JGCHEM Q2 FY27 Guidance vs Delivery (JGCHEM Management Mirror)

Dahej Phase 1 Commissioning Deferred to Q4 FY27 From H1 FY27 Guided in Mar'26 Qtr

In the Sep'26 Qtr concall, management updated that trial runs for Phase 1 of the Dahej greenfield project are scheduled for Dec'26, with commercial ramp-up deferred to Q4 FY27. Previously, in the Mar'26 Qtr concall, commissioning was initially guided for H1 FY27, which was later revised in the Jun'26 Qtr to Nov'26 (Q3 FY27); the current Sep'26 Qtr outcome represents a further deferral from those earlier targets. Looking ahead, management now guides capacity utilization at the Dahej facility to reach 60% to 70% in FY28, targeting a full revenue potential of over Rs 900 crore between FY29 and FY30, with Phase 2 construction slated to commence around mid-to-late calendar year 2028.