Jubilant Agri and Consumer Products Limited (JUBLCPL)
₹1,854.40 -1.10% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Jubilant Agri's revenue was ₹523 Cr (+18.4% year on year, +7.9% on the previous quarter), and net profit ₹46.1 Cr (+4.8% year on year); the operating margin was 13.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹523 | +18.4% | +7.9% |
| Operating profit | ₹68.0 | +7.9% | +105.9% |
| Net profit | ₹46.1 | +4.8% | +130.5% |
| EPS (₹) | 30.43 | +3.9% | +131.4% |
| Operating margin | 13.0% | — | — |
JUBLCPL delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 61.97% of the JUBLCPL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 57.36%. That is close to its usual level. Turnover was only ₹78 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 49.4% · 51.2% · 58.7% · 74.3% · 62.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Jubilant Agri and Consumer Products Limited (JUBLCPL) announced progress on its proposed demerger scheme into Jubilant Agri Solutions Limited (JASL). The Hon'ble NCLT Allahabad Bench, via an order dated October 08, 2026, directed the issuance of notices to statutory and regulatory authorities under Section 230(5) of the Companies Act, 2013. The NCLT has scheduled the next hearing for December 03, 2026, to review representations or objections.
- NCLT Allahabad Bench issued order on October 08, 2026, regarding the second motion petition for demerger.
- Order directs notices under Section 230(5) of the Companies Act, 2013 to relevant statutory authorities.
- Next NCLT hearing in the demerger matter scheduled for December 03, 2026.
CARE Ratings Limited has reaffirmed Jubilant Agri and Consumer Products Limited's credit ratings for its bank facilities totalling ₹625.00 crore. The Long Term/Short Term Bank Facilities stand reaffirmed at 'CARE A+; Stable / CARE A1+'. Additionally, a separate Long Term Bank Facility rating was withdrawn. The rated debt size of ₹625.00 crore represents approximately 65.3% of the company's TTM revenue of ₹957 crore.
- CARE Ratings reaffirmed ratings on bank facilities amounting to ₹625.00 crore
- Long Term / Short Term rating maintained at 'CARE A+; Stable / CARE A1+'
- Previous separate Long Term Bank Facilities rating has been withdrawn
- Rated debt of ₹625.00 crore equals ~65.3% of TTM revenue of ₹957 crore
Unsecured creditors of Jubilant Agri and Consumer Products Limited (JUBLCPL) have unanimously approved the proposed Scheme of Arrangement for the demerger of its Agri Business into Jubilant Agri Solutions Limited. In the NCLT-convened meeting held on September 05, 2026, all 24 unsecured creditors present, representing a debt value of Rs 12.59 crore, voted 100% in favour of the resolution. The meeting was conducted via poll pursuant to an NCLT Allahabad Bench order dated July 08, 2026. This approval achieves a critical statutory milestone in separating the agricultural inputs vertical from the performance polymers and consumer business.
- 100% of votes cast in value and number were in favour of the demerger resolution.
- 24 unsecured creditors holding debt worth Rs 12.59 crore participated and voted in the meeting.
- The meeting was convened following the Hon'ble NCLT Allahabad Bench order dated July 08, 2026.
- Largest voting creditors included Jubilant Ingrevia Ltd (Rs 6.16 cr) and Macro Polymer (Rs 1.28 cr).
Jubilant Agri and Consumer Products Limited (JUBLCPL) announced that its equity shareholders have approved the Scheme of Arrangement for the demerger of its Agri Business into Jubilant Agri Solutions Limited at the NCLT-convened meeting held on September 05, 2026. The special resolution was passed overwhelmingly with 99.99% of polled votes in favour (1,16,36,273 votes) and only 597 votes against. Out of 1,51,52,493 total outstanding shares, 1,16,36,870 shares were polled, representing a 76.80% voter turnout. The demerger aims to separate the farm-input business to allow dedicated focus on higher-margin Performance Polymers and Adhesives.
- Shareholders approved the demerger scheme with 99.9949% votes in favour (1,16,36,273 shares).
- Only 597 shares (0.0051%) voted against the proposed restructuring scheme.
- Overall voting turnout was 76.80% across 1,16,36,870 polled shares out of 1,51,52,493 total shares.
- Meeting was convened pursuant to the Hon'ble NCLT Allahabad Bench order dated July 08, 2026.
Jubilant Agri and Consumer Products Limited (JUBLCPL) conducted its Hon'ble NCLT-convened meeting of unsecured creditors on September 05, 2026. The meeting was held to consider and vote on the proposed Scheme of Arrangement for the demerger of its agri-business into Jubilant Agri Solutions Limited. A total of 24 unsecured creditors attended the meeting in person, via proxies, or through authorized representatives. The voting results on the resolution will be declared separately upon receipt of the Scrutinizer's report.
