J.G.Chemicals Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,292 Cr
- P/E
- 30.49
- ROE
- 13.22%
- PEG
- 4.67
- Price to sales
- 2.13
- Debt to equity
- 0.01
- 52W high / low
- ₹682 / ₹305
- Sales growth (5Y)
- 17.50%
- EBITDA margin
- 8.94%
- Net profit margin
- 6.75%
- Promoter holding
- 70.99%
- Sales (last year)
- ₹1,071 Cr
Incorporated in 2001, J.G Chemicals is a leading Zinc Oxide Manufacturer having the capability to produce up to 80 grades of Zinc oxide[1]
Guidance scorecard · Q1 FY27 call
What J.G.Chemicals Ltd's management guided
and where it ranks in Chemicals & Petrochemicals
Chemicals & Petrochemicals
RevenueQ1 FY27 call
10–20%- Company expects continued demand momentum throughout the year driven by strong domestic manufacturing and multiple end-user industries (tire, ceramics, pharma, specialty chemicals, agriculture).
- Volume growth was in mid-teens in the recent quarter and is expected to sustain with further ramp-up of existing capacities.
- New Gujarat (Dahej) plant to be commissioned in November 2026; targets 50-60% utilization in FY27 and 70-80% by FY28, adding 15,000 to 17,000 tons p.a. zinc oxide capacity.
- Expanded capacities and capacity improvements expected to drive double-digit volume growth in the near term.
- Higher share of value-added and specialized products (like zinc sulphate, ZRA, Lab Pure) will contribute to both volume and value growth.
2 more points from J.G.Chemicals Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what J.G.Chemicals Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- A new greenfield plant in Dahej, Gujarat, with Phase 1 capacity of 15,000 to 18,000 tons per annum, expected to be commissioned by November 2026 (Q3 FY27).
- Ramp-up plan for Dahej plant: 50%-60% utilization in FY28, aiming for 70%-80% in FY29, followed by Phase 2 expansion.
- Dahej plant's revenue potential: INR 300-400 crores with EBITDA margins expected at 11%-12%.
- Capex payback target: 3 to 4 years with expected ROCE in the mid-20% range.
- Naidupeta plant is undergoing debottlenecking to add about 5,000 tons capacity; capex details to be confirmed.
2 more points from J.G.Chemicals Ltd's call on capex
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FundraisingQ1 FY27 call
See what J.G.Chemicals Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Strong demand momentum is highlighted across end-user applications, contributing to record quarterly sales.
- The company indicates continued strong customer demand with utilization around 80% and potential to ramp up to full capacity.
- New capacity expansions (Naidupeta debottlenecking and Dahej plant) are planned to meet increasing demand.
- The company expects higher sales and volume growth to continue through FY27 and beyond.
2 more points from J.G.Chemicals Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Chemicals & Petrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹263 Cr | 3.4 | |
| 2 | 40%+ | Flat | ₹4,375 Cr | 83.7 | |
| 3 | 40%+ | Flat | ₹3,259 Cr | 4.0 | |
| 4 | 40%+ | Flat | ₹145 Cr | 15.9 | |
| 5 | 20–40% | Up 2%+ | ₹1.81L Cr | 90.9 | |
| 6 | 20–40% | Up 2%+ | ₹48,366 Cr | 78.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingFinancials of J.G.Chemicals Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of J.G.Chemicals Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 194 | 172 | 153 | 161 | 181 | 203 | 212 | 209 | 224 | 218 | 220 | 248 | 286 |
| Expenses + | 179 | 167 | 145 | 147 | 164 | 180 | 191 | 186 | 205 | 198 | 202 | 226 | 265 |
