Jubilant Ingrevia Ltd Management Discussions

The chemical industry, both globally and within India, stands at an inflection point. According to MarketsandMarkets, the global chemical industry is projected to expand from USD 6,182 billion in 2024 to USD 6,324 billion in 2025 a modest 2.3% growth yearonyear. This temperedoutlook reflective of headwinds: overcapacity in commodity segments, rising energy prices, tightening environmental regulations, and the imperative to transition toward more sustainable operating models.

Indias chemical sector, in contrast, is projected to reach USD 300 billion in market size by 2025 and is on track to achieve USD 1 trillion by 2040, as per data from Invest India and McKinsey & Company. This growth is fuelled by strong domestic demand in agriculture, pharma, and construction; expanding export opportunities in specialty and performance chemicals; and growing foreign investment in manufacturing ecosystems. Indias comparative advantages such as cost competitiveness, a technically skilled workforce, and regulatory readiness are positioning it as an increasingly central player in global chemical supply chains.

In conclusion, the global and Indian economies in 2025–26 are charting divergent but interconnected trajectories. While global recovery remains slow and uneven, Indias structural strengths, policy agility, and competitive ecosystem continue to create opportunities for industrial growth. For the chemical sector, the ability to adapt to these evolving dynamics, through strategic investment, sustainable innovation, and operational resilience, will be key to maintaining relevance and unlocking longterm value in a world increasingly defined by complexity and change.

The global specialty chemicals market is expected to grow at a CAGR of 5.0%.

Specialty chemicals are lowvolume, highvalueadded products used for specific performanceenhancing functions across a variety of enduser sectors such as pharmaceuticals, agrochemicals, personal care, electronics, and construction.

Their customised nature and functional specificity position them as critical enablers of downstream innovations and sectoral competitiveness.

India is fast emerging as a preferred manufacturing hub for specialty chemicals, benefiting

A wellestablished chemicals ecosystem with production clusters. Competitive manufacturing costs and skilled chemistry talent.

Increasing global demand for "China+1" sourcing alternatives, especially in highbarrier chemistries such as pyridine.

1. Agrochemical Demand Resurgence:

The Agrochemical market is showing signs of resurgence with higher demand, where destocking seems to be over, though price remains a challenge due to excess global capacities especially in China, Overall the market remains attractive in the long term with Increasing global food demand, climaterelated farming challenges, and precision agriculture spurring demand for crop protection solutions – a key downstream segment for pyridine and diketene derivatives.

2. Pharmaceutical Intermediates: Global pharma outsourcing and innovation in API synthesis are increasing the relevance of specialised intermediates derived from pyridine.

3. Technology Integration:

Adoption of flow chemistry, catalysis, and digital process optimisation is driving new molecule development, particularly for highpurity applications.

4. Sustainability Tailwinds: Heightened regulatory and market pressure to eliminate hazardous chemicals is accelerating demand for greener, more efficient specialty chemicals a domain in which Jubilant Ingrevia

Limited is investing through biobased raw materials and cleanprocess engineering. Notably, Pyridine, as a bioderived intermediate, offers superior efficacy and safety for both human and agricultural applications.

The pharmaceutical segment remains resilient, with growing demand and healthy order placements, particularly from regulated markets such as North America,

Looking ahead, the specialty chemicals sector is on the cusp of a strategic shift

From volumeled growth to valueaccretive growth via integration and innovation.

From commoditycentric operations to platformbased CDMO and solution models.

From linear sourcing to circular and biointegrated supply chains, aligned with ESG expectations

The global market for Pharmaceutical Custom Development and Manufacturing Organisations (CDMOs) was valued at

USD 180.3 billion in 2020 and is projected to reach USD 319.6 billion by 2029, growing at a CAGR of 9.7%, driven by their critical role in accelerating timetomarket, managing capital efficiency, and navigating regulatory complexities for pharmaceutical, biotech, and agrochemical companies. Simultaneously, Indias specialty chemicals sector is experiencing strong growth, expected to rise from USD 36.0 billion in 2020 to USD 64.5 billion by 2025 at a

CAGR of 12.4%, with the CDMO segment alone projected to expand from USD 12.9 billion to USD 22.7 billion during the same period, reflecting a 12.0% CAGR.

India is increasingly being positioned as a global CDMO powerhouse due to:

Cost arbitrage in process chemistry and operations (30 40% lower than Western markets).

A skilled scientific workforce, particularly in process R&D and scaleup.

Government incentives through

PLI schemes and faster regulatory approvals.

Strategic relevance in the "China+1" supplychain diversification strategy.

1. Outsourcing Surge by Global Pharma & Agchem Firms:

Innovators are increasingly outsourcing both earlystage development and commercial scale production to focus on core R&D, reduce risk, and lower operational complexity.

2. Demand for Complex Chemistry Expertise:

There is a growing need for suppliers who can handle hazardous, multistep, and regulated chemistries, such as nitration, halogenation, and continuous flow processes.

3. Agrochemical OffPatent Cliff &

With many agrochemical molecules going offpatent, global agchem firms are seeking reliable CDMO partners to reformulate, relabel, and reregister actives in new markets.

4. ResilienceDriven Sourcing Strategy:

COVID19 and ongoing geopolitical instability have led to a strategic shift from lowestcost to mostresilient sourcing models. Longterm contracts, dual sourcing, and nearshoring are boosting Indian CDMOs.

5. Digitalisation and Compliance Needs:

Clients are demanding digital batch records, eaudits, and robust EHS protocols.

Market for Nutrition & Health Solutions spans significant and growing demand across human and animal nutrition sectors. In human nutrition, the global nutraceutical products market is projected to reach USD 405.8 billion by 2025 at a

CAGR of 7.2%, with dietary supplements alone expected to hit USD 114.5 billion and the broader nutritional supplements industry estimated at USD 249.4 billion, growing at 6.4% annually driven by rising health awareness, changing dietary habits, demand for fortified foods, and government mandates. Essential nutrients like Niacin (Vitamin B3) play a key role in cellular metabolism and are widely used in supplements, cosmetics, energy drinks, and fortified foods. In animal nutrition, the global vitamin feed supplements market is forecast to grow from USD 3.82 billion in 2020 to USD 5.05 billion by 2025 at a CAGR of 7.2%, while the overall feed additives market is expected to reach USD

47.0 billion by 2025, growing at 6.1%, fueled by increased focus on livestock and poultry farming; these supplements are vital for monogastric animals that cannot synthesize B complex vitamins, enhancing feed quality, disease prevention, and overall livestock performance across poultry, pet food, dairy, aqua, and swine applications.

