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 in 2024, with steady demand in pharmaceuticals and early signs of recovery in agrochemicals.

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

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

• Board approved unaudited standalone and consolidated financial results for the quarter and half-year ended 30 September 2024.

Financial highlights

• Q2 FY25 consolidated revenue reached INR 1,045 crore (₹104,524 lakhs), up from INR 1,020 crore (₹101,994 lakhs) in Q2 FY24, mainly due to growth in specialty chemicals and nutrition segments.

• EBITDA for the quarter was INR 135 crore (12.9% margin), a 13% sequential and 7% year-on-year increase, driven by margin improvements and cost optimization.

• PAT for the quarter was INR 59 crore (₹5,900 lakhs), up from INR 57 crore (₹5,749 lakhs) in Q2 FY24.

• Export share rose to 48% in Q2 FY25 from 38% in Q2 FY24, with exports growing 30% year-over-year.

• Net debt reduced to INR 650 crore, with net debt/EBITDA at 1.4x (TTM basis).

Outlook and guidance

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

• Committed to the Pinnacle 345 vision: triple revenue and quadruple EBITDA by FY29, with FY24 as the base year.

• Company invested in renewable energy to meet growing power needs and sustainability goals.