Conference Call with Jubilant Ingrevia Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Specialty chemicals company Jubilant Ingrevia announced Q1FY24 results: Q1FY24 vs Q1FY23: Total revenue: Rs 1,075 crore vs Rs 1,166 crore, down 8% YoY Total EBITDA: Rs 125 crore vs Rs 151 crore, down 17% YoY EBITDA margin (%): 11.6% vs 12.9% Profit after tax: Rs 58 crore vs Rs 79 crore, down 27% YoY Profit after tax margin (%): 6.8% vs 5.4% Basic & diluted EPS: Rs 3.6 vs Rs 5, down 27% YoY Commenting on the Company’s performance, Shyam S Bhartia, Chairman and Hari S Bhartia, Co-Chairman, Jubilant Ingrevia, said: “We are pleased to announce stable performance in Q1FY24, given the backdrop of depressed market conditions specifically in Agrochemical end-use markets. In our specialty chemicals business, demand from our agrochemical customers globally continues to face headwinds due to exceptionally higher pipeline inventories. However, demand from our Pharmaceutical and other customers has improved leading to improved price realization and margins from these products including CDMO. In our Nutrition & Health Solution Business, Niacinamide sales volumes improved significantly, resulting into revenue growth. We continue to witness improved price realisation due to higher demand in the segment. Businesses continue to maintain the global leadership position in Niacinamide and focus on Niche segments like Food & Cosmetics. In our Chemical Intermediates Business, we continue to improve our market share of key product Acetic Anhydride, despite the challenges of lower demand from the agrochemical end-use segment. We also witnessed lower price realisation in the segment due to pricing pressure from the agro end-use of Acetic Anhydride and lower realisation of Ethyl Acetate in the export market. We are witnessing softening of coal prices and with that, our overall energy cost is expected to normalise. We remain committed towards our growth plans and are confident that our well-defined capex plan will deliver structured growth in the future as planned.” Result PDF
Conference Call with Jubilant Ingrevia Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Specialty Chemicals firm Jubilant Ingrevia announced Q4FY23 & FY23 results: Q4FY23: Total Revenue - 1,145 crore Total EBITDA - 111 crore EBITDA Margin (%) - 9.7% Profit After Tax - 52 crore Profit After Tax Margin (%) - 4.6% Basic and Diluted EPS (Rs.) - 3.3 crore FY23: Total Revenue - 4,773 crore Total EBITDA - 580 crore EBITDA Margin (%) - 12.2% Profit After Tax - 308 crore Profit After Tax Margin (%) - 6.4% Basic and Diluted EPS (Rs.) - 19.3 crore Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, CoChairman, Jubilant Ingrevia Limited said: “We are happy to announce that during the year FY23 our Specialty chemicals business grew 29%, Chemical Intermediate business placed highest ever volume of Acetic Anhydride and gained higher market share globally, however Nutrition business have faced headwinds for Niacinamide leading to lower volume as well as lower price realization. EBIDTA in FY’23 was lower mainly on account of higher energy prices and challenging market situation of Niacinamide business. During the quarter, though our Specialty Chemicals businessrecorded higher revenue and Chemical Intermediate business have placed higher volume of Acetic Anhydride YoY, however overall revenue was lower due to lower price of Acetic Acid leading to lower price of Acetic Anhydride and the headwinds we continue to face in Niacinamide business. Though EBIDTA during the quarter for Chemical Intermediate business improved YoY however overall EBIDTA performance impacted due to challenging market situation of Niacinamide and some of our Specialty products meant for Agrochemicals customers. We firmly believe that the challenges faced in Niacinamide business and in some of our products in Specialty Chemical meant for Agrochemical customers are of short-term nature, and business is confident to regain volumes, revenue and profitability as market situation improves. Our endeavors towards our growth plans remains undeterred, through our structured growth capex and we are confident about delivering robust growth in the future, this growth will be led primarily through our Specialty Chemicals & Nutrition Business segment. We are also glad to share that the Board has recommended a final dividend of 250% i.e. Rs 2.5 per equity share of face value of Re 1 each for the FY23. This shall result in cash outflow of Rs 39.8 Crore. During the year company has already declared an interim dividend of 250% i.e. Rs. 2.5 per equity share of Rs 1 each and the total dividend for FY23 works out to be 500% i.e. Rs 5.0 Per equity share of Rs 1 each amounting to Rs 79.6 Crore of Cash outflow.” Result PDF
Conference Call with Jubilant Ingrevia Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.