Jubilant Ingrevia Ltd Share Price – NSE /  BSE

Chemicals, Small Cap

Jubilant Ingrevia announced that the 5th Annual General Meeting (AGM) of the company will be held on 30 August 2024.

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Jubilant Ingrevia has redeemed commercial paper of Rs 100 crore on maturity date of 25 July 2024.

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Total revenue from operations stood at Rs 1,024.34 crore in Q1 FY25, down 4.71% from Rs 1,075.02 crore in Q1 FY24.

Profit before tax stood at Rs 66.03 crore in the first quarter of FY25, reporting a growth of 23.14% from Rs 81.31 crore in Q1 FY24.

EBITDA declined 5% to Rs 119 crore in Q1 FY25 as against Rs 125 crore in Q1 FY24. EBITDA margin remains constant at 12% in Q1 FY25 as compared with recorded in same quarter last year.

The company said that the volumes of Pyridine and Diketene derivatives witnessed a rising trend, while demand for Niacinamide & Pyrithiones remained steady. In acetyls, it remained focused towards maintaining market share, despite challenges being faced due to lower demand, container unavailability and a decline in acetic acid prices.

Strong traction continued in CDMO business, wherein the company started delivery of new orders during the quarter. It is also in advanced-stage discussions for multiple projects in Pharma, Agro and semi-conductor end-use.

Revenue from specialty chemicals grew by 8.25% YoY to Rs 475.33 crore in Q1 FY25, driven by increased on a YoY basis on account of higher volumes coming from pyridine building blocks, diketene and fine chemicals.

Revenue from nutrition & health solutions fell 7.87% YoY to Rs 186.34 crore in Q1 FY25, on account of sequential higher volumes from human end-use and cosmetic-grade products.

Revenue from chemical intermediates declined 19.73% on YoY to Rs 410.28 crore in first quarter of FY25. EBITDA declined 41% YoY to Rs 36 crore. The company said that revenue for the quarter was lower, although volumes remained steady. EBITDA during the quarter was impacted on account of higher ocean freight costs, mainly led by the container Crisis and overall realisations remaining subdued.

On outlook front, the company reaffirms its expectation of witnessing improvements in all three business segments in FY25 over FY24. Like last quarter, its key focus remains customer-centricity, ramping up the newly commissioned plants, remaining lean and bringing back the margins to normal levels.

The company is focused towards keeping the costs in control through its Project Lean and is on track to source renewable energy for long-term energy requirements, which also underscores firm commitment towards sustainability & environment. Its continue to see increasing utilisation of newly created plants, and remain on track with its capex plans towards investing in high-potential product categories to deliver on bold vision of Pinnacle 345, 3 times Revenue, 4 times EBIDTA, in 5 years.

Shyam S Bhartia, chairman, Jubilant Ingrevia, said, “The Pharmaceutical end-use segment, continues to witness rising demand trends with healthy volume placements. We are also glad to share that we have gained significant traction in the regulated markets of North America, Europe & Japan. We are witnessing continuous pressure on Acetyl segment owing to lower demand coming from the Paracetamol end-use segment.

The agrochemical sector has started to show marginal improvement. While the excess inventory situation is gradually easing out and volumes have started to move, the prices still remain under pressure due to the excess supply of agrochemicals globally. In the nutrition segment, the demand remained steady in line with the previous two quarters, and prices also moved up marginally towards the end of the quarter, except for Choline where Chinese imports remained aggressive.”

The company’s manufacturing facility at Bharuch, Gujarat has successfully completed its USFDA inspection with zero 483 observations. This good manufacturing practice (GMP)-compliant facility is meant for manufacturing nutraceuticals and dietary active ingredients.

Jubilant Ingrevia is a global integrated life science products and innovative solutions provider serving, pharmaceutical, nutrition, agrochemical, consumer and industrial customers with its customised products and solutions that are innovative, cost effective and conforming to premium quality standards. The company is engaged in manufacturing and supply of speciality chemicals, nutrition & health solutions and chemical intermediates through five manufacturing facilities in India.

