Press Releases

  • 25 August 2023

    Dr. Shuchin Bajaj of Ujala Cygnus Healthcare wins the prestigious 14th Social Entrepreneur of the Year (SEOY) Award - India 2023 presented by Mr. Amitabh Kant, G-20 Sherpa, Government of India

    Noida, Uttar Pradesh, August 25, 2023: The Jubilant Bhartia Foundation and the Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum today conferred Dr. Shuchin Bajaj of Ujala Cygnus Healthcare with the prestigious 14th Social Entrepreneur of the Year Award - India 2023. The award was presented by Mr. Amitabh Kant, G-20 Sherpa, Government of India, at a grand ceremony in the presence of eminent personalities.

    Congratulating the winner and finalists and lauding the work of social entrepreneurs worldwide, Mr. Amitabh Kant, G-20 Sherpa, Government of India, said, I have great admiration for the Schwab Foundation for Social Entrepreneurship, World Economic Forum and the Jubilant Bhartia Foundation for consistently supporting social entrepreneurship and social innovation. We must recognise the transformative power of social economy. This platform of social entrepreneurship has been greatly instrumental in highlighting the innovative models that have the potential to shape a better India of tomorrow. Social entrepreneurs are the driving force behind positive change, crafting a narrative of progress and impact.  Their dedication has not only ignited hope but has translated into tangible transformations for individuals and communities across India.

    The SEOY Award - India 2023 winner, Dr. Shuchin Bajaj is bringing the revolution of super-speciality tertiary health care to the untouched and unserved communities at their convenience and cost. Through its chain of low-budget-and-patient-friendly-tertiary-care hospitals, it is enabling access to high-quality integrated healthcare infrastructure and services for underserved communities in tier 2&3 cities of India. Ujala Cygnus has benefitted over 2 million patients with over 500 doctors & medical experts in 17 cities and trained over 55,000 community medical practitioners.

    Ms. Hilde Schwab, Co-Founder and Chairperson, of the Schwab Foundation for Social Entrepreneurship, and Professor Klaus Schwab, Founder & Executive Chairman of the World Economic Forum and Co-Founder of the Schwab Foundation for Social Entrepreneurship applauded the work of the social entrepreneurs and congratulated the winner & finalists and shared, “Social entrepreneurs play a critical role as the driving force for innovation, applying creativity and commitment to develop ground-breaking solutions that tackle pressing systemic issues. The rich social innovation landscape in India provides globally relevant models for the sustainable development agenda. The Schwab Foundation for Social Entrepreneurship has been proud to partner with the Jubilant Bhartia Foundation in recognising the exceptional work of Indian social entrepreneurs over the past 14 years. This year’s winner and finalists of the Social Entrepreneur of the Year Award - India embody the spirit of social innovation and entrepreneurship, exemplifying their dedication to creating lasting societal impact.”

    Congratulating the winner and the finalists, Mr. Shyam S Bhartia, Chairman and Founder and Mr. Hari S Bhartia, Chairman & Co-Founder, of Jubilant Bhartia Group and Founder Directors of Jubilant Bhartia Foundation, shared, This year is extremely special for our relationship with the Schwab Foundation for Social Entrepreneurship as we complete 14 years of our partnership. We are proud of our unique and rewarding partnership through which we have been able to provide social entrepreneurs with a global platform to showcase their work, scale up their initiatives and cross-learn from a rich alliance of similar high-spirited individuals. Congratulations to the deserving winners and finalists of this year’s SEOY Award - India 2023. The showcase of their work will be an inspiration for many others.”

    Highlighting the importance and role of social entrepreneurs Mr. Bórge Brende, President, World Economic Forum said, “We need to create the right environment for social entrepreneurship and we have a long way to go. Social Entrepreneurship under India’s presidency of G-20 has further underpinned its importance.”

    “For 25 years, Prof Klaus and Hilde Schwab rightly predicted for Social entrepreneurship to be a significant sector in the world. And we witness this with the momentum of the United Nations resolutions that has just been passed for the social economy and the need for business to partner with social enterprises.” said François Bonnici, Director, Schwab Foundation for Social Entrepreneurship; Head of Foundations, World Economic Forum

    Dr. Shuchin Bajaj of Ujala Cygnus Healthcare on winning the SEOY Award - India 2023, shared, “My heartfelt gratitude to the Jubilant Bhartia Foundation, Schwab Foundation of Social Entrepreneurship and the World Economic Forum for this esteemed national recognition. This award carries profound significance, reaffirming our unwavering dedication to enhancing the quality of life in India. We must together make sure to bring down the number of 60 million people slipping below poverty line due to health expenditures.”

    The winner of the SEOY Award- India, Dr. Shuchin Bajaj of Ujala Cygnus Healthcare will join the world’s largest and the first inter-sectoral community of social innovators in the world affiliated with the Schwab Foundation for Social Entrepreneurship.

    Ms. Sheeren Bhan, the Managing Editor of CNBC TV 18 hosted the award ceremony.

    The other finalists for SEOY Award - India 2023 were Dr. Aparna Hegde from ARMMAN, Ms. Bijal Brahmbhatt from Mahila Housing Sewa Trust and Ms. Anuradha Parekh & Mr. Dhimant Parekh from The Better India. The winner and finalists of SEOY Award - India 2023 will also get an opportunity to apply for the Hindustan Times Fellowship for the Stanford Seed Transformation program.

    This year the SEOY Award – India celebrates its 14th year. Over the last decade, it has established itself as one of the most respectable awards for social entrepreneurs in India. In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India.

  • 21 August 2023

    Mr. Amitabh Kant, G-20 Sherpa, Government of India to present 14th ‘Social Entrepreneur of the Year’ Award India, 2023

    The Jubilant Bhartia Foundation and the Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, are pleased to announce that Mr. Amitabh Kant, G-20 Sherpa, Government of India will be the Chief Guest at the 14th Social Entrepreneur of the Year Award India, 2023 on August 25, 2023.

    The Jubilant Bhartia Foundation and the Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, are pleased to announce that Mr. Amitabh Kant, G-20 Sherpa, Government of India will be the Chief Guest at the 14th Social Entrepreneur of the Year Award India, 2023 on August 25, 2023. The award will be presented by Mr. Kant at a ceremony in New Delhi amongst distinguished global leaders and representatives from various sectors gathered to celebrate the spirit of social entrepreneurship. This year, the award ceremony is being held on the side-lines of B-20.

    The winner of this year’s Social Entrepreneur of the Year Award India, 2023 will be chosen by a distinguished jury comprised of industry stalwarts and eminent personalities from different backgrounds.

    The winner will be selected from amongst the four high-impact social innovators as finalists.

    These four social innovators have been selected after an extensive selection process based on parameters such as the organisation’s orientation towards addressing social inequalities, exclusion and marginalisation; uniqueness of the social model, ability to create sustainable systemic level changes and demonstrated social impact:

    1. Dr. Aparna Hegde from ARMMAN, Mumbai - ARMMAN leverages mHealth to create cost-effective, scalable, gender-sensitive, non-linear, systemic solutions to improve access of pregnant women and mothers to preventive information and services along with training health workers to reduce maternal and child mortality/morbidity.

    2. Ms. Bijal Brahmbhatt from Mahila Housing Sewa Trust, Ahmedabad – Aimed at improving the habitat of poor women from the informal sector in cities, MHT invests in women’s collectives and leadership that advances a constructive dialogue and responsible urban development.

    3. Mr. Dhimant Parekh & Ms Anuradha Parekh from The Better India, Bengaluru - The Better India (TBI) ushered a whole new positive movement in the country - by using the power of stories to effect large-scale social impact.

    4. Dr. Shuchin Bajaj from Ujala Cygnus Healthcare, New Delhi - Ujala Cygnus through its chain of low-budget-and-patient-friendly-tertiary-care hospitals is enabling access to high-quality integrated healthcare infrastructure and services for underserved communities.

    For more details on the finalists, please click here.

    The winner of the SEOY Award India 2023 will join the social innovators’ community of the Schwab Foundation for Social Entrepreneurship, a leading global platform that has accelerated outstanding models of social innovation for over 25 years. The Winner and Finalists of SEOY Award India 2023 will also have the opportunity to apply for the Hindustan Times Fellowship for the Stanford Seed Transformation program.

    Now celebrating its 14th year, the SEOY Award India has established itself as one of the most reputed and coveted awards for social entrepreneurs in India.

    In 2009, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award India 2023 and has since recognised and supported the growing field of social innovation in India. Over the last decade, it has established itself as one of the most reputable awards for social entrepreneurs.

    Note to the Editors:

    The Schwab Foundation for Social Entrepreneurship, founded in 1998, is a not-for-profit organization which provides a global platform that advances the world’s leading models of sustainable social innovation. In collaboration with the World Economic Forum, for more than 20 years, the Schwab Foundation has selected and curated a community of over 400 late-stage social innovators who work in 190 countries and highlighted leading social innovation models to top decision-makers in business and government.

    Learn more at www.schwabfound.org
    Follow The Schwab Foundation on:

    Twitter: @SchwabFound
    Facebook: www.facebook.com/schwabfound/
    Instagram: www.instagram.com/schwabfoundation/
    LinkedIn: www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship/

  • 08 August 2023

    Four Top Social Innovators make it to the final round of India's Most Prestigious Social Entrepreneur of the Year (SEOY) India Award 2023

    Schwab Foundation for Social Entrepreneurship in partnership with the Jubilant Bhartia Foundation, today announced the finalists for the most awaited 14th edition of the ‘Social Entrepreneur of the Year’ India Award 2023.

    Schwab Foundation for Social Entrepreneurship in partnership with the Jubilant Bhartia Foundation, today announced the finalists for the most awaited 14th edition of the ‘Social Entrepreneur of the Year’ India Award 2023. The prestigious award recognises and celebrates the outstanding contributions of social innovators in India who have transformed lives and communities through their exceptional socio-business initiatives.

    The extensive selection process is based on various parameters such as the organization’s orientation towards addressing social inequalities, exclusion and marginalization; uniqueness of the social model or initiative, and ability to create sustainable systemic level changes. The Schwab Foundation and Jubilant Bhartia Foundation teams also conducted background research, personal and team interactions, impact assessment, expert reviews and reference checks to select the following four high-impact social innovators as finalists:

    1. Dr. Aparna Hegde, ARMMAN, Mumbai
    www.armman.org

    2. Ms. Bijal Brahmbhatt, Mahila Housing Sewa Trust, Ahmedabad
    www.mahilahousingtrust.org

    3. Mr. Dhimant Parekh & Ms. Anuradha Parekh, The Better India, Bengaluru
    www.thebetterindia.com

    4. Dr. Shuchin Bajaj, Ujala Cygnus Healthcare, New Delhi
    www.ujalacygnus.com

    The winner of the Social Entrepreneur of the Year India Award will be chosen by a distinguished jury comprised of industry stalwarts and eminent personalities from different backgrounds. The award will be announced on August 25, 2023 in a grand ceremony in New Delhi amongst distinguished global leaders and representatives from various sectors gathered to celebrate the spirit of social entrepreneurship. This year, the award ceremony will be on the side-lines of B20 - Business 20 of G20 in India.

    The SEOY India Award 2023 received 110 diverse applications this year, with around 60% of them being first-time applicants, reflecting the reach of the platform to newer organisations. The top five sectors in applications consisted of Education, Health, Rural Development, Environment (waste management), Water and Enterprise Development.

    Through their humanitarian approaches, the shortlisted finalists, have exhibited unparalleled commitment towards addressing some of India's most pressing social challenges. Their contributions range from:

    a) providing support to maternal and neonatal cases in remote regions by leveraging technology to connect and resolve primary health complications of pregnant women and new-born babies

    b) bringing constructive advancements for women of urban-built landscapes in poor communities by improving their housing, living, and working environments

    c) bringing innovative solutions of affordable and accessible healthcare services in poor housing localities

    d) bringing the stories of positivity and change from the unseen India to the mainstream for amplification as well as bringing societal optimism and inspiration lead impact

    As part of the award, the winner of the SEOY India Award 2023 will join the social innovators community of the Schwab Foundation for Social Entrepreneurship, a leading global platform that has accelerated outstanding models of social innovation for over 25 years. The Winner and Finalists of SEOY India Award 2023 will also have the opportunity to apply for the Hindustan Times Fellowship for the Stanford Seed Transformation program.

    In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) India Award 2023 and has since recognised and supported the growing field of social innovation in India. Over the last decade, it has established itself as one of the most reputable awards for social entrepreneurs.

    Meet the finalists:

    Dr. Aparna Hegde
    ARMMAN

    www.armman.org
    Year Established: 2008
    Sector: Health

    About: With the vision of a world where every mother is empowered and every child is healthy, ARMMAN leverages mHealth to create cost-effective, scalable, gender-sensitive, non-linear, systemic solutions to improve access of pregnant women and mothers to preventive information and services along with training health workers to reduce maternal and child mortality/morbidity. It adopts a blended ‘tech plus touch’ approach by leveraging the health worker network of the government and partner NGOs along with deep mobile penetration. ARMMAN leverages deep mobile penetration with existing health worker network and infrastructure to, provide preventive care information to women through pregnancy and infancy enabling them to seek care in time and train and support health workers for timely detection and management of high-risk conditions. ARMMAN is currently implementing the largest mobile-based maternal messaging programme (Kilkari) and the largest mobile-based training programme for frontline health workers (Mobile Academy) in India. Since its inception in 2008, its programmes have impacted the lives of almost 40 million pregnant women, new mothers and their families and trained over 3.24 lakh health workers in 20 states and Union Territories of India.

    Bijal Brahmbhatt
    Mahila Housing Trust (MHT)

    www.mahilahousingtrust.org
    Year Established: 1994
    Sector: Women-led development, Inclusive and Climate Resilient Urban Development

    About: With a vision of improving the habitat of poor women from informal sector in cities, MHT invests in women’s collectives and leadership that advances a constructive dialogue and responsible urban development. It acts as an anchor organisation to Awaas SEWA Pvt. Ltd. and Credit Cooperatives, both owned by poor women. MHT mobilises women for good governance and empowers them thereby to take charge of their habitat improvement. By forging a unique relationship between poor communities and local governments, it advances access to basic services, promotes climate resilience, and deepens participatory and inclusive governance. Over the last two decades, MHT through its presence in 9 states, has helped poor women in accessing over US$ 20 million worth of public resources. It is serving 1126 slum settlements, reached 4,50,857 households and created around 16,000 Community Action Group women leaders. With its efforts, 53,500 households get potable water; 59,870 got access to toilets; and 1,81, 708 access grid electricity. It has trained 13,732 women as climate sathis.

