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Jain Irrigation Systems Ltd. Company History and Annual Growth Details

1986 - The Company was incorporated on 30th December, and the
Certificate of Commencement of Business was obtained on 12th
January 1987. It was promoted by Bhavarlal Hiralal Jain and the
Companies belonging to the Jain Group. The Main Objective of
the Company is to manufacture Micro Irrigation Systems
encompassing irrigation through, strip-tubing, emitters, jets and
mini sprinklers.

- The Company entered into a technical collaboration agreement with
James Hardie Irrigation (Italy) SRL, the Worlds' largest
manufacturers of drip irrigation products.

- The Company undertook to set up a project for the manufacture of;

- (i) 3,600 tonnes per annum of bi-wall;

- (ii) 480 tonnes per annum of filters and filtration equipment and

- (iii) 20 tonnes per annum of controllers, control valves, etc.

- The Company rented a factory shed in the premises of Jain
Plastics and Chemicals (Pvt.) Ltd., Jalgaon.

1988 - 70 No. of Equity shares subscribed for by the signatories to
Memorandum. 29,09,930 No. of equity shares issued at par of
which 17,99,930 shares reserved and allotted to the promoters,
directors, etc.

- Out of the balance 11,10,000 No. of equity shares; 1,45,500
shares offered on preferential basis to the employees (incl.
working directors)/workers of the Company and those of promoter
company (only 28,800 shares taken up).

- The remaining 9,64,500 shares together with the unsubscribed
1,16,700 shares of the employees' quota offered for subscription
to the Indian Public in October 1988. 1,08,120 additional shares
allotted to the public to retain oversubscription.

1989 - During the year, the Company developed its R & D farm at Mohadi,
(Jalgaon Dist.), which was being used as a demonstration plot
for promotion of the concept of micro irrigation systems.

1991 - The Company undertook an expansion programme. The installed
capacity of its domestic division which caters to 50,000 acres
per annum was being increased to 1,32,000 acres per annum. The
installed capacity of PVC foam/rigid sheets of 100% E.O.
Division (EOD) was being increased from 1,800 tpa to 4,200 tpa.
The Company was also setting up a new facility in its 100% EOD
for the manufacture of 3,200 tpa of polycarbonate sheets.

1992 - During March/April the Company issued 30,18,120 - 14% secured
redeemable partly convertible debentures of Rs. 150 each on
rights basis in the proportion of 1 debenture: 1 equity share
held. Additional 4,52,718 debentures were allotted to retain

- Another 1,50,906 - 14% secured redeemable partly convertible
debentures of Rs. 150 each were offered to the employees. Only
72,450 debentures were taken up by financial institutions/Mutual

- Part 'A' of Rs. 80 of each debenture will be converted into two
equity shares of Rs. 10 each at a premium of Rs. 30 per share on
the expiry of six months from the date of allotment of the
debentures. Part 'B' of instalments at the end of 6th, 7th and
8th years from the date of allotment of the debentures.

- 72,43,488 No. of equity shares allotted as part conversion of 14%
Secured Partly Convertible Debentures. 26,96,600 No. of equity
shares underlying EDRs issued at a premium of Rs. 200 per share.

1993 - The Company finalised a MOU with Azrom Metal Industries Ltd., of
Israel for manufacture of green houses and plant propagation
tunnels near village Mohadi in Jalgaon district.

- The Company entered into a technical collaboration agreement with
Amcor Ltd., Israel for manufacture of Solar Water heating systems
at Jalgaon.

- The Company entered into a technical licence agreement with
Chapin Wtermatics Inc USA to manufacture twin wall tubing
(canewall) at the existing site in Jalgaon.

- The Company proposed to diversify its existing range of plastic
sheets by addition of corrugated polycarbonate sheets and higher
width polycarbonate sheets in multiwall category.

- To utilise the existing plant & machinery during slack season,
the Company commenced manufacture of high density polyethlene

- The Company co-promoted a joint venture with Kemira OY, Finland
as equal partners to manufacture water soluble fertilizers for
the first time India. The project is to be implemented by a
separate joint venture. 'Jain Kemira Fertilisers Ltd'.

