Jain Irrigation Systems

Infobox_Company
company_name = Jain Irrigation Systems Ltd
company_
company_type = Public (Bombay Stock Exchange- BSE Scrip ID: JAINIRRIG and National Stock Exchange of India Symbol: JISLJALEQS)
foundation = Jalgaon, Maharashtra, India (1989)
location =
key_people = Bhavarlal H. Jain, Founder Chairman
Ashok B. Jain, Vice Chairman
Anil B. Jain, — Chief Executive Officer
Ajit B. Jain, Chief Operating Officer,
Atul B. Jain, Director Marketing,
Anirudha Barve, Director and Chairman of the Audit Committee etc.
industry = Agriculture
Irrigation
Pipe
Solar energy
mission = "Leave this world better than you found it"
turnover = Rs.85,890 Lakh
num_employees = more than 5,000 (2007)
homepage = [http://www.jains.com/ www.jains.com]

Jain Irrigation Systems (often known as Jain Irrigation, JISL, or simply Jains) is a multinational organization based in Jalgaon, Maharashtra, India. JISL employs over 5,000 workers and manufactures a number of products, including drip and sprinkler irrigation systems and components, PVC, PE piping systems, plastic sheeting, greenhouses, bio-fertilizers, solar water-heating systems, and photovoltaic appliances. JISL also processes dehydrated, concentrated, and frozen fruits and vegetables. It is listed on the Bombay Stock Exchange as JAINIRRIG and on the National Stock Exchange of India as JISLJALEQS.

Mergers and acquisitions

Jain Irrigation Systems Ltd. emerged as one big company after merging with various Jain Group Companies, such as Jain Plastic & Chemicals Ltd., Jain Kemira Fertilizers Ltd., Jain Rahan Biotech Ltd, Jain Brothers Industries, and Jain Pipe.cite web | url=http://economictimes.indiatimes.com/cmphist.cms?ticker=jaon&exchange=b | title=Jain Group companies amalgamated with the JISL | accessdate=2006-05-02]

JISL then acquired Tera Agro Technologies and the mango-processing division of Parle-Bisleri Pvt. Ltd., both located in India. After this and similar other acquisitions, JISL became the largest processor of fruits & vegetables within India and the biggest mango pulp processor in the organized sector of the world.

* 2006 : JISL acquired Chapin Watermatic,cite web | url=http://www.newaginternational.com/news/news108/news108.html | title=Jain irrigation acquired USA Base Chapin Watermatic | accessdate=2006-05-02] US pioneer in irrigation systems.
* 2006 : JISL acquired NuCedar Mills, a US company in the custom homebuilding market.cite web | url=http://www.capitalmarket.com/CMEdit/story2-0.asp?SNo=116382 | title=US acquisition bolsters Jain Irrigation | accessdate=2006-02-07]

* December 2006 - JISL acquired a majority stake in the US-based Cascade Specialties, Inc., which specializes in natural low-bacteria onion products and organic dehydrated onion. With this acquisition, Jain Irrigation became the third-largest dehydrated onion producer in the world, with a combined capacity in excess of 25,000 MTS.cite web | url=http://www.domain-b.com/management/m_a/20061120_acquires.html | title=Jain Irrigation acquired Cascade Specialties, Inc, USA | accessdate=2006-11-20]

* February 2007 - By acquiring the US-based Aquarius Brands for $21.5 million in an all-cash deal, Jain Irrigation will become the second-largest drip irrigation company in the world.cite web | url=http://www.business-standard.com/common/storypage.php?leftnm=lmnu5&subLeft=3&autono=274828&tab=r | title=By acquiring Aquarius will second-largest drip irrigation company in the world. | accessdate=2007-02-17]

* June 2007 - Jain Irrigation Acquired 50.001% stake in NAANDAN.cite web | url=http://www.naan.co.il/e/Home/Indian_conglomerate_Jain_Irrigation_acquired_50__of_NaanDan.htm | title=Indian conglomerate Jain Irrigation acquired 50% of NaanDan | accessdate=2007-06-25] Following the transaction, which includes a US$30 million investment, NaanDan and Jain intend to become within the next few years the largest irrigation company worldwide.

History and growth

Early history

*1887-1963: Jain Irrigation's roots in the fields of agriculture, water, and food started in 1887 when its founder's forefathers left the deserts of Rajasthan, their home state, in search of water and food and reached Wakod, at the foothills of the Ajanta Caves. They started farming as a means of livelihood.cite web | url=http://www.jains.com/Company/history.htm | title=History of Jain irrigation | accessdate=2007-01-15]

In 1963, selling kerosene from a pushcart, the young law graduate Bhavarlal Jain, founded the family business in trading. The family formed a partnership with a meager Rs. 7,000, the accumulated savings of three generations, as capital. Soon, agencies for two wheelers, auto vehicles, and automobile accessories were established.

