J.G. Chemicals Q2 FY27 Earnings Call Transcript Released
J.G. Chemicals reported its best-ever quarterly performance in Q2 FY27. Revenue grew 64% YoY to ₹361 crore, EBITDA rose 77% to ₹38.65 crore, and PAT increased 86% to ₹27.95 crore. Capacity expansions at Dahej and Naidupeta are nearing completion, expected to boost total capacity to nearly 80,000 MTPA. The company anticipates EBITDA margins reaching 14-15% in three years.
The announcement provides a detailed update on strong financial performance, significant capacity expansions, and strategic initiatives, which are material factors for investors and the market.
The company reported its best-ever quarterly performance with significant year-on-year growth in revenue, EBITDA, and PAT. Positive outlook on future demand, capacity expansions, and margin improvement contribute to a positive sentiment.
J.G. Chemicals Limited has released the transcript of its earnings conference call for the second quarter and half-year ended September 30, 2026. The call, held on November 4, 2026, featured insights from MD and CEO Mr. Anirudh Jhunjhunwala, Whole-Time Director and CFO Mr. Anuj Jhunjhunwala, and other management.
During the call, management highlighted that Q2 FY27 marked the company's best-ever quarterly performance, with revenue, EBITDA, and PAT reaching new highs. This was attributed to healthy demand across end-user industries, a favorable product mix, and focused execution. The company emphasized its strong position as India's largest zinc recycling company and a leading manufacturer of zinc oxide, a value-added green chemical. The relevance of recycled materials and green chemicals like zinc oxide is increasing due to growing sustainability and ESG commitments in industries like tire manufacturing.
Key developments discussed included the nearing completion of the Dahej greenfield project's Phase 1, with trial runs scheduled for December 2026. The Naidupeta brownfield expansion is on track for commissioning in Q4 FY27 (expected mid-January). These expansions are projected to increase total zinc oxide capacity to approximately 79,900 tons per annum. Additionally, BDJ Oxides Private Limited, a material subsidiary, acquired land at Naidupeta for future capacity expansion.
The company is also focusing on product development, including the launch of LabPure (analytical grade zinc oxide) and JDZRA for non-tire rubber applications. The JG TUR initiative, aimed at converting end-of-life tires into usable rubber material, is progressing with pilot trials showing success.
Financially, for Q2 FY27, consolidated revenue was ₹361.01 crore (up 64% YoY), EBITDA was ₹38.65 crore (up 77% YoY) with a margin of 10.71%, and PAT was ₹27.95 crore (up 86% YoY) with a margin of 7.74%. For H1 FY27, consolidated revenue was ₹676.66 crore (up 54% YoY), EBITDA was ₹74.9 crore (up 66% YoY) with a margin of 11.07%, and PAT was ₹54.07 crore (up 72% YoY) with a margin of 7.99%. The company reported a net cash surplus of ₹63.3 crore as of September 30, 2026.
Management expressed confidence in continued strong demand, particularly from the tire sector, and expects to double revenues every three years, aiming for over ₹1,200 crore in FY27. They anticipate EBITDA margins to reach 14-15% within three years, driven by operational leverage, new capacities, product diversification, and an increasing share of value-added products.
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