Specialty chemical company Jubilant Ingrevia Ltd reported a 15.5% drop in net profit for the first quarter ending June 30, 2024, at ₹48.7 crore, compared to ₹57.6 crore in the same quarter last year. The company’s revenue from operations fell 4.7% to ₹1,024.3 crore from ₹1,075 crore in the previous fiscal’s corresponding period.
At the operating level, EBITDA decreased by 6.3% to ₹109.5 crore, down from ₹116.8 crore a year ago. The EBITDA margin slightly declined to 10.7% from 10.9%. The company announced that its Bharuch manufacturing facility successfully completed a US FDA inspection with no observations. This facility produces nutraceuticals and dietary active ingredients.
Chairman Shyam S. Bhartia and Co-Chairman Hari S. Bhartia highlighted rising demand in the pharmaceutical segment and significant growth in North America, Europe, and Japan. They also noted steady pricing and improving demand for some products but acknowledged ongoing pressure on the acetyl segment due to lower demand from the paracetamol sector.
Jubilant Ingrevia is a leading Indian company that specializes in producing specialty chemicals and life science ingredients. It focuses on various sectors, including pharmaceuticals, agrochemicals, and food additives. The company is known for its strong emphasis on innovation and sustainability, developing high-quality products to meet customer needs.
With state-of-the-art manufacturing facilities and a commitment to research and development, Jubilant Ingrevia aims to expand its market presence both in India and internationally. Its robust supply chain and strategic partnerships enable it to serve a diverse range of industries effectively.