- NCLT-convened meeting of unsecured creditors held on September 05, 2026, pursuant to NCLT order dated July 08, 2026
- 24 unsecured creditors attended the meeting in person, through authorized representatives, or via valid proxies
- Meeting deliberated and conducted voting by poll on the Scheme of Arrangement for Demerger between JUBLCPL and Jubilant Agri Solutions Limited
- Formal voting results to be submitted to stock exchanges following the scrutinizer's compilation
Jubilant Agri and Consumer Products Limited (JUBLCPL) conducted an NCLT-convened equity shareholders meeting on September 05, 2026, to approve the Scheme of Arrangement for demerging its agri-business into Jubilant Agri Solutions Limited. A total of 47 equity shareholders attended the meeting, comprising 17 in-person or authorized representatives and 30 by proxy. Remote e-voting was held from September 02 to September 04, 2026, supplemented by a physical poll at the venue. Combined voting results and the scrutinizer report will be declared and submitted to the stock exchanges separately.
- NCLT-convened shareholder meeting conducted on September 05, 2026, for the proposed demerger scheme.
- Proposed scheme demerges the agri-business into Jubilant Agri Solutions Limited.
- A total of 47 equity shareholders attended the meeting (17 in person/reps and 30 by proxy).
- Remote e-voting completed across September 02–04, 2026; formal scrutinizer voting results to follow.
Jubilant Agri and Consumer Products Limited (JUBLCPL) concluded its 18th Annual General Meeting on September 01, 2026, conducted via video conferencing. A total of 66 shareholders attended the meeting, and all 4 ordinary resolutions were passed with requisite majority. The approved items include adoption of FY26 audited standalone and consolidated financial statements, re-appointment of Director Mr. Priyavrat Bhartia, commission payment to Independent Directors, and ratification of Cost Auditor remuneration. Total votes polled stood at 1,14,19,154 shares, representing a 75.36% voter turnout across share capital.
- All 4 ordinary resolutions approved with ~100% votes in favour
- Total voter turnout of 75.3616% with 1,14,19,154 votes polled out of 1,51,52,493 total shares
- 66 shareholders attended the meeting held via Video Conferencing on September 01, 2026
- Adoption of FY26 standalone and consolidated financial statements approved unanimously (100% votes in favour)
Jubilant Agri and Consumer Products Limited has received a Show Cause Notice (SCN) from the Central GST (Audit) Commissionerate, Ludhiana, proposing a GST demand of ₹5.09 Cr. The notice alleges non-payment of 18% GST on supplies worth ₹28.28 Cr reflected in an internal memorandum ledger ('Invoices to be Sent') across FY21 to FY24. The company has stated that the notice is based on an incorrect interpretation of facts, anticipates no financial impact, and will submit a detailed reply to contest the demand. The disputed tax amount represents approximately 5.8% of TTM PAT (₹88 Cr).
- Proposed GST demand of ₹5,09,04,134 (₹5.09 Cr) covering FY 2020-21 to FY 2023-24
- Demand pertains to 18% GST on ₹2,828.00 lakhs reported in a memorandum general ledger
- SCN received from Principal Commissioner – Central GST (Audit) Commissionerate, Ludhiana on August 18, 2026
- Company plans to contest the demand on merits and anticipates no adverse financial liability
JUBLCPL reported a strong 18% YoY revenue growth to Rs 523.2 Cr in Q1 FY27, primarily driven by a 27% surge in its Performance Polymers & Chemicals segment. While PAT grew 4% to Rs 46.1 Cr, EBITDA margins contracted by 135 bps to 13.0% due to higher input costs and a weak monsoon impacting the Agri segment. The company is executing a Rs 50 Cr brownfield expansion to add 30,000 MTPA capacity for SBR Latex, with completion expected by Q3 FY27. Furthermore, the demerger of the Agri business is progressing, with a court-convened meeting scheduled for September 05, 2026.