According to data primarily sourced from Markets and Markets Analysis, the global Vitamin B3 market was valued at approximately USD 351 million in 2020 and is projected to reach USD 388 million by 2025, reflecting a Compound Annual Growth Rate (CAGR) of 2.5% over the forecast period. In volume terms, the market was estimated at approximately 60,000 metric tonnes in 2020, with an expected

CAGR of 2.0% from 2020 to 2025.

These vitamins are essential nutrients used across human health, animal nutrition, cosmetics, pharmaceuticals, and functional foods. Their importance in metabolic health, cardiovascular support, and nervous system development makes them indispensable in both preventive and therapeutic nutrition.

The Nutrition & Health Solutions industry is segmented into:

Animal Nutrition: Feed grade Niacinamide, Niacin, Choline Chloride and 18+ branded Specialty formulations.

Human Nutrition: fortified food ingredients, nutraceuticals, medical nutrition

Personal Care and Cosmetics: Antiageing and skinlightening formulations

Pharmaceuticals: Therapeutic niacinbased cardiovascular and lipid lowering drugs

Global demand is increasingly shifting from bulk vitamin production to differentiated, applicationspecific nutrition, including:

Lowdust and coated premix formulations

Functional premixes for personalised nutrition Cleanlabel, foodcompliant bioactives

India is emerging as a key global exporter of vitamins, benefiting from:

A robust bulk drug and fine chemicals ecosystem Competitive production costs and availability of biobased feedstocks (e.g., molasses/bioethanol)

Strategic integration from intermediates to final actives

Indias nutraceuticals market is also booming domestically expected to grow from USD 6 billion in 2023 to USD 18 billion by 2030, at a CAGR of over 15%. This creates dual demand: global exports and domestic consumption, particularly for fortified foods, wellness supplements, and functional beverages.

1. Health and Wellness Megatrend

Rising awareness of lifestyle. diseases, immunityboosting, and preventive care is driving the consumption of Bcomplex vitamins. COVID19 further accelerated interest in daily supplementation and fortified nutrition.

2. Growth of Functional Foods and Beverages

Vitamins B3 and B4 are increasingly used in dairy products, breakfast cereals, energy drinks, and fortified snacks aimed at both children and older adults.

3. Animal Nutrition Expansion

With livestock feed optimisation gaining regulatory and economic traction, the demand for feedgrade vitamins continues to rise in regions like AsiaPacific, Latin America, and

Africa. Niacinamide improves feed conversion efficiency, growth rate, and overall animal health.

4. Shift to Human Food Grade Production

As feedgrade margins tighten due to commoditization, companies like

Jubilant Ingrevia Limited are pivoting to foodcompliant and pharmagrade nutrition, with higher pricing power and longer contracts.

5. Regulatory and Quality Assurance Pressures

Major endusers now demand full traceability, cleanlabel certifications, and adherence to international food standards.

The Chemical Intermediates segment encompasses industrial chemicals that serve as foundational inputs in the synthesis of enduse molecules across various industries, including pharmaceuticals, agrochemicals, polymers, and consumer goods. These chemicals are critical for maintaining continuity and costefficiency downstream

The global acetic anhydride market was valued around USD 3.50 Billion in 2023, with CAGR growth projected at around 2.0% by 2032. Acetic anhydride is primarily used in pharmaceutical

APIs (e.g., paracetamol), agrochemical synthesis, and acetatebased polymers such as cellulose acetate for films, textiles, and cigarette filters.

The global ethyl acetate market stood at USD 5.0 Billion with CAGR growth of around 3.0% by 2032. Ethyl acetate is a widely used solvent in paints, coatings, adhesives, and pharmaceutical manufacturing.

In India, the ethyl acetate market was valued at USD 600 million in 2023, with a projected CAGR of 4.5% by 2032. India continues to be a net exporter of these solvents, particularly to Southeast Asia, the Middle East, and Europe.

1. Pharmaceutical Industry Demand

Intermediates such as acetic anhydride and ethyl acetate are essential in synthesising active pharmaceutical ingredients (APIs) and excipients, particularly in the generics space like manufacturing of Paracetamol. With pharmaceutical output increasing in India, China, and LATAM, demand for these intermediates is on the rise.

2. Solvents for Paints, Coatings & Adhesives

Ethyl acetates use in fastevaporating paints, thinners, and surface coatings is gaining traction, especially in automotive, real estate, and packaging applications.

3. Growth in the Agrochemical Sector

Acetic anhydride and related esters are used to manufacture herbicides and insecticides, with consumption growing in response to food security concerns and farm yield optimisation in Asia and Africa.

4. Sustainability and Bio Based Alternatives

Emerging regulations around carbon intensity and VOC emissions are driving interest in greener solvents, prompting companies like Jubilant to explore biobased acetyl products derived from renewable feedstocks such as molasses.

5. Emerging Market Manufacturing Expansion

As countries like India, Vietnam, and Bangladesh expand their textile, pharma, and electronics production bases, demand for intermediates that serve these industries is expected to grow substantially.

The Chemical Intermediates business, particularly the Acetyls segment, operates in a highly sensitive environment marked by cyclical and structural challenges. Several key factors contribute to the volatility of this segment:

Exposure to Paracetamol Demand Cycles: A significant portion of acetic anhydride demand originates from the pharmaceutical sector, particularly for paracetamol manufacturing. However, postpandemic corrections have resulted in suppressed demand, with many downstream plants running below optimal utilisation. This has led to excess market supply and price erosion for acetic anhydride.

Raw Material Price Linkages: The segment is vulnerable to input cost volatility, especially in acetic acid. Given the formulabased pricing structure of acetic anhydride, fluctuations in acetic acid prices directly affect margin realisation.

A sharp decline in acetic acid prices has recently compressed profitability.

