J.G. Chemicals Limited has filed its quarterly monitoring agency report for Q3 FY26 with the National Stock Exchange and BSE Limited, fulfilling regulatory requirements under SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Monitoring Agency Report Overview

ICRA Limited, serving as the monitoring agency, prepared the report dated February 10, 2026, covering the quarter and nine months ended December 31, 2025. The report confirms that the utilization of IPO proceeds remains aligned with the objects outlined in the company's prospectus, with no material deviations observed.

IPO Proceeds Utilization Status

The specialty chemicals manufacturer's IPO, which opened on March 05, 2024, and closed on March 07, 2024, raised INR 165.000 crore through fresh issue of equity shares. As of December 31, 2025, the company has utilized INR 126.362 crore of the total proceeds, leaving INR 38.638 crore unutilized.

Fund Deployment and Management

The unutilized proceeds of INR 38.938 crore have been deployed in fixed deposits with HDFC Bank and Kotak Mahindra Bank, earning returns ranging from 4.25% to 7.10%. The total market value of these investments, including accrued interest, stands at INR 40.005 crore as of December 31, 2025.

The monitoring agency noted that while fund utilization remains compliant with prospectus objectives, actual spending for the R&D Centre setup does not correspond with originally proposed vendor specifications. However, ICRA acknowledged the company's flexibility to deploy equipment and machinery according to business requirements as stated in the offer document.

Regulatory Compliance and Timeline

All major objects remain on schedule according to the original timeline outlined in the prospectus. The debt repayment for material subsidiary BDJ Oxides Pvt. Ltd. has been completed, while other objects including working capital funding and R&D Centre establishment are progressing as planned through FY26-FY27.

The company utilized INR 23.266 crore for general corporate purposes, specifically for procurement of new land for a manufacturing unit during Q1 FY26. Issue-related expenses of INR 15.274 crore have been substantially completed, with only INR 0.402 crore remaining unutilized from the allocated INR 15.676 crore.

J.G. Chemicals Limited announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results at their meeting held on February 14, 2026, demonstrating strong operational performance with record quarterly revenue.

Financial Performance Overview

The company delivered robust growth in Q3FY26 with significant improvements across key revenue metrics, though margin pressures were evident due to operational factors.

Nine Months Performance

For the nine months ended December 31, 2025, the company maintained steady revenue growth while facing some profitability challenges.

Regulatory Compliance and Auditor Review

The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by statutory auditors S. Jaykishan, Chartered Accountants. The limited review report confirmed compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Information

The results will be published in newspapers as per Regulation 47 of SEBI LODR Regulations and made available on stock exchange websites and the company's official website at www.jgchem.com .

The company operates primarily in manufacturing and selling zinc-based products, with all activities revolving around this main business segment. The financial results reflect the company's continued focus on operational efficiency and market expansion in the zinc chemicals sector.