To
The Members,
The Board of Directors are pleased to present its Report for the
financial year ended 31st March, 2026. During the year under review, the
Company delivered a steady operational and financial performance despite global economic
uncertainties, geopolitical developments and volatility in input costs towards last 2
months of FY 26. On a standalone basis, revenue increased by 8.4% to `3,533 crore and
EBITDA grew by 13.1% to `533 crore, reflecting improved operating efficiencies and the
continued strength of the Hi-Tech Agri business. The Company also generated healthy cash
flows and achieved a significant in working capital management.
On a consolidated basis, revenue increased by 10.7% to `6,400 crore and
EBITDA rose by 12.8% to `809 crore. The Hi-Tech Agri segment remained the principal growth
driver, recording revenue growth of 20.5% and EBITDA growth of 26.2% during the year. The
consolidated working capital cycle improved from 201 days to 186 days and the business
generated cash from operations of `619 crore. Further, the Company successfully completed
repayment of all standalone RTL and FITL obligations, reinforcing its commitment towards
financial discipline and balance sheet strengthening.
With a diversified business portfolio, a strong presence in domestic
and international markets and a healthy order pipeline, the Company remains focused on
sustainable growth, operational excellence and long-term value creation for all
stakeholders.
A] Operations
1) Financial Highlights (Standalone)
The FY26 financial performance is presented in the table below: ` in
Crore (except EPS) and strengthening its market
Particulars |
2025-26 |
2024-25 |
| Domestic & Export Sales (Net) |
3243.03 |
3,062.51 |
| Domestic & Export Services (Net) |
269.62 |
118 |
| Other Operating Income |
20.64 |
78.51 |
Sub Total |
3,533.29 |
3,259.02 |
| Other Income |
19.57 |
17.35 |
Total Income |
3,552.86 |
3,276.37 |
Operating Profit |
552.06 |
488.33 |
| Interest and Finance Charges |
296.27 |
291.69 |
| Depreciation and Amortisation |
167.81 |
159.01 |
| Profit before taxation and exceptional items |
87.98 |
37.64 |
| Exceptional Items |
(20.72) |
- |
Profit/(loss) before tax |
67.26 |
37.64 |
Particulars |
2025-26 |
2024-25 |
Provision for Tax |
|
|
| Current Tax Provision |
- |
- |
| Deferred Tax Asset/(Liability) |
43.23 |
12.92 |
| Profit/(Loss) for the year before |
24.03 |
24.71 |
| Prior Period Expenses |
|
|
| Prior Period Items-Income/ (Expenses) |
- |
- |
Profit/(Loss) for the year |
24.03 |
24.71 |
| Earnings per Share |
|
|
| Basic |
0.33 |
0.36 |
| Diluted |
0.33 |
0.35 |
2) State of affairs of the Company
a) Standalone: FY 26
Durin g FY 2025-26, the Company delivered a strong performance driven
by robust growth in its Hi-Tech Agri business, improved operational efficiencies and
continued focus on working capital management. Standalone revenue increased by 8.4% to
`3,533.3 Crore from `3,259.0 Crore in the previous year, while EBITDA grew by 13.1% to
`533 Crore from `471.0 Crore. EBITDA margin improved to 15.1% as compared to 14.5% in FY
2024-25.
The Hi-Tech Agri business continued to be the key growth driver for the
Company, registering revenue growth of 20.7% and EBITDA growth of 27.2% during the year.
The business benefited from healthy domestic demand, growth in exports and sustained
contribution from the Tissue Culture business. The EBITDA margin of the segment improved
to 18.7% from 17.8% in the previous year.
The Plastic Division reported revenue of `1,188.9 Crore as compared to
`1,316.7 Crore in FY 2024-25. While domestic demand remained subdued in certain market
segments, the Company continued to focus on operational efficiencies position.
The Company maintained a strong focus on liquidity, cash generation and
balance sheet strengthening during the year. Cash generated from operations stood at `350
Crore and the standalone working capital cycle improved from 282 days to 267 days.
Further, the Company successfully completed repayment of all due Restructured Term Loan
(RTL) and Funded Interest Term
Loan (FITL) obligations, marking a significant in its deleveraging
journey.
The standalone order book as on 31st March, 2026 stood at
`975 Crore, comprising `643 Crore for Hi-Tech Agri Input Products, `177 Crore for Plastic
Products and `155 Crore for Food/Agri business. The Company remains focused on profitable
growth, operational excellence, prudent capital allocation and sustainable value creation
for all stakeholders.
b) Consolidated: FY 26
Durin g FY 2025-26, the Company reported revenue of `6,399.5 Crore as
compared to `5,779.3 Crore in FY 2024-25, registering a growth of 10.7%. Consolidated
EBITDA increased by 12.8% to `808.9 Crore from `716.8 Crore, with EBITDA margin improving
to 12.6% from 12.4% in the previous year.
The Hi-Tech Agri business emerged as the principal growth driver,
achieving revenue growth of 20.5% and EBITDA growth of 26.2% despite global challenges,
including geopolitical uncertainties and tariff-related impacts. The India domestic
business recorded healthy growth of 29.3% during the year. The Plastic Division recorded
revenue growth of 2.4%, supported by strong performance of the overseas plastic business,
which registered growth of 13.5% during the year. The Agro Processing business also
delivered a healthy performance, with revenue increasing by 9.3% and EBITDA growing by
9.0%, supported by growth in international markets.
TheCompanycontinueditsdisciplinedapproachtowards working capital
management and cash flow generation. Consolidated cash generated from operations stood at
`619 Crore during FY 2025-26, while the working capital cycle improved significantly from
201 days to
186 days. These improvements reflect the Company's continued focus
on operational efficiency, prudent financial management and effective capital allocation.
The consolidated order book as on 31st March, 2026 stood at `1,735 Crore,
comprising `1,340 Crore for Hi-Tech Agri Input Products, `218 Crore for Food/ Agri
business and `177 Crore for Plastic Products.
Supported by a diversified business portfolio, strong market presence,
healthy order pipeline and continued focus on innovation and operational excellence, the
Company remains well positioned to capitalize on emerging growth opportunities and create
sustainable long-term value for its stakeholders.
3) Dividend
a) Dividend Distribution Policy
The Company has adopted the Dividend Distribution
Policy with respect to SEBI notification dated 8th July, 2016 and the
detailed policy is available on our website at -
https://www.jains.com/Company/investor/data/
Company%20Information/Policies/files/JISL_Dividend _Policy.pdf
b) Dividend for the Financial Year 2025–26
The Dir ectors in their meeting held on 15th May, did not recommend any
Dividend to the shareholders on Ordinary and DVR Equity Shares of `2.00 each, in view of
meagre profit for the year ended 31st March, 2026. Under Resolution Plan (2022
- 2028) Company is restricted from declaring Dividends anyway.
4) Capacity Expansion and Capital Expenditure
The Company has continued its pre-decided maintenance Capex. The
following table shows the Capex incurred for maintenance during the year.
Segment Name |
Net Capex FY 2026 |
|
( ` in Crore) |
| Hi-Tech |
94.74 |
| Plastics |
12.60 |
| HO and Others |
15.75 |
| Gross Capex |
123.09 |
| Less Assets (sale/ Discarded) |
(55.89) |
| Net Capex |
67.21 |
5) List of A wards/ Recognition – Financial Year 2025-26
The Company has received the following awards and accolades during the
FY 2025-26.
Year |
Name & Nature of Award / Recognition
/ Ranking/ Felicitation |
Sponsored by |
Instituted By |
Given By |
Citation |
Rank Level |
Received By |
Product / Individual |
| 2025 |
Star Performer Award - 2022-23 National
Award for Export Excellence - 55th National Award for 2022-23 Star Performance Exporter
Awards of EEPC India for the year 2022-23 (55th Edition) |
Ministry of Commerce & Industry, GoI |
EEPC India - (Engineering Export Promotion
Council of India) (Formerly Engineering Export Promotion Council) |
Ashish Shelar, Minister of Information
Technology and Cultural Affairs, Maharashtra Vimal Anand, Joint Secretary, Department of
Commerce, Ministry of Commerce and Industry. GoI (Middle) |
Export Excellence in the "Agriculture
Machinery & Parts– Large Enterprise category". |
N |
Abhedya Jain and Bipeen Valame |
Agriculture Machinery & Parts |
Year |
Name & Nature of Award / Recognition
/ Ranking/ Felicitation |
Sponsored by |
Instituted By |
Given By |
Citation |
Rank Level |
Received By |
Product / Individual |
| 2025 |
Star Performer Award - 2023-24 National
Award for Export Excellence - 56th National Award for 2023-24 Star Performance Exporter
Awards of EEPC India for the year 2023-24 (56th Edition) |
Ministry of Commerce & Industry, GoI |
EEPC India - (Engineering Export Promotion
Council of India) (Formerly Engineering Export Promotion Council) |
Piyush Goyal, Hon'ble Minister of
Commerce and Industry, Government of India |
Unwavering commitment to innovation,
superior quality, and sustainable solutions in water engineering technology. |
N |
Anil Jain & Athang Jain |
Agriculture Machinery & Parts |
| 2025 |
Vivekananda International Relations Peace
Award 2025-2026 |
- |
Chakra Vision India Foundation, Mumbai |
Senior Indian Army officer Lieutenant
General Arun Ananthanarayanan, famous _lm actor Jackie Shroff, Padma Shri Dr. G. D. Yadav,
Ravi Iyer |
Individuals who have made remarkable
contributions in the fields of agriculture, science and technology, sustainable
development, economic contribution to the nation's development, and humanitarian
work, crossing national borders for global welfare and progress |
N |
Ashok Jain |
General |
| 2025 |
Smart Banana Farm-Tech Promotion Award |
- |
ICAR–National Research Centre for
Banana (NRCB), Tiruchirappalli, Tamil Nadu |
Dr. R. Selvarajan, Principal Scientist and
Director (ICAR- National Research Centre for Banana (NRCB)) and Dr. Tusar Kanti Behera,
Director, ICAR- Indian Institute of Horticultural Research, Bengaluru. |
Jain Irrigations outstanding and pioneering
contributions to banana cultivation in India and across international markets. Over the
decades, the company has created a silent green revolution in banana farming by
introducing a transformative blend of high- quality tissue culture banana plants, advanced
drip irrigation and fertigation technologies, and digital agriculture tools. |
N |
K.B. Patil & Anil B. Patil |
Tissue Culture Banana |
| 2025 |
State Export Excellence Gold Award for
2022-23 |
- |
Directorate of Industries, Government of
Maharashtra |
Uday Samant, Minister of Industries,
Government of Maharashtra |
Plastic Products, Micro-Irrigation Systems,
PVC & HDPE Pipes, Moulded Articles, and various Sheets (Large-Scale Enterprise) 2022-
23 |
S |
Atul B. Jain |
Plastic Products |
Year
Year |
Name & Nature of Award / Recognition
/ Ranking/ Felicitation |
Sponsored by |
Instituted By |
Given By |
Citation |
Rank Level |
Received By |
Product / Individual |
| 2025 |
State Export Excellence Gold Award for
2023-24 |
- |
Directorate of Industries, Government of
Maharashtra |
Uday Samant, Minister of Industries,
Government of Maharashtra |
Large-Scale Enterprise in the Plastic
