What should investors do with Jubilant Ingrevia shares post Q2 results?

Specialty chemicals company Jubilant Ingrevia reported its second quarter (Q2FY26) results on Monday, after market hours. At 9:57 AM, Jubilant Ingrevia share price was trading 1.02 per cent lower at ₹670.5 per share. In comparison, BSE Sensex was down 0.05 per cent at 84,738.01.

 

In Q2, the company reported a flat growth in profit after tax (PAT) at ₹69.47 crore in Q2FY26, as compared to ₹59 crore year-on-year (Y-o-Y), up 18 per cent. However, sequentially the net profit declined 7 per cent from ₹75 crore in Q1FY26.

 

Its revenue from operations rose 8 per cent to ₹1,109.66 crore in Q2, from ₹1,029 crore a year ago. 

 

 

The Earnings before interest, tax, depreciation and amortisation (Ebitda) stood at ₹146 crore, as against ₹135 crore Y-o-Y, up 8 per cent. However, on a quarter-on-quarter (Q-o-Q) basis, Ebitda declined 5 per cent from ₹153 crore. 

 

The company’s Ebitda margin was flat at 13 per cent on a Y-o-Y basis, but declined Q-o-Q from 15 per cent in Q1FY26.   CATCH STOCK MARKET UPDATES LIVE

Should you buy or sell Jubilant Ingrevia stock?

Nuvama Institutional Equities has maintained ‘Buy’ on the Jubilant Ingrevia shares and has raised the target to ₹971 per share from ₹ 910 on an SotP valuation basis. The brokerage also marginally tweaked FY26E/27E/28E earnings per share (EPS) by 5.5 per cent/1.5 per cent/1.6 per cent.

 

According to the brokerage, the company posted a modest Q2FY26, along expected lines. Growth and profitability were led by specialty chemicals (sales up 12 per cent Y-o-Y). The profitability of the nutrition and chemical intermediates portfolio was strained largely due to pricing.

 

Further, management reiterated their FY30 Ebitda guidance of ₹2,000 crore, underpinned by expanding specialty traction, improving product mix, and cost optimisation. FY26 capex of ₹6,000 crore—entirely funded through internal accruals—shall focus on specialty and nutrition, accounting for 70 per cent of total investments.   ALSO READ | Weak Q2 fails to shake analysts' faith in Supreme Industries; here's why 

Jubilant Ingrevia was carved out from Jubilant Life Sciences. Its business is classified into three segments: specialty chemicals, nutrition and health solutions, and chemical intermediates. The company has more than four decades of chemistry experience and an integrated operation offering more than 350 products ranging from speciality chemicals, advanced stage complex chemistry solutions, nutraceuticals, straight nutritional ingredients such as Vitamin B3, premix solutions for animal and human nutrition, pyridine and picolines, and acetyl range of products to more than 1,400 customers globally. Jubilant Ingrevia is a prominent player in pyridine-based chemistries. It’s a global player across the pyridine, picolines and acetyl value chain with integrated operations.