past one month until 9 December 2011, falling 3.21% compared with the Sensex's 6.62% decline. The scrip had, however, underperformed the market in past one quarter, sliding 32.36% as against 3.87% fall in the Sensex.
The mid-cap micro irrigation products maker has an equity capital of Rs 81.03 crore. Face value per share is Rs 2.
Jain Irrigation Systems said the fire was contained in short period of time without significant damage to life or property. The incident has resulted in loss or damage of certain quantity of finished pipes. Total value of damage is being ascertained. All stocks of the company are covered under appropriate insurance.
The firm said the cause of fire was not known and investigation are under way with help of experts to ascertain the cause so as to avoid recurrence in future.
The company said the fire and consequent damage is not expected to have any material adverse impact on the company's operations and financials. All plants have started functioning as per schedule, the company added.
Jain Irrigation Systems' net profit fell 81.3% to Rs 11.57 crore on 17.8% rise in net sales to Rs 750.31 crore in Q2 September 2011 over Q2 September 2010. The net profit was weighed due to notional foreign exchange loss due to steep depreciation of rupee against dollar in last fortnight of September 2011.
Jain Irrigation makes drip and sprinkler irrigation systems and components; PVC, polyethylene (HDPE, MDPE) and polypropylene piping systems; plastic sheets (PVC & PC sheets); dehydrated onions and vegetables; processed fruits; tissue culture, hybrid & grafted plants; greenhouses, poly and shade houses; bio-fertilizers; solar water heating systems and solar photovoltaic appliances (solar lighting systems) and bio-energy sources.
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