*1963-1978: Inspired by a quote, "Agriculture: a profession with future" young Bhavarlal Jain added a dealership of tractors, sprinkler systems, PVC pipes, and other farm equipment. In order to broad-base the business, agencies for farm inputs such as fertilizers, seeds, and pesticides were also added. Sales grew from Rs. 1 million in 1963 to Rs. 110 million in 1978, a phenomenal increase. These formative years helped Jain build a unique and lasting enterprise. This was achieved through consistent high standards of performance and personal behavior on the one hand and a strong sense of commitment for meeting targeted volumes and for timely payment of debts, on the other. Dealing with national and international principals was a contributing factor towards building these attitudes. In time, Jain came to be recognized as a reputable, trustworthy and prestigious house. This background augured well for an entry into industrial ventures.

*1978: Jain took over a 14-year-old sick banana powder plant in April 1978 at a high auction price of Rs. 3 million while only Rs. 0.2 million as inevitable surplus. The plant was quickly modified for the production of papain from papaya latex. In December 1978, the founder traveled to New York in search of customers for Jain papain. The competition for purchase of raw materials at home and for sale of papain abroad was stiff and stifling. However, Jain developed purified papain through ceaseless in-house R&D and emerged as the number-one supplier of the highest purity refined papain. Thus papain put Jain on the international map.

*1980: Manufacturing of PVC Pipe commenced with a small annual capacity of 300 MTs which was increased to over 35,600 MTs per annum by 1997. This made Jain the largest single producer of PVC pipe in India. A close-knit dealer distribution network in the rural areas, coupled with continuous automation and up gradation of product facilities and in-house R&D for maximum capacity utilization has kept Jain at the forefront. This further helped Jain to expand the range to casing & screen piping systems, thereby continuing to contribute to the growing export volumes.

Growth (1989 - )

*1989: Beginning in 1989, Jain Irrigation struggled to pioneer water management through micro-irrigation in India. Jain Irrigation has successfully introduced some high-tech concepts to Indian agriculture, such as the integrated system approach, one-stop-shops for farmers, and infrastructure status to micro-irrigation & farm as industry.

*1994: Jain diversified into food processing and set up world-class facilities vegetable dehydration and the production of fruit purees, concentrates, and pulp. Currently this facility is adopting ISO 9001 & HACCP certified and international FDA statute requirements. This facility will help combine the modern technologies of the west with the vast, mostly untapped agriculture resources of India, using local human resources.

*2002 - : After being caught between severe liquidity crunch, making lot of loss and mounting pressure from the banks and financial institutions to immediately clear overdue liabilities, Jain Irrigation Systems Ltd. (JISL) has decided to raise funds by way of offering majority equity holding in the company in favour of Aqua International Partners LP.cite web | url=http://www.thehindubusinessline.com/2002/05/25/stories/2002052501900400.htm | title= US fund to acquire 49.4% in Jain Irrigation Systems | accessdate=2007-01-16] JISL is out from a bad financial patch of 4 years and start growing rapidly. Its net profit has more than doubled from Rs 32.4 crore in fiscal 2004-05 to Rs 67.17 crore in fiscal 2005-06. Exports have contributed Rs 289 crore to Jain's overall revenue.cite web | url=http://www.thehindubusinessline.com/2006/06/30/stories/2006063002810300.htm | title= Jain Irrigation net profit doubles | accessdate=2007-01-16] .

*2005 - : Jain produced individually quick-frozen (IQF) food products like frozen mango slices in agreement with the Taiyo Kagaku Company Ltd, Japan.

*2006 - : Jain continued acquiring companies to expand its business penetration. After acquisitions it is became second-largest irrigation company and third-largest dehydrated onion producer in the world. It is also largest processor of fruits & vegetables within India.

Corporate rankings

* Jain Irrigation Systems Ltd (JISL) in 2005 ranked 100th on the list of conglomerates in Maharashtra.

* JISL was listed 185th in the FE-500 ranking of 2005 by India Business Insight via Thomson Dialog NewsEdge.cite web | url=http://www.tmcnet.com/usubmit/2006/02/15/1374614.htm | title=Jain Irrigation Systems Ltd (JISL) ranks 185th in the FE-500 ranking of 2005 | accessdate=2007-01-15]

* Standard & Poor's identifies Jain Irrigation Systems Ltd. among list of 300 world-beaters.cite web | url=http://www.business-standard.com/common/storypage_c_online.php?leftnm=11&bKey
| title=Jain Irrigation Systems Ltd. among S&P’s list of world-beaters | accessdate=2007-05-12]

The Crawford Reid Memorial Award instituted by the US-based Irrigation Association was given to B.H. Jain, founder and chairman, for “Significant Contribution to the Irrigation Industry outside the United States.”

References

External links

* http://www.jains.com - Official website
* [http://economictimes.indiatimes.com/cmphist.cms?ticker=jaon&exchange=b Economic Times entry on JISL]