    Dhimant Parekh and Anuradha Parekh
    The Better India,

    www.thebetterindia.com
    Year Established: 2008
    Sector: Media

    About: The Better India (TBI) ushered a whole new positive movement in the country - by using the power of stories to effect large-scale social impact. It is the world’s largest positive stories platform publishing in English, Hindi, Gujarati, Bangla & Marathi. It unearths stories of ordinary unsung heroes, community change-makers, remarkable ideas and ground-breaking innovations that often go unnoticed by traditional media. The platform inspires millions of Indians on a daily basis to be a part of a movement of change and is working towards making every citizen a force of good. It has also undertaken several impactful campaigns that have brought long-lasting change in the country. TBI's stories have led to positive changes in government policies, brought water & sanitation in villages, helped farmers come out of poverty, raised funds for slum schools, taken social enterprises global and much more.

    93% of TBI’s readers have found inspiration in their stories, fuelling their drive to actively contribute towards positive social change. The Better India reaches out to over 200 million people every month across all its channels.

    Dr Shuchin Bajaj
    Ujala Cygnus Healthcare,

    www.ujalacygnus.com
    Year Established: 2011
    Sector: Healthcare

    About: With a mission of ‘Building trust by saving and caring for lives with dignity, affordability and quality, Ujala Cygnus through its chain of low-budget-and-patient-friendly-tertiary-care hospitals is enabling access to high-quality integrated healthcare infrastructure and services for underserved communities in tier 2&3 cities of India. It is bringing the revolution of super-speciality tertiary health care to the untouched and unserved communities at their convenience and cost. Ujala Cygnus is also mobilising the community on various facets of health awareness through health/medical camps for rural outreach and has launched several initiatives for community education and empowerment like the unique Sehat Chaupals among others. It also conducts interactive academic sessions called Continuous Medical Education (CME) programs for community medical practitioners by expert doctors. Over 5000 CMEs have trained over 55,000 community medical practitioners so far. With a network of 20 hospitals across 15 cities in tier 2&3 cities of Haryana, Uttar Pradesh, Jammu & Kashmir and Delhi, and with the support of over 300 doctors and medical experts, the Ujala Cygnus hospitals have catered to over 2 million patients since inception.

    About Us:

    The Schwab Foundation for Social Entrepreneurship, founded in 1998, is a not-for-profit organization which provides a global platform that advances the world’s leading models of sustainable social innovation. In collaboration with the World Economic Forum, for more than 20 years, the Schwab Foundation has selected and curated a community of over 400 late-stage social innovators who work in 190 countries and highlighted leading social innovation models to top decision-makers in business and government.

    Learn more at www.schwabfound.org
    Follow The Schwab Foundation on:
    Twitter: @SchwabFound
    Facebook: https://www.facebook.com/schwabfound/
    Instagram: https://www.instagram.com/schwabfoundation/
    LinkedIn: https://www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship/

  • 26 July 2023

    Jubilant Ingrevia - Q1’FY24 Results

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter ended June 30th, 2023.

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    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter ended June 30th, 2023.

    Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman, Jubilant Ingrevia Limited said:

    “We are pleased to announce stable performance in Q1’FY24, given the backdrop of depressed market conditions specifically in Agrochemical end use markets.

    In our Specialty Chemicals Business, demand from our Agrochemical customers globally continue to face headwinds due to exceptionally higher pipeline inventories. However, demand from our Pharmaceutical and other customers has improved leading to improved price realization and margins from these products including CDMO.

    In our Nutrition & Health Solution Business, Niacinamide sales volumes improved significantly, resulting into revenue growth. We continue to witness improved price realisation due to higher demand in the segment. Business continue to maintain global leadership position in Niacinamide and focus on Niche segments like Food & Cosmetics.

    In our Chemical Intermediates Business, we continue to improve our market share of key product Acetic Anhydride, despite the challenges of lower demand from Agrochemical end-use segment. We also witnessed lower price realisation in the segment due to pricing pressure from Agro end-use of Acetic Anhydride and lower realisation of Ethyl Acetate in Exports market.

    We are witnessing softening of coal prices and with that our overall energy cost is expected to normalise. 

    We remain committed towards our growth plans and are confident that our well defined capex plan will deliver structured growth in the future as planned.”

    Q1’FY24 Highlights | Segment Wise Analysis

    A. Speciality Chemicals

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    • Registered growth in volumes of Specialty products towards non-agrochemical end-use including CDMO, resulting into normalization and sequential margins improvement of overall segments.
    • Demand from customers from Agrochemical end use continue to face headwinds mainly due to higher channel inventory at the customer end.
    • Our GMP and non-GMP plants for CDMO products, commissioned in the last quarter are ramping up as per plan and are helping to meet increased demand from our CDMO customers.
    • Business continue to focus on optimising energy cost through various initiatives both on generations as well as on consumption side.

    B. Nutrition & Health Solutions

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    • Our Nutrition & Health Ingredients (NHI) business registered significant improvement in Niacinamide volumes. We continue to see improvement in Price realisation of Niacinamide globally.
    •  NHI Business continues to focus on improving volumes and share from customers in niche segments i.e. Cosmetics and Food grade.
    •  In NHI business developmental work for Food grade Vitamin B4 is almost over and business is at advance stage of finalising capex for GMP compliant facility of Vitamin B4, approval shall take place in the ensuing quarter.
    •  Animal Nutrition & Health Solution (ANHS) business continues to focus on speciality products and planning to enhance capacity for Specialty Premix products to cater to the improved demand.

    C. Chemical Intermediates Segment

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    • Newly commissioned Acetic Anhydride plant at Bharuch is ramping up as expected.
    •  Business continues to improve its market share of Acetic Anhydride in domestic as well as International market.
    •  The Price realizations of Acetic Anhydride witnessed headwinds especially from Agrochemical end-use customers, due to the global pricing pressure in their end products.
    •  Business continues to rationalize sales of Ethyl Acetate due to excess supply, while the demand for Ethyl Acetate has further impacted negatively in EU and US regions.
    •  In Speciality Ethanol, business continues to rationalize sales to niche customers.

    D. Income Statement – Q1’FY24

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    1. All figures are in Rs Crore unless otherwise stated

    E. Segment P&L – Q1’FY24

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    F. Key Ratios

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  • 16 May 2023

    Jubilant Ingrevia - Q4 & FY23 Results

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter and year ended March 31st, 2023.

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter and year ended March 31st, 2023. The Board of Directors at its meeting held on 16th, May, 2023 has declared a final dividend of Rs. 2.50 per share of Rs. 1 each amounting to Rs. 39.8 Crores. 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 FY’23 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.

    Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman, 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 business recorded 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 FY’23. 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 FY’23 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.”

    Q4 & FY23 Highlights | Segment Wise Analysis

    A. Speciality Chemicals

    • Business recorded good revenue growth in FY23 led by healthy volume growth.
    • Segment EBITDA & Margins during the year were impacted due to high Energy cost and headwinds faced in some of the Specialty products meant for Agrochemical customers
    • Demand impact of products meant for Agrochemicals customers is of short-term in nature and should start improving by end of Q2’FY24.
    • Business continues witnessing positive traction in CDMO products.
    • New cGMP multipurpose plant in Bharuch and Non-GMP plant in Gajraula is commissioned, this will aid in volume and revenue growth of CDMO business in coming quarters.
    • Higher capacity utilization of existing and new plants coupled with new product pipeline thru new growth capex will enable future growth in Specialty chemical.

    B. Nutrition & Health Solutions

    • Business during the year impacted due to Avian and Swine Flu in EU and US regions, resulting into lower volume and significant price erosion of Niacinamide (Vitamin B3).
    • Niacinamide volumes improved sequentially during Q4.
    • Expect improvement in Niacinamide global demand.
    • Domestic business of Choline Chloride(Vitamin B4) continues to maintain its market leadership.
    • Approved new cGMP compliant facility for producing Cosmetic grade Niacinamide during the quarter.
    • Development work of new cGMP compliant capacity for Food grade Vitamin B4 (i.e Choline Chloride & Choline Bitartrate ) is on track. We expect to approve this capex soon.

    C. Chemical Intermediates Segment

    • Revenue of the year is lower on account of lower feed stock prices i.e. Acetic Acid, leading to lower price realization of both Acetic Anhydride & Ethyl Acetate.
    • EBITDA for the year is lower due to normalization of Acetic Anhydride market situation leading to normalization of price.
    • Business continues to place higher volumes in global market, enhancing market share of Acetic Anhydride globally.
    • Outlook for Acetic Anhydride market appears to be stable, Global demand continues to grow in several end-use segments.
    • Business continues to rationalize sales of Ethyl Acetate and Specialty Ethanol to niche customers.
    • Successfully commissioned New Acetic Anhydride plant in Bharuch.

    D. Income Statement – Q4 & FY23

    1. All figures are in Rs Crore unless otherwise stated

    E. Segment P&L - Q4 & FY23

    F. Balance Sheet & Key Ratios

    Key Ratios

  • 17 April 2023

    Strengthens Its Global Market Leadership in the Acetyls Business

    Jubilant Ingrevia Limited, today announced the commissioning of its new globalscale Acetic Anhydride plant, at its manufacturing facility in west India at Bharuch, Gujarat. This plant adds around 60,000 MT of capacity, whereby scaling Jubilant Ingrevia Limited’s overall annual Acetic Anhydride capacity to 210,000 MT. This enhanced capacity will also help the Company to increase its global presence in various geographies and achieve leadership position in the global merchant markets. In the domestic market it further strengthens and consolidates Jubilant Ingrevia Limited’s position as a market leader.

    For several decades now, Jubilant Ingrevia Limited has been regarded as a ‘partner of choice’ globally for supplying Acetic Anhydride for various end-usages. This facility augmentation will further strengthen the relationship that Jubilant Ingrevia Limited enjoys with its global clients.

    With this additional capacity, Jubilant Ingrevia Limited also provides opportunity to its global customers to further expand their downstream products across end-user industries viz. Pharmaceuticals, Agrochemicals, Food, Vitamins, Wood Acetylation, Electronics, Dyes industry etc.

    On this occasion, Mr. Rajesh Srivastava, CEO & Managing Director, Jubilant Ingrevia Limited said, “We are pleased with the commissioning of our new global scale Acetic Anhydride plant. We are happy to see that our efforts to become a reliable supplier of Acetic Anhydride for international customers, is now showing significant results. This has led us to the decision to add a new plant with global scale capacity and hence achieve leadership in Acetic Anhydride’s global merchant market.

    With our well-established global distribution network, this additional capacity of Acetic Anhydride will further ensure sufficient feedstock availability for our various global customers for their end products, as well as help them achieve their desired growth across global markets.”

  • 10 April 2023

    Call for India’s Social Change Leaders: Applications invited for the Prestigious ‘Social Entrepreneur of the Year (SEOY) - India Award 2023’

    Call for India’s Social Change Leaders: Applications invited for the Prestigious ‘Social Entrepreneur of the Year (SEOY) - India Award 2023’ Noida, Uttar Pradesh, April 10, 2023

    Call for India’s Social Change Leaders: Applications invited for the Prestigious ‘Social Entrepreneur of the Year (SEOY) - India Award 2023’ Noida, Uttar Pradesh, April 10, 2023: Jubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, invite applications for the 14th edition of the annual competition - Social Entrepreneur of the Year (SEOY) India Award 2023. The application entry for the award will be accepted till April 30, 2023. Interested candidates may submit the application form available at www.jubilantbhartiafoundation.com or can email the filled form to jbf.seoy@jubl.com

    The winner of the Social Entrepreneur of the Year (SEOY) India Award 2023 will be announced in the last week of August, 2023 by an eminent personality in a magnificent ceremony at New Delhi.

    The winner of the SEOY Award - India will join the world’s largest and the first inter-sectoral community of social innovators in the world affiliated with the Schwab Foundation for Social Entrepreneurship to engage, build and sustain their social enterprises.  

    The participating individuals and organisations are evaluated on the key parameters of Market-based, Technology-enabled, Sustainability, Direct Social Impact, Reach & Scope, Replicability. The finalists will be selected following an intensive search and selection process, including expert reviews, interviews and site visits. The winner is selected by a prominent jury consisting of eminent leaders and professionals from the Government, Business, Media, and Civil Society.

    The Social Entrepreneur of the Year (SEOY) India Award aims to promote and celebrate leading social entrepreneurs and their unique ventures in India that help in addressing the various gaps in our society and country. Through providing recognition, the SEOY India Award hopes to inspire many other potential social entrepreneurs in India every year.

    In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India and they have since recognised and supported the growing field of social innovation in India. This year the SEOY Award – India celebrates its 14th year. Over the last decade it has established itself as one of the most respectable awards for social entrepreneurs in India.

    The award recognises individuals and organisations who implement innovative, sustainable and scalable solutions to address pressing issues faced by under-served communities to make inclusive growth a reality in India. They work in diverse areas such as health, education, employment, water, clean energy, building identity & entitlements, financial literacy, access to information and technology among others.

    Key Highlights

    Who can participate: Accomplished social change leaders across diversity of large-scale, system change and social innovation models in society

    How to participate: Submit application form available at www.jubilantbhartiafoundation.com or email filled form to jbf.seoy@jubl.com.

    Last Date: April 30, 2023

    Evaluation parameters: Market-based, Technology-enabled, Sustainability, Direct Social Impact, Reach & Scope, Replicability.

