Conference Call with Jubilant Ingrevia Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals firm Jubilant Ingrevia declares Q4FY22 result: Revenue grew by 20% on YoY basis, driven by growth in Speciality Chemicals and Chemical intermediate product segments. Speciality Chemicals revenue grew by 35% YoY driven by volume growth across products Nutrition and Health Solutions business improved the prices in challenging market conditions during the quarter. Chemical Intermediates revenue grew by 18% YoY, driven by higher prices of products EBITDA at Rs 152 Crore is lower, mainly due to impact of Acetic acid prices on our inventory, while sharp increase in key input prices for Speciality Chemicals and Nutrition & Health Solutions segment were passed on partially till end of quarter. However overall impact of Acetic Acid price on profitability for full year FY’22 was not significant. PAT declined by 28% YoY driven by decline in EBITDA, as explained above. ROCE for FY22 improved to 27.8% as against 20.2% in FY21. ROE during FY22 stood at 21.9% as against 16.4% in FY21. Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, CoChairman, Jubilant Ingrevia Limited said: “We are pleased to announce that we delivered record financial performance during FY’2022 despite facing severe second wave of pandemic at beginning of the year and then headwinds and volatility in key input raw material and energy prices since last three quarters. We also maintained steady growth in Q4’FY22. In our Specialty Chemicals segment we delivered strong growth led by healthy demand across industry segment. We are also pleased to share that we successfully commissioned Phase-1 of Diketene and Derivatives manufacturing unit at our Gajraula facility. In Nutrition & Health Solution we improved our profitability due to higher price realization and improved volume in North America. In Chemical Intermediates Segment, we continued the higher sales with Pharmaceutical and Agrochemical customers and recorded healthy growth in the EU. Though profitability of the Acetyls business during Q4 was impacted due to sharp and consistent correction in Acetic Acid prices impacting our inventory, the overall impact of Acetic Acid price on profitability for full year FY’22 was not significant. Our business team continue to work closely with customers to ensure that the increase in input cost is passed on quickly and our supply chain team ensures the uninterrupted supplies and timely deliveries. Due to advancement in our new product pipelines & CDMO projects, we are pleased to revise our investment plan for growth projects to Rs. 2050 Crore, out of this we have already committed investment in projects worth Rs. 800 Crore till date and now we plan to invest about Rs. 1,250 Crore. to be committed between FY’23 & FY’24. These investments will be funded through internal accruals and all these new facilities should be ready for operations by FY’25 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 FY’22. 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 FY’22 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. We remain fully committed towards the growth aspirations envisioned for the company, and are excited to realise the emerging opportunities going forward in our business segments”. Result PDF
Conference Call with Jubilant Ingrevia Management and Analysts on Q3FY22 Performance and Outlook. Listen to the full earnings transcript.
Chemical and Petrochemicals company Jubilant Ingrevia announced Q3FY22 results: Q3FY22 (Consolidated): Revenue grew by 44% on YoY basis, driven by growth across product segments. Revenue from Pharma, Nutrition and Agro end use increased significantly. Speciality Chemicals revenue grew by 22% YoY driven by volume growth across products and passing-on of higher input costs. Nutrition and Health Solutions revenue grew by 37% YoY driven by higher volumes and improved price realisation. Life Sciences Chemical revenue grew by 60% YoY, driven by higher prices on account of favorable market conditions. EBITDA at Rs 222 Crore, grew by 42%, on account of strong performance of all three product segments. PAT grew by 42% YoY driven by growth in EBITDA, added by reduction in finance cost through reduction in Gross debt and optimization of Interest rates. Nine Months’FY22: Revenue grew by 51% on YoY basis, driven by growth across product segments. Speciality Chemicals revenue grew by 19% YoY driven by volume growth across product. Nutrition and Health Solutions revenue grew by 30% YoY driven by higher volumes and as well as higher prices. Life Sciences Chemical revenue grew by 80% YoY, driven by higher prices on account of improved price realization on account of favorable market conditions. EBITDA at Rs 712 Crore, grew by 68% on account of strong performance of all the three product segments and favorable market conditions in Life Sciences segment. PAT grew by 85% YoY driven by growth in EBITDA, aided by reduction in finance cost on account of reduction in Debt and optimization of Interest rates. ROCE in 9M’FY22 improved to 31.1% against 20.2% in FY21 ROE in 9M’FY22 stood at 25.2% as against 16.4% in FY21. Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman, Jubilant Ingrevia Limited said: “We are pleased to announce that in Q3’FY22 we continued to witness significant growth in our Revenue & EBITDA. We are also delighted to declared an interim dividend of Rs. 2.5 per equity share of Rs 1 each of the company amounting to Rs 39.8 Cr In our Specialty Chemicals segment we maintained strong growth across the products led by growing demand from Pharmaceutical, and Nutrition customers. In Nutrition & Health Solution the demand of Vitamin B3 improved and we placed higher volumes with improved realizations. In Life Science Chemical Segment, we continued the strong performance with healthy demand in domestic as well as in EU market. Our business team worked closely with customers and ensured that most of the increase in input cost is passed on and our supply chain team ensured the uninterrupted supplies and timely deliveries. We are pleased to inform, that in DJSI (Dow Jones Sustainability Index) Environmental Social & Governance (ESG) assessment, we scored 81 percentile in the global chemical industry and have been ranked among the top 20% chemical companies globally and amongst the Top 3 chemical companies in India. We remain excited with the growth opportunities in our businesses and are fully committed to realize them. Our strong new product pipeline developed by our in-house R&D;, our technical expertise into various chemistry platforms and long-standing relationship with global Pharmaceutical & Agrochemical customers is a strong enabler in our growth journey . With our growth capex plans shaping up we remain in course of doubling the revenue by FY’26 from the base of FY’21.” Result PDF
Conference Call with Jubilant Ingrevia Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.
Highlights: Revenue grew by 56% on YoY basis, driven by robust growth in volume and prices. Speciality Chemicals revenue grew by 17% YoY driven by volume growth across product segments. Nutrition and Health Solutions revenue grew by 43% YoY driven by higher volumes and growth in Niacinamide price. Life Sciences Chemical revenue grew by 84% YoY, driven by higher prices on account of favorable market conditions and passing-on of higher input cost of acetic acid. EBITDA at Rs 202 Crore, grew by 44%, on account of strong performance of Life Sciences chemical segment led by favorable market conditions and volume growth in Nutrition and Health Solution. PAT grew by 43% YoY driven by growth in EBITDA, added by reduction in finance cost through reduction in Gross debt and optimization of Interest rates. ROCE in H1’FY22 improved to 33.2% against 20.2% in FY21 ROE in H1’FY22 improved to 26.6% over 16.4% in FY21. Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, CoChairman, Jubilant Ingrevia Limited said: “With immense pleasure, I would like to announce that we have delivered yet another strong financial performance in Q2’FY22 and reported our highest ever revenue during the Quarter & Half Year ended 30th Sept’21. Supply disruptions from China is coming to our advantage, due to which we are witnessing strong demand in most of our products and that is giving us an opportunity to increase our share with the global customers, while on the sourcing side we are having negligible dependence on China. We are finding unprecedented increase in almost all the input raw materials, fuels like Coal & Gas & Logistic cost, however our business team is confident to pass on the incremental costs by working closely with customers. In our Specialty Chemicals segment we witnessed strong growth across the products led by growing demand from Pharmaceutical and Agrochemical customers. In Nutrition & Health Solution the demand of Vitamin B3 has been stable, and prices started to increase in Vitamin B3. We continue to work to improve our market share in niche segments like food and cosmetics. In Life Science Chemical Segment, we witnessed healthy demand from Pharmaceutical and Agrochemical customers resulting in volume growth in all the products. I am happy to announce that we reduced the net debt further by Rs 193 Crore during Q2’FY22. Looking Ahead we are excited with the growth opportunities in our businesses and we are fully committed to realize them. We have developed strong product pipeline using in-house R&D;, our technical expertise into various chemistry platforms and long-standing relationship with global Pharmaceutical & Agrochemical customers including Innovators. We are prioritizing and investing in several growth capex in next 2-3 years to launch these products to achieve our growth target of doubling the revenue by FY’26 from the base of FY’21.” Result PDF