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Jubilant Ingrevia Limited (JUBLINGREA) Fair Value & Analysis

Basic Materials · IN · Market cap ₹114B (≈ $1.2B) · ISIN INE0BY001018

What is Jubilant Ingrevia Limited really worth?

JI Jubilant Ingrevia Limited JUBLINGREA · BSE
Price₹681.15
Fair Value₹387.64
Upside−43.1%
Quality56/100

A solid business, but trading 76% above our fair value of ₹387.64.

As of Aug 21, 2026, the fair value of Jubilant Ingrevia Limited is ₹387.64 per share against a price of ₹681.15, so the fair value sits 43% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +45.0 %/yr)
!Thin margins · 6.6% net margin
!Narrow moat 40/100
Evidence: High Range ₹215.10 – ₹484.55

Fair value as of: Aug 21, 2026

From 24 valuation models · updated 16 days ago

Share price −8.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹484.55). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹215.10 to ₹484.55) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

₹847.14 ₹348.01 Fair Value ₹387.64 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ₹348.01 – ₹847.14 · fair‑value band ₹215.10 – ₹484.55 · the ₹681.15 price screens above the ₹387.64 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Jubilant Ingrevia Limited (JUBLINGREA) currently trades at ₹681.15, while our model-based Fair Value estimate is ₹387.64, implying the stock looks roughly 75.7% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of ₹459.01 per share, and 1 of the 24 models we run sit above the ₹681.15 price. Bear case: the Asset-Based group reads lowest at ₹132.81, and 23 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Jubilant Ingrevia Limited generated revenue of ₹46.5B at a net margin of 6.6%. Revenue grew 25.3% year over year. It earns a return on equity of 9.2%. Net debt stands at ₹5.9B. Fundamentals as of Aug 21, 2026

Our scenario range runs from ₹215.10 (bear case) to ₹484.55 (bull case); at ₹681.15, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 28% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −58% fair-value upside, at −43%, JUBLINGREA screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹8.27 per share, which is 2.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
EPV ₹162.99 ₹191.57 ₹216.58 74
Residual Income ₹169.14 ₹184.41 ₹249.63 74
FCF DCF ₹203.62 ₹369.20 ₹807.54 72
All 24 models by family
DCF Models
FCF DCF ₹203.62 ₹369.20 ₹807.54 72
Owner Earnings ₹136.77 ₹302.15 ₹632.47 68
5Y Revenue Exit ₹227.67 ₹459.01 ₹820.17 67
5Y EBITDA Exit ₹320.77 ₹667.44 ₹1,173 69
5Y P/E Exit ₹251.76 ₹522.80 ₹862.05 66
10Y Revenue Exit ₹210.05 ₹445.33 ₹811.91 61
10Y EBITDA Exit ₹283.79 ₹610.79 ₹1,191 62
10Y P/E Exit ₹236.00 ₹488.15 ₹902.72 58
Earnings-Based
Graham-Dodd ₹119.82 ₹759.09 ₹1,061 61
Lynch FV ₹219.30 ₹313.29 ₹407.27 59
PEG = 1.0 ₹219.30 ₹313.29 ₹407.27 55
EPV ₹162.99 ₹191.57 ₹216.58 74
Multiples
P/E Multiple ₹290.73 ₹387.64 ₹484.55 63
P/S Multiple ₹224.66 ₹299.54 ₹374.43 58
P/B Multiple ₹224.66 ₹299.54 ₹374.43 55
EV/EBIT ₹325.54 ₹436.87 ₹548.21 66
EV/EBITDA ₹383.42 ₹514.06 ₹644.69 67
EV/Revenue ₹229.92 ₹332.09 ₹434.25 53
Asset-Based
NCAV (Graham) ₹99.11 ₹132.81 ₹198.22 54
Growth DCF
Growth DCF ₹196.16 ₹411.45 ₹793.34 71
Rev-Margin DCF ₹227.67 ₹455.09 ₹782.41 67
Economic Profit
Residual Income ₹169.14 ₹184.41 ₹249.63 74
ROIC Compounder ₹162.99 ₹191.57 ₹245.95 70
Growth Earnings
Growth-Adj P/E ₹318.19 ₹454.56 ₹590.93 65

Widest divergence: DCF Models (₹459.01) versus Asset-Based (₹132.81). Highest evidence: EPV (74).

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Key figures & financial health

P/E ratio 35.9
P/S ratio 2.29 P/E × margin
EPS (TTM) ₹18.99 price ÷ EPS = P/E 35.9
Dividend yield 0.7% payout 25.0%
Net margin 6.4% FY2026
Return on equity 9.2% TTM
More key figures
Profitability
Return on assets (EBIT) 10.1% avg 5y
Operating margin 11.4% TTM
Growth
Revenue (TTM) ₹46.5B TTM
Revenue growth (YoY) +25.3% 3y avg −2.9%
EPS growth (YoY) +40.6%
Balance sheet & cash flow
Free cash flow ₹2.2B FY2026
Net debt ₹5.9B FY2026 · ≈ 2.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 57 · Market factors (momentum, volatility) 58

Profitability 47
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 85
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Jubilant Ingrevia Limited engages in the life science products and solutions in India, the United States, Europe, China and internationally. It operates in three segments: Specialty Chemicals, Nutrition & Health Solutions, and Chemical Intermediates.