    Benefits:

    • Access to the world’s most influential network
    • Showcase awardees’ solutions to the highest level of decision-makers
    • Build leadership capacity of awardees by strengthening their organisational and business strategies through executive education programmes at top universities, practitioner-oriented research and curated programming at global and regional meetings
    • Create spaces for reflection and peer-to-peer mentoring

    Past winners:

    Aniket Doegar from Haqdarshak Empowerment Solutions won the Social Entrepreneur of the Year (SEOY) Award - India 2022, presented by Shri. Anurag Singh Thakur, Hon. Union Minister for Information & Broadcasting and Minister for Youth Affairs & Sports, Government of India. Haqdarshak Empowerment Solutions is solving the information and access gap between citizens and the government’s welfare schemes at the last mile, through its tech-enabled intervention. Present in 24 states in India it has trained over 22,800 agents and provided benefits worth Rs 4,000 crore for over 20 lakh families and 35,000 micro businesses.

    Year SEOY India Winner & Winning Organisation
    2021 Pranshu Singhal, Karo Sambhav
    2020 Ashraf Patel, Pravah & ComMutiny Youth Collective
    2019 Shanti Raghavan & Dipesh Sutariya, EnAble India
    2018 Prema Gopalan, Swayam Shikshan Prayog
    2017 Urvashi Sahni, Study Hall Educational Foundation (SHEF)
    2016 Neichute Doulo, Entrepreneurs Associates
    2015 Poonam Bir Kasturi, >Daily Dump
    2014 H Sudarshan, Karuna Trust
    2013 Chetna Vijay Sinha, Mann Deshi Group of ventures
    2012 Anshu Gupta, Goonj
    2011 Neelam Chhiber, Industree
    2010 Rajiv Khandelwal & Krishnavtar Sharma, Aajeevika Bureau

    About

    Schwab Foundation for Social Entrepreneurship was co-founded by Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, and his wife Hilde. For over twenty years, the Schwab Foundation for Social Entrepreneurship has supported the world’s leading social innovators in their efforts to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation.

    For more info please visit: www.schwabfound.org

    Follow the Schwab Foundation for Social Entrepreneurship on:

    Twitter: https://twitter.com/schwabfound

    Facebook: https://www.facebook.com/schwabfound/

  • 31 January 2023

    Jubilant Ingrevia – Q3 & 9M‘FY23 Results*

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter ended December 31st, 2022.

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter ended December 31st, 2022. The Board of Directors at its meeting held on 31st, January, 2023 has declared an interim dividend of Rs. 2.50 per share of Rs. 1 each amounting to Rs. 39.8 Crores.

    Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co- Chairman, Jubilant Ingrevia Limited said:

    “We are pleased to announce stable performance during the quarter under review, amidst the continuing headwinds of higher energy costs and challenging global market situation.

    We are also glad to share that the Board has recommended interim dividend of 250% i.e. Rs 2.50 per equity share of face value of Re 1 each for the FY’23. This shall result in cash outflow of Rs 39.8 Crore.

    We are pleased to inform that our Specialty Chemicals Business revenue grew by 34% YoY and absolute EBIDTA grew by 15% YoY driven by higher volumes and improved price realization.

    In Nutrition & Health Solution business the demand of Niacinamide (Vitamin B3) continue to be subdued impacting our price realization though we have improved our volumes sequentially. The flu situation in EU and US regions is still continuing, though the situation is improving in EU region. The demand related challenges of Vitamin B3 are short-term and we continue to remain focused towards improving our presence in food and cosmetics segment.

    In Chemical Intermediates Business the revenue on YoY basis is impacted due to lower prices of feed stock (Acetic Acid), leading to lower sales prices of Acetic Anhydride and Ethyl Acetate. However, we continue to improve our volumes and market share of Acetic Anhydride globally.

    The company has firm plans to significantly reduce overall energy cost in phased manner through various initiatives by sourcing power from Grid and renewable sources, optimizing coal consumption through efficiency improvement in consumption as well as in generation.

    We continue to focus on our growth plans through new products and platforms and we are committed to deliver robust growth in the future.”

    Q3’FY23 Highlights

    A. Consolidated

    • Overall Revenue is 10% lower on YoY basis, mainly on account of lower sales performance of Nutrition & Health Solution Business, while volumes in Specialty Chemicals products and Acetic Anhydride continue to improve.
    • Speciality Chemicals revenue grew by 34% YoY, driven by higher price realization and volume growth across product segments.
    • In Nutrition and Health Solutions business Niacinamide (Vitamin B3) continued to witness lower demand owing to flu impact leading to lower realization, though we have improved our volumes sequentially.
    • Chemical Intermediates revenue is lower, mainly impacted on account of lower prices of key feed stock (Acetic Acid). Though we continue to increase our volume of Acetic Anhydride.
    • EBITDA is at Rs. 158 Crore. Though Specialty Chemical EBDITA improved, the overall impact is mainly due to significantly lower profitability in Nutrition business and non-availability of contracted coal leading to higher energy cost.
    • Lower EBITDA also resulted into lower profit after tax.
    • ROCE for the quarter stood at 16.3% on TTM basis, as against 27.8% in FY22.
    • ROE during the quarter stood at 12.7% on TTM basis, as against 21.9% in ’FY22.

    Segment Wise Analysis

    B. Speciality Chemicals

    • Speciality Chemicals revenue grew by 34% YoY, driven by higher price realization and volume growth across product segments.
    • Share of revenue to customers having Agro Chemical end use has shown significant growth.
    • Absolute EBITDA increased by 15% on YoY basis and about 13% QoQ basis.
    • Though EBITDA Margin is lower on YoY basis i.e. 18.7% vs 21.8% in Q3’FY22, However it has improved sequentially from 16% in Q2’FY23, because business was successful in further passing on the increased energy cost through better price realization.

    C. Nutrition & Health Solutions

    • Nutrition Business revenue de-grew YoY by 39% on account of lower demand, due to prolonged impact of bird and swine flu in EU and US regions, leading to lower realization.
    • Our Domestic business of Choline Chloride (Vitamin B4) as well as it’s Specialty premix business have grown in volume and value both on YoY as well as QoQ basis.
    • We continue to increase our presence of Niacinamide (Vitamin B3) in Food and Cosmetics end-use segment.
    • EBITDA de-grew by 83% on YoY basis. EBIDTA margin decreased to 6.6% vs 24.4% in Q3 FY’22.
    • EBITDA margin was lower by 17.8% on account of lower pricing driven by lower demand owing to continuing of bird and swine flu impact in EU and US regions on Niacinamide (Vitamin B3).

    D. Chemical Intermediates Segment

    • Chemical Intermediates revenue de-grew by 23% on YoY basis, mainly driven by lower price of feed stock (ie Acetic Acid) leading to lower realization of finished products i.e. Acetic Anhydride & Ethyl Acetate.
    • We have further improved our market share and volumes of Acetic Anhydride in EU region both on YoY and QoQ basis.
    • EBITDA during the quarter was lower due to normalization of domestic market condition as against same quarter Last Year.
    • EBIDTA Margin stood at 12.7% vs 13.9% in Q3 FY’22.

    9M’FY23 Highlights

    E. Consolidated

    • Overall Revenue remained flat on YoY basis. Our Specialty Chemical Business continue to deliver higher volumes and price realization, however short-term impact of lower demand of Niacinamide (Vitamin B3) and significant reduction in Acetic Acid price leading to lower sales prices in Chemical Intermediate business has overall impacted Revenue.
    • Speciality Chemicals revenue grew by 40% YoY, driven by volume growth in same range across product segments and higher prices.
    • Nutrition and Health Solutions business performance remained impacted mainly due to ongoing Bird & Swine Flu in EU & US region, coupled with demand impact in EU due to on-going geo-political situation.
    • Chemical Intermediates volumes grew, though the revenue is lower due to lower prices of key input raw material i.e. Acetic Acid.
    • EBITDA at Rs.469 Crore. EBITDA is impacted due to lower volume offtake of Vitamin B3, EBITDA normalization of Chemical Intermediate segment and partial impact of higher input costs of energy (mainly due to non-availability of contracted coal).
    • Lower EBITDA also resulted into lower profit after tax.
    • ROCE for the period stood at 16.3% on TTM basis, as against 27.8% in FY22.
    • ROE during the period stood at 12.7% on TTM basis, as against 21.9% in FY22.

    Segment Wise Analysis

    F. Speciality Chemicals

    • Specialty Chemicals revenue grew by 40% on YoY, driven by higher price realization and volume growth across product segments
    • Share of revenue to customers having Agro Chemical end use grew significantly.
    • We continue to increase our share in Pyridine & it’s derivatives globally and increase share of CDMO business within the Specialty segment.

    G. Nutrition & Health Solutions

    • Nutritional Business revenue de-grew by 30%, as the demand was adversely impacted due to prolonged impact of Bird & Swine Flu in EU & US region coupled with short-term demand impact in Europe due to ongoing geo-political situation.
    • Niacinamide volumes were down due to lower demand.
    • Our Domestic business of Choline Chloride (Vitamin B4), as well as it’s Specialty premix have shown significant growth in volume as well as in value.
    • EBITDA de-grew by 64% on YoY basis. EBIDTA margin decreased mainly on account of lower sales volumes and lower realization in vitamin B3 due to lower demand in the global markets.

    H. Chemical Intermediates Segment

    • Chemical Intermediates revenue de-grew by 11% on YoY basis, mainly driven by lower price of feed stock (ie Acetic Acid) leading to lower realization of finished products i.e. Acetic Anhydride & Ethyl Acetate.
    • Acetic Anhydride witnessed volume growth on YoY basis.
    • We have further improved our market share of Acetic Anhydride globally.
    • Acetic Anhydride Revenue from Europe & ROW have gone up significantly on YoY basis, while we continue to strengthen our leadership position in Domestic market.
    • EBITDA was lower due to normalization of market condition vs 9M FY’22.

    I. Business Outlook & Growth Capex Plans

    • Our Specialty Chemicals segment would continue to grow. Overall our FY’23, full year performance is expected to remain in line with our last three quarters.
    • We are fully committed towards our growth aspirations and we are excited to realise the emerging opportunities through our ongoing Growth Capex plan, which we have now improved from earlier Rs 2,050 Crore to now Rs 2,275 Crore during FY’22 to FY’25 Period.
    • We continue our efforts towards improving our revenue mix of Specialty and Nutrition segments to 65% by FY’27 from 44% in FY’22 and we believe this to be a key driver for overall EBIDTA and Margin improvements.

    J. Debt Position – As on 31st December, 2022

    • Short Term borrowing increase was led by increase in working capital.
    • Blended interest rate as on 31st December, 2022 was at 7.03%.

    K. Balance Sheet – Key Parameters/Ratios (TTM2)

    • Increase in Net Working Capital is driven by strategic decision of inventory building of certain products and temporary lower creditors due to procurement of Domestic Ethanol.

    L. Income Statement – Q3 & 9M’FY23

    1. All figures are in Rs Crore unless otherwise stated.

     

  • 20 October 2022

    Jubilant Ingrevia – Q2 & H1'FY23 Results*

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter ended September 30th, 2022.

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter ended September 30th, 2022.

    Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co- Chairman, Jubilant Ingrevia Limited said:

    “We are pleased to announce stable operational and financial performance during the quarter under review, despite continuing headwinds on account of higher energy costs during the current financial Year.

    Our Specialty Chemicals Business revenue grew by 63% YoY, on account of better demand across all products within the segment. Margins are impacted mainly on account of higher cost of energy due to restriction on contracted coal supplies. While we expect the coal supply to normalize soon we continue to explore alternate energy solutions for future.

    In Nutrition & Health Solution business flu situation in US and Europe is normalizing, however demand of Vitamin B3 continue to be suppressed owing to post flu impact and excess inventory across the value chain. Our focus on niche segments like Food & Cosmetics is showing positive results and we continue to increase our revenue share in this segment. We also believe that the demand challenges of Vitamin B3 are short term. We continue to improve market share in our Animal nutrition business of Vitamin B4 and other Branded Premix products.

    Our Chemical Intermediates Business continue to witness strong demand resulting in volume growth. Business continues to improve its leadership position in Acetic Anhydride in domestic and international market. Revenue impact on YoY basis was primarily driven by lower prices of feed stock leading to lower sales prices of Ethyl Acetate and Acetic Anhydride.

    We believe Jubilant Ingrevia Limited is well-positioned to deliver robust growth in the future backed by its comprehensive growth plan for its growth projects. The performance in the coming quarters will be driven by higher share from Specialty Chemicals where Company is scaling its capacity and capability, Nutrition and Health Solutions where the Company is enhancing its value-added range of products and in Chemical Intermediates segment where our core emphasis is on enhancing healthy volume contributions”.

    Q2’FY23 Highlights

    A. Consolidated

    • Overall Revenue grew by 7% on YoY basis, led by higher sales performance of Speciality Chemical Business.
    • Speciality Chemicals revenue grew by 63% YoY driven by volume growth across product segments
    • Nutrition and Health Solutions business continued to witness lower demand owing to post flu impact and excess inventory situation across the value chain, coupled with short term demand impact in Europe due to on-going geo-political situation.
    • Chemical Intermediates volume have grown while revenue is lower, mainly impacted on account of lower prices of key RM i.e. Acetic Acid.
    • EBITDA is at Rs. 160 Crore. Higher input cost due to non-availability of contracted Coal, coupled with lower volumes offtake of Vitamin B3 has impacted EBIDTA, though Specialty Chemical and Chemical Intermediate volumes have grown significantly.
    • Lower EBITDA also resulted into lower profit after tax.
    • ROCE for the quarter stood at 18.9% as against 27.8% in FY22 on TTM Basis
    • ROE during the quarter stood at 14.5% as against 21.9% in ’FY22 on TTM basis

    Segment Wise Analysis

    B. Speciality Chemicals

    • Specialty Chemicals revenue grew by 63% on YoY basis driven by higher volume across product segments
    • Share of revenue to customers having Agro Chemical end use increased during the quarter.
    • We also witnessed healthy demand for Oil field chemicals.
    • Segment EBITDA increased by 8% on the back of higher volumes, but Margin was lower mainly due to higher cost of energy due to restriction on contracted coal supplies.

    C. Nutrition & Health Solutions

    • Nutritional Business revenue de-grew by 36%, on account of lower demand owing to post flu impact and excess inventory situation across the value chain, coupled with short term demand impact in Europe due to on-going geo-political situation.
    • Animal nutrition business has improved market share of Vitamin B4 and other Branded Premix products.
    • Share of Food and Cosmetic in segment revenue grew YoY.
    • EBITDA de-grew by 61% on YoY basis. EBIDTA margin decreased mainly on account of lower sales volumes of vitamin B3.

