BSE: 507155
JAGATJIT INDUSTRIES LTD.
Produces and sells alcoholic beverages, food products and ethanol from a BSE-listed platform, operating across four named segments: Beverages, Food, Others and Ethanol. Beverages is the largest named line at Rs 85.15 crore for the FY26 period ended 31 March 2026, followed by Ethanol at Rs 13.49 crore, Food at Rs 1.91 crore and Others at Rs 3.43 crore. The company plans to launch a Premium Single Malt Whisky in FY 2026-27 and is shifting its Chhattisgarh operations from a franchisee to a company-operated model from the same fiscal year to lift volumes and margins. FY26 total revenue stood at Rs 363.85 crore, sharply lower than the prior year as flagged in the audited results filing. It monetised an immovable property for an exceptional gain of Rs 9,530 lakhs, using the proceeds to cut its IndusInd Bank term loan from Rs 158.68 crore down to Rs 49.63 crore. Materials are the largest cost at 47.6% of revenue, with other operating expenses at 50.9% and depreciation at 5.0%. The business carries a CRISIL B+/Stable rating with reported gearing of 3.94 times, and management has flagged going-concern considerations tied to revenue recovery and margin improvement. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Beverages, Ethanol, Food, Others. Asset-heavy, regulated breweries and distilleries business carrying high gearing.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 451 | 582 | 708 | 642 | 364 |
| EBITDA (ex other income) | (13) | 6 | 17 | (14) | (47) |
| margin % | (2.9) | 0.9 | 2.5 | (2.2) | (13.0) |
| Owners' profit | 0 | 7 | 8 | (23) | 10 |
| EPS, as reported (₹) | 0.11 | 1.58 | 1.63 | (5.01) | 2.12 |
| ROE % · ROCE % | 0.9 · 8.5 | 11.0 · 11.4 | 10.0 · 8.2 | (43.7) · 1.0 | 15.7 · 10.9 |
| Debt / equity (x) | 4.17 | 3.41 | 3.56 | 7.52 | 5.70 |
| Cash from operations | 14 | 12 | 30 | (5) | (75) |
| Capex | (5) | (4) | (55) | (150) | (116) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 154 | 178 | 160 | 151 | 125 | 99 | 36 | 104 |
| Profit before tax | (4) | (8) | (4) | (7) | (10) | (28) | 64 | (17) |
| Net profit | (4) | (8) | (4) | (7) | (10) | (28) | 64 | (17) |
| EPS (₹) | (0.92) | (1.70) | (0.93) | (1.45) | 2.12 | 5.97 | 13.76 | (3.56) |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Beverages | 315 | 86.7 |
| Food | 17 | 4.7 |
| Others | 12 | 3.3 |
| Ethanol | 19 | 5.2 |
| Total, before eliminations | 364 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| UNITED SPIRITS LIMITED | 92,075 | 47.9 | 10.28 | 34.1 | 20.5 | 23.1 | 0.3 | 6.9 |
| RADICO KHAITAN LTD | 57,457 | 68.8 | 17.33 | 56.8 | 18.2 | 22.1 | 15.1 | 6.0 |
| UNITED BREWERIES LTD | 30,041 | 76.0 | 6.63 | 34.0 | 9.1 | 12.1 | 11.4 | 5.6 |
| ALLIED BLEND N DISTILS L | 19,356 | 88.4 | 11.48 | 36.1 | 13.1 | 17.8 | — | 6.6 |
| TILAKNAGAR INDUSTRIES LTD | 12,041 | — | 4.04 | 66.2 | 0.7 | 0.4 | 29.9 | 6.4 |
| PICCADILY AGRO INDUSTRI L | 5,540 | 39.1 | 6.15 | 25.1 | 15.3 | 17.5 | 18.3 | 17.3 |
| INDIA GLYCOLS LTD | 2,225 | 6.7 | 0.76 | 5.8 | 10.0 | 7.3 | 12.6 | 5.7 |
| GLOBUS SPIRITS LTD | 2,126 | 17.9 | 1.95 | 9.7 | 8.4 | 8.5 | 16.7 | 6.9 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 6.8 | 32.8 | 4 of 21 | 85% |
| P/B | 9.2 | 1.9 | 22 of 25 | 13% |
| ROCE | 2.4 | 3.7 | 14 of 26 | 48% |
| ROE | 15.7 | 5.6 | 4 of 25 | 88% |
| Debt / Equity | 5.7 | 0.5 | 25 of 25 | 0% |
| EBITDA margin | (5.1) | 6.4 | 20 of 23 | 14% |
| Revenue growth | (30.9) | 10.2 | 20 of 22 | 10% |
| Profit growth | (144.7) | 6.1 | 23 of 23 | 0% |
| Market cap | 580 | 740 | 14 of 26 | 48% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Oct 2026 · Quarterly Compliance Certificate under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 1 Oct 2026 · AGM 2026: All 6 resolutions passed with near-unanimous majority | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 81st AGM held via video conferencing; 6 resolutions voted upon | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Directors re-appointed at 81st AGM - MD for 2 years, ED for 3 years | management changes | high | — | — |
| 5 Sept 2026 · Jagatjit Industries 81st AGM on Sep 30, 2026; book closure Sep 25 to 30 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 81st AGM notice - Sept 30, 2026; re-appointment of MD, ED and auditors | board shareholder meetings | low | — | — |
| 5 Sept 2026 · FY26 annual report filed; revenue drops, PAT turns positive, debt cut sharply | results | medium | — | — |
| 2 Sept 2026 · Jagatjit Industries appoints Eiti Singhal as Chief Marketing Officer | management changes | medium | — | — |
| 24 Aug 2026 · CFO Anil Singal resigns, last working day 20 Aug 2026 | management changes | high | — | — |
| 14 Aug 2026 · Q1 FY27 results published; revenue up, loss narrows | compliance | minimal | — | — |
How to read this document
| 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 | 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 |
Sources, method and disclosures
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.