What is wrong with Jain Irrigation?
What is wrong with Jain Irrigation?
Rating firms had downgraded the company due to delay in servicing debt. Last year, S&P had downgraded it to ‘D’ (default grade) for missing interest payments due on February 1, 2020. Similarly, Care Ratings had downgraded Jain Irrigation to ‘D’ in 2019 due to a delay in servicing debt.
Who is the owner of Jain Irrigation?
Shri Ashok Bhavarlal Jain
Shri Ashok Bhavarlal Jain, Chairperson, Executive Director Ashok Jain is the Chairman of Jain Irrigation Systems Limited and a well-known entrepreneur working for agriculture for the past over 4 decades. He is 56 years old and is the eldest son of Late Dr. Bhavarlal Jain, the Founder Chairman.
Where is drip irrigation used in India?
Sikkim, Andhra Pradesh, Karnataka and Maharashtra lead is usage of drip irrigation.
What is the business of Jain Irrigation?
Jain Irrigation Systems
| The Jains Plastic Park in Jalgaon, India | |
|---|---|
| Industry | Agriculture, Irrigation, pipe, Food processing, Solar energy |
| Founded | 1986 |
| Founder | Bhavarlal Jain |
| Headquarters | Jalgaon, India |
Can Jain Irrigation emerge from this debt trap?
“We see Jain Irrigation as being caught in a debt trap, as working capital and interest payments have been eating into operating cash flows, leaving negligible amounts for debt repayments,” wrote Amit Murarka, an analyst with Deutsche Bank Research, after JISL announced quarterly results in May.
Will Jain Irrigation survive?
Some good news is expected in Jain Irrigation, resolution plan has been approved after discussion with the lenders and debt restructuring will happen in the company. Sustainable debt for the company will happen at 9% and unsustainable debt will happen at 0% for a period of 8 years.
Why did Jain Irrigation fall today?
Shares of Jain Irrigation, a farm machinery and equipment manufacturer, declined as much as 27 per cent on Tuesday after one of the rating agencies downgraded its long-term debt rating. Apart from high debt, seasonality of the business and government policies could be key risks for the company, said analysts.
Which state has highest drip irrigation in India?
The first place goes to Karnataka (8.16 lakh ha) followed by Andhra Pradesh (7.17 lakh ha) and Gujarat (7 lakh ha).
What are the 4 types of irrigation?
The different types of irrigation include- sprinkler irrigation, surface irrigation, drip irrigation, sub-irrigation and manual irrigation.
Is Jain Irrigation a good buy?
Based on the last year’s worth of payments, Jain Irrigation Systems stock has a trailing yield of around 5.2% on the current share price of ₹19.05. That’s why it’s good to see Jain Irrigation Systems paying out a modest 29% of its earnings.
Is Jain Irrigation in Nclt?
“We may consider to refer Jain Irrigation to the National Law Company Tribunal (NCLT), if it does not get resolved in the June quarter,” a senior banker told FE. Many lenders have already made provisioning of 15% in the December quarter as Jain Irrigation slipped to become a non-performing asset (NPA).
Should I hold Jain Irrigation share?
Based on the last year’s worth of payments, Jain Irrigation Systems stock has a trailing yield of around 5.2% on the current share price of ₹19.05. If you buy this business for its dividend, you should have an idea of whether Jain Irrigation Systems’s dividend is reliable and sustainable.
