India Glycols Limited — PPTs, 21-05-2025: Investor Presentation

1. Financial Highlights:

India Glycols reported net revenue of ₹863 Cr in Q4, down from ₹926 Cr year-over-year, supported by a 48.2% rise in Bio-Fuel to ₹273 Cr and 14.8% growth in Potable Spirits to ₹284 Cr. EBITDA surged 35.1% to ₹148 Cr with margin expansion of 532 bps to 17.1%. PAT jumped 51.7% to ₹64 Cr, lifting margin to 7.4%. For FY25, net revenue rose 14.4% to ₹3,768 Cr, driven by Bio-Fuel doubling to ₹1,044 Cr and Potable Spirits up 22.8% to ₹1,163 Cr. EBITDA grew 22.8% to ₹525 Cr with margins expanding 100 bps to 13.9%. PAT increased 33.5% to ₹231 Cr with a 6.1% margin. The balance sheet remains solid with fixed assets of ₹3,736 Cr, moderate gearing at 0.80x, and stable cash flows.

2. Strategic Initiatives & Growth Drivers:

IGL is boosting bio-fuel capacity with a 190 KLPD expansion at Gorakhpur targeted by FY26. Focus on premiumizing Potable Spirits and entering new markets is supported by partnerships like Amrut. R&D collaborations are advancing green chemistry, bio-based specialties, nutraceuticals, and specialty chemicals. Rising ethanol blending volumes underpin growth in bio-fuels, positioning IGL well amidst sustainability trends.

3. Business Developments:

IGL is restructuring by demerging Potable Spirits, Bio-fuel, and Biopharma into separate entities (ISL and EBL) to sharpen focus and unlock value. JV operations delivered 70% EBITDA growth due to a favorable product mix. New bio-specialty and nutraceutical products are progressing, with the NSU facility commissioning close to completion, paving the way for further expansions.

4. Market Position & Competitive Advantage:

A pioneer in green chemicals for 30+ years, IGL leads India’s bio-based ethylene oxide and glycol production using renewable feedstocks. Its diversified portfolio spans chemicals, spirits, bio-pharma, and bio-fuels, backed by integrated manufacturing and global tech partnerships (Sulzer Chemtech, LanzaTech). Strong R&D and sustainability focus enhance differentiation in pharma, personal care, and industrial chemical markets.

5. Investor Implications:

Volume and margin expansion in bio-fuels and Potable Spirits suggest positive growth potential. The ongoing restructuring aims to unlock value and improve capital efficiency. Execution risk lies in scaling bio-fuel capacity and margin pressures in biopharma. Overall, IGL is well positioned to benefit from sustainability trends and ethanol blending growth, offering investors a diversified, green-chemistry exposure.