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Total revenue from operations stood at Rs 1,024.34 crore in Q1 FY25, down 4.71% from Rs 1,075.02 crore in Q1 FY24.

Profit before tax stood at Rs 66.03 crore in the first quarter of FY25, reporting a growth of 23.14% from Rs 81.31 crore in Q1 FY24.

EBITDA declined 5% to Rs 119 crore in Q1 FY25 as against Rs 125 crore in Q1 FY24. EBITDA margin remains constant at 12% in Q1 FY25 as compared with recorded in same quarter last year.

The company said that the volumes of Pyridine and Diketene derivatives witnessed a rising trend, while demand for Niacinamide & Pyrithiones remained steady. In acetyls, it remained focused towards maintaining market share, despite challenges being faced due to lower demand, container unavailability and a decline in acetic acid prices.

Strong traction continued in CDMO business, wherein the company started delivery of new orders during the quarter. It is also in advanced-stage discussions for multiple projects in Pharma, Agro and semi-conductor end-use.

Revenue from specialty chemicals grew by 8.25% YoY to Rs 475.33 crore in Q1 FY25, driven by increased on a YoY basis on account of higher volumes coming from pyridine building blocks, diketene and fine chemicals.

Revenue from nutrition & health solutions fell 7.87% YoY to Rs 186.34 crore in Q1 FY25, on account of sequential higher volumes from human end-use and cosmetic-grade products.

Revenue from chemical intermediates declined 19.73% on YoY to Rs 410.28 crore in first quarter of FY25. EBITDA declined 41% to Rs 36 crore. The company said that revenue for the quarter was lower, although volumes remained steady. EBITDA during the quarter was impacted on account of higher ocean freight costs, mainly led by the container Crisis and overall realisations remaining subdued.

On outlook front, the company reaffirms its expectation of witnessing improvements in all three business segments in FY25 over FY24. Like last quarter, its key focus remains customer-centricity, ramping up the newly commissioned plants, remaining lean and bringing back the margins to normal levels.

The company is focused towards keeping the costs in control through its Project Lean and is on track to source renewable energy for long-term energy requirements, which also underscores firm commitment towards sustainability & environment. Its continue to see increasing utilisation of newly created plants, and remain on track with its capex plans towards investing in high-potential product categories to deliver on bold vision of Pinnacle 345, 3 times Revenue, 4 times EBIDTA, in 5 years.

Shyam S Bhartia, chairman, Jubilant Ingrevia, said, “The Pharmaceutical end-use segment, continues to witness rising demand trends with healthy volume placements. We are also glad to share that we have gained significant traction in the regulated markets of North America, Europe & Japan. We are witnessing continuous pressure on Acetyl segment owing to lower demand coming from the Paracetamol end-use segment.

The agrochemical sector has started to show marginal improvement. While the excess inventory situation is gradually easing out and volumes have started to move, the prices still remain under pressure due to the excess supply of agrochemicals globally. In the nutrition segment, the demand remained steady in line with the previous two quarters, and prices also moved up marginally towards the end of the quarter, except for Choline where Chinese imports remained aggressive.”

The company’s manufacturing facility at Bharuch, Gujarat has successfully completed its USFDA inspection with zero 483 observations. This good manufacturing practice (GMP)-compliant facility is meant for manufacturing nutraceuticals and dietary active ingredients.

Jubilant Ingrevia is a global integrated life science products and innovative solutions provider serving, pharmaceutical, nutrition, agrochemical, consumer and industrial customers with its customised products and solutions that are innovative, cost effective and conforming to premium quality standards. The company is engaged in manufacturing and supply of speciality chemicals, nutrition & health solutions and chemical intermediates through five manufacturing facilities in India.

Shares of Jubilant Ingrevia rose 0.37% to end at Rs 586.60 on Tuesday, 16 July 2024. The domestic market is closed today on account of Moharram.

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