    D. Chemical Intermediates Segment

    • Chemical Intermediates revenue de-grew by 5% on YoY basis mainly due to input price of Acetic Acid while Acetic Anhydride volume grew by 13% on YoY basis.
    • Business continue to strengthen its position with higher market share and significant revenue growth in Europe region.
    • EBITDA was lower due to stock impact on lower feed stock prices and Lower demand of Ethyl Acetate.

    H1’FY23 Highlights

    E. Consolidated

    • Overall Revenue grew by 4% on YoY basis, mainly due to higher sales performance by Speciality Chemical Business.
    • Speciality Chemicals revenue grew by 44% YoY driven by volume growth across product segments
    • Nutrition and Health Solutions business performance was impacted mainly due to impact of Bird & Swine Flu in EU & US region and overall excess inventory situation across the value chain, coupled with short term demand impact in Europe due to on-going geo-political situation.
    • Chemical Intermediates volume have grown while revenue is impacted mainly due to lower prices of key RM i.e. Acetic Acid.
    • EBITDA at Rs. 311 Crore. The EBITDA is impacted due to Chemical Intermediate segments EBITDA normalization, lower volumes offtake of Vitamin B3 and higher input costs impact in Speciality chemical business due to non-availability of contracted coal.
    • Lower EBITDA also resulted into lower profit after tax.
    • ROCE for the period stood at 18.9% as against 27.8% in FY22 on TTM Basis
    • ROE during the period stood at 14.5% as against 21.9% in ’FY22 on TTM basis

    Segment Wise Analysis

    F. Speciality Chemicals

    • Specialty Chemicals revenue grew by 44% on YoY basis driven by higher volume across product segments
    • Share of revenue to customers having Agro Chemical end use grew significantly.
    • We also witnessed healthy demand for Oil field chemicals.
    • In-spite of significantly improved volumes in the Segment, EBITDA and Margin are lower mainly due to higher cost of energy due to restriction on contracted coal supplies.

    G. Nutrition & Health Solutions

    • Nutritional Business revenue de-grew by 24%, as the demand was adversely impacted mainly due to impact of Bird & Swine Flu in EU & US region coupled with short-term demand impact in Europe due to on-going geo-political situation.
    • Niacinamide volumes were down by 48%.
    • EBITDA de-grew by 47% on YoY basis. EBIDTA margin decreased mainly on account of lower sales volumes of vitamin B3.

    H. Chemical Intermediates Segment

    • Chemical Intermediates revenue de-grew by 6% on YoY basis
    • Acetic Anhydride volume growth by 17% on YoY basis.
    • Revenue de-growth was driven by lower prices of feed stock ie Acetic Acid
    • Revenue from Europe & South East Asia regions have gone up significantly on YoY basis while we continue to strengthen our leadership position in Domestic market.
    • EBITDA was lower due to normalization of market condition vs H1 FY’22.

    I. Business Outlook & Growth Capex Plans

    • We expect our H2 performance to be better than H1, assuming no unexpected adverse situation.
    • We expect overall healthy revenue growth during FY’23, led by volume growth in Specialty Chemicals & Chemical intermediate business segment. Commissioning of our new capex during H2 is likely to aid the growth.
    • We are fully committed towards our growth aspirations and we are excited to realise the emerging opportunities through our ongoing Growth Capex plan of Rs. 2,050 Crore during FY’22 to FY’25 Period.
    • We continue our efforts towards improving our revenue mix of Specialty and Nutrition segments to 65% by FY’27 from 46% in FY’22 and we believe this to be a key driver for overall margin improvements.

    J. Debt Position – As on 30Th June, 2022

    • We have completely paid off our high cost long term borrowing resulting into lower blended interest rate of 5.84% in Q2'FY23.
    • India Ratings has upgraded its Credit Rating on the long-term Debt of Jubilant Ingrevia Ltd to AA+ ‘stable’ from earlier AA ‘Stable’ in Sept 22

    K. Balance Sheet – Key Parameters/Ratios (TTM2)

    • Increase in Net Working Capital is driven by short term strategic decision of inventory building of certain products and temporary lower creditors due to procurement of Domestic Ethanol.

    L. Income Statement – Q2 & H1’FY23

    1. All figures are in Rs Crore unless otherwise stated

  • 15 September 2022

    Aniket Doegar of Haqdarshak Empowerment Solutions, bags the prestigious 13th Social Entrepreneur of the Year (SEOY) Award - India 2022

    Presented by Shri. Anurag Singh Thakur, Hon. Union Minister for Information & Broadcasting and Minister for Youth Affairs & Sports, Government of India

    Presented by Shri. Anurag Singh Thakur, Hon. Union Minister for Information & Broadcasting and Minister for Youth Affairs & Sports, Government of India

    Noida, September 15, 2022: The Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum and the Jubilant Bhartia Foundation of Jubilant Bhartia group today conferred Aniket Doegar of Haqdarshak Empowerment Solutions with the prestigious 'Social Entrepreneur of the Year Award - India 2022'. The award was presented by Shri. Anurag Singh Thakur, Union Minister for Information & Broadcasting and Minister of Youth Affairs & Sports Government of India, at a grand ceremony in the presence of eminent personalities.

    Congratulating the winner and finalists and lauding the work of social entrepreneurs, Shri. Anurag Singh Thakur, Union Minister for Information & Broadcasting and Minister for Youth Affairs & Sports Government of India, said, “In a world driven by uncertainties, geo-political upheavals, the role of social entrepreneurs is increasingly becoming critical to nation building. It is imperative to know investments in environment, sustainability and governance will play a crucial role in not only meeting our shared goal of 5 trillion dollar economy, but also sustainable development goals by 2030 and achieving net zero emissions by 2070.” He further added, “Social Entrepreneurs put their innovative ideas to action, build a team, align beneficiaries and stake-holders, raise necessary funds and drive the organisations with their passion and energy towards solving critical issues, be it reduction of poverty, education of children, empowerment of women, climate change mitigation, healthcare etc.”

    The SEOY India Award 2022 winner, Aniket Doegar of Haqdarshak Empowerment Solutions is solving the information and access gap between citizens and the government’s welfare schemes at the last mile, through its tech-enabled intervention. Present in 24 states in India it has trained over 22,800 agents and provided benefits worth Rs 4,000 crore for over 20 lakh families and 35,000 micro businesses.

    Ms. Hilde Schwab, Co-Founder and Chairperson, Schwab Foundation for Social Entrepreneurship, and Professor Klaus Schwab, Founder & Executive Chairman of World Economic Forum and Co-Founder of the Schwab Foundation for Social Entrepreneurship applauded the work of the social entrepreneurs and congratulated the winner & finalists. They shared, “Over these last challenging years, we have seen such depth of civic action, entrepreneurialism and innovation in India. Social entrepreneurs are the driving force behind innovations that improve the quality of life of individuals not only in India but around the world. Their role in creating a just, inclusive and sustainable COVID-19 response and recovery is pertinent. The Schwab Foundation for Social Entrepreneurship has been proud to partner with Jubilant Bhartia Foundation in recognising the exceptional work of Indian social entrepreneurs in alleviating environmental and social problems over the past 13 years. This year’s winner and finalists of the Social Entrepreneur of the Year India Award represent the ethos of social innovation and entrepreneurship.”

    Congratulating the winner and the finalists, Mr. Shyam S Bhartia, Chairman and Founder and Mr. Hari S Bhartia, Chairman & Co-Founder, Jubilant Bhartia Group and Founder Directors of Jubilant Bhartia Foundation, shared, "The last two and a half years of the COVID-19 pandemic have showcased social entrepreneurs across the world as a different breed of individuals, going beyond the realm of possibility and serving humanity with all their might. Their creativity, resilience, commitment, potential and reach have been simply outstanding. Today we are proud to celebrate and felicitate all our finalists as extraordinary individuals with remarkable achievements and contributions towards society. We are proud of our 13 years of unique and rewarding partnership with the Schwab Foundation for Social Entrepreneurship. Through our partnership, we have been able to give the social entrepreneurs in India a global platform to showcase their work, scale-up their initiatives and cross-learn from an enriching alliance of similar high-spirited individuals from across the world."

    Aniket Doegar, Haqdarshak Empowerment Solutions on winning the SEOY Award India 2022, shared, “I want to thank all our Haqdarshaks on-ground. This award will go a long way in supporting us as a young tech company. A big thanks to the Jubilant Bhartia Foundation and the Schwab Foundation for Social Entrepreneurship. With this recognition we hope to achieve our goal of reaching 100 million citizens.”

    The winner of SEOY Award India, Aniket Doegar will join the world’s largest and the first inter-sectoral community of social innovators in the world affiliated with the Schwab Foundation for Social Entrepreneurship.

    The other finalists for SEOY Award India 2022 were Osama Manzar from Digital Empowerment Foundation (DEF), Ajaita Shah from Frontier Markets, Wilma Rodrigues from Saahas Zero Waste and Meera Shenoy from Youth4jobs. The winner and finalists of SEOY Award India will also get an opportunity to apply for the Hindustan Times Fellowship for the Stanford Seed Transformation program.

    This year the SEOY Award – India celebrates its 13th year. Over the last decade it has established itself as one of the most respectable awards for social entrepreneurs in India. In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India and has since recognised and supported the growing field of social innovation in India.

    This year's jury members for the SEOY Award India included Shobhana Bhartia, Chairperson & Editorial Director, HT Media Ltd; Hilde Schwab, Chairperson & Co-Founder, Schwab Foundation for Social Entrepreneurship; T V Narendran, CEO & Managing Director, Tata Steel Limited;  Sudha Pillai, Former Member Secretary, Planning Commission, Government of India; Aashti Bhartia, Non-Executive Director, Jubilant FoodWorks Limited; P R Ganapathy, Regional Director, Stanford Seed, India; Pranshu Singhal, Founder - Karo Sambhav, Winner SEOY 2021.

    About the winner:

    Haqdarshak Empowerment Solutions was formed with the objective to address the information and access gap related to the various government schemes at the last mile. The heart of all Haqdarshak’s innovative methods lies in their app-based technology platform. Haqdarshak digitizes information on schemes in 11 simple vernacular regional languages makes it available to intended beneficiaries through it’s various B2C channels and an agent-led model. All its products and services are available in 24 states of India. Over the last six years they have unlocked benefits worth Rs 1788 crore for over 16 lakh families.

    To achieve their objective, Haqdarshak uses a two-pronged approach- i.e. by creating awareness about the applicable schemes for citizens and by training rural entrepreneurs in using their app and providing application support for the citizens. The entrepreneurs trained by Haqdarshak are local agents, who screen the family/citizen to determine the eligible welfare schemes applicable to them. They also have a proprietary ‘scheme eligibility engine’ that can identify entitled schemes based on the profile information provided by the beneficiaries. Haqdarshaks or the field agents track the applications and follow up with the government offices till the benefits are received by the citizens. Haqdarshaks earn a stipend during an initial program funded by philanthropic or corporate sponsors and are gradually able to earn a sustainable livelihood by using the app and charging a small fee to citizens. Haqdarshak has also built a similar platform to support the 63.5 million micro businesses in India, who form the backbone of the MSME sector. It has developed a curated list of schemes and documentation requirements for MSMEs along with a dedicated web & mobile platform too. Entrepreneurs can access the schemes’ information including benefits, application process and documentation required to apply, and check their eligibility. It has reached more than 20,000 micro-businesses in the last 12 months.

    Note to the Editors:

    The Schwab Foundation for Social Entrepreneurship was co-founded by Professor Klaus Schwab, Founder and Executive Chairman, World Economic Forum, and Hilde Schwab, Co-Founder and Chairperson, Schwab Foundation for Social Entrepreneurship. For over twenty years, the Schwab Foundation has supported the world’s leading social innovators to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global, to highlight and advance leading models of sustainable social innovation.
    Learn more at www.schwabfound.org

    Follow on:
    Twitter: https://twitter.com/schwabfound;
    Facebook: https://www.facebook.com/schwabfound/
    LinkedIn: https://www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship

     Jubilant Bhartia Foundation (JBF), established in 2007, is the not-for-profit organisation of the Jubilant Bhartia Group. It focuses on conceptualising and implementing the Corporate Social Responsibility initiatives (CSR) for the Group. The Jubilant Bhartia Foundation’s activities include various community development work, healthcare programs, cultural and sports events, environmental preservation initiatives, vocational training, women empowerment, educational activities, and promotion of Social Entrepreneurship.
    Learn more at www.jubilantbhartiafoundation.com

    Follow on:
    Twitter: https://twitter.com/indiaseoy
    Facebook: https://www.facebook.com/IndiaSEOY
    LinkedIn: https://in.linkedin.com/company/jubilantbhartiafoundation

    For media queries, please contact:
    Vivek Prakash
    Jubilant Bhartia Foundation;
    Ph: +91 120 436 1804/ 1811;
    E-mail: vivek.prakash@jubl.com

  • 25 August 2022

    Champions of a Better Tomorrow – Five pioneer social innovators are finalists of the prestigious Social Entrepreneur of the Year Award India 2022

    The Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation announced the finalists of the 13th Social Entrepreneur of the Year Award 2022 today.

    The Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation announced the finalists of the 13th Social Entrepreneur of the Year Award 2022 today.

    The following highly accomplished individuals with their transformational social ventures have been selected as the finalists:

    1. Osama Manzar
    Digital Empowerment Foundation, www.defindia.org

    2. Ajaita Shah
    Frontier Markets, www.frontiermkts.com

    3. Aniket Doegar
    Haqdarshak, www.haqdarshak.com

    4. Wilma Rodrigues
    Saahas Zero Waste & NGO Saahas, www.saahaszerowaste.com, www.saahas.org

    5. Meera Shenoy
    Youth4Jobs, www.youth4jobs.org

    The winner of the ‘13th Social Entrepreneur of the Year’ (SEOY) Award - India 2022 will be announced in an event on Thursday, 15 September 2022. The award ceremony will be attended by dignitaries from various fields, across the globe to celebrate and appreciate the extraordinary contribution of these passionate individuals.

