Jain Irrigation Systems rallied 5.75% to Rs 70.58 after the company signed memorandum of association of Coffee Board of India for the commercial release of high quality, disease-resistant coffee plants to growers.
It is the first company in the world to have successfully developed a Tissue Culture protocol for coffee varieties
The company announced seven high yielding tissue culture varieties of Robustas and Arabicas coffee, developed with a commitment to quality and innovation by its scientists in the Biotech department. These varieties have been licensed to the company by the Coffee Board of India, approved for commercial production and sale.
The company said that Jain Tissue cultured coffee plants are Elite Mother Plants, meticulously developed for their high yield, excellent cup quality, and well-balanced canopy architecture. They are disease-free, robust, and genetically uniform. These Coffee plants perform optimally when integrated into Jain Precision Farming Packages, ensuring efficient and sustainable coffee cultivation. We welcome contract propagation in bulk quantities from institutions, planter associations, and individual coffee estate owners, further expanding the reach of our innovative coffee farming solutions.
Ajit Jain, managing director, Jain Irrigation, said, We are extremely proud to introduce to the world an elite coffee- a disease free, genetically uniform and high yielding variety bringing prosperity to Indian coffee farmers and putting Indian coffee on the global map.
Coffee Board Secretary and CEO, KG Jagadeesha said, For the first time in the world, we have standardised the tissue culture technology for coffee in India. The coffee plants multiplied using the tissue culture protocols have been evaluated on the fields for the past few years. They are performing much better than the regular varieties. As part of the MoU, Jain Irrigation will multiply and sell the identified coffee plants to growers directly while paying a royalty to the Board.
Jain Irrigation Systems is engaged in manufacture of plastic products, and manufacture of fruit or vegetable juices, their concentrates squashes and powder. Its segments include hi-tech agri input products, industrial products and non-conventional energy.
The companys consolidated net profit declined 61.6% to Rs 13.59 crore in Q1 FY25 as comapred with Rs 35.43 crore in Q1 FY24. Net sales fell 13.1% to Rs 1477.86 crore in Q1 FY25.
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First Published: Aug 23 2024 | 9:57 AM IST
