Jubilant Ingrevia Ltd. · NSE:JUBLINGREA
Jubilant Ingrevia — Q3 FY2023 Earnings Presentation
41 slides from Jubilant Ingrevia's earnings presentation, January 2023
Slide 1: Investor Presentation
Investor Presentation January 2023
Slide 2: 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 3: Company Overview
Company Overview
Slide 4: 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 5: Integrated Business Model
Integrated Business Model Jubilant Ingrevia Integrated Operations… 43% 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 6: 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 2022 2017: Certified for Responsible Care
Slide 7: Company Snapshot
Company Snapshot Leadership Revenue Segmentation: By Region (9M’FY23) Total 1500+ customers - Globally # 1 in 17 Pyridine Derivatives • Speciality Chemicals: 470 N.America 4% - Globally among Top 2 in (Pyridine + Beta) • Nutrition & Health Solutions: 460 RoW Domestic Sales • Chemical Intermediates:
Slide 8: 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 9: 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 10: 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 114 highly qualified scientists (21 PhDs) 35 Products in Pipeline for next 4 ye
Slide 11: 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 12: Financial Highlights: Q3 & 9M FY'23
Financial Highlights: Q3 & 9M FY’23
Slide 13: Chairmen's Message on Q3 & 9M'FY23 Financial Results
Chairmen’s Message on Q3 & 9M’FY23 Financial Results Mr. Shyam S Bhartia Mr. Hari S Bhartia Chairman Co-Chairman “We are pleased to announce stable performance during the quarter under review, amidst the continuing headwinds of higher energy costs and challenging global market situation. We are also
Slide 14: Financial Highlights: Key Financial Parameters
Financial Highlights1 : Key Financial Parameters Highlights ₹ 1,158 Cr. ₹ 158 Cr. 13.7% ₹ 92 Cr. 7.9% ₹ 5.8 Q3’FY23 Sales EBITDA EBITDA (%) PAT PAT (%) EPS 10% YoY (29)% YoY (359) bps (29)% YoY (213) bps (29)% YoY Highlights ₹ 1,286 Cr. ₹ 222 Cr. 17.3% ₹ 129 Cr. 10.0% ₹ 8.1 Q3’FY22 Sales EBITDA EBIT
Slide 15: Jubilant Ingrevia – Q3 FY'23 Financial Results Summary
Jubilant Ingrevia – Q3 FY’23 Financial Results Summary Particulars1 Q3'FY22 Q3'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue Speciality Chemicals 349 468 34% • Overall Revenue is 10% lower on YoY basis, mainly on account of Nutrition & Health Solutions 216 132 (39%) lower sales performance of Nutrition
Slide 16: Jubilant Ingrevia – 9M FY'23 Financial Results Summary
Jubilant Ingrevia – 9M FY’23 Financial Results Summary Particulars1 9M'FY22 9M'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue Speciality Chemicals 949 1,330 40% • Overall Revenue remained flat on YoY basis. Our Specialty Chemical Nutrition & Health Solutions 562 396 (30%) Business continue to deliver hig
Slide 17: Debt Profile – As on 31st December, 2022
Debt Profile – As on 31st December, 2022 Particulars1 31-Dec-21 31-Mar-22 31-Dec-22 Long Term Borrowings 100 100 - Short Term Borrowings 184 129 414 Total Gross Debt 284 229 414 Cash & Equivalent 54 49 63 Total Net Debt 230 181 351 YoY change -58% 52% Short Term borrowing increase was led by incre
Slide 18: 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% (%age) 16.3% 16.4% 12.7% FY'21 FY'22 9M'FY23 FY'21 FY22 9M'FY23 Asset / Turnover and Return On Asset (RoA) Net Working Capital 15.0% 16.2% 19.4% 55 Days 59 Days 71 days 2.0x
Slide 19: Business Segments Overview
BUSINESS SEGMENTS OVERVIEW
Slide 20: Speciality Chemicals – Segment Snapshot
Speciality Chemicals – Segment Snapshot Geographical Revenue Split (9M’FY23) 70+ Products (Pyridines & Picolines, Globally among Top 2 in Globally lowest cost Domestic Sales (Pyridine+Beta); for International Cyanopyridines, producer of Pyridine Consumption Piperidines, Globally #1 in 17 Pyridine of
Slide 21: Speciality Chemicals Segment Highlights – Q3 FY'23
Speciality Chemicals Segment Highlights – Q3 FY’23 Particulars1 Q3'FY22 Q3'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 349 468 34% Speciality Chemicals revenue grew by 34% YoY, driven by higher price Reported EBITDA 76 87 15% realization and volume growth across product segments. Reported EBITDA Mar
Slide 22: Speciality Chemicals Segment Highlights – 9 Months FY'23
Speciality Chemicals Segment Highlights – 9 Months FY’23 Particulars1 9M'FY22 9M'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 949 1,330 40% Reported EBITDA 231 229 (1%) Specialty Chemicals revenue grew by 40% on YoY, driven by higher Reported EBITDA Margin (%) 24.4% 17.2% price realization and volume