Products Sector and as a 100% Export- Oriented Unit (EOU) in Foam Sheet Manufacturing
2023-2024. |
S |
Abhedya Jain & Amoli Jain- Sanghvi |
Plastic Products |
| 2025 |
TOI Ecopreneur Honours 2025 for Biodiversity
& Water Conservation Leadership |
- |
The Times of India Group |
Rajib Chakraborty, National President, SFIA. |
Its long-standing leadership in sustainable
agriculture, biodiversity conservation, and climate- resilient water management. |
N |
Athang Jain |
CSR |
| 2025 |
PLEXCONCIL Award 2023-2024 |
Ministry of Commerce and Industry,
Government of India |
-PLEXCONCIL |
Piyush Goyal, Minister of Commerce and
Industry, Minister of Textiles and Minister of Consumer Affairs, Food and Public
Distribution. |
Top Exporter Drip Irrigation Systems (1st
Prize, 2023- 2024) |
N |
Anil Jain |
Drip |
| 2025 |
PLEXCONCIL Award 2024-2025 |
Ministry of Commerce and Industry,
Government of India |
PLEXCONCIL |
Piyush Goyal, Minister of Commerce and
Industry, Minister of Textiles and Minister of Consumer Affairs, Food and Public
Distribution. |
Top Exporter Drip Irrigation Systems (1st
Prize, 2024- 2025) |
N |
Dr. Anil Patil |
Drip |
| 2025 |
PLEXCONCIL Award 2023-2024 |
Ministry of Commerce and Industry,
Government of India |
PLEXCONCIL |
Piyush Goyal, Minister of Commerce and
Industry, Minister of Textiles and Minister of Consumer Affairs, Food and Public
Distribution. |
Top Exporter Fittings for Pipes & Hoses
(of Plastics) (2nd Prize, 2023- 2024) |
N |
V. M. Bhat |
Fittings & Hoses |
| 2025 |
PLEXCONCIL Award 2023-2024 |
Ministry of Commerce and Industry,
Government of India |
PLEXCONCIL |
Piyush Goyal, Minister of Commerce and
Industry, Minister of Textiles and Minister of Consumer Affairs, Food and Public
Distribution. |
Top Exporter Fittings for Pipes & Hoses
(of Plastics) (2nd Prize, 2024- 2025) |
N |
Dr. Balkrishna Yadav |
Fittings & Hoses |
| 2025 |
PLEXCONCIL Award 2023-2024 |
Ministry of Commerce and Industry,
Government of India |
PLEXCONCIL |
Piyush Goyal, Minister of Commerce and
Industry, Minister of Textiles and Minister of Consumer Affairs, Food and Public
Distribution. |
Top Exporter Pipes & Hoses of Plastics
(1st Prize, 2023- 2024) |
N |
Rajendra Mahajan |
Pipes & Hoses |
Year
Year |
Name & Nature of Award / Recognition
/ Ranking/ Felicitation |
Sponsored by |
Instituted By |
Given By |
Citation |
Rank Level |
Received By |
Product / Individual |
| 2025 |
PLEXCONCIL Award 2024-2025 |
Ministry of Commerce and Industry,
Government of India |
PLEXCONCIL |
Piyush Goyal, Minister of Commerce and
Industry, Minister of Textiles and Minister of Consumer Affairs, Food and Public
Distribution. |
Top Exporter Pipes & Hoses of Plastics
(2nd Prize, 2024- 2025) |
N |
S. N. Patil |
Pipes & Hoses |
| 2025 |
PLEXCONCIL Award 2023-2024 |
Ministry of Commerce and Industry,
Government of India |
PLEXCONCIL |
Piyush Goyal, Minister of Commerce and
Industry, Minister of Textiles and Minister of Consumer Affairs, Food and Public
Distribution. |
Top Exporter PVC Foam Sheet (1st
Prize, 2023- 2024) |
N |
K. B. Sonar |
PVC Foam Sheet |
| 2025 |
PLEXCONCIL Award 2024-2025 |
Ministry of Commerce and Industry,
Government of India |
PLEXCONCIL |
Piyush Goyal, Minister of Commerce and
Industry, Minister of Textiles and Minister of Consumer Affairs, Food and Public
Distribution. |
Top Exporter PVC Foam Sheet (1st
Prize, 2024- 2025) |
N |
Suchita Keravant & Deepa Shivde |
PVC Foam Sheet |
6) Material developments in Human Resource
Our organization embarked on a major modernization this fiscal year to
establish a standardized, completely objective, and "faceless" HR environment
that ensures equitable policy execution across all operating centers. By transitioning our
backend architecture away from our legacy, FoxPro-based setup to a centralized, web-based
platform, we have unified our diverse geographical hubs under a single, transparent
digital matrix. This strategic upgrade completely streamlines our administrative
workflows, eliminates subjective local interpretations, and enhances operational clarity.
Ultimately, by simplifying routine data management, we empower our Associates to direct
their focus outward, allowing them to look beyond basic administrative tasks and act as
true stewards of our core mission: to leave this world better than we found it.
Driving Operational Modernization: The Core System Rollout teams.
Previously
The foundational phase of this digital transformation focused on
deploying two critical modules in December to bring immediate transparency directly to our
workforce:
Workforce Management: This module unifies the complete professional
lifecycle—from initial talent acquisition and onboarding to internal
transitions—into a single, secure digital profile, eliminating legacy paperwork and
tracking friction.
Time Office Integration: Attendance tracking and leave
administration have transitioned into an objective, real-time ecosystem. By digitizing
shift structures, holiday calendars, and leave request approvals, the system provides an
unalterable record of time-office data
Following the December-2025 launch, the period from December-2025 to
March-2026 was dedicated to an intensive, hands-on onboarding initiative. Associates
across all operating centers were granted system access and trained to manage their
profiles, log daily attendance, request time off, and record "away from work"
instances directly through the platform. Perfecting this user-familiarity phase was our
highest priority, as precise attendance records provide the essential, basic input data
required for our upcoming payroll workflows.
Empowering Field Operations and Expanding Inclusivity
A standout success of this mobile-first deployment has vulnerable
beenits impact on our field to feeling distant from central corporate HR touchpoints, our
field-based Associates now possess a seamless, real-time link to the organization.
Regardless of their physical deployment site, they can independently log attendance, track
leave balances, and stay synchronized with organizational workflows from anywhere at any
time.
Cultivating Connection, Well-being, and Family Support
W e continued to nurture a vibrant workplace community by balancing
rigorous operational metrics with cultural enrichment and dedicated welfare support:
Cultural Celebrations
Major traditional festivals were celebrated collectively across all
operating hubs, serving as vital touchpoints to nurture shared joy, break down structural
barriers, and build deep camaraderie: Makar Sankranti: The traditional exchange of
festive sweets during this harvest festival softens workplace hierarchies, encouraging
warm, peer-to-peer conversations and establishing a foundation of mutual goodwill across
diverse teams.
Pola: By honoring our deep-rooted agricultural traditions, this
celebration strengthens the emotional connection between our Associates and our core
environmental purpose, instilling a shared sense of pride in our collective hard work.
Janmashtami: The celebration of mindfulness and new beginnings
inspires a shared sense of optimism and renewal, encouraging Associates to reflect on
personal growth and align their inner values with our broader mission.
Diwali: Collaborative workspace decoration drives and community
lighting initiatives ignite a vibrant team spirit, uniting our workforce through shared
creativity and a celebration of collective success and prosperity.
Holi: The cheerful, color-filled interactions act as a natural
equalizer across the organization, effortlessly dismantling departmental silos and
reinforcing a highly approachable, unified workplace fabric
Health & Wellness Awareness
The Peace Walk Drive: Standing as a unique signature initiative
that sets our organization apart, this highly distinctive drive brought our workforce
together for a purpose beyond business, promoting holistic well-being, mindfulness, and a
positive outlook. Reflecting our deep-rooted conviction that true corporate citizenship
begins with societal harmony, our Associates stepped out in unison to champion collective
mindfulness, peaceful co-existence, and mutual respect. This walk served as a powerful,
living demonstration of our values, allowing our team to directly connect with neighboring
communities and actively plant the seeds of unity, shared progress, and goodwill.
Intern ational YogaThisDay: dedicated wellness initiative
brought our workforce together to practice physical and mental alignment, emphasizing our
commitment to holistic health, stress reduction, and mindful living both at work and at
home.
T argeted Wellness Campaigns: We prioritized the holistic
well-being of our team by conducting extensive awareness campaigns focusing on critical
areas such as Road Safety and De-addiction.
Educational Assistance
Demonstrating our deep commitment to the families of our team, our
academic support initiatives equipped 31 deserving children of our Associates with laptops
to support their higher educational pursuits.
Community Outreach and Civic Citizenship
Our civic responsibilities remain deeply embedded in our regional
operations. This year, our manufacturing hubs—spanning our Plastic and Agri Parks in
Jalgaon, Food Parks in Chittoor, and specialized facilities in Hyderabad, Alwar, and
Udumalpet—regularly hosted voluntary blood donation drives, contributing a collective
764 units of blood to local healthcare repositories. Furthermore, our manufacturing
facilities actively extended critical emergency resources, such as fire engines and
ambulances, to assist neighboring communities during road mishaps and local emergencies.
Continuous Learning, Capacity Building, and Leadership Pipelines
Refining professional capabilities and sharpening technical
competencies is treated as an ongoing, uninterrupted journey across every operating
location of our enterprise. To ensure our workforce remains highly adaptive and resilient,
we design and execute comprehensive training programs that run continuously throughout the
year: Leade rship Development: Beyond routine technical and functional upskilling
detailed in our location-specific training matrices, we initiated an exclusive
Leadership Development track this year. Facilitated by premier external
experts, this ongoing series is explicitly designed to cultivate, prepare, and empower a
select cohort of high-potential Associates for future strategic responsibilities.
Gamified Experiential Learning: Demonstrating that competency
building can also be engaging and interactive, we introduced the Auction Arena simulation
to enhance negotiation and strategic skills. This program saw 15 teams covering 175
Associates compete under distinct operational constraints to bid for 25 unique culinary
categories, effectively blending tactical learning with team synergy.
T alent Acquisition and Workforce Growth
T o support our rapid organizational expansion, our recruitment
framework continuously seeks out high-potential talent through structured channels and
agile walk-in drives. Selection criteria remain rigorously centered on objective merit,
long-term capability, and alignment with our organizational culture. Following the gross
addition of 907 talented individuals during the
2025-26 fiscal period, our total active Associate strength stood at
7479 as of March 31, 2026.
