Financial Performance Overview

Jubilant Ingrevia Limited reported its financial results for the quarter (Q4) and financial year (FY) ended March 31, 2026.

Quarterly Performance (Q4 FY26 vs Q4 FY25):

  • Total Revenue: ₹1,179 crore, up 12% YoY (Q4 FY25: ₹1,051 crore)
  • Total EBITDA: ₹172 crore, up 11% YoY (Q4 FY25: ₹155 crore)
  • EBITDA Margin: 15% (Q4 FY25: 15%)
  • PAT after Exceptional Items: ₹86 crore, up 17% YoY (Q4 FY25: ₹74 crore)
  • PAT Margin: 7% (Q4 FY25: 7%)
  • Basic and Diluted EPS: ₹5.5, up 17% YoY (Q4 FY25: ₹4.7)

Quarterly Performance (Q4 FY26 vs Q3 FY26):

  • Total Revenue: ₹1,179 crore, up 12% QoQ (Q3 FY26: ₹1,051 crore)
  • Total EBITDA: ₹172 crore, up 26% QoQ (Q3 FY26: ₹136 crore)
  • PAT after Exceptional Items: ₹86 crore, up 84% QoQ (Q3 FY26: ₹47 crore)

Annual Performance (FY26 vs FY25):

  • Total Revenue: ₹4,388 crore, up 5% YoY (FY25: ₹4,178 crore)
  • Total EBITDA: ₹607 crore, up 9% YoY (FY25: ₹557 crore)
  • EBITDA Margin: 14% (FY25: 13%)
  • PAT after Exceptional Items: ₹278 crore, up 11% YoY (FY25: ₹251 crore)
  • PAT Margin: 6% (FY25: 6%)
  • Basic and Diluted EPS: ₹18, up 11% YoY (FY25: ₹16)

Segment-wise Performance (Q4 FY26)

Specialty Chemicals:

  • Segment Revenue: ₹516 crore, up 6% YoY and 13% QoQ
  • Segment EBITDA: ₹139 crore, up 8% YoY and 20% QoQ
  • EBITDA Margin: 27% (Q4 FY25: 27%)
  • Contribution to Overall EBITDA: 72%
  • Business driven by volume recovery, strong momentum in Pyridine & Picolines, and higher realizations from CDMO contracts.

Nutrition & Health Solutions:

  • Segment Revenue: ₹230 crore, up 21% YoY and 15% QoQ
  • Segment EBITDA: ₹32 crore, up 9% YoY and 42% QoQ
  • EBITDA Margin: 14% (Q4 FY25: 16%)
  • Contribution to Overall EBITDA: 17%
  • Growth led by strong volume expansion in Niacinamide (Vitamin B3) and favorable mix improvement in Choline.

Chemical Intermediates:

  • Segment Revenue: ₹433 crore, up 15% YoY and 10% QoQ
  • Segment EBITDA: ₹22 crore, up 111% YoY and 45% QoQ
  • EBITDA Margin: 5% (Q4 FY25: 3%)
  • Contribution to Overall EBITDA: 11%
  • Improvement supported by volume growth, better realizations, and pass-through of increased raw material costs.

Dividend Declaration

The Board of Directors recommended a final dividend of ₹2.50 per share (250%) for FY26. This takes the total dividend for FY26 to ₹5.00 per share (500%).

Operational and Strategic Highlights

  • Successfully handled the Middle East crisis with no force majeure and zero production loss.
  • Completed the acquisition of Remidex Pharma to accelerate growth in the Human Nutrition business.
  • Successfully commenced dispatches from the newly constructed Agro CDMO facility at Bharuch, commissioned in a record 14 months.
  • Achieved lean savings of ₹120+ crore in FY26.
  • Net Debt/EBITDA improved to 0.99x as of March 31, 2026. Net debt reduced by 11% in FY26.
  • Net Working Capital stood at 59 days.
  • Capex cash outflow for Q4 stood at ₹69 crore, primarily for the Bharuch CDMO plant and the new Multi-Purpose Plant (MPP) at Gajraula.

Management Commentary

Chairman Mr. Shyam S Bhartia and Co-Chairman Mr. Hari S Bhartia:

Commented on the healthy performance, highlighting strong execution, effective handling of the Middle East crisis, and the successful Remidex acquisition. They noted that overall chemical industry demand remains resilient despite disruptions, with volumes growing and pricing firming up. The outlook for FY27 is positive, with growth expected to be led by Specialty Chemicals and Nutrition, along with a recovery in Acetyls. Sequential growth in revenue and EBITDA is expected starting from Q1 FY27.

CEO and Managing Director Mr. Deepak Jain:

Provided a business update, noting that Q4 recorded the highest revenue in 14 quarters, driven by 10% volume growth. He highlighted progress across the six pillars of the company's 'Pinnacle' strategy, including strong volume growth, a customer-centric approach with 100+ opportunities (₹3,400 crore potential), operational excellence, leadership strengthening, and strategic acquisitions. Early results include 33%+ EBITDA growth over the last two years and an improving portfolio mix.

Future Outlook

For FY27, the company expects growth to be led by Specialty Chemicals and Nutrition, along with a recovery in Acetyls. Sequential growth in revenue and EBITDA is anticipated in the coming quarters, starting with Q1 FY27. The construction of the Gajraula Multi-Purpose Plant (MPP) is progressing well and is expected to further strengthen the CDMO growth roadmap.

Debt Position (as of March 31, 2026)

  • Long Term Borrowings: ₹446 crore
  • Short Term Borrowings: ₹332 crore
  • Total Gross Debt: ₹777 crore
  • Cash & Equivalents: ₹190 crore
  • Total Net Debt: ₹587 crore

Conference Call Details

A conference call for investors and analysts was scheduled for May 26, 2026. Dial-in numbers and an audio link were provided for participation.

Disclaimer

The document contains forward-looking statements subject to risks and uncertainties. The company assumes no obligation to update these statements.