Press Releases

  • 15 September 2022

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

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

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

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

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

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

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

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

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

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

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

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

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

    About the winner:

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

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

    Note to the Editors:

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

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

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

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

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

  • 25 August 2022

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

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

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

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

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

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

    3. Aniket Doegar
    Haqdarshak, www.haqdarshak.com

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

    5. Meera Shenoy
    Youth4Jobs, www.youth4jobs.org

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

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

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

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

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

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

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

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

    Meet the Finalists:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    About Us

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

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

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

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

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

     

  • 05 August 2022

    Jubilant Ingrevia – Q1’FY23 Results*

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

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

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

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

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

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

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

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

    Q1’FY23 Highlights

    A. Consolidated

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

    Segment Wise Analysis

    B. Speciality Chemicals

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

    C. Nutrition & Health Solutions

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

    D. Chemical Intermediates Segment

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

    E. Business Outlook & Growth Capex Plans

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

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

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

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

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

    H. Income Statement – Q1’FY23

    1. All figures are in Rs Crore unless otherwise stated

  • 17 May 2022

    Jubilant Ingrevia – Q4 & FY22 Results*

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

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

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

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

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

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

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

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

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

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

    We are also glad to share that the Board has recommended a final dividend of 250% i.e.  Rs 2.5 per equity share of face value of Re 1 each for the FY’22. This shall result in cash outflow of Rs 39.8 Crore.  During the year company has already declared an interim dividend of 250% i.e. Rs. 2.5 per equity share of Rs 1 each and the total dividend for FY’22 works out to be 500% i.e Rs 5.0 Per equity share of Rs 1 each amounting to Rs 79.6 Crore of Cash outflow.

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

    Q4’FY22 Highlights

    A. Consolidated

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

    Segment Wise Analysis

    B. Speciality Chemicals

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

    C. Nutrition & Health Solutions

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

    D. Chemical Intermediates Segment

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

    FY22 Highlights

    E. Consolidated

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

    Segment Wise Analysis

    F. Speciality Chemicals

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

    G. Nutrition & Health Solutions

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

    H. Chemical Intermediates Segment

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

    I. Business Outlook & Growth Capex Plans

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

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

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

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

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

    L. Income Statement – Q4 & FY22

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

    Jubilant Ingrevia Limited Commissions New Green Ethanol Based Acetic Acid Plant

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

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

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

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

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

  • 15 April 2022

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

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

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

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

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

  • 04 April 2022

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

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

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

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

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

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

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

    Benefits to winners through a three-year core programme:

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

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

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

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

  • 16 February 2022

    Jubilant Ingrevia Limited Commissions New Facility for Diketenes and Derivatives

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

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

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

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

  • 01 February 2022

    Jubilant Ingrevia – Q3 & 9M’FY22 Results*

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

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

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

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

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

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

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

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

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

    Q3’FY22 Highlights

    A. Consolidated

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

    Segment Wise Analysis

    B. Speciality Chemicals

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

    C. Nutrition & Health Solutions

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

    D. Life Science Chemicals Segment

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

    Nine Months’FY22 Highlights

    E. Consolidated

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

    Segment Wise Analysis

    F. Speciality Chemicals

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

    G. Nutrition & Health Solutions

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

    H. Life Science Chemicals Segment

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

    I. Business Outlook

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

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

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

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

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

    Income Statement – Q3 & Nine Months’FY22

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

    Jubilant Ingrevia – Q2 & H1’FY22 Results*

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

    tb1

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

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

    “With immense pleasure, I would like to announce that we have delivered yet another strong financial performance in Q2’FY22 and reported our highest ever revenue during the Quarter & Half Year ended 30th Sept’21.

    Supply disruptions from China is coming to our advantage, due to which we are witnessing strong demand in most of our products and that is giving us an opportunity to increase our share with the global customers, while on the sourcing side we are having negligible dependence on China. We are finding unprecedented increase in almost all the input raw materials, fuels like Coal & Gas & Logistic cost, however our business team is confident to pass on the incremental costs by working closely with customers

    In our Specialty Chemicals segment we witnessed strong growth across the products led by growing demand from Pharmaceutical and Agrochemical customers. In Nutrition & Health Solution the demand of Vitamin B3 has been stable, and prices started to increase in Vitamin B3. We continue to work to improve our market share in niche segments like food and cosmetics. In Life Science Chemical Segment, we witnessed healthy demand from Pharmaceutical and Agrochemical customers resulting in volume growth in all the products.