- Consolidated revenue increased 18% YoY to Rs 523.2 Cr in Q1 FY27
- Performance Polymers & Chemicals segment revenue grew 27% to Rs 381.5 Cr
- Rs 50 Cr brownfield capex sanctioned for 30,000 MTPA capacity addition at Vadodara
- Agri business EBIT declined 52% YoY to Rs 6.4 Cr due to subdued demand from uneven monsoons
- NCLT directed a meeting of shareholders and creditors on September 05, 2026, for the Agri business demerger
JUBLCPL reported a strong 19.5% YoY growth in revenue to ₹518.80 Cr for Q1 FY27, driven by a 29.8% surge in the Performance Polymers & Chemicals segment. Net profit grew 7.5% YoY to ₹45.53 Cr, despite a significant 40% increase in raw material costs which reached ₹318.95 Cr. A key development is the NCLT-directed meeting on September 5, 2026, to approve the demerger of the Agri Division into a separate entity. The company's Q1 revenue alone represents approximately 62.8% of its previously reported TTM revenue, indicating a sharp scale-up.
- Revenue from operations increased 19.5% YoY to ₹518.80 Cr from ₹434.12 Cr.
- Net Profit rose to ₹45.53 Cr compared to ₹42.35 Cr in the corresponding quarter of the previous year.
- Performance Polymers & Chemicals segment revenue grew to ₹394.02 Cr, now contributing 76% of total segment revenue.
- NCLT order dated July 8, 2026, mandates shareholder and creditor meetings on September 5, 2026, for the Agri Division demerger.
- Cost of materials consumed spiked to ₹318.95 Cr from ₹227.83 Cr YoY, reflecting input cost pressures.
Jubilant Agri and Consumer Products Limited (JUBLCPL) has granted 26,367 stock options to eligible employees under its 2018 ESOP scheme. The options are priced at a face value of ₹10 per share, which is a significant discount to the current market price of ₹1848.8. These options will vest on the third anniversary of the grant (August 2029) and have an exercise period of 8 years. Given the small number of options relative to typical share capital, the immediate dilutive impact is negligible.
- Grant of 26,367 stock options to eligible employees under the JACPL ESOP Scheme 2018.
- Exercise price fixed at ₹10 per option, significantly below the market price of ₹1848.8.
- Vesting period set for 3 years from the grant date of August 11, 2026.
- Exercise window remains open for 8 years from the grant date.
- Each option is convertible into one equity share of face value ₹10.
Jubilant Agri and Consumer Products Limited (JUBLCPL) has announced its 18th Annual General Meeting (AGM) for September 01, 2026. The company has dispatched the Annual Report for FY 2025-26 to shareholders, including physical letters with QR codes for those without registered email addresses. Key dates for investors include a voting cut-off on August 25 and an e-voting period from August 29 to August 31. As of March 31, 2026, 62,930 shares remain in a Demat Suspense Escrow account due to unclaimed status.
- 18th Annual General Meeting scheduled for September 01, 2026, at 11:00 A.M. via Video Conferencing.
- Cut-off date for determining e-voting eligibility is Tuesday, August 25, 2026.
- Remote e-voting window is open from August 29, 2026 (09:00 A.M.) to August 31, 2026 (05:00 P.M.).
- 62,930 equity shares belonging to 1,980 shareholders are currently in a Demat Suspense Escrow account.
- TTM Revenue stands at Rs 825 Cr with a PAT of Rs 57 Cr as per provided financial context.
Jubilant Agri and Consumer Products Limited (JUBLCPL) has issued a notice for its 18th Annual General Meeting (AGM) to be held on September 1, 2026. The filing includes audited FY26 financials, showing a 20.5% revenue growth to ₹1,857.18 cr and a 43.8% surge in Profit After Tax (PAT) to ₹127.64 cr. Key agenda items include the re-appointment of Director Priyavrat Bhartia and approval of commissions for Independent Directors capped at ₹5 lakh each per annum. The company also reported a significant reduction in finance charges, which halved to ₹6.57 cr in FY26.
- FY26 Revenue from operations reached ₹1,857.18 cr, a 20.5% increase from ₹1,540.56 cr in FY25
- Profit After Tax (PAT) for FY26 grew to ₹127.64 cr, up 43.8% from ₹88.72 cr in the previous year
- Finance charges decreased by 51% to ₹6.57 cr in FY26 from ₹13.46 cr in FY25
- Proposed commission for three Independent Directors set at a maximum of ₹5,00,000 each per annum
- Cost Auditor remuneration for FY27 proposed at ₹2,00,000 plus applicable taxes
Jubilant Agri and Consumer Products Limited (JUBLCPL) has scheduled a meeting of its unsecured creditors on September 05, 2026, to seek approval for the demerger of its Agri-business into Jubilant Agri Solutions Limited. This follows the NCLT Allahabad Bench order dated July 08, 2026, and previous 'no objection' clearances from BSE and NSE in April 2026. The restructuring is a strategic move to separate the volatile agri-business from the high-margin Performance Polymers segment, which currently contributes to a TTM revenue of Rs 825 Cr. Creditors with outstanding debt exceeding Rs 1,00,000 as of March 31, 2026, are eligible to participate in the voting process.
