NEW DELHI, Jan 27: Micro-irrigation solutions firm Jain Irrigation Systems expects a 35 per cent rise in turnover at Rs 5,000 crore in the current fiscal on the back of growth in solar water pump, food and tissue culture businesses.
The Jalgaon-based company had posted a turnover of about Rs 3,710 crore for the 2011-12 financial year.
“We expect our turnover in 2012-13 fiscal to touch around Rs 5,000 crore as our solar pump, food and tissue culture segments are delivering good returns and hold great potential for growth in the period ahead,” Jain Irrigation Systems Managing Director Anil Jain told.
The company feels that solar water pump business holds tremendous potential to drive revenue growth in the future and at the same time promotes its objective of sustainable progress, Jain added.
On the food business, Jain said: “We expect our turnover from this segment, globally to touch about Rs 1,100 crore in this fiscal.”
The company produces dehydrated onion and vegetable products and aseptic fruit purees, concentrates, clarified juices, IQF and frozen products at its Jalgaon facility. It grows varieties of banana, guava, mango, pomegranate, aonla, papaya and tomato puree at its farms and processes it in the plant.
On the future strategy, Jain said the company will continue to focus on micro-irrigation systems and food business.
“Our main focus will be on micro-irrigation and food, but at the same time we will also concentrate on other segments to achieve an all round growth,” he added.
The company is among the world’s largest micro-irrigation systems manufacturer and solutions provider. It manufactures drip and sprinkler irrigation systems, solar water heating systems and agro-processed products, among others. (PTI)
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