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  • 14 May 2024

    Jubilant Ingrevia Limited – Q4 & FY24 Results

    The Board of Jubilant Ingrevia Limited met today to approve financial resultsfor the quarter and year ended March 31st, 2024.

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    All figures are in Rs Crore unless otherwise stated

    # During the quarter, the company has opted to move to the new tax regime from FY24 onwards whereby the applicable statutory tax rate shall only be 25.17% as against the statutory tax rate of 34.944% in the old tax regime in the prior years. Consequently, the tax expense for Q4 FY 24 quarter and FY 24 includes onetime transitional write-off of brought forward MAT credit amounting to Rs. 12.56 crores

    The Board of Jubilant Ingrevia Limited met today to approve financial resultsfor the quarter and year ended March 31st, 2024. The Board of Directors at its meeting held on 14th, May, 2024 has declared a final 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, CoChairman, Jubilant Ingrevia Limited said:

    We are pleased to announce stable business performance for Q4 amidst the continued challenging market conditions.

    Dividend declaration

    We are glad to share that the Board has recommended a final dividend of 250% i.e. Rs 2.50 per equity share of face value of Re 1 each for the FY’24. 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 2.50 per equity share of Rs 1 each and the total dividend for FY’24 works out to be 500% i.e. Rs 5 Per equity share of Rs 1 each amounting to Rs 79.8 Crore of Cash outflow.

    Capacity addition: New product lines at Bharuch (Agro actives & Intermediate), Gajraula (Diketene derivatives)

    We are also pleased to share that during the quarter, we commissioned our multipurpose Agro Active & Intermediate Plant at Bharuch facility. This plant would strengthen our capacity and capability to produce forward integrated, high potential Agro Actives & Intermediates, through long-term contractual arrangements with our customers.

    In addition to that, we also commissioned a plant for new Diketene Derivatives in Gajraula facility which will further enhance our Diketene product portfolio. Commissioning of these plants is in line with our stated strategy of further strengthening of our Speciality Chemicals product portfolio.

    Market in FY24

    The Agrochemicalssector, which faced dual challenges of overstocking of inventories and oversupply from China during the year, is yet to bounce back to normalcy. While, the excess inventory situation is expected to ease out and volumes are likely to move, the prices may still remain under pressure due to excess supply of agrochemicals globally. We expect that sectoral recovery may still take 1-2 more quarters.

    In the Pharmaceutical end-use segment, we witnessed stable demand trends with healthy volume placements during the quarter. Early signs of further improvement in demand in certain products are signaling near term outlook remaining buoyant, with significant pricing recovery yet to take place.

    In Nutrition Segment, the demand is steady however prices remained under pressure due to excesssuppliesfrom China.

    Future outlook

    With the onset of new financial year FY25, we expect all the three segments to improve sequentially over FY24. Our key focus in FY25 will be on customer centricity, ramping up the newly commissioned plants, remaining lean and bringing back the margins to normal levels.

    Owing to Project Lean, our endeavors towards keeping our costs under control has started bearing results.

    Our collaboration with O2 Renewable Energy Private Limited, to source renewable energy also augurs well for us and demonstrates our commitment to sustainability and improving our operational efficiencies in times to come.

    We are getting good traction from cosmetics & semiconductor sectors. We are firm and on track towards investing in high-potential product categories and expand our product portfolio through our ongoing modular capex plan of Rs 2000 Cr, to deliver structured growth and drive us towards our newly created vision of Pinnacle 345 i.e. 3 times Revenue, 4 times EBIDTA, in 5 years.”

    Q4 & FY24 Highlights | Segment Wise Analysis

    A. Speciality Chemicals

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    All figures are in Rs Crore unless otherwise stated

    Market Highlights

    Pharma

    • Continued improvement in demand from end-use segment, volumes remained strong and prices are yet to recover.

    Agrochemical

    • Destocking phenomenon is expected to be at a fag end, we are witnessing volumes growing gradually. Oversupply from China is still a concern, which is keeping the prices muted.