    I am happy to announce that we reduced the net debt further by Rs 193 Crore during Q2’FY22.

    Looking Ahead we are excited with the growth opportunities in our businesses and we are fully committed to realize them. We have developed strong product pipeline using in-house R&D, our technical expertise into various chemistry platforms and long-standing relationship with global Pharmaceutical & Agrochemical customers including Innovators. We are prioritizing and investing in several growth capex in next 2-3 years to launch these products to achieve our growth target of doubling the revenue by FY’26 from the base of FY’21.”

    Q2’FY22 Highlights

    A. Consolidated

    tb2
    • Revenue grew by 56% on YoY basis, driven by robust growth in volume and prices.
    • Speciality Chemicals revenue grew by 17% YoY driven by volume growth across product segments.
    • Nutrition and Health Solutions revenue grew by 43% YoY driven by higher volumes and growth in Niacinamide price.
    • Life Sciences Chemical revenue grew by 84% YoY, driven by higher prices on account of favorable market conditions and passing-on of higher input cost of acetic acid.
    • EBITDA at Rs 202 Crore, grew by 44%, on account of strong performance of Life Sciences chemical segment led by favorable market conditions and volume growth in Nutrition and Health Solution.
    • PAT grew by 43% YoY driven by growth in EBITDA, added by reduction in finance cost through reduction in Gross debt and optimization of Interest rates.
    • ROCE in H1’FY22 improved to 33.2% against 20.2% in FY21
    • ROE in H1’FY22 improved to 26.6% over 16.4% in FY21

    Segment Wise Analysis

    B. Speciality Chemicals

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

    C. Nutrition & Health Solutions

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

    D. Life Science Chemicals Segment

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

    H1’FY22 Highlights

    E. Consolidated

    tb6
    • Revenue grew by 56% on YoY basis, driven by robust growth in volume and prices.
    • Speciality Chemicals revenue grew by 18% YoY driven by volume growth across product segments.
    • Nutrition and Health Solutions revenue grew by 26% YoY driven by higher volumes and growth in Niacinamide price
    • Life Sciences Chemical revenue grew by 93% YoY, driven by higher prices on account of favorable market conditions and pass-on of higher input cost of acetic acid
    • EBITDA at Rs. 490 Crore, grew by 83% on account of strong performance of Life Sciences chemical segment led by favorable market conditions supported by Speciality Chemicals.
    • PAT grew by 115% YoY driven by growth in EBITDA, aided by reduction in finance cost on account of reduction in Debt and optimization of Interest rates.
    • ROCE in H1’FY22 improved to 33.2% against 20.2% in FY21
    • ROE in H1’FY22 improved to 26.6% over 16.4% in FY21

    Segment Wise Analysis

    F. Speciality Chemicals

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

    G. Nutrition & Health Solutions

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

    H. Life Science Chemicals Segment

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

    I. Business Outlook

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

    Income Statement – Q2 & H1’FY22

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

    Earnings Call details

    The company will host earnings call at 5.00 PM IST on

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

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

  • 07 October 2021

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

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

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

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

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

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

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

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

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

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

    About the winner:

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

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

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

    Note to the Editors:

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

    Learn more at www.schwabfound.org and follow on:
    Twitter: https://twitter.com/schwabfound
    Facebook: https://www.facebook.com/schwabfound/
    LinkedIn: https://www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship

  • 20 September 2021

    Four high-impact social entrepreneurs nominated as finalists of the ‘Social Entrepreneur of The Year’ Award - India 2021 By Schwab Foundation & Jubilant Bhartia Foundation.

    Noida, September 20, 2021 : The Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum and the Jubilant Bhartia Foundation, a not for profit organisation of Jubilant Bhartia Group today announced the finalists of the 12th Social Entrepreneur of the Year (SEOY) Award - India 2021.

