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Jubilant Ingrevia Limited Announces Q1 FY2025 Financial Results

Noida, July 16, 2024 – Jubilant Ingrevia Limited, a global integrated life science products and innovative solutions provider, has released its financial results for the first quarter ending June 30, 2024. The Board of Directors approved the results at their meeting held today from 12:15 p.m. to 2:55 p.m.

Key Financial Highlights:

Revenue and Profit:

• Total Revenue: ₹1,024 crores, a 5% decline year-over-year (YoY) and quarter-over-quarter (QoQ).
• EBITDA: ₹119 crores, representing a significant 18% QoQ increase.
• EBITDA Margin: Improved to 12% from 9% in the previous quarter.
• Profit After Tax: ₹49 crores, a notable 67% increase QoQ.

Earnings Per Share (EPS):

• Basic and Diluted EPS: ₹3.1, up from ₹1.8 in the previous quarter.

Segment Performance:

Speciality Chemicals:

• Revenue: ₹431 crores, up 18% YoY.
• EBITDA: ₹86 crores, a 50% increase YoY, with margins improving to 20%.
• Key Highlights: Significant volume growth in fine chemicals and Pyridine products, strong performance in the CDMO business, and high utilization of the Di-ketene plant.

Nutrition & Health Solutions:

• Revenue: ₹186 crores, a 13% increase QoQ.
• EBITDA: ₹23 crores, a 165% increase QoQ, driven by higher volumes from human end-use and cosmetic-grade products.
• Key Highlights: Steady demand for Niacinamide, strong acceptance of newly launched food-grade Choline Chloride and Choline Bitartrate.

Chemical Intermediates:

• Revenue: ₹408 crores, down 20% YoY.
• EBITDA: ₹36 crores, a 41% decrease YoY, affected by higher ocean freight costs and subdued realizations.
• Key Highlights: Stable Acetic Anhydride volumes, improved Ethyl Acetate volumes, and firm market share in Europe and domestic markets.

Chairman's Message:

Mr. Shyam S. Bhartia, Chairman, and Mr. Hari S. Bhartia, Co-Chairman, expressed satisfaction with the company's performance, highlighting the following:

• Pharmaceutical Market: Rising demand trends and significant traction in North America, Europe, and Japan.
• Agrochemical Sector: Gradual improvement with easing inventory situations, though prices remain under pressure.
• Nutrition Segment: Stable demand with marginal price improvements.
• Business Performance: Strong volumes in Pyridine and Diketene derivatives, steady demand for Niacinamide and Pyrithiones, and focused efforts on maintaining market share in Acetyls.

Future Outlook:

The company reaffirms its expectation of improvements across all business segments in FY25. Key focus areas include customer-centricity, ramping up newly commissioned plants, cost control through Project Lean, and sourcing renewable energy for long-term sustainability. The vision of Pinnacle 345 aims for three times revenue and four times EBITDA in five years.

USFDA Update:

The Bharuch manufacturing facility successfully completed its USFDA inspection with zero observations, reinforcing the company's compliance with GMP standards for manufacturing nutraceuticals and dietary-active ingredients.

Conference Call Details:

The company will host an earnings call on July 16, 2024, at 5:00 p.m. IST. Pre-registration and dial-in details are available on the company’s website.

Contact Information:

For Investors:

• Pavleen Taneja, Jubilant Ingrevia Limited, Ph: +91-120 436 1000, E-mail: pavleen.taneja@jubl.com
• Siddharth Rangnekar, CDR India, Ph: +91 22 6645 1209, E-mail: siddharth@cdr-india.com

For Media: