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Jain Irrigation Systems Q1 net up at Rs 55 cr

Jain Irrigation Systems on Friday said its net profit stood at Rs 55.59 crore for the first quarter ended June 2009, while it had a net profit of Rs 29.56 crore in the same period last year. Total income rose to Rs 573.03 crore in the latest quarter, against Rs 475.94 crore in the same quarter previous quarter. Shares of Jain Irrigation Systems were trading at Rs 698 on the BSE, up 1.57 per cent from previous close.

Company News

Jain Irrigation, through its multi generation subsidiary, acquires controlling stake in Thomas Machines S.A. of Switzerland (THE). Jain Irrigation Systems Ltd has acquired of 69.75% shareholding of Thomas Machines S.A. of Switzerland (THE) with full management and operational control. THE is a manufacturer of specialist machines and equipment, including drip irrigation lines, quality control and test equipment, automation equipment, laser machine centers and laser products. Acquisition to help JISL to further invest in the field of irrigation to build its capacities and increase speed to market for new generation drip lines including precision irrigation products THE holds valuable IPRs and cutting edge technology for its business in both irrigation and composite pipes business. JISL has additionally entered into Shareholders Agreement with holder of the 30.25% shares of THE, with call option which can be exercised over the next 3 years."

Great Stocks for 2008

Twenty stocks for 2008 (Business Standard 31st Dec 2007) Adlabs Films Bank of Baroda Bharat Bijlee Bharati Shipyard BHEL Bharti Airtel Blue Star Dishman Pharmaceuticals Educomp Solutions HDFC India Infoline Jain Irrigation Jindal Saw Larsen & Toubro Maruti Suzuki ONGC Patel Engineering Reliance Communications Reliance Industries State Bank of India More