- Meeting of unsecured creditors scheduled for September 05, 2026, at 12:30 PM in Gajraula, UP.
- Notices dispatched to creditors with outstanding debt exceeding Rs 1,00,000 as of the March 31, 2026 cut-off date.
- BSE and NSE issued 'no objection' letters for the proposed scheme on April 17, 2026.
- The demerger involves transferring the Agri-business to the resulting company, Jubilant Agri Solutions Limited.
- Fairness opinion and share entitlement reports for the scheme were finalized on November 01, 2025.
Jubilant Agri and Consumer Products Limited (JUBLCPL) has scheduled an NCLT-convened meeting on September 05, 2026, to seek shareholder approval for the demerger of its agri-business into Jubilant Agri Solutions Limited (JASL). This follows the NCLT order dated July 08, 2026, and previous 'no objection' clearances from BSE and NSE in April 2026. The demerger is a strategic move to separate the agri-business from the high-margin Performance Polymers and Adhesives segment. Shareholders as of the August 06, 2026, cut-off date are eligible to participate in the voting process.
- Shareholder meeting scheduled for September 05, 2026, at 11:30 A.M. in Gajraula, UP.
- Cut-off date for voting eligibility is set for August 06, 2026.
- Remote e-voting window opens on September 02, 2026, and closes on September 04, 2026.
- The demerger follows the NCLT Allahabad Bench order dated July 08, 2026.
- BSE and NSE provided their 'no objection' letters for the scheme on April 17, 2026.
Financial Performance
Revenue Growth by Segment
The company's Total Operating Income grew at a CAGR of 26% between FY21 and FY25. In FY22, the Agriculture business (SSP and Sulphuric Acid) contributed 42% of revenue, while the Performance Polymers and Consumer Products division contributed 58%. Revenue in FY22 reached INR 1,166 Cr, representing a massive 87% YoY growth from INR 622 Cr in FY21, driven by volume expansion and higher fertilizer realizations.
Geographic Revenue Split
The Ramban fertilizer brand holds a healthy market share specifically in Uttar Pradesh and Uttarakhand. While a specific percentage split for all regions is not disclosed, the company operates manufacturing facilities in Gajraula (UP) and Savli (Gujarat), indicating a strong domestic focus in Northern and Western India.
Profitability Margins
Operating profitability has historically ranged between 8-9%. Net Profit (PAT) margin stood at 4.6% in FY22 (INR 54 Cr) compared to a negative margin of -1.5% (INR -9 Cr loss) in FY21. The improvement was driven by better absorption of fixed costs following the 87% revenue surge.
EBITDA Margin
The PBILDT margin improved to 9.5% in FY25 from 8.5% in FY21. This 100 bps expansion was aided by raw material cost moderation and a shift toward higher-margin consumer products (CPD) and performance polymers, which together with VP latex accounted for 84% of total EBITDA in FY25.
Capital Expenditure
The Board approved a CAPEX of INR 50 Cr in November 2025 for the Savli, Vadodara site. This investment is intended to expand the Performance Polymers and Chemical segment capacity by 30,000 MT per annum to meet increasing market demand.
Credit Rating & Borrowing
The company holds a 'CARE A+; Stable / CARE A1+' rating as of October 2025. Borrowing costs are linked to market rates; interest coverage was robust at 6.7 times in FY22, up from 3.25 times in FY21, reflecting significantly reduced financial risk.
Operational Drivers
Raw Materials
Key raw materials include Vinyl Acetate Monomer (VAM) for polymers, and Rock Phosphate and Sulphur for the fertilizer segment. Raw material costs represent approximately 60% of total revenue, making profitability highly sensitive to global commodity cycles.
Import Sources
A sizeable portion of raw materials is imported, exposing the company to international price benchmarks and shipping logistics. While specific countries are not listed, the reliance on imports necessitates significant foreign exchange management.
Key Suppliers
Not specifically disclosed in the available documents; however, the company notes it benefits from long-standing relationships and receives longer credit periods from its supplier base.
Capacity Expansion
Current capacity is being augmented by a planned expansion of 30,000 MT per annum at the Savli (Gujarat) facility for Performance Polymers. This expansion leverages existing infrastructure to improve operating efficiency.
Raw Material Costs
Raw material costs account for 60% of revenue. In FY24-25, moderation in raw material prices helped stabilize PBILDT margins at 9.5%. The company has limited ability to pass on sudden spikes in VAM or Rock Phosphate prices in the consumer segment due to intense retail competition.
