India Glycols Limited · NSE:INDIAGLYCO
India Glycols — Q2 FY25 Earnings Presentation
41 slides from India Glycols's earnings presentation, Nov 8, 2024
Slide 1: Regulation 30 disclosure cover letter to exchanges
8th November, 2024 The Manager (Listing) The Manager (Listing) BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Ring, Exchange Plaza, C-1, Block G, Rotunda Building, P.J. Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai- 400 051 Scrip Code
Slide 2: Investor Presentation Q2 & H1 FY25
Investor Presentation Q2 & H1 FY25 November 2024
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation and the following discussion may contain “forward looking statements” by India Glycols Limited (“IGL” or the company) that are not historical in nature. These forward-looking statements, which may include statements relating to future results of operations, fi
Slide 4: Contents
Contents Financial Highlights Segmental Highlights Business Overview Annual Financial Highlights Annexures
Slide 5: Financial Highlights
Financial Highlights
Slide 6: Q2FY25 Performance Overview
Q2FY25 Performance Overview Figures in ₹ Cr. Gross Revenue Net Revenue EBITDA & EBITDA Margin PAT & PAT Margin +15% 13.5% 12.4% 4.8% 5.1% 2,144 250 +24% 200 +13% 961 775 150 120 +31% 106 1,870 100 50 38 50 - Q2FY24 Q2FY25 Q2FY24 Q2FY25 Q2FY24 Q2FY25 Q2FY24 Q2FY25 ⦁ Strong Revenue and absolute EBITDA
Slide 7: H1FY25 Performance Overview
H1FY25 Performance Overview Figures in ₹ Cr. Gross Revenue Net Revenue EBITDA & EBITDA Margin PAT & PAT Margin +18% +32% 14.3% 12.8% 6.0% 5.7% 4,426 500 450 1,930 400 350 +17% +24% 1,464 248 110 300 212 89 250 3,764 200 150 100 50 - H1FY24 H1FY25 H1FY24 H1FY25 H1FY24 H1FY25 H1FY24 H1FY25 ⦁ Remarkabl
Slide 8: Highlights – Q2FY25
Highlights – Q2FY25 Business Performance Figures in ₹ Cr. Q2FY25 over Q2FY24 Net Revenue surged by 24% in Q2FY25 – Bio-Fuel increased to ₹ 260 Cr from ₹ 105 Cr – PS up by 23% YoY to ₹ 271 Cr – EB grew by 32% YoY to ₹ 61 Cr – BSPC stood at ₹ 369 Cr EBITDA increased by 13% at ₹ 120 Cr, - EBITDA Ma
Slide 9: Highlights – H1FY25
Highlights – H1FY25 Business Performance Figures in ₹ Cr. H1FY25 over H1FY24 Net Revenue increased by 32% in H1FY25 to ₹ 1,930 Cr – Bio-Fuel increased to ₹ 499 Cr from ₹ 170 Cr – PS up by 21% YoY to ₹ 551 Cr from ₹ 456 Cr – EB up by 19% YoY to ₹ 118 Cr from ₹ 99 Cr – BSPC at ₹ 763 Cr up by 3.1% fr
Slide 10: Highlights – Q2 & H1FY25
Highlights – Q2 & H1FY25 Other Highlights Figures in ₹ Cr. Grain based capacity helped mitigate cost increases in PS as well as Chemicals- New biofuels portfolio helping build top line as well as bottom line. JV reported a strong quarter with best-ever performance; Sales up 24% and EBITDA up 139
Slide 11: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. Particulars Q2FY25 Q2FY24 Y-o-Y (%) H1FY25 H1FY24 Y-o-Y (%) Gross Revenue from Operations 2,144 1,870 14.6% 4,426 3,764 17.6% Revenue from Operations (Net of excise) 961 775 24.1% 1,930 1,464 31.9% Other Income 4 11 7 17 Total Income 966 785 22.9% 1,
Slide 12: Financial Summary - Standalone
Financial Summary - Standalone Figures in ₹ Cr. Particulars Q2FY25 Q2FY24 Y-o-Y (%) H1FY25 H1FY24 Y-o-Y (%) Gross Revenue from Operations 2,144 1,871 14.6% 4,426 3,763 17.6% Revenue from Operations (net of excise) 961 775 24.0% 1,930 1.463 31.9% Other Income 4 11 7 17 Total Income 965 786 22.8% 1,93
Slide 13: Segmental Highlights
Q2 & H1 FY25 Segmental Highlights
Slide 14: Segmental Highlights – Q2FY25
Segmental Highlights – Q2FY25 Net Revenue and EBIT Margin (%) Figures in ₹ Cr. Bio-Based Specialties and Potable Spirits (PS) Performance Chemicals (BSPC) 9.0% 8.1% 18.0% 20.5% 500 500 450 450 400 400 350 350 300 300 250 250 200 403 369 200 271 150 221 150 100 100 50 50 - - Q2FY24 Q2FY25 Q2FY24 Q2FY
Slide 15: Segmental Highlights – H1FY25
Segmental Highlights – H1FY25 Net Revenue and EBIT Margin (%) Figures in ₹ Cr. Bio-Based Specialties and Potable Spirits (PS) Performance Chemicals (BSPC) 10.1% 9.0% 18.2% 19.0% 1,000 800 900 700 800 600 700 500 600 400 500 739 763 551 400 300 300 200 200 456 100 100 - - H1FY24 H1FY25 H1FY24 H1FY25
