Jubilant Ingrevia Ltd. · NSE:JUBLINGREA
Jubilant Ingrevia — Q4 FY24 Earnings Presentation
36 slides from Jubilant Ingrevia's earnings presentation, May 2024
Slide 1: Investor Presentation May 2024
Jubilant Ingrevia Limited Investor Presentation M AY 2 02 4
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: Chairmen's Message on Q4'FY24 Financial Results (1/2)
Chairmen’s Message on Q4’FY24 Financial Results (1/2) “We are pleased to announce stable business performance for Q4 amidst the continued challenging market conditions. Dividend declaration: We are glad to share that the Board has recommended a final dividend of 250% i.e. Rs 2.50 per equity share of
Slide 4: Chairmen's Message on Q4'FY24 Financial Results (2/2)
Chairmen’s Message on Q4’FY24 Financial Results (2/2) Market in FY24 The Agrochemicals sector, which faced dual challenges of overstocking of inventories and oversupply from China during the year, is yet to bounce back to normalcy. While, the excess inventory situation is expected to ease out and vo
Slide 5: Table of Contents
Table of Contents Company Growth Q4FY24 and FY24 Business Segments Overview Roadmap Highlights and Enablers Update PA G E - 0 6 PA G E - 10 PA G E - 16 PA G E - 22 5
Slide 6: Company Overview
Company Overview Gajraula facility which houses the new Diketene Derivative plant, Gajraula, Uttar Pradesh, India 66
Slide 7: Jubilant Ingrevia is the oldest and third largest company in Jubilant Bhartia Group
Jubilant Ingrevia is the oldest and third largest company in Jubilant Bhartia Group 45+ years 2300+ people 3rd largest of legacy in Chemicals space, started with strong leadership team with Company in the Jubilant Group average 25+ years of experience in in 1978 as VAM Organic Chemicals Chemicals sp
Slide 8: Our business is split across 3 business verticals
Our business is split across 3 business verticals, with global leadership across our key product lines ~38% ~16% ~45% Specialty Chemicals Nutrition & Health Solutions Chemical Intermediates CDMO Nutrition & Health Ingredients Acetyls Fine Chemicals Animal & Human Nutrition Health Microbi
Slide 9: We serve customers across geographies and sectors
We serve customers across geographies and sectors; increased growth from exports and pharma/cosmetic/nutrition sectors in recent years Our Product Platforms Enable us to serve diverse customer segments and market needs 1• Pyridine Geographical Revenue Split (FY24) End-use Industry Revenue Split (FY2
Slide 10: Growth Roadmap
Ww JUBILANT INGREVIA ’ Growth Roadmap 10
Slide 11: Our new 'Compass' forms the bedrock of our future growth roadmap
Our new ‘Compass’ forms the bedrock of our future growth roadmap PURPOSE VISION Enable a Sustainable World through Leading provider of innovative solutions Chemistry in our core chemistries globally Customer Centricity World-class, Safe Innovation & ESG Leader People Focused Operations Technology Cu
Slide 12: There are five major long-term trends underway in the market
There are five major long-term trends underway in the market… Supply Chain Domestic demand Move to value-add Digitization ESG focus Diversification products 1 2 3 4 5 – MNC customers looking to – High volatility from end- – Increasing portfolio – Industry transformation – Shareholder activism divers
Slide 13: Future Growth Aspirations: Pinnacle 3.4.5
Future Growth Aspirations: We have recently refreshed our strategy; Aspiration to grow 3x in next 5 years PINNACLE 3.4.5 13
Slide 14: Pinnacle 345: Key Growth Priorities