    The following accomplished high-impact social entrepreneurs have been selected as finalists for the SEOY Award – India 2021:

    1. Aparna Hegde, ARMMAN; www.armman.org

    2. Seema Prem, FIA GLOBAL; www.fiaglobal.com

    3. Pranshu Singhal, KARO SAMBHAV; www.karosambhav.com

    4. Shuchin Bajaj, UJALA CYGNUS; www.ujalacygnus.com

    An eminent jury panel comprising industry stalwarts and distinguished personalities from different fields and backgrounds will select the final winner of the award.

    The winner of the ‘Social Entrepreneur of the Year’ Award - India 2021 will be announced in a virtual ceremony on Thursday, October 7th, 2021. The virtual award ceremony will be attended by various dignitaries from across the globe to celebrate and appreciate the exemplary contribution of these high spirited individuals.

    The SEOY Award aims to recognise promising and successful social entrepreneurs, who are key-enablers of inclusive growth addressing challenges in numerous areas with excellence in large-scale, system change models. The winner of the SEOY Award - India will join the world’s largest network of high-impact social enterprises affiliated with The Schwab Foundation for Social Entrepreneurship.

    The finalists of the SEOY Award – India 2021 are high-spirited transformational individuals selected through the stringent criterion of evaluation, based on several parameters, including COVID-19 response & efforts, background research, personal & on-ground team interactions, impact assessment, expert reviews and reference checks.

    The chosen finalists are tech-enabled experts working in fields of maternal and child health care, financial services inclusion of the underserved, circular economy (recycling of e-waste, plastic packaging waste), battery waste and glass and high-quality tertiary healthcare services to the under-privileged. Using ground-breaking innovation in their respective initiatives, these social entrepreneurs are bringing impact through the inventive use of technology, working on frameworks of Extended Producer Responsibility (EPR), development of AI powered Fintech platform, availability of low-cost super-specialty hospitals in tier-2 & tier- 3 cities of India.

    The SEOY Award – India 2021 opened for applications in March 2021 and received over 100 diverse submissions from 28 cities of India including 28 from women social entrepreneurs. The categories of the intervention included healthcare, clean technology, media communication, disability, energy, enterprise development, labour conditions, microfinance, nutrition, sustainable farming and water & sanitation.

    The SEOY Award - India has established itself as one of the most reputable awards for social entrepreneurs in India. This year the award celebrates its 12th year. In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India and has since recognised and supported the growing field of social innovation in India.

    Brief Descriptions of the Finalists:

    Dr Aparna Hegde from ARMMAN
    Founder and Managing Trustee
    Sector: Healthcare
    Established: 2008
    www.armman.org

    ARMMAN is a non-profit organisation that leverages technology to create cost-effective, scalable, non-linear, systemic solutions with proven impact to improve maternal and child health in the first five years. ARMMAN’s programs provide pregnant women/mothers with critical preventive information to improve health seeking behaviour. It also supports health workers and systems with technology-enabled comprehensive training.

    It adopts a ‘tech plus touch’ approach and leverages the health worker network of the Government and its partner NGOs along with the deep mobile penetration. It is currently implementing its ‘Kilkari’ (largest mobile-based maternal messaging program across the world) & ‘Mobile Academy’ program (largest health-worker training program globally), in partnership with the Ministry of Health and Family Welfare, Government of India. ARMMAN has also partnered with Google AI for Social Good for predictive analytics/AI and with Turn.IO to pilot WhatsApp as a health platform to improve maternal and child health.

    It has reached over 25 million women and children and 197,000 frontline health workers in 19 states of India with aims to reach 123 million women and children and 1 million health workers by 2030.

    Seema Prem from FIA GLOBAL
    CEO, Co-Founder
    Sector: Financial Services & Social Inclusion
    Established: 2012
    www.fiaglobal.com

    FIA is an impact ‘fintech’ organisation that redefines the way financial services are distributed to low income individuals in South Asia, particularly women. FIA’s AI powered Fintech platform - FINVESTA aggregates, designs and delivers sachet financial products to rural customers through its wide network of banking agents. With its distribution expertise it makes financial services more accessible, intuitive and indispensable to the underserved communities. Started to tap the ‘un-banked’ market in India.