Slide 16: Segmental Revenue and EBIT Mix – Q2FY25
Segmental Revenue and EBIT Mix – Consolidated – Q2FY25 Revenue Mix EBIT Mix 6% 5% 6% 29% 8% 28% 41% 38% 28% 52% 53% 45% 13% 14% 27% 6% Q2FY25 Q2FY24 Q2FY25 Q2FY24 BSPC Bio-Fuel PS EB 15 Consolidated Financials Note – The company has started reporting Bio-Fuel as a separate segment from Q1FY25, which
Slide 17: Segmental Revenue and EBIT Mix – H1FY25
Segmental Revenue and EBIT Mix – Consolidated – H1FY25 Revenue Mix EBIT Mix 7% 5% 6% 11% 32% 40% 29% 40% 31% 48% 51% 44% 12% 15% 26% 5% H1FY25 H1FY24 H1FY25 H1FY24 BSPC Bio-Fuel PS EB 16 Consolidated Financials Note – The company has started reporting Bio-Fuel as a separate segment from Q1FY25, whic
Slide 18: Segment Performance – BSPC
Segment Performance – BSPC Figures in ₹ Cr. Particulars Q2FY25 Q2FY24 % YoY H1FY25 H1FY24 % YoY Bio-based Specialities and Performance Chemicals (BSPC) Net Revenue 369 403 (8.3%) 763 739 3.1% EBIT 30 36 (17.9%) 69 75 (8.1%) % margin 8.1% 9.0% (94 bps) 9.0% 10.1 (110 bps) Q2FY25 Revenue at ₹ 369 Cr
Slide 19: Segment Performance – Bio-Fuel
Segment Performance – Bio-Fuel Figures in ₹ Cr. Particulars Q2FY25 Q2FY24 % YoY H1FY25 H1FY24 % YoY Bio-based Specialities and Performance Chemicals (BSPC) Net Revenue 260 105 147.9% 499 170 193.8% EBIT 13 5 151.6% 32 8 281.1% % margin 5.1% 5.0% 7 bps 6.4% 4.9% 147 bps Q2 Revenue at ₹ 260 Cr., up
Slide 20: Segment Performance - PS
Segment Performance - PS Figures in ₹ Cr. Particulars Q2FY25 Q2FY24 % YoY H1FY25 H1FY24 % YoY Portable Spirits (PS) Net Revenue 271 221 22.9% 551 456 20.9% EBIT 56 40 39.8% 105 83 26.5% % margin 20.5% 18.0% 249 bps 19.0% 18.2% 84 bps Q2FY25 Revenue at ₹ 271 Cr, up by 23%; EBIT at ₹ 56 Cr., up 40%,
Slide 21: Segment Performance - EB
Segment Performance - EB Figures in ₹ Cr. Particulars Q2FY25 Q2FY24 % YoY H1FY25 H1FY24 % YoY Ennature Biopharma (EB) Net Revenue 61 46 31.6% 118 99 19.1% EBIT 6 7 (20.3%) 12 20 (39.3%) % margin 9.0% 14.9% (587 bps) 10.1% 19.9% (976 bps) Q2FY25 Revenue at ₹ 61 Cr; up by 32% YoY; H1FY25 Revenue at
Slide 22: Company Overview
Company Overview
Slide 23: Company at a Glance
Company at a Glance Business Overview India Glycols Limited (IGL), founded in 1983, is one of the leading manufacturer of Bio-based Specialties & Performance ₹ 3,294 Cr ₹ 428 Cr Chemicals (BSPC), Bio-Fuel, Potable Spirits (PS) and Ennature Biopharma (EB). It is the first company in the world to prod
Slide 24: Key Strengths
Key Strengths 3+ decades of presence 3x3 strategy for Cost Effectiveness Diversified business R&D: Creating value with focus on Green model and applications Chemistry & Technical collaborations India’s leading Green Chemical Strong Management Team Company Integrated Mfg. facilities - 3 Financials pe
Slide 25: IGL Journey of more than 3 decades
IGL Journey of more than 3 decades 1983-1993 1994 - 2000 2001-2007 2008-2019 2020-2024 1983: Incorporation as 1994: Commissioning of EO 2001: Starting of glycol 2008: Expansion of MEG 2020: Commissioning of UP Glycols Ltd purification and first ether plant and gaur gum plant and commissioning saniti
Slide 26: Diversified business model and multi-functional application
Diversified business model and multi-functional application Business segments Bio-based Specialities and Potable Spirits (PS) Ennature Biopharma (EB) Performance Chemicals (BSPC) Bio Glycols: Bio Mono Ethylene Glycol, Bio Di Ethylene Glycol, License for operations and sale of Country Liquor in the N
Slide 27: India's leading Green Chemical Company
India’s leading Green Chemical Company Green is in IGL’s DNA and is the core of our business: Inspired by nature and Green chemistry, we create compounds based on decades of expertise, innovative engineering and sustainable technologies, while ensuring our environment remains untouched. Only manufac
Slide 28: Capabilities
