57th ICC AWARDS PRESENTATION FOR THE YEAR 2021
We are proud to share that Jubilant Ingrevia Limited has been awarded for “Excellence in Human Resource Management in the Chemical Industry” and ICC- Epsilon carbon CERTIFICATE of MERIT for the “BEST COMPLIANT COMPANY FOR THE PRODUCT STEWARDSHIP CODE” under RESPONSIBLE CARE with Citations by ICC, an apex body representing all branches of chemical industry in India and has been dedicated to the growth of Indian Chemical Industries since 1938.
The ICC annual awards 2021 recently held in Mumbai, witnessed the who’s who from chemical industry and government dignitaries. Mr. Vijay Srivastava – Chief Operating Officer, Vinita-Head of HR and Sivakumar-Head of Quality and Regulatory Affairs of Jubilant Ingrevia Limited received the awards from Mr. Arun Baroka IAS, Secretary-DCPC, Minstry of Chemicals and Fertilizers, Mr. Susanta Kumar Purohit, Jt. Secretary-DCPC, Govt. of India and Leadership of ICC.
Jubilant Ingrevia-Q2 & H1'FY23 Results
The Board of Jubilant Ingrevia Limited met on October 20, 2022 to approve financial results for the quarter ended September 30th, 2022.
Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman, Jubilant Ingrevia Limited said:
“We are pleased to announce stable operational and financial performance during the quarter under review, despite continuing headwinds on account of higher energy costs during the current financial Year.
Our Specialty Chemicals Business revenue grew by 63% YoY, on account of better demand across all products within the segment. Margins are impacted mainly on account of higher cost of energy due to restriction on contracted coal supplies. While we expect the coal supply to normalize soon, we also continue to explore alternate energy solutions for future.
In Nutrition & Health Solution business flu situation in US and Europe is normalizing, however demand of Vitamin B3 continue to be suppressed owing to post flu impact and excess inventory across the value chain. Our focus on niche segments like Food & Cosmetics is showing positive results and we continue to increase our revenue share in this segment. We also believe that the demand challenges of Vitamin B3 are short term. We continue to improve market share in our Animal nutrition business of Vitamin B4 and other Branded Premix products.
Our Chemical Intermediates Business continue to witness strong demand resulting in volume growth. Business continues to improve its leadership position in Acetic Anhydride in domestic and international market. Revenue impact on YoY basis was primarily driven by lower prices of feed stock leading to lower sales prices of Ethyl Acetate and Acetic Anhydride.
We believe Jubilant Ingrevia Limited is well-positioned to deliver robust growth in the future backed by its comprehensive growth plan for its growth projects. The performance in the coming quarters will be driven by higher share from Specialty Chemicals where Company is scaling its capacity and capability, Nutrition and Health Solutions where the Company is enhancing its value-added range of products and in Chemical Intermediates segment where our core emphasis is on enhancing healthy volume contributions”.
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