On a consolidated basis, Jubilant Ingrevia's net profit stood at Rs 54.36 crore while total revenue from operations was at Rs 684.13 crore in Q4 March 2021.
During the quarter, consolidated profit before tax stood at Rs 77.39 crore.
On a pro-forma basis, the company's net profit surged 98% to Rs 95 crore on 30.98% rise in total revenue from operations to Rs 1,078 crore in Q4 March 2021 over Q4 March 2020. EBITDA grew 100.99% to Rs 203 crore in Q4 FY21 as against Rs 101 crore in Q4 FY20. EBITDA margin improved to 18.8% during the quarter compared with 12.3% during the corresponding quarter last year.
Speaking on the company's performance, Shyam S Bhartia, chairman and Hari S Bhartia, co-chairman of Jubilant Ingrevia, said: "We are glad to announce that we performed well during FY21. Despite the COVID-19 related challenges, we reported significant growth in our revenue, EBITDA and PAT in FY21. All our sites remained operational throughout the pandemic and initiatives were taken to mitigate COVID-19 impacts. Supplies of raw material, availability of logistics were ensured for uninterrupted servicing of our customers and strict COVID-19 protocols were followed at all our sites and offices for safety of our employees."
"We also take this opportunity to thank all our employees who have worked tirelessly across all our plants and offices to ensure continuity in company's operations, while continuing to serve our global customers. Demand scenario in all our business segments continue to be strong. The company has established strong levers of growth to deliver superior performance over the medium term. As communicated to you earlier during our last communication, all growth plans are going on track and our FY22 capex investment is estimated to be in range of Rs 300-350 crore. The team is continuing to work towards meeting the plans. The company reduced its net debt by Rs 594 crore during FY21 and expects to reduce it further over the coming year."
During the financial year, the revenue growth was primarily driven by growth in volume and pricing together with capex amounting to Rs 122 crore in FY21. The company witnessed a significant deleveraging. Gross debt reduced by Rs 747 crore in FY21 while the net debt reduced by Rs 594 crore during FY21.
For its business outlook, Jubilant Ingrevia, in its exchange filing, said: "Demand scenario in all our business segments continue to be strong. Given the strong demand and new customer acquisition, we believe COVID-19 is not likely to have a material impact on our overall performance, provided the pandemic situation does not materially deteriorate going forward."
"Demand for our speciality chemicals and nutrition and health solutions segment continues to be stable. Our new project i.e. first phase of Diketene derivatives is on track. In our life science chemicals business, Acetic Anhydride market situation continue to be favorable on account of higher demand and lower availability due to restricted production out-put in certain part of the world."
"As communicated during investor call in March 2021, all our growth plans including new capex investments are on track and our FY 2022 capex investment is estimated to be in range of Rs 300-350 crore. During last year company has reduced the net debt by Rs 594 crore. The company continues to focus on debt reduction."
Meanwhile, the board of the company on 7 June 2021, recommended a dividend of Rs 0.35 per equity share for the year ended 31 March 2021.
Jubilant Ingrevia is a global integrated life science products and innovative solutions provider serving pharmaceutical, nutrition, agrochemical, consumer and industrial customers with customised products and solutions that are innovative, cost-effective and conforming to excellent quality standards. The company offers a broad portfolio of high quality ingredients that find application in a wide range of industries. The company has 2,100 employees and serves more than 1,400 customers in more than 50 countries across the world. The company's portfolio also extends to custom research and manufacturing for pharmaceutical and agrochemical customers on an exclusive basis.
Shares of Jubilant Ingrevia skid 2.08% to Rs 576.80 on BSE. The stock hit an intraday low of Rs 561.90 and an intraday high of Rs 611.90 so far.
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