Revised Investor Presentation of Q2 & H1 FY26.
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Jyoti Resins & Adhesives (Euro 7000 brand) reported Q2 FY26 revenue of Rs 74.4 cr, up 14% YoY, with volume growth of 20%. Operating EBITDA stood at Rs 20.5 cr, growing only 5.5% YoY as EBITDA margin slipped 221 bps to 27.5%, which the company attributes to higher advertising spends (TV, digital, trade marketing) and plant maintenance. Net profit was Rs 17.2 cr, up 5.3% YoY with PAT margin at 23.1%. H1 FY26 revenue grew 11.2% to Rs 149.5 cr but EBITDA declined 4% as margins contracted 436 bps. Operating cash flow (reconciled) was Rs 205.6 mn. The company highlighted capacity of 2,000 TPM with brownfield expansion plans, a 3-year revenue target of Rs 500 cr, and Pankaj Tripathi as its new brand ambassador.
Margins are under pressure due to elevated brand-building and maintenance spends, which may weigh on near-term profitability. However, the company remains debt-free with strong return ratios and a clear multi-year growth roadmap, which is positive for long-term investors. The slight QoQ consistency in margins suggests the bottom may be stabilising.