Pinnacle 345: Key Growth Priorities Future Priorities Portfolio Higher focus on specialty products (downstream value-added products (n-1, n-2), CDMO, nutrition) Higher focus on US/Japan markets and Pharma/Cosmetics/Nutrition sectors Approach/ “Customer-centric” approach Mindset (everything starts fr
Slide 15: Ingrevia Full Potential Roadmap: Building blocks of Pinnacle 345
Ingrevia Full Potential Roadmap: Building blocks of Pinnacle 345 JUBILANT INGREVIA FULL POTENTIAL 3X revenue, 4X EBITDA, 5 years GROWTH PILLARS A Specialty Chemicals Pyridine & Picoline B Nutrition & Health solutions C Chemical Intermediates Retain Global leadership (#1 position, cost leadership) in
Slide 16: Q4FY24 and FY24 Highlights
Q4FY24 and FY24 Highlights 16 16
Slide 17: Market Overview: Markets continued to remain tough in FY24
Market Overview: Markets continued to remain tough in FY24; especially in agrochemicals, but pricing pressure in other segments too Agro Chemical: • Some stability in volumes and price experienced in Q4 though expect markets to improve in Q3/Q4 FY25 • We believe that destocking is in its final phase
Slide 18: Key business highlights FY24
Key business highlights FY24: Continuing progress in line with our long-term strategy • Pyridine & Picoline: Enhanced Market Share in Pyridine and its derivatives; world’s largest and only non-Chinese scaled player in Pyridine Maintained Leadership in Core Markets • Acetic Anhydride: Gained share in
Slide 19: We continued to invest in our core capabilities to ensure future growth
Despite challenging markets, we continued to invest in our core capabilities to ensure future growth delivery Key capabilities Customer World class safe Innovation & centricity ESG Leader operations Technology People focused • 120+ new customers • Re-affirmed EcoVadis • Commissioned 2 new • Efficien
Slide 20: Financial Results Overview | Consolidated
Financial Results Overview | Consolidated Particulars1 Q4'FY23 Q3'FY24 Q4'FY24 Q-o-Q Y-o-Y FY23 FY24 Y-o-Y Total Revenue 1,145 966 1,074 11% -6% 4,773 4,136 -13% Total EBITDA 111 104 101 -4% -9% 580 456 -21% EBITDA Margin (%) 10% 11% 9% 12% 11% Profit After Tax (Before One Time Transition 52 39 42 8
Slide 21: Early outlook for FY25
Early outlook for FY25 Agro Chemical: • Cautious optimism for FY25: Despite expectations of market improving starting H2FY25, we remain cautious due to our understanding that China has added capacity in agrochemicals leading to continuous pressure on pricing • Customers deferring purchase as destock
Slide 22: Business Segments Overview
Business Segments Overview Newly commissioned Agro Actives & Intermediates plant Bharuch facility, Gujarat, India22 22
Slide 23: Specialty Chemicals | Market, Business & Financial Highlights
1 Specialty Chemicals | Market, Business & Financial Highlights MARKET HIGHLIGHTS FINA NCIAL HIGHLIGHTS Continued improvement in demand from Particulars1 Q4'FY23 Q3'FY24 Q4'FY24 Q-o-Q Y-o-Y FY23 FY24 Y-o-Y end-use segment, volumes remained strong Segment Revenue 468 365 475 30% 2% 1,798 1,586 -12% a
Slide 24: Nutrition & Health Solutions | Market, Business & Financial Highlights
2 Nutrition & Health Solutions | Market, Business & Financial Highlights MARKET HIGHLIGHTS FINANCIAL HIGHLIGHTS Vitamin demand remained stable during the Q4'FY23 Q3'FY24 Q4'FY24 Q-o-Q Y-o-Y FY23 FY24 Y-o-Y Particulars1 quarter, though competitive forces led to Segment Revenue 155 151 165 9% 6% 551 6
Slide 25: Chemical Intermediates | Market, Business & Financial Highlights
3 Chemical Intermediates | Market, Business & Financial Highlights MARKET HIGHLIGHTS FINANCIAL HIGHLIGHTS Continued lower utilizations in downstream Q4'FY23 Q3'FY24 Q4'FY24 Q-o-Q Y-o-Y FY23 FY24 Y-o-Y Particulars1 industries including Agrochemicals and Segment Revenue 522 450 435 -3% -17% 2,423 1,87
