Jubilant Ingrevia Ltd. · NSE:JUBLINGREA
Jubilant Ingrevia — H1 FY2023 Earnings Presentation
43 slides from Jubilant Ingrevia's earnings presentation, Nov 7, 2022
Slide 1: Intimation of Investor/Analyst Meetings
November 07, 2022 BSE Limited National Stock Exchange of India Limited P. J. Towers Exchange Plaza Dalal Street, Bandra Kurla Complex Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 543271 Trading Symbol: JUBLINGREA Dear Sirs, Sub.: Intimation of Investor/ Analyst Meetings Pursuant to the
Slide 2: This is for your information and record. Thanking you, Yours faithfully,
This is for your information and record. Thanking you, Yours faithfully, For Jubilant Ingrevia Limited DEEPANJALI Digitally signed by DEEPANJALI GULATI GULATI Date: 2022.11.07 17:08:31 +05'30' Deepanjali Gulati Company Secretary
Slide 3: Investor Presentation November 2022
Investor Presentation November 2022
Slide 4: Disclaimer
Disclaimer Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates f
Slide 5: Company Overview
Company Overview
Slide 6: Jubilant Bhartia Group - Snapshot
Jubilant Bhartia Group - Snapshot Jubilant Bhartia Group founded by Shyam S Bhartia and Hari S Bhartia, leading industrialists from India Strong presence in diverse sectors like Pharmaceuticals, CDMO (Contract Research & Development Services) and Therapeutics, Specialty Chemicals, Nutraceutical Prod
Slide 7: Integrated Business Model
Integrated Business Model Jubilant Ingrevia Integrated Operations… 42% of our Pyridine & Picolines Speciality Nutrition & Health Chemical volume is used in-house for value- Chemicals Solutions Intermediates# added products in Speciality Nutrition & Pyridine & Chemicals & for Vitamin B3 Nutrition & H
Slide 8: Glorious Four Decades of Growth
Glorious Four Decades of Growth Commissioning of Our Journey 10+ years experience in 2019: Started new Acetic Anhydride plant, Bharuch SEZ, GJ (50 KTA) Phase1: Diketene 2018: Started Agro Intermediate plant (800 TPA), Bharuch SEZ Derivative Plant Vitamin B3 2017: Certified for Responsible Care (RC)
Slide 9: Company Snapshot
Company Snapshot Leadership Revenue Segmentation: By Region (H1’FY23) Total 1500+ customers - Globally # 1 in 17 Pyridine Derivatives • Speciality Chemicals: 470 - Globally among Top 2 in (Pyridine + Beta) • Nutrition & Health Solutions: 460 N.America RoW Domestic Sales 11% for International • Chemi
Slide 10: Executive Leadership Team
Executive Leadership Team Rajesh Srivastava Chief Executive Officer & Managing Director 35 years of industry experience Anil Khubchandani Chandan Singh Sumit Das Ashish Kumar Sinha Co-CEO & WTD Co-CEO SVP – Nutrition & VP – Animal & Human Speciality Chemicals Chemical Intermediates Health Ingredient
Slide 11: Multi Location Manufacturing & Operation Excellence
Multi Location Manufacturing & Operation Excellence Manufacturing Facilities 463 acres 310 acres 144 acres 109 acres 3.5 acres Gajraula, Uttar Pradesh, Bharuch, Gujarat, India Nira, Maharashtra, India Samlaya, Gujarat, India Ambernath, Maharashtra, India Speciality Chemicals, Chemical Intermediates
Slide 12: Research Development & Technology (RDT)
Research Development & Technology (RDT) 3 RDT centers in Noida, Gajraula and Bharuch 35 Key technology platforms developed & commercialized to global standards. Some are unique: Ammoxidation, Key Grignard etc. Highlights 92 highly qualified scientists (22 PhDs) 45 Products in Pipeline for next 4 yea
