Jain Irrigation System is eyeing to sell a 25-30 percent stake in its food processing business and the company is expecting to complete the sale by September this year. The company is also targeting capital expenditure of Rs 150 crore this year.
The company has reduced its overall debt by Rs 360 crore during the March quarter, and aims to reduce it by another Rs 300 crore this year. The company’s pipes business grew 30 percent last year, and the company expects growth to be in double digits - at least 20 percent - even if monsoon is below par.
Jain Irrigation Systems is a manufacturer of a wide variety of PVC pipes, PE pipes, water and gas transportation pipes, ducts for optical fibre cables and drip irrigation pipes. It is also engaged in tissue culture of bananas and pomegranates and is the world’s largest processor of mangoes and is the world’s second largest processor of onions and vegetables.
| Company Name | CMP |
|---|---|
| Supreme Industries | 3705.80 |
| Astral | 1612.85 |
| Finolex Inds | 174.70 |
| Nilkamal | 1320.05 |
| Jain Irrigation Sys | 33.05 |
| View more.. | |
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