This specialty chemicals firm has rallied 52% in 6 days; here's why

For Q1FY22, Jubilant Industries reported a consolidated net profit of Rs 21.85 crore as against a net loss of Rs 27.75 crore in Q4FY21 and a loss of Rs 2.72 crore in Q1FY21

Shares of Jubilant Industries hit a new high of Rs 596.75 and were locked in 10 per cent upper circuit for the second straight day on the BSE on Friday, with only buy orders visible on the counter.

The stock of the specialty chemicals firm were quoting higher for the sixth straight trading day and has rallied 52 per cent during the same period, after reporting a strong set of numbers for the quarter ended June 2021 (Q1FY22). Till 01:31 pm, a combined 133,000 equity shares had changed hands on the counter and there were pending buy orders for around 60,000 shares on the NSE and BSE, the exchanges data shows.

For Q1FY22, Jubilant Industries reported a consolidated net profit of Rs 21.85 crore compared with a net loss of Rs 27.75 crore posted in the March quarter (Q4FY21) and a loss of Rs 2.72 crore in the June quarter last year (Q1FY21).

The company’s revenue from operations more-than-doubled to Rs 211.12 crore from Rs 93.50 crore in the year-ago quarter. It had posted a revenue of Rs 195.82 crore in the previous quarter.

Jubilant Industries is the flagship company of agri and performance polymers business of the Jubilant Bhartia group. The company’s diversified portfolio includes a wide range of crop nutrition, crop growth and crop protection agri products and performance polymers products comprising consumer products like adhesives, wood finishes; food polymers and latex such as vinyl pyridine, SBR and NBR latex.