Slide 13: End Usage Applications for Pharma, Agrochemicals & Nutraceuticals
End Usage Applications for Pharma, Agrochemicals & Nutraceuticals Therapeutic Category Our Product Category (GMP & Non-GMP) (Used in ~ 53 APIs) Pyridine, Picolines Amino Methyl Chloro/ Bromo/ Pyridines Fluoro Pyridines Antipyretic Analgesic Antifibrosis Off- Patented Amino Pyridines Hydroxy Methyl P
Slide 14: Financial Highlights: Q2 & H1 FY'23
Financial Highlights: Q2 & H1 FY’23
Slide 15: Chairmen's Message on Q2 & H1 FY23 Financial Results
Chairmen’s Message on Q2 & H1’FY23 Financial Results Mr. Shyam S Bhartia Mr. Hari S Bhartia Chairman Co-Chairman “We are pleased to announce stable operational and financial performance during the quarter under review, despite continuing headwinds on account of higher energy costs during the current
Slide 16: Financial Highlights: Key Financial Parameters
Financial Highlights1 : Key Financial Parameters Highlights ₹ 1,304 Cr. ₹ 160 Cr. 12.3% ₹ 84 Cr. 6.5% ₹ 5.3 Q2’FY23 Sales EBITDA EBITDA (%) PAT PAT (%) EPS 7% YoY (21)% YoY (426) bps (24)% YoY (260) bps (24)% YoY Highlights ₹ 1,223 Cr. ₹ 202 Cr. 16.5% ₹ 111 Cr. 9.1% ₹ 7.0 Q2’FY22 Sales EBITDA EBITDA
Slide 17: Q2 FY'23 Financial Results Summary
Jubilant Ingrevia – Q2 FY’23 Financial Results Summary Particulars1 Q2'FY22 Q2'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue Speciality Chemicals 295 480 63% • Overall Revenue grew by 7% on YoY basis, led by higher sales Nutrition & Health Solutions 179 114 (36%) performance of Speciality Chemical Busin
Slide 18: H1 FY'23 Financial Results Summary
Jubilant Ingrevia – H1 FY’23 Financial Results Summary Particulars1 H1'FY22 H1'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue Speciality Chemicals 600 863 44% • Overall Revenue grew by 4% on YoY basis, mainly due to higher sales Nutrition & Health Solutions 346 264 (24%) performance by Speciality Chemica
Slide 19: Debt Profile – As on 30th September, 2022
Debt Profile – As on 30th September, 2022 Particulars1 30-Sep-21 31-Mar-22 30-Sep-22 Long Term Borrowings 218 100 - Short Term Borrowings 45 129 384 Total Gross Debt 263 229 384 Cash & Equivalent 70 49 102 Total Net Debt 193 181 282 We have completely paid off our high cost long term borrowing res
Slide 20: Balance Sheet – Key Parameters/Ratios (Pro-Forma)
Balance Sheet – Key Parameters/Ratios (Pro-Forma2) Return On Capital Employed (RoCE) Return on Equity 27.8% 21.9% (%age) 20.2% 18.9% (%age) 16.4% 14.5% FY'21 FY'22 H1'FY23 FY'21 FY22 H1'FY23 Asset / Turnover and Return On Asset (RoA) Net Working Capital 15.0% 16.2% 17.9% 55 Days 59 Day 65 2.0x 2.8x
Slide 21: Business Segments Overview
BUSINESS SEGMENTS OVERVIEW
Slide 22: Speciality Chemicals – Segment Snapshot
Speciality Chemicals – Segment Snapshot Geographical Revenue Split (H1’FY23) 70+ Products (Pyridines & Picolines, Globally among Top 2 in Globally lowest cost Domestic Sales for International Cyanopyridines, (Pyridine+Beta); producer of Pyridine Piperidines, Consumption Globally #1 in 17 Pyridine of
Slide 23: Speciality Chemicals Segment Highlights – Q2 FY'23