    CDMO

    • Demand from North American and Europe region grew during the quarter, while Domestic market was relatively soft. Newer inquiries from Japan

    Business Highlights

    • CDMO business is on growth trajectory, increasing traction from customers across pharma, agro and even semiconductors/electronics; across Europe/ US/ Japan
    • Di-ketene plant currently operating at 60%-70% utilisation, with sizable volume traction during Q4FY24.
    • Microbial Control Solutions business is witnessing traction through new products in Pyrithiones platform to support accelerated growth going forward.
    • Pyridine building blocks volumes were significantly higher during the quarter, though the prices and margins remained strained.
    • Commissioned Multi-purpose Agro Actives & Intermediate plant in Bharuch and Diketene Derivatives plant in Gajraula in Q4FY24. Financial Highlights
    • Revenue in Q4 saw a significant increase (vs. Q3) on account of higher volumes across pyridine based products, Di-ketene derivatives and CDMO portfolio.
    • However, the pressure on pricing stayed across product lines, especially in agrochemicals and to some extent in pharma too; this led to marginal drop in EBITDA margin.

    B. Nutrition & Health Solutions

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    All figures are in Rs Crore unless otherwise stated

    Market Highlights

    Feed B3

    • Vitamin demand remained stable during the quarter, though competitive forces witnessed leading to pricing pressures.

    Food & Cosmetic B3

    • Steady demand for food grade and cosmetic grade products; witnessing increasing traction in the market.

    Choline Salts

    • Steady demand but pricing pressure continues with competitive offering from China.

    Business Highlights

    • Improved our global market share in Feed grade Niacinamide FY24, as against in FY23.
    • Continued focus on improving market share from customers in niche segments i.e. Cosmetics and Food grade resulted in increased volume and revenue from the segment in Q4’FY24 sequentially and in FY24
    • GMP compliant facility for Food & Cosmetic grade Niacinamide is expected to be commissioned in Q3’FY25, also started receiving good traction for booking of volumes.
    • Launched new products range with introduction of food grade Choline Chloride and Choline Bitartrate

    Financial Highlights

    • Revenue for the Quarter and Year grew on account of higher Niacinamide volumes, margins were under pressure due to lower realizations.
    • Sale of high cost carry forward inventory from Q3 also impacted EBITDA margins negatively (driven by a planned shutdown in Q3)

    C. Chemical Intermediates Segment

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    All figures are in Rs Crore unless otherwise stated

    Market Highlights

    Volumes

    • Continued lower utilizations in downstream industries including Agrochemicals and Paracetamol constrained further volumes pickup in the segment.

    Cost

    • Red-Sea challenge resulted in overall increase in ocean Freight impacted sales and contribution margins during the quarter.

    Price

    • Ample supply and high inventories of Acetic Acid across Asia led to Acetic Anhydride prices remaining under pressure and range-bound.

    Business Highlights

    • On YoY basis improved Acetic Anhydride market share in Europe, and increased penetration by acquiring new customers.
    • Maintained dominant market share for the Acetic Anhydride in domestic markets.
    • Implemented world class digital/analytics initiatives at our global manufacturing facilities to improve cost structure.
    • Received +99% Biogenic Content Rating fortests conducted for Carbon C-14 natural content for Green Acetic Acid.
    • Expanded footprints in global markets through value added products penetration e.g., Propionic Anhydride in Europe.
    • Markets are tough in Ethyl Acetate and we are opportunistically engaging to conserve and expand margins.

    Financial Highlights

    • Revenue for the Year and Quarter were impacted on account of lower prices of Acetic Anhydride, which were primarily driven by lower pricing of underlying key raw material, i.e. Acetic Acid.
    • EBIDTA was lower on account of lower realization in Acetic Anhydride driven by continued lower utilizations in downstream industries including Agrochemicals and Pharma (Paracetamol).

    D. Income Statement – Q4 & FY24

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    All figures are in Rs Crore unless otherwise stated

    # During the quarter, the company has opted to move to the new tax regime from FY24 onwards whereby the applicable statutory tax rate shall only be 25.17% as against the statutory tax rate of 34.944% in the old tax regime in the prior years. Consequently, the tax expense for the quarter includes onetime transitional write-off of brought forward MAT credit amounting to Rs. 12.56 crores.