    FIA today offers an umbrella of services at its inclusion centres which comprises of accounts, cash in/cash out, fund transfers global remittances, investment and protection products, credit and distribution of Government subsidies among others. These services are specially designed for women and women-owned businesses and other financially-excluded populations who live or work in un(der) served geographies. FIA’s local banking agents receive start-up and ongoing training and professional development services from FIA.

    FIA has one of the largest rural digital banking infrastructures serving 40 million customers through 30,000 inclusion centers. It aims to provide banking services to over 100 crore people across India, Nepal and Bangladesh.

    Pranshu Singhal from KARO SAMBHAV
    Founder
    Sector: Waste Management 
    Established: 2016
    www.karosambhav.com

    Karo Sambhav is a social enterprise, with an aim to make recycling a way of life for people.  It covers e-waste, plastic packaging waste, battery waste and glass and continues its exploration towards less scrutinised sectors like mattresses, textiles and tyres. Karo Sambhav collaborates with leading enterprises, strategic alliances and governments on ‘Circular Economy’ and ‘Extended Producer Responsibility’ (EPR) frameworks. Karo Sambhav utilises its core strengths of deep technical expertise, grassroots action, technology and systems thinking approach to create impact at scale.

    A critical aspect has been the successful integration of the informal sector with the EPR programmes as collection partners. This has resulted in the growth of over 200 formal businesses and a channelisation of USD 8.2 million in collective revenue, while creating new pathways of formal job growth.  Karo Sambhav has collected and enabled recycling of over 23,000 MT of e-waste and plastics waste in the past four years and has prevented 21,100 MT of CO2 emissions. It has directly engaged 3 million people in 60 cities in 29 states of India through its on-ground awareness programmes with over 3,000 schools and 500 organisations.

    Dr. Shuchin Bajaj fromUjala Cygnus Healthcare Services
    Founder Director
    Sector: Healthcare
    Established: 2011
    www.ujalacygnus.com

    Ujala Cygnus Group of Hospitals was established with an aim to address the tertiary healthcare needs of the poorest of the poor individuals. It aims to provide global standards of healthcare to the masses at affordable prices. It aims to do so by bringing the revolution of super-specialty tertiary health care facilities to tier-2 & tier- 3 cities of India. In addition, it also ensures free medicines and offers discounts on pharmacy, consultancies and surgeries to the economically weaker sections of the society. Ujala Cygnus also mobilises the community on various facets of health awareness hence contributing to healthcare equity. It conducts CMEs (Continuous Medical Education) programmes (over 4000 conducted) through its expert doctors to other medical practitioners (over 50,000 reached) in the community to create sustainable healthcare solutions.

    It is currently present in 14 districts and four states of India. Each day Ujala hospitals perform over 70 surgeries, provide consultation to over 650 patients and admit over 200 patients on an average. It plans to expand its presence to five new states in near future.

    Note to the Editors:

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

    Learn more at www.schwabfound.org and follow on:
    Twitter: https://twitter.com/schwabfound
    Facebook: https://www.facebook.com/schwabfound/
    LinkedIn: https://www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship

  • 20 July 2021

    Jubilant Ingrevia – Q1’FY22 Results*

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

    *Financial numbers for comparative periods are presented on Pro-forma basis to reflect continuing operations pre and post demerger as explained in Note 2 in the disclaimer.
    The Board of Jubilant Ingrevia Limited met today to approve financial results for the quarter ended June 30th, 2021.

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

    “With immense pleasure I would like to announce that we have started the FY22 with a very positive note by delivering our record quarterly financial performance so far. Along with managing COVID-19 related challenges, we reported highest ever quarterly Revenue and EBITDA during Q1’FY22.

    In our Specialty Chemicals segment we witnessed strong growth across product segments. In Nutrition & Health Solution segment, the demand grew across geographies. In Life Science Chemical Segment, we witnessed favorable market conditions leading to strong demand and improved product contribution.

    The Input cost continued to rise throughout the quarter and businesses are trying to pass on the cost increases. During the quarter we also witnessed an all-time high price of Acetic Acid which was passed-on successfully.

    I am pleased to inform that company’s growth projects are progressing as per plan.