Logistics and Freight Inflation: Geopolitical disruptions such as the Red Sea crisis escalated freight and logistics costs, further pressuring margins in an already strained cost environment.

Product Portfolio: Key products like acetic anhydride, ethyl acetate, and Bioacetaldehyde are commoditised and heavily influenced by macrolevel supplydemand dynamics. Their performance is therefore inherently cyclical, leaving limited scope for pricing premium or margin insulation.

Jubilant Ingrevia Limited is a globally integrated life science and specialty chemicals company, delivering highperformance solutions to a wide range of industries including pharmaceuticals, nutrition, agrochemicals, personal care, industrial chemicals, and performance materials. Formed as a result of the demerger of the Life Science Ingredients (LSI) business from Jubilant Life Sciences, the Company combines deep chemistry capabilities with forwardlooking innovation, offering an expansive portfolio of products and services that address critical needs across global value chains.

Our business is structured across three synergistic verticals Specialty Chemicals, Nutrition & Health Solutions, and Chemical Intermediates. Each segment is supported by strong backwards integration, stateoftheart manufacturing, and advanced R&D platforms.

With a presence in over 50 countries and a customer base spanning more than 1,500 clients, including many global innovators and Fortune 500 companies, we are a trusted partner known for technical reliability, regulatory compliance, and supply chain agility. Our facilities are compliant with global standards, including cGMP, REACH, US FDA, and ISO, and are supported by highly qualified scientists and technologists who drive our pipeline of proprietary molecules, custom synthesis projects, and green chemistry innovations.

In FY 2025, the Companys R&D capability was further strengthened, with the total

R&D team expanding to 150 qualified scientists, comprising 30 highly qualified

PnD scientists, operating across three established research centres. This enhanced capability reflects continued hiring efforts, particularly at the newly established Greater Noida R&D facility.

As part of the Jubilant Bhartia Group, we are committed to creating longterm stakeholder value through sustainable practices, operational excellence, and inclusive growth. Whether it is enabling healthier lives through our nutrition and pharma products, improving agricultural productivity with our agro intermediates, or supporting industrial transformation with highpurity solvents and customised actives, Jubilant Ingrevia Limited continues to redefine the role of chemistry in improving everyday life globally.

Metric FY 2025 FY 2024 YoY Change Total Revenue 41,776 Million 41,358 Million +1%

EBITDA 5,569 Million 4,564 Million +22% EBITDA Margin 13.3% 11.0% 229 bps Profit After Tax (PAT) 2,512 Million 1,829 Million +37% PAT Margin 6.0% 4.4% 159 bps EPS ( per share) 15.9 11.6 +37% Net Debt (Mar 31, 2025) 6,578 million 6,534 million 439 million

Net Debt / EBITDA 1.18x Working Capital Days 61 days

Jubilant Ingrevia Limited delivered a differentiated performance across its three business segments in FY 2025, underpinned by targeted capital deployment, strong operational execution, and early traction in highpotential areas such as CDMO, human nutrition, and exportled growth.

In Specialty Chemicals, the Company reported a robust 15% yearonyear revenue growth, with EBITDA surging 70% over FY 2024. The segment closed Q4 with its highestever quarterly EBITDA margin of 27%, maintaining a healthy FY25 margin of 23%. This strong financial performance was driven by scaleup in Diketene derivatives and a broadbased uptick across Pyridine platforms and the CDMO vertical. The

CDMO business, in particular, gained significant momentum with the signing of two large multiyear agrochemical contracts and a growing pipeline of over 25 molecules across pharmaceutical, agrochemical, and semiconductor segments.

The Nutrition & HealthSolutions segment also gained scale and margin expansion, with revenues increasing 10% yearonyear and Q4 EBITDA rising by 65% over the prior year. The segment delivered a fullyear EBITDA margin of ~14%, Niacinamide and Choline continued to anchor growth, complemented by strong demand for newly introduced cosmetic and foodgrade Vitamin B3 products.

Going forward, the rampup of the cGMPcompliant facility at Bharuch will play a pivotal role in capturing demand in highermargin human and cosmetic nutrition segments.

Chemical Intermediates, however, remained subdued during the year. Revenue declined due to persistently weak demand for Acetic Anhydride, particularly in the paracetamol and agrochemical value chains. Margins were further affected by pricing pressure, heightened logistics costs from the Red Sea crisis, and adverse foreign exchange movements. In response, the Company has begun rebalancing the product mix to favour higher volumes of Ethyl Acetate and Bio Acetaldehyde, while maintaining market share in Acetic Anhydride.

Capital allocation during the year continued to align with Jubilant Ingrevia

Company incurred 3,650 million in capital expenditure in FY 2025, fully funded through internal accruals. This brought the cumulative investment under the planned

20,000 million Capex plan (initiated in FY 2023) to 17,450 million. Looking ahead, the Company has committed 6,000 million for FY 2026, prioritising highgrowth projects such as multipurpose plants for fine chemicals, expansion in CDMO capacity, and new launches in the human nutrition segment. Asset turnover is expected to stabilise at ~1.3–1.5x for Specialty/Nutrition and ~1.8–2.0x for Intermediates. Notably, ~50% of the revenue potential from these investments has already been realised, with the balance expected to yield over 10,000 million in incremental revenue in the coming years.

Shareholder returns were reinforced through consistent dividend payouts. The Board declared a final dividend of2.50 per share, bringing the total FY 2025 dividend to 5.00 per share, resulting in a cash outflow of798 million.

Lean 2.0 launched to deliver an additional

1,000+ million in annualised savings in FY 2026. Internationalisation is also gaining momentum, with export revenue share rising to 46%, from 41% in FY 2024, led by a 52% YoY increase in US revenue.

Jubilant Ingrevia Limited is wellpositioned to capitalise on emerging opportunities in highvalue niches such as semiconductors, human nutrition, and CDMO. These areas are expected to be key growth engines in the Companys journey towards its longterm value creation targets.

CDMO each with distinct chemistry platforms, customer segments, and growth drivers. These are unified by the companys common strengths in backwards integration, regulatory compliance, technological capability, and a global customer base.