    E. Segment P&L – Q4 & FY24

    gy img

    All figures are in Rs Crore unless otherwise stated.

    # During the quarter, the company has opted to move to the new tax regime from FY24 onwards whereby the applicable statutory tax rate shall only be 25.17% as against the statutory tax rate of 34.944% in the old tax regime in the prior years. Consequently, the tax expense for the quarter includes onetime transitional write-off of brought forward MAT credit amounting to Rs. 12.56 crores

    F. Key Ratios

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    All figures are in Rs Crore unless otherwise stated.

    • Increase in Net Debt during the year is led by Rs 572 Cr of Capex in FY24.
    • Net Debt in H2 was reduced by Rs 48 Cr through focussed working capital optimization led by active management of Inventories and other measures driven by Lean initiatives.
  • 01 April 2024

    Jubilant Ingrevia Limited Commissions New Facility for Diketenes & Derivatives

    Strengthens Profile in Specialty Chemicals Segment; Positions Attractively for Accelerated Growth From Advanced, High-Potential Chemistry Platforms

    Strengthens Profile in Specialty Chemicals Segment; Positions Attractively for Accelerated Growth From Advanced, High-Potential Chemistry Platforms

    Noida, UP, India, April 01, 2024: Jubilant Ingrevia Limited, today announced the commissioning of a new facility at its manufacturing site for Diketene derivatives at Gajraula, Uttar Pradesh. As a global, integrated life science products and innovative solutions provider, the Company presently has over 134 products & innovative solutions commercialised. With over four decades of experience, it has developed proficiency across ~35 key chemistry and technology platforms across its businesses: Specialty, Nutrition and Chemical Intermediates.

    The newly commissioned facility adds additional capacity of ~2,000 TPA to produce high-value esters. This strengthening of the Diketene and derivatives platform marks a natural evolution of strategy in the Specialty Chemicals segment. This business is pivoting towards accelerated growth and higher margins with the introduction of several downstream derivatives.

    In line with its long-term strategic objectives, Jubilant Ingrevia remains committed to commissioning of future phases of Diketene derivatives. In addition to existing clients the expanded range of diketene derivatives will be aimed at a new category of customers in key international markets, including the U.S and E.U regions.

    On this occasion, Mr. Deepak Jain, Chief Executive Officer and Managing Director, Jubilant Ingrevia Limited, said, “I am delighted to emphasise our unwavering dedication to specialty chemicals business with the introduction of this new facility. Diketene and derivatives represent an accelerated growth platform for us. We are committed to cultivating a comprehensive range of advanced product portfolio within this segment with about half a dozen existing derivatives and several new ones in pipeline. Today’s announcement marks an inflection in growth as this advancement will bring us closer to satisfying our client’s needs for innovative products and solutions, leveraging a distinctive and specialised chemistry platform”.

    Whereas the existing range of offerings in diketene and derivatives has ramped up markedly, the next iteration of growth shall come from introduction of new products that are presently in the pipeline. The Company’s long-standing association with leading customers in pharmaceuticals, agrochemicals and other industries combined with early efforts to get customer product approvals, are expected to drive major portion of capacity utilisation in the coming months.

  • 12 March 2024

    Jubilant Ingrevia Limited Partners With O2 Renewable To Increase The Use Of Green Energy

    Jubilant Ingrevia Limited, a prominent player in India's sustainable manufacturing, today announced that it has partnered with O2 Renewable Energy XVIII Private Limited (‘O2 Renewable’, a group company of O2 Power SG PTE. LTD, Singapore), a leading renewable energy developer.

