Manufactures zinc oxide and zinc sulphate under the LUXMI brand and is India's largest zinc oxide producer as well as its largest zinc recycler, placing it among the global top-5 zinc oxide makers. It sells mainly to tire manufacturers — every major Indian tire maker and 9 of the world's top-10 tire companies are customers — with smaller volumes going into ceramics and pharmaceuticals. Current installed capacity is about 70,000 MTPA at the Naidupeta facility, which holds IATF and WHO GMP certifications; a second greenfield plant at Dahej, Gujarat is targeted for H1 FY27 commissioning, with combined capacity set to exceed 115,000 MTPA by 2029. Zinc oxide utilization is running at ~77% and zinc sulphate at ~60%, and the Dahej project is being built with INR100 crore of capex against an INR900 crore revenue potential at full achievable capacity by FY29. The Naidupeta plant is being debottlenecked by Q3 FY27 (December 2026), and a recycled-rubber pilot has cleared customer trials and is being scaled commercially. The biggest cost is raw materials — primarily zinc-based inputs including zinc dross bought from recyclers — at 83.1% of FY26 revenue; a March 2026 geopolitical disruption to Middle East zinc-dross supply was offset by price pass-through from April 1, 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Zinc oxide, Zinc sulphate and other zinc chemicals, Recycled rubber. Commodity/specialty chemicals, asset-heavy zinc oxide and zinc recycling business tied to the tire industry cycle.
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 668 | 848 | 973 |
| EBITDA (ex other income) | 44 | 86 | 82 |
| margin % | 6.5 | 10.2 | 8.4 |
| Owners' profit | 31 | 64 | 66 |
| EPS, as reported (₹) | 9.60 | 16.34 | 16.81 |
| ROE % · ROCE % | 7.9 · 11.4 | 14.1 · 19.1 | 12.7 · 17.0 |
| Debt / equity (x) | 0.03 | 0.00 | 0.01 |
| Cash from operations | 76 | (11) | 44 |
| Capex | (9) | (5) | (39) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 212 | 209 | 224 | 218 | 220 | 248 | 286 | 316 |
| Profit before tax | 23 | 24 | 22 | 22 | 20 | 25 | 25 | 35 |
| Net profit | 17 | 18 | 16 | 16 | 15 | 18 | 19 | 26 |
| EPS (₹) | 4.21 | 4.33 | 3.92 | 4.03 | 3.67 | 4.50 | 4.61 | 6.40 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DEEPAK FERTILIZERS & PETR | 16,727 | 17.0 | 2.24 | 12.2 | 9.9 | 8.4 | 14.6 | 26.1 |
| TATA CHEMICALS LTD | 15,683 | — | 0.71 | 141.2 | (7.7) | (5.0) | 7.4 | 14.4 |
| GUJ NAR VAL FER & CHEM L | 8,273 | 8.0 | 0.91 | 6.0 | 8.9 | 10.3 | 8.7 | 22.1 |
| TANFAC INDUSTRIES LTD. | 6,773 | 55.4 | 18.15 | — | 18.8 | 24.3 | — | 16.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · J.G. Chemicals to hold analyst and investor meet on 16 Sept 2026 | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Newspaper ad published for 25th AGM notice | compliance | minimal | — | — |
| 7 Sept 2026 · Notice of 25th AGM on 30 September 2026 with FY26 Annual Report | board shareholder meetings | low | — | — |
| 7 Sept 2026 · FY26 Annual Report: Record Revenue Rs 9,729 mn, Zero Debt, Expansion Plans | compliance | low | — | — |
| 5 Sept 2026 · Newspaper advertisement for 25th AGM filed with stock exchanges | compliance | minimal | — | — |
| 4 Sept 2026 · Record date fixed at Sep 23, 2026 for final dividend | corporate actions | high | — | — |
| 4 Sept 2026 · 25th AGM on 30 Sep 2026 via VC; e-voting cut-off 23 Sep | board shareholder meetings | low | — | — |
| 2 Sept 2026 · J.G. Chemicals to hold investor meet on September 8, 2026 in Mumbai | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Investor Meet Scheduled for September 7, 2026 in Mumbai | board shareholder meetings | low | — | — |
| 18 Aug 2026 · JG Chemicals subsidiary acquires 16.74 acres in Andhra Pradesh for Rs 18.41 cr | capex operations | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| GUJARAT ALKALIES & CHEM |
| 5,179 |
| 78.0 |
| 1.00 |
| 10.7 |
| (0.0) |
| 0.7 |
| 12.4 |
| 18.4 |
| GHCL LIMITED | 3,879 | 8.4 | 1.09 | 5.1 | 13.3 | 16.6 | 1.1 | 23.9 |
| GRAUER & WEIL IND LTD | 3,469 | 21.2 | 3.21 | 14.1 | 15.2 | 19.2 | 14.5 | 20.4 |
| J.G.CHEMICALS LIMITED ◆ | 2,330 | 31.0 | 4.31 | 23.7 | 12.7 | 16.9 | — | 11.5 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 31.0 | 17.0 | 44 of 57 | 23% |
| P/B | 4.3 | 1.4 | 51 of 59 | 14% |
| ROCE | 16.9 | 6.2 | 11 of 65 | 84% |
| ROE | 12.7 | 4.9 | 14 of 65 | 80% |
| Debt / Equity | 0.0 | 0.2 | 21 of 65 | 69% |
| EBITDA margin | 11.5 | 13.3 | 33 of 58 | 44% |
| Revenue growth | 44.8 | 6.7 | 4 of 54 | 94% |
| Profit growth | 59.6 | 21.0 | 25 of 64 | 62% |
| Market cap | 2330 | 77 | 8 of 65 | 89% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
