A poor show in the December quarter and confusion over its proposed foray into unrelated business has led to a fall in Jain Irrigation's share price during the last three months. However, the worries appear overdone. The company's growth slowed down in the December 2010 quarter due to extended monsoons in various parts of the country. The sales of its irrigation products are expected to resume a normal growth trajectory in the March 2011 quarter. Its plans for preferential equity allotment and setting up a non-banking finance company (NBFC) are expected to lower its debt burden. With a vast untapped market for the micro-irrigation within India, the company's future appears bright.
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