    Noida, Uttar Pradesh, India, March 12, 2024:Jubilant Ingrevia Limited, a prominent player in India's sustainable manufacturing, today announced that it has partnered with O2 Renewable Energy XVIII Private Limited (‘O2 Renewable’, a group company of O2 Power SG PTE. LTD, Singapore), a leading renewable energy developer. This partnership marks a significant step for the Company towards establishing renewable energy power generation using hybrid open excess through solar and wind sources. It aims to access renewable energy through a captive arrangement, fulfilling the Company's power requirements and meeting its increasing demand from green energy to power its manufacturing facilities at Gajraula, Uttar Pradesh and Savli, Gujarat. This represents an important milestone in the Company’s sustainability journey by reducing dependence on non-renewable energy sources and reducing its carbon footprint.

    Commenting on this development, Mr. Deepak Jain, CEO & Managing Director, Jubilant Ingrevia Limited, said, "Our collaboration with O2 Renewable demonstrates our commitment to sustainable practices, minimising our ecological footprint and improving operational efficiency. This emphasises the importance of fostering innovation and economic growth while contributing to a sustainable future.”

    Speaking on this occasion Mr. Parag Sharma, Founder and Chief Executive Officer, O2 Renewable said, “We are delighted to partner with Jubilant Ingrevia, a global integrated life science products and innovative solutions provider, for the supply of green energy. This will enable them to take a significant step towards attaining their sustainable goals and offsetting their carbon emissions. We hope to expand this relationship in the near future and cater to the other facilities of the Jubilant Bhartia Group, helping them turn green and sustainable.”

    An ESG leader, Jubilant Ingrevia started its sustainability journey in the early 2000s. It has been a top-ranking chemical company in ESG initiatives, like S&P DJSI, TFS, Ecovadis, CDP Climate Change program and Responsible Care certification. The Company is now focusing on green energy, and introducing renewables in the portfolio is one of the many things it is currently doing, like biomass.

    To further strengthen its position as an ESG leader, Jubilant Ingrevia has intensified its focus on green energy, setting ambitious targets to achieve above 30% greening in the coming years. Initiatives have already been launched at its Nira, Maharashtra facility and are now extending to facilities in Gajraula and Savli.

    While adopting renewable energy brings environmental benefits, it also has other advantages, like reducing the overall cost of power and enabling the Company to offer more competitive value propositions to its customers.

    The Jubilant Bhartia Group, known for its commitment to ESG principles and sustainability, is leading an ambitious drive to extend green initiatives across all its entities. Each entity within the Group actively implements green practices shaped to their respective sectors. The Group promotes these values within its operations and the wider community.

  • 05 March 2024

    Jubilant Ingrevia Limited Commissions Multipurpose Agro Active & Intermediate Plant, Through its Wholly Owned Subsidiary

    Strengthens Portfolio in Forward Integrated, High-Potential Agro Actives & Intermediates

    Strengthens Portfolio in Forward Integrated, High-Potential Agro Actives & Intermediates

    Noida, Uttar Pradesh, India, March 05, 2024: Jubilant Ingrevia Limited today announced the commissioning of its state-of-the-art, multipurpose, agro active & intermediate plant to produce value-added products at its manufacturing facility at Bharuch, Gujarat.

    The plant, established by the Company's wholly-owned subsidiary, Jubilant Agro Sciences Limited, is geared towards meeting the rising future global demand for agro actives & intermediates. This plant will be utilised for both its CMO customers and own actives.

    Jubilant Ingrevia has been synthesising several agro intermediates at its manufacturing facility at Bharuch, Gujarat, and this new plant will further expand its presence in agrochemicals. This plant will primarily cater to insecticides intermediates and actives, fungicides actives, based on company’s core pyridine and non-pyridine value chains.

    Speaking on the occasion, Mr. Deepak Jain, CEO & Managing Director, Jubilant Ingrevia Limited said,

    “We are delighted to commission our new multipurpose agro actives & intermediates plant, marking a significant advancement in our core strategy to amplify the impact of value-added agrochemicals in our business. By leveraging our expertise in providing solutions to our worldwide customers through multi-step chemistries, we have emerged as a partner of choice for global agrochemical customers, including innovators. The commissioning of this cutting-edge facility is a testament to our dedication towards expanding our business into more value-added agro actives & intermediates. This plant adds further capacity to our agrochemicals business, on top of the intermediates plant we commissioned recently in Dec’23”

    As a global leader in multiple product platforms, the Company has developed several cost-competitive, value-added products through its strong backward integration, utilising captive raw materials. This new plant can further synthesise a variety of agro actives & intermediates for both domestic and international customers.

