Jubilant Ingrevia (JUBLINGREA) Q2 24/25 earnings summary

Executive summary

• Achieved healthy quarter-on-quarter and year-on-year growth, driven by specialty chemicals and nutrition & health solutions, supported by cost-saving measures and operational efficiencies.

• Global chemical markets are gradually improving, with steady demand in pharmaceuticals and signs of recovery in agrochemicals, especially pyridine-based products.

• Signed a major five-year, $300M+ CDMO contract with a multinational agro innovator, with production to commence late next calendar year after plant modifications.

• Bharuch facility recognized as a Global Lighthouse by the World Economic Forum for digital transformation and ESG leadership.

• Focus remains on customer centricity, operational efficiency, and margin improvement, with a vision to triple revenue and quadruple EBITDA by FY29.

Financial highlights

• Q2 FY25 revenue reached INR 1,045 crore, up from INR 1,020 crore in Q2 FY24, mainly due to growth in specialty chemicals and nutrition segments.

• EBITDA for the quarter was INR 135 crore (12.9% margin), up 13% sequentially and 7% year-on-year.

• PAT for the quarter was INR 59 crore, up 21% QoQ and 3% YoY; half-year PAT at INR 108 crore.

• Export share rose to 48% in Q2 FY25 from 38% in Q2 FY24, with exports growing 30% year-over-year, led by the EU and Japan.

• EPS for Q2 FY25 at INR 3.7, up 21% QoQ and 2.5% YoY.

Outlook and guidance

• Expect sequential improvement in Q3 and Q4, with H2 FY25 projected to outperform H1 FY25.

• Focus on leveraging new plants, operational efficiency, and customer engagement to drive margin improvement.

• Pinnacle 345 vision targets tripling revenue and quadrupling EBITDA by FY29, with FY24 as the base year.

• Continued investment in renewable energy to meet power needs and sustainability goals.