India Glycols Limited · NSE:INDIAGLYCO
India Glycols — Q4 FY2025 Earnings Presentation
45 slides from India Glycols's earnings presentation, May 21, 2025
Slide 1: Stock exchange cover letter
IGL/SE/2025-26/09 21st May, 2025 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, Bandra (East), Mumbai – 400 001 Mumbai- 400
Slide 2: Investor Presentation Q4 & FY25
Investor Presentation Q4 & FY25 May 2025
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: Table of Contents
Table of Contents Proposed Restructuring Q4 & FY25 Financial Highlights Q4 & FY25 Segmental Highlights Business Overview Annual Financial Highlights Annexures
Slide 5: Q4 & FY25 Financial Highlights
Q4 & FY25 Financial Highlights
Slide 6: Highlights – Q4FY25
Highlights – Q4FY25 Business Performance Figures in ₹ Cr. Q4FY25 over Q4FY24 Net Revenue stood at ₹ 863 Cr in Q4FY25 vs. ₹ 926 Cr in Q4FY24 – Bio Fuel increased by 48.2% to ₹ 273 Cr – PS up by 14.8% YoY to ₹ 284 Cr – EB stood ₹ 52 Cr – BSPC stood at ₹ 254 Cr EBITDA increased by 35.1% at ₹ 148 Cr
Slide 7: Q4FY25 Performance Overview
Q4FY25 Performance Overview Figures in ₹ Cr. Gross Revenue Net Revenue EBITDA & EBITDA Margin PAT & PAT Margin +7% 11.7% 17.1% 4.5% 7.4% 2,189 2,039 -7% 926 +35% 863 +52% 148 64 109 42 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 ⦁ Gross Revenue reported a decent growth of 7%, while Net R
Slide 8: Highlights – FY25
Highlights – FY25 Business Performance Figures in ₹ Cr. FY25 over FY24 Net Revenue increased by 14.4% in FY25 to ₹ 3,768 Cr – PS up by 22.8% YoY to ₹ 1,163 Cr – Bio-Fuel up by 103.7% YoY ₹ 1,044 Cr – EB up by 6.9% YoY to ₹ 219 Cr – BSPC stood at ₹ 1,342 Cr, core focus segments have done well EBI
Slide 9: FY25 Performance Overview
FY25 Performance Overview Figures in ₹ Cr. Gross Revenue Net Revenue EBITDA & EBITDA Margin PAT & PAT Margin +14% 12..9% 13.9% 5.2% 6.1% +14% 9,039 7,922 3,768 +23% 3,294 +33% 525 428 231 173 PAT FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 ⦁ Strong Revenue growth reported on both Gross and Net levels, d
Slide 10: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. Particulars Q4FY25 Q4FY24 Y-o-Y (%) FY25 FY24 Y-o-Y (%) Gross Revenue from Operations 2,189 2,039 7.3% 9,039 7,922 14.1% Revenue from Operations (Net of excise) 863 926 (6.8%) 3,768 3,294 14.4% Other Income 2 5 15 26 Total Income 865 931 (7.1%) 3,783
Slide 11: Financial Summary - Standalone
Financial Summary - Standalone Figures in ₹ Cr. Particulars Q4FY25 Q4FY24 Y-o-Y (%) FY25 FY24 Y-o-Y (%) Gross Revenue from Operations 2,188 2,037 7.4% 9,038 7,919 14.1% Revenue from Operations (net of excise) 863 924 (6.6%) 3,767 3,291 14.5% Other Income 2 5 15 26 Total Income 864 928 (6.9%) 3,782 3
Slide 12: Highlights – Q4 & FY25 Other Highlights
Highlights – Q4 & FY25 Figures in ₹ Cr. Other Highlights JV reported a strong performance for the full year, with Net Revenue grew by 13% and EBITDA up by 70% as compared to FY24, primarily supported by reduced EO price gap and product-mix improvement NSU – commissioning nearly complete, good co
Slide 13: Q4 & FY25 Segmental Highlights
Q4 & FY25 Segmental Highlights
Slide 14: Segmental Highlights – Q4FY25
Segmental Highlights – Q4FY25 Net Revenue and EBIT Margin (%) Figures in ₹ Cr. Bio-Based Specialties and Potable Spirits (PS) Performance Chemicals (BSPC) 7.7% 11.4% 16.2% 27.6% 700 500 450 600 400 500 350 300 400 250 300 200 200 439 150 247 284 254 100 100 50 - - Q4FY24 Q4FY25 Q4FY24 Q4FY25 Bio-Fue