Full company description

Jubilant Ingrevia Limited engages in the life science products and solutions in India, the United States, Europe, China and internationally. It operates in three segments: Specialty Chemicals, Nutrition & Health Solutions, and Chemical Intermediates. The Specialty Chemicals segment offers bio-pyridine and -picolines, fine chemicals, agro chemicals, custom development and manufacturing services, and microbial control solutions. The Nutrition & Health Solutions segment provides nutrition and health ingredients; and animal and human nutrition health solutions. The Chemical intermediates segment offers acetyls and specialty ethanol. The company provides piperidines, metal complexes, choline salts, vitamin B3, Vitamin B4, picolinates, riboflavin phosphate sodium, nutritional premixes, antioxidants, straight ingredients, acetic anhydride, acetic acid, ethyl acetate, propionic anhydride, formaldehyde, bio acetic acid-food grade, acetaldehyde, and ethanol, as well as cyano, acetyl, amino, halo, alkyl, and aldehyde pyridines. In addition, it offers route design, process development, process optimization, and scale-up and commercial manufacturing of intermediates. Further, the company provides vitamins, mineral premixes, stress regulator, amino acid, herbal choline, herbal non-antibiotic growth promoter and egg quality enhancer, toxin binder, acidifiers, and enzymes and emulsifiers. It serves pharmaceutical, animal and human nutrition, agrochemical, personal and consumer care, and industrial customers. The company was formerly known as Jubilant LSI Limited and changed its name to Jubilant Ingrevia Limited in October 2020. Jubilant Ingrevia Limited was incorporated in 2019 and is headquartered in Noida, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Jubilant Ingrevia Limited reported revenue of ₹43.4B in FY2026 versus ₹49.1B in FY2022, a compound −3.0%/yr. Reported net income was ₹2.8B in FY2026, compounding −12.6%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
₹43.4B
Latest YoY
+5.4%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−2.9%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+45.0%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+1.8% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+1.1%
Dividend yield0.7%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14.5% (2021) → 9.5% (2026) · falling
Worst earnings drop61% (2024) · in INR
Revenue −3.0%/yr
FY22 ₹49.1B
FY23 ₹47.4B
FY24 ₹41.0B
FY25 ₹41.2B
FY26 ₹43.4B
Net income −12.6%/yr
FY22 ₹4.8B
FY23 ₹3.1B
FY24 ₹1.8B
FY25 ₹2.5B
FY26 ₹2.8B

JUBLINGREA screens 76% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Jubilant Ingrevia Limited Fair Value". https://www.fairvalue-calculator.com/stock/JUBLINGREA.BSE

Peer Group

Specialty Chemicals · 695 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 56 · Above median
Fair Value upside −43% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 5% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 25% · Top 25%
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.10× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 35.9× · Pricier than median
P/B 3.64× · Pricier than 75% of peers
P/S (TTM) 2.44× · Pricier than median
P/FCF 0.5× · Cheaper than median
EV/EBITDA 18.5× · Pricier than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

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Frequently asked questions

Is Jubilant Ingrevia Limited (JUBLINGREA) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹387.64 versus a price of ₹681.15, about −43% upside (overvalued).
What is the fair value of JUBLINGREA?
Our model-based fair value for Jubilant Ingrevia Limited is ₹387.64 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹681.15.
What is the quality score of JUBLINGREA?
Jubilant Ingrevia Limited has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Jubilant Ingrevia Limited (JUBLINGREA)?
Our model-based price target is the fair value of ₹387.64 (as of Aug 21, 2026) from 24 valuation models. Cautious scenario ₹215.10, optimistic scenario ₹484.55. It is a calculation from audited fundamentals, not an analyst target.
What is the Jubilant Ingrevia Limited stock forecast for 2026?
Our models put fair value at ₹387.64, about −43% upside versus a price of ₹681.15 (overvalued). Cautious scenario ₹215.10, optimistic scenario ₹484.55. The calculation is refreshed regularly with new filings.
What is the revenue of Jubilant Ingrevia Limited (JUBLINGREA)?
Jubilant Ingrevia Limited reported trailing-twelve-month revenue of about ₹46.5B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of JUBLINGREA?
The net profit margin of Jubilant Ingrevia Limited is about 6.6%, meaning it keeps roughly 6.6% of revenue as net income. Based on the latest reported figures.
Does Jubilant Ingrevia Limited pay a dividend?
Jubilant Ingrevia Limited currently shows a dividend yield of about 0.70% relative to its recent price (as of Aug 21, 2026).
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