In FY 2025, the segment reported revenue of 18,180 million, a 15% increase yearonyear, while EBITDA surged by 70% to 4,220 Million. In the fourth quarter alone, it achieved a record EBITDA of 1,290 million and a 27% EBITDA margin its highest in 15 quarters driven by strong demand recovery, higher capacity utilisation, and favourable product mix improvements, particularly in Pyridine and Diketene derivatives.

Jubilant Ingrevia Limited retains its leadership position in its chosen product portfolio in the global Specialty Chemicals market. The Company is ranked #1 worldwide in 36 pyridine derivatives with more than 50% global market share. The

Company has steadily evolved towards a more "Specialtydriven model" expanding its pyridine derivatives portfolio, scaling its presence in diketene chemistry, and strengthening its position in CDMO services while entering into new chemistries and technology platforms.

1. Pyridine & Picolines

This foundational subsegment comprises BioPyridine, BioBeta/Alpha/Gamma Picolines, 3/4Cyanopyridine, Piperidine, and Alkyl Pyridine derivatives. Jubilant

2. Fine Chemicals

This segment includes highvalue derivatives of BioPyridine, BioPicoline, and Diketene, such as Amino/Halo Pyridines, Acetyls,

Carboxylic Acids, Lutidines, Collidines, and Metal Complexes. The segment also includes a range of antimicrobial solutions for personal care, coatings and industrial applications.

The Fine Chemicals business has shown a remarkable growth in volumes and penetration with new customers; however, we continue to face pressure on pricing due to global excess capacities.

The Diketene derivatives (Esters, Amides, and Specialty Intermediates) have demonstrated rapid growth. Jubilant aims to be among the top three global players in Diketene chemistry. The second phase of the new Diketene Derivatives plant at Gajraula commissioned in Q4 FY 2024 is operating at healthy utilisation levels, and we have plans to further strengthen the product pipeline and capacities.

The BioPyridine and its derivatives continued to exhibit a stable performance across all segments, and we continued to work on launching new derivatives during the year. The antimicrobial products portfolio also registered a healthy growth across segments, with volumes growing across customers and the addition of new global customers and products in the pipeline.

3. CDMO (Custom Development & Manufacturing Organisation)

This highvalue vertical continues to scale rapidly across the pharma, agrochemical, and semiconductor sectors. The company leverages expertise in 35+ complex chemistries, such as multistep synthesis, chiral chemistry, sugar chemistry, Grignard reactions, and continuous flow processes.

Pharma CDMO: Offers endtoend services from route scouting to commercial manufacturing (both GMP and nonGMP). 15 client programmes are under execution, including latephase products, with

DMF filingsunderway.

Agrochemical CDMO: Focused on custom manufacturing of valueadded intermediates and actives derived from pyridine, picoline, and diketene. We have commissioned a new multipurpose facility to offer these products. We have been able to win a large contract with a global Agrochemical Innovator and are expanding the facility to meet the requirements by the end of this year. We are also expecting to start supplying other molecules to another global agrochemical player. We continue to engage with the majority of global players and are expecting a healthy future pipeline.

Semiconductor Chemicals CDMO: This emerging segment caters to global demand for EPyridines and highpurity specialty chemicals used in chips. Sample evaluations are in progress with 810 molecules under active development, with six already sent to leading global players.

The global Specialty Chemicals industry has begun to recover from the previous years inventory correction cycle in agrochemicals, with demand stabilising and volumes rebounding. Although pricing remains a challenge due to excess capacities, improved demand visibility and exportled traction offer a constructive outlook for the segment. We are further building our capabilities in the markets of the US, Europe and Japan by expanding the teams, enhancing market reach, building deeper relationships with customers, and offering improved service levels. We continue to invest in improving our technical capabilities to service the requirements of our customers.

Jubilant Ingrevia Limited remains on course to meet its Pinnacle strategy. The Specialty

25% as scale economies and efficiency initiatives compound.

27 %

Record Q4FY25 EBITDA margin, highest in last 15 quarters

Health Business Segment has a strong foundation in animal feed and health solutions and is strategically expanding into highvalue, regulated markets such as human nutrition and cosmeticgrade applications. Products within this segment serve diverse enduse industries, including human and animal nutrition, personal care, and functional foods. Structurally, the business is organised into two key subverticals: Human Nutrition and Health Solutions, and Animal Nutrition and Health Solutions.

In FY 2025, the segment continued to demonstrate solid growth momentum, supported by operational scale and strategic product introductions. The Company now offers a comprehensive portfolio of seven core nutrition ingredients and more than 18 branded formulations catering to a broad base of domestic and global customers. A notable milestone during the year was the launch of a new range of foodgrade Choline Chloride

The business retained its global toptwo position in Vitamin B3 (Niacin and Niacinamide) and reinforced its domestic market leadership in Vitamin B4 (Choline Chloride). Export momentum remained strong, with 74% of segments revenues derived from exports, with 20% of overall sales coming from North America and

32% from Europe & Japan. Volume growth was robust on both a yearly and quarterly basis, driven largely by increased demand for cholinebased products. The cGMPcompliant Niacinamide facility commissioned at Bharuch is ramping up efficiently responding to surging demand in cosmeticgrade applications a segment that offers attractive, marginaccretive growth potential.

# Before adjustment of Unallocated corporate expense/Income

This subvertical serves customers across human nutrition, nutraceuticals, personal care, cosmetics, bakery, beverages, and confectionery sectors. Its offerings include highquality food ingredients and specialty premixes sourced through global partnerships and internal manufacturing.

The business serves 90+ customers in cosmetics, 55+ in dietary supplements, and over 20 energy drinks and cereals manufacturing customers are supported by a dedicated Human Nutrition team.

1. Food Grade Niacin, Food & Cosmetic Grade Niacinamide

Jubilant Ingrevia Limited is among the few players with full backwards integration for these products, reducing carbon footprint and ensuring captive raw material availability. A cGMPcompliant facility at Bharuch, commissioned in FY 2025, is ramping up well, with strong quarteronquarter growth in cosmeticgrade demand.

2. Choline Chloride (CC) & Choline Bitartrate (CBT)

These products entered the human nutrition segment in FY 2025, showing strong volume traction and stable pricing. They serve vital physiological functions, including liver and brain health.

