Jubilant Inds records net loss of Rs 3 cr in Q1 FY21

Jubilant Industries tumbled 4.07% to Rs 151 after the company reported a consolidated net loss of Rs 3.10 crore in Q1 June 2020 as against net profit of Rs 9.55 crore in Q1 June 2019.

Net sales during the quarter slumped 37.9% year-on-year (YoY) to Rs 94.32 crore. On the segmental front, revenue from agro products stood at Rs 54.32 crore (up 9.9% YoY) while the revenue from performance polymers stood at Rs 40.31 crore (down 60.9% YoY) in June 2020.

On the technical front, the stock is currently trading below its 5-day and 10-day simple moving averages (SMA) placed at 151.57 & 157.70, respectively. However, the scrip has managed to continue to trade above its 200-day SMA placed at 113.34.

The scrip's RSI (relative strength index) stood at 52.509. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

Jubilant Industries' 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, styrene butadiene rubber (SBR) and nitrile butadiene rubber (NBR) latex.

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