Jubilant Ingrevia Q2 FY27 revenue rises 24% to ₹1,394 crore

Jubilant Ingrevia Limited reported record quarterly revenue of ₹1,394 crore in Q2 FY27, up 24% year-on-year, supported by stronger realisations and stable volumes. EBITDA increased 51% to ₹221 crore and profit after tax rose 60% to ₹111 crore, reflecting growth across its three operating segments and improved profitability.

What were Jubilant Ingrevia's Q2 FY27 financial results?

Jubilant Ingrevia delivered its highest-ever quarterly revenue in the September 2026 quarter. Revenue rose 24% year-on-year to ₹1,394 crore, while EBITDA increased 51% year-on-year to ₹221 crore, which management described as the highest level in the past three years.

Profit after tax rose 60% year-on-year to ₹111 crore. Chairman Shyam Bhartia said quarterly EBITDA had more than doubled over the last three years, attributing the performance to execution under the company's Pinnacle strategy and continued cost discipline.

The first-half performance also remained strong. Management said H1 FY27 revenue grew 25% year-on-year and EBITDA increased 44% year-on-year. The company linked the quarterly revenue increase to stronger realisations and stable volumes across its businesses.

Which businesses drove Jubilant Ingrevia's quarterly growth?

Jubilant Ingrevia's Specialty Chemicals business recorded revenue of ₹560 crore, up 16% year-on-year and 5% sequentially. Management said healthy volume growth in Fine Chemicals and CDMO supported the segment's performance.

Specialty Chemicals EBITDA stood at ₹140 crore, with an EBITDA margin of 25%. The company cited improved pricing in its value-added Fine Chemicals and CDMO portfolio as a factor behind the segment's margin performance.

The Nutrition and Health Solutions business reported revenue of ₹270 crore, up 50% year-on-year and 11% sequentially. EBITDA in this business increased 87% year-on-year to ₹39 crore, while its EBITDA margin remained at 15%.

Chemical Intermediates revenue rose 24% year-on-year and 8% sequentially to ₹563 crore. The segment's EBITDA grew 226% year-on-year and 13% sequentially to ₹64 crore, driven by improved realisations across the product portfolio.

Why did Chemical Intermediates profitability improve?

Jubilant Ingrevia said Chemical Intermediates maintained steady volumes and achieved better realisations during the quarter. The business operated amid higher input costs associated with elevated crude prices, making the improvement in product realisations an important contributor to profitability.

Management's commentary also referred to European market conditions in discussing the stronger segment performance. The sharp rise in Chemical Intermediates EBITDA helped support consolidated earnings growth alongside the steady contribution from Specialty Chemicals and the faster expansion in Nutrition and Health Solutions.

The segment mix is relevant for investors because the three businesses showed growth at different rates. Specialty Chemicals generated the largest disclosed segment EBITDA, while Nutrition and Health Solutions delivered the highest revenue growth rate and Chemical Intermediates recorded the fastest EBITDA growth.

What is Jubilant Ingrevia's ZettaOne Technologies investment?

Jubilant Ingrevia has signed an agreement to acquire a 40% stake in ZettaOne Technologies Limited for ₹189 crore. Chief Executive Officer and Managing Director Deepak Jain said the transaction was progressing and that the shareholders' agreement would be concluded soon.

Management said the investment marks Jubilant Ingrevia's entry into Electronics Development and Manufacturing Services. The company expects the association to enable more integrated offerings for customers in electronics and semiconductor sectors.

The transaction adds a new business linkage beyond the company's existing chemical segments. However, the company did not disclose financial contribution expectations from ZettaOne Technologies during the call, and the shareholders' agreement remains to be concluded.

What guidance has Jubilant Ingrevia given for FY27?

Jubilant Ingrevia retained its annual guidance of ₹750 crore to ₹800 crore, as cited during the earnings call. Management said that, following the strong first-half performance, it expects to be closer to the upper end of that range.

The company noted that its previous guidance did not include a contribution from a large CDMO contract in the second half. Management also referred to a European closure occurring around mid-September while responding to an analyst's question on the outlook.

For shareholders, the guidance retention indicates that management has not formally raised its annual range despite the stronger Q2 results. The disclosed performance shows that the company is relying on contributions across its established businesses while progressing its ZettaOne Technologies transaction.

How do the Q2 FY27 results affect investors and the chemicals sector?

The results show improved operating performance across Jubilant Ingrevia's business portfolio. Revenue growth was accompanied by faster growth in EBITDA and profit after tax, while Specialty Chemicals maintained a 25% EBITDA margin and Nutrition and Health Solutions held a 15% margin.

The Chemical Intermediates result also highlights the relevance of realisations and crude-linked input costs for chemical producers. In this quarter, improved realisations supported EBITDA growth even as management referred to higher input costs from elevated crude prices.

The ZettaOne Technologies agreement is a separate strategic development that connects Jubilant Ingrevia with electronics and semiconductor customers. Its financial impact cannot yet be assessed from the disclosed information because the transaction is still progressing and no earnings contribution has been provided.

Conclusion

Jubilant Ingrevia's Q2 FY27 performance was led by record revenue of ₹1,394 crore, a 51% increase in EBITDA to ₹221 crore, and a 60% rise in profit after tax to ₹111 crore. Growth across Specialty Chemicals, Nutrition and Health Solutions, and Chemical Intermediates supported the quarter's stronger operating outcome.

Investors will watch progress on the shareholders' agreement for the 40% ZettaOne Technologies stake, the execution of the large CDMO contract mentioned by management, and whether FY27 performance moves toward the upper end of the company's ₹750 crore to ₹800 crore guidance range.