Jagatjit Inds. Q1 FY27 Results (BSE: 507155)
Signal: Loss narrowed
The read
The quarter marks an operating inflection after three consecutive quarters of sharply contracting margins: revenue recovered 49.7% YoY to 18,680 lakh and EBITDA turned positive at 426 lakh, primarily because Ethanol generated 654 lakh of segment profit, but finance cost of 730 lakh and a 110.5% rise in other expenses left consolidated PAT at -828 lakh; the turnaround remains dependent on sustained 200 KL/day Ethanol operations and funding support.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹186.8 Cr | 49.7% | 79.6% |
| EBIT | ₹-0.97 Cr | 68.5% | |
| Net profit | ₹0.11 Cr | 266.7% | |
| EPS | ₹-1.77 | 16.5% | |
| EBIT margin | 2.3% |
P&L walk
Revenue increased to 18,680 lakh, up 49.7% YoY and 79.6% QoQ, with Ethanol contributing 10,287 lakh and 654 lakh of segment profit; EBITDA recovered to 426 lakh from a 59 lakh loss, but finance cost of 730 lakh and unallocable costs of 463 lakh kept PAT at a loss of 828 lakh.
Segments
Ethanol is the clear driver, with revenue of 10,287 lakh versus nil YoY and segment result turning to a 654 lakh profit from a 1,655 lakh loss; Beverages remained loss-making at -118 lakh and Food at -161 lakh.
Key positives
- Ethanol revenue reached 10,287 lakh versus nil in Q1FY26, while Ethanol segment profit turned positive at 654 lakh from a 1,655 lakh loss, providing the main operating inflection.
- Consolidated EBITDA turned positive at 426 lakh from a 59 lakh loss YoY, taking EBITDA margin to 2.3% from -0.6%.
- Revenue increased 49.7% YoY to 18,680 lakh and 79.6% QoQ, reversing the prior quarter's 33.9% YoY decline.
Key concerns
- Consolidated PAT remained a loss of 828 lakh despite positive EBITDA because finance cost was 730 lakh and unallocable expenses were 463 lakh.
- Beverages revenue fell 35.0% YoY to 7,257 lakh and the segment remained loss-making at -118 lakh; Food also reported a -161 lakh result.
- Other expenses increased 110.5% YoY to 3,243 lakh, materially faster than revenue and constraining operating conversion.
- The company reports continued losses and negative net worth, with long-term viability dependent on stable Ethanol operations, margin improvement, private-equity funding, promoter contribution and asset monetisation.
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