Earnings Presentation for Q4 FY26
JGCHEM · price
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J.G. Chemicals, India's largest Zinc Oxide manufacturer and zinc recycling company, reported record FY26 performance with highest-ever annual revenue of INR 9,729 Mn (up 14.7% YoY), EBITDA of INR 978 Mn (up 1.8% YoY), and PAT of INR 686 Mn (up 2.7% YoY). Q4 FY26 showed strong revenue growth of 27.6% YoY to INR 2,862 Mn, though EBITDA margin compressed to 9.36% (down 89 bps) and PAT margin to 6.60% (down 49 bps) due to higher energy, logistics, and procurement costs. The company has implemented pricing actions effective April 1, 2026 to pass on increased costs to customers. Key growth initiatives include the Dahej greenfield project (40,000 MTPA capacity, INR 900 crore revenue potential, targeting H1-FY27 commissioning) and a recycled rubber project currently in pilot trials with positive customer feedback. The company serves 9 of the top 10 global tyre manufacturers and 11 Indian tyre manufacturers.
Strong revenue growth driven by volume expansion and demand momentum, but margin compression due to cost pressures. New pricing actions from April 2026 should help protect margins going into FY27. The Dahej expansion and recycled rubber project represent significant future growth drivers.