    Jubilant Ingrevia remains committed to ESG principles. The commissioning of this multipurpose, agro actives & intermediates facility will enable its strategic partners and key customers to reduce their carbon footprint.

     

  • 01 March 2024

    Call for India’s Social Change Leaders: Applications invited for the Prestigious 'Social Entrepreneur of the Year (SEOY) - India Award 2024'

    Jubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, invite applications for the 15th edition of the annual competition..

    Noida, Uttar Pradesh, March 01, 2024: Jubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship, a sister organisation of the World Economic Forum, invite applications for the 15th edition of the annual competition - Social Entrepreneur of the Year – India Award 2024 (SEOY). The application for the award will be accepted till April 30, 2024. 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 – India Award 2024 will be announced on 10th September 2024 in New Delhi.

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

    The participating individuals and organisations will be evaluated on the key parameters of Market-based, Technology-enabled, Sustainability, Direct Social Impact, Reach & Scope and Replicability.

    The finalists will be selected following an extensive search and selection process, including expert reviews, interviews and site visits. The winner is selected by a jury of eminent leaders and professionals from Government, Business, Media, and Civil Society.

    The Social Entrepreneur of the Year – India Award aims to promote and celebrate leading social entrepreneurs and their unique ventures in India that help address the different societal gaps in our 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 – India Award, and they have since recognised and supported the growing field of social innovation in India. This year, the award celebrates its 15th year and has established itself over the last decade 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 under-served communities face 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, and access to information and technology.

    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, 2024

    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:

    Dr Shuchin Bajaj from Ujala Cygnus won the Social Entrepreneur of the Year Award - India 2023, presented by Mr Amitabh Kant, G-20 Sherpa, during its presidency, Government of India. Dr Shuchin Bajaj, through Ujala Cygnus’ 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 works with a mission of ‘Building trust by saving and caring for lives with dignity, affordability and quality’. Ujala is bringing the revolution of super-speciality tertiary health care to the untouched and un-served communities at the convenience of their home town and a basic cost. Ujala Cygnus is also mobilising the community on various facets of health awareness through health/medical camps for rural outreach. Ujala Cygnus has been a pioneer and champion of the Ayushman Bharat PMJAY initiative. All Ujala Cygnus are NABH accredited andempanelled with prominent TPAs and government panels, including ESI, increasing their accessibility. Ujala Cygnus hospitals are currently present in 18 districts and five states of Northern India, reaching a population of over 5 crore people. In FY 22-23, Ujala Cygnus treated 3,42,656 inpatients and 4,59,891 outpatients and undertook 61,516 surgeries. Ujala Cygnus envisions expanding to the farthest corners of North India and institutionalising at least 30 units of medical excellence by 2025. The organisation is currently present in 5 states in North India, including Delhi, Jammu and Kashmir, Uttar Pradesh, Uttarakhand, and Haryana. In the near future, it plans to expand to Odisha, Bihar, Madhya Pradesh, Himachal Pradesh and Rajasthan.

    Year SEOY India Winners & Winning Organisation
    2023 Shuchin Bajaj, Ujala Cygnus
    2022 Aniket Doegar, Haqdarshak Empowerment Solutions
    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: In partnership with the World Economic Forum, the Schwab Foundation for Social Entrepreneurship convenes a global pioneering community of social innovators who seek to advance the field of social innovation towards more systemic change. The Schwab Foundation supports these changemakers’ efforts to collectively create a more just, equitable and sustainable world. The Schwab Foundation's Global Alliance for Social Entrepreneurship is the largest multi-stakeholder coalition in support of the social innovation sector. Its 110+ members represent over 100,000 social entrepreneurs and bring together a growing ecosystem of corporations, investors, philanthropists, governments, researchers, media, and industry actors.

