Jyothy Labs Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Jyothy Labs Ltd filed with BSE on 07 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Jyothy Labs reported Q4 FY26 revenue of Rs 717 crore, up 7.7% year-on-year, with EBITDA margin at 13.5%, down about 330 basis points due to input cost inflation. For the full year, revenue grew 3.5% to Rs 2,944 crore with 6% volume growth, while Fabric Care grew 8% in value led by liquid detergents and Household Insecticides losses narrowed from Rs 25 crore to about Rs 5 crore. Management said crude-linked input costs rose sharply toward the end of the quarter and selective price increases of around 4% were taken in March, with the full impact expected in Q1 FY27.
Numbers mentioned
Revenue: INR717 crores (Q4 FY26)
p. 4
“For Q4, revenue stood at INR717 crores, up 7.7% year-on-year.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Gross margin: 45.2% (Q4 FY26)
p. 4
“Gross margin was at 45.2%, down about 400 basis points, driven by input cost inflation and lower realizations.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
EBITDA margin: 13.5% (Q4 FY26)
p. 4
“EBITDA margin stood at 13.5%, down by about 330 basis points year-on-year.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Revenue: INR2,944 crores (FY26)
p. 4
“For full year 2026, revenue stood at INR2,944 crores, up by 3.5%.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Gross margin: 47% (FY26)
p. 4
“Gross margin was 47%, down 320 basis points.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
EBITDA margin: 15.3% (FY26)
p. 4
“EBITDA margin was 15.3%, down by 230 basis points.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
PAT: INR333 crores (FY26)
p. 4
“PAT stood at INR333 crores.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Net working capital: 15 days (FY26)
p. 4
“Net working capital improved to 15 days, a reduction of 4 days.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Cash balance: INR1,000 crores (FY26)
p. 4
“We remain debt free with a”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Final dividend: INR3.5 per share (FY26)
p. 5
“The Board has recommended a final dividend of INR3.5”
M. R. Jyothy, page 5 of the filed PDF · View the filing
Fabric Care value growth: 14.4% (Q4 FY26)
p. 4
“Fabric Care delivered strong growth with 14.4% value growth and 17.8% volume growth, both main wash and post wash contributed.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Personal Care growth: 20% (Q4 FY26)
p. 4
“The segment grew by 20% in value and volume in Q4.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Household Insecticides growth: about 3% (Q4 FY26)
p. 4
“Household Insecticides grew by about 3% in value.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
HI losses: about INR5 crores (FY26)
p. 3
“HI sales declined by 1.3%, losses reduced significantly from INR25 crores last year to about INR5 crores this year.”
M. R. Jyothy, page 3 of the filed PDF · View the filing
LV share of HI portfolio: 55% (Q4 FY26)
p. 4
“The mix continues to improve with LV now about 55% of the portfolio compared to 50% last year.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Price increase: around 4% (March)
p. 12
“we have taken pricing action to the tune of around 4% in the month of March.”
Pawan Agarwal, page 12 of the filed PDF · View the filing
Tax rate: 25% to 26% (FY27)
p. 12
“It will be, we will be going for 115BAA. So, rate should be around 25% to 26%.”
Pawan Agarwal, page 12 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Margin outlook — Q1 FY27
stated firmly by Pawan Agarwal
p. 14
“So, quarter 1, definitely there is some pressure on margins.”
Pawan Agarwal, page 14 of the filed PDF · View the filing
HI category profitability — profitable · FY27
stated conditionally by Pawan Agarwal
p. 7
“And we had indicated that by the end of FY27, this category will be profitable, but it seems that if the last two quarters are anything to go by, I think we are on the right track and probably it can help us deliver the profitability target much earlier.”
Pawan Agarwal, page 7 of the filed PDF · View the filing
Capex — similar to previous year · FY27
stated firmly by Pawan Agarwal
p. 12
“Similar. It will be in similar range only. Yes.”
Pawan Agarwal, page 12 of the filed PDF · View the filing
Margin guidance for FY27 — FY27
stated conditionally by Pawan Agarwal
p. 7
“At this stage, we will be constrained to give any guidance on margin front. Maybe once the external environment settles down a little bit, hopefully, it should in a couple of quarters' time, then we'll be able to guide the street on our margin target for FY27.”
Pawan Agarwal, page 7 of the filed PDF · View the filing
Volume-value growth gap — narrower gap · near-term
stated conditionally by Pawan Agarwal
p. 10
“Going forward with the price increases that we are taking, I think the gap between volume and value growth would narrow down and slowly it will converge.”
Pawan Agarwal, page 10 of the filed PDF · View the filing
Retail outlet additions — 50,000 to 100,000 outlets · annual
stated firmly by M. R. Jyothy
p. 11
“So we've been adding almost 50,000 to 100,000 of retail outlets every year, and that is what will continue.”
