Jubilant Ingrevia Ltd

WOS formation

• Target: Jubilant Advanced Electronics Limited, a wholly-owned subsidiary.
• Incorporation date: 12 October 2026; ROC approved.
• Ownership: Jubilant Ingrevia to hold 100% equity.
• Industry/sector: electronics.
• Purpose/strategic rationale: not disclosed.
• Regulatory approvals: ROC approval obtained for incorporation.
• Consideration: not applicable; no external price disclosed.
• Turnover/background: not disclosed; no turnover data.
• Country of presence: not disclosed.

Jubilant Ingrevia Ltd: Trading Window closed from October 01, 2026 till 48 hours after announcement of Financial Results for the quarter and half year ending September 30, 2026 to the Stock Exchanges.

CP maturity record date

• Record date Dec 22, 2026 for maturity of Rs 100 crore CP, ISIN INE0BY014433, issued Sept 24, 2026.

Commercial Papers issuance

• Rs 100 crore Commercial Papers issued; listed on NSE.
• Tenure 90 days; maturity on December 23, 2026.
• Coupon 6.30% per annum; upfront interest paid.
• Security: Unsecured.
• Date of allotment: Sept 24, 2026; aggregate outstanding Rs 100 crore.
• Board-approved CP program up to Rs 600 crore outstanding.
• Trading symbol JUBLINGREA; listed on NSE.

AGM Details

• AGM held 26 August 2026 at 3:00 PM IST via VC/OAVM; concluded 4:17 PM.
• 82 members attended via VC; venue deemed at registered office.

Key Resolutions

• Adoption of standalone and consolidated financial statements for FY26.
• Final dividend of Rs 2.50 per equity share approved.
• Re-appointment of Shyam S. Bhartia as Director (retiring by rotation).
• Re-appointment of Priyavrat Bhartia as Director (retiring by rotation).
• Ratification of Cost Auditor's remuneration.

Voting Results

• Resolution 1 passed: 99.9966% in favour, 0.0034% against.
• Resolution 2 passed: 95.612% in favour, 4.388% against.
• Resolution 3 passed: 93.148% in favour, 6.852% against.
• Resolution 4 passed: 93.149% in favour, 6.851% against.
• Resolution 5 passed: 99.997% in favour, 0.003% against.

Dividend Details

• Final dividend of Rs 2.50 per equity share.

Directors

• Shyam S. Bhartia re-appointed as Director; eligible for re-appointment.
• Priyavrat Bhartia re-appointed as Director; eligible for re-appointment.

Auditor Matters

• Cost Auditor remuneration ratified.

Target overview

• Zettaone Technologies India Private Limited, India-based integrated electronics design and manufacturing platform.

Transaction

• Acquisition: 40% stake for INR 189.2 crore, cash consideration.
• Two-tranche completion: first by November 2026, second by September 2027.

Related party

• Not a related party; no promoter/group interest.

Industry

• Industry: Integrated electronics design and manufacturing.

Strategic rationale

• Aims to extend Jubilant Ingrevia into EDMS with electronics/semiconductor focus.

Regulatory approvals

• Regulatory approvals: Not required.

Target background

• Turnover in last three years: FY25-26 ₹98.1 Cr; FY24-25 ₹79.1 Cr; FY23-24 ₹51.1 Cr.

Post-transaction status

• Post-acquisition, Zettaone will become an associate of Jubilant Ingrevia.

Meeting Details

• 13–14 August 2026, in-person one-on-one meetings in Mumbai at Equirus Annual India Conference.
• August 2026: Conference 2026 investor meetings.

Participants

• Company management team to participate.

Purpose

• Participation in investor conference and one-on-one meetings.

Meeting Details

• Dates: 11–12 August 2026; time not specified.
• Mode: in-person, one-on-one; Location: Singapore.
• Event/organiser: Nuvama India; investor conference.
• Company participants: management team to participate.
• Purpose: investor/analyst one-on-one discussions.

Financial Performance

• Q1 FY27 revenue INR 1,300 crore; up 25% YoY; 15-quarter high.
• EBITDA INR 209 crore; up 36% YoY and 22% QoQ.
• PAT INR 106 crore; up 41% YoY and 22% QoQ.
• Specialty Chemicals revenue INR 533 crore; EBITDA INR 139 crore; margins 26%.
• Nutrition segment revenue INR 243 crore; EBITDA INR 36 crore; margins 15%.
• Pinnacle strategy driving revenue and EBITDA growth; sequential improvement expected.

CDMO and Pipeline

• CDMO/fine chemicals funnel: 100+ molecules; INR3,500+ crore peak revenue; 25+ confirmed molecules.
• Five new molecules added; peak potential not yet updated.
• Volumes paused by innovator due to raw-material price escalation; EBITDA still positive.
• EBITDA mix from specialty and nutrition remains 70%-80% of total.

Operational Highlights

• Niacinamide plant: 5,000 tonnes annual capacity; current 50% run rate; target 70%+ by year-end.
• Pyridine volumes steady; utilization 95%+; pricing holding in derivatives; captive usage rising.
• New multipurpose plant on track for commissioning by end of calendar year.
• Supernova program advancing with new Gen AI use cases.
• Lean-savings target: INR 100 crore in FY27; audits and safety milestones achieved.

Outlook and Capex

• FY27 EBITDA guidance unchanged at INR 750-800 crore.
• Growth to be led by Specialty Chemicals and Nutrition; acetyls recovery.
• Sequential revenue and EBITDA improvement expected over coming quarters.
• Investor Day feedback positive; Pinnacle execution reinforces growth potential.

Q&A Highlights

• CDMO contract volumes paused last quarter due to innovator pause from raw-material price escalation.
• Contract EBITDA expectations maintained; full protection covers earnings if volumes don’t materialize.
• CDMO funnel updated to 100+ molecules; 25+ confirmed; new opportunities after US visits.
• Five new molecules added; peak potential not yet updated for them.
• Nutrition pricing stable; Q2 volumes rising; inventory risk minimal; niacinamide plant running at 50% with 70% target by year-end.
• Base pyridines: captive usage rising; external sales not disclosed; pricing steady in derivatives.
• Power and fuel costs higher due to volume growth and Gulf crisis; logistics costs up; pricing pass-through.
• Large agro CDMO contract: no firm timeline for full volume visibility; plan for Q3 requires clarity within a month.
• Take-or-pay not applicable; contract protection exists; extension not guaranteed.

Notable Updates

• Remidex integration completed; evaluating new growth opportunities in electronics, semiconductors, cosmetics, nutrition.
• Gajraula facility earned a British Safety Council International Safety Award; Bharuch and Nira recognized.
• Great Place to Work certification; top 50 manufacturing companies.