B] Subsidiaries & Associate
1) Jain Farm Fresh Foods Limited - Subsidiary
a) Standalone
The Company recorded revenue from operations of `661.18 crore in FY
2026 as compared to `659.09 crore in FY 2025, reflecting a marginal growth of 0.3% YoY.
Other income stood at `1.27 crore in FY 2026 as against `2.06 crore in FY 2025.
Consequently, the Company's total income increased to `662.45 crore in FY 2026 from
`661.15 crore in FY 2025.
The Company delivered a strong improvement in operating performance
during the year. EBITDA stood at `133.25 crore in FY 2026 as compared to `82.63 crore in
FY 2025, supported by improved export realisations, better product mix, and operational
efficiencies Profit before tax (before exceptional items) stood at
`12.43 crore in FY 2026 as compared to a loss of `19.73 operational
crore in FY 2025, indicating a significant of turnaround. After considering exceptional
expense of
`3.24 crore, profit before tax stood at`9.19 crore in FY 2026. The
Company reported a net loss of `2.66 crore in FY 2026, as against a net loss of `13.73
crore in FY 2025, reflecting improved bottom-line performance.
Finance costs increased to `75.67 crore in FY 2026 from `63.24 crore in
FY 2025, mainly due to higher working capital utilisation. Depreciation and amortisation
expense increased to `45.15 crore from `39.12 crore, reflecting continued capital
investment in plant and infrastructure. b) Consolidated
The consolidated food business of the group revenues of `2,063.47 crore
in FY 2026 as compared to `1,887.68 crore in FY 2025, reflecting a healthy growth of 9.3%
YoY, driven by strong export performance, improved demand conditions, and expanded scale
of operations across markets. EBITDA stood at `185.63 crore in FY 2026 as compared to
`174.67 crore in FY 2025, reflecting steady operating performance supported by higher
scale of operations and improved business mix. Finance cost for the year was `148.11
crore, higher than `130.85 crore in the previous year, reflecting increased working
capital requirements and borrowing costs to support business expansion. The Group reported
a loss before tax from continuing operations of `70.70 crore in FY 2026 as compared to a
loss of `33.41 crore in FY 2025, primarily impacted by higher finance costs, increased
operating scale-related expenses, and exceptional items of `19.70 crore during the year.
Net loss stood at `86.39 crore in FY 2026 as against `24.26 crore in FY 2025. during the
While profitability year, the underlying business fundamentals remain stable, supported by
strong revenue growth, sustained export momentum, and improved scale efficiencies across
operations. With continued focus on export-led growth, operational optimisation, and
capacity expansion, the Group is well positioned for sustainable long-term value creation.
2) Jain Pr ocessed Foods Trading and Investment Private Limited
("JPFTIPL") - Subsidiary
JPF TIPL is 100% owned by JISL. The main business of the Company is
trading and dealing in food stuff and food products of every description and to carry on
the business of a holding and an investment Company.
Revenue from operations of the Company stood at Nil in FY 2025-26 as
against `0.075 crore in FY 2024-25, as the Company did not undertake any trading sales
during the year and focused entirely on its investment and lending activities. Other
income, comprising interest on loans and deposits, stood at `0.324 crore in FY 2025-26 as
against `0.299 crore in FY 2024-25, reflecting higher interest accrued on loans
extended to related parties.
Profit before tax stood at`0.023 crore in FY 2025-26 as against `0.025
crore in FY 2024-25. The Company recorded a net profit `0.018 crore in FY 2025-26, broadly
in line with the net profit of `0.018 crore in FY 2024-25.
3) Sustainable Agro-Commercial Finance Limited (SAFL) – Associate
Susta inable Agro-Commercial Finance Limited (SAFL), an Associate
Company of the Jain Irrigation Systems
Limited, continues to focus on providing financing solutions to the
agriculture sector, serving farmers across rural and semi-urban regions. The Company has
an operational presence in the states of Maharashtra,
Karnataka and Madhya Pradesh. During the financial year 2025–26,
SAFL recorded revenue from operations of `1.66 crore, as compared to `24.05 crore in the
previous financial year. Other income increased to
`5.75 crore from `1.80 crore in FY 2024–25. Employee benefit
expenses stood at `8.18 crore as against `8.56 crore in the previous year, while finance
costs reduced significantly to `0.59 crore from `1.84 crore.
The financial performance during the year was impacted primarily due to
higher impairment provisions on financial instruments amounting to `9.42 crore and
recognition of an exceptional expense of `0.88 crore arising on account of the
implementation of the new Labour Codes. Accordingly, SAFL reported a net loss of
`15.41 crore for FY 2025 26, as against a net profit of
`3.84 crore in FY 2024–25.
4) Operations of Subsidiaries & SPV's
The Statement containing the salient features of the financial
statements of the overseas subsidiary companies, in the prescribed Form AOC-1, forms part
of this Annual Report as Annexure II – Part A(b).
The operational performance of the Company's operating
subsidiaries and Special Purpose Vehicles (SPVs) is discussed in the Management Discussion
and Analysis section forming part of this Annual Report as Annexure V.
C] Credit Ratings:
Durin g the year the Credit Rating agency, CRISIL rated the Company as
follows:
Rating Action by CRISIL:
| Total Bank Loan Facilities Rated |
` 2,930 Crore |
| Long Term Rating |
CRISIL BBB-/Negative (Outlook revised from
‘Stable'; Rating Reaffirmed) |
| Short Term Rating |
CRISIL A3 (Reaffirmed) |
| ` 785.63 Crore Non - convertible
Debentures |
CRISIL BBB-/ Negative (Outlook revised
from ‘Stable'; Rating Reaffirmed) |
Subse quent to the close of the financial year, the credit rating
assigned by ICRA Limited to the Company's Non-Convertible
Debentures aggregating `787.24 crore was withdrawn at the request of
the Company, in accordance with ICRA's policy on withdrawal of ratings, after receipt
of the requisite No Objection Certificates (NOCs) from the lenders. The Company continues
to have a valid credit rating from CRISIL Ratings Limited for its debt facilities and
remains regular in servicing its debt obligations.
D] Warrant Conversion Details:
The Company completed the conversion of all 4,27,86,430 Equity Share
Warrants into Equity Shares during the year under review, in accordance with the terms of
the preferential issue. The details of the conversions are as under:
Name of Allottee |
No. of Warrants |
No. of Shares |
Conversion Price |
Date of Conversion |
| Stocks & Securities (I) Pvt. Ltd. |
1,63,21,607 |
1,63,21,607 |
46.64 |
22nd May, 2025 |
| Alpha Alternatives Structured Credit
Opportunities Fund |
1,41,14,572 |
1,41,14,572 |
46.64 |
|
| Pinkstone Ventures LLP |
70,57,286 |
70,57,286 |
46.64 |
19th May, 2025 |
| Tritiya Ventures LLP |
52,92,965 |
52,92,965 |
46.64 |
|
Total |
4,27,86,430 |
4,27,86,430 |
46.64 |
- |
All W arrants are now converted. The proceeds from the preferential
issue were utilized in accordance with the approved objects of the issue. The 25% proceeds
received as a deposit against Equity Share Warrants were utilized for repayment of
inter-corporate deposits to its associate, Sustainable Agro Commercial Finance Limited
(SAFL), an NBFC, enabling SAFL to become debt-free, mitigating the risk of cross-default,
and facilitating the release of the Corporate Guarantee provided by the Company. Further,
the balance 75% proceeds received upon allotment were utilized to meet funding
requirements, strengthen the Company's capital base, address short- and medium-term
obligations, and support its long-term working capital requirements.
E] Governance disclosures
1) Employee Stock Option Plan (ESOP) i) JISL Employees ESOP's
Trust (Trust Route, 2018):
The Company had established the JISL Employees ESOP Trust in 2018 for
the implementation and administration of the Employee Stock Option Scheme through
acquisition of Equity Shares from the secondary market. All the Trustees of the Trust are
independent of the Management.
During the year under review, no Equity Shares were transferred by the
Trust to the eligible Employees. As on 31st March, 2026, 3,94,044 Equity Shares
held by the Trust remained available for exercise by the eligible employees under the
Scheme. These Equity Shares were acquired by the Trust during FY 2019-20 and FY 2020-21.
Details related to the Trust General Information:
Particulars |
Details |
| Name of the Trust |
JISL Employees ESOP's Trust |
| Details of the Trustee(s) |
1) IDBI Trusteeship Services Limited |
|
2) Mr. Aaron Solomon, Solicitor |
|
3) Ms. Snehal Walvalkar, FCA* |
|
4) Mr. Jayant M Thakur, CA** |
|
5) Mr. Sanjay T Tupe*** |
| Amount of loan disbursed by Company / any
Company in the group, during the year |
NIL |
| Amount of loan outstanding (repayable to
Company / any Company in the group) as at the end of the year |
` 1,39,56,040 |
| Amount of loan, if any, taken from any other
source for which Company / any Company in the group has provided any security or guarantee |
NIL |
| Any other contribution made to the Trust
during the year |
NIL |
Any other contribution made to the Trust during the year NIL
* Resigned on 10.02.2025 ** Deceased on 24.07.2024 ***Appointed w.e.f.
10.02.2025
Trust Shares movement during the year |
|
Particulars |
ESOP 2018 |
| Number of Shares outstanding at the beginning
of the period |
3,94,044 |
| Number of Shares granted during the FY 2026 |
NIL |
| Number of Shares forfeited / lapsed during
the FY 2026 |
NIL |
| Number of Shares vested during the FY 2026 |
NIL |
| Number of Shares exercised during the FY 2026 |
NIL |
| Number of shares arising as a result of
exercise of options |
NIL |
| Money realized by exercise of Shares (`), if
scheme is implemented directly by Company |
NIL |
| Loan repaid by the Trust during the year from
exercise price Received |
NIL |
| Number of Shares outstanding at the end of
the year |
3,94,044 |
| Number of Shares exercisable at the end of
the year |
3,94,044 |
ii) JISL ESOP, 2011 (Primary Route)
The Company continues to administer the JISL ESOP, 2011/18 in
accordance with the provisions of the Companies
Act, 2013 and the SEBI (Share Based Employee Benefits and Sweat Equity)
Regulations, 2021.
During the year under review, no stock options were granted, vested,
exercised, cancelled or lapsed and, consequently, no Equity Shares were allotted under the
Scheme.
