Sell Jain Irrigation Systems, target Rs 57: Kunal Bothra

Independent analyst Kunal Bothra has a sell call on Jain Irrigation Systems Ltd. with a target price of Rs 57. The current market price of Jain Irrigation Systems Ltd. is Rs 60.75. Time period given by the analyst is Intra Day when Jain Irrigation Systems Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 63. Jain Irrigation Systems Ltd., incorporated in the year 1986, is a midcap company with a market cap of Rs 3015.42 crore.

Jain Irrigation Systems Ltd. key Products/Revenue Segments include Plastic Products which contributed Rs 3829.41 Crore to Sales Value (88.30 % of Total Sales), Other Services which contributed Rs 416.00 Crore to Sales Value (9.59 % of Total Sales), Other Operating Revenue which contributed Rs 90.88 Crore to Sales Value (2.09 % of Total Sales) and Scrap which contributed Rs .12 Crore to Sales Value (0.00 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 31-12-2018, the company has reported a Consolidated sales of Rs 2037.69 Crore, up 7.52 % from last quarter Sales of Rs 1895.11 Crore and up 7.84 % from last year same quarter Sales of Rs 1889.63 Crore Company has reported net profit after tax of Rs 91.11 Crore in latest quarter. The company’s top management includes Dr.H P Singh, Mr.Ajit B Jain, Mr.Anil B Jain, Mr.Ashok B Jain, Mr.Atul B Jain, Mr.Devendra Raj Mehta, Mr.Ghanshyam Dass, Mr.R Swaminathan, Mr.Vasant V Warty, Mrs.Radhika Pereira. Company has Haribhakti & Co. LLP as its auditoRs As on 31-12-2018, the company has a total of 496,366,053 shares outstanding.