Jayant Agro Q1 FY27: consol. PAT +26% YoY to ₹20.6 Cr, margins expand on castor oil strength
PAT +26.09% YoY · revenue +18.51% · margins expanding
₹796.61 Cr
+18.51% YoY
₹20.63 Cr
+26.09% YoY
2.58%
+0.1pp YoY
₹6.69
Jayant Agro-Organics' consolidated Q1 FY27 (quarter ended June 30, 2026) results show revenue from operations of ₹796.61 Cr, up 18.5% YoY from ₹672.17 Cr, and consolidated PAT (post JV share) of ₹20.63 Cr, up 26.1% YoY from ₹16.36 Cr. Profit growth outpaced revenue growth, with NPM expanding to 2.59% from 2.43% and operating margin (PBT+finance+depreciation/revenue) widening to roughly 5.09% from 4.84% a year ago. Sequentially, revenue rose 23.2% over Q4 FY26's ₹646.66 Cr and PAT rose 12.9% over ₹18.26 Cr, but both margins compressed QoQ (NPM 2.83%→2.59%, OPM 5.36%→5.09%) — for a commodity-linked agri-derivatives business the QoQ jump likely reflects seasonal castor-oil demand/pricing swings rather than a structural step-up, so the YoY read is the one that matters.
Q1 FY-2027 vs prior quarters
The Castor Oil segment was the standout, with revenue up 29.0% YoY to ₹443.74 Cr and segment profit up 63.7% YoY to ₹6.53 Cr, while Castor Oil Derivatives — the larger profit contributor — grew revenue a slower 7.4% YoY to ₹351.62 Cr with segment profit up 21.3% YoY to ₹27.37 Cr. Finance costs rose 31.0% YoY to ₹6.91 Cr and consolidated total assets grew 24.8% YoY to ₹1,295.14 Cr, partly reflecting Vithal Castor Polyols Pvt Ltd's conversion from joint venture (up to May 20, 2026) to a full subsidiary (from May 21, 2026) mid-quarter — this structural change inflates the QoQ jump in Castor Oil segment assets (₹621.14 Cr vs ₹349.91 Cr in Q4 FY26) and explains why the JV profit-share line (₹10.54 lakh) is now marginal rather than a running contributor.
The stock went into the print at ₹230, up 9.7% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 6 quarters.
We found no analyst consensus or brokerage preview on record for this small-cap filing, and management has issued no prior formal guidance or concall commentary in our records, so both vsStreet and vsGuidance are unknown rather than beat/miss. Standalone PAT of ₹19.63 Cr (+21.0% YoY from ₹16.23 Cr) tracked broadly in line with consolidated, showing no material standalone-consolidated divergence. Separately, the board also declared a 70% (₹3.50/share) dividend with an August 7, 2026 record date, and approved governance changes — appointment of Nilesh Bhadrakumar Shah as an independent director and redesignation of long-time Company Secretary Dinesh Kapadia to Whole-Time Director, with Krunal Veni stepping in as the new CS — none of which affect this quarter's P&L.
W1
NPM/OPM sustainability once the Q1 seasonal tailwind fades — Q1 FY27 NPM was 2.59% vs Q4 FY26's 2.83%; watch the Q2 FY27 print.
W2
Castor Oil Derivatives growth reacceleration — the segment carries most segment profit (₹27.37 Cr this quarter) but grew only 7.4% YoY vs Castor Oil segment's 29.0%.
W3
Full-quarter impact of Vithal Castor Polyols as a subsidiary (vs partial-quarter JV this print) on consolidated segment assets and margins in Q2 FY27.