Can we buy Jain Irrigation share?
You can easily buy Jain Irrigation shares in Groww by creating a demat account and getting the KYC documents verified online.
Why Jain Irrigation share is increasing?
Why Jain Irrigation Systems’ (NSE:JISLJALEQS) Earnings Are Weaker Than They Seem. In fact, Jain Irrigation Systems increased the number of shares on issue by 15% over the last twelve months by issuing new shares. Therefore, each share now receives a smaller portion of profit.
What went wrong with Jain Irrigation?
Rating firms had downgraded the company due to delay in servicing debt. Last year, S&P had downgraded it to ‘D’ (default grade) for missing interest payments due on February 1, 2020. Similarly, Care Ratings had downgraded Jain Irrigation to ‘D’ in 2019 due to a delay in servicing debt.
Why did Jain Irrigation fail?
The trouble for Jain Irrigation began after it reportedly failed to secure payments from the government despite executing irrigation projects based on government subsidies. The debt pile, liquidity issues and delay in servicing debt prompted rating firms to downgrade the company.
Will Jain Irrigation survive?
Some good news is expected in Jain Irrigation, resolution plan has been approved after discussion with the lenders and debt restructuring will happen in the company. Sustainable debt for the company will happen at 9% and unsustainable debt will happen at 0% for a period of 8 years.
Is Jain Irrigation debt free?
Jain Irrigation expects a debt resolution plan to be finalised soon. It has an order book of ₹4,300 crore. Revenue was down 37 per cent at ₹16,362 crore (₹25,831 crore). As of March end, the company’s consolidated gross debt was at ₹6,780 crore (₹5,099 crore) while net debt was at ₹6,532 crore (₹4,954 crore).
What is happening with Jain Irrigation?
Jain Irrigation stock hits upper circuit as net loss narrows in Q4. The plastic product company reported a net loss of Rs 22.25 crore in the quarter ended March 2021, as against a net loss of Rs 228.26 crore during the previous quarter ended March 2020.
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