Q2FY22 Quarterly Result Announced for Jubilant Ingrevia Ltd.
Highlights: Revenue grew by 56% on YoY basis, driven by robust growth in volume and prices. Speciality Chemicals revenue grew by 17% YoY driven by volume growth across product segments. Nutrition and Health Solutions revenue grew by 43% YoY driven by higher volumes and growth in Niacinamide price. Life Sciences Chemical revenue grew by 84% YoY, driven by higher prices on account of favorable market conditions and passing-on of higher input cost of acetic acid. EBITDA at Rs 202 Crore, grew by 44%, on account of strong performance of Life Sciences chemical segment led by favorable market conditions and volume growth in Nutrition and Health Solution. PAT grew by 43% YoY driven by growth in EBITDA, added by reduction in finance cost through reduction in Gross debt and optimization of Interest rates. ROCE in H1’FY22 improved to 33.2% against 20.2% in FY21 ROE in H1’FY22 improved to 26.6% over 16.4% in FY21. Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, CoChairman, Jubilant Ingrevia Limited said: “With immense pleasure, I would like to announce that we have delivered yet another strong financial performance in Q2’FY22 and reported our highest ever revenue during the Quarter & Half Year ended 30th Sept’21. Supply disruptions from China is coming to our advantage, due to which we are witnessing strong demand in most of our products and that is giving us an opportunity to increase our share with the global customers, while on the sourcing side we are having negligible dependence on China. We are finding unprecedented increase in almost all the input raw materials, fuels like Coal & Gas & Logistic cost, however our business team is confident to pass on the incremental costs by working closely with customers. In our Specialty Chemicals segment we witnessed strong growth across the products led by growing demand from Pharmaceutical and Agrochemical customers. In Nutrition & Health Solution the demand of Vitamin B3 has been stable, and prices started to increase in Vitamin B3. We continue to work to improve our market share in niche segments like food and cosmetics. In Life Science Chemical Segment, we witnessed healthy demand from Pharmaceutical and Agrochemical customers resulting in volume growth in all the products. I am happy to announce that we reduced the net debt further by Rs 193 Crore during Q2’FY22. Looking Ahead we are excited with the growth opportunities in our businesses and we are fully committed to realize them. We have developed strong product pipeline using in-house R&D;, our technical expertise into various chemistry platforms and long-standing relationship with global Pharmaceutical & Agrochemical customers including Innovators. We are prioritizing and investing in several growth capex in next 2-3 years to launch these products to achieve our growth target of doubling the revenue by FY’26 from the base of FY’21.” Result PDF19-10-2021