Q4FY23 Quarterly & FY23 Annual Result Announced for Jubilant Ingrevia Ltd.
Specialty Chemicals firm Jubilant Ingrevia announced Q4FY23 & FY23 results: Q4FY23: Total Revenue - 1,145 crore Total EBITDA - 111 crore EBITDA Margin (%) - 9.7% Profit After Tax - 52 crore Profit After Tax Margin (%) - 4.6% Basic and Diluted EPS (Rs.) - 3.3 crore FY23: Total Revenue - 4,773 crore Total EBITDA - 580 crore EBITDA Margin (%) - 12.2% Profit After Tax - 308 crore Profit After Tax Margin (%) - 6.4% Basic and Diluted EPS (Rs.) - 19.3 crore Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, CoChairman, Jubilant Ingrevia Limited said: “We are happy to announce that during the year FY23 our Specialty chemicals business grew 29%, Chemical Intermediate business placed highest ever volume of Acetic Anhydride and gained higher market share globally, however Nutrition business have faced headwinds for Niacinamide leading to lower volume as well as lower price realization. EBIDTA in FY’23 was lower mainly on account of higher energy prices and challenging market situation of Niacinamide business. During the quarter, though our Specialty Chemicals businessrecorded higher revenue and Chemical Intermediate business have placed higher volume of Acetic Anhydride YoY, however overall revenue was lower due to lower price of Acetic Acid leading to lower price of Acetic Anhydride and the headwinds we continue to face in Niacinamide business. Though EBIDTA during the quarter for Chemical Intermediate business improved YoY however overall EBIDTA performance impacted due to challenging market situation of Niacinamide and some of our Specialty products meant for Agrochemicals customers. We firmly believe that the challenges faced in Niacinamide business and in some of our products in Specialty Chemical meant for Agrochemical customers are of short-term nature, and business is confident to regain volumes, revenue and profitability as market situation improves. Our endeavors towards our growth plans remains undeterred, through our structured growth capex and we are confident about delivering robust growth in the future, this growth will be led primarily through our Specialty Chemicals & Nutrition Business segment. We are also glad to share that the Board has recommended a final dividend of 250% i.e. Rs 2.5 per equity share of face value of Re 1 each for the FY23. This shall result in cash outflow of Rs 39.8 Crore. During the year company has already declared an interim dividend of 250% i.e. Rs. 2.5 per equity share of Rs 1 each and the total dividend for FY23 works out to be 500% i.e. Rs 5.0 Per equity share of Rs 1 each amounting to Rs 79.6 Crore of Cash outflow.” Result PDF16-05-2023