    The SEOY award aims to honour and recognise accomplished social change leaders across a diversity of large-scale, system change and social innovation models in society. These change leaders are key enablers of an inclusive, sustainable and equitable world.

    The winner of the SEOY Award - India will join the world’s largest and the first inter-sectoral community of social innovators in the world affiliated with the Schwab Foundation for Social Entrepreneurship. The Winner and Finalists of SEOY India will also get an opportunity to apply for the Hindustan Times Fellowship for the Stanford Seed Transformation programme. 

    This year’s finalists of the SEOY Award India, are inspiring, visionary individuals who met various stringent criteria of evaluation for their selection. The chosen finalists are technology-enabled experts working for the underserved in fields of digital literacy and empowerment (financial inclusion), financial technology, agricultural technology, e-commerce, rural

    technology, social protection, livelihood, waste management, education and skilling and advocacy for people with disability.

    Using creativity and innovation in their respective initiatives, these social entrepreneurs are delivering impact through the use of technology, market-linked skilling, large-scale advocacy, innovative expansion of the market, data analysis etc.

    The SEOY award – India 2022 opened for applications in February 2022 and received over 100 submissions, out of which over 60% are women. The diverse categories of the interventions included healthcare services, clean technology, media communication, disability, energy, enterprise development, labour conditions, microfinance, nutrition, sustainable farming, and water and sanitation.

    Over the last decade the SEOY Award – India, has established itself as one of the most reputable awards for social entrepreneurs. This year the award celebrates its 13th year. In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India and has since recognised and supported the growing field of social innovation in India.

    Meet the Finalists:

    Osama Manzar
    DIGITAL EMPOWERMENT FOUNDATION; www.defindia.org
    Year Established: 2002
    Sector: Digital (Access & Infrastructure, Education & Empowerment, Governance & Citizen services, Markets & Social enterprises, Research and Advocacy, Knowledge Hub & Networking)

    Digital Empowerment Foundation (DEF) is a non-profit organisation working towards empowering citizens through digital literacy and digital tools to gain access to better healthcare, education, skills and livelihood opportunities. DEF focusses on making technology easily accessible to the masses, so as to empower women, youth, persons with disabilities, artisans and the elderly through providing functional digital literacy, media literacy and digital up-skilling across agriculture, micro and nano-businesses, health, education, livelihood and entrepreneurship. Over the last 20 years, DEF has directly impacted over 30 million people, through its 1,500 strong Community Information Resource Centers. These centers are supported by a widespread network of 10,000 digital foot soldiers located across 24 states and 135 districts in rural, tribal, marginalised and unreached areas.

    Ajaita Shah,
    FRONTIER MARKETS; www.frontiermkts.com
    Year Established: 2011
    Sector: FinTech/AgriTech/E-commerce/Rural-Tech

    Frontier Markets through its unique rural distribution platform, is driving access to the products and services that the rural population wants to be delivered at their doorstep.

    These products and services are high quality, climate friendly, gender-inclusive and also include clean energy-services. It is doing so by investing in rural women, making them entrepreneurs and building a strong network, which acts as a bridge to rural communities. The delivery is enabled via its e-commerce platform specially designed to cater to the rural population that remains unreached by mainstream e-commerce platforms and hence inevitably being denied an opportunity to change, evolve and grow. Frontier Markets has enabled over 20,000 women rural entrepreneurs to help over 500,000 families in over 3000 villages adopt over 10 million solutions. 

    Aniket Doegar,
    HAQDARSHAK;
    www.haqdarshak.com
    Year Established: 2016
    Sector: Social protection, financial inclusion, livelihood

    Haqdarshak is solving the information and access gap between citizens and the government’s welfare schemes at the last mile, through its tech-enabled intervention.

    It digitises information on government schemes in a simple form in 11 vernacular languages and makes it available to intended beneficiaries including MSMEs through various B2C channels and an agent-led model. It also has an easy eligibility-discovery engine that identifies eligible schemes based on the profile information provided. Haqdarshak also enables an extensive agent network to deliver last-mile support in accessing these schemes and trains these select field agents for on-field implementation. Present in 24 states in India it has trained over 22,800 agents so far and provided benefits worth Rs 4,000 crore for over 20 lakh families and 35,000 micro businesses.

    Wilma Rodrigues,
    SAAHAS ZERO WASTE & SAAHAS NGO,
    www.saahaszerowaste.com, www.saahas.org
    Year Established: 2013 & 2001
    Sector: Waste management

    Saahas Zero Waste (SZW) is a socio-environmental enterprise that provides decentralised end-to-end waste management services.

    With the belief that waste is a resource and through its holistic solutions, SZW strives to ensure that more than 95% of waste is converted to resources, thus addressing the issue of open dumping, burning, landfilling and contamination of air, water and soil. SZW was also one of the first movers in India in formalising the waste management industry. It branched out of Saahas NGO in 2013 and currently both organisations are independent entities working towards holistic solid waste management. Together, they have over 20 years of experience, work with over 100 clients across 22 states and 2 union territories, managing an average of 100 tonnes of waste per day.

    Meera Shenoy,
    YOUTH4JOBS,
    www.youth4jobs.org
    Year Established: 2012
    Sector: Livelihoods & Education for persons with disabilities

    Youth4Jobs Foundation (Y4J) works for grass-root transformation of lives of persons with disability by skilling and linking them to sustainable livelihoods.  Youth have locomotor, speech, hearing and visual impairment.

    Some have cerebral palsy, autism spectrum, downs syndrome, and multiple disabilities. Y4J  works with 1100 companies to ensure the hired youth is productive and it benefits business. Today, it is  a ‘System-Changer’ with a pan-India presence, scale and high impact, changing attitudes and lives. Youth4Jobs has trained over  31,647  youth with disabilities with job linkages.  22% trainees are from  SC , ST category and 30% are women. Y4J has reached 9.3 million households in 28 states, 8 Union Territories, 12,026 villages, 579 districts and 3,452 mandals.  It is setting up ‘SwarajAbility’, an AI-triggered accessible job platform for youth with disabilities.

    About Us

    The Schwab Foundation for Social Entrepreneurship was co-founded by Professor Klaus Schwab, Founder and Executive Chairman, World Economic Forum, and Hilde Schwab, Co-Founder and Chairperson, Schwab Foundation for Social Entrepreneurship. For over twenty years, the Schwab Foundation has supported the world’s leading social innovators to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global , to highlight and advance leading models of sustainable social innovation. Learn about us at www.schwabfound.org Follow the Schwab Foundation on:

    Twitter: @SchwabFound
    Facebook: https://www.facebook.com/schwabfound/
    Instagram: https://www.instagram.com/schwabfoundation/
    LinkedIn: https://www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship/

    Jubilant Bhartia Foundation (JBF), established in 2007, is the not-for-profit organisation of the Jubilant Bhartia Group. It focuses on conceptualising and implementing the Corporate Social Responsibility initiatives (CSR) for the Group. The Jubilant Bhartia Foundation’s activities include various community development work, healthcare programs, cultural and sports events, environmental preservation initiatives, vocational training, women empowerment, educational activities, and promotion of Social Entrepreneurship. www.jubilantbhartiafoundation.com

    Follow Jubilant Bhartia Foundation on:
    Twitter: @indiaseoy
    Facebook: https://www.facebook.com/IndiaSEOY/

    For media queries, please contact:
    Vivek Prakash
    Jubilant Bhartia Foundation;
    Ph: +91 120 436 1804/ 1811; 9810674758
    E-mail: vivek.prakash@jubl.com

     

  • 05 August 2022

    Jubilant Ingrevia – Q1’FY23 Results*

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter ended June 30th, 2022.

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter ended June 30th, 2022.

    Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman, Jubilant Ingrevia Limited said:

    “We are glad to announce steady operational and financial performance in Q1’FY23, in the backdrop of inflationary headwinds leading to higher raw material and energy costs during the quarter.

    In our Specialty Chemicals Business revenue grew 26% YoY, on account of strong demand across all our product segments. We witnessed significant increase in input costs Including energy costs, which was passed on partially during the quarter, impacting segment’s EBITDA margin.

    In our Nutrition & Health Solution Business, Niacinamide sales volume were significantly impacted due to spread of Avian and Swine Flu in EU and US regions leading to lower segment revenue and EBIDTA, however the price realization was better during the quarter. This is a short-term challenge in the segment, and business continues to maintain its market share and leadership position. 

    Our Chemical Intermediates Business, continue to witness strong demand resulting into volume growth. Business is maintaining the leadership position of Acetic Anhydride in Domestic market and also Improving our market share in Europe. On YoY basis segment has witnessed normalization of market situation and lower Acetic Acid prices, which is also reflecting into both Revenue and EBITDA.

    We are fully committed towards our growth aspirations and we are excited to realise the emerging opportunities going forward in all our business segments. We are fully confident of moving ahead with our well defined growth capex plan, which is supported by our internal accruals. Our aim is to achieve sustainable profitable growth in medium term and structurally we are poised towards moving on to the next tier of performance in our growth journey and margins”.

    Q1’FY23 Highlights

    A. Consolidated

    • Overall Revenue grew by 2% on YoY basis, mainly due to higher sales performance by Speciality Chemical Business.
    • Speciality Chemicals revenue grew by 26% YoY driven by volume growth across product segments
    • Nutrition and Health Solutions business performance was impacted mainly due to spreading of Bird & Swine Flu in EU & US region resulting into lower demand. This is a short-term challenge in the segment, and business continues to maintain its market share and leadership position.
    • Chemical Intermediates volume have grown while revenue is impacted mainly due to lower prices of key RM i.e. Acetic Acid.
    • EBITDA at Rs 151 Crore is lower by 47%, mainly due to Chemical Intermediate EBITDA normalization. Nutrition Margins were impacted due to lower sale, while Speciality Margins were impacted due to higher input costs which were passed on partially.
    • PAT declined by 53% YoY driven by lower EBITDA, as explained above.
    • ROCE for the quarter stood at 20.8% as against 27.8% in FY22 on TTM Basis
    • ROE during the quarter stood at 15.7% as against 21.9% in ’FY22 on TTM basis

    Segment Wise Analysis

    B. Speciality Chemicals

    • Specialty Chemicals revenue grew by 26% on YoY basis driven by higher volume across product segments
    • Specialty Volumes grew by 24% YOY basis
    • Share of revenue to customers having Agro Chemical end use grew significantly.
    • We also witnessed healthy demand for Oil field chemicals.
    • Segment EBITDA & Margin was lower mainly due to unprecedented and sharp increase in input costs including energy cost, which was passed on partially during the quarter.

    C. Nutrition & Health Solutions

    • Nutritional Business sales was impacted mainly due to spread of Bird Flu and Swine Flu in Europe US region, coupled with lower consumption in China due to Covid related lock down situation.
    • Niacinamide volumes were down by 39% YOY basis.
    • EBITDA de-grew by 29% on YoY basis and EBIDTA margin decreased to 12.5 % vs 15.9% in Q1’FY22 mainly due to lower volume, while price realization has been better.

    D. Chemical Intermediates Segment

    • Chemical Intermediates business continue to witness strong demand resulting into robust volume growth.
    • Acetic Anhydride volumes grew by 22% on YOY basis.
    • Segment revenue de-grew by 6% on YoY basis mainly due to lower input price i.e Acetic Acid price which is now stabilizing.
    • Revenue from Europe & Japan have gone up significantly on YoY basis.
    • On YoY basis segment has witnessed normalized market situation as well as lower Acetic Acid prices, which is also reflecting into both Revenue as well as EBITDA

    E. Business Outlook & Growth Capex Plans

    • We expect overall healthy revenue growth during FY’23, led by volume growth in Specialty Chemicals & Chemical intermediate business segment. Commissioning of our three new capex of CDMO GMP, CDMO non-GMP and Acetic Anhydride is likely to aid the revenue growth.
    • In the Nutrition & Health Solution segment Niacinamide demand is expected to start normalizing in the later part of the current quarter
    • We expect our EBIDTA of subsequent quarters of FY’23 to improve, assuming no unexpected adverse situation
    • We are fully committed towards our growth aspirations and we are excited to realise the emerging opportunities though our ongoing Growth Capex plan of Rs 2,050 Crore during FY’22 to FY’25 Period.
    • We are strategizing towards improving our revenue mix of Specialty and Nutrition segments to 65% by FY’26 from 46% in FY’22 and we believe this to be a key driver for overall margin improvements.

    F. Debt Position – As on 30Th June, 2022

    • We have successfully reduced our high cost long term borrowing resulting into lower blended interest rate of 5.72% in Q1'FY23, as against 7.09 % in Q1’FY22.
    • CRISIL Ratings has revised its outlook on the long-term Debt of Jubilant Ingrevia Ltd to now ‘Positive’ from earlier ‘Stable’, while reaffirming the rating at ‘CRISIL AA’ in May’22.

    G. Balance Sheet – Key Parameters/Ratios (TTM2)

    • Increase in Net Working Capital is driven by short term decisions to maintain higher inventory to manage uncertainty of market & supply chain.

    H. Income Statement – Q1’FY23

    1. All figures are in Rs Crore unless otherwise stated

  • 17 May 2022

    Jubilant Ingrevia – Q4 & FY22 Results*

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter & Financial Year ended March 31st, 2022.

    *Financial numbers for comparative periods are presented on Pro-forma basis to reflect continuing operations pre and post demerger as explained in Note 2 in the disclaimer.

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter & Financial Year ended March 31st, 2022. The Board also declared a final dividend of Rs 2.5 per equity share of Rs 1 each on the paid up capital of the company. Including Interim Dividend declared earlier during the Financial Year, the total dividend for FY’22 works out to be 500% i.e Rs 5.0 Per equity share of Rs 1 each.

    Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman, Jubilant Ingrevia Limited said:

    “We are pleased to announce that we delivered record financial performance during FY’2022 despite facing severe second wave of pandemic at beginning of the year and then headwinds and volatility in key input raw material and energy prices since last three quarters. We also maintained steady growth in Q4’FY22.

    In our Specialty Chemicals segment we delivered strong growth led by healthy demand across industry segment. We are also pleased to share that we successfully commissioned Phase-1 of Diketene and Derivatives manufacturing unit at our Gajraula facility.

