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Specialty Chemicals company Jubilant Ingrevia announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Total Revenue for Q4FY24 was Rs 1,074 crore, marking an 11% increase from Q3FY24 but a 6% decrease from Q4FY23.
- Total EBITDA decreased to Rs 101 crore, down by 4% from Q3FY24 and 9% from Q4FY23.
- EBITDA Margin for Q4FY24 stood at 9%, showing a decline compared to 11% in Q3FY24.
- Profit After Tax (Before One Time Transition Mat Credit Write-off) increased to Rs 42 crore, reflecting an 8% increase from Q3FY24 but a 20% decrease from Q4FY23.
- Profit After Tax Margin for Q4FY24 was 4%, remaining unchanged from Q3FY24 but decreasing from 5% in Q4FY23.
- Published Profit After Tax dropped to Rs 29 crore, a 24% decrease from Q3FY24 and a 44% decrease from Q4FY23.
- Published Profit After Tax Margin was 3% in Q4FY24, down from 4% in Q3FY24 and 6% in Q4FY23.
- Basic and Diluted EPS (Rs.) for Q4FY24 stood at 1.8, indicating a 24% decrease from Q3FY24 and a 44% decrease from Q4FY23.
FY24 Financial Highlights:
- Total Revenue for FY24 amounted to Rs 4,136 crore, reflecting a 13% decrease compared to FY23.
- Total EBITDA for FY24 was Rs 456 crore, down by 21% from FY23.
- EBITDA Margin for FY24 remained at 11%, consistent with FY23.
- Profit After Tax (Before One Time Transition Mat Credit Write-off) for FY24 was Rs 195 crore, showing a 36% decrease from FY23.
- Profit After Tax Margin for FY24 was 5%, consistent with FY23.
- Published Profit After Tax for FY24 was Rs 183 crore, indicating a 41% decrease from FY23.
- Published Profit After Tax Margin for FY24 decreased to 4% from 6% in FY23.
- Basic and Diluted EPS (Rs.) for FY24 stood at 11.6, reflecting a 40% decrease from FY23.
Commenting on the Company’s performance, Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, CoChairman, Jubilant Ingrevia said: "We are pleased to announce stable business performance for Q4 amidst the continued challenging market conditions.
Dividend declaration:
We are glad to share that the Board has recommended a final dividend of 250% i.e. Rs 2.50 per equity share of face value of Re 1 each for the FY’24. This shall result in cash outflow of Rs 39.8 Crore. During the year company has already declared an interim dividend of 250% i.e. Rs 2.50 per equity share of Rs 1 each and the total dividend for FY’24 works out to be 500% i.e. Rs 5 Per equity share of Rs 1 each amounting to Rs 79.8 Crore of Cash outflow.
Capacity addition: New product lines at Bharuch (Agro actives & Intermediate), Gajraula (Diketene derivatives)
We are also pleased to share that during the quarter, we commissioned our multipurpose Agro Active & Intermediate Plant at Bharuch facility. This plant would strengthen our capacity and capability to produce forward integrated, high potential Agro Actives & Intermediates, through long-term contractual arrangements with our customers.
In addition to that, we also commissioned a plant for new Diketene Derivatives in Gajraula facility which will further enhance our Diketene product portfolio. Commissioning of these plants is in line with our stated strategy of further strengthening of our Speciality Chemicals product portfolio."
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