Sr. Particulars |
JISL ESOP, 2011/2018 |
| 1) Date(s) of Shareholders' Approval |
30th September, 2011, 27th
September, 2013 & 28th September, 2018 |
| 2) Total number of options approved under the
Scheme |
53,56,000 |
| 3) Total number of options granted |
43,56,000 (Granted on 11th
November, 2022) |
| 4) Options outstanding as on 31st March, 2026 |
Nil |
| 5) Options available for future grant |
10,00,000 (Reserved for eligible foreign
employees) |
| 6) Options granted during FY 2025-26 |
Nil |
| 7) Options vested during FY 2025-26 |
Nil |
| 8) Options exercised during FY 2025-26 |
Nil |
| 9) Equity Shares allotted during FY 2025-26 |
Nil |
| 10) Exercise Price |
` 32.40 per option |
| 11) Maximum term of options |
5 Years |
| 12) Source of Shares |
Primary |
| 13) Variation in terms of options |
Nil |
The disclosures as required under Rule 12(9) of the Companies (Share
Capital and Debentures) Rules, 2014 read with Regulation 14 and Part F of Schedule I of
the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations,2021 are available
on the Company's website at https://www.jains.com/Company/investor/index.php
2) Sustainability & Corporate Social Responsibility brief
ESG and Sustainability Disclosures
Jain Irrigation Systems Ltd. reports its Environmental, Social, and
Governance (ESG) performance through mandatory and voluntary platforms, including the
Business Responsibility and Sustainability Report (BRSR). Our ESG disclosures align with
the International Finance Corporation's (IFC) Performance Standards I to IV. We have
set an annual target to reduce specific energy consumption by 5% at the department level
on our manufacturing shop floors, as part of our ISO 50001:2018-certified Energy
Management System (EnMS). Additionally, we are actively mapping our internal energy
management targets to the Science Based Targets initiative (SBTi) methodology to set
long-term climate goals. To track sustainability performance, we use a system based on
economic, environmental, and social indicators tied to key material topics
identifiedthrough detailed stakeholder consultations, following international standards
like the Global Reporting Initiative (GRI) and Carbon Disclosure Project (CDP). We conduct
sustainability data assurance every two based on ISAE 3000 and AA1000AS
years,withindependentthird-partyverification standards. Assurance certificates are
available to stakeholders upon request. In addition to the BRSR, we plan to resume
publishing a comprehensive Sustainability Report following GRI Standards for FY 25 to
further strengthen our sustainability and ESG disclosures. For more details, visit
https://www.jains.com/Company/sustainablefiat_jains.htm
Climate Change Management System – Carbon Emission Reduction
Projects
The Company is deeply committed to mitigating environmental impacts of
climate change and has taken several pioneering steps in this direction. Over a decade
ago, the Company became the first in its sector to conduct a comprehensive Greenhouse Gas
(GHG) inventory in accordance with ISO 14064-1:2018, verified by an independent third
party.
Currently, the Company accounts for and reports complete Scope 1 and
Scope 2 emissions, along with mitigation actions such as renewable energy deployment and
carbon sequestration through afforestation. From FY25 onwards, the Company's GHG
inventory will include an expanded and more detailed accounting of Scope 3 emissions.
For the third consecutive year, the Company will voluntarily disclose
its climate action performance through the Carbon Disclosure Project (CDP). We have
implemented and registered renewable energy and energy efficiency projects to generate
green energy and reduce carbon emissions. Several of these projects are registered under
the United Nations Framework Convention on Climate Change (UNFCCC) Clean Development
Mechanism (CDM), with the potential to generate over 25,000 carbon credits annually. Our
solar and biogas-based power generation projects are also registered under the Renewable
Energy Certificate
(REC) Scheme. As part of its forward-looking strategy, the Company is
now in the process of commissioning a biomass residue-based carbon emission reduction
project—the one of its kind. This project will process over 13,000 metric tons of
agricultural residues annually into carbon-rich media, which can be incorporated into soil
through various regenerative agriculture applications.
Corporate Social Responsibility
The Company operates with a well-defined comprehensive Corporate Social
Responsibility (CSR) policy, outlining specific programs and initiatives aimed at
inclusive and sustainable development. This policy is reviewed annually under the
supervision of the CSR Committee.
CSR activities are implemented both directly by the Company and through
two associated entities - registered Section-8 Companies: Bha varlal and Kantabai Jain
Multipurpose (BKJMF), Jalgaon Gand hi Research Foundation (GRF), Jalgaon In addition to
projects undertaken via these trusts, the Company continues to implement CSR initiatives
independently to maximize reach and impact. The CSR policy of Jain Irrigation Systems Ltd.
is publicly accessible at: https://www.jains.com/Company/
investor/data/Company%20Information/Policies/files/
JISL_Corporate_Social_Responsibility_Policy.pdf
The detailed CSR Report is attached as Annexure III to the Board
Report.
3) Key Managerial Personnel, Directors retiringthe and their
background a) Key Managerial Personnel
Sr. Name of KMP's Designation
Sr. Name of KMP's |
Designation |
| 1) Shri. Ashok B. Jain |
Whole Time Director |
| 2) Shri. Anil B. Jain |
Vice Chairman & Managing Director |
| 3) Shri. Ajit B. Jain |
Joint Managing Director |
| 4) Shri. Atul B. Jain |
Joint Managing Director |
| 5) Shri. Bipeen Valame |
Chief Financial Officer |
| 6) Shri. Avdhut Vasant Ghodgaonkar |
Company Secretary & Chief Compliance
Officer |
b) Retir ement by Rotation
Mr . Ajit B. Jain (DIN: 00053299)
In accordance with the provisions of the Companies Act, 2013, Mr. Ajit
B. Jain (DIN: 00053299) retires by rotation at the ensuing 39th Annual General
Meeting and, being eligible, offers himself for re-appointment. The Board of Directors,
based on the recommendation of the Nomination and Remuneration Committee, recommends his
re-appointment.
Brief particulars of Mr. Ajit B. Jain, as required under Secretarial
Standard-2 on General Meetings and other applicable provisions, are provided in Annexure-I
to the Notice convening the 39th Annual General Meeting.
C) Resignation of Nominee Director Mr. Aroop Sircar (DIN: 05309663)
Mr . Aroop Sircar, Nominee Director appointed by State Bank of India,
representing the lenders resigned from the Board of Directors of the Company upon
completion of his tenure of three years as Nominee Director. Accordingly, he ceased to be
a Director of and the Company with effect from April 25, 2026.
The Board places on record its deep appreciation for the valuable
guidance, support and contributions made by Mr. Aroop Sircar during his tenure on the
Board. The Directors acknowledge his constructive participation in the affairs of the
Company and extend their best wishes for his future endeavours. d) Disclosures on
Independence
The Company has received necessary declarations from all the
Independent Directors confirming that: a) they meet the criteria of independence as
prescribed under the provisions of the Companies Act, 2013 and the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015; and b) their names have been
included in the Independent Directors' Databank maintained by the Indian Institute of
Corporate Affairs (IICA).
In the opinion of the Board, all the Independent Directors possess the
requisite integrity, expertise and experience and fulfil the conditions specified under
the Companies Act, 2013 and the Listing Regulations for being appointed as Independent
Directors of the Company.
The Company has adopted various policies and frameworks in accordance
with the applicable provisions of the Companies Act, 2013 and the Listing Regulations,
including:
1) Policy on Terms and Conditions of Appointment of Independent
Directors; and Nomination, Remuneration and Board Diversity Policy.
2) The aforesaid policies are available on the website of the Company.
4) Director's Responsibility Statement
Pursu ant to Section 134(5) of the Companies Act, your Directors state
that: i) in the preparation of the annual accounts for the financial year ended March 31,
2026, the applicable
Indian Accounting Standards (Ind AS) have been followed and there are
no material departures from the same except to the extent, if any, disclosed in the notes
to the financial statements; ii) they have selected such accounting policies and applied
them consistently, and made judgments and estimates that are reasonable and prudent so as
to give a true and fair view of the state of affairs of the
Company as at March 31, 2026 and of the profit/loss of the Company for
the financial year ended on that date; iii) they have taken proper and sufficient care for
the maintenance of adequate accounting records in accordance with the provisions of the
Companies Act, 2013 for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities; iv) they have prepared the annual accounts on a
going concern basis; v) they have laid down internal financial controls to be followed by
the Company and that such internal financial controls are adequate and were operating
effectively; and vi) they have devised proper systems to ensure compliance with the
provisions of all applicable laws and such systems were adequate and operating
effectively.
5) Risk Management
The Company operates under a comprehensive dynamic Risk Assessment
& Management framework designed to proactively identify, monitor, and mitigate risk in
a globalized business landscape. Governance of this systematic approach is overseen by a
structured Risk Management Committee, chaired by Mr. Johannes Bastian Mohrmann, alongside
committee members Mr. Shishir Dalal, Mr. Ajit Jain, and Mr. Atul Jain.
To ensure risk management extends beyond a static checklist, the
Committee:
1) Utilizes a dynamic framework designed to proactively detect,
evaluate, and mitigate risk phenomena across all facets of the business. This includes
dedicated oversight of critical and carefully established risk categories spanning
Operations, Legal & Compliance, Technology, Cyber Security, Government Policy
Frameworks, and Global Disruptions.
2) Focuses on the interconnected impact of risk on business continuity.
Through regular reviews of the framework the Committee ensures that risk management is
seamlessly integrated into our long-term strategic planning.
This rigorous governance structure enables the Company to maintain
organizational resilience, safeguard stakeholder value, and rapidly adapt to 2013,
macroeconomic shifts. Detailed analyses of specific risk factors, their potential impacts,
and corresponding mitigation strategies are fully elaborated in the Management Discussion
and Analysis (MD&A).
6) Inter nal Financial Controls (IFC) and Their Adequacy:
The Company has established a robust Internal Financial Controls
("IFC") framework commensurate with the size, scale and complexity of its
operations. The framework is embedded within the Company's governance processes and
business operations and is designed to provide reasonable assurance regarding the orderly
and efficient conduct of business, safeguarding of assets, prevention and detection of
frauds and errors, accuracy and completeness of accounting records, and timely preparation
of reliable financial information.
The control environment is supported by documented policies, standard
operating procedures, a well-defined delegation of authority framework, enterprise-wide
risk management practices and system-driven controls embedded within the Company's
ERP platform. These controls are periodically reviewed and strengthened to address
evolving business, regulatory and sustainability-related risks.
The Company follows a risk-based internal audit approach through an
independent external audit firm appointed by the Audit Committee. Internal audit
observations, management action plans and remediation status are reviewed periodically by
the Audit Committee, which provides oversight on the adequacy and effectiveness of the
internal control environment. and The Company continues to enhance its controls through
increased automation, digital monitoring tools and integration of Environmental, Social
and Governance (ESG) considerations into its risk assessment processes. A Whistle Blower
Policy and Vigil Mechanism are in place to promote ethical conduct and facilitate
reporting of concerns in a secure and transparent manner.
Based on the evaluation of the internal financial reports of the
internal auditors, statutory auditors and management assessments, the Board, through the
Audit Committee, is satisfied that the Company's Internal
Financial Controls with reference to the financial statements were adequate and operating
effectively during the year under review.
7) Boar d Evaluation Process:
Pursu ant to the provisions of Section 178 Companies Act, 2013 and
Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 ("SEBI Listing Regulations"), the Board has constituted a Nomination and
Remuneration Committee ("NRC") comprising three Independent Directors, with an
Independent Director acting as the Chairperson of the Committee.
