Shri Jagdamba Polymers Limited Q2 profit triples, income rises 82%

Shri Jagdamba Polymers Limited reported consolidated net profit of Rs 22.1388 crore for the quarter ended September 30, 2026, up 199.8% from Rs 7.3832 crore a year earlier, as total income rose 81.5% to Rs 203.4923 crore. Profit before tax increased to Rs 30.1717 crore from Rs 11.7509 crore.

How did Shri Jagdamba Polymers perform in Q2 2026?

Shri Jagdamba Polymers delivered consolidated profit after tax of Rs 22.1388 crore in Q2 2026, compared with Rs 7.3832 crore in Q2 2025. Profit before tax rose 156.8% to Rs 30.1717 crore from Rs 11.7509 crore, and the results reported no exceptional items in either September quarter.

Total income increased by Rs 91.4274 crore year on year to Rs 203.4923 crore, while total expenses rose by Rs 72.1066 crore to Rs 173.3206 crore. Income therefore grew faster than expenses, expanding the difference between the two reported lines from Rs 10.8509 crore in Q2 2025 to Rs 30.1717 crore in Q2 2026.

Sequentially, Shri Jagdamba Polymers’ profit after tax rose 10.7% from Rs 20.0053 crore in the quarter ended June 30, 2026. Total income increased 4.6% from Rs 194.5792 crore, while expenses rose 3.0% from Rs 168.2112 crore and profit before tax increased 14.4% from Rs 26.3680 crore.

What drove Shri Jagdamba Polymers’ Q2 income growth?

Shri Jagdamba Polymers’ manufactured-goods income increased 76.4% to Rs 192.0487 crore in Q2 2026 from Rs 108.9016 crore a year earlier. Manufactured goods accounted for Rs 192.0487 crore of the quarter’s Rs 203.4923 crore total income, making it the largest disclosed income category.

Traded-goods income rose to Rs 9.55 crore from Rs 2.8647 crore in Q2 2025, while other income declined to Rs 0.9936 crore from Rs 1.1936 crore. The reported growth was therefore principally associated with manufactured goods, with traded goods adding to the increase; the filing does not disclose sales volumes, pricing or product-level reasons.

For the half year ended September 30, 2026, total income reached Rs 398.0715 crore, compared with Rs 254.8638 crore in the prior-year half. Manufactured-goods income rose to Rs 384.6777 crore from Rs 246.5655 crore, and traded-goods income increased to Rs 10.4728 crore from Rs 5.8321 crore.

How did costs affect Shri Jagdamba Polymers’ Q2 earnings?

Shri Jagdamba Polymers’ cost of materials consumed rose 111.3% to Rs 119.1649 crore in Q2 2026 from Rs 56.3985 crore in Q2 2025. Other expenses increased 39.7% to Rs 32.9854 crore, while employee-benefit expense was Rs 10.5581 crore against Rs 10.1216 crore a year earlier.

Changes in inventories of finished goods, work-in-progress and stock in trade were negative Rs 7.1866 crore, compared with a positive Rs 2.7369 crore in Q2 2025. Finance costs fell to Rs 1.4476 crore from Rs 2.9272 crore, whereas depreciation and amortisation increased to Rs 3.7038 crore from Rs 3.0541 crore.

Based on the disclosed figures, profit before tax was 14.8% of total income in Q2 2026, compared with 10.5% in Q2 2025. Profit after tax represented 10.9% of income, compared with 6.6% a year earlier; these are calculations from the reported income and profit figures, not management targets.

What do Shri Jagdamba Polymers’ cash flow and balance sheet show?

Shri Jagdamba Polymers used Rs 49.8220 crore in operating activities during the half year ended September 30, 2026. The cash-flow statement recorded a Rs 91.2913 crore increase in trade receivables and a Rs 15.5240 crore increase in inventories, partly offset by a Rs 5.0792 crore increase in trade payables.

Net cash from financing activities was Rs 21.6518 crore, including Rs 27.5656 crore of net borrowing proceeds, while investing activities generated Rs 7.2318 crore. Cash and cash equivalents declined to Rs 10.6215 crore at September 30, 2026 from Rs 31.5599 crore at March 31, 2026, following a net decrease of Rs 20.9384 crore during the half year.

Total assets were Rs 535.6069 crore at September 30, 2026, compared with Rs 462.7298 crore at March 31, 2026. Trade receivables rose to Rs 208.4188 crore from Rs 119.9462 crore, inventories increased to Rs 60.7784 crore from Rs 45.2544 crore, and total equity increased to Rs 370.3237 crore from Rs 329.0554 crore.

Did Shri Jagdamba Polymers’ results include its subsidiary?

Shri Jagdamba Polymers’ consolidated financial statements include Global Polyweave Private Limited, its subsidiary, under Indian Accounting Standard 110 on consolidated financial statements. Profit attributable to owners of the parent was Rs 21.0520 crore in Q2 2026, while non-controlling interest accounted for Rs 1.0868 crore of consolidated profit.

In Q2 2025, profit attributable to owners of the parent was Rs 7.9507 crore and non-controlling interest was a loss of Rs 0.5675 crore. Basic and diluted earnings per share were both Rs 25.28 in Q2 2026, versus Rs 8.43 in Q2 2025, on equity shares with a face value of Rs 1 each.

The audit committee reviewed, and the board approved, the unaudited consolidated results on November 7, 2026. Jain K S & Associates carried out a limited review of the consolidated quarterly and year-to-date results for the period from April 1, 2026 to September 30, 2026.

Conclusion

Shri Jagdamba Polymers reported a substantial year-on-year increase in Q2 2026 income and profit, led by manufactured-goods income of Rs 192.0487 crore. Total income grew faster than total expenses, while lower finance costs and the reported inventory movement accompanied profit after tax of Rs 22.1388 crore.

The next reported development to watch is whether the rise in trade receivables to Rs 208.4188 crore and inventories to Rs 60.7784 crore converts into operating cash generation. The filing recorded a half-year operating cash outflow of Rs 49.8220 crore and does not disclose a receivables-collection target, earnings guidance or capital-spending plan.