Jubilant Ingrevia LimitedQuarter Ended 30 September 2026 Results & Financial Update
Jubilant Ingrevia Limited: Quarter Ended 30 September 2026 consolidated results and company financials – revenue ₹1,381.15 Cr, PAT ₹111.43 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Jubilant Ingrevia Quarter Ended 30 September 2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Jubilant Ingrevia delivered a strong financial performance for the second quarter of fiscal 2027, driven by improved realizations, favorable product mix, and stable operational volumes across its core segments.
Consolidated total revenue from operations reached an all-time high of Rs 1,394 crore (total income of Rs 1,403.26 crore), reflecting a 24% year-on-year expansion compared to Rs 1,121 crore in the corresponding quarter of the previous year.
Profitability expanded at a faster pace than top-line growth, with profit after tax (PAT) rising by 60.4% year-on-year to Rs 111.43 crore, compared to Rs 69.47 crore in Q2 FY26, supported by improved pricing in value-added portfolios and disciplined cost management.
Reported EBITDA grew 51% year-on-year to Rs 221 crore (with operating EBITDA standing at Rs 161.58 crore), marking the highest quarterly EBITDA achieved by the company in the last three years and validating the execution of its Pinnacle strategy.
Nutrition & Health Solutions revenue surged 50% year-on-year to Rs 270 crore, with segment EBITDA rising 87% to Rs 39 crore, aided by strong Vitamin B3 volume growth and increased contribution from high-value food and cosmetics grades.
Chemical Intermediates revenue increased 24% year-on-year to Rs 563 crore, while segment EBITDA climbed 226% to Rs 64 crore as improved realizations across products offset higher input costs driven by elevated crude prices.
During the quarter, the company announced an agreement to acquire a 40% strategic stake in ZettaOne Technologies Limited for Rs 189.2 crore to enter the Electronics Development and Manufacturing Services (EDMS) space.
01 · Business model
What does Jubilant Ingrevia do?
Jubilant Ingrevia Limited is a global player in specialty chemicals and custom development and manufacturing (CDMO), serving pharmaceutical, nutrition, agrochemical, consumer, semiconductor, and industrial customers.
The company operates across three business segments: Specialty Chemicals (encompassing Pyridine, Picolines, Fine Chemicals, and CDMO), Nutrition & Health Solutions (animal and human nutrition products including Vitamin B3, Choline, and premixes), and Chemical Intermediates (including Acetic Anhydride and Ethyl Acetate).
Its manufacturing footprint spans over 50 plants across six facilities in India, backed by three R&D centres employing approximately 150 scientists.
The company serves international markets across the US, EU, Japan, Middle East, and South East Asia alongside its domestic customer base in India.
02 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended 30 September 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹1,381.15 Cr | ₹1,109.66 Cr | ₹1,300.27 Cr |
| Total income | ₹1,403.26 Cr | ₹1,131.54 Cr | ₹1,310.49 Cr |
| EBITDA | ₹161.58 Cr | ₹146.25 Cr | ₹149.30 Cr |
| Profit before tax | ₹147.98 Cr | ₹92.86 Cr | ₹140.86 Cr |
| Profit after tax | ₹111.43 Cr | ₹69.47 Cr | ₹105.82 Cr |
| EPS | ₹7.07 | ₹4.40 | ₹6.68 |
| EBITDA margin | 11.58% | 12.92% | 11.39% |
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Overall revenue growth was propelled by stronger realizations across portfolios and a favorable shift towards high-value food and cosmetic grades in nutrition and fine chemicals.
Specialty chemicals revenue expansion was led by broad-based growth across pyridine and diketene derivatives, along with higher innovator CDMO volumes in agro and pharma.
Nutrition segment revenue rose 50% year-on-year, driven by strong double-digit volume growth in Vitamin B3 (Niacinamide) across food and cosmetics applications.
What drove margins
The quarter witnessed higher input and utility costs stemming from elevated crude oil prices, which partially offset the gross margin benefits of improved product pricing.
Specialty Chemicals maintained a robust EBITDA margin of 25%, Nutrition margin stood healthy at 14%, and Chemical Intermediates margin recovered to 11% compared to 4% in Q2 FY26 due to improved product realizations.
Finance costs increased to Rs 22.50 crore from Rs 12.16 crore in Q2 FY25, reflecting higher debt-servicing or working-capital utilization requirements.