The Board has adopted a Nomination and Remuneration Policy which, inter
alia, lays down the criteria for appointment, qualifications, positive attributes
independence of Directors and remuneration of Directors, Key Managerial Personnel and
Senior Management Personnel. The Policy is available on the website of the Company at
https://www.jains.com/Company/investor/ data/Company%20Information/Policies/files/JISL_
a) Boar d Evaluation
Pursu ant to the provisions of the Companies 2013 and the SEBI Listing
Regulations, the annual performance evaluation of the Board, its Committees and individual
Directors was carried out during the year.
The Independent Directors, at their separate meetings held on 5
February 2026 and 30 March 2026 at Jalgaon, reviewed and evaluated the performance of the
Chairman, Executive Directors, Non-Independent Directors, and the Board as a whole. They
also assessed the quality, adequacy, and timeliness of information flow between the
Management and the Board to ensure that the Board is able to effectively and and
efficiently perform its duties.
The NRC has laid down the criteria for performance evaluation of the
Board, its Committees and individual Directors. The evaluation process covered various
aspects of the functioning of the Board and its Committees, including composition,
experience and competencies, effectiveness of Board processes, participation in
decision-making, governance and oversight functions.
Based on the outcome of the evaluation process, the Board is of the
view that it, its Committees and individual Directors continue to operate effectively and
discharge their respective duties and responsibilities satisfactorily.
b) Criteria for Evaluation of Board and its Committees
1) For Board: a) Composition and Quality
Boar d members have the appropriate talent, expertise,
qualifications, and skills to effectively contribute to meet the best interests of the
Company. the The Board members spend sufficient time in understanding the vision, mission
of the Company and strategic and business plans, financial reporting risks and related
internal controls and provides critical oversight on the same.
The Board has appropriate combination of industry knowledge and
diversity viz. gender, experience, background.
The Boar d has the proper number of committees as required by
legislation and guidelines, with well-defined reporting requirements.
The Boa rd understands the legal requirements and obligations under
which they act; i.e., byelaws, corporate governance requirements, etc. and discharge
functions accordingly. b) Board Meetings and Procedures The Mee tings of the Board
are held on basis and the frequency of such meetings is Act, enough for the Board to
undertake its duties properly.
The Board meeting agenda and related background papers are concise
and provide information of appropriate quality and detail on timely basis.
The Board meetings encourage a high quality of discussions and
decision making.
The Boa rd effectively works collectively as team in the best
interest of the Company.
All pr oceedings and resolutions of the Board are recorded
accurately, adequately and on a timely basis.
The minutes of Board meetings are clear, accurate, consistent, and
complete and disseminated timely.
The facility for video conferencing for conducting meetings is
robust. c) Strategy Boar d devotes time for development of suitable strategies and
business plans to effectively manage current and potential strategic issues. E ffectively
engages with management in the strategic planning process, including corporate goals,
objectives and overall operating and financial plans to achieve them.
d) Governance & Compliance
The Board evaluates and analyses compliance certificate from the
auditors /
Practicing Company Secretaries regarding compliance of conditions of
corporate governance and other applicable laws.
The Boa rd exhibits willingness to spend and effort to learn about
the Company and its business. e) Risk Management The pr ocesses are in place for
ensuring that Board, through the Audit Committee Meeting, is kept fully informed of all
material matters between meetings (including appropriate external information, e.g.,
emerging risks and material regulatory changes).
Ther e are adequate contingency plans addressing and dealing with
crisis situations, including pandemics, server breakdowns, etc.
The Board has sufficient understanding the risks attached to the
business structure, and the Board uses an appropriate Risk Management framework. The Board
has reviewed and understood the risks provided in the internal audit report, and
management has taken sufficient steps to mitigate the risks. f) Board and Management
Relations The Board has a range of appropriate performance indicators that are used to
monitor the performance of management.
Adequ ate level of independence of management from the Board.
Manage ment and the Board are accessible to each other.
The Boa rd is well informed on all issues and long-term) being
faced by the Company. An eff ective succession plan of the Board is place. g) Relations
with Stakeholders The Board regularly checks the organization's Vigil Mechanism
or Whistle Blower Policy and makes sure that the mechanism is working effectively during
the year.
The amount of time spent on discussions on strategic and general
issues is sufficient.
The Board monitors and manages to potential conflicts of interest
of management, members of the Board of Directors and shareholders, including misuse of
corporate assets and abuse in related party transactions. h) Professional Development Adequ
ate induction and professional development programs are made available to new and old
directors.
Appr opriate development opportunities encouraged and communicated
well in time.
2) For Committees: the a) Composition, Effectiveness, Functions
and
Duties
The mandate, composition and working procedures of the Committee
are clearly defined and discussed. time Comm ittee takes effective and proactive measures
to perform its functions.
The composition of the Committee is in compliance with the legal
requirements. the b) Structure of the Committee and Meetings The Committee is
properly structured and regular meetings are held.
Comm ittee meetings are organized properly and appropriate
procedures are followed in this regard. for c) Management Relations
Committee meetings are conducted in a manner that encourages open
communication of and meaningful participation of its members. d) Contribution to
Decisions of the Board
Committee makes periodic reporting to the Board along with its
suggestions and recommendations.
3) For Individual Director: a) Effectiveness, Functions and Duties
The Director has sufficient understanding and knowledge of the
entity and the sector in which it operates. the The Director understands and fulfills the
functions as assigned to him by the Board and the law. easily The Dir ector is available
for meetings of the Board and the Board Committees where he is (short a member and attends
the meetings regularly and timely, without delay. is in P articipates in Board and
Committee meetings actively and consistently and is able to function as an effective team
member.
Understands, and can evaluate, the risk environment of the organization
and proactively contributes in development of strategy for the risks.
Shar es domain knowledge and experience to bear on the critical
areas of performance of the organization and keeps self-updated in the area of expertise.
The Dir ector has constructive and analytical decision-making
abilities and core competencies for effective functioning of the Board.
Demons trates highest level of integrity (including conflict of
interest disclosures, maintenance of confidentiality, etc.).
Wher e applicable, as Chairperson of respective are Committees,
he/she is impartial in conducting discussions, seeking views and dealing with dissent,
etc. Seeks appropriate clarification, or amplification of information as and when
necessary.
Conduct s himself/herself in a manner ethical and consistent with
the applicable laws. Pr oactively contributes to development strategy and towards risk
management of the Company.
The Dir ector is available for meetings Board and the Board
Committees where he is a member and attends the meetings regularly and timely, without
delay.
P articipates in Board and Committee meetings actively and
consistently and is able to function as an effective team member.
4) For Chairman: a) Effectiveness, Functions and Duties
Whether the Chairman leads the Board effectively.
Whether the Chairman ensures participation of all members in the
Board deliberations.
Whether the Chairman guides the Board/ Management on key issues to
be brought before the Board for deliberations.
Whether the Chairman enhances the Company's image in dealing
with major stakeholders.
8) Familiarization Programme for Independent Directors (ID's)
The Company has in place a structured Familiarization Programme for
Independent Directors, aimed at enabling them to understand the business, operations, and
governance framework of the Company in depth. Upon appointment, Independent Directors are
provided with necessary documents, brochures, reports, and internal policies to
familiarize themselves with the Company's procedures and practices.
Periodic presentations are made at the meetings of the Board and its
Committees covering various aspects of the Company's business and performance,
including finance, sales, marketing, and operations of key business segments. The
Directors are also apprised of human resource practices, overview of major subsidiaries,
global business environment, business strategy, and associated risks.
In addition, quarterly updates on relevant statutory and regulatory
changes, as well as landmark judicial pronouncements under key applicable laws, are
regularly circulated to the Directors to keep them abreast of the evolving regulatory
landscape.
Further, a visit to the Company's headquarters and/ or key
operational facilities is generally organized for
Independent Directors upon their first appointment, enabling them to
gain first-hand understanding of the
Company's operations.
The details of the Familiarization Programmes for
Independent Directors are available on the Company's website at:
https://www.jains.com/Company/investor/ data/Company%20Information/Policies/files/JISL_
thatFamiliarization_ProgrammesIndependent_Directors.pdf is 9) Vigil Mechanism
In terms of Section 177(9) and (10) of the Companies Act, 2013 read
with Regulation 22 of the SEBI (Listing of theObligations and Disclosure Requirements)
Regulations, 2015, the Company has established a Whistle Blower Policy forming part of the
Vigil Mechanism framework to enable Directors, employees, suppliers, and vendors to report
genuine concerns regarding suspected fraud, unethical behaviour, or violation of the
Company's Code of Conduct and Ethics Policy.
The Vigil Mechanism provides adequate safeguards against victimisation
of persons who use such mechanism and also provides for direct access to the Chairperson
of the Audit Committee. It is hereby affirmed that no person has been denied access to the
Audit Committee.
The Whistle Blower Policy is hosted on the Company's website at:
https://www.jains.com/Company/investor/ data/Company%20Information/Policies/files/
WHISTLE_BLOWER_POLICY.pdf
10) Fraud Reporting
During the year under review, the Directors confirm that no fraud has
been detected. Further, pursuant to the provisions of Section 143(12) of the Companies
Act, 2013, neither the Statutory Auditors nor the Secretarial Auditor has reported any
instance of fraud to the Audit and Risk Management Committee or the Central Government.
11) Fixed Deposits
Durin g the year under review, the Company has not accepted or renewed
any deposits from the public within the meaning of the Companies Act, 2013 and the
Companies (Acceptance of Deposits) Rules, 2014, as amended from time to time. Further,
there were no unclaimed or overdue deposits as on 31st March, 2026.
12) Auditors a) Statutory Auditors
M/s. Singhi & Co., Chartered Accountants, Kolkata, were
re-appointed as the Statutory Auditors of the
Company for a second term of five (5) consecutive years at the 38th
Annual General Meeting held on 29th
September, 2025, to hold office from the conclusion of the said Annual
General Meeting until the conclusion of the 43rd Annual General Meeting of the
Company to be held in the year 2030. The Statutory Auditors have confirmed that they
continue to satisfy the eligibility criteria prescribed under the Companies Act, 2013 and
the rules made thereunder and that they are not disqualified from continuing as Statutory
Auditors of the Company.
The Auditors' Report on the Standalone and
Consolidated Financial Statements for the financial year ended 31st
March, 2026 does not contain any qualification, reservation, adverse remark, disclaimer,
or emphasis of matter requiring any explanation from the Board of Directors. b) Cost
Auditors
In accordance with Section 148(1) of the Act, 2013 read with the
Companies (Cost Records and Audit) Rules, 2014, the Company has maintained the requisite
cost records.