Slide 23: Nutrition & Health Solutions – Segment Snapshot
Nutrition & Health Solutions – Segment Snapshot Global top 2 in Vitamin B3 Revenue Segmentation (9M’FY23) 5 Nutrition Ingredients & Domestic leader in Vitamin 100% in-house sourcing Domestic Sales for By End use By Region Domestic Consumption Cosmetics & Others*, 13% B4 (Feed); Entered into of Beta
Slide 24: Nutrition & Health Solutions Segment Highlights – Q3 FY'23
Nutrition & Health Solutions Segment Highlights – Q3 FY’23 Particulars1 Q3'FY22 Q3'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 216 132 (39%) Reported EBITDA 53 9 (83%) Nutrition Business revenue de-grew YoY by 39% on account of Reported EBITDA Margin (%) 24.4% 6.6% lower demand, due to prolonged imp
Slide 25: Nutrition & Health Solutions Segment Highlights – 9M FY'23
Nutrition & Health Solutions Segment Highlights – 9M FY’23 Particulars1 9M'FY22 9M'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 562 396 (30%) Nutritional Business revenue de-grew by 30%, as the demand Reported EBITDA 114 41 (64%) was adversely impacted due to prolonged impact of Bird & Reported EBITD
Slide 26: 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 (9M’FY23) (Acetic Anhydride, Ethyl Domestic Sales for Merchant Mkt Anhydride to RoW 3% Acetate ,Propionic Anhydride, Internat
Slide 27: Chemical Intermediates Segment Highlights – Q3 FY'23
Chemical Intermediates Segment Highlights – Q3 FY’23 Particulars1 Q3'FY22 Q3'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 722 559 (23%) Reported EBITDA 100 71 (29%) Chemical Intermediates revenue de-grew by 23% on YoY basis, Reported EBITDA Margin (%) 13.9% 12.7% mainly driven by lower price of feed
Slide 28: Chemical Intermediates Segment Highlights – 9M FY'23
Chemical Intermediates Segment Highlights – 9M FY’23 Particulars1 9M'FY22 9M'FY23 YoY (%) FINANCIAL HIGHLIGHTS Revenue 2,143 1,901 (11%) Reported EBITDA 387 224 (42%) Chemical Intermediates revenue de-grew by 11% on YoY basis, Reported EBITDA Margin (%) 18.1% 11.8% mainly driven by lower price of
Slide 29: Outlook & Growth Plans
Outlook & Growth Plans
Slide 30: Outlook
Outlook Our Specialty Chemicals segment would continue to grow. Overall our FY’23, full year performance is expected to remain in line with our last three quarters. We are fully committed towards our growth aspirations and we are excited to realise the emerging opportunities through our ongoing
Slide 31: Growth Capex Investment Plan – Business Wise – Q3'FY23
Growth Capex Investment Plan – Business Wise – Q3’FY23 (Already Committed & to be Committed) Additional Capex to be Committed during FY’23 & FY’24~ Rs. 1,275 Crores Committed till date ~ Rs. 1,000 Crores Estimated Cash Outflow (From FY’22 to Q3’FY23, Total Cash Outflow ~ Rs. 560 Cr.) ~ (Rs. 215 Cr,
Slide 32: 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 44% in FY22 post commissioning of our announced growth capex plans Speciality, Nutrition & Others: 65% Acetyls: 35% Speciality, Nutrition & Others: 52% Acetyls: 48% Speciality, Nutrition
Slide 33: Quality, Business Excellence, Sustainability
BUSINESS QUALITY SUSTAINABILITY EXCELLENCE
Slide 34: 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 35: 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 36: 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 37: Sustainability Journey
Sustainability Journey 2001 2002 2003 2005 2008 2009 2010 2013 2015 2019 2021 SoFI Sustainability Became GRI Climate Change Became UNGC 1st EvoVadis Dow Jones Sustainability Jubilant Bhartia Sustainability Goals created ISO 14000 Sustainability Organization Mitigation and Signatory and Review Sustai
Slide 38: Our Vision, Values, Promise and Philosophy
Our Vision, Values, Promise and Philosophy OUR PHILOSOPHY Caring Sharing Growing
Slide 39: Appendix I: Income Statement – Q3 & 9M FY23
Appendix I: Income Statement – Q3 & 9M FY23 Particulars1 Q3'FY22 Q3'FY23 YoY (%) 9M'FY22 9M'FY23 YoY (%) Total Revenue from Operations 1,286 1,158 (10%) 3,654 3,628 (1%) Speciality Chemicals 349 468 34% 949 1,330 40% Nutrition & Health Solutions 216 132 (39%) 562 396 (30%) Chemical Intermediates 722
Slide 40: 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 41: Appendix III - Conference Call Details
Appendix III - Conference Call Details Date : January 31st, 2023 Time : 05:00 pm IST Diamond Pass Log-In To enable participants to connect to the conference call without having to wait for an operator, please register at the below mentioned link. Pre-registration: You will receive dial in numbers, p