Jubilant Ingrevia – Q1’FY23 Results
The Board of Jubilant Ingrevia Limited met on August 5, 2022 to approve financial results for the quarter ended June 30, 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.
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FSSAI (Food Safety and Standards Authority of India)
Jubilant Ingrevia Limited has received the FSSAI (Food Safety and Standards Authority of India) License on 31st July, 2022, for manufacturing & supply of Acetic Acid, Glacial, 99.85%, Food Grade at our Gajraula facility.
It is introducing Acetic Acid, Glacial, 99.85%, Food Grade (Renewable, Bio-based Acetic Acid), manufactured from natural feedstock of fermented sugars. This provides a healthier option for your food preservative requirement as compared to Petroleum Route Acetic Acid, which is manufactured from Methanol, a known carcinogenic and poisonous substance.
Food grade Acetic Acid is the main component of commonly found household preservative called Vinegar. Apart from Vinegar it is widely used as a preservative in a variety of food applications ranging from ketchup to breads.
This Food Grade Acetic Acid is manufactured at a state of the art facility of Jubilant Ingrevia Limited, qualifying to all relevant product certifications like ISO 22000, Kosher, Halal, FCC codex and more.
It is using a renewable natural feedstock, this food grade Acetic Acid will be free from harmful heavy metals and other carcinogenic substances therefore providing a safer and natural alternative to the food sector across the world
Food Applications of Acetic Acid, Glacial, 99.85%, Food Grade are as follows-
- Sauces and ketch up
- Vinaigrettes & Marinades
- Canned Fruits and other food products
- Pickles
- Mayonnaise
- Gherkins
- Bread and Bakery preservative
SEOY Award India 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 recently announced the finalists of the 13th Social Entrepreneur of the Year Award 2022. 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 models in society. 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.
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RDT (Research Development and Technology) Meet 2022
A two day RDT meet was held on 28-29 of July, 2022 at R&D-2, Noida. The meet was attended by 70 attendees including our in-house scientists and the senior management. Scientists shared their knowledge and learnings related to various projects. Technical sessions by external scientific experts from reputed academic institutions such as IITs were also held. External speakers shared their knowledge on topics like Industrial Synthesis and catalysis, Process intensification etc. Emeritus Professor of Eminence and Padma Shri recipient Dr G. D Yadav also shared his expertise on new trends in the manufacturing of Speciality & Fine Chemicals. It was a great learning and brainstorming session