Jain Irrigation - Gets Mango Pulp Order

Jain Irrigation Secures Rs 84 Crore Mango Pulp Order

Jain Irrigation Systems Ltd has announced that the Company has bagged the largest order for Rs 84 crores from Hindustan Coca Cola Company for supply of mango pulp. Compared to the order of Rs 33 crores last year, this is a quantum jump. Coke bottles Mango drink in India under the most popular brand name of Maaza.

The Mango pulp business is expected to exceed a turnover of Rs 160 crores this year based on additional export orders in hand. Entire order will be processed in the current mango season. The Fruit & Vegetable Processing Division is expected to register more than 50% growth in the current financial year.

The Company has five plants for fruits & vegetables in the vegetable processing in India and one in USA. The Company is expecting to process in excess of 75000 MTs of mangoes in the current season registering 60% growth in amount of quantity processed. The Company is a major supplier to many MNCs and to global leading beverage & food brands. The Company has emerged as the largest processor of fruits & vegetables from India.

The Company will continue to invest to expand product range and to strengthen backward linkage with farmers so as to become major supplier of frozen, aseptic and dehydrated fruit & vegetable products.

India is the largest producer of mangoes in the world with a share of more than 55% of the world production. India is also the producer of the most delicious mangoes such as Alphonso, Kesar, Dasheri, Totapuri, Chusa, etc. There is Large potential for fresh mangoes as welt as processed mango juice as consumers are preferring healthy drinks over other types of drinks. Fruit juice and fruit drink market in India is growing above 30% every year.

The Company is a diversified company with more than 5,000 employees worldwide and market capitalization in excess of INR 3.00 bn and a product portfolio encompassing Irrigation Products, Piping Products, Plastic Sheets, Dehydrated Foods, Fruit Puree, Pulp & Juices in India and other world markets. The Company has been named as one of the eight Indian Companies expected to emerge as challengers to the World Leading Companies by Standard & Poor's recently in May 2007.

Source : Bombay Stock Exchange