Shares of Jain Irrigation Systems jumped 5% after the company announced a ₹117.96 crore empanelment with Maharashtra State Electricity Distribution Company for 5,000 solar pumps. The stock closed at ₹30.31, up 4.27% on Thursday.
The contract covers 5,000 off‑grid DC photovoltaic water pumping systems—3 HP, 5 HP and 7.5 HP units—under the Magel Tyala Saur Krushi Pump Yojana. Jain is required to design, manufacture, supply, transport, install, test and commission the systems within 60 days, per the filing with the stock exchange.
In June, the company commissioned an industrial‑scale biochar facility at Jalgaon, Maharashtra. The plant can process around 20,000 tonnes of agricultural and fruit‑processing residue annually, roughly 50 tonnes a day, and is positioned as a commercial‑scale carbon‑removal asset.
Q1 FY27 results showed revenue of ₹1,508 crore, down 17.3% quarter‑on‑quarter and 2.41% year‑on‑year. Gross profit fell to ₹90 crore, a 45.39% sequential decline and 32.39% lower YoY. The company posted a net loss of ₹18 crore for the quarter.
Investors now await Jain’s Q2 FY27 earnings, due in late September, to assess how the new contract and biochar operations will influence profitability and whether the company can reverse its recent loss trajectory.