Speciality Chemicals Segment Highlights – Q2 FY’23 Particulars1 Q2'FY22 Q2'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 295 480 63% Specialty Chemicals revenue grew by 63% on YoY basis driven by higher Reported EBITDA 71 77 8% volume across product segments Reported EBITDA Margin (%) 24.1% 16.0% Sh
Slide 24: Speciality Chemicals Segment Highlights – H1 FY'23
Speciality Chemicals Segment Highlights – H1 FY’23 Particulars1 H1'FY22 H1'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 600 863 44% Reported EBITDA 155 141 (9%) Specialty Chemicals revenue grew by 44% on YoY basis driven by Reported EBITDA Margin (%) 25.9% 16.4% higher volume across product segments
Slide 25: Nutrition & Health Solutions – Segment Snapshot
Nutrition & Health Solutions – Segment Snapshot Global top 2 in Vitamin B3 Revenue Segmentation (H1’FY23) 5 Nutrition Ingredients & Domestic leader in Vitamin 100% in-house sourcing Domestic Sales for By End use B4 (Feed); Entered into of Beta Picoline (Key RM) for By Region Domestic Consumption Cos
Slide 26: Nutrition & Health Solutions Segment Highlights – Q2 FY'23
Nutrition & Health Solutions Segment Highlights – Q2 FY’23 FINANCIAL HIGHLIGHTS Particulars1 Q2'FY22 Q2'FY23 YoY (%) Revenue 179 114 (36%) Nutritional Business revenue de-grew by 36%, on account of Reported EBITDA 35 14 (61%) lower demand owing to post flu impact and excess inventory Reported EBIT
Slide 27: Nutrition & Health Solutions Segment Highlights – H1 FY'23
Nutrition & Health Solutions Segment Highlights – H1 FY’23 FINANCIAL HIGHLIGHTS Particulars1 H1'FY22 H1'FY23 YoY (%) Revenue 346 264 (24%) Nutritional Business revenue de-grew by 24%, as the demand Reported EBITDA 61 32 (47%) was adversely impacted mainly due to impact of Bird & Swine Reported EBI
Slide 28: Chemical Intermediates – Segment Snapshot
Chemical Intermediates – Segment Snapshot Entered Value added Region wise Revenue Segmentation Acetic Anhydride: 9 Products Globally No. 2 in derivative Propionic For Segment (H1’FY23) (Acetic Anhydride, Ethyl Domestic Sales for Merchant Mkt Anhydride to RoW 4% Acetate ,Propionic Anhydride, Internat
Slide 29: Chemical Intermediates Segment Highlights – Q2 FY'23
Chemical Intermediates Segment Highlights – Q2 FY’23 Particulars1 Q2'FY22 Q2'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 749 710 (5%) Reported EBITDA 103 76 (26%) Chemical Intermediates revenue de-grew by 5% on YoY basis Reported EBITDA Margin (%) 13.8% 10.8% mainly due to input price of Acetic Acid
Slide 30: Chemical Intermediates Segment Highlights – H1 FY'23
Chemical Intermediates Segment Highlights – H1 FY’23 Particulars1 H1'FY22 H1'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 1,422 1,343 (6%) Chemical Intermediates revenue de-grew by 6% on YoY basis Reported EBITDA 287 153 (47%) Reported EBITDA Margin (%) 20.2% 11.4% Acetic Anhydride volume growth by
Slide 31: Outlook & Growth Plans
Outlook & Growth Plans
Slide 32: Outlook
Outlook We expect our H2 performance to be better than H1, assuming no unexpected adverse situation. We expect overall healthy revenue growth during FY’23, led by volume growth in Specialty Chemicals & Chemical intermediate business segment. Commissioning of our new capex during H2 is likely to
Slide 33: Growth Capex Investment Plan – Business Wise