- The Company is co-promoting a venture with Rahan Meristem of
Israel to produce tissue cultured plants. A pilot scale tissue
culture lab to enlarge the size of operations through a joint
venture company.

1994 - The Company hitherto entered into the untapped area of large
scale commercial farming by implementing MIS in Corporate
agriculture projects.

- The Company undertook implementation of a 100% export oriented
unit with separate factory at Bambhori for the manufacture of
polytubes and mouled public components.

- The Company received approval from the Government of India for
establishing a 100% owned trading and investment subsidiary in

- During the year, the Company signed a MOU with a South African
Company for manufacture and marketing of their newly invented
sprinklers. While the manufacturing for world wide market would
be done in India by the Company, marketing abroad would be
carried at by the overseas joint venture.

- During March the Company issued 26,96,000 equity shares
underlying its 26,96,600 EDRs of US $11.125 each.

- During March the Company issued 17,386 non-Convertible debentures
with 17,38,600 detachable warrants to promoters as preferential
allotment basis. These warrants are convertible into one equity
shares of Rs. 10 each for cash at a premium of Rs. 200 per share.

- The Company has been awarded for its various products Top
Exporters Award by Plastic and Linoleum Export Promotion Council
(PLEXCONCIL) for the year 1991-92 and 1992-93.

- The Company is also moving towards achiving ISO-9001
certification for its Plastic Sheet Dvision.

1995 - The Company proposed to take over assets from the joint venture
company at book value and continue the business on a division of
the company.

- 9,40,000 Preference shares issued to Various subscribers on a
private placement basis.

- The Company has also signed a MOU with a South African Company
for manufacture and marketing of their newly invented Sprinklers.

- The Company has finalised a strategic joint venture with General
Electric Company (GE) to set-up a plant for manufacture and
marketing of a wide range of polycarbonate sheets to take
advantage of European and U.S. market potential.

- The Company has signed a MOU with a U.S. multinational for
setting up a joint venture for manufacture of Blown & Cast
Plastic Films.

1996 - The Company has won National Export Award for the year 1994-95
and also won the CEU Award for the year 1993-94.

- During Jain Plastics & Chemicals Ltd., Jain Kemira Fertilizers
Ltd. and Jain Rahan Biotech Ltd. were amalgamated with the

- However margins suffered a severe beating with bottomline going
into red.

- The Company decided to focus on the core business areas of
Agriculture and Plastic. It has decided to go for a phased
divestment from all its non-core business to improve cash flows
and allow management to focus on core activities.

- 525,000 pref shares issued and 200,000 preference shares redeemed
during the year.

1997 - 71,97,854 No. of equity shares allotted to erstwhile Sain
Plastics & Chemicals Ltd. on its amalgamation with the Co.
88,028 No. of equity shares allotted to Sain Kemira Fertilisers
Ltd. and another 67 No. of equity shares allotted to Jain Rahian
Boitech Ltd. on amalgamation with the Co.

- The company has a technical collaboration with RIS of Italy for
drip irrigation systems and with Chapin Watermatios of US for
multi-chambered drip irrigation.

- 72,85,952 No. of equity shares allotted as per the scheme of amalgamation.

2000 - The Company has proposed that the existing paid up equity capital
be reduced to half subject to necessary approvals. In the first
phase the value of equity shares of Rs. 10/- will be reduced to
Rs. 5/- and then in the second phase Rs. 5/- paid up shares shall
be consolidated into Rs. 10/- paid up shares.

- The Company issued on preferential basis 1,31,00,000 Unsecured (Zero
Coupon) optionally fully convertible debentures of Rs 10 each aggregating
Rs 1,310 lakh in lieu of conversion of outstanding secured/unsecured loans
to the secured/unsecured lenders represented by Financial Institutions and
Banks under the restructuring scheme.

- 1,80,00,000 Unsecured (Zero Coupon) optionally fully convertible debenture of
Rs 10 each aggregating Rs 1,800 lakh to the 'Promoters Group' represented by
Mr. B.H. Jain, as part of the restructuring scheme.

- Trading in the equity shares of Jain Irrigation Systems Ltd would be suspended
with effect from 20th December on account of reduction of equity share capital by
50 per cent.