3. Chromium Picolinate

Used in dietary supplements targeting glucose metabolism, weight control, and insulin sensitivity.

4. Zinc Picolinate

Supports immunity and growth; offers strong scaling potential.

5. Riboflavin Phosphate Sodium

A Vitamin B2 derivative, with strong demand from food, beverage, and dietary supplement segments.

This subvertical supplies 24+ branded feed additives across poultry, dairy, aqua, and pet food markets. A significant portion of Beta Picoline, a key input, is sourced inhouse.

1. Feed Grade Vitamin B3

Jubilant Ingrevia Limited is among the top two global producers of Vitamin B3. FY 2025 saw YoY growth in sales volumes and price improvement for Niacinamide.

2. Vitamin B4 (Choline Chloride)

Leading product line in India, catering to multiple species including poultry, aqua, and dairy.

3. Phyto Shield

A plantbased liver health enhancer and antibiotic alternative.

4. PreMixes

Includes 18 branded solutions marketed through robust channels and digital platforms. The segment serves 450+ customers.

Looking ahead, the Company remains focused on scaling its highvalue human nutrition and cosmeticgrade portfolio. The ongoing rampup of the Bharuch cGMP

Niacinamide facility is expected to enhance capacity utilisation and meet rising demand.

A new cGMP facility for foodgrade CC and CBT is under development and will further strengthen the Companys integrated position in the nutrition supply chain.

Under its strategic growth plan "Pinnacle", the Companys ambition is underpinned by a sharpened focus on premium, marginaccretive products in the human nutrition space, including specialty premixes and functional nutritional ingredients.

Management expects sizable yearonyear growth in this segment, with EBITDA margins expected to stabilise between 16% and 18% in the steady state.

By FY 2030, the Nutrition & Health Solutions segment is targeting revenue of over 20,000 million with EBITDA margins between 18 20%. Together with the Specialty Chemicals segment, it is expected to contribute more than

65 %

Yearonyear increase in segment EBITDA, from 617 million in FY2024 to 1018 million in FY2025.

52 %

Share of segment revenues derived from exports to North America, Europe & Japan.

The Chemical Intermediates segment forms a foundational pillar of Jubilant Ingrevia

This segment focuses on the development and supply of essential buildingblock ingredients, primarily leveraging Acetyls and Ketene chemistry platforms. These intermediates serve a broad spectrum of global industries and also cater to internal requirements within the Specialty Chemicals business. Jubilant Ingrevia

Limited continues to maintain global leadership in key Acetyls, optimising each product line as an autonomous profit engine.

The Company operates five strategically located manufacturing facilities across

India, supported by global storage hubs in Europe and South Korea, ensuring uninterrupted supply chain operations.

A notable distinction is Jubilant Ingrevia

In FY 2025, the Chemical Intermediates segment reported revenue of 16,123 million, reflecting a 14% decline from 18,703 million in FY 2024. The segment contributed approximately 39% to the

Companys total revenue in FY 2025, compared to 45% in the preceding fiscal year. Segment EBITDA stood at 1,076 million, registering a 47% decline from

2,016 million in FY 2024, leading to an

EBITDA margin of 7%, down from 11% in the previous year. Consequently, its share of overall Company EBITDA declined to 17% in FY 2025, from 39% in FY 2024.

This performance was impacted by continued weakness in key enduse markets, particularly Paracetamol, which weighed on volumes of Acetic Anhydride. Soft pricing trends across the product basket further affected margins. The revenue decline in this segment, amounting to nearly 10,000 million over the last two fiscal years, partially offsets the revenue growth seen in the Companys other segments.

Despite these headwinds, the Company reported a steady uptick in Ethyl Acetate volumes on a yearonyear basis. The new Acetic Anhydride facility at Bharuch, commissioned in FY 2024, has stabilised operations and continues to strengthen

The Chemical Intermediates business is built on robust platforms of Acetyl and

Ketene chemistries, with the following key products:

A versatile intermediate used extensively in pharmaceuticals, agrochemicals, nutrition, polymers, dyes, and aromatics. It plays a critical role in the production of cellulose acetate and is now gaining traction in newer applications such as

Acetylated Wood, offering significant longterm demand potential.

A sustainable, green solvent, Ethyl

Acetate is used across flexible packaging, inks, adhesives, paints, coatings, pharmaceuticals, and agrochemicals. Both global and domestic markets for this product are expanding rapidly.

Positioned as a foodgrade offering higher in the value chain, Bio Acetic Acid is gaining global acceptance due to its quality advantage over petroleumbased alternatives. The product is certified by FSSAI, ISO 22000, Kosher, Halal, and FCC Codex, making it suitable for food applications. The process used significantly reduces carbon emissions, making it environmentally attractive.

An essential raw material in the production of herbicides, dyes, aromatics, and active pharmaceutical ingredients (APIs). Jubilant Ingrevia Limited is among the top merchant suppliers in India and is poised to benefit from continued expansion in agrochemical capacities.

Used across various industrial chemicals such as ureaformaldehyde resin, phenolformaldehyde resin, pentaerythritol, and Pyridine, it serves both captive requirements and external demand, particularly from customers in North India.

The Chemical Intermediates segment is expected to stabilise and gradually improve in performance as demand conditions in key enduse sectors recover. While pricing remained soft through FY 2025, management anticipates a bottoming out of the cycle, with a recovery expected in the near term.

The Acetic Anhydride facility, commissioned in FY 2024, is expected to continue scaling up operations, further strengthening the Companys position in international markets. Jubilant Ingrevia Limited remains focused on expanding its global market share in this product category by enhancing volumes and deepening customer relationships.

" The Chemical Intermediates business continues to be a strategically important, though marginsensitive, pillar of Jubilant Ingrevia Limiteds portfolio. Despite its exposure to cyclical market dynamics, the business remains resilient due to its significant scale, deep vertical integration, and critical relevance across pharmaceutical and agrochemical value chains. Importantly, it functions as a cashgenerating engine for the Company and operates with negative working capital, thereby supporting broader investments across highgrowth segments. Looking ahead, competitive advantage in this space will accrue to companies that can digitise operations, secure volume through longterm contracts, and develop greener, sustainable chemical variants in line with evolving customer and regulatory expectations."