Pursuant to Section 148 of the Companies Act, 2013, the Board of
Directors has appointed M/s. D. C. Dave & Co., Cost Accountants, Mumbai, as the Cost
Auditors of the Company for the financial year 2025
26. The remuneration payable to the Cost Auditors for the financial
year 2026 27 is subject to approval of the Members at the ensuing Annual General Meeting. c)
Secr etarial Auditor
Pursu ant to Section 204 of the Companies read with the rules made
thereunder, the Company has appointed M/s. V. Laxman & Co., Practicing Company
Secretaries, Mumbai as the Secretarial Auditor of the Company.
The Members of the Company, at the 38th Annual General Meeting held on
29th September, 2025, approved the appointment of M/s. V. Laxman
& Co. for the term of five (5) consecutive years, commencing from
the conclusion of the 38th Annual General Meeting until the conclusion of the 43rd Annual
General Meeting of the Company to be held in the year 2030, based on the recommendation of
the Audit Committee and the Board of Directors.
The Secretarial Audit Report for the financial year ended 31st
March, 2026 issued by M/s. V. Laxman & Co. is annexed to this Report as Annexure IX.
The said report does not contain any qualification, reservation, adverse remark,
disclaimer, or other observation requiring explanation from the Board of Directors. d)
PCS Certificate on Corporate Governance Report
In terms of Regulation 34 read with of the SEBI (Listing Obligations
and Disclosure
Requirements) Regulations, 2015, a certificate on compliance of
conditions of Corporate Governance has been issued by ADCN & Company (Formerly known
as Amrita Nautiyal & Associates) Practising
Company Secretary, Mumbai. The said certificate forms part of the
Corporate Governance Report and is annexed as Annexure IV.
13) Meetings of the Board & its Committees a) Boar d Meeting
Six (6) meetings of the Board of Directors were held during the
financial year. The particulars of the meetings held and attendance of each Director are
detailed in the Corporate Governance Report annexed as Annexure IV to this Report.
b) Audit Committee
The Audit Committee comprises of: Mr. Shishir
Dalal (Chairman), Dr. Narendra Jadhav, Mr. Bastiaan Mohrmann, Ms. Nancy
Barry and Mr. Anil Jain. During the year, all recommendations made by the Audit Committee
were accepted by the Board of Directors. Five (5) meetings of the Audit Committee were
held during the financial year. For details regarding the scope and other matters, refer
the Corporate Governance Report annexed as Annexure IV to this Report. c) Corporate
Social Responsibility Committee
The Corporate Social Responsibility Committee comprises of: Dr.
Narendra Jadhav (Chairman), Mr. Ashok B. Jain and Mr. Atul B. Jain. One (1) meeting of the
Committee was held during the financial year. The
CSR Report detailing CSR initiatives and mandated expenditure is
annexed as Annexure III to this Report. d) Nomination and Remuneration Committee
The Nomination and Remuneration Committee 2013 comprises of: Dr.
Narendra Jadhav (Chairman), Mr. Shishir Dalal and Ms. Nancy Barry. The Committee reviewed
managerial remuneration for FY 2025–26. Two (2) meetings were held during the year.
For details, refer the Corporate Governance Report annexed as Annexure IV to this Report. e)
Stakeholders' Relationship Committee
The Stakeholders' Relationship Committee comprises of: Dr.
Narendra Jadhav (Chairman), Mr. Shishir Dalal and Mr. Ajit B. Jain. The Committee noted
the satisfactory investor grievance redressal and low level of complaints during the year.
Four
(4) meetings were held during the financial year.
For details, refer the Corporate Governance Report annexed as Annexure
IV to this Report. f) Risk Management Committee
The Risk Management Committee comprises of: Mr. Bastiaan Mohrmann
(Chairman), Mr. Shishir Dalal, Mr. Ajit B. Jain and Mr. Atul B. Jain. The Committee met
three (3) times during the year and reviewed the risk management framework and mitigation
measures. For details, refer the Corporate Governance Report V annexed as Annexure IV to
this Report. g) Management Review Committee
The Management Review Committee comprises of: Mr. Anil B. Jain, Mr.
Ajit B. Jain, Mr. Atul B. Jain, Mr. Avdhut V. Ghodgaonkar and Mr. Bipeen Valame. The
Committee reviewed operational performance for FY 2025–26. Fourteen (14) meetings
were held during the year. For details, refer the Corporate Governance Report annexed as
Annexure IV to this Report. h) Sub Committee (Allotment)
The Sub-Committee (Allotment) comprises of: Dr. Narendra Jadhav
(Chairman), Mr. Anil B. Jain and Mr. Shishir Dalal. Two (2) meetings of the committee were
held during the year.
i) ESOP Allotment Sub-committee
The ESOP Allotment Sub-Committee comprises of: Mr. Anil B. Jain
(Chairman), Dr. Narendra Jadhav and Mr. Shishir Dalal. No meeting of the Committee was
held during FY 2025–26.
14) Particulars of Employees
Pursu ant to the provisions of Section 197(12) of the Companies Act,
2013 read with Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014,
five employees of the Company were in receipt of remuneration of `8,50,000 or more per
month during the financial year or part thereof. The prescribed particulars of such
employees are provided in Annexure I forming part of this Report.
Particulars of Top Ten Employees
In add ition to the above, the details of the top ten employees (other
than the Key Managerial Personnel) in terms of gross remuneration drawn during the
financial year, along with their respective areas of responsibility, are provided below:
Sr. Full Name |
Designation |
Area of Responsibility |
CTC-FY 2025-26 |
CTC-FY 2024-25 |
|
|
|
(in `) |
(in `) |
| 1) Jain Abhay Kantilal |
President (Maharashtra) |
Sales Domestic |
89,30,796 |
89,30,796 |
| 2) Kataria Anilkumar |
President |
Sales Domestic (South) |
87,00,372 |
87,00,372 |
| 3) Patil Kalyansing Baburao |
Exe. Senior Vice President |
Sales Tissue Culture |
71,02,836 |
71,02,836 |
| 4) Desarda Dongarmal Inderchand |
President |
Indirect Tax |
67,54,140 |
67,54,140 |
| 5) Samdani Vijay Loknath |
Senior Vice President |
IT - Project |
67,47,000 |
67,47,000 |
| 6) Goyal Rohit |
Senior Vice President |
Banking & Finance |
64,99,152 |
- |
| 7) Patil Anil Bajirao |
Exe. Senior Vice President |
Tissue Culture |
63,02,808 |
63,02,808 |
| 8) Bhirud Ashish Pandurang |
Vice President |
Civil |
61,10,136 |
61,10,136 |
| 9) Joshi Abhijeet Bhaskar |
Exe. Senior Vice President |
Product Development |
60,92,988 |
60,92,988 |
| 10) Mangal Satish Chand |
Senior Vice President |
SQC |
60,83,496 |
60,83,496 |
F] Policies and Other Relevant Disclosures
a) Policies
The Company has adopted various policies and codes in compliance with
the provisions of the Companies Act, 2013, the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 and other applicable laws. These policies are hosted on
the Company's website and are accessible through the following links:
Sr. Policy |
Web Link |
| 1) Code of Conduct for Board Members and
Senior Management Personnel |
https://www.jains.com/Company/investor/data/Company%20
Information/Policies/files/CodeofConductJISL.pdf |
| 2) Code for Prevention of Insider Trading |
https://www.jains.com/Company/investor/data/Company%20 |
|
Information/Policies/files/CodeofConduct-InsiderTrading.pdf |
| 3) Corporate Social Responsibility (CSR)
Policy |
https://www.jains.com/Company/investor/data/Company%20 |
|
Information/Policies/files/JISL_Corporate_Social_Responsibility_Policy.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 4) Whistle Blower Policy |
Information/Policies/files/WHISTLE_BLOWER_POLICY.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 5) Policy for Determining Material
Subsidiaries |
Information/Policies/files/JISL_Policy_on_Determining_Material_ |
|
Subsidiary.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 6) Risk Management Policy |
Information/Policies/files/JISL_Risk_Management_Policy.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 7) Performance Evaluation Policy |
Information/Policies/files/JISL_PERFORMANCE_EVALUATION_POLICY.
pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 8) Policy on Materiality of and Dealing with
Related Party Transactions |
Information/Policies/files/Policy_on_Materiality_and_Dealing_with_ |
|
Related_Party_Transactions.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 9) Disclosure of Information Policy |
|
|
Information/Policies/files/JISL_DISCLOSURE_POLICY.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 10) Nomination and Remuneration Policy |
Information/Policies/files/JISL_APPOINTMENT_AND_REMUNERATION_ |
|
POLICY.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 11) Dividend Distribution Policy |
|
|
Information/Policies/files/JISL_Dividend_Policy.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| Policy for Prevention of Sexual 12)
Harassment at the Workplace |
Information/Policies/files/Policy_for_Prevention_of_Sexual_Harassment_ |
|
at_workplace.pdf |
| Quality, Environment, Occupational |
https://www.jains.com/Company/investor/data/Company%20 |
| 13) Health and Safety Policy |
|
|
Information/Policies/files/JISL_Health_Safety_Policy_2018-12.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 14) Policy on Preservation of Documents |
|
|
Information/Policies/files/Policy_on_preservation_of_Documents.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 15) Centralised Purchase Policy |
|
|
Information/Policies/files/Jain_Centralised_Purchase_Policy.pdf |
|
https://www.jains.com/Company/investor/data/Company%20 |
| 16) Anti-Bribery and Anti-Corruption Policy |
|
|
Information/Policies/files/Anti_Bribery_and_Anti_Corruption_Policy.pdf |
b) Other Policies/ Governance Documents |
|
| The following other governance
disclosures/policies are also available on the Company's website: |
|
Sr. Document |
Web Link |
| 1) Familiarisation Programme for |
https://www.jains.com/Company/investor/data/Company%20Information/ |
| Independent Directors |
Policies/files/JISL_Familiarization_ProgrammesIndependent_Directors.pdf |
| 2) Investor Handbook and Hierarchy of |
https://www.jains.com/Company/investor/data/Company%20Information/ |
| Escalation for Redressal of Investor |
Policies/files/Investors_handbook_and_hierarchy_of_escalation.pdf |
| Complaints |
|
| 3) Terms and Conditions of Appointment of |
https://www.jains.com/Company/investor/data/Company%20Information/ |
| Independent Directors |
Policies/files/Terms_Conditions_of_Appointment_of_Independent_ |
|
Directors.pdf |
| 4) Internal Audit Charter |
https://www.jains.com/Company/investor/data/Company%20Information/ |
|
Policies/files/Internal_Audit_Charter.pdf |
| 5) Succession Planning Policy |
https://www.jains.com/Company/investor/data/Company%20Information/ |
|
Policies/files/Succession_Planning_Policy.pdf |
| 6) List of Top Ten Senior Executives (Other |
https://www.jains.com/Company/investor/data/Company%20Information/ |
| than KMPs) |
Policies/files/JISL_List_of_Top_10_Senior_Executives_Otherfithan_KMP. |
|
pdf |
G] Disclosures about Environment Health and Safety Performance, Energy
Conservation, Technology Absorption, Research and Development, Foreign Exchange Earnings
and Outgo.
