514448

Jyoti Resins share price & financials

Price
₹1,012.65
Market cap
₹1.0k Cr
Sector
Chemicals
Calls analysed
7
Latest concall · Q1 FY27 · call held 11 Aug 2026

Jyoti Resins Q1 FY27

EBITDA Margin 14.4%

What went well

  • Revenue growth of 17% in Q1 FY27, with 10% contributed by volumes.
  • Capacity expansion from 2,000 to 3,500 tons per month nearing completion (80% done, ready in 1-2 months).
  • Registered carpenter base increased to 210,000.

What to watch

  • Q1 FY27 EBITDA margin impacted, standing at 14.4% due to sharp spikes in crude prices and freight rates affecting raw material costs.
  • Receivables days are currently above 150 days, with a target to bring them down to 120 days within 2-3 quarters.
Read the full call →

What Jyoti Resins does

Jyoti Resins and Adhesives Ltd manufactures synthetic resin (wood) adhesives at its plant in Santej, Gandhinagar/Ahmedabad, Gujarat, sold under the retail brand Euro 7000 (white glue) and the industrial Euro EWR range (Eco Grade, Max, E3+) for furniture and heavy-duty bonding applications. The business is carpenter-led: carpenters recommend the adhesive to dealers and end-consumers, so the company runs a branch-and-distributor network reaching retailers directly rather than selling only through wholesale channels. It also runs a carpenter loyalty/redemption programme (gifts, bank transfers) to build repeat usage and brand stickiness. A second (greenfield) manufacturing facility is being set up in Gujarat to support future capacity.

Segments

  • Retail (Euro 7000)
  • Industrial (Euro EWR)
States serviced
14
Branches/warehouses
54
Distributors
65
Retailers served
13,000
Carpenters registered (loyalty programme)
350,000+
Active carpenters (repeat purchases)
200,000+
Founded 1994Headquarters Ahmedabad, Gujarat, IndiaEmployees 510 (FY2024-25 (annual report) Company website

Guidance record · Q1 FY27

what the last two calls moved 16 tracked 0 delivered 3 missed 13 open
  • FY25 Volume Growth missed said Q3 FY25 Promised: 20% volume growth for FY25 Q1 FY27: No new information on this historical target.
  • Long-term Revenue Target delayed said Q3 FY25 Promised: Rs. 500 crores of revenue till 2027 Q1 FY27: For the '29, we can consider for the INR 500 crore revenue. (Timeline pushed from FY27/FY28 to FY29)
  • Long-term EBITDA Margin on track said Q3 FY25 Promised: 25% of EBITDA for the longer term Q1 FY27: Q1 margin dropped to 14.4% due to RM costs, but management reiterated long-term guidance of 22-25%.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 17.3%, net profit down 29.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue65 71 79 75 74 +14%72 +1%93 +18%88 +17%
EBITDA19 22 24 21 20 +5%19 −14%25 +4%13 −38%
Net profit16 19 20 17 17 +6%15 −21%20 +0%12 −29%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −32.0% 1Y

₹0.8k₹1.0k₹1.2kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 13 Nov 2025Q3 FY26 — 10 Feb 2026Q4 FY26 — 8 May 2026Q1 FY27 — 11 Aug 2026

1Y: ₹1,269.45 on 10 Sept 2025 → ₹863.85. High ₹1,295.05 (19 Sept 2025), low ₹703.7 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−5.9%
11 Aug
Q4 FY26
−1.6%
8 May
Q3 FY26
−6.5%
10 Feb
Q2 FY26
−0.5%
13 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 6.2% a year over 3 years, FY23 to FY26. Operating margin widened to 27.1%.