Each facility is strategically designed to leverage local strengths and support our multisegment operations:

1. Gajraula (UP): Integrated platform for Specialty Chemicals & Chemical Intermediates

Treatment

2. Bharuch SEZ (Gujarat): Multipurpose site for Specialty Chemicals, Nutrition & Health Solutions and Chemical Intermediates

3. Nira (Maharashtra): Dedicated Chemical Intermediates.

4. Savli (Gujarat): Animal Nutrition & Health Solutions hub

5. Ambernath (Maharashtra): Microbial control solution under the Specialty Chemicals segment

Together, these five sites form the backbone of a seamless value chain, combining highperformance chemistry, global regulatory rigour and sustainable practices to meet evolving market needs with unwavering consistency.

Our 50plant network spans eight core product platforms:

1. Pyridine & Derivatives (21 plants)

2. Acetyls (12 plants)

3. Diketene & Derivatives (4 plants)

4. Choline & Premixes (4 plants)

5. Niacinamide (3 plants)

6. Pyrithiones (2 plants)

7. Multiple CDMO Molecules (5 plants)

All our sites are equipped with a dedicated utility infrastructure steam boilers, chilledwater systems and brine units sized with builtin redundancy and spare capacity so that critical reactions and cooling processes continue uninterrupted, even during periodic maintenance or peak demand. To uphold our zeroliquiddischarge commitment, all wastewater follows a multistage treatment train. Initial solids removal and pH neutralisation occur after which inEffluent reverseosmosis membranes and polishing filters strip dissolved salts and organics. The resulting concentrated brine is routed through multieffect evaporators, where heat recovery condenses water vapour for reuse and greatly reduces waste volume.

Any remaining offgases are sent to incinerators or thermal oxidisers equipped with continuous online emissions monitors, ensuring full regulatory compliance and minimal environmental impact.

Our niche technology expertise in complex chemistries and process intensification stems from extensive R&D. A fully equipped pilot plant at Gajraula enables validation of new reactions under varied pressures, temperatures, and materials, while rigorous product validation ensures scalability, robustness, and seamless commercialisation.

We prioritise risk identification and mitigation to maintain exceptional operational Management System, integrated with our proprietary Conformity Tool, provides realtime monitoring of environmental, health, safety, and security metrics. Continuous process improvement through automation, worker training, and clear SOPs drives reduced cycle times and higher productivity.

We have initiated digital intervention in manufacturing under the "Surge" platform to help improve efficiency across manufacturing processes..

Became the only Indian company to receive the World Economic Forums Global

Lighthouse Recognition in FY 2025

Created the Jubilant Model Plant, which serves as a learning model for manufacturing excellence across Group companies

Surge also launched with Manufacturing

DnA projects completely led by an inhouse digital team.

27 number of plants connected with the Digital platform for better monitoring of parameters and Historian Replication (20 plants)

Successfully implemented IoTbased vibration sensor & steam trap monitoring system to maintain asset health

Jubilant Ingrevia Limited has implemented

Responsible Care under the ACC program

(RC 14001:2015) and maintains various management standards, namely, ISO 9001:2015, ISO 14001:2015, and ISO

45001:2018 across sites. Facilityspecific accreditation credentials are as follows:

Gajraula: ISO 50001, FSSC 22000, FSSC

22000, FSSAI, NABL (ISO/IEC 17025), Halal & Kosher certifications.

Bharuch: US FDA & WHO GMP Approved facility, ISO 50001, FSSC22000, FAMIQS, NABL (ISO/IEC 17025), Halal & Kosher certifications.

Nira: FSSC 22000, ISO 22000, Halal &

Kosher certifications

Savli: FAMIQS feed safety management.

Ambernath: ISO 9001:2015

. A robust

Gajraula remains a pivotal manufacturing hub for Jubilant

The Bharuch site was a focal point of strategic expansion in FY 2025. The key development during the year was the commissioning of the food and cosmeticgrade Niacinamide and Niacin plant in January 2025, supports Jubilant Ingrevia

Agrochemical CDMO projects:. The site also continues to benefit from the 60,000 MT Acetic Anhydride plant commissioned in FY 2024, strengthening the Companys leadership in both domestic and export markets for this key intermediate.

Solutions Facility.

The facility operates under stringent quality controls, holding an ISO 9001 quality management standard certification.

In FY 2025, we wove a commitment to excellence into our organisational DNA through continuous improvement, strategic benchmarking, and digital transformation. By fostering a mindset of learning and innovation at every level, we challenged the status quo and drove significant operational efficiencies. Leveraging industry best practices alongside cuttingedge digital tools, we elevated performance and secured sustainable value creation for all stakeholders.

Our globally recognised Lean Six Sigma framework reached full maturity across all sites. Certified Black, Green, Yellow, and

White Belts spearheaded crossfunctional teams to streamline workflows, optimise asset utilisation, and eradicate waste, safeguarding our high standards for quality and ontime delivery. Each improvement initiative adhered to the rigorous DMAIC (Define Measure Analyse Improve Control) cycle under a clear governance structure, with bestpractice sharing embedded into our operating rhythm.

Delivered measurable, crossfunctional gains from yield improvements in critical process lines to cycletime reductions in order fulfilment.

Transitioned pilot innovations into fullscale production, setting new benchmarks for efficiency and safety.

Rolled out a comprehensive 5S program at every facility:

100% of employees trained in 5S methodology

Enhanced workplace safety and visual management

Tangible reductions in waste and operating costs

Our relentless pursuit of Award (Nov 2024) Honoured for Star Champion, Platinum, Gold, and two Silver awards for excellence was celebrated outstanding lean practices and Kaizen projects that delivered measurable improvements in with six industry accolades: innovative problemsolving. productivity, safety, and cost efficiency.

In FY 2025, we successfully navigated the lingering effects of global disruptions from the COVID19 pandemic to geopolitical tensions in Eastern Europe and the Middle

East, as well as continued bottlenecks in the Red Sea without missing a single customer delivery. By combining proactive scenario planning, alternate routing strategies and realtime carrier coordination, we maintained service levels even as transit times and port congestion fluctuated.