04 · Demand, customers & order book
Where demand is coming from
The company reported 25+ confirmed molecules in its CDMO pipeline, expected to drive growth across agro, pharma, and semiconductor end-markets.
Semiconductor and electronics business experienced growing customer inquiries and an expanding application pipeline supported by customer traction from Japan.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Segment revenue reached Rs 563 crore (up 24% YoY) and EBITDA rose to Rs 64 crore. Acetic Anhydride benefited from resilient pharma demand, European market share gains, and double-digit price growth.
Geography and market mix
Exports accounted for approximately 46% of total business during the half year ended September 30, 2026, with Europe representing 24%, North America 9%, and rest of the world (ROW) 14%, while India contributed 54%.
The company reported encouraging customer engagement in pharma across the US and Europe via innovator roadshows, alongside growing semiconductor application inquiries from Japan.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Ongoing pyridine debottlenecking and cost-optimization initiatives are underway, while the new Multi-Purpose Plant remains on schedule for commissioning by the end of the calendar year to strengthen CDMO and fine chemicals capabilities.
Projects, capex and execution
An upcoming R&D and clean-room facility in Greater Noida is being established to support the expanding semiconductor application pipeline.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The ZettaOne acquisition combines Jubilant's scale, customer relationships, and CDMO capabilities with ZettaOne's design, engineering, and manufacturing expertise in electronics and semiconductors.
08 · Reported developments
What changed operationally
Achieved highest-ever quarterly revenue and highest EBITDA in the last 16 quarters, with quarterly EBITDA more than doubling over a three-year period.
Competitor closures in Europe are expected to provide additional pricing power and demand upside for Acetic Anhydride going forward.
09 · Pressure points & risks
What is not going smoothly
The Agrochemicals segment continued to face pricing pressure due to overcapacity originating from China, despite stable volumes.
The nutrition segment experienced some softening in B3 pricing within the animal feed sector during the final weeks of the quarter.
10 · Management guidance & targets
What management is targeting from here
Management remains confident of sustaining growth momentum across all three business segments in FY27, with particular strength expected in Acetyls supported by anticipated plant closures in Europe.
Management expects ZettaOne Technologies to grow by at least 60-70% in FY27 with mid-teen EBITDA margins.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Global Lighthouse Network Recognition
The company highlighted its recognition by the World Economic Forum (WEF) in 2024 for entering the Global Lighthouse Network for deploying 4IR technologies across manufacturing operations.
12 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue grew 6.2% sequentially from Rs 1,300.27 crore in Q1 FY27 to Rs 1,381.15 crore in Q2 FY27, while PAT grew 5.3% from Rs 105.82 crore to Rs 111.43 crore.
13 · Key Q&A
The quarter, answered directly
What does Jubilant Ingrevia do?
Jubilant Ingrevia Limited is a global player in specialty chemicals and custom development and manufacturing (CDMO), serving pharmaceutical, nutrition, agrochemical, consumer, semiconductor, and industrial customers.
What is the clearest takeaway from Quarter Ended 30 September 2026?
Jubilant Ingrevia delivered a strong financial performance for the second quarter of fiscal 2027, driven by improved realizations, favorable product mix, and stable operational volumes across its core segments.
What drove revenue or demand?
Overall revenue growth was propelled by stronger realizations across portfolios and a favorable shift towards high-value food and cosmetic grades in nutrition and fine chemicals.
What mattered most for margins or profitability?
The quarter witnessed higher input and utility costs stemming from elevated crude oil prices, which partially offset the gross margin benefits of improved product pricing.
What changed operationally beyond the headline numbers?
Ongoing pyridine debottlenecking and cost-optimization initiatives are underway, while the new Multi-Purpose Plant remains on schedule for commissioning by the end of the calendar year to strengthen CDMO and fine chemicals capabilities.
What is management guiding or targeting from here?
Management remains confident of sustaining growth momentum across all three business segments in FY27, with particular strength expected in Acetyls supported by anticipated plant closures in Europe.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Multi-Purpose Plant Commissioning: Monitor the commissioning of the new Multi-Purpose Plant by the end of fiscal year 2027 to evaluate its contribution to CDMO and Fine Chemicals growth.
- 02
ZettaOne Acquisition Closure: Track the finalization of the shareholders' agreement and completion of the 40% stake acquisition in ZettaOne Technologies.
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