Company Overview
We are a leading solutions provider of Specialty Chemicals & CDMO globally, serving Pharmaceutical, Nutrition, Agrochemical, Consumer, Semiconductor and Industrial customers. We offer customised solutions that are innovative, cost-effective and conform with global quality standards, with a broad portfolio of 130+ products.
Financial Overview
The Company delivered a strong financial performance during FY 2026, supported by its diversified business portfolio, integrated operations, and continued focus on operational efficiency and value-added growth.
Financial Summary
| Particulars | FY 2026 | FY 2025 | YoY Change |
|---|---|---|---|
| Total Revenue (₹ in crore) | 4,388 | 4,178 | 5% |
| EBITDA# (₹ in crore) | 607 | 557 | 9% |
| EBITDA Margin (%) | 14% | 13% | 51 bps |
| Profit After Tax (PAT) (₹ in crore) | 278 | 251 | 11% |
| PAT Margin (%) | 6% | 6% | 32 bps |
| EPS (₹ per share) | 18 | 16 | 11% |
| Net Debt (Mar 31, 2026) (₹ in crore) | 591 | 658 | -11% |
| Net Debt / EBITDA (times) | 0.97x | 1.18x | - |
| Working Capital Days | 62 days | 66 days | - |
#EBITDA Include/adjusted with other Income
Business Segment
Specialty Chemicals Market
Financial Performance of Specialty Chemicals
| Metric | FY 2026 | FY 2025 |
|---|---|---|
| Segmental revenue (₹ crore) | 1,937 | 1,818 |
| % Share of Overall Revenue | 44% | 44% |
| EBITDA (₹ crore) | 510 | 422 |
| EBITDA margin (%) | 26% | 23% |
| Contribution to overall EBITDA (%)# | 75% | 67% |
# Before adjustment of Unallocated corporate expense/Income
In FY 2026, the segment reported revenue of ₹ 1,937 Crore, reflecting a YoY growth of 7%, while EBITDA increased by 21% to ₹ 510 Crore. During the fourth quarter, the segment recorded its highest EBITDA in the last 15 quarters at ₹ 139 Crore, with EBITDA margin improving to 27%. This growth was supported by sustained volume expansion across key product categories, increasing contribution from high-margin businesses such as CDMO and Fine Chemicals, and an improved product mix with a higher share of value-added specialty offerings. Continued focus on cost optimisation and operational efficiency initiatives also contributed to enhanced profitability during the year.
FY 2026 Highlights
- Segment revenue: ₹1,937 Crore (+7% YoY); EBITDA: ₹510 Crore (+21% YoY)
- Specialty EBITDA margin: 26% – sustained above 25% for six consecutive quarters
- 75% contribution to overall EBITDA
- Pharma CDMO pipeline grown 3x in two years with innovators and Tier-1 CDMOs
- Agro CDMO facility commissioned within 14 months; despatches commenced in March 2026
- Semiconductor R&D Lab approved at Greater Noida to support emerging applications
Outlook
The Company remains aligned with its Pinnacle strategy, with the Specialty Chemicals segment expected to maintain its growth momentum through continued investments in multi-purpose manufacturing facilities, new CDMO infrastructure, personal care, semiconductor & electronics, diketene derivatives capacity expansion. In addition, the Company is progressing the development of a new multipurpose plant, which is expected to enhance manufacturing capacity and provide greater flexibility to support the growing pipeline across the Fine Chemicals and CDMO offerings.
Nutrition and Health Solutions
Nutrition & Health Solutions represents an attractive platform for the Company to leverage its integrated chemistry capabilities, global customer relationships, regulatory systems and application expertise. The business operates across Human Nutrition and Animal Nutrition, serving customers in human nutrition, animal nutrition, personal care, nutraceuticals, food fortification and related end-use industries.
The business environment during FY 2026 remained mixed. Demand for Niacinamide remained resilient across feed, food and cosmetic applications; however, pricing in certain categories remained under pressure due to global supply-demand imbalance and competitive intensity. Cosmetic-grade demand continued to grow steadily, while food-grade demand remained encouraging. Choline demand remained stable, although domestic pricing continued to be affected by imports from China.