By Q3 of FY 2025, ocean freight costs had largely normalised from the spikes of the prior year. Early in the year, we worked closely with our shipping partners to renegotiate charter agreements and optimise lane utilisation, protecting our margins while sustaining ontime performance. This disciplined approach allowed us to absorb cost volatility without passing undue burden onto our customers.

Throughout FY 2025, our raw material and fuel sourcing strategy matured into a fully formulabased contracting model.

Monthly and quarterly agreements tied to key feedstock indices and energy prices covered everything from core chemical inputs to utilities and logistics services. This structure delivered the cost visibility and predictability we needed to plan production and cash flows with confidence.

We deepened our commitment to an inclusive, sustainable supply chain by prioritising partnerships with MSMEs that leverage cleanenergy sources and circulareconomy practices. In FY 2025, we maintained platinum membership in the ICCs "Nicer Globe" Responsible Care initiative, ensuring every shipment of our chemical products adhered to the highest standards of safety and environmental stewardship.

Our endtoend digitisation journey reached full maturity in FY 2025. Reverse auctions and online procurement platforms now underpin over 90% of our sourcing events, while RPAenabled invoice processing slashed manual touchpoints by 70%. Realtime dashboards give procurement and logistics leaders instant visibility into spend analytics, inventory positions and supplier performance enabling agile decisionmaking at scale.

Ocean freight rates normalised by Q3, after collaborative renegotiations and routing optimisations

Formulabased contracts for raw materials, utilities and freight delivered predictability and reduced cashflow risk

Inclusive sourcing with cleanenergy and circulareconomy MSMEs, alongside platinum Responsible Care membership

Full digital procurement transformation: reverse auctions, eplatforms, RPA invoicing and realtime spend analytics

Deployment of lowcarbon transport pilots and launch of ecatalogues to harmonise pricing and drive transparency.

Together, these initiatives have strengthened our resilience, reduced cost volatility and reinforced our commitment to sustainability and inclusivity across the supply chain.

Technologically driven, Research &

Development is a cornerstone of Jubilant

2030 growth roadmap. As the engine of innovation, it enables us to deliver highquality, costeffective solutions that reinforce our position as a techsavvy leader in Life Sciences & Specialty

Chemicals. Beyond new products, it underpins our shift toward a serviceled model unlocking new revenue streams and building "option value" for longterm growth.

In FY 2025, our organisation operated three stateoftheart R&D centres in India, located in Greater Noida, Bharuch, and Gajraula, with the Greater Noida facility serving as our purposebuilt anchor site. Across these centres, we employed approximately 150 scientists, including nearly 30 PhDs, all dedicated to advancing complex chemistries and driving process intensification.

At R&D, every new reaction is evaluated under varied pressures, temperatures, and reactor materials to confirm robustness basis QbD, keeping safety aspects in mind before transfer to commercial manufacturing. Central to our scaleup strategy is the fully equipped Pilot Plant at Gajraula where all the parameters are revalidated. This rigorous pilottoplant workflow ensures that promising leads can be scaled safely and efficiently in a costeffective manner, reducing technical risk and accelerating time to market.

Our Custom Development and

Manufacturing Organisation (CDMO) vertical exemplifies this capability. During the year, we secured eight latephase and launchstage collaborations with global pharmaceutical and biotech customers. Validation batches from our newly commissioned GMP facility at Bharuch have already been taken forward for Drug Master File (DMF) filings in regulated markets, with further product validations on track. These partnerships deliver medium to longterm revenue visibility and position us as a trusted development partner through the patent life of innovator molecules.

Across all platforms, we adhere to a disciplined validation roadmap: rigorous pilotplant trials, hazard and operability reviews, scaleup risk assessments and performance benchmarking against quality and regulatory requirements. Every compound that clears this process enters our integrated manufacturing network with endtoend commercialisation readiness.

Our FY 2025 RDT achievements reinforce margin stability, scalability, and freecashflow visibility key drivers of performance. By converting scientific expertise into differentiated offerings service capabilities, we strengthen the future pipeline that underpins our target of triple revenues and quadruple EBITDA by FY 2030. This focused investment in "Science to Scale" signals sustained competitive advantage and enduring value creation for our stakeholders.

Looking ahead, our R&D roadmap is fully aligned with the PINNACLE strategy. We aim to continue to expand our scientific talent pool, deepen collaboration between discovery and manufacturing teams, and leverage digital tools to optimise designofexperiments and data capture. By maintaining this relentless focus on research excellence, we aim to deliver a continuous pipeline of differentiated, highperformance products that drive sustainable growth and longterm value for our customers and stakeholders.

At Jubilant Ingrevia Limited, our people are more than employees they are the very engine of our purpose and progress. Every milestone celebrated, every innovation delivered, and every transformation led springs from their passion, resilience and commitment.

Our culture is deliberately designed to empower individuals, foster a sense of belonging and unlock potential at every level. It is not merely the outcome of strategy it is the strategy itself. Whether nurturing longstanding careers or welcoming fresh talent, we are creating a workplace where every person can thrive, grow and lead with purpose.

This peoplecentric ethos is woven into every initiative from leadership development and inclusion programmes to digital enablement and wellbeing support. Our recent Great Place to Work certification is testament to the trust, pride and camaraderie that define life at Jubilant Ingrevia Limited. It confirms our conviction that when people thrive, performance follows.

Underpinned by our core values of Caring, Sharing and Growing, our people philosophy rests on five strategic pillars:

Customer Centricity, WorldClass Safe

Operations, Innovation & Technology, ESG Leadership and People Focus..

Safety for our people is nonnegotiable. We integrate safety standards into leadership behaviours, workplace practices and employee engagement from structured safety walks to employeeled 5S programmes and digital monitoring tools.

Our Employee Wellness Assistance Programme provides 24/7 support across emotional, legal, nutritional and financial domains, ensuring colleagues have help whenever they need it.

Ascend supports women returning from career breaks with structured onboarding, mentorship, and confidencebuilding.

Empow(H)er offers curated learning journeys and workshops to equip women with leadership skills and mindsets.

The Women Buddy System pairs each joiner with an experienced colleague, enhancing onboarding, retention and internal support.