    For more info please visit: www.schwabfound.org

    Follow the Schwab Foundation for Social Entrepreneurship on:
    LinkedIn: Schwab Foundation for Social Entrepreneurship
    Instagram: @schwabfoundation
    Facebook: https://www.facebook.com/schwabfound/

  • 30 January 2024

    Jubilant Ingrevia Limited - Q3 & 9M'FY24 Results

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

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    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter and Nine Months ended December 31st, 2023. The Board of Directors at its meeting held on 30th, January, 2024 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 the stable business performance for Q3 amidst the continued challenging market condition.

    We are also glad to share that the Board has recommended an interim dividend of 250% i.e.  Rs 2.50 per equity share of face value of Re 1 each for the FY’24. This shall result in cash outflow of Rs 39.8 Crore.

    The Agrochemicals sector, continued to witness sluggish volume pick up globally. Although we believe the inventory de-stocking is in its last leg, the broader challenges to the sector still prevail. Prices globally were under pressure due to excess Chinese supply, at very low prices. Consequently, the agrochemicals intermediate business was affected, both on volume and prices.

    In the Pharmaceutical end-use segment, we saw steady growth on a YoY basis, resulting in the healthy placement of volumes across the value chain and a stable price environment.

    In segments like Feed, Food, Cosmetics and FMCG, we successfully placed good volumes in the markets and maintained market share. However, pricing recovery was muted due to aggressive volume push by the competition.

    As we draw near to closing the financial year, we are hopeful and continue to have a view that the Agrochemicals segment will witness recovery from H1 of the next financial year. We anticipate signs of pickup in volume by the end of Q4 FY2024.

    As a key supplier to global agrochemical companies, we are confident of our role in managing the transition of supply chain sourcing away from China. We are witnessing continuous interest and inflow of inquiries from global agrochemical clients, where these inquiries are also graduating towards advanced stage discussions, and we are confident to meeting their long-term requirements in the times to come.

    We kept costs under control through lean initiatives on the input costs front. The energy costs were also reasonably maintained by sourcing coal at optimal prices and other efficiency and mix initiatives.

    Driven by robust domestic consumption, we expect the Indian market fundamentals to remain strong and fuel further growth for us.

    As we have remained on track towards investments in high-potential categories through our well-defined modular capex plan of Rs 2,000 Crore till FY 2025, we remain focused on delivering structured growth in future.”

    Q3 & 9M’FY24 Highlights | Segment Wise Analysis

    A. Speciality Chemicals

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    • Sluggish demand leading to lower volumes and prices in Agro end-use Products impacted margins significantly
    • However, positive traction on the following helped in holding margins at the current level:
      • Increased share of Pharma End-use customers and Improved product mix
      • Positive traction was observed from Diketene derivatives and the microbial control solutions business
      • Gradual and continued reduction in overall energy cost driven by softening of coal prices and better supply mix
      • Overall lower volumes, driven by lower demand for agrochemical end-use, led to pressure on margins
      • Share of Pharma End-use improved on a YoY and QoQ basis.
    • Overall, we added 38 new customers in the Speciality chemicals business.
    • Continued to accumulate new projects in the CDMO business. Looking at strategic partnerships with large global clients on the back of firm enquiries.
    • Under Microbial control solutions, the capacity of Pyrithiones is expanded to cater to increased demand. Witnessed continued healthy traction in Pyrithiones business; new customers and product approvals were added.
    • Commissioned Multi-purpose Agro Intermediate plant towards the end of Q3’FY24. Further, another Agro Active/ Intermediate plant is to be commissioned in Q4’FY24. 
    • Diketene plant operated at optimum capacity. The planned expansion of Diketene derivatives to launch 2 more products is on track. Commissioning to take place in Q4’FY24.