    With our continuous endeavor to reduce leverage, we have further reduced the net debt by Rs 45 Crore in Q1’FY22

    During Second wave of Covid, we created a focused task force across our business units and locations to support our employees and their families. The efforts of the task force resulted in significant mitigation of Covid hardship for our people. We also take this opportunity to thank all our employees who have worked tirelessly across all our plants and offices to ensure continuity in company’s operations, while continuing to serve our global customers”.

    Q1’FY22 Highlights

    A. Consolidated

    Segment Wise Analysis

    B. Speciality Chemicals

    • Specialty Chemicals revenue grew by 18% on YoY basis driven by higher volume across product segments.
    • North America revenue grew significantly; percentage share to total revenue increased to 9% from 5% in Q1’FY21.
    • Domestic consumption has gone up and percentage share to total revenue increased to 41% from 33% in Q1’FY21.
    • Domestic sales for export increased to 11% from 6% in Q1’FY21.
    • Pharma, Consumer, Nutrition and Industrial demand has gone up.
    • EBITDA grew by 22% YoY. Margin improved at 27.7% vs 26.8% in Q1’FY21, driven by higher volumes and prices

    C. Nutrition & Health Solutions

    • Nutrition and Health Solutions revenue grew by 13% on YoY basis.
    • Growth was driven by prices and growth in Niacinamide volume.
    • Animal Nutrition and Health solution business also grew led by strong volume growth contributed by Choline Chloride and specialty products.
    • Consumption in EU and Japan has gone up significantly, and contribution percentage to revenue increased to 36% from 24% in Q1’FY21.
    • Feed and Cosmetics demand has gone up on YoY basis
    • EBITDA de-grew by 15% on YoY basis. EBIDTA Margin stood at 15.9% vs 21.0% in Q1’FY21, EBITDA margin lower by 5.2% mainly on account of continuing increase in input costs and along with discontinuation of export benefit (MEIS).

    D. Life Science Chemicals Segment

    • Life Sciences Chemicals revenue grew by 103% on YoY basis
      • Life Sciences Chemical revenue growth was driven by higher volume as well as prices.
      • Prices improvement was mainly on account of favorable market condition driven by lower operating rates of Acetic Acid in US and rest of the world and also on account of increase in the input cost of Acetic Acid.
    • Consumption in domestic sales for export has gone up significantly and its contribution percentage to revenue increased to 22% from 18% in Q1’FY21
    • Demand across all industry segments have grown.
    • EBITDA Margin stood at 27.3% compared to 7.1% in Q1’FY21. Growth in EBITDA margin was driven by
      • Improved product contribution driven by favorable market condition and Acetic Acid stock led benefit due to increase in prices.
      • Witnessed operating leverage across all the Life Sciences Ingredients plants, that operated at more than 90% capacity utilization.

    E. Business Outlook

    • Our businesses remain strong and during the year we expect to deliver better performance over last year.
    • The Input prices continue to increase and the efforts to pass on the increase are being made continuously Our ongoing Diketene Capex is as per schedule, and it will be commissioned during the quarter Oct to Dec 2021
    • Further during the year, we are committing investment worth Rs. 360 Crore for following growth capex. At peak capacity these investments are expected to generate additional annual revenue of Rs. 900 Crore at prevailing prices
      • CDMO GMP Facility at Bharuch. (Expected to be in operation during the quarter April to June 2022)
      • Two Multi-Purpose plants of Speciality Chemicals. (Expected to be in operation during the quarter April to June 2022)
      • Food Grade Acetic Acid. (Expected to be in operation during the quarter April to June 2022)
      • Acetic Anhydride Plant. (Expected to be in operation during the quarter Jan to March 2023)
      • Agro Actives Phase-1. (Expected to be in operation during the quarter Jan to March 2023)
    • Our expected capex cash outflow for the year will be in the range of Rs 350 crore.

    Income Statement – Q1’FY22

    • All figures are in Rs Crore unless otherwise stated
    • Q1’FY21 is derived from 3 month of discontinued operation of LSI segment of Jubilant Pharmova Limited on Pro-forma basis
    • EPS has been computed on combined profits assuming existence of share capital for full year.

