Jubilant Ingrevia Ltd (JUBLINGREA) Q2 FY27 Results Analysis: PAT Jumps 60%, Margin Expands 283 bps

Cofacto Research Published October 27, 2026 2 min read

Positive

Jubilant Ingrevia Ltd's Q2 FY27 numbers came in strong, with revenue of Rs. 1,394.23 Cr (+24.40% YoY) and PAT growth of +60.40% YoY. Here's a quick read of what worked, what to watch, and what management said.

Quick Details

Results date	October 27, 2026
Quarter	Q2 FY 2026-2027
Revenue (Q2)	Rs. 1,394.23 Cr (+24.40% YoY)
PAT (Q2)	Rs. 111.43 Cr (+60.40% YoY)
EBITDA margin	15.88% (+283 bps YoY)
EPS (Q2)	Rs. 7.07 (+60.68% YoY)
Market cap	Rs. 10,074.64 Cr
CMP	Rs. 632.35

Quarter Snapshot

H1 FY27 EBITDA of Rs.430.71 Cr beat management's 'Rs.400 crore plus' guide, with Q2 revenue up 24.40% YoY, EBITDA margin up 283 bps YoY to 15.88%, and PAT up 60.40% YoY. The Chemical Intermediates turnaround (Rs.51.56 Cr result vs Rs.7.95 Cr YoY) and Nutrition momentum (+49.9% revenue) keep the FY27 Rs.750-800 Cr EBITDA guidance on track. The soft spot is cash quality: CFO/EBITDA of 0.42× on a Rs.203.69 Cr inventory build and finance costs up 85% YoY on a rising short-term borrowing stack.

Key Investment Insights

Key Positives

Consolidated revenue grew 24.40% YoY and 7.23% QoQ to Rs.1,394.23 Cr, a new high with all three segments growing
EBITDA of Rs.221.41 Cr grew 51.39% YoY with margin up 283 bps YoY to 15.88%
PAT grew 60.40% YoY to Rs.111.43 Cr; EPS Rs.7.07 vs Rs.4.40 a year ago
H1 FY27 EBITDA of Rs.430.71 Cr beat management's 'around Rs.400 crore plus' H1 guidance
Chemical Intermediates result of Rs.51.56 Cr vs Rs.7.95 Cr YoY; H1 Rs.95.53 Cr vs ~Rs.100 Cr FY27 guide
Nutrition & Health Solutions revenue +49.9% YoY, result +88.6% YoY, margin 11.58% vs 9.21% a year ago
Net debt/annualized H1 EBITDA improved to 0.79× from ~0.97× at FY26
H1 CFO of Rs.181.35 Cr vs Rs.97.08 Cr in H1 FY26

Risk Factors

CFO/EBITDA of 0.42× in H1 FY27 with FCF of only Rs.20.37 Cr due to a Rs.203.69 Cr inventory build and Rs.124.95 Cr receivables increase
Finance costs rose 85% YoY to Rs.22.50 Cr as current borrowings rose to Rs.638.82 Cr from Rs.458.88 Cr at March 2026
Speciality Chemicals PBIT margin eased to 16.18% from 17.13% QoQ and 18.75% YoY as revenue growth outpaced result growth
Standalone revenue declined 2.13% QoQ while consolidated revenue rose 7.23%, with sequential growth coming via the subsidiary layer and first-time Remidex consolidation
Management's flagged B3 price-decline risk acting on a Rs.1,083.65 Cr inventory stock remains live