    B. Nutrition & Health Solutions

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    • Revenue & EBITDA grew on a YoY basis, primarily led by improved demand and price recovery in major products.
    • On a QoQ basis Revenue & EBITDA declined on account of lower prices due to Chinese competition.
    •  Nutrition & Health Ingredients (NHI) business witnessed improved demand from Food segment end-use on QoQ and YoY basis. Acquired 12 new customers during the quarter.
    • Animal Nutrition & Health Solution (ANHS) business, witnessed demand traction in premixes especially in Mineral premixes, Emulsifiers, and Chromium & Herbal formulations
    • ANHS continued focus on increasing market share in Feed segment, acquired 17 new customers during the quarter.
    • Prioritising improved share from customers in niche segments i.e. Cosmetics and Food grade resulted in improved volume and revenue from the segment.
    • Capex for GMP compliant facility for Food & Cosmetic grade Niacinamide is expected to commission in Q2 of FY25.
    • We are working towards the detailed plan for scaled capex for enhancing capacity for Choline & Specialty Premix products and food grade Vitamin B4.

    C. Chemical Intermediates Segment

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    • Revenue and EBITDA for the segment were impacted YoY because of lower realisation in Acetic Anhydride and lower demand and realisations in Ethyl Acetate.
    • New global scale, the Acetic Anhydride plant at Bharuch stabilized and operated at optimal utilization level.
    • Added 27 new customers during the quarter.
    • Maintained market leadership for the Acetic Anhydride in domestic as well as International markets.
    • Improved share of domestic sales on YoY and QoQ basis
    • Promoting sales with small Indian Manufacturers to augment domestic market share with value added product sales.
    • Continued focusing on volumes-based contract with global customers, towards scaling-up volumes.
    • Lower demand in Ethyl Acetate continued during the quarter.

    D. Income Statement – Q3 & 9M’FY24

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    All figures are in Rs Crore unless otherwise stated.

    E. Segment P&L – Q3 & 9M’FY24

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    F. Key Ratios

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    • Decrease in Net Debt was on account of working capital release driven by lean initiatives.
  • 30 December 2023

    Jubilant Ingrevia Limited Commissions Mutipurpose Agro Intermediate Plant for Value Added Derivatives

    Jubilant Ingrevia Limited today announced the commissioning of its state-of-the-art multipurpose agro intermediate plant to produce value-added derivatives at its manufacturing facility at Bharuch, Gujarat.  

    Jubilant Ingrevia Limited today announced the commissioning of its state-of-the-art multipurpose agro intermediate plant to produce value-added derivatives at its manufacturing facility at Bharuch, Gujarat.  The plant aims to cater to the growing demand of agro intermediates across the globe.

    Speaking on the occasion, Mr. Deepak Jain, CEO & Managing Director, Jubilant Ingrevia Limited said,

    “We are delighted with the commissioning of our new multipurpose agro intermediate plant. This aligns with our key strategy to shift structurally towards value-added agrochemicals business. Our deep expertise in offering solutions to our global customers using multistep chemistries has led us to become a partner of choice for our global agrochemical customers, including innovators. The inauguration of this state-of-the-art facility demonstrates our commitment to expand our business towards more value-added agro intermediates.”

    This plant can synthesise a variety of agro intermediates for the global supply of several agro actives. The Company has developed cost-competitive value added products by using captive raw materials based on its completely backward integrated Pyridine capability, where it holds global leadership position.

    Jubilant Ingrevia Limited continues to remain committed towards the introduction of key agro intermediates with a focus on ESG aspects, helping its strategic partners to address their journey towards carbon footprint reduction.

    The Company is already synthesising several agro intermediates in its facility at Bharuch, Gujarat and this new plant will help in expanding its presence further in the agrochemicals space.

  • 01 November 2023

    Jubilant Ingrevia Limited - Q2 & H1'FY24 Results

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

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    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter and half year ended September 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 business performance in Q2 & H1 of FY24, amidst the challenging market conditions.

    In the Agrochemical sector we have witnessed reduced volumes of the actives in the global market due to continued de-stocking of inventory. Globally prices are depressed due to increased supply from China at very low prices since the lifting of Covid-19 restrictions. This has put pressure on our agrochemicals intermediate business on both volume and prices

    In the Pharmaceutical end-use segment, demand remains stable and we are witnessing good growth in our segments aligned to this sector.