Growth Capex Investment Plan – Business Wise (Already Committed & to be Committed) Additional Capex to be Committed during FY’23 & FY’24~ Rs. 1150 Crores Committed till date ~ Rs. 900 Crores Estimated Cash Outflow (From FY’22 to Q2’FY23, Total Cash Outflow ~ Rs. 422 Cr.) ~ (Rs. 363 Cr, Rs.650 Cr. &
Slide 34: Capacity Build-Up Plan – FY'22 to FY'25
Capacity Build- Up Plan – FY’22 to FY’25 (over Base of FY’22) Overall Capacity Build-Up Speciality Chemicals Capacity Build-Up Capacity Expansion Plan Capacity Expansion Plan (Overall capacity increase : 40.5% & CAGR: 12.0%) (Overall capacity increase: 44.7% & CAGR: 13.1%) 30.0% 32.3% 15.6% 1.5% 7.9
Slide 35: Structural Shift towards Speciality via Growth Capex Plans
Structural Shift towards Speciality via Growth Capex Plans Speciality & Nutrition will be 65% of Revenue up from present 46% post commissioning of our announced growth capex plans Revenue in INR Crores at Base price of FY’21 Speciality, Nutrition & Others: 65% Acetyls: 35% Speciality, Nutrition & Ot
Slide 36: Quality, Business Excellence, Sustainability
BUSINESS QUALITY SUSTAINABILITY EXCELLENCE
Slide 37: Jubilant Ingrevia: Global Accreditation
Jubilant Ingrevia: Global Accreditation Select Certifications Gajraula Bharuch Nira Samlaya Ambernath Responsible Care RC 14001:2015 ISO 9001:2015 ISO 22000:2005 ISO 14001:2015 ISO 45001:2018 FSSAI FAMI-QS HALAL KOSHER GMP State State FDA G
Slide 38: Business Excellence and Digital Transformation
Business Excellence and Digital Transformation Belt Competencies (FY’22) Digital Transformation Black Belts: 07 Green Belts: 103 Yellow Belts: 95 Our journey started in 2018 with an objective to improve Business Excellence Operational efficiency Tools & Processes Business & Supply chain proces
Slide 39: Bring Progressive Social Change via Strategic Multi-Stakeholder Partnership
Bring Progressive Social Change via Strategic Multi-Stakeholder Partnership Mission: To develop multi-stakeholder sustainable Aspiring to touch Established models to bring about ‘social change’ involving 1 Million the Lives through in 2007 knowledge generation & sharing, experiential lives social in
Slide 40: Sustainability Journey
Sustainability Journey 2001 2002 2003 2005 2008 2009 2010 2013 2015 2019 2021 Climate Became GRI Change Became UNGC SoFI Sustainability Sustainability Sustainability Jubilant Bhartia 1st EvoVadis Dow Jones ISO ISO 14000 14000 Sustainability Organization Mitigation Signatory and Sustainability Goals
Slide 41: Our Vision, Values, Promise and Philosophy
Our Vision, Values, Promise and Philosophy OUR PHILOSOPHY Caring Sharing Growing
Slide 42: For More Information
For More Information For Investors: Siddharth Rangnekar CDR India Pavleen Taneja Ph: +91 22 6645 1209 Ph: +91 120 436 1000 E-mail: siddharth@cdr-india.com E-mail: pavleen.taneja@jubl.com For Media: Clayton Dsouza Sudhakar Safaya Madison Public Relations Ph: +91 120 436 1034 E-mail: clayton.dsouza@ma
Slide 43: Appendix I: Income Statement – Q2 & H1 FY23
Appendix I: Income Statement – Q2 & H1 FY23 Particulars1 Q2'FY22 Q2'FY23 YoY (%) H1'FY22 H1'FY23 YoY (%) Total Revenue from Operations 1,223 1,304 7% 2,367 2,469 4% Speciality Chemicals 295 480 63% 600 863 44% Nutrition & Health Solutions 179 114 (36%) 346 264 (24%) Chemical Intermediates 749 710 (5