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Jain Irrigation to sell its wind power business

11 Jul 2013 Evaluate

In a bid to trim its debt by Rs 63 crore, Jain Irrigation Systems is planning to sell its wind power business. In this regard, the company is in talks with a textile group for sale of its eight windmills of 1.65 megawatt each in Tamil Nadu. The company’s total debt stands at Rs 1,500 crore.

The company aims to sell its windmills by next month post shareholders' approval as the wind mill business contributed only 0.3 per cent to the overall revenue of the company in the 2012-13 fiscal.

The company manufactures drip and sprinkler irrigation systems, solar water heating systems and agro-processed products, among others.

 

Jain Irrigation Sys Share Price

33.05 -1.16 (-3.39%)
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Company Name CMP
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