JUBILANT INGREVIA LIMITED’s– Q3 & 9M‘FY23 FINANCIAL RESULTS
The Board of Jubilant Ingrevia Limited met recently to approve financial results for the quarter ended December 31st, 2022.
Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman, Jubilant Ingrevia Limited Shared on the Announcement:
'We are pleased to announce stable performance during the quarter under review, amidst the continuing headwinds of higher energy costs and challenging global market situation. We are also glad to share that the Board has recommended interim dividend of 250% i.e. Rs 2.50 per equity share of face value of Re 1 each for the FY’23. This shall result in cash outflow of Rs 39.8 Crore. We are pleased to inform that our Specialty Chemicals Business revenue grew by 34% YoY and absolute EBIDTA grew by 15% YoY driven by higher volumes and improved price realization. In Nutrition & Health Solution business the demand of Niacinamide (Vitamin B3) continue to be subdued impacting our price realization though we have improved our volumes sequentially.
The flu situation in EU and US regions is still continuing, though the situation is improving in EU region. The demand related challenges of Vitamin B3 are short-term and we continue to remain focused towards improving our presence in food and cosmetics segment. In Chemical Intermediates Business the revenue on YoY basis is impacted due to lower prices of feed stock (Acetic Acid), leading to lower sales prices of Acetic Anhydride and Ethyl Acetate. However, we continue to improve our volumes and market share of Acetic Anhydride globally. The company has firm plans to significantly reduce overall energy cost in phased manner through various initiatives by sourcing power from Grid and renewable sources, optimizing coal consumption through efficiency improvement in consumption as well as in generation. We continue to focus on our growth plans through new products and platforms and we are committed to deliver robust growth in the future.'
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