Jubilant Ingrevia Q2 Results: Profit Rises 60% to ₹111 Crore as Nutrition Sales Jump 50% (Oct 27, 2026)

Jubilant Ingrevia Q2 results came out on Tuesday, October 27, and they were the kind a speciality chemicals stock hasn’t seen much of lately. The Noida-based company’s consolidated profit after tax rose to ₹111 crore in the September quarter from ₹69 crore a year ago, roughly a 60% jump, according to its press release filed with NSE. The shares rose more than 8% during the session, CNBC-TV18 reported.

Jubilant Ingrevia Q2 results at a glance

Total revenue came in at ₹1,394 crore, up 24% from ₹1,121 crore in the same quarter last year and 7% higher than the ₹1,300 crore of the June quarter. CEO and MD Deepak Jain called it an all-time high and credited stronger realisations on stable volumes.

• EBITDA: ₹221 crore against ₹146 crore, up 51% year-on-year. The company says this is its highest in three years.
• EBITDA margin: 16%, up from 13% a year ago and flat on the June quarter.
• EPS: ₹7.1 for the quarter, against ₹4.4.
• First half (April to September): revenue of ₹2,695 crore (up 25%), EBITDA of ₹431 crore (up 44%) and profit of ₹217 crore (up 50%).

One caveat on the EBITDA number. CNBC-TV18’s own calculation put it at ₹212.4 crore, with the margin at 15.2% against 12.1%. Different outlets strip out different line items, so it helps to know which version you’re looking at. Our explainer on what EBITDA margin really measures walks through why these gaps show up.

Which business drove the quarter?

All three segments grew, but not at the same pace. The split, from the company’s segment tables:

• Speciality Chemicals: revenue ₹560 crore, up 16% year-on-year. EBITDA rose 12% to ₹140 crore, a 25% margin. It’s still the largest profit pool, though its share of revenue slipped to 40% from 43%.
• Nutrition & Health Solutions: revenue ₹270 crore, up 50%. EBITDA jumped 87% to ₹39 crore, a 15% margin. Vitamin B3 volumes in food and cosmetics did a lot of the work.
• Chemical Intermediates: revenue ₹563 crore, up 24%. EBITDA rose 226% to ₹64 crore on better pricing, with acetic anhydride gaining share in Europe.

That last line is the one we’d underline. Chemical Intermediates is a commodity-linked business, and the company itself says firmer crude prices helped realisations while also raising input and utility costs. A 226% EBITDA jump off a low base can reverse just as fast if crude cools. Speciality Chemicals, the higher-margin piece, grew more slowly.

ZettaOne stake and the outlook

During the quarter, Jubilant Ingrevia agreed to buy a 40% stake in ZettaOne Technologies for ₹189.2 crore. That gives it a way into electronics development and manufacturing services, aimed at semiconductor and electronics customers. Management expects ZettaOne to grow at least 60-70% this year.

For FY27, the company expects growth in all three segments. It’s counting on acetyls in particular, helped by plant closures in Europe. A new multi-purpose plant for CDMO and fine chemicals is on track to start by year-end. Not everything is rosy, though. The press release says agrochemicals are still under pressure from Chinese overcapacity, and vitamin B3 prices in animal feed have softened in recent weeks.

What it means for the stock

The early 8% pop faded a bit. At the time of CNBC-TV18’s report the stock was up 4.1% at ₹631, and it was still down 12% for the year. So the market is rewarding the quarter but not yet re-rating the story.

The open question is how much of the margin gain comes from pricing tied to crude, and how much from mix. If you’re reading the filing yourself, the segment EBITDA table matters more than the headline profit. Our guide on how to analyse quarterly results covers that, and our post on consolidated vs standalone results explains why the consolidated numbers are the ones used here.

Disclaimer: This article is for information and education only and is not investment advice. Figures are taken from the company’s filing and the linked news report. Please do your own research or consult a SEBI-registered adviser before making any investment decision.