Financial Performance of Nutrition & Health Solutions
| Metric | FY 2026 | FY 2025 |
|---|---|---|
| Segmental revenue (₹ crore) | 790 | 747 |
| % Share of Overall Revenue | 18% | 18% |
| EBITDA (₹ crore) | 100 | 102 |
| EBITDA margin (%) | 13% | 14% |
| Contribution to overall EBITDA (%)# | 15% | 16% |
# Before adjustment of Unallocated corporate expense/Income
The Nutrition & Health Solutions segment contributed 18% to the Company’s overall revenue during FY 2026. Segmental revenue stood at ₹ 790 Crore, while EBITDA was ₹ 100 Crore, translating into an EBITDA margin of 13%. The segment accounted for 15% of the Company’s overall EBITDA before adjustment for unallocated corporate expenses/income.
FY 2026 Highlights
- Segment revenue: ₹790 Crore (+6% YoY); EBITDA: ₹100 Crore
- Highest B3 volumes in eight quarters in Q4 FY 2026
- Increasing traction for Cosmetic and Food-grade B3 across EU and US customers
- Premix portfolio expanded with growth across domestic markets and launch of Human Premix solutions
Outlook
Nutrition & Health Solutions is evolving from a volume-led market to one increasingly defined by specialisation, compliance, traceability, application support and long-term customer partnerships. The Company’s strategic focus will be to:
- Ramp up the Bharuch cGMP Niacinamide facility for cosmetic-grade, food-grade and nutraceutical-grade demand
- Strengthen the human nutrition portfolio through food-grade Choline Chloride, Choline Bitartrate and other value-added ingredients
- Increase the share of premium, margin-accretive products under the Company’s growth plans
- Develop new products for nutrition and cosmetic applications by leveraging chemistry capabilities and global customer relationships
- Drive growth in branded premixes and differentiated formulations across human and animal nutrition
Chemical Intermediates
The Chemical Intermediates segment continues to remain a foundational pillar of Jubilant Ingrevia Limited. Within this structure, the Chemical Intermediates business serves a dual role, acting both as a stable cash-generating business and as a key enabler for internal value-chain integration.
Performance of Chemical Intermediates
| Metric | FY 2026 | FY 2025 |
|---|---|---|
| Segmental Revenue (₹ crore) | 1,662 | 1,612 |
| Contribution to Total Revenue (%) | 38% | 39% |
| EBITDA (₹ crore) | 73 | 108 |
| EBITDA Margin (%) | 4% | 7% |
| Contribution to Overall EBITDA (%)# | 11% | 17% |
# Before adjustment of Unallocated corporate expense/Income
In FY 2026, the Chemical Intermediates segment reported revenue of ₹ 1,662 Crore as compared to ₹ 1,612 Crore in FY 2025, reflecting a growth of 3% YoY. The segment contributed approximately 38% to the Company’s total revenue during the year, compared to 39% in the previous fiscal year.
Segment EBITDA stood at ₹ 73 Crore during FY 2026 as against ₹ 108 Crore in FY 2025, resulting in EBITDA margin declining to 4% from 7% in the previous year. Consequently, the segment’s contribution to the Company’s overall EBITDA reduced to 11% during the year from 17% in FY 2025.
The segment’s performance was impacted by continued weakness across key end-use markets, particularly in the Paracetamol value chain, which affected demand for Acetic Anhydride. Pricing pressure across the product portfolio also impacted overall margins during the year.
FY 2026 Highlights
- Segment revenue: ₹1,662 Crore (+3% YoY)
- Strong volume growth across Acetic Anhydride and Ethyl Acetate
- Maintained 70%+ domestic market share
- Expanded market presence in Europe
- Continued focus on cost optimisation and operational excellence
- EBITDA reported at ₹ 73 Crore
Outlook
The Chemical Intermediates segment is expected to witness gradual stabilisation and improvement in performance as demand conditions recover across key end-use industries. Although pricing trends remained soft during FY 2026, management expects the business cycle to approach stability, with recovery anticipated over the near to medium term.