The Board of Jubilant Ingrevia Limited met on Nov 1, 2023 to approve financial results for the quarter and half year ended September 30th, 2023.
Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, CoChairman, Jubilant Ingrevia Limited said:
“We are pleased to announce stable business performance in Q2 & H1 of FY24, amidst the challenging market conditions. In the Agrochemical sector we have witnessed reduced volumes of the actives in the global market due to continued de-stocking of inventory. Globally prices are depressed due to increased supply from China at very low prices since the lifting of Covid-19 restrictions. This has put pressure on our agrochemicals intermediate business on both volume and prices In the Pharmaceutical end-use segment, demand remains stable and we are witnessing good growth in our segments aligned to this sector. In segments like Food, Cosmetics and FMCG, demand for our products remain strong. In these segments we are present through our Vitamins and other ingredients. Going forward, we strongly believe that Agrochemicals segment should improve from H1 next year with some green shoots by the end of Q4 FY2024. We remain confident of serving the Agrochemical sector with international agrochemical companies trying to diversify their supply chain with China plus one strategy. We are seeing many new enquiries and are currently under discussions with a few of the agrochemical companies for meeting their long-term requirements. We will continue to invest in this sector in view of the advanced discussions with some of our customers. We continue to focus on the Pharmaceutical sector with both existing as well as new clients in order to increase our presence. We will increase our presence through supply of ingredients in Food and Cosmetics sector from the investments already underway. On the input costs front, we have witnessed softening of coal prices during the quarter leading to improvement in energy cost. Indian market fundamentals remain strong with growth driven by domestic consumption across sectors, except for agrochemicals sector which is undergoing tough challenges in line with the global trends. We remain committed to deliver structured growth in future in line with our defined capex plan.”
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Jubilant Ingrevia Limited Welcomes New CEO & MD!
Mr. Deepak Jain joined as the new CEO & Managing Director of Jubilant Ingrevia Limited, on October 1, 2023. Bringing with him a wealth of experience Deepak has had a stellar track record in the chemicals business space. With a career spanning 18 years and being an IIT Delhi and IIM Ahmedabad alumnus, Deepak has successfully led and transformed companies through innovation and delivered growth & profitability. His insights and perspectives will add immense value to the organisation. Deepak has numerous accolades to his name including the prestigious 'ET 40 under forty' and Fortune India's '40 under 40'.
In his first message to the employees of Jubilant Ingrevia, he stressed on the following six core pillars for the Company’s growth roadmap:
- Customer Centricity
- Safety as front and center
- Innovation and Technology
- Digitally-enabled, world-class operations
- Environmental, Social, and Governance (ESG) and
- People Focused
We welcome him wholeheartedly and look forward to achieving new heights of growth under his leadership.
CEO & MD’s visit at Bharuch Manufacturing Facility
Deepak Jain, CEO & MD, Jubilant Ingrevia LImited recently visited our Bharuch manufacturing facility. Apart from visiting the various plants he also interacted with employees from several departments. He also rewarded employees of Unit 1, Unit 2 & Unit 4 shop floors for their performance. Sharing a few glimpses of his visit.
Jubilant Ingrevia Limited @CPhI WW 2023
Team Jubilant Ingrevia Limited participated in the CPhI World Wide Exhibition 2023 held at Fira Barcelona Gran Via, Spain between 24 - 26 October 2023. Representatives from various businesses participated in the exhibition and interacted with prospective customers and other important stakeholders. They presented the full spectrum the Company’s products, helping visitors discover innovative solutions, discuss bespoke services and established new business contacts.
