Styrenix Performance Materials Limited — PPTs, 24-05-2025: Investor Presentation

1. Financial Highlights:

Styrenix reported consolidated sales revenue of ₹2,982 Cr for FY24-25, up 34% YoY, led by the acquisition of Ineos Styrolution Thailand. Standalone sales rose 23.5% to ₹2,744 Cr. Consolidated profit after tax increased 36% to ₹235 Cr, while standalone profit grew 34% to ₹232 Cr. EBITDA expanded 33% consolidated and 30% standalone, reflecting margin improvement from higher volumes and optimized costs. The balance sheet remains strong, with consolidated equity at ₹1,168 Cr and standalone at ₹851 Cr. Inventories climbed due to capacity ramp-up and integration. Net debt increased to fund acquisitions but stays manageable with stable finance costs.

2. Strategic Initiatives & Growth Drivers:

Styrenix is pushing brownfield expansion in ABS with a 50KT phase 1 addition targeted by mid-2026 and an accelerated phase 2. Engineering work for HIPS capacity upgrades is underway. The Thailand acquisition enhances global presence and specialty ABS/SAN capabilities. Focus on debottlenecking, process efficiency, and specialty products positions the company to capture polymer demand growth (~6-7% YoY) in automotive, appliances, and other sectors in India and Asia Pacific.

3. Business Developments:

The acquisition of Ineos Styrolution Thailand, adding 31KT rubber and 100KT ABS/SAN capacities, was completed early FY25 and integrated in Q4 results. This facility offers scale, synergies, and wider access in global ABS/SAN markets. Styrenix continues R&D leadership with 1,300+ custom color grades and global project execution, supporting new product launches and specialty portfolio growth.

4. Market Position & Competitive Advantage:

Styrenix leads India’s ABS and SAN segments with a strong customer base across automotive, electronics, appliances, and packaging. Its extensive PAN India footprint, robust R&D, and expanded global scale post-Thailand acquisition enable differentiated specialty products focused on import substitution. Manufacturing scale, technology, and long-term customer ties underpin its competitive edge.

5. Investor Implications:

Styrenix demonstrates positive growth potential with volume and margin expansion, aided by strategic acquisitions that diversify products and geography. Planned capex on brownfield and specialties aligns with steady polymer demand. While integration and ramp-up pose execution risks, the company’s healthy balance sheet and experienced management support long-term value creation.