    Earnings Call details

    The company will host earnings call at 5.00 PM IST on

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

    Replay: July 20 to July 27, 2021
    Dial-in: +91 22 7194 5757/ +91 22 66635757
    Playback ID: 68835#

  • 07 June 2021

    Jubilant Ingrevia – Q4* & FY21* Results (Pro-Forma2)

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

    *Financial numbers are on combined Pro-forma basis to reflect continuing operations pre and post demerger as explained in Note 1 & 2 in the disclaimer.

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

    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 that we performed well during FY21. Despite the COVID-19 related challenges, we reported significant growth in our Revenue, EBITDA and PAT in FY21. All our sites remained operational throughout the pandemic and initiatives were taken to mitigate COVID-19 impacts. Supplies of raw material, availability of logistics were ensured for uninterrupted servicing of our customers and strict Covid protocols were followed at all our sites and offices for safety of our employees.

    We also take this opportunity to thank all our employees who have worked tirelessly across all our plants and offices to ensure continuity in company's operations, while continuing to serve our global customers.

    Demand scenario in all our business segments continue to be strong. Company has established strong levers of growth to deliver superior performance over the medium term.

    As communicated to you earlier during our last communication, all growth plans are going on track and our FY'22 capex investment is estimated to be in range of Rs 300-350 Crore. The team is continuing to work towards meeting the plans.

    The Company reduced its net debt by Rs 594 Crore during FY21 and expects to reduce it further over the coming year."

    Q4'FY21 Highlights (Pro-forma2)

    A. Consolidated

    Segment Wise Analysis

    B. Speciality Chemicals

    • Speciality Chemicals revenue grew driven by growth in Fine chemical and new CDMO projects
    • Specialty Ingredient, Fine chemicals and Crop Protection chemicals grew in double digits through strong volume growth, driven by demand from Pharma, Agri and Nutrition customers
    • EBITDA Margin were slightly lower, mainly on account of discontinuation of export benefit (MEIS)

    C. Nutrition & Health Solutions

    • Growth in Nutrition & Health Solutions Revenue was led by volume growth
    • Animal Nutrition and Health solution business also grew in double digits due to strong volume growth contributed by Choline Chloride and Specialty products
    • EBITDA margins were lower, mainly on account of discontinuation of export benefit (MEIS)

    D. Life Science Chemicals Segment

    • Life Sciences Ingredients grew by higher double digit on YoY basis
    • Life Sciences Chemical revenue grew in double digits, driven by favorable market condition from Pharma, Packaging Industrial application from domestic as well as export Geography
    • Increase in cost has been passed on through price increase

    E. Consolidated

    • Revenue growth was primarily driven by growth in volume and pricing together
    • Capex of Rs 122 Crore in FY21
    • Witnessed significant deleveraging, Gross debt reduced by Rs 747 Crore in FY21
    • Net debt reduced by Rs 594 Crore during FY21. Net Debt to EBIDTA now stands at less than 0.7x
    • ROCE stood at 20.2% and ROE at 16.4%

    Segment Wise Analysis

    F. Speciality Chemical Segment

    • EBITDA Margin stood higher because of better product mix and higher margin in CDMO projects
    • Specialty Ingredient, Fine chemicals and Crop Protection chemicals grew in higher single digit through strong volume growth driven by demand from Pharma, Agri and Nutrition customers
    • CDMO revenue grew by new projects of Pharma and Agro

    G. Nutrition & Health Solutions Segment

    • Nutrition and Health Ingredients business grew in double digit on YoY basis, driven by robust price growth from favorable market conditions
    • Animal Nutrition and Health solution business grew in double digit on YoY basis, driven by volume growth contributed by Choline Chloride and Specialty products

    H. Life Science Chemicals Segment

    • Revenue growth in Life Sciences Ingredients business is contributed by double digit volume growth of Acetic Anhydride from Pharma and Agro segment and higher price driven by favorable market condition
    • Acetic Acid price remained flat in FY'21 vs FY20 on full year basis
    • Specialty Ethanol grew by higher single digit on YoY basis, driven by higher volume growth in Pharma and Industrial Alcohol segment
    • Life Sciences Chemical segments EBITDA margin stood higher on account of improved operating leverage and higher price in domestic as well export markets

