NSE: JGCHEM · BSE: 544138 · ISIN INE0MB501011
J.G.Chemicals Limited stock analysis
J.G.Chemicals Limited ranks #1671 in the TickerSutra evidence-ranked universe with a score of 51/100 and 89% data confidence. The latest captured fundamentals show ROCE of 18.1%, quarterly sales growth of 44.8% and quarterly profit growth of 59.0%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.01×
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹611cr | ₹57cr | ₹43cr | 9.0% |
| 2023 | ₹782cr | ₹76cr | ₹57cr | 10.0% |
| 2024 | ₹666cr | ₹46cr | ₹32cr | 7.0% |
| 2025 | ₹847cr | ₹87cr | ₹67cr | 10.0% |
| 2026 | ₹973cr | ₹82cr | ₹69cr | 8.0% |
| TTM | ₹1,071cr | ₹96cr | ₹78cr | 9.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
MANAGEMENT COMMENTARY
Signals from filed documents
Unlike OEM demand, it is supported by the growing vehicle population and usage intensity, offering recurring demand visibility irrespective of short-term production fluctuations. These trends, combined with significant capacity expansion announced by Indian tyre manufacturers, position JG Chemicals to benefit from incremental production volumes and increasing demand for technically consistent zinc oxide. Demand Creat
Competition from Low-Cost Unorganised Manufacturers Price-led competition across commoditised applica- tions may exert pressure on market dynamics in certain segments. Weakness in Global Industrial Demand Slowdown across automotive, infrastructure or industrial production could temporarily affect downstream zinc chemical consumption. Global Tariff And Trade Policy Uncertainty While the Company has no direct US exposu
The second driver is feedstock economics: our recycling- based model lets us capture the spread between low-cost scrap inputs and higher-value finished output, and this spread is the single largest contributor to our profitability. Going forward, with continued premiumisation and diversification of our product portfolio coupled with higher efficiency and operating leverage, we expect EBITDA margins to rise. Building
The footprint grows with the capacity. Dahej, close to the western ports, opens a faster route to export markets and a wider door to the world. Key Export Markets Europe South East Asia AmericasSAARC Region 26 J.
The Best Is Being Built JG Chemicals is entering what management believes is its most consequential growth phase. Capac- ity is set to scale from approximately 77,000 MTPA to over 122,000 MTPA by FY29 through the Dahej green- field facility, Naidupeta debottle- necking and continued expansion of the specialised product portfolio. Dahej, targeted for commissioning in Q3 FY27 Phase 1 has revenue po- tential of approxim
Margin Historically, our growth has been driven by volume. Going forward, product mix will be the key lever for margin expansion. We now manufacture more than 90 specialised zinc oxide grades, up from over 80 a year earlier, and as these premium grades represent a growing share of our sales, our blended margins should improve accordingly.
As manufacturers increasingly focus on premium products and export competitiveness, demand is expected to shift towards organised suppliers capable of delivering specialised grades. Demand Creation In Ceramics Urbanisation Housing & Infrastructure Ceramic Tiles & Sanitaryware Premium Product Demand Higher Demand for Zinc Oxide Morbi manufacturing cluster Export growth Premiumisation Infrastructure-led demand Urbani
Beyond agriculture, zinc sulphate is steadily gaining acceptance across pharmaceuticals, animal nutrition, water treatment and specialised industrial processes - broadening the addressable market while reducing dependence on any single application. As customers increasingly prioritise product quality, regulatory compliance and consistent technical performance, the Company's existing manufacturing expertise, customer
The details of the transaction with related parties during Financial Year 2025-26, are provided in the accompanying Financial Statements. The Policy on materiality of and dealing with RPTs as approved by the Board in terms of Regulation 23 of the SEBI Listing Regulations is posted on the website of the Company and can be accessed through the following link: https://jgchem.com/wp-content/ uploads/2026/07/JG-Policy-on-
After the members participating through VC/OAVM facility, eligible and interested to cast votes, have casted their votes, the e-voting will be closed with the formal announcement of the closure of the 25 th AGM of the Company. Institutional Investors who are Members of the Company, are encouraged to attend and vote in the 25th AGM of the Company through VC/OAVM facility. Members who need assistance before or during t
Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between net disposal proceeds and the carrying amount of the asset and is recognized in the standalone statement of profit and loss. (ii) Capital Work in Progress Capital work-in-progress is stated at cost which includes expenses incurred during construction period, interest on amount bor
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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