Earnings Review
Sharp rise in cost drags Jubilant Ingrevia PAT below view
This story was originally published at 15:58 IST on 22 July 2026
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--Jubilant Ingrevia Apr-Jun consol net profit INR 1.06 bln
--Analysts saw Jubilant Ingrevia Apr-Jun consol net profit INR 1.27 bln
--Jubilant Ingrevia Apr-Jun consol revenue INR 13.0 bln
--Analysts saw Jubilant Ingrevia Apr-Jun consol revenue INR 11.87 bln
--Jubilant Ingrevia Apr-Jun consol PAT INR 1.06 bln vs INR 751.0 mln yr ago
--Jubilant Ingrevia Q1 consol revenue INR 13.00 bln vs INR 10.38 bln yr ago
--Jubilant Ingrevia Q1 speciality chem sales INR 6.37 bln vs INR 5.37 bln
--Jubilant Ingrevia Q1 chem intermediates sales INR 5.25 bln vs INR 3.82 bln
--Jubilant Ingrevia Q1 chem intermediates sales INR 5.25 bln vs INR 3.82 bln
--Jubilant Ingrevia Q1 nutrition ops sales INR 2.44 bln vs INR 1.79 bln
--Jubilant Ingrevia Q1 consol operating margin 11.39% vs 9.76% year ago
--Jubilant Ingrevia Q1 consol EBITDA INR 2.09 bln vs INR 1.53 bln yr ago
--Jubilant Ingrevia Q1 consol EBITDA margin 16% vs 15% year ago
--Jubilant Ingrevia:Expect sequential rise in sales, EBITDA over coming qtrs
By Durgesh Nandan
MUMBAI – Jubilant Ingrevia Ltd. reported a higher-than-expected rise in its consolidated sales for the June quarter, with all of its segments reporting an increase in revenue. However, despite a robust increase in the speciality chemicals maker's net profit, its bottom line for the reporting quarter missed Street expectations as costs of materials spiked, pushing total expenses sharply higher.
The company reported a consolidated net profit of INR 1.06 billion for the June quarter, up nearly 41% on year and nearly over 22% on quarter. However, it missed the INR-1.27-billion consensus view for its net profit. The company's revenue rose over 25% on year and over 10% on quarter to INR 13.0 billion, ahead of Street estimates, which had projected a figure of INR 11.87 billion. Of which, revenue from operations rose more than 25% to INR 12.89 billion for the reporting quarter and its other operating income was INR 115.4 million, up over 36% on year.
Segment wise, the company generated speciality chemicals revenue of INR 6.37 billion, up nearly 19% on year. The nutrition and health solutions segment grew 36% year-on-year to INR 2.44 billion. Revenue from chemical intermediates rose over 34% to INR 5.25 billion.
A significant rise in the cost of materials consumed raised the total expenditure of Jubilant Ingrevia's for the June quarter. Its total expenses rose over 23% on year and nearly 9% sequentially to INR 11.70 billion. The cost of materials consumed was INR 7.18 billion, up nearly 60% on year and over 20% on quarter. Employee benefit expenses rose more than 8% on year to INR 1.17 billion. However, a negative swing of INR 1.53 billion in the costs related to change in inventories of finished goods, stock-in-trade and work-in-progress supported profitability.
Jubilant Ingrevia's consolidated operating margin was 11.39% for the June quarter, up from 9.76% in the year-ago quarter. Its net profit margin was 8.07%, up from 7.16% on year. On a standalone basis, Jubilnat Ingrevia's bottom line more than doubled on year to INR 1.26 billion and its top line rose nearly 29% on year to INR 12.53 billion.
At 1340 IST. the shares of the company traded 2.4% lower at INR 744.85 on The National Stock Exchange.
In the June quarter, the chemical maker reported its highest revenue and earnings before interest, tax, depreciation, and amortisation in 15 quarters, according to the company's investor presentation. The company's consolidated EBITDA was INR 2.09 billion, up 36% year-on-year. The company's EBITDA margin inched to 16% from 15% in the year-ago quarter.
The demand across chemical industry remained firm despite the West Asia war, the company said. Growth in pharmaceuticals remains the key driver for the Company, supported by strong volume growth and sustained demand across markets. Demand across the agrochemicals, nutrition and personal care market and semicon segments reported healthy sales in the June quarter.
"For FY2027, we expect growth to be led by speciality chemicals and nutrition, alongside a recovery in acetyls," the company's management said. "We anticipate sequential improvement in revenue and EBITDA over the coming quarters. The new Multi-Purpose Plant remains on track for commissioning by the end of the current calendar year, further strengthening our CDMO (contract development and manufacturing organisation) and Fine Chemicals' growth roadmap."
Wednesday, shares of the company closed 2.6% lower at INR 743.75 apiece, on the National Stock Exchange.
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
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