Slide 15: Segmental Highlights – FY25
Segmental Highlights – FY25 Net Revenue and EBIT Margin (%) Figures in ₹ Cr. Bio-Based Specialties and Potable Spirits (PS) Performance Chemicals (BSPC) 8.4% 9.3% 17.3% 22.0% 1, 600 1, 000 1, 400 900 800 1, 200 700 1,163 1, 000 600 800 1,629 947 1,342 500 400 600 300 400 200 200 100 - - FY24 FY25 FY
Slide 16: Segmental Revenue and EBIT Mix – Consolidated – Q4FY25
Segmental Revenue and EBIT Mix – Consolidated – Q4FY25 Revenue Mix EBIT Mix 6% 6% 3%23% 7% 36% 33% 29% 27% 47% 43% 13% 20% 61% 32% 14% Q4FY25 Q4FY24 Q4FY25 Q4FY24 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 – Consolidated – FY25
Segmental Revenue and EBIT Mix – Consolidated – FY25 Revenue Mix EBIT Mix 6% 5% 6% 35% 27% 10% 37% 31% 29% 49% 56% 45% 12% 16% 28% 8% FY25 FY24 FY25 FY24 BSPC Bio-Fuel PS EB 16 Consolidated Financials Note – The company has started reporting Bio-Fuel as a separate segment from Q1FY25, which was earl
Slide 18: Segment Performance – BSPC
Segment Performance – BSPC Figures in ₹ Cr. Particulars Q4FY25 Q4FY24 % YoY FY25 FY24 % YoY Bio-based Specialities and Performance Chemicals (BSPC) Net Revenue 254 439 (42.0%) 1,342 1,629 (17.6%) EBIT 29 34 (14.5%) 125 137 (8.7%) % margin 11.4% 7.7% 368 bps 9.3% 8.4% 91 bps Q4FY25 Revenue at ₹ 254
Slide 19: Segment Performance – Bio-Fuel
Segment Performance – Bio-Fuel Figures in ₹ Cr. Particulars Q4FY25 Q4FY24 % YoY FY25 FY24 % YoY Bio-based Specialities and Performance Chemicals (BSPC) Net Revenue 273 185 48.2% 1,044 512 103.7% EBIT 16 13 19.9% 57 31 83.7% % margin 5.8% 7.2% (137 bps) 5.4% 6.0% (59 bps) Q4 Revenue at ₹ 273 Cr., u
Slide 20: Segment Performance - PS
Segment Performance - PS Figures in ₹ Cr. Particulars Q4FY25 Q4FY24 % YoY FY25 FY24 % YoY Portable Spirits (PS) Net Revenue 284 247 14.8% 1,163 947 22.8% EBIT 78 40 96.1% 256 164 56.1% % margin 27.6% 16.2% 1,144 bps 22.0% 17.3% 471 bps Q4FY25 Revenue at ₹ 284 Cr, up by 14.8%; EBIT at ₹ 78 Cr., up
Slide 21: Segment Performance - EB
Segment Performance - EB Figures in ₹ Cr. Particulars Q4FY25 Q4FY24 % YoY FY25 FY24 % YoY Ennature Biopharma (EB) Net Revenue 52 56 (7.4%) 219 205 6.9% EBIT 4 7 (38.1%) 21 39 (46.2%) % margin 8.3% 12.4% (412 bps) 9.5% 18.8% (935 bps) Q4FY25 Revenue at ₹ 52 Cr vs ₹ 56 Cr in Q4FY24; FY25 Revenue at
Slide 22: Proposed Restructuring
Proposed Restructuring
Slide 23: Revised Proposed Scheme and Structure
Revised Proposed Scheme and Structure Management of IGL to enter into a composite scheme of Promoter Group 95.78% arrangement for the following: Kashipur Holdings Limited Demerger of Potable Spirits & Bio-fuel (KHL) and Bio-pharma Businesses – respective businesses to be transferred by way of KHL
Slide 24: Proposed Business Structure FY 2024-25
Proposed Business Structure FY 2024-25 Figures in ₹ Cr. Existing Structure Bio-based Specialties and Bio-Fuel Potable Spirits Ennature Biopharma Performance Chemicals Glycols, Glycol Ethers New IMFL Bio-Fuel Bio Pharma Specialties, Bio Polymers, ENA, Country Liquor Gases Gross Sales ₹ 1,341 Cr ₹ 1,0
Slide 25: Benefits of the Proposed Scheme