    In segments like Food, Cosmetics and FMCG, demand for our products remain strong. In these segments we are present through our Vitamins and other ingredients.

    Going forward, we strongly believe that Agrochemicals segment should improve from H1 next year with some green shoots by the end of Q4 FY2024. We remain confident of serving the Agrochemical sector with international agrochemical companies trying to diversify their supply chain with China plus one strategy. We are seeing many new enquiries and are currently under discussions with a few of the agrochemical companies for meeting their long-term requirements. We will continue to invest in this sector in view of the advanced discussions with some of our customers.

    We continue to focus on the Pharmaceutical sector with both existing as well as new clients in order to increase our presence.

    We will increase our presence through supply of ingredients in Food and Cosmetics sector from the investments already underway.

    On the input costs front, we have witnessed softening of coal prices during the quarter leading to improvement in energy cost.

    Indian market fundamentals remain strong with growth driven by domestic consumption across sectors, except for agrochemicals sector which is undergoing tough challenges in line with the global trends.

    We remain committed to deliver structured growth in future in line with our defined capex plan.”

    Q2 & H1’FY24 Highlights | Segment Wise Analysis

    A. Speciality Chemicals

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    • Registered overall EBITDA growth and improvement in Margins owing to better product mix and higher sales contribution from Pharma, Consumer & Industrial end-use, including CDMO customers.
    • CDMO business witnessed positive traction during the quarter. New projects added, which are currently in the early phase pipeline. Getting enquiries from large global customers across Pharma, Agrochemicals & Semiconductors for strategic partnership.
    • Good momentum observed in Diketene range of derivatives. Plant operated at optimum capacity.
    • Launched 2 new forward integrated derivative products. Pipeline of another 7-8 products under advance stage of development and commercialization.
    • Under Microbial control solutions, healthy traction in Pyrithiones business coming from Paints and Coatings end usage.
    • Agro active/Intermediate plant is expected to roll out as per schedule, to be commissioned in Q4 FY’24.
    • Expansion of Di-ketene Derivatives is in progress. Commissioning expected towards end of FY 2024.
    • Production capacity of Pyrithiones augmented at Ambernath facility for ZPTO Active manufacturing.

    B. Nutrition & Health Solutions

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    • Nutrition & Health Ingredients (NHI) business witnessed stable demand and improved pricing in Niacinamide.
    • Animal Nutrition & Health Solution (ANHS) business gained growth in volumes and continues to focus on Speciality products for future growth. Healthy traction witnessed in premixes especially in Mineral premixes, Emulsifiers, and Chromium & Herbal formulations
    • Continued focus on improving volumes and share from customers in niche segments i.e. Cosmetics and Food grade.
    • Capex for GMP compliant facility for expansion of Food grade Vitamin B4 is in final stages of planning.
    • Enhancement of capacity for Choline & Specialty Premix products to cater to the improved demand is also under planning.

    1. All figures are in Rs Crore unless otherwise stated

    C. Chemical Intermediates Segment

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    • Newly commissioned global scale Acetic Anhydride plant at Bharuch stabilized during the quarter.
    • Business strengthened its market leadership for Acetic Anhydride in domestic as well as International market.
    • Volume based contract with Global customers, towards scaling-up volumes in future.
    • Witnessed realisation pressure in Acetic Anhydride on account of headwinds faced from Agrochemical end-use and paracetamol customers.
    • Our new product, Bio Acetic Acid is gaining acceptance as a sustainable food preservative by major brands in India and is under approval with global customers as well. FSSAI & FSSE 22000 certifications already received.

    D. Income Statement – Q2 & H1’FY24

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    E. Segment P&L – Q2 & H1’FY24

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    F. Key Ratios

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    • Increase in Net Debt mainly led by steady capex expenditure and higher working capital.
    • Higher working capital during the quarter is on account of decline in payables for earlier purchases, while fresh purchases were rationalised.
  • 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

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