Zinc price volatility impacting working capital
Rising zinc prices may increase working capital requirements; management believes internal cash flows are sufficient but risk remains if prices spike sharply.
JGCHEMICALS / Q3-FY26 / risks
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JG Chemicals · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Slower ramp-up of new Gujarat plant
Commissioning in Q2 FY27 with full utilization expected in 2-2.5 years; any delays or slower customer uptake could impact revenue growth.
Duty removal on zinc dross not yet implemented
Budget removed import duty on zinc scrap but not on zinc dross, a key raw material; management is lobbying for correction, but uncertainty remains.
Zinc sulfate demand sensitivity to farmer pricing
High zinc and sulfuric acid prices are causing farmers to defer purchases, leading to slower offtake; recovery depends on price stabilization.