Jain Irrigation FY26 Revenue Rises 10.7% to ₹6,399.5 Cr
Jain Irrigation Systems reported its audited financial results for FY26, achieving a 10.7% year-on-year increase in consolidated total income to ₹6,399.5 crore. Consolidated EBITDA rose 12.8% to ₹808.9 crore with a margin of 12.6%, while adjusted PAT surged 36% to ₹133.1 crore. However, reported net loss after tax for the year stood at ₹40 crore against a profit of ₹25.7 crore in the prior year, attributed to non-cash items. For Q4 FY26, consolidated total income grew 4.3% to ₹1,824 crore, with EBITDA increasing 7.3% to ₹239.9 crore. Management highlighted strong cash generation and resilience despite global uncertainties, forecasting improved demand from infrastructure spending.
*this image is generated using AI for illustrative purposes only.
Jain Irrigation Systems reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. On a consolidated basis, total income for the full year grew 10.7% year-on-year to ₹6,399.5 crore from ₹5,779.3 crore, while standalone total income rose 8.4% to ₹3,533.3 crore from ₹3,259.0 crore. Consolidated EBITDA for the full year improved 12.8% to ₹808.9 crore, with the EBITDA margin expanding 24 basis points to 12.6%. The consolidated adjusted PAT — calculated before exceptional items, deferred tax re-measured impact, and unwinding of finance costs related to 0.01% NCDs/EBCs — surged 36.0% to ₹133.1 crore for the full year, compared to ₹97.8 crore in the prior year. The reported consolidated net loss after tax for the full year stood at ₹(40.0) crore, against a profit of ₹25.7 crore previously, reflecting non-cash items including the unwinding of deferred tax assets due to a shift to the new tax regime.
Quarterly Performance
For the quarter ended March 31, 2026, consolidated total income grew 4.3% year-on-year to ₹1,824.0 crore from ₹1,748.7 crore, while standalone total income declined 2.4% to ₹1,003.1 crore from ₹1,027.3 crore. Consolidated EBITDA for the quarter rose 7.3% to ₹239.9 crore, with the EBITDA margin improving 37 basis points to 13.2%. The consolidated adjusted PAT for the quarter grew 11.6% to ₹51.8 crore from ₹46.4 crore. The reported consolidated net loss after tax for the quarter was ₹(19.0) crore compared to a profit of ₹27.9 crore in the same quarter of the prior year. Standalone net profit after tax for the quarter stood at ₹11.3 crore against ₹28.3 crore previously.
The following table summarises the quarterly financial metrics (₹ in crore):
| Metric: | Consolidated Q4 FY26 | Consolidated Q4 FY25 | Change (%) | Standalone Q4 FY26 | Standalone Q4 FY25 | Change (%) |
|---|---|---|---|---|---|---|
| Total Income: | 1,824.0 | 1,748.7 | +4.3% | 1,003.1 | 1,027.3 | -2.4% |
| EBITDA: | 239.9 | 223.6 | +7.3% | 165.7 | 159.9 | +3.6% |
| EBITDA %: | 13.2% | 12.8% | +37 bps | 16.5% | 15.6% | +95 bps |
| Adjusted PAT: | 51.8 | 46.4 | +11.6% | 55.9 | 46.9 | +19.2% |
| Reported PAT: | (19.0) | 27.9 | -168.3% | 11.3 | 28.3 | -60.1% |
| Cash PAT: | 55.1 | 95.1 | -42.1% | 55.0 | 73.7 | -25.4% |
| Cash PAT %: | 3.0% | 5.4% | -242 bps | 5.5% | 7.2% | -169 bps |
Full-Year Financial Performance
The following table summarises the full-year financial metrics (₹ in crore):
| Metric: | Consolidated FY26 | Consolidated FY25 | Change (%) | Standalone FY26 | Standalone FY25 | Change (%) |
|---|---|---|---|---|---|---|
| Total Income: | 6,399.5 | 5,779.3 | +10.7% | 3,533.3 | 3,259.0 | +8.4% |
| EBITDA: | 808.9 | 716.8 | +12.8% | 532.5 | 471.0 | +13.1% |
| EBITDA %: | 12.6% | 12.4% | +24 bps | 15.1% | 14.5% | +62 bps |
| Adjusted PAT: | 133.1 | 97.8 | +36.0% | 152.6 | 96.9 | +57.5% |
| Reported PAT: | (40.0) | 25.7 | -255.7% | 24.0 | 24.7 | -2.8% |
| Cash PAT: | 241.9 | 278.8 | -13.3% | 191.8 | 183.7 | +4.4% |
| Cash PAT %: | 3.8% | 4.8% | -105 bps | 5.4% | 5.6% | -21 bps |
Management Commentary and Outlook
Commenting on the results, Mr. Anil Jain, Vice Chairman and Managing Director, noted that Q4 FY26 was marked by global uncertainties and a sharp rise in polymer prices in March following geopolitical developments. Despite these headwinds, the company delivered consolidated revenue growth of 4.3% year-on-year, led by strong performance in the Hi-Tech and Agro Processing segments, with cash generation of ₹233 crore in the quarter, representing approximately 97% of EBITDA. For the full year, focused working capital management enabled the company to generate operating cash flow of ₹619 crore, equivalent to 76% of EBITDA. The India Meteorological Department has forecasted below normal monsoon for 2026, and the company continues to monitor the evolving global environment for potential impacts on input costs and international trade flows. Management expects improved policy continuity and a revival of irrigation and infrastructure spending to support stronger demand, while remaining focused on revenue growth and improving collections from project receivables.
Historical Stock Returns for Jain Irrigation Systems
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.09% | -5.85% | -4.10% | -17.23% | -28.74% | +60.28% |
How might the forecasted below-normal monsoon for 2026 impact demand for Jain Irrigation's Hi-Tech drip and sprinkler irrigation products in FY27?
Can Jain Irrigation sustain its 20%+ Hi-Tech business growth trajectory in FY27 amid rising polymer prices and global trade uncertainties?
What is the timeline and strategy for recovering government project receivables, and which state governments represent the largest outstanding dues?
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