1) Envir onment Health and Safety Performance
New sophisticated Environmental monitoring devices with data
logging and wireless connectivity have been acquired and put to use.
Light we ight cutting tools were provided in the Driptape plant.
An aut omatic conveyor is installed and commissioned that is now
integrated with existing machines in the Sprinkler pipe plant. This system has increased
safety performance and production capacity.
In tiss ue culture laboratory tubelights are being replaced with
LED lights for the production activities.
In the PV C Sheet Plant, motorized linear actuators were installed
for efficient processing. The scis sor lift wheel was modified to include rail for ease of
travel.
Inhou se reprocessing of various materials was improved in the
Injection Moulding plant. Dust r eduction measures were improved in the PVC pipe plant.
2) Energy Performance
Implementation of ISO 50001:2018 certification
(Energy Management System) Hyderabad, Alwar and Tissue Culture plant is
underway. On completion all plants of JISL will be compliant with ISO 50001:2018.
Driplin e plant DC drive and motor were by AC drive and motor for
improvement in energy efficiency.
A utoclave usage was optimized in Tissue Culture through process
modification for better energy efficiency.
Existi ng air compressors were replaced by energy efficient compressors
in the Sprinkler pipe plant.
Additi onal energy meters were installed at plant for better
performance monitoring.
Ener gy efficient heaters were installed in the plant.
P ercentage of Energy efficient lighting and BLDC fans was increased.
Machine programs were updated to optimize the energy consumption.
In PVC Sheet plant, VFDs and air boosters installed for better energy
efficiency
In injection moulding plant pumps were optimized to save energy,
multistage pumps were replaced by centrifugal pumps and heaters were optimized for better
energy efficiency.
In the PVC Pipe Plant, more energy efficient were installed on the
chilling setup and advanced energy saving heaters were installed on machines.
3) Energy Conservation, Technology Absorption, Research and
Development, Foreign Exchange Earnings and Outgo.
A) Agri Park & Tissue Culture i) Energy and Water Conservation
Instal lation of solar power connected with connectivity to
supplement energy required for green house and agriculture requirements. With sustained
efforts during 2025-26 total 25 KWH was added. Additionally two direct solar pumps of 5 HP
were added for the irrigation of R&D crops.
Repla cement of fluorescent lights in airflow by LED light in
tissue culture production facility to reduce power consumption by 85% for this particular
purpose. This brings cumulative annual savings of 71980 kilowatt hours. ii) Technology
Absorption JISL licensed two newly developed of banana namely Kavery Poovan and Kavery
Vaman from ICAR-NRC Banana, Trichy for multiplication and commercialisation.
Newly developed turmeric variety Pragati and ginger variety Vajra
were licensed from
ICAR-IISR, Kozhikode for multiplication and commercialisation.
iii) Research and Development
Tissu e culture coconut: During 2019 tissue cultured coconut plants
were first planted in the for evaluation. These plants are fruiting like field mother
plants. This result will put forward our conviction to multiply coconut through tissue
culture.
De velopment of new varieties has reached a fascinating stage and
out of 1430 populations 30 mango hybrids pass the stringent quality parameters and are
selected for further evaluation. more De velopment of garlic variety for processing has
been an objective of our research team. With many years of research one variety is
developed and was taken for further multiplication and seed production.
De velopment of onion variety for dehydration is one of the major
objectives in onion breeding. A new onion variety with high TSS and high yield has been
developed to supplement the existing JV-12. This will help in expanding the harvesting
season by 10-15 days.
B) Energy Park i) Energy Conservation
Solar Motor & Pumps :
To reduce Energy consumption in CNC & VMC machining of all Motor
components CNC & VMC machine programs are updated to reduce machining time.
Solar W ater Heating Systems:
Heat Pump technology introduced for water heating applications up to
60?C (Industrial, Commercial & Domestic). Energy savings up to 66% can be achieved
when compared with electric immersion heating technology.
Solar Photovoltaic Appliances:
1) SMT Pick up Machine Programme updated grid to reduce M/C Cycle time.
2) New developed 18W LED tube light provides better PAR than a
conventional 40-42W fluorescent tube. with approx 55- 60% reduction in Electricity
compared to fluorescent lighting which also reduces cooling power requirements. ii)
Technology Absorption/upgradation Solar Photovoltaic Appliances :
1) Developed PLC Based Testing Jig for RTU's.
2) Implemented use of advanced testing & Quality inspection
equipment for Process improvement.
Solar motor & pumps:
1) Started production of Rewindable submersible PMSM motors -5hp.
2) Procured a Magnetizer machine to recharge a Rotor Made with Non -
Magnetize Magnets which will improve the Productivity & Safety in Rotor Assembly Line.
3) Magnetizer is also useful for Recharging & Reuse of old Magnets
or Rotors return from Field for servicing, which will save the cost of Magnets &
Reduce the consumption of precious Rare Earth Materials. iii) Research and Development
Solar Photovoltaic Module:
Design, installation & commissioning of Vertical Solar Agrovoltaic
Power Generation System of 70 kWp capacity at Jain Hills.
Solar motor & pumps: i) Design and development of 4''
Submersible PMSM/BLDC (Permanent Magnet Synchronous motor) for solar pumping applications.
Motor capacities – 7.5hp &10hp. Prototype tested successfully.
Prototypes put on field trails. ii) Design and development of
6'' Submersible PMSM/BLDC (Permanent Magnet Synchronous motor) for solar pumping
applications. Motor capacities – 10hp. Prototype tested successfully. iii)
Advancement of 0.5hp Sunlight solar pump
– Cost reduction - development of Plastic
Insert. Prototype under field trails. iv) Development of Helical Stator
& Rotor pumps parts for 0.5hp solar Sunlight pump. Testing completed. Released for
production. v) Advancement of 0.5hp Sunlight solar pump – Cost reduction - printed
key board controller for SLP 2hp. Prototype under field trails.
Solar W ater Heating Systems i) Developed Heat Pump Water Heaters
with heating capacity of 4 kW, 12 kW & 20 kW which can be used for heating water up to
60?C. ii) Installed 10 Nos of Heat Pumps across the company for various applications like
autoclaves in TC labs, domestic hot water for guest houses at JH, boiler feed water, aqua
pool heating at Naturopathy centre, process heat for Injection Molding machines etc.
Solar Photovoltaic Appliances i) Design and development of an
Economic 18W LED PAR Tube Light for Tissue Culture with the required spectrum, Tested,
productionized, and installed at Tissue Culture Lab. ii) Designing of a PAR LED tube light
for tissue culture with different spectra is under development Prototype ready. iii)
Designed and developed a Far Red-based LED tube Light for potatoes; the prototype is ready
and given for field trials at Jain Hills. iv) Developed a specific spectrum LED tube light
for the Saffron Project; the prototype is ready and given for field trials at Jain Hills.
v) Designed a solar-based LED insect trap; the prototype is ready and
has been submitted for field trials at Jain Hills. vi) Designing Insect Trap for specific
species proto ready and has been submitted for field trials. vii)Development of Solar Pump
Controller 2.2kW and 3.7kW with RS485 protocol for submersible 3-phase PMSM motors for
water pumping applications, already Productionized. viii)Development of controller with
Serial interface & BLE module as a single unit in Sunlight
Pump Controller (SLP3) released production. i) Existing Solar pump
controllers (2.2kW and 3.7kW) have been upgraded with the economical PV reverse Polarity
protection. ii) MOSFET-based solar pump controllers (2.2kW and 3.7kW) have been improved
with IGBT-based technology. iii) Development of PLC based Irrigation controller ( TARANG
RTU ). iv) Development of STM32 PLC LORA RTU with BMSys. v) Development of HART
Functioning RTU.
C) Plastic Park i) Resea rch and Development Low temperature PVC
flexible tubing:
PVC can be compounded with the additives of our choice depending on the
requirements of the end use and application. Products made out of PVC can be rigid or foam
or flexible at room temperature depending upon the key ingredient incorporated at the
compounding stage. Regular vinyl tubing is produced by incorporating an appropriate
additive known as plasticiser which helps to reduce the glass transition temperature of
the PVC product. Plasticizer molecules accommodates between the PVC polymer chains and
thereby reduces the intermolecular attractions. This increases the chain mobility /
segmental mobility of the PVC polymer chains. As the polymer chains can move more easily,
the PVC product changes from glassy or rigid state to rubber / flexible. However the
ability to retain the flexibility depends on the type of plasticiser added in the recipe.
Regular recipe, though helps to attain flexibility at room temperature it no longer helps
to maintain the same level of flexibility at low temperature or sub-zero temperature.
Below the zero degree temperature the PVC polymer chain and the regular plasticising
additive molecules lose mobility and hence free volume in the polymer decreases. This
ultimately results in diminishing plasticizing efficiency. Even though the glass
transition temperature is below room temperature, at zero degree Celsius the product
approaches the region where its segmental mobility becomes restricted. Hence the impact
energy can no longer be dissipated efficiently through the chain movement. Under drop
impact, stresses become concentrated and hence instead of deforming, PVC product fractures
or cracks. Thus the flexible tube feels rigid and exhibits poor drop impact performance.
However some of the field applications demand maintaining the flexibility even at
temperatures well below the zero degree. Hence special formulation was developed to
achieve the flexibility at sub-zero temperature. A special additive which remains much
more flexible / mobile at low temperature than the conventional plasticizer was selected
and incorporated in the formulation. The glass temperature of the product made with this
special additive is well below that of the product made with commodity plasticizer. This
additive which is aliphatic in nature, makes the product more flexible and mobile,
increases the intermolecular spacing between the PVC polymer chains, generates more free
volume and allows chain segments to continue moving at low temperatures. For good impact
strength at low temperature, the material must absorb impact energy through molecular
rearrangement, localized yielding & chain movement and the special additive
incorporated in the formulation does / enables all these effects. Hence when there is an
impact, instead of crack initiation and brittle fracture the product upon impact makes
chain movement, absorbs energy and deforms thus maintaining flexibility at sub-zero
temperature. As the ductile to brittle transition is shifted to a much lower temperature,
the cold crack resistance is improved. Product with a new recipe was tested and the
sub-zero temperature impact strength found to have increased multi-folds.
Rot oclean Strainers FTF:
When source water is drawn from a reservoir, sump, pond, river, canal,
or similar open water body, it often contains impurities such as small stones, leaves,
twigs, trash, and other physical contaminants. These impurities can block the foot valve
and affect pump performance.
To address this challenge, Jain Irrigation offers the innovative
Rotoclean Strainer FTF (Floating Type Filter), a floating and self-cleaning suction-side
filter designed to protect pumps and foot valves from debris and physical impurities. It
also functions as a pre-primary filter, ensuring efficient system performance, reduced
maintenance, and longer system life.
W orking of Rotoclean Strainer FTF:
The Rotoclean Strainer FTF is a self-cleaning rotating drum strainer
designed for pump and system protection, especially where water must be drawn from shallow
sources.