    In Nutrition & Health Solution we improved our profitability due to higher price realization and improved volume in North America.

    In Chemical Intermediates Segment, we continued the higher sales with Pharmaceutical and Agrochemical customers and recorded healthy growth in the EU. Though profitability of the Acetyls business during Q4 was impacted due to sharp and consistent correction in Acetic Acid prices impacting our inventory, the overall impact of Acetic Acid price on profitability for full year FY’22 was not significant.

    Our business team continue to work closely with customers to ensure that the increase in input cost is passed on quickly and our supply chain team ensures the uninterrupted supplies and timely deliveries.

    Due to advancement in our new product pipelines & CDMO projects, we are pleased to revise our investment plan for growth projects to Rs. 2050 Crore, out of this we have already committed investment in projects worth Rs. 800 Crore till date and now we plan to invest about Rs. 1,250 Crore. to be committed between FY’23 & FY’24. These investments will be funded through internal accruals and all these new facilities should be ready for operations by FY’25.

    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 FY’22. 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 FY’22 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.

    We remain fully committed towards the growth aspirations envisioned for the company, and are excited to realise the emerging opportunities going forward in our business segments”.

    Q4’FY22 Highlights

    A. Consolidated

    • Revenue grew by 20% on YoY basis, driven by growth in Speciality Chemicals and Chemical intermediate product segments.
    • Speciality Chemicals revenue grew by 35% YoY driven by volume growth across products
    • Nutrition and Health Solutions business improved the prices in challenging market conditions during the quarter.
    • Chemical Intermediates revenue grew by 18% YoY, driven by higher prices of products
    • EBITDA at Rs 152 Crore is lower, mainly due to impact of Acetic acid prices on our inventory, while sharp increase in key input prices for Speciality Chemicals and Nutrition & Health Solutions segment were passed on partially till end of quarter. However overall impact of Acetic Acid price on profitability for full year FY’22 was not significant.
    • PAT declined by 28% YoY driven by decline in EBITDA, as explained above.
    • ROCE for FY22 improved to 27.8% as against 20.2% in FY21.
    • ROE during FY22 stood at 21.9% as against 16.4% in FY21.

    Segment Wise Analysis

    B. Speciality Chemicals

    • Specialty Chemicals revenue grew by 35% on YoY basis driven by higher volume across product segments
    • Share of revenue to customers having Agro Chemical end use grew to 37% of Revenue from 28% earlier registering a growth of 81% YoY
    • Revenue from Nutrition end use also improved during the quarter
    • EBITDA increased by 17% on YoY basis, and EBITDA Margin decreased to 18.2% vs 21.1% in Q4’FY21, mainly driven by higher input costs which we are in the process of passing on.

    C. Nutrition & Health Solutions

    • Growth of Nutritional Business was driven by higher prices.
    • Revenue share from North America increased to 19% as against 14% last year
    • Food and cosmetics volumes grew significantly
    • EBITDA grew by 18% on YoY basis. EBIDTA margin improved to 24.4% vs 21.4% in Q4’FY21.
    • EBITDA margin was higher by 308 basis points on account of improved realisation.

    D. Chemical Intermediates Segment

    • Chemical Intermediates revenue grew by 18% on YoY basis
    • Chemical Intermediates revenue growth was driven by higher prices of Ethyl Acetate and Acetic Anhydride. Driven by higher price of feed stock
    • Revenue from Europe, Japan have gone up significantly on YoY basis
    • EBITDA was lower due to impact of Acetic Acid prices on our inventory, however overall impact of Acetic Acid price on profitability for full year FY’22 was not significant.
    • EBIDTA Margin stood at 4.6%.

    FY22 Highlights

    E. Consolidated

    • Revenue grew by 42% on YoY basis, driven by growth across Business segments.
    • Speciality Chemicals revenue grew by 24% YoY driven by volume and price growth across products.
      • Speciality Chemical Volume grew by 16% on YoY basis.
    • Nutrition and Health Solutions revenue grew by 22% YoY driven by higher volumes and as well as higher prices.
      • Niacinamide volume grew by 9% on YoY basis.
    • Chemical Intermediates revenue grew by 61% YoY, overall driven by higher prices and favorable market conditions, during the majority part of the financial year.
      • Acetic Anhydride Volume grew by 3% on YoY basis.
    • EBITDA at Rs 863 Crore, grew by 38% on account of strong performance of all the three product segments.
    • PAT grew by 51% YoY driven by growth in EBITDA, aided by reduction in finance cost on account of reduction in Debt and optimization of Interest rates.
    • ROCE in FY22 improved to 27.8 % against 20.2% in FY21
    • ROE in FY22 stood at 21.9% as against 16.4% in FY21.

    Segment Wise Analysis

    F. Speciality Chemicals

    • Specialty Chemicals revenue grew by 24% on YoY basis driven by higher volume across products and new launches.
    • Domestic revenue grew significantly, by 35% percentage share to total revenue increased to 32% from 27% during previous year
    • Revenue in North American region increased by 36% on YoY.
    • Revenue from customers having Nutrition, consumer and Industrial end-use grew significantly on YoY basis.
    • EBITDA grew by 16% YoY.
    • EBITDA Margin were at 22.4% vs 23.9% in FY21, impacted due to higher raw material prices and increase in other input costs.

    G. Nutrition & Health Solutions

    • Nutrition and Health Solutions revenue grew by 22% on YoY basis.
    • Growth of Vitamin Business was driven by higher volumes and improved prices.
    • Animal Nutrition and Health solution business also improved volumes and realization YOY.
    • Revenue in North America and EU grew significantly by 78% and 65% respectively.
    • Food and cosmetics revenue has gone up significantly with 48% and 56% respectively.
    • EBITDA grew by 26% on YoY basis. EBIDTA Margin stood at 21.4%, EBITDA improved on account of better realization and higher volumes.

    H. Chemical Intermediates Segment

    • Chemical Intermediates revenue grew by 61% on YoY basis
    • Chemical Intermediates revenue growth was driven by higher prices and volume growth in Acetic Anhydride.
    • Prices improvement was mainly on account of favorable market condition.
    • Revenue from sales in EU region have gone up significantly by 130% on YoY basis.
    • Share of sales from EU increased to 15% from 11% in FY21
    • EBITDA grew by 77%. Margin stood at 14.9%. Growth in EBITDA margin was driven by
    • Improved product contribution driven by favorable market conditions of Acetic Anhydride.
    • Improved pricing of Ethyl Acetate also contributed to margin expansion.

    I. Business Outlook & Growth Capex Plans

    • All the ongoing growth related capital investment projects are more or less on track. Out of announced growth investment plan, capex worth Rs. 800 crore has been committed so far. All plants with-in this committed investment will be completed and commissioned by FY24, and has a potential of incremental peak revenue of Rs. 1,750 Crore at current prices.
    • The growth plans have been reviewed and additional growth capital investments amounting to Rs 1250 crore are to be committed during FY23 & FY24 to expand our newly added chemistry platforms like Diketene and Agro Actives and further strengthen the leadership in chosen areas of product portfolios including CDMO projects. In addition, we also plan to enter into Fluorinated derivatives, Fungicides (Agro Actives) and Grain based Specialty Ethanol as new business platforms. Planned completion and commissioning of all these new plants is expected by FY25, and these plants have a potential to bring incremental peak revenue of Rs 2,750 Crore at current prices.
    • Estimated Cash Outflow for FY’23 will be around Rs.550 Cr and for FY’24 & FY’25 will be Rs.650 Cr. & Rs.600 Cr. respectively. These capex cash out flow are intended to be funded through internal accruals along with reduction in debt.
    • Post completion of this overall growth related capital investments of total Rs. 2,050 Crore, at their optimum utilization the company is aspiring to achieve overall annual revenue of Rs 9,500+ Crore, this will also improve Revenue mix of Specialty and Nutrition segments and others to 65% from 46% in FY22, which is going to be the key driver for overall margin improvements of Jubilant Ingrevia Ltd.

    J. Debt Position – As on 31st March, 2022

    • Gross Debt reduction by Rs 319 Crore and Net Debt reduction by Rs 251 Crore from 31st March 2021.
    • Net Debt to EBITDA as on 31st March, 2022 stands at 0.21 times, from the earlier level of 0.69 times as on 31st March, 2021.
    • Closing blended interest rate in Q4'FY22 was 5.73%, as against 7.01 % in Q4’FY21
    • CRISIL Ratings has revised its outlook on the long-term Debt of Jubilant Ingrevia Ltd to now ‘Positive’ from earlier ‘Stable’, while reaffirming the rating at ‘CRISIL AA’ in May’22.

    K. Balance Sheet – Key Parameters/Ratios (Pro-Forma2)

    • Balance Sheet Ratios strengthened on improved performance:
    • RoCE improved significantly to 27.8% in FY22
    • RoE improved at 21.9% in FY22
    • Asset to Turnover increased to 2.8x in FY22
    • Increase in Net Working Capital is primarily driven by higher revenue and higher raw material prices.

    L. Income Statement – Q4 & FY22

    • All figures are in Rs Crore unless otherwise stated
    • Q4 & FY21 is derived on Pro-forma basis by combining reported discontinued operation results of LSI segment of Jubilant Pharmova Limited and audited results of company as explained in Note 2
    • EPS has been computed on combined profits assuming existence of share capital for full year.
  • 28 April 2022

    Jubilant Ingrevia Limited Commissions New Green Ethanol Based Acetic Acid Plant

    Offering first of its kind product, manufactured from Green Ethanol To be supplied worldwide with existing global supply chain infrastructure

    Offering first of its kind product, manufactured from Green Ethanol to be supplied worldwide with existing global supply chain infrastructure

    Noida, Uttar Pradesh, April 28, 2022: Jubilant Ingrevia Limited announces the commissioning of its new Green Ethanol based food-grade Acetic Acid plant at its manufacturing facility in Gajraula, Uttar Pradesh. The plant is designed to meet the highest standards of product certifications like FSSAI, ISO 22000, Kosher, Halal, FCC Codex, etc. It will cater to the increasing demand in food preservative segment across the globe.

    The food-grade Acetic Acid plant commissioned on 28th April, 2022, has a rated capacity of 25,000 Tons Per Annum. The product will be manufactured from Green Ethanol which is produced from natural bio-based feedstock. This food-grade Acetic Acid is in high demand globally. It will provide a healthier option for food preservation requirements, as compared to the Acetic Acid produced through petroleum route.

    On this occasion, Mr. Rajesh Srivastava, Chief Executive Officer and Managing Director, Jubilant Ingrevia Limited shared, “With the commissioning of this food-grade Acetic Acid plant, produced from renewable feed stock based Green Ethanol, we are pleased to share that we continue on our path of successfully executing our planned growth CAPEX. As per our growth plans we continue to make investments in niche products which are used for specialised usage globally. We are confident of achieving the superior growth path charted for the Company.”

  • 15 April 2022

    Jubilant Ingrevia Limited augments its CDMO presence with approximately INR 270 Crore contract

    Jubilant Ingrevia Limited augments its CDMO presence with ~INR 270 Crore contract

    Noida, India, April 18, 2022: Jubilant Ingrevia Limited (Company), a global integrated Life Science products and Innovative Solutions provider with over 42 years of experience offering over 165 products & innovative solutions using more than 35 key chemistry and technology platforms across its three portfolio of businesses viz Acetyls, Pyridines and Vitamins & Premixes, today announced a CDMO contract for estimated value of Rs 270 Crore in Specialty Chemicals business, spanning over a period of three years with one of its international customers, who is among the top 10 leading innovator pharmaceutical companies globally.  

    Through the contract the Company will supply Two key GMP intermediates for one of the ‘patented drugs’ of the Innovator Pharmaceutical customer. Both these products involve 7 steps specialised chemistry.  The Company was awarded these CDMO projects a few years back and with extensive work in R&D and Scale-up, it has successfully demonstrated its capability in Process development, optimisation and scaling-up of complex chemistries. Commercial supplies of both these products will start from FY’23 onwards. The Company will use GMP facility to service this contract.

    Speaking on the occasion, Mr. Rajesh Srivastava, CEO & Managing Director, Jubilant Ingrevia Limited shared, “The pursuit of growth is one of the key features of our strategy. Today’s announcement is in line with our strategy & commitment to grow our CDMO business of value-added GMP & Non-GMP intermediates. Success of these two GMP intermediates further demonstrates our capabilities to successfully develop and commercialise cost-effective processes with excellent quality involving complex chemistries. Our CDMO project pipeline for our Pharmaceuticals & Agrochemical continues to be strong and we stay committed to further strengthen our presence in the CDMO business, through a comprehensive and planned CAPEX.”  

  • 04 April 2022

    Award applications are invited for the 13th edition of the prestigious ‘Social Entrepreneur of the Year (SEOY) - India Award 2022’

    Jubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum,

    Noida, Uttar Pradesh, April 04, 2022: Jubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, invite applications for the 13th edition of the prestigious annual award - Social Entrepreneur of the Year (SEOY) India 2022.

    The last date for receiving applications for the Social Entrepreneur of the Year (SEOY) India Award is April 20, 2022. Candidates can participate by submitting the application form available at www.jubilantbhartiafoundation.com or email the filled form to jbf.seoy@jubl.com.

    The Social Entrepreneur of the Year - India Award is a joint initiative between the Jubilant Bhartia Foundation and the Schwab Foundation for Social Entrepreneurship (the sister organisation of the World Economic Forum). The award recognises individuals and organisations who implement innovative, sustainable and scalable solutions to address pressing issues faced by under-served communities in India. The winner of the Social Entrepreneur of the Year (SEOY) India Award 2022’ will be announced in September 2022. The winner is awarded by a prominent chief guest in a magnificent ceremony every year.

    These promising and successful social entrepreneurs with excellence in large-scale system change models work in diverse areas such as health, education, employment, water, clean energy, building identity & entitlements, financial literacy, access to information and technology, among others.

    A Global Platform: The Indian Social Entrepreneur of the Year Award gives the winner and finalists of the award an introduction to a global community of fellow entrepreneurs so that they can engage with public figures as peers, directly influence decision making, draw funding and enable further partnerships, hence helping them to extend their reach and impact exponentially.

