Anil Jain, managing director, Jain Irrigation Systems, says the MIS business should register a 12-18% revenue growth this fiscal year. The MIS business revenue declined 1.7% from a year earlier and accounted for 45% of consolidated revenue in FY16. The poor rainfall last year took a toll on the company’s micro-irrigation systems (MIS) business in fiscal 2016. Notably, Jain Irrigation shares have risen by around 37% from its lows in mid-February. Jain Irrigation shares trade at about 14 times this year’s estimated earnings.

Source: Mint June 12, 2016 20:15 UTC