    I. Business Outlook

    • Demand scenario in all our business segments continue to be strong
    • Given the strong demand and new customer acquisition, we believe COVID-19 is not likely to have a material impact on our overall performance, provided the pandemic situation does not materially deteriorate going forward
    • Demand for our Speciality Chemicals and Nutrition and Health Solutions Segment continues to be stable. Our new project i.e. first phase of Diketene derivatives is on track
    • In our Life Science Chemicals business, Acetic Anhydride market situation continue to be favorable on account of higher demand and lower availability due to restricted production out-put in certain part of the world
    • As communicated during investor call in March'21, all our growth plans including new capex investments are on track and our FY'22 capex investment is estimated to be in range of Rs 300-350 Cr
    • During last year company has reduced the net debt by Rs.594 Cr. Company continues to focus on debt reduction.

    Income Statement – Q4 & FY21 (Pro-forma2)

    • All figures are in Rs Crore unless otherwise stated
    • - Q4'FY21 is calculated from 1 month of discontinued operation of LSI segment of Jubilant Pharmova Limited and 2 months of Jubilant Ingrevia Limited

    - Q4'FY20 is calculated from 3 month of discontinued operation of LSI segment of Jubilant Pharmova Limited

    - FY21 is calculated from 10 month of discontinued operation of LSI segment of Jubilant Pharmova Limited and 2 months of Jubilant Ingrevia Limited

    - FY20 is calculated from 12 month of discontinued operation of LSI segment of Jubilant Pharmova Limited

    - EPS has been computed on combined profits assuming existence of share capital for full year.

    Earnings Call details

    The company will host earnings call at 5.00 PM IST on

    Participants can dial-in on the numbers below

    Primary Number: + 91 22 6280 1141 / + 91 22 7115 8042

    Local Access Number: +91-7045671221 (Available all over India)

    Toll Free Numbers:

    USA: 1 866 746 2133
    UK: 0 808 101 1573
    Singapore: 800 101 2045
    Hong Kong: 800 964 448
    Replay: February 07 to February 13, 2021
    Dial-in: +91 22 7194 5757/ +91 22 66635757
    Playback ID: 20733#

  • 31 March 2021

    Entries open for the 12th edition of the prestigious 'Social Entrepreneur of the Year (SEOY) - India Award 2021'

    Jubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship, the sister organization of the World Economic Forum, announces the opening of entries for the 12th edition of the annual competition - Social Entrepreneur of the Year (SEOY) India Award 2021.

    Noida, March 31, 2021: Jubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship, the sister organization of the World Economic Forum, announces the opening of entries for the 12th edition of the annual competition - Social Entrepreneur of the Year (SEOY) India Award 2021. In 2010 the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation joined hands to promote social innovation through the social entrepreneurship awards in India.

    • Social Innovation Takes Off in India: A total of over 1600 unique social innovation applications have been received in 11 years.
    • 11 years have seen a total of 523 women applications across India!
    • Women Change Makers: 7 out of 11 winners of the SEOY India award are women social entrepreneurs.
    • Turnover of participating social organisations range from Rs 1 million to Rs 600 million!
    • More stringent evaluation: Two new parameters for evaluation of social entrepreneurs – Market-based and Technology-enabled solutions added this year.
    • New Trends: In the recent years, sustainable farming and clean technology have emerged as new areas of social entrepreneurship

    The application entry for the Social Entrepreneur of the Year (SEOY) India Award 2021’ will be accepted till April 30, 2021. Interested candidates may submit the application form available at 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 2021 will be announced on October 7, 2021.

    The award recognizes individuals and organizations 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.

    The participating individuals and organizations 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 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 winner of SEOY India will join the world’s largest network of social enterprises affiliated with The Schwab Foundation for Social Entrepreneurship, to engage, build and sustain their social enterprises. The winner is awarded by a prominent chief guest in a magnificent ceremony every year.

    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.

    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 twenty years, the Schwab Foundation for Social Entrepreneurship has supported the world’s leading social entrepreneurs in their efforts to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation. Learn about us at www.schwabfound.org and follow us on Twitter: https://twitter.com/schwabfound

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