    Benefits to winners through a three-year core programme:

    • Access to the world’s most influential network: Opportunity to connect with key partners at regional and global summits and Schwab Foundation’s digital platform TopLink and to learn sector-specific best practices and scale solutions through partnerships
    • Showcase awardees’ solutions to the highest level of decision-makers through award ceremonies, media campaigns, videos and speaking roles
    • Build the leadership capacity of awardees by strengthening their organisational and business strategies through executive education programmes at top universities, practitioner-oriented research, and curated programming at global and regional meetings
    • Create spaces for reflection and peer-to-peer mentoring to equip awardees with the support systems to lead their organisation and drive trust-based collaborations

    Parameters for Selection: The participating individuals and organisations are evaluated on the critical parameters of Market-based, Technology-enabled, Sustainability, Direct Social Impact, Reach & Scope, Replicability. The finalists every year are selected through a rigorous process, including expert reviews and site visits. The winner is chosen by a prominent Jury consisting of eminent leaders and professionals from the Government, Business, Media, and Civil Society.

    The Social Entrepreneur of the Year (SEOY) India Award aims to promote and celebrate leading social entrepreneurs and their unique ventures in India that help address the gaps in society and the country. The SEOY India Award not only inspires existing social entrepreneurs to further amplify their work and impact so as to become a part of this select community of social innovators but also inspires individuals with a penchant to bring change to choose the path of social entrepreneurship.

    About Schwab Foundation for Social Entrepreneurship was co-founded by Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, and his wife Hilde. For over twenty years, the Schwab Foundation for Social Entrepreneurship has supported the world’s leading social innovators in their efforts to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation. Learn about us at www.schwabfound.org and follow us on Twitter: https://twitter.com/schwabfound

  • 16 February 2022

    Jubilant Ingrevia Limited Commissions New Facility for Diketenes and Derivatives

    Demonstrates commitment to continued growth from advanced, high-potential chemistry platforms

    Noida, UP, India, February 16, 2022: Jubilant Ingrevia Limited, a global integrated Life Science products and Innovative Solutions provider with over 42 years of experience offering over 165 products & innovative solutions using more than 35 key chemistry and technology platforms across its three portfolio of businesses viz Acetyls, Pyridines and Vitamins & Premixes, today announced the commissioning of its new Diketene derivatives facility at its manufacturing site in North India at Gajraula, Uttar Pradesh.

    Jubilant Ingrevia Limited for many years has niche expertise in using Ketene chemistry technology. Using the Ketene chemistry capability, the Company has developed a range of Diketene Derivatives. The newly commissioned facility marks the entry of Jubilant Ingrevia Limited into the fast growing Diketene business portfolio. This reiterates Jubilant Ingrevia Limited’s commitment towards growth through its integrated business model, by providing value added products & innovative solutions to its customers.  
    The commissioned facility has about 7,000 TPA capacity to produce various Esters (Mono Methyl Acetoacetamide, Methyl Acetoacetate, Ethyl Acetoacetate and Ter-Butyl Acetoacetate). The Company’s long-standing association with leading customers in Pharmaceuticals, Agrochemicals and other industries and its advance efforts to get product approval from customers, will help in utilizing a major portion of the capacity of this new facility in the coming months. Jubilant Ingrevia Limited undertakes to commission future phases of Diketene Derivatives as per plan.

    On this occasion, Mr. Rajesh Srivastava, Chief Executive Officer and Managing Director, Jubilant Ingrevia Limited said,
    “It gives me immense pleasure to showcase yet another instance where Jubilant Ingrevia Limited has developed a strong chemistry platform proposition using inhouse R&D and technology transfer backed with high operating excellence and clear strategic direction. The commercial launch of the Diketene facility marks the next stage in the growth of the Company, positioning us closer to our client’s requirements of innovative products and solutions using novel and niche chemistry platform."

  • 01 February 2022

    Jubilant Ingrevia – Q3 & 9M’FY22 Results*

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter & Nine Months ended December 31st, 2021.

    *Financial numbers for comparative periods are presented on Pro-forma basis to reflect continuing operations pre and post demerger as explained in Note 2 in the disclaimer.

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter & Nine Months ended December 31st, 2021. The Board also declared an interim dividend of Rs 2.5 per equity share of Rs 1 each on the paid up capital of the company.

    Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman, Jubilant Ingrevia Limited said:

    “We are pleased to announce that in Q3’FY22 we continued to witness significant growth in our Revenue & EBITDA. We are also delighted to declared an interim dividend of Rs. 2.5 per equity share of Rs 1 each of the company amounting to Rs 39.8 Cr

    In our Specialty Chemicals segment we maintained strong growth across the products led by growing demand from Pharmaceutical, and Nutrition customers. In Nutrition & Health Solution the demand of Vitamin B3 improved and we placed higher volumes with improved realizations. In Life Science Chemical Segment, we continued the strong performance with healthy demand in domestic as well as in EU market.

    Our business team worked closely with customers and ensured that most of the increase in input cost is passed on and our supply chain team ensured the uninterrupted supplies and timely deliveries.

    We are pleased to inform, that in DJSI (Dow Jones Sustainability Index) Environmental Social & Governance (ESG) assessment, we scored 81 percentile in the global chemical industry and have been ranked among the top 20% chemical companies globally and amongst the Top 3 chemical companies in India.

    We remain excited with the growth opportunities in our businesses and are fully committed to realize them. Our strong new product pipeline developed by our in-house R&D, our technical expertise into various chemistry platforms and long-standing relationship with global Pharmaceutical & Agrochemical customers is a strong enabler in our growth journey . With our growth capex plans shaping up we remain in course of doubling the revenue by FY’26 from the base of FY’21

    Q3’FY22 Highlights

    A. Consolidated

    • Revenue grew by 44% on YoY basis, driven by growth across product segments.
    • Revenue from Pharma, Nutrition and Agro end use increased significantly.
    • Speciality Chemicals revenue grew by 22% YoY driven by volume growth across products and passing-on of higher input costs.
    • Nutrition and Health Solutions revenue grew by 37% YoY driven by higher volumes and improved price realisation.
    • Life Sciences Chemical revenue grew by 60% YoY, driven by higher prices on account of favorable market conditions.
    • EBITDA at Rs 222 Crore, grew by 42%, on account of strong performance of all three product segments.
    • PAT grew by 42% YoY driven by growth in EBITDA, added by reduction in finance cost through reduction in Gross debt and optimization of Interest rates.
    • ROCE in 9M'FY22 improved to 31.1% as against 20.2% in FY21.
    • ROE in 9M'FY22 stood at 25.2% as against 16.4% in FY21.

    Segment Wise Analysis

    B. Speciality Chemicals

    • Specialty Chemicals revenue grew by 22% on YoY basis driven by higher volume across product segments
    • Pharma Sales share to total revenue grew to 52% from 47% earlier
    • Revenue from Nutrition and Consumer end use also improved significantly during the quarter
    • EBITDA increased by 28% on YoY basis, and EBITDA Margin increased at 21.8% vs 20.8% in Q3'FY21, mainly due to higher volumes and improved realization despite higher input costs

    C. Nutrition & Health Solutions

    • Nutrition and Health Solutions revenue grew by 37% on YoY basis.
    • Growth of Vitamin Business was driven by higher volumes and improved prices.
    • Revenue share from EU increased to 36% as against 20% last year and share from North America increased to 21% from 11% earlier
    • Food and cosmetics volumes grew significantly
    • EBITDA grew by 87% on YoY basis. EBIDTA Margin improved at 24.4% vs 17.9% in Q3'FY21,
    • EBITDA margin was higher by 6.5% on account of higher volumes and improved price realizations

    D. Life Science Chemicals Segment

    • Life Sciences Chemicals revenue grew by 60% on YoY basis
    • Life Sciences Chemical revenue growth was driven by higher prices of Ethyl Acetate and Acetic Anhydride. Prices improvement was mainly on account of favorable market condition.
    • Overall Domestic sales for domestic consumption as well as for international consumption both have gone up significantly on YoY basis
    • EBITDA grew by 48% YOY. EBIDTA Margin stood at 13.9%. Growth in EBITDA margin was driven by
    • Improved product contribution driven by favorable market.

    Nine Months’FY22 Highlights

    E. Consolidated

    • Revenue grew by 51% on YoY basis, driven by growth across product segments.
    • Speciality Chemicals revenue grew by 19% YoY driven by volume growth across product.
    • Nutrition and Health Solutions revenue grew by 30% YoY driven by higher volumes and as well as higher prices.
    • Life Sciences Chemical revenue grew by 80% YoY, driven by higher prices on account of improved price realization on account of favorable market conditions.
    • EBITDA at Rs 712 Crore, grew by 68% on account of strong performance of all the three product segments and favorable market conditions in Life Sciences segment.
    • PAT grew by 85% YoY driven by growth in EBITDA, aided by reduction in finance cost on account of reduction in Debt and optimization of Interest rates.
    • ROCE in 9M'FY22 improved to 31.1% against 20.2% in FY21
    • ROE in 9M'FY22 stood at 25.2% as against 16.4% in FY21

    Segment Wise Analysis

    F. Speciality Chemicals

    • Specialty Chemicals revenue grew by 19% on YoY basis driven by higher volume across product.
    • Domestic sales revenue grew significantly, percentage share to total revenue increased to 38% from 25%
    • Sales in North American region increased by 60% on YoY basis.
    • Sales from pharma and Nutrition end-use segment grew significantly on YoY basis
    • Consumer as percentage share to total revenue increased to 10% from 8%
    • EBITDA grew by 16% YoY. EBITDA Margin were at 24.4% vs 25.1% in 9M'FY21, due to higher raw material prices and increase in other input costs.

    G. Nutrition & Health Solutions

    • Nutrition and Health Solutions revenue grew by 30% on YoY basis.
    • Growth of Vitamin Business was driven by higher volumes and improved prices.
    • Animal Nutrition and Health solution business also improved volumes and realization YOY.
    • Consumption in EU and North America has gone up significantly.
    • Feed and Food demand has gone up on YoY basis in higher double digit
    • EBITDA grew by 30% on YoY basis. EBIDTA Margin stood at 20.3%, EBITDA margin remained flat mainly on account of continuing increase in input costs and along with discontinuation of export benefit (MEIS)

    H. Life Science Chemicals Segment

    • Life Sciences Chemicals revenue grew by 80% on YoY basis
    • Life Sciences Chemical revenue growth was driven by higher prices and volume growth in Acetic Anhydride.
    • Prices improvement was mainly on account of favorable market condition and improved realization of Ethyl Acetate
    • Revenue from domestic sales for domestic consumption and domestic sales for exports both have gone up significantly on YoY basis.
    • EBITDA grew by 195%. Margin stood at 18.1%. Growth in EBITDA margin was driven by
      • Improved product contribution driven by favorable market conditions of Acetic Anhydride.
      • Improved pricing of Ethyl Acetate also contributed to margin expansion.

    I. Business Outlook

    • We expect demand of most of our Products to remain strong.
    • Our Diketene plant is under commissioning now, and we expect to start our commercial production during the current quarter.
    • Our committed investment worth Rs. 450 Crore for key growth capex is progressing well. At peak capacity these investments are expected to generate additional annual revenue of Rs. 900-1,000 Crore at prevailing prices ? Food Grade Acetic Acid. (Expected to be in operation during the quarter April to June 2022)
      • CDMO GMP Facility at Bharuch. (Expected to be in operation during the quarter July to September 2022)
      • Three Multi-Purpose plants of Speciality Chemicals. (Expected to be in operation during the quarter July to September 2022)
      • Acetic Anhydride Plant. (Expected to be in operation during the quarter January to March 2023)
      • Agro Actives Phase-1. (Expected to be in operation during the quarter January to March 2023)
    • Our expected capex cash outflow for the year is expected to be in the range of Rs 300 crore.

    J. Debt Position – As on 31st December, 2021

    • Gross Debt reduction by Rs 263 Crore and Net Debt reduction by Rs 201 Crore from 31st March 2021.
    • Net Debt to EBITDA in Q3'FY22 stands at 0.24 times, from the earlier level of 0.69 times as on 31st March, 2021.
    • Average blended interest rate for Q3'FY22 was 5.25%, as against 7.01 % in Q4'FY21

    K. Balance Sheet – Key Parameters/Ratios (Pro-Forma2)

    • Balance Sheet Ratios strengthened on improved performance:
    • RoCE improved significantly to 31.1% in Nine Months’FY22
    • RoE improved at 25.2% in Nine Months’FY22
    • Asset to Turnover increased to 2.8x in Nine Months’FY22
    • #The Net Working Capital %age to Turnover & No of days on the basis of Q3’FY22 Annualized Turnover are 16.5% & 60 Days respectively.
    • Increase in Net Working Capital is driven by higher Raw Material cost and Sale price leading to higher value of inventory and debtors and ‘Make Vs Buy’(Import) of ethanol due to higher import prices.

    Income Statement – Q3 & Nine Months’FY22

    • All figures are in Rs Crore unless otherwise stated
    • Q3'FY21 and Nine Months'21 is derived from discontinued operation of LSI segment of Jubilant Pharmova Limited on Pro-forma basis
    • EPS has been computed on combined profits assuming existence of share capital for full year.
  • 19 October 2021

    Jubilant Ingrevia – Q2 & H1’FY22 Results*

    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter & Half Year ended September 30th, 2021.

    tb1

    *Financial numbers for comparative periods are presented on Pro-forma basis to reflect continuing operations pre and post demerger as explained in Note 2 in the disclaimer.

    Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman, 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.”

    Q2’FY22 Highlights

    A. Consolidated

    tb2
    • 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

    Segment Wise Analysis

    B. Speciality Chemicals

    tb3
    • Specialty Chemicals revenue grew by 17% on YoY basis driven by higher volume across product segments
    • North America revenue grew significantly; percentage share to total revenue increased to 11% from 9%.
    • Domestic Sales for International consumption percentage share to total revenue grew from 6% to 12 %
    • Agrochemical grew as percentage share to total revenue increased to 25% from 21%.
    • Consumer as percentage share to total revenue increased to 9% from 7%.
    • EBITDA remained flat and EBITDA Margin declined at 24.1% vs 28.1% in Q2’FY21, due to volatility in prices of input costs.