Benefits of the Proposed Scheme Each business will have a Will create a potential to Each business will manage its clear focus, leading to unlock value for capital, investments, and improved management stakeholders by drawing resources based on its specific and resource allocation focused investors
Slide 26: Business Overview
Business Overview
Slide 27: 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 ₹ 3,768 Cr ₹ 525 Cr Chemicals (BSPC), Bio-Fuel, Potable Spirits (PS) and Ennature Biopharma (EB). It is the first company in the world to prod
Slide 28: 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 29: IGL Journey of more than 3 decades
IGL Journey of more than 3 decades 1983-2000 2001 - 2007 2008-2014 2015-2022 2023-2025 1983: Incorporation as UP 2001: Starting of glycol 2008: Expansion of MEG 2015: Bio-polymers 2023: Sale of entire stake in Glycols Ltd ether plant and gaur gum plant and commissioning expansion Shakumbari Sugar an
Slide 30: 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 31: 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 32: 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 33: 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 34: 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 500 KLPD and 310 KLPD at Kashi
Slide 35: 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 36: 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 37: Annual Financial Highlights
Annual Financial Highlights
Slide 38: 3-year Financial Trajectory - Consolidated
3-year Financial Trajectory - Consolidated Figures in ₹ Cr. Gross Revenue Net Revenue 9,039 3,768 7,922 3,294 6,642 2,651 FY23 FY24 FY25 FY23 FY24 FY25 EBITDA & EBITDA Margin (%) Adj. PAT* & Adj. PAT Margin (%) 11.9% 12.9% 13.9% 5.3% 5.2% 6.1% 525 428 319 231 173 141 FY23 FY24 FY25 FY23 FY24 FY25 *
Slide 39: 3-year Key Ratios - Consolidated
3-year Key Ratios - Consolidated Return on Capital Employed (%) Debt-to-Equity Ratio (x) 11.6% 0.80 10.5% 0.64 0.58 7.7% FY23 FY24 FY25 FY23 FY24 FY25 Cash Conversion Cycle* (Days) Interest Coverage Ratio (x) 64 59 43 2.71 2.50 2.26 FY23 FY24 FY25 FY23 FY24 FY25 * Cash Conversion Cyle = Debtor Days
Slide 40: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. Particulars (In ₹ Cr) FY23 FY24 FY25 FY23-25 CAGR Gross Revenue from operations 6,642 7,922 9,039 16.7% Revenue from operations (Net of excise) 2,651 3,294 3,768 19.2% Other Income 24 26 15 Total Income 2,675 3,320 3,783 18.9% EBITDA 319 428 525 28.3
Slide 41: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. Balance Sheet Cash Flow Statement Particulars (₹ Cr.) (as at end of) FY23 FY24 FY25 Particulars (₹ Mn) FY23 FY24 FY25 Fixed Assets 2,690 3,171 3,736 Cash and Cash Equivalents (Opening Balance) 7 2 27 CWIP 125 84 98 Investment 318 335 381 Cash Flow fr
Slide 42: Annexures
Annexures
Slide 43: Shareholder’s Information
Shareholder’s Information Shareholding Pattern Shareholder Information as on 31st March 2025 Public & Others, 32.82% BSE Ticker 500201 NSE Symbol INDIAGLYCO Market Cap (in ₹ Cr.) 3,436.88 % Free- float 38.99% Bodies as on 31st March Free Float Market Cap (in ₹ Cr.) 1,340.04 Corporates, 2025 Shares O
Slide 44: Sustainability, ESG
Sustainability, ESG ocial 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 implement
Slide 45: 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 Gautam Budh Nagar Uttar Pradesh 201304 Tel: +91-120-6860000, 3090100, 3090