Slide 26: Annexures
Ww Iineneva 26
Slide 27: Group Overview
Group Overview Indian conglomerate with global presence, with USD 6Bn market cap and ~USD 2.3Bn revenue Established presence in diversified sectors, e.g., Agro and Pharma Intermediates,CDMO, Jubilant Bhartia Therapeutics, Speciality Chemicals, Nutrition, Food Service (QSR), Auto Group founded by Emp
Slide 28: Efficiencies through Multi Location Manufacturing & Operation Excellence
Efficiencies through Multi Location Manufacturing & Operation Excellence Overview of Manufacturing Facilities Gajraula, Bharuch, Nira, Savli, Ambernath, Uttar Pradesh, India Gujarat, India Maharashtra, India Gujarat, India Maharashtra, India Integrated facility for Agro-Actives and Agro- Chemical In
Slide 29: Established R&D Capabilities across multiple chemistry platforms
Established R&D Capabilities across multiple chemistry platforms Key 3 R&D centers in Noida, Gajraula 35 Key technology platforms developed & commercialized to and Bharuch global standards. Some are unique: Ammoxidation, Grignard etc. Highlights 140 highly qualified scientists (30 PhDs) 40+ Products
Slide 30: Sustainability: #2 in ESG rankings in Indian Chemical Industry
Sustainability: #2 in ESG rankings in Indian Chemical Industry • Received Gold Rating Bharuch Nira Gajraula • Achieved (Dec 2018) (Oct 2019) (Oct 2021) 93 percentile (Score 68/100) 157/200 164/200 186/200 Participated in S&P DJSI Assessment: (79%) (82%) (93%) Global chemical Climbed from 23rd • Achi
Slide 31: Bringing Progressive Social Change via Strategic Multi-Stakeholder Partnerships
Bringing Progressive Social Change via Strategic Multi-Stakeholder Partnerships Established Mission: To develop multi-stakeholder sustainable models to 1 Aspiring to touch the Lives in 2007 bring about ‘social change’ involving knowledge generation & Million sharing, experiential learning & entrepre
Slide 32: Annexure I - Income Statement | Consolidated – Q4 & FY24
Annexure I - Income Statement | Consolidated – Q4 & FY24 Particulars1 Q4'FY23 Q3'FY24 Q4'FY24 QoQ YoY FY23 FY24 YoY Revenue from operations a) Sales/Income from operations 1129 960 1060 10% -6% 4740 4100 -14% b) Other operating income 16 6 14 139% -8% 32 35 10% Total revenue from operations 1145 966
Slide 33: Annexure II: Income Statement Segmental – Q4 & FY24
Annexure II: Income Statement Segmental – Q4 & FY24 Particulars1 Q4'FY23 Q3'FY24 Q4'FY24 QoQ (%) YoY (%) FY23 FY24 YoY (%) Total Revenue from Operations 1,145 966 1,074 11% (6%) 4,773 4,136 (13%) Speciality Chemicals 468 365 475 30% 2% 1,798 1,586 (12%) Nutrition & Health Solutions 155 151 165 9% 6%
Slide 34: Annexure III: Debt Position | As on 31st March 2024
Annexure III: Debt Position| As on 31st March 2024 Particulars1 31-Mar-23 31-Dec-23 31-Mar-24 Long Term Borrowings 150 300 450 Short Term Borrowings 247 395 283 Total Gross Debt 397 695 733 Cash & Equivalent 85 58 80 Total Net Debt 312 636 653 YoY change 73% 81% 109% • Increase in Net Debt during th
Slide 35: Annexure III - Conference Call Details
Annexure III - Conference Call Details Diamond Pass Log-In Date : May 14th, 2024 Time : 05:00 pm IS 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, passco
Slide 36: Thank you for your time
For More Information For Investors: Jubilant Ingrevia Limited is a global integrated Life Science products and Innovative Solutions provider serving Pavleen Taneja Pharmaceutical, Nutrition, Agrochemical, Consumer and Industrial customers with customised products and solutions Jubilant Ingrevia Limi