Year endingFY23FY24FY25FY26
Revenue₹262 Cr₹257 Cr₹284 Cr₹314 Cr
Operating profit₹60 Cr₹84 Cr₹88 Cr₹85 Cr
Operating margin22.9%32.7%31.0%27.1%
Interest₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Depreciation₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Net profit₹46 Cr₹67 Cr₹74 Cr₹69 Cr
Net margin17.6%26.1%26.1%22.0%
ROCE73.0%66.0%50.0%36.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹4 Cr₹4 Cr₹12 Cr₹12 Cr₹12 Cr₹12 Cr
Reserves₹40 Cr₹59 Cr₹94 Cr₹154 Cr₹241 Cr₹277 Cr
Borrowings₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other liabilities₹100 Cr₹89 Cr₹105 Cr₹125 Cr₹129 Cr₹137 Cr
Total liabilities₹144 Cr₹152 Cr₹211 Cr₹292 Cr₹382 Cr₹426 Cr
Fixed assets₹39 Cr₹46 Cr₹47 Cr₹48 Cr₹49 Cr₹50 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹3 Cr₹0 Cr₹0 Cr₹0 Cr₹4 Cr₹47 Cr
Other assets₹102 Cr₹105 Cr₹163 Cr₹243 Cr₹329 Cr₹329 Cr
Total assets₹144 Cr₹152 Cr₹211 Cr₹292 Cr₹382 Cr₹426 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters added +3.54 pp while the public trimmed −2.37 pp. The shareholder count shrank 8% to 44,791.

Promoters
54.4%
FIIs
0.1%
DIIs
0.1%
Public
45.5%

Since Jun 2025

  • Promoters +3.54 pp
  • Public −2.37 pp
  • DIIs −1.14 pp

How it drifted, 12 quarters

Over this window promoters went from 50.8% to 54.4% — +3.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 50.8%, FIIs 0.5%, Public 48.7%.Dec '23: Promoters 50.8%, FIIs 0.3%, Public 48.9%.Mar '24: Promoters 50.8%, FIIs 0.3%, DIIs 0.1%, Public 48.8%.Jun '24: Promoters 50.8%, FIIs 0.3%, DIIs 0.1%, Public 48.8%.Sep '24: Promoters 50.8%, FIIs 0.3%, DIIs 0.4%, Public 48.4%.Dec '24: Promoters 50.8%, FIIs 0.1%, DIIs 0.5%, Public 48.5%.Mar '25: Promoters 50.8%, FIIs 0.1%, DIIs 0.8%, Public 48.3%.Jun '25: Promoters 50.8%, FIIs 0.1%, DIIs 1.2%, Public 47.9%.Sep '25: Promoters 53.9%, FIIs 0.0%, DIIs 0.9%, Public 45.1%.Dec '25: Promoters 53.9%, FIIs 0.0%, DIIs 1.0%, Public 45.0%.Mar '26: Promoters 54.4%, FIIs 0.1%, DIIs 0.4%, Public 45.1%.Jun '26: Promoters 54.4%, FIIs 0.1%, DIIs 0.1%, Public 45.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Jyoti Resins above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Jagdish Nathalal Patel 22.25%unchanged
Jyotika Jagdish Patel 10.81%unchanged
Priyanka Utkarshkumar Patel 10.56%unchanged
Utkarshkumar Jagdishbhai Patel 10.38%unchanged
Udita Tapan Patel 6.02%unchanged
Anirudh Mohta 2.80%unchanged
Utkarsh J Patel 0.19%newly disclosed
Jagdishkumar N Patel Huf 0.17%unchanged
Subhadra Ramanlal Patel 0.00%unchanged
Utkarsh J Patel Huf —off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹864, this stock must grow earnings at 10% every year for 7 years. Our analysis caps realistic growth at ~15%. At that growth it is worth ₹1122 — upside of 30%.

Growth the price implies
9.7% a year
for 7 years, fading to 4%
It has actually compounded at
14.5% a year
net profit, FY23–FY26 · EPS 14.6%
The gap
-0.0 pp
30% downside if it only repeats history
Price today ₹863.85 Value at the reference growth ₹1,121.51

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Jyoti Resins

Guides on how to read this kind of business and the numbers that matter.