Manufacturing Efficiency
The company is focusing on leveraging existing infrastructure at Savli to bring overall cost and operating efficiency. Capacity utilization is supported by a 26% CAGR in sales volumes over the last four years.
Logistics & Distribution
The company maintains an extensive dealer network for its Jivanjor and Ramban brands. Distribution costs are a key factor in the consumer segment where brand differentiation and availability are critical for market share.
Strategic Growth
Expected Growth Rate
26%
Growth Strategy
Growth will be achieved through the demerger of the agri-business to allow a specialized focus on the high-margin Performance Polymers and Adhesives segment. The company is investing INR 50 Cr to add 30,000 MTPA capacity in Gujarat and is strengthening its dealer network for consumer brands like Jivanjor and Charmwood to increase retail penetration.
Products & Services
Single Super Phosphate (SSP) fertilizer, Sulphuric Acid, Solid Polyvinyl Acetate (SPVA), VP Latex, Wood Adhesives, and Wood Finishes.
Brand Portfolio
Jivanjor (Adhesives), Charmwood (Wood Finishes), Ultra Italia (Premium Finishes), and Ramban (Fertilizers).
New Products/Services
The company is diversifying the agri-business into bulk fertilizers and agri-nutrients post-demerger to capture a wider share of the farm-input market.
Market Expansion
Expansion is focused on the Western region via the Savli plant expansion and deepening the retail presence of consumer brands across India.
Market Share & Ranking
JACPL holds a leading market position in Solid Polyvinyl Acetate (SPVA) and Vinyl Pyridine (VP) Latex in India.
Strategic Alliances
The company operates as a key subsidiary of the Jubilant Bhartia Group (JBG), receiving strategic and financial support, including INR 42 Cr equity infusion and INR 56 Cr in inter-corporate deposits in previous years.
External Factors
Industry Trends
The industry is shifting toward high-performance polymers and specialized agri-nutrients. The SSP fertilizer market is growing due to government focus on balanced soil nutrition, while the wood adhesives market is seeing a shift toward branded, high-quality products.
Competitive Landscape
Intense competition exists from large incumbents in the consumer adhesive segment (e.g., Pidilite) and from both organized and regional players in the SSP fertilizer market.
Competitive Moat
The moat is built on market leadership in SPVA/VP Latex and strong brand recall for 'Jivanjor'. These are sustainable due to high switching costs in industrial applications and an established distribution network of thousands of dealers that is difficult for new entrants to replicate.
Macro Economic Sensitivity
The Agri-business is highly sensitive to monsoon performance and government subsidy policies. A 10% change in subsidy realizations can significantly impact the working capital cycle of the fertilizer segment.
Consumer Behavior
There is an increasing trend toward premium wood finishes (Ultra Italia) and branded adhesives as consumers move away from unbranded local alternatives.
Geopolitical Risks
Trade barriers or supply disruptions in countries exporting Rock Phosphate or VAM could increase procurement costs and lead to production bottlenecks.
Regulatory & Governance
Industry Regulations
Operations are heavily influenced by the Department of Fertilizers' subsidy policies and environmental regulations regarding the handling of Sulphuric Acid and chemical manufacturing standards.
Environmental Compliance
The company operates in the chemical and fertilizer sectors, requiring strict adherence to pollution control norms at its Gajraula and Savli plants. Compliance is managed through internal controls and regular audits.
Taxation Policy Impact
The company is subject to standard Indian corporate tax rates; current tax liabilities stood at INR 306.29 Cr in the FY25 balance sheet.
Legal Contingencies
The company has disclosed pending litigations in Note 40 of its financial statements. While specific values are not detailed in the summary, the management believes they will not have a material adverse impact on the financial position.
Risk Analysis
Key Uncertainties
Volatility in VAM and Rock Phosphate prices (60% cost base) and monsoon dependency for the 42% revenue-contributing agri-segment are the primary uncertainties.
Geographic Concentration Risk
There is a concentration of fertilizer sales in Uttar Pradesh and Uttarakhand, making the agri-revenue highly dependent on the agricultural economy of Northern India.
Third Party Dependencies
Dependency on global suppliers for VAM and Rock Phosphate is high, as these are critical raw materials with limited domestic availability.
Technology Obsolescence Risk
The company is mitigating technology risks by investing INR 50 Cr in new manufacturing facilities and focusing on R&D for performance polymers.
Credit & Counterparty Risk
Receivables quality is considered adequate; however, the fertilizer segment is subject to delays in government subsidy payments, which can stretch the working capital cycle.
