Pune-based Jain Irrigation Systems hopes to maintain the first-half growth momentum and end the current fiscal with 20-25 per cent topline growth at over Rs 5,000 crore.
“We are looking at 20-25 per cent growth this fiscal. In the first half, our overall topline growth was 23 per cent. We hope to maintain the tempo and end the fiscal with 20-25 per cent growth,” Jain Irrigation Systems’ Managing Director, Mr Anil Jain, told PTI here.
The company had reported Rs 4,157 crore revenue last fiscal, and around 67 per cent of that came from the domestic market. The rest was mostly from Europe and the US.
The contribution from overseas markets might improve in the current fiscal as income from the US operations is set to grow given the double-digit growth in irrigation business, more than 20 per cent growth in food business and around 25 per cent growth in plastic business.
“However, revenue ratio between India and the overseas markets is likely to be 65:35. India is going to remain the major market for us,” he said.
Mr Jain said the company would foray into Africa and start marketing products across the baskets with emphasis on micro-irrigation and pipes.
Asked whether the company would look for inorganic route for expansion in Africa, he said there was always opportunity, but nothing is on the company’s radar, as of now.
Mr Jain said the company’s capital expenditure in the next fiscal would be around Rs 200 crore, almost half of the amount it spent in the current fiscal.
“We might go slow for one year in the next fiscal. It’s because, we were investing a lot for the last 2-3 years. So next year, we will go for lesser capex. It may be around Rs 200 crore,” he said.