Jay Bee Laminations FY26 revenue rises 49% to ₹5,479.72 Mn
Jay Bee Laminations Limited reported a 49% increase in FY26 revenue to ₹5,479.72 Mn, driven by growth in CRGO, Transformer, and new EPC segments. However, PAT declined to ₹182.62 Mn from ₹253.86 Mn in FY25 due to raw material price volatility impacting CRGO margins. H2FY26 performance showed strong recovery with net sales rising 53.65% to ₹3,292.45 Mn and EBITDA improving to ₹238.73 Mn. The company improved its cash conversion cycle to under 70 days and generated positive operating cash flow. For FY27, management targets volume growth between 16,000 and 18,000 metric tonnes and transformer sales of ₹20 Cr to ₹30 Cr.
*this image is generated using AI for illustrative purposes only.
Jay Bee Laminations Limited has reported its audited financial results for the year ended March 31, 2026. The company achieved a total revenue of ₹5,479.72 Mn in FY26, an increase of 49% from ₹3,674.55 Mn in FY25. Profit After Tax (PAT) for the year stood at ₹182.62 Mn, compared to ₹253.86 Mn in the previous year. The decline in annual profits was attributed to volatility in the CRGO business, where raw material prices fell by 30% to 35% during the year, impacting gross margins. The Board of Directors approved the audited standalone financial statements at its meeting held on May 16, 2026.
H2FY26 Performance
For the second half of FY26, the company recorded net sales of ₹3,292.45 Mn, a rise of 53.65% compared to ₹2,142.82 Mn in H2FY25. Sequentially, revenue grew by 50.53% from H1FY26. EBITDA for H2FY26 improved to ₹238.73 Mn from ₹200.57 Mn in the corresponding period of the previous year. PAT for the half-year recovered to ₹145.77 Mn, up from ₹109.75 Mn in H2FY25. The company generated a cash flow from operations of ₹30.1 Cr in FY26 compared to a negative ₹33.87 Cr in the previous year.
Segment and Operational Highlights
The company's revenue stream diversified during the year with the inclusion of EPC Turnkey Projects. In H2FY26, the EPC segment contributed ₹1,414.63 Mn to the total revenue, while the manufacturing of CRGO products and transformers contributed ₹1,877.82 Mn. The total revenue mix for H2FY26 was 56% from the CRGO Division, 1% from the Transformer Division, and 43% from the EPC Division. Management stated that EBITDA margins within the EPC division hover around 12%, with expectations for future orders to be between 8% and 10%.
Financial Metrics
The following table summarizes the key financial metrics for FY26:
| Particulars (Rs. in Mn) | FY25 | FY26 |
|---|---|---|
| Net Sales | 3,674.55 | 5,479.72 |
| Total Expenditure | 3,244.63 | 5,139.10 |
| EBITDA | 429.92 | 340.63 |
| PAT | 253.86 | 182.62 |
| EPS | 12.31 | 8.09 |
The balance sheet remained robust with total assets increasing to ₹3,375.35 Mn as of March 31, 2026. The company's cash conversion cycle improved to less than 70 days in FY26 from 116 days in FY25. Looking ahead, the company aims for volume growth of 16,000 to 18,000 metric tonnes in FY27 and targets sales of ₹20 Cr to ₹30 Cr from the transformer division.
Historical Stock Returns for Jay Bee Laminations
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.06% | -0.44% | -6.29% | -30.61% | -58.27% | -68.79% |
How will the company manage the potential margin volatility in the CRGO segment if raw material prices remain unstable in FY27?
What is the expected revenue contribution from the EPC division in FY27, and will the company maintain the current 43% revenue mix?
Can the transformer division achieve the targeted ₹20 Cr to ₹30 Cr in sales, and what strategies are in place to drive this growth?
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