M. R. Jyothy, page 11 of the filed PDF · View the filing
FY27 outlook — FY27
stated as an aspiration by M. R. Jyothy
p. 5
“We remain cautiously optimistic about FY27 while staying watchful of the external environment.”
M. R. Jyothy, page 5 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management declined to give specific margin guidance given input cost volatility.
Answered by Pawan Agarwal
Asked by Vishal Gutka: What is the margin band guidance for FY27, roughly 13.5-14%?
p. 7
“At this stage, we will be constrained to give any guidance on margin front.”
Pawan Agarwal, page 7 of the filed PDF · View the filing
Management said they are in active dialogues but will only acquire assets that add shareholder value.
Answered by Pawan Agarwal
Asked by Vishal Gutka: What is preventing the company from doing an M&A deal with its Rs 1,000 crore cash balance?
p. 7
“we are going to pick up the asset, which actually adds to the overall shareholders' value. And we are in active dialogues with a couple of them.”
Pawan Agarwal, page 7 of the filed PDF · View the filing
Management said there was no such benefit and raw material prices had been rising.
Answered by Pawan Agarwal
Asked by Navin: Did lower-priced inventory cushion the margin impact this quarter?
p. 9
“No, there is no such advantage of lower-priced inventory in this quarter.”
Pawan Agarwal, page 9 of the filed PDF · View the filing
Management said competitive intensity remains unchanged.
Answered by M. R. Jyothy
Asked by Sonal Minhas: Has competition in the Dishwash segment become less intense recently?
p. 10
“No, not right now. It's the same. It's continuing the same way.”
M. R. Jyothy, page 10 of the filed PDF · View the filing
Management confirmed a roughly 4% price increase and said further action would depend on inflation trends.
Answered by Pawan Agarwal
Asked by Akash Shah: How much price increase has been taken and how much is needed to offset raw material inflation?
p. 12
“we are monitoring the price increases on the raw material side on a continuous basis. And depending upon the market situation and also the volume growth or ambition, we have to keep all the factors in mind while taking any pricing decisions.”
Pawan Agarwal, page 12 of the filed PDF · View the filing
Management attributed it to input cost inflation, lower sales realization, grammage increases, and the lag between cost increases and pricing actions.
Answered by Pawan Agarwal
Asked by Percy: Why did gross margin fall 400 bps this quarter given the lag between crude prices and cost impact?
p. 15
“There are two reasons for this. One is, of course, some bit of inflation did hit us in quarter 4. But on the pricing side, lower overall lower sales realization has also impacted margin.”
Pawan Agarwal, page 15 of the filed PDF · View the filing
Management said the higher exposure is due to the home care-heavy portfolio and coil segment being margin dilutive.
Answered by M. R. Jyothy
Asked by Percy: Why does Jyothy Labs see a bigger margin hit from crude cycles compared to other FMCG companies?
p. 16
“almost 70% to 80% of our portfolio is into home care. And if you see, while the rest have the other segments also, so hence, you don't see as much.”
M. R. Jyothy, page 16 of the filed PDF · View the filing
Risks flagged
Sharp increase in crude prices affecting key inputs like LAB, PP and PE
p. 4
“Crude prices moved up sharply, and that has started reflecting in key inputs like LAB, PP and PE.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Weaker rupee adding pressure to cost structure
p. 4
“around 50% to 60% of our inputs are crude linked directly or indirectly, and therefore, a sharp increase in the crude prices, along with a weaker rupee has put pressure on the overall cost structure.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Elevated inflation could affect consumer spending and rural demand
p. 4
“Higher crude prices could keep inflation elevated and may affect consumer spending. This is also a risk to rural demand if farm income gets impacted in the coming quarters.”
M. R. Jyothy, page 4 of the filed PDF · View the filing
Intense competition in Dishwash with price cuts and higher grammage
p. 3
“Dishwash declined by 1.3% in value, despite 6% volume growth due to intense competition, price cuts and higher grammage across the market.”
M. R. Jyothy, page 3 of the filed PDF · View the filing
Difficulty passing on full cost increases immediately, especially in lower unit packs
p. 5
“it is difficult to pass on the full impact of cost increases immediately. This is especially true in lower unit packs where price points are fixed.”
M. R. Jyothy, page 5 of the filed PDF · View the filing
Lag between cost increases and pricing actions keeping margins under pressure
p. 5
“Also, there is typically a lag between cost increases and pricing actions.”
M. R. Jyothy, page 5 of the filed PDF · View the filing
LABSA raw material prices rising sharply
p. 16
“if we look at the key raw material, LABSA, the prices have gone through the roof in this quarter.”
Pawan Agarwal, page 16 of the filed PDF · View the filing
Packing material costs rising significantly
p. 16
“If you look at HDPE, PP, packing material item, which is roughly 15% to 20% of our purchases that has gone up by about 50%, 55%, and that has happened in March and April.”
Pawan Agarwal, page 16 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.