| Operating Profit | 16 | 5 | 8 | 15 | 17 | 22 | 21 | 23 | 19 | 20 | 18 | 23 | 21 |
| OPM % | 8% | 3% | 5% | 9% | 9% | 11% | 10% | 11% | 9% | 9% | 8% | 9% | 8% |
| Other Income + | 3 | 2 | -1 | 2 | 3 | 0 | 3 | 3 | 4 | 3 | 4 | 3 | 5 |
| Interest | 2 | 2 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 16 | 5 | 5 | 15 | 18 | 21 | 23 | 24 | 22 | 22 | 20 | 25 | 25 |
| Tax % | 27% | 25% | 22% | 28% | 25% | 25% | 26% | 26% | 26% | 25% | 26% | 25% | 26% |
| Net Profit + | 12 | 4 | 4 | 11 | 14 | 16 | 17 | 18 | 16 | 16 | 15 | 18 | 19 |
| EPS in Rs | 3.57 | 1.20 | 1.18 | 3.22 | 3.34 | 3.88 | 4.21 | 4.33 | 3.92 | 4.02 | 3.67 | 4.47 | 4.65 |
Financials of J.G.Chemicals Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 398 | 434 | 611 | 782 | 666 | 847 | 973 |
| Expenses + | 379 | 390 | 554 | 706 | 620 | 761 | 891 |
| Operating Profit | 20 | 44 | 57 | 76 | 46 | 87 | 82 |
| OPM % | 5% | 10% | 9% | 10% | 7% | 10% | 8% |
| Other Income + | 8 | 5 | 10 | 10 | 6 | 10 | 16 |
| Interest | 6 | 5 | 7 | 5 | 4 | 1 | 1 |
| Depreciation | 2 | 2 | 3 | 3 | 5 | 5 | 5 |
| Profit before tax | 19 | 41 | 57 | 77 | 43 | 90 | 92 |
| Tax % | 27% | 30% | 25% | 26% | 26% | 26% | 25% |
| Net Profit + | 14 | 29 | 43 | 57 | 32 | 67 | 69 |
| EPS in Rs | 106.23 | 192.13 | 327.95 | 17.32 | 7.88 | 16.34 | 16.81 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 6% | 7% |
Financials of J.G.Chemicals Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 32 | 39 | 39 | 39 |
| Reserves | 84 | 107 | 151 | 176 | 359 | 426 | 489 |
| Borrowings + | 52 | 74 | 94 | 70 | 14 | 0 | 6 |
| Other Liabilities + | 12 | 27 | 18 | 20 | 37 | 33 | 34 |
| Total Liabilities | 149 | 210 | 264 | 298 | 449 | 498 | 569 |
| Fixed Assets + | 21 | 23 | 22 | 35 | 42 | 39 | 67 |
| CWIP | 0 | 0 | 7 | 1 | 0 | 1 | 8 |
| Investments | 6 | 9 | 8 | 3 | 43 | 51 | 136 |
| Other Assets + | 123 | 178 | 226 | 259 | 364 | 407 | 358 |
| Total Assets | 149 | 210 | 264 | 298 | 449 | 498 | 569 |
Financials of J.G.Chemicals Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 41 | -7 | 7 | 31 | 76 | -11 | 44 |
| Cash from Investing Activity + | -11 | -6 | -5 | -5 | -140 | 25 | -60 |
| Cash from Financing Activity + | -30 | 17 | -0 | -29 | 107 | -29 | 1 |
| Net Cash Flow | -0 | 4 | 1 | -2 | 43 | -15 | -15 |
| Free Cash Flow | 35 | -13 | -2 | 21 | 67 | -16 | 5 |
| CFO/OP | 239% | 4% | 40% | 67% | 189% | 13% | 81% |
Financials of J.G.Chemicals Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 46 | 76 | 57 | 54 | 64 | 61 | 64 |
| Inventory Days | 49 | 51 | 65 | 60 | 37 | 60 | 42 |
| Days Payable | 3 | 8 | 4 | 5 | 5 | 9 | 5 |
| Cash Conversion Cycle | 91 | 119 | 118 | 109 | 96 | 112 | 101 |
| Working Capital Days | 59 | 72 | 68 | 82 | 96 | 119 | 156 |
| ROCE % | 27% | 28% | 30% | 14% | 20% | 18% |
Guidance history
How J.G.Chemicals Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 0–2% | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 10–20% | Up 0–2% | Planned | — | — |
| Q2 FY26 call → | 10–20% | Up 2%+ | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
84 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +33.8% | 80% |
| Last 6 months | +44.8% | 87% |
| Last 3 months | +19.0% | 86% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For J.G.Chemicals Ltd: 0.4 × 80 + 0.4 × 87 + 0.2 × 86 = 84.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What J.G.Chemicals Ltd's management said in earlier quarters
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