    C. Nutrition & Health Solutions

    tb4
    • Nutrition and Health Solutions revenue grew by 43% on YoY basis.
      • Growth was driven by prices and growth in Niacinamide volume.
      • Animal Nutrition and Health solution business growth was led by higher volumes of Choline Chloride and specialty products.
    • Consumption in EU and contribution in sales has gone up from 20% to 28 % and in North America from 12% to 23%,
    • Feed volumes grew by 34% and Food by more than 100%
    • EBITDA grew by 23% on YoY basis. EBIDTA Margin stood at 19.5% vs 22.6% in Q2’FY21, EBITDA margin was lower by 3.1% on account of continuing increase in input costs and along with discontinuation of export benefit (MEIS).

    D. Life Science Chemicals Segment

    tb5
    • Life Sciences Chemicals revenue grew by 84% on YoY basis
    • Life Sciences Chemical revenue growth was driven by higher prices across products and higher volume of Acetic Anhydride.
    • Prices improvement was mainly on account of favorable market condition driven by disruption in European and China market driven by force majeure by key supplier of Acetyl products.
    • Consumption in domestic sales for export has gone up significantly and its contribution percentage to revenue increased from 18% to 23%.
    • EBITDA Margin stood at 13.8% compared to 9.7% in Q2’FY21. Growth in EBITDA margin was driven by
      • Improved product contribution driven by favourable market condition.

    H1’FY22 Highlights

    E. Consolidated

    tb6
    • Revenue grew by 56% on YoY basis, driven by robust growth in volume and prices.
    • Speciality Chemicals revenue grew by 18% YoY driven by volume growth across product segments.
    • Nutrition and Health Solutions revenue grew by 26% YoY driven by higher volumes and growth in Niacinamide price
    • Life Sciences Chemical revenue grew by 93% YoY, driven by higher prices on account of favorable market conditions and pass-on of higher input cost of acetic acid
    • EBITDA at Rs. 490 Crore, grew by 83% on account of strong performance of Life Sciences chemical segment led by favorable market conditions supported by Speciality Chemicals.
    • PAT grew by 115% YoY driven by growth in EBITDA, aided by reduction in finance cost on account of reduction in 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

    Segment Wise Analysis

    F. Speciality Chemicals

    tb7
    • Specialty Chemicals revenue grew by 18% on YoY basis driven by higher volume across product segments
    • North America revenue grew significantly; percentage share to total revenue increased to 10% from 7%.
    • Domestic Sales for International consumption percentage share to total revenue grew from 6% to 12%.
    • Nutrition grew as percentage share to total revenue increased to 8% from 5%.
    • Consumer as percentage share to total revenue increased to 10% from 8%.
    • EBITDA grew by 11% YoY. EBITDA Margin declined at 25.9% vs 27.4% in H1’FY21, due to higher raw material prices.

    G. Nutrition & Health Solutions

    tb8
    • Nutrition and Health Solutions revenue grew by 26% on YoY basis.
      • Growth was driven by prices and growth in Niacinamide volume.
      • Growth in Animal Nutrition and Health Solutions was led by volume growth in Choline Chloride and specialty products.
    • Consumption in EU and North America has gone up significantly.
    • Feed and Food demand has gone up on YoY basis in higher double digit
    • EBITDA grew by 3% on YoY basis. EBIDTA Margin stood at 17.7% vs 21.8% in H1’FY21, EBITDA margin lower by 4.0% mainly on account of continuing increase in input costs and along with discontinuation of export benefit (MEIS).

    H. Life Science Chemicals Segment

    tb9
    • Life Sciences Chemicals revenue grew by 93% on YoY basis
      • Life Sciences Chemical revenue growth was driven by higher prices and volume growth in Acetic Anhydride.
      • Prices improvement was mainly on account of favorable market condition
      • Consumption in domestic sales for export has gone up and its contribution percentage to revenue increased to 22% from 18% in H1’FY21
    • EBITDA Margin stood at 20.2% compared to 8.6% in H1’FY21. Growth in EBITDA margin was driven by
      • Improved product contribution driven by favorable market condition and Acetic Acid stock led benefit due to increase in prices.
      • Acetic Acid stock led benefit due to increase in prices.

    I. Business Outlook

    • Demand of most of our Products is expected to remain strong in H2. Though input costs are increasing our business teams are confident to pass on the incremental costs by working closely with customers
    • We will continue to make efforts to deleverage the Balance Sheet and reduce the Debt without compromising on growth.
    • Progress of ongoing Diketene Capex is as per schedule, and is expected to be commissioned during the Quarter Jan to March 2022.
    • Further during the year so far we have committed investment worth Rs. 450 Crore for following growth capex. At peak capacity these investments are expected to generate additional annual revenue of Rs. 900- 1,000 Crore at prevailing prices
      • CDMO GMP Facility at Bharuch. (Expected to be in operation during the quarter April to June 2022)
      • Three Multi-Purpose plants of Speciality Chemicals. (Expected to be in operation during the quarter July to Sep 2022)
      • Food Grade Acetic Acid. (Expected to be in operation during the quarter April to June 2022)
      • Acetic Anhydride Plant. (Expected to be in operation during the quarter Jan to Mar 2023)
      • Agro Actives Phase-1. (Expected to be in operation during the quarter Jan to March 2023)
    • Our expected capex cash outflow for the year will be in the range of Rs 350 crore.

    Income Statement – Q2 & H1’FY22

    tb10
    • All figures are in Rs Crore unless otherwise stated
    • Q2’FY21 and H1’21 is derived from discontinued operation of LSI segment of Jubilant Pharmova Limited on Pro-forma basis
    • EPS has been computed on combined profits assuming existence of share capital for full year.

    Earnings Call details

    The company will host earnings call at 5.00 PM IST on

    Participants can dial-in on the numbers below
    Primary Number: + 91 22 6280 1141 / + 91 22 7115 8042
    Local Access Number: +91-7045671221 (Available all over India)
    Toll Free Numbers:
    USA: 1 866 746 2133
    UK: 0 808 101 1573
    Singapore: 800 101 2045
    Hong Kong: 800 964 448

    Replay: October 19 to October 26, 2021
    Dial-in: +91 22 7194 5757/ +91 22 66635757
    Playback ID: 00999#

  • 07 October 2021

    Pranshu Singhal of KARO SAMBHAV Wins the 12th Social Entrepreneur of the Year (SEOY) Award - India 2021, presented by Prof. K. VijayRaghavan, Principal Scientific Adviser to the Government of India

    Noida, October 7, 2021: The Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, and the Jubilant Bhartia Foundation of Jubilant Bhartia Group today conferred Pranshu Singhal of KARO SAMBHAV with the prestigious Social Entrepreneur of the Year Award - India 2021. The award was presented by Prof. K. VijayRaghavan, Principal Scientific Adviser to the Government of India at a virtual ceremony in presence of eminent personalities from different fields from across the world.

    Felicitating the winner and congratulating the finalists of this year’s SEOY Award India 2021, Prof. K. VijayRaghavan, Principal Scientific Adviser to the Government of India said, “This global pandemic has been a major crisis and the social entrepreneurs have come forward in each section of the society as emergency rescuers for the most vulnerable, by stretching their means to the maximum possible. We need to take important lessons from these change makers working at the grass-roots offering unique solutions to seemingly impossible challenges. Recognising their ideas, work and contributions towards solving challenges will help them scale their work and increase their efficiency. I compliment the Schwab Foundation and the Jubilant Bhartia Foundation for this unique initiative of recognising these social entrepreneurs for over a decade now.”

    The SEOY India Award 2021 winner Pranshu Singhal from Karo Sambhav is working to make circular economy possible and is enabling enterprises to close their material loops. Karo Sambhav covers e-waste, plastic packaging waste, battery waste and glass and continues its exploration towards less scrutinised sectors like mattresses and textiles. Pranshu aims to shape and catalyse the set-up of a well-governed and accountable end-of-life waste management industry with transparent practices.

    Ms. Hilde Schwab, Co-Founder and Chairperson, Schwab Foundation for Social Entrepreneurship and Professor Klaus Schwab, Founder & Executive Chairman of, World Economic Forum and Co-Founder of the Schwab Foundation for Social Entrepreneurship commended the role of social entrepreneurs and congratulated the winner & finalists. They shared, “The global pandemic has emphasised the critical role of social innovators in identifying urgent needs and responding to realities on the ground. This year’s winner and finalists of the Social Entrepreneur of the Year India Award represent the ethos of social innovation and entrepreneurship. They are actors who have selflessly dedicated their lives to improving the state of the world by reaching and strengthening marginalised communities on the fringes of society. Social innovators are pioneering agents of change, revitalising the way our institutions operate, and are critical to achieving a more equitable world. The Schwab Foundation for Social Entrepreneurship is proud to have been partnering with Jubilant Bhartia Foundation over the past 12 years to award social innovators from India who are not only driving change but are also shifting systems towards a more inclusive and sustainable future.”

    Applauding the winner and the finalists, Mr. Shyam S Bhartia, Chairman and Founder and Mr. Hari S Bhartia, Chairman & Co-Founder, Jubilant Bhartia Group and Founder Directors of Jubilant Bhartia Foundation said, "The pandemic brought to the forefront the extraordinary role of social entrepreneurs as front line workers and showcased their vast reach and penetration in the country. The social entrepreneurs have acted as Corporate India’s implementation partners, working hand-in-hand. Despite the shattering second wave of COVID-19, this year we received close to 100 diverse submissions out of which 28 were women social entrepreneurs & two of them have been selected as finalists. The award submissions reflect the indomitable spirit and resilience of the social entrepreneurs. The social entrepreneurs have also set an example for collaborative efforts worldwide by displaying the power of working together and leveraging each other’s strengths. To amplify the work of these social entrepreneurs especially on post COVID rehabilitation, we now part of the World Economic Forum’s initiative - the ‘COVID Response Alliance for Social Entrepreneur’s. The alliance will provide a platform to showcase the work done by the social entrepreneurs in India as well as globally. Kudos to all our finalists and the winner who have made through several stringent rounds of evaluation. This year marks the 12th year of our strong partnership with the Schwab Foundation for Social Entrepreneurship. Over the years we have seen over 1700 high impact submissions. We stay committed to recognising and empowering these high spirited individuals in their endeavours.”

    Pranshu Singhal on winning the SEOY Award India 2021 shared, “We are today in the decade of action. We need a movement where people, organisations, enterprises, governments collaborate and co-create solutions. I thank the SEOY India Award for kick starting the journey of making things circular. This award will go a long way in helping us be a catalyst in this space.”

    Pranshu Singhal from Karo Sambhav will join the Schwab Foundation for Social Entrepreneurship’s Community, the world’s largest and prestigious network of social innovators from around the world. The winner of SEOY Award also participates in World Economic Forum (WEF) events which offer unique opportunities to engage with global decision-makers from the public, corporate, media, academic and civil society sectors. The other finalists of SEOY Award India 2021 were Dr. Aparna Hegde from ARMMAN, Seema Prem from FIA GLOBAL and Dr. Shuchin Bajaj from UJALA CYGNUS.

    The SEOY Award aims to recognise promising and successful social entrepreneurs, who are key enablers of inclusive growth addressing challenges in numerous areas with excellence in large-scale, system change models. The SEOY Award - India has established itself as one of the most reputable awards for social entrepreneurs in India. This year the award celebrates its 12th year. In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India and has since recognised and supported the growing field of social innovation in India.

    This year’s jury members for the award included, Ms. Shobhana Bhartia, Chairperson & Editorial Director, HT Media Ltd; Ms. Hilde Schwab, Chairperson & Co – Founder, Schwab Foundation for Social Entrepreneurship; Mr. T V Narendran, CEO & Managing Director, Tata Steel Ltd & President, CII; Ms. Sudha Pillai, Former Member Secretary, Planning Commission, Government of India; Mr. P R Ganapathy, Regional Director, Stanford Seed, India; Ms. Rohini Nilekani, Chairperson, Arghyam Foundation; Ms. Ashraf Patel, Founder, Pravah & Commutiny Youth Collective Winner SEOY 2020 and Mr. Ramraj Pai, Chief Executive Offi­cer, India Impact Investor’s Council (IIC).

    About the winner:

    Pranshu Singhal from Karo Sambhav aims at making recycling a way of life in India and beyond.  The organisation is working to make circular economy possible by building systems, platform, and infrastructure for end-of-life (eol) waste collection and recycling, and utilisation of recovered materials. It is creating an inclusive social movement, which drives long-term behaviour change, ensures participation from different sections of the society, is supported by the producers and provides a fair value and opportunity to all the stakeholders involved in the waste management value chain. It collaborates with producers on circular economy and EPR frameworks for multiple waste categories.

    Through pioneering practices, and strategic alliances with organisations like IFC, GIZ, ILO, WEEE Forum, PACE, Karo Sambhav’s programmes are helping shape contours of the eol waste management industry. Together with the world’s leading CPG brands, Karo Sambhav launched India’s first industry-led venture to solve the plastic waste crisis. It is the first organisation in the country to design and implement solutions for nationally regulated as well as voluntary waste streams. It covers e-waste, plastic packaging waste, battery waste and glass and continues its exploration towards less scrutinised sectors like mattresses, textiles.

    A critical aspect of Karo Sambhav is its engagement with the informal sector (waste pickers, and aggregators). It has helped increase the average incomes of the marginalised informal waste pickers by providing them a fair value, built capacities and created livelihoods. Karo Sambhav’s technology platform (mobile and web-app) gives it an edge by establishing transparency and traceability across the waste value chain and allows multiple stakeholders to be on a single platform. Karo Sambhav has collected and enabled responsible recycling of over 23,000 MT of e-waste and plastics waste in the past four years and has prevented 21,100 MT of CO2 emissions. It has engaged with over 3,000 schools, over 500 bulk consumers, more than 5,000 informal workers in over 60 cities across 29 States of India.

    Note to the Editors:

    Schwab Foundation for Social Entrepreneurship was co-founded by Hilde Schwab and Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. For over twenty years, the Schwab Foundation for Social Entrepreneurship has supported the world’s leading social innovators in their efforts to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation.

    Learn more at www.schwabfound.org and follow on:
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