The water intake port is surrounded by a rotating drum-shaped stainless
steel screen. A lightweight MS frame and HDPE pontoon provide flotation to the unit. The
rotating stainless steel screen is cleaned continuously by a row of spray nozzles mounted
inside the drum, which spray water outward through the mesh screen.
The cleaning nozzles are positioned to spray downstream, helping debris
move away from the Rotoclean Strainer. This self-cleaning action keeps the screen clean
around the water intake port and ensures uninterrupted water flow.
Applications
Rotoclean Strainer FTF can be used in a wide range of water sources,
including rivers, streams, dams, canals, reservoirs, sumps, and ponds. It is ideal for
irrigation systems such as drip irrigation and pivot irrigation, as well as town water
supply and grey water pumping applications.
Designed as an important part of the pump system, Rotoclean ensures
maintenance-free operation. Its stainless steel components resist rust and corrosion,
while the drum rotates on nylon rollers fitted with stainless steel bearings.
Rotoclean is available in various sizes to suit suction lines from
4" to 12".
T arang PRO RTU
In automated irrigation systems, there is often a need to operate field
devices wirelessly. In many large, geographically cases,agricultural fields scattered, or
located in areas where laying communication cables is impractical. Even when cables are
installed, they are susceptible to damage caused by intercultural operations, rodent
attacks, weather conditions, and routine field activities.
To overcome these challenges, Jain Irrigation has developed Tarang PRO
RTU (Remote Terminal Unit), a unique radio-operated communication solution designed for
reliable wireless automation in irrigation systems.
One of the key advantages of Tarang PRO RTU is its versatility. It can
be seamlessly integrated with the Jain Spirit PRO Advanced Irrigation Controller, while
also being compatible with standard PLCs (Programmable Logic Controllers) such as Siemens
and other leading brands. This flexibility makes Tarang PRO suitable for a wide range of
customized automation applications.
Tarang PRO RTU operates using LoRa (Long
Range) wireless communication technology, enabling reliable
long-distance communication with low power consumption. Under clear line-of-sight
conditions, it can provide communication coverage of more than 10 kilometers.
The unit is powered by solar energy, making it ideal for remote
agricultural locations where grid power may not be readily available.
Using Tarang PRO RTU, users can control and monitor various devices
through:
4 Digital Outputs for operating valves and other control devices
4 Analog Inputs for connecting sensors as pressure sensors, flow
sensors, and level sensors
2 Digital Inputs for devices such as rain switches, water meters,
and status signals T arang PRO also incorporates an advanced theft protection feature. If
the RTU enclosure is opened without authorization, an alert is immediately transmitted to
the monitoring console, helping safeguard field equipment. Designed for maximum energy
Tarang PRO RTU offers up to two days of power backup redundancy,
ensuring uninterrupted operation even during periods of low solar charging.
Key Features
Wir eless communication using LoRa technology Comm unication range
exceeding 10 km under clear line-of-sight conditions Comp atible with Jain Spirit PRO and
standard PLCs Solar- powered operation for remote locations
4 Digital Outputs, 4 Analog Inputs, and 2 Digital Inputs
Real-time monitoring and control of field devices Built-i n
theft/tamper detection with alert generation
Ener gy-efficient design with two days of backup redundancy Suitab
le for customized irrigation and automation applications T arang PRO RTU is a robust,
flexible, and cost-effective solution for wireless irrigation automation, enabling
reliable communication, enhanced control, and simplified installation across large and
dispersed agricultural fields.
4) Foreign Exchange Earnings and Outgo a) The for eign exchange
earnings & outgo as per details hereunder
` in Crore
Particulars |
2025-26 |
2024-25 |
| a) C. I. F. Value of Imports, Expenditure and
Earnings of Foreign Currency |
|
|
| i) CIF value of imports Raw materials and
components and Stores and Spares |
239.33 |
338.58 |
| ii) Capital goods |
25.42 |
57.41 |
Total |
264.75 |
395.99 |
| b) Expenditure in foreign currency (on
accrual basis) |
|
|
| c) Interest and finance charges |
7.26 |
10.96 |
| d) Discount / commission on export sales |
11.88 |
- |
| e) Export selling / market development
expenses |
2.69 |
0.49 |
| f) Travelling expenses |
0.37 |
0.50 |
| g) Law and legal / professional consultancy
expenses |
1.16 |
- |
| h) Testing, quality and other charges |
1.75 |
0.95 |
Total |
25.11 |
12.89 |
| i) Earnings in foreign currency |
|
|
| FOB value of exports (on the basis of bill of
lading) |
414.18 |
462.43 |
Total |
414.18 |
462.43 |
b) Material Changes & Commitment affecting the Financial Position
of the Company
There are no material changes affecting the financial position of the
Company subsequent to the close of the Financial Year 2026 till the date of this report.
There has been no change in the nature of business of the Company.
There is no proceeding pending under the Insolvency and Bankruptcy
Code, 2016.
There was no instance of onetime settlement with any Bank or Financial
Institution.
Since the implementation of the Resolution Plan in 2022, the Company
has not committed any default or cross-default in servicing its loans, including payment
of installments, interest, or any related charges, at any point of time.
H] Mandated Annexures
1) Corporate Governance Report
The Company constantly endeavors to corporate governance guidelines and
best practices sincerely and disclose the same transparently. The Board is conscious of
its inherent responsibility to disclose timely and accurate information regarding the
Company's operations, performance, material corporate events as well as on the
leadership and governance matters relating to the Company.
The Board, at all times exercises its independence both, arein
letter and in spirit, and the Directors fully understand their fiduciary duties. The
Directors have always acted in the best interest of the Company and will continue to do so
in the future. It is equally important to state that the Company has a professional and
competent leadership team for the management of the business. The Board guides, supports
and compliments the Management team towards achieving the set objectives to make the
enterprise more sustainable and valuable in the future. A separate Corporate Governance
Report is attached as Annexure IV, forming part of Director's Report in terms SEBI
(Listing Obligations and Disclosure Requirements)
Regulations, 2015. A Certificate from Practicing Company Secretary,
confirmingcompliance of Corporate
- Governance disclosures and requirements and SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 is also attached together with CEO
Certificate/declaration.
- 2) Management Discussion and Analysis Report (MDAR)
Pursu ant to the requirements of the SEBI Obligations and Disclosure
Requirements) Regulations, 2015, a separate Management Discussion and Analysis Report is
annexed as Annexure V to this Report.
3) Particulars of Loans, Guarantees or Investments of the Company
The particulars of loans given, guarantees provided investments made by
the Company during FY 2025-26, as required under Section 186 of the Companies Act, 2013,
are provided in Annexure VI to this Report.
4) Consolidated Financial Statements
The Consolidated Financial Statements have prepared in accordance with
the applicable Indian Accounting Standards (Ind AS) and form part of the Annual Report.
Pursuant to Section 129(3) of the Companies Act, in 2013, a statement
in Form AOC-1 containing the salient features of the financial statements of the
Company's subsidiaries and associates is annexed as Annexure II to this Report.
In terms of the provisions of the Companies Act, 2013, the standalone
and consolidated financial statements of the Company, along with the relevant documents,
are available on the Company's website and shall also follow the be available for
inspection by the Members at the Registered Office of the Company.
5) Significant, Material orders passed by the Regulators/ Court/
Tribunals
There are no significant any Regulators, Courts or Tribunals which
would impact the going concern status of the Company or its future operations. Details of
contingent liabilities, if any, are disclosed in the notes forming part of the Financial
Statements.
6) Secr etarial Standards
The Company has complied with the applicable Secretarial Standards,
namely SS-1 relating to Meetings of the Board of Directors and SS-2 relating to General
Meetings, issued by the Institute of Company Secretaries of India.
7) Annual Return of FY 2024-2025
Pursuant to Section 92(3) of the Companies Act, 2013, the Annual Return
of the Company in Form MGT-7 for the financial year 2024 25 is available on the
Company's website and can be accessed at:https://www.jains.com/
Company/investor/data/Home%20Page/Annual%20
Return/files/Annual_Return_20 24_25.pdf
8) Dir ectors Remuneration
The information required pursuant to Section of the Companies Act, 2013
read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 is annexed as Annexure VII to this Report.
9) Contracts or arrangements with Related Parties
All contracts and arrangements entered into by the
Company with related parties during the financial year were conducted
in the ordinary course of business and on an arm's length basis, in compliance with
the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015. Except for transactions with subsidiaries,
where transfer pricing arrangements are in place in accordance with the regulatory
requirements of the respective countries of operation, the Company did not enter into any
new Related Party Transactions ("RPTs") or Material Related Party Transactions
during the year.
The Company undertakes certain export-import related transactions with
its subsidiaries in the ordinary course of business. Details of such transactions are
provided in Annexure VIII.
During the year under review, no material significant
Related Party Transactions were entered into by the Company with its
Promoters, Directors, Key Managerial Personnel ("KMPs"), or other related
parties that could have had a potential conflict with the interests of the Company.
All Related Party Transactions were placed before the Audit Committee
for its review and approval. The Audit Committee comprises Mr. Shishir Dalal (Chairman),
Dr. Narendra Jadhav, Mr. Bastiaan Mohrmann, Ms. Nancy Barry, and Mr. Anil Jain. In
addition, the Audit
Committee reviews all Related Party Transactions on a quarterly basis,
including those that may have been approved earlier, to ensure continued compliance with
the applicable legal and regulatory framework.
The Company has adopted a Policy on Materiality of and Dealing with
Related Party Transactions, which has been approved by the Board of Directors. The Policy
is also available on the Company's website and can be accessed at:
https://www.jains.com/Company/investor/data/
Company%20Information/Policies/files/Policy_
on_Materiality_and_Dealing_with_Related_Party_
Transactions.pdf
10) Business Responsibility & Sustainability Report
Pursu ant to Regulation 34(2)(f) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Business Responsibility and Sustainability
197 Report (BRSR), describing the initiatives undertaken by the Company from an
environmental, social and governance perspective, is annexed as Annexure X to this Report
and is also hosted on the Company's website.
The BRSR has been assured by T?V India Private Limited, an independent
third-party assurance provider.
Their assurance confirms the accuracy, credibility and completeness of
the disclosures made in the Report.
I) Miscellaneous
a) Acknowledgement
The Dir ectors take this opportunity to place on their appreciation of
whole hearted support received from all stakeholders, customers and the various
departments of Central and State Governments, Financial Institutions, Bankers, the Dealers
and Suppliers of the Company. The Directors wish to place on record their sense of
appreciation for the devoted services of all the associates of the Company.
| Sd/- |
Sd/- |
| Anil B. Jain |
Ajit B. Jain |
Vice Chairman and |
Joint Managing |
Managing Director |
Director |
| Date: July 14, 2026 |
Date: July 14, 2026 |
| Place: Jalgaon |
Place: Jalgaon |
|