NSE: JAYAGROGN · BSE: 524330
JAYANT AGRO ORGANICS LTD
Processes castor seed into castor oil and further converts castor oil into specialty derivatives such as bio polyols. In FY26 the business reported consolidated revenue of Rs 2,405.74 crore split across three segments: Castor Oil (Rs 1,261.54 crore, 52.4% of segment revenue), Castor Oil Derivatives (Rs 1,140.85 crore, 47.4%) and a small Power Generation segment (Rs 3.35 crore, 0.1%). The derivatives business is the more profitable line, with segment EBIT of Rs 76.02 crore against Rs 6.54 crore for Castor Oil. Raw materials account for 75.2% of revenue, employee cost 3.1%, other operating expenses 8.0% and depreciation 0.9%, leaving an EBITDA margin of 4.49%. In May 2026 the company completed the acquisition of Vithal Castor Polyols Private Limited (VCPL) for Rs 25.37 crore in cash, lifting its equity holding in the bio-polyols maker from 50% to 90% and adding a manufacturer of bio polyols to the group. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Castor Oil (52%), Castor Oil Derivatives (47%), Power Generation (0%). Commodity-linked processor and specialty derivatives maker with high raw-material intensity and thin margins.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,589 | 2,772 | 2,150 | 2,528 | 2,406 |
| EBITDA (ex other income) | 152 | 97 | 97 | 109 | 104 |
| margin % | 5.9 | 3.5 | 4.5 | 4.3 | 4.3 |
| Owners' profit | 89 | 49 | 53 | 55 | 50 |
| EPS, as reported (₹) | 29.53 | 16.45 | 17.59 | 18.30 | 16.80 |
| ROE % · ROCE % | 18.7 · 26.3 | 9.6 · 14.3 | 9.6 · 13.3 | 8.8 · 13.9 | 7.8 · 12.7 |
| Debt / equity (x) | 0.30 | 0.16 | 0.27 | 0.17 | 0.20 |
| Cash from operations | 65 | 123 | 17 | 118 | 44 |
| Capex | (18) | (41) | (53) | (28) | (34) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 598 | 580 | 634 | 672 | 500 | 587 | 647 | 797 |
| Profit before tax | 18 | 19 | 14 | 22 | 13 | 9 | 27 | 28 |
| Net profit | 13 | 14 | 11 | 16 | 9 | 6 | 18 | 21 |
| EPS (₹) | 4.58 | 4.72 | 3.83 | 5.38 | 3.22 | 2.31 | 5.89 | 6.69 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Castor Oil | 1,262 | 52.4 |
| Castor Oil Derivatives | 1,141 | 47.4 |
| Power Generation | 3 | 0.1 |
| Total, before eliminations | 2,406 | 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. % |
|---|---|---|---|---|---|---|---|---|
| PIDILITE INDUSTRIES LTD | 1,42,095 | 53.6 | 12.86 | 37.6 | 22.4 | 28.0 | 14.9 | 28.6 |
| SRF LTD | 69,659 | 32.2 | 4.96 | 21.6 | 13.1 | 13.1 | 13.4 | 25.2 |
| GUJARAT FLUOROCHEM LTD | 47,075 | 76.8 | 5.95 | 37.4 | 7.3 | 8.7 | 13.5 | 27.7 |
| NAVIN FLUORINE INT. LTD | 43,610 | 55.1 | 10.97 | 39.3 | 16.7 | 16.4 | 23.0 | 37.5 |
| AETHER INDUSTRIES LIMITED | 20,905 | 88.6 | 8.51 | 56.8 | 8.9 | 11.4 | — | 33.8 |
| DEEPAK NITRITE LTD | 20,257 | 25.9 | 3.45 | 21.0 | 9.4 | 10.2 | 12.6 | 21.5 |
| AARTI INDUSTRIES LTD | 15,871 | 29.9 | 2.67 | 17.1 | 7.0 | 4.4 | 13.0 | 16.2 |
| FINE ORGANIC IND. LTD. | 15,604 | 35.6 | 5.86 | 25.5 | 15.7 | 20.0 | 15.9 | 28.8 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.2 | 23.1 | 18 of 99 | 83% |
| P/B | 1.0 | 2.8 | 11 of 99 | 89% |
| ROCE | 10.4 | 10.1 | 49 of 106 | 54% |
| ROE | 7.8 | 8.1 | 53 of 99 | 47% |
| Debt / Equity | 0.2 | 0.2 | 52 of 99 | 48% |
| EBITDA margin | 5.1 | 15.5 | 88 of 99 | 11% |
| Revenue growth | 18.5 | 24.4 | 56 of 94 | 41% |
| Profit growth | 26.1 | 55.1 | 56 of 92 | 40% |
| Market cap | 662 | 699 | 56 of 108 | 49% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 12 Oct 2026 · Reg 74(5) demat certificate filed for Q2 FY26 | compliance | minimal | — | — |
| 1 Oct 2026 · Jayant Agro and subsidiary win CHEMEXCIL export awards | business updates | low | — | — |
| 30 Sept 2026 · Subsidiary Ihsedu Agrochem wins castorseed oilcake processor award | business updates | low | — | — |
| 28 Sept 2026 · Closure of Trading Window | compliance | minimal | — | — |
| 12 Sept 2026 · Jayant Agro Organics 34th AGM - dividend declared, all 13 resolutions passed | board shareholder meetings | low | — | — |
| 12 Sept 2026 · Jayant Agro AGM 2026: All 13 resolutions passed with over 99% majority | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Newspaper ad for 34th AGM on September 12, 2026 | compliance | minimal | — | — |
| 19 Aug 2026 · Annual Report FY25-26 and 34th AGM Notice | board shareholder meetings | low | — | — |
| 19 Aug 2026 · Notice of 34th AGM on September 12, 2026 along with FY 2025-26 Annual Report | board shareholder meetings | medium | — | — |
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.