Targeted employer branding and campus outreach have driven 67% of hires to be women, while infrastructure upgrades and policy enhancements ensure a safe, inclusive environment. Our SUPERX preonboarding and Aarambh onboarding programmes have significantly improved our new joiner experience

To remain agile and futureready, we have refreshed our talent pool, setting clear

KRAs, reinforcing a performance mindset and creating pathways for high performers. Under our formal successionplanning process, critical roles across grades and locations are regularly reviewed to ensure leadership continuity.

We invest deeply in learning, delivering an average of 3.8 mandays of training per employee. Leadership development is elevated through global exposure, including participation in premier programs like the

Wharton Leadership Program, and also through the inhouse Leadership Academy, equipping our leaders with the mindset and skills to navigate complexity and drive transformation. This holistic approach to learning is shaping a workforce that is agile, empowered, and futureready.

Our campus engagement drives both capability building and diversity. Structured internships and apprenticeships onboard the next generation of talent, many of whom are women, strengthening our future pipeline and promoting gender balance from the outset. As part of our strategic focus on workforce stability and employee engagement, several targeted initiatives were implemented to enhance workmen satisfaction and retention, which has contributed to a reduction in workmen attrition.

Digital tools such as Concur, SURGE, Wrench and a cloudbased HRIS have accelerated our transformation, while

Teamsintegrated HR bots and our preonboarding portal deliver realtime support.

Transparent communication remains a priority: over 200 forums, townhalls, and open sessions ensure every voice is heard. Our Rewards & Recognition framework engages 39% of employees, utilising 98% of the allocated budget to celebrate excellence each quarter.

Our commitment to sharing extends into the communities we serve and the environment we protect. Our CSR initiatives in healthcare, education and infrastructure actively involve our employees and partner

NGOs such as Ekta, Goonj and Muskan

School in donation drives and outreach.

We honour lifes milestones retirement ceremonies with family participation reinforce our belief that our people matter beyond their roles. Sustainability underpins our entire ESG vision: we are steadily advancing towards Net Zero, Water

Neutrality and Zero Waste to Landfill through wasteheat recovery and alternateenergy projects. Our performance is benchmarked by DJSI, Global Vadis and BRSR, and we uphold rigorous standards in procurement and governance..

As we embark on our PINNACLE 3 4 5 journey, we remain unwavering in our focus: to build a workplace where every individual is valued, inspired and equipped to lead change. By investing in people through targeted development, inclusive practices and a culture that celebrates both performance and potential, we are confident that our colleagues will continue to be the catalyst for innovation, resilience, and sustainable growth at Jubilant Ingrevia Limited.

www.jubilantingrevia.com 73

At Jubilant Ingrevia Limited, we view Environment, Health, and Safety (EHS) as integral to sustainable business growth. EHS principles are embedded across all aspects of our operations and decisionmaking processes at every site. Recognising the broader framework of Environment, Social, and Governance

(ESG) which encompasses EHS we have identified ESG as a key enabler of our strategic fiveyear growth agenda,

Pinnacle. Our vision is to achieve worldclass operations, with a clear objective to be bestinclass in Safety, Quality, and ESG performance. In alignment with this commitment, we have launched Project JIVAN (Jubilant Ingrevia Limiteds Vision for Actionable Netpositivity) a transformative initiative that reflects our longterm pledge to not only minimise our environmental footprint but to create a positive impact. Project JIVAN underscores our belief that business success is inherently linked with social and environmental responsibility. It focuses on enhancing digital capabilities, building awareness at all organisational

" We reduced Scope 1 & 2 emissions by 31,000 tCOe, improved water recycling to 45%, achieved Zero Liquid Discharge at three plants." levels, and delivering measurable ESG outcomes, thereby embedding sustainability at the core of Jubilant Ingrevia

We are deeply committed to delivering highquality, sustainable products while proactively addressing the environmental impacts across our entire value chain. This commitment is embedded in our approach to research and development, continuous product innovation, and the integration of product life cycle assessments to ensure sustainability at every stage. In line with growing customer expectations and national climate goals, we have taken decisive action to reduce emissions, conserve resources, and promote circularity. Key achievements include:

GHG Emissions: Absolute GHG emission reduction (Scope 1 & 2) by 31,000 tCO2e (approx.) in FY 2025. We are also engaging suppliers and partners to strengthen environmental compliance and track Scope 3 emissions.

Water Efficiency:Improved water recycling up to 45% in FY 2025 (40% in FY 2024), and reduced specific water consumption by 6%. In FY 2025, building a more resourceefficient supply chain.

We have successfully implemented mechanisms for Zero Liquid Discharge (ZLD) in most of our facilities, with 3 out of 5 plants achieving this status to recycle usable water from effluents after treatment and reduce freshwater consumption.

Clean Energy & Innovation: We have supported projects like Lean and Surge, delivering over 1,200 million in annual efficiency savings and aim to quadruple renewable energy use by FY 2028.

Our expanding green product portfolio includes innovations such as Green

Acetic Acid, with 99% biogenic content, which showcases our commitment to sustainable innovation.

These efforts are designed not only to meet environmental regulations but to help our customers achieve their own sustainability goals through cleaner, more responsible products. We are determined to integrate sustainability into the core of our business strategy, ensuring that every decision, from sourcing to product innovation, contributes to a cleaner, more resilient future.

Safety is not just a protocol it is a mindset that influences every operational decision, from the shop floor to the boardroom.

Anchored in the globally recognised

ISO 45001 Occupational Health and Safety

Management System and strengthened by our Responsible Care certification, our

EHS strategy is a core pillar of business resilience and responsible growth.

This safetyfirst culture is brought to life through Project Apollo, our flagship initiative to nurture a zeroharm workplace. Supported by a zerotolerance approach, we are transforming safety from compliance to ownership, encouraging proactive risk mitigation and fostering a culture of shared accountability across all levels of the organisation.

To drive this transformation, we have rolled out Process Safety Management (PSM) standards under the leadership of a

Corporate Apex Committee. Each element is championed by dedicated corporate owners, while site teams ensure onground implementation and compliance.

At the heart of our approach are Behaviour

Based Safety (