Integrated Manufacturing facilities Kashipur Gorakhpur Dehradun 300-acre state 56-acre state of of art integrated art distillation & 1,60,000 sqft state manufacturing bottling complex of art facility complex Fermentation – Molasses and Grain Based Grain based Ethanol High Purity Extraction E
Slide 29: Leveraging synergies to create value–integrated manufacturing
Leveraging synergies to create value–integrated manufacturing for bio-based products Portable Spirits (PS) Products Potable Power Industrial ENA O2, N2, Ar Spirit Brands Alcohol Gas Division Ind Gr. CO2 Grain O2 ASU EO-CO2 mix Business transferred to JV with Clariant Bio-based Specialities Green Mol
Slide 30: 3 x 3 Strategy for Cost Effectiveness
3 x 3 Strategy for Cost Effectiveness Mitigating costs with 3 possible sources of 3 possible outputs raw material Imported Bio-based Ethanol Chemicals Domestically Bio-fuels bought Ethanol In-house Potable Ethanol Spirits • Grain-based ethanol plants with capacities of 400 KLPD and 110 KLPD at Kashi
Slide 31: R&D: Creating value through focus on Green Chemistry
R&D: Creating value through focus on Green Chemistry with Technical collaborations IGL pioneers’ sustainable trends with innovative, technology-driven solutions that reduce carbon footprints, leveraging digital technologies to reach net zero emissions and lead the way in green innovation. The state-
Slide 32: Growth Drivers
Growth Drivers High prospects of growth of Increasing consumer Companies taking steps to Growing demand for natural IGL is ideally placed to seize industry sectors being awareness and demand for significantly decrease carbon and safer products in the opportunity arising out serviced by IGL – Persona
Slide 33: Annual Financial Highlights
Annual Financial Highlights
Slide 34: 3-year Financial Trajectory - Consolidated
3-year Financial Trajectory - Consolidated Figures in ₹ Cr. Gross Revenue Net Revenue 7,922 3,294 2,868 6,601 6,642 2,651 FY22 FY23 FY24 FY22 FY23 FY24 EBITDA & EBITDA Margin (%) Adj. PAT* & Adj. PAT Margin (%) 9.6% 11.9% 12.9% 4.1% 4.2% 5.2% 428 319 277 173 119 113 FY22 FY23 FY24 FY22 FY23 FY24 * P
Slide 35: 3-year Key Ratios - Consolidated
3-year Key Ratios - Consolidated Return on Capital Employed (%) Debt-to-Equity Ratio (x) 10.5% 0.64 0.59 0.58 7.5% 7.7% FY22 FY23 FY24 FY22 FY23 FY24 Cash Conversion Cycle* (Days) Interest Coverage Ratio (x) 60 59 43 2.82 2.71 2.26 FY22 FY23 FY24 FY22 FY23 FY24 * Cash Conversion Cyle = Debtor Days +
Slide 36: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. Particulars (In ₹ Cr) FY22 FY23 FY24 FY22-24 CAGR Gross Revenue from operations 6,601 6,642 7,922 9.5% Revenue from operations (Net of excise) 2,868 2,651 3,294 7.2% Other Income 22 24 26 Total Income 2,890 2,675 3,320 7.2% EBITDA 277 319 428 24.4% E
Slide 37: Financial Summary - Balance Sheet and Cash Flow
Financial Summary - Consolidated Figures in ₹ Cr. Balance Sheet Cash Flow Statement Particulars (₹ Cr.) (as at end of) FY22 FY23 FY24 Particulars (₹ Mn) FY22 FY23 FY24 Fixed Assets 2,303 2,690 3,171 Cash and Cash Equivalents (Opening Balance) 3 7 2 CWIP 243 125 84 Investment 336 318 335 Cash Flow fr
Slide 38: Annexures
Annexures
Slide 39: Shareholder's Information
Shareholder’s Information Shareholding Pattern Public & Shareholder Information as on 30th September 2024 Others, 30.64% BSE Ticker 500201 NSE Symbol INDIAGLYCO Market Cap (in ₹ Cr.) 3,801.8 % Free- float 38.99% Bodies as on 30th Free Float Market Cap (in ₹ Cr.) 1,482.3 Corporates, September 2024 3.
Slide 40: Sustainability, ESG
Sustainability, ESG Social Environment Governance Adherence to high safety and operational standards for handling hazardous materials. Employee and worker training for skill development. Implementation of preventive measures to enhance cyber security. Stakeholder engagement approach implemen
Slide 41: India Glycols Limited contact details
India Glycols Limited Ernst & Young LLP CIN: L24111UR1983PLC009097 Rohit Anand Ankur Jain rohit.anand4@in.ey.com Company Secretary & Compliance Officer Riddhant Kapur Riddhant.kapur@in.ey.com Head office 2B, Sector-126, Noida Anubhav Khandelwal Gautam Budh Nagar Anubhav.khandelwal@in.ey.com Uttar Pr