Shareholders meeting

07th September, 2026 The Manager, The General Manager, Listing Department, Department of Corporate Services, National Stock Exchange of India Ltd, BSE Ltd., Exchange Plaza, 1st Floor, New Trading Ring, Plot No. – C – 1, G Block, Rotunda Building, Bandra – Kurla Complex, P.J. Towers, Bandra (East), Dalal Street, Fort, Mumbai – 400051 Mumbai – 400001 NSE Code – JGCHEM BSE Code – 544138 Dear Sir, Sub: Annual Report for the Financial Year 2025-26 including Notice for the 25th Annual General Meeting (AGM) Pursuant to Regulations 30 and 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we enclose herewith the Annual Report of the Company for the Financial Year ended 31st March, 2026, including the Notice convening the 25th Annual General Meeting of the Company on 30th September, 2026, which is being sent through electronic mode to those Members of the Company whose email addresses are registered with the Company/Company’s Registrar and Share Transfer Agent / Depository Participant(s). The Annual Report along with the Notice of the 25th AGM are also available on the website of the Company at www.jgchem.com. We request you to take the afore-mentioned information in record and oblige. Thanking you, Yours faithfully, For J.G. CHEMICALS LIMITED Swati Poddar Company Secretary and Compliance Officer Encl: As above J. G. Chemicals Limited (An ISO 9001, 14001, 45001 CERTIFIED COMPANY) Adventz Infinity@5, Unit No. 1511, Street No. 18, BN Block, Sector – V, Salt Lake City, Kolkata – 700 091, India, Phone: +91 33 4415 0100 Email: cs@jgchem.com | Web: www.jgchem.com Mfg. of : “LUXMI”(UR) BRAND ZINC OXIDE CIN: L24100WB2001PTC093380 From Mastery To Multiplication. J. G. Chemicals Limited ANNUAL REPORT 2025-26 J.G. Chemicals learned to turn the world’s most variable scrap into the world’s most precise zinc. That mastery made the Company India’s largest zinc oxide manufacturer and one of the top five worldwide. Mastery is the starting line. A platform this proven earns the right to multiply. And multiplication is now underway on four fronts at once. Capacity rises. Geography widens. Markets deepen. Margins climb. Each front runs on the same recycling craft, redirected. The chemistry that conquered scrap now travels west to Dahej. The grades, refined over decades, now offer open access to customers in the western region – tyres, ceramics, pharmaceuticals, speciality chemicals, agriculture and many others. The feedstock edge has already won and now lifts the margin ceiling. The base is set. What comes next is multiplication, on four fronts at once. TABLE OF CONTENTS CORPORATE OVERVIEW Statement from the Chairman 14 Statement from the Managing Director & CEO About the Company 18 Manufacturing Infrastructure 22 Geographic Presence 26 Customer Relationships 27 Key Financial Performance 28 Environment, Social & Governance 30 Corporate Information 41 Board of Directors 42 STATUTORY REPORTS Management Discussion & Analysis 44 Notice of the 25th AGM 62 Board's Report 79 Report on Corporate Governance 103 FINANCIAL REPORTS Standalone Financials 121 Consolidated Financials 172 J. G. Chemicals Limited Annual Report 2025-26 Corporate Overview FY26 Loaded The Platform Every headline number reached its highest point in the Company’s history. Revenue of ₹9,729 mn. EBITDA of ₹979 mn. Profit after tax of ₹686 mn. Volumes grew double digits across the year and mid-teens in the closing quarter. Records matter for one reason here. They prove the engine before it scales. The balance sheet carries the second half of the story. Net cash as of 31st March 2026 stands at H1,538.67 mn. Every rupee of the expansion ahead draws on the Company's own accruals. Growth on these terms stays fully owned. FY26 was the base. Multiplication is what follows. Corporate Overview Statutory Reports Financial Reports 05 2-43 44-118 119-221 MULTIPLICATION I: CAPACITY The Platform Expands Start with the capacity already in hand. The existing plants run at close to 80% of achievable capacity. Demand can rise by a quarter before the current network runs full. Running with headroom lets the Company respond to increasing demand. So this is expansion from strength, timed to lead demand rather than chase it. The Company is building on two fronts at once. At Dahej, Gujarat, a greenfield plant is rising on 11.43 acres within one of India's premier chemical zones. An investment of ₹1,000 mn, funded entirely from internal accruals. Phase 1 commissions in Q3 FY27, with civil work and equipment installation already well advanced. At full utilisation, the site has revenue potential of ₹9,000 mn, close to nine times the capital required to build it. In Naidupeta, Andhra Pradesh, brownfield debottlenecking unlocks additional output from existing assets. Modest capital. Quick payback. Higher throughput, drawn from the ground the Company already owns. Together, the two fronts expand the Company's installed capacity by more than half by 2029. Half as much again. Zero debt raised. One craft, carried forward. J. G. Chemicals Limited Annual Report 2025-26 Corporate Overview Corporate Overview Statutory Reports Financial Reports 07 2-43 44-118 119-221 MULTIPLICATION II: GEOGRAPHY West is Where the Demand Lives For decades, the map held one gap. India's fastest-growing industrial demand clusters in the west. Gujarat's ports. Its freight corridors. The ceramic hub, the largest of its kind in the country. Chemical parks, pharmaceutical belts and agrochemical demand, all scaling faster than any other region. The region is also home to a growing base of tyre manufacturers, adding to the pull of the west even within the Company's core business. J.G. Chemicals served these customers from the east and the south. The relationships were long and deep. Yet distance set a limit. To serve their factories in the West. Freight ate into returns, lead times stretched. The net result, JG Chemicals' supply to those western plants was negligible. Known buyers, closed off by a map. Dahej closes the gap. J. G. Chemicals Limited Annual Report 2025-26 Corporate Overview Set inside the Gujarat corridor, the new plant places production at the doorstep of the demand it serves. Freight compresses. Delivery quickens. The just-in-time reliability that western buyers prize becomes a promise the Company can keep. The prize is business it could never reach. Those zero-share plants convert into live accounts. Proximity opens doors that distance kept shut. Proximity compounds, too. Ports on the doorstep open export routes to the west. A local base earns local trust. Every account won near Dahej sits closer to the next one. The craft stays constant. Only the postcode changes. The same recycling chemistry is now being implemented where the country’s demand is growing fastest. Zero share, turned to an open field. Corporate Overview Statutory Reports Financial Reports 09 2-43 44-118 119-221 MULTIPLICATION III: MARKETS Beyond the Tyre Eighty-five out of every hundred rupees of approvals. The door to these sectors already revenue comes from one sector: rubber and stands open. tyres. Decades of trust built that base, and it Agriculture brings scale of another kind. Zinc holds strong. Yet a business that leans on one sulphate, drawn straight from the recycling industry moves with that industry. The next process, feeds the vast micronutrient demand chapter spreads the weight. This is not a step of Indian farms. back from tyre - the Company continues to Speciality chemicals, batteries and electronics grow that business with full focus. The shift in wait further out. Early positions, held until their mix simply reflects non-tyre industries growing demand matures. faster than tyre, alongside deliberate product diversification into new applications. There is room to grow inside the tyre relationship, too. A recycled-rubber stream, The target is set. Non-rubber revenue climbs now in trials, enables the Company to s [Showing first 8,000 characters — download PDF for full document]