Jyothy Labs Share Price Target 2026: Brokerage firm Elara Capital has maintained a ‘Buy’ rating on the homegrown FMCG firm Jyothy Labs stock, a day after the company said that it is expanding Exo into a broader dishwash franchise as German consumer goods major Henkel AG & Co. KGaA exited its licensing arrangement for Pril and Fa brands in India.
At 9:21 AM today, shares of Jyothy Labs were trading at Rs 205.90, up 1.70 per cent from the previous close on the BSE.
Jyothy Labs Share Price Target 2026
Elara has reduced the target price of Jyothy Labs to Rs 245 from Rs 335, but maintained Buy rating on the FMCG stock.
Key takeaways from the coverage
– Henkel to discontinue PRIL and Fa licensing agreements from June 2026
– PRIL and Fa account for 7-8% of consolidated revenue
– FY27 expected to be a transition year for dishwashing category
– PRIL exit removes Jyothy’s premium dishwashing liquid franchise
– Dishwashing segment margins already under pressure from competition
– Exo to become primary growth platform across dishwashing liquids and bars
– Management plans new product launches to support Exo scale-up
– Cut FY27 earnings by 6%; cut FY28 earnings by 12.9%; cut FY29 earnings by 11.7%
– Elara says key monitorable is Exo’s ability to replace PRIL’s premium positioning and profitability over the medium term.
Jyothy Labs Limited reported a 12.33 per cent year-on-year (YoY) decline in its net profit for the fourth quarter (Q4) of FY26.
The company, which owns brands such as Ujala, Pril, Margo and Exo, had posted a net profit of Rs 770 crore in the January-March quarter a year ago, according to a regulatory filing.
Jyothy Labs’ revenue from operations increased 7.72 per cent to Rs 717.41 crore in the March quarter of FY26, compared to Rs 666 crore in the year-ago period.
The revenue growth was driven by a “10.8 per cent volume growth year-on-year”, said Jyothy Labs in an earnings statement.
However, operating EBITDA margin stood at 13.5 per cent, due to lower sales realisation and inflation in input prices, the company informed the stock exchanges.
Total expenses of Jyothy Labs were at Rs 637.7 crore in the March quarter, up 11.8 per cent year-on-year.Its total revenue was up 7.6 per cent to Rs 733.20 crore in the March quarter.
In the entire FY26, Jyothy Labs reported a profit of Rs 333.19 crore, down 10.23 per cent. Total income rose 3.87 per cent to Rs 3,011.85 crore during the financial year ended March 2026.FY26 was marked by uneven demand and elevated input costs, particularly in the latter part of the year due to developments in West Asia, the company said.
“Despite these headwinds, the company delivered consistent volume growth across the year, supported by calibrated grammage actions and a gradual recovery in consumption, especially in the second half,” it added.
Additionally, GST rate reduction helped stimulate demand, particularly in the personal care segment from the third quarter onwards.
About the outlook, Chairperson and Managing Director M R Jyothy said the company remains ‘cautious’ as input costs rose sharply towards the end of the year, driven by crude-linked inflation and developments in West Asia.
Calibrated pricing actions have been taken, though the full impact is yet to flow through. As a result, margins may remain under pressure in the near term, she said.
“Demand is gradually stabilising, though its trajectory in the coming months remains contingent on broader macro environmental factors,” said Jyothy.