-Jain Irrigation Systems Ltd informs that the Board of Directors accep the resignations of
Shri A S Ajgaonkar, Director- Corporate Affairs & Shri J J Kulkarni Director - Product Development as Director(s) of the Company. It also decides to keep casual vacancies created, vacant for the time being. Dr P V Sane expresses his inability to attend the meetings for a period of 6 months as he is travelling out of India from April 03, 2002. He, therefore, has appointed Shri A S Ajgaonkar as an alternate to him to vote and to attend meetings of Board etc. in the next 6 months.


-The Board approves to make preferential allotment upto Rs.460 million of equity shares of
Rs.10 each.

-JISL adopts micro-irrigation.

-Wins 10 awards as Top Exporters in the Plastics and Linoleum Exports Council.

-Change in the address to Jain Irrigation Park, N H No. 6, Bhambori, Jalgaon- 425001.

-Jain Irrigation Systems bags 10 awards in PLEX Council

-Company has signed a contract document for Andhra Pradesh Micro Irrigation Project (APMIP).


-Aqua India I Limited and Aqua India II Limited acquire of 19,87,281 Equity Shares of the Company by allotment on Preferential basis on December 26, 2003, stake of Aqua India I Ltd. increases to 22,623,659 shares amounting to 43.20 % of the total paid up capital of the company and stake of Aqua India II Ltd. increases to 1,019,456 shares amounting to 1.95% of the total paid up capital of the company

-Jain Irrigation Systems Ltd has informed that the Committee of Board constituted on December 16, 2003 as on January 19, 2004 allotted 6,30,500 equity shares of Rs. 10/- each at a price of Rs. 83/- to the Promoter Group individuals represented by Shri B.H. Jain, under the authority of the shareholder's resolution dated November 17, 2003.

-Signs a Memorandum of Understanding (MoU) with State Bank of India (SBI) under which the bank will provide term loans to farmers for purchasing capital inputs from Jain Irrigation Systems Ltd (JISL)

-Delists shares from following stock exchanges
Madras Stock Exchange Ltd
Pune Stock Exchange Ltd
Delhi Stock Exchange Association Ltd
Stock Exchange Ahmedabad
alcutta Stock Exchange Association Ltd

-Jain Irrigation Systems Ltd has informed that its Drip Irrigation Division has bagged a Rs 380 million turn-key export order for a project in an African Country

-Jain Irrigation enters into agreement with Taiyo Kagaku, Japan for production of IQF

-Jain Irrigation acquires strategic stake in 'Terra'

-Jain Irrigation gets 3 GOI Plexcouncil Export Awards

-Jain Irrigation secures EIMA Technical Innovation 2005 Award


-Jain Irrigation acquires Watertech for $6 mn

-Jain Irrigation inks agreement to buy stake in Greek co

-Jain Irrigation acquires Mango Processing Business from Parle Bisleri, Mumbai

-Jain Irrigation acquires strategic stake in Eurodrip


-Jain Irrigation Systems Ltd has appointed Shri. D R Mehta as an Independent Director in casual vacancy created on November 04, 2005.

-Jain Irrigation to acquire 50.001% stake in NAANDAN


-Jain Irrigation acquires controlling stake in Switzerland based Thomas Machines S.A

-Jain Irrigation Gets Four GOI Plexcouncil Export Awards

-Jain Irrigation signs MoU with Mekorot (National Water Company of Israel) - for working together in India in projects related to water infrastructure

-JISL & Govt. of Maharashtra Sign MoU Rs. 550 crores investment in two mega projects

-Jain Irrigation Systems Ltd wins D&B - ECGC Indian Exporters Excellence Awards


- Jain Irrigation Systems Ltd has has appointed:
1. Mr. Atul Bhavarlal Jain as Director-Marketing (Whole Time Director) of the Company w.e.f. September 01, 2009.
2. Mr. Ghanshyam Dass as Director (Independent, Non-Executive) with immediate effect.

-Jain Irrigation bags two prestigious PlastIndia 2009 Awards

-Jain Irrigation bags Rs. 778 million World Bank Order

-Jain Irrigation inks MoU with International Rice Research Institute (IRRI) for collaborative research and adaptive field trials on paddy using micro irrigation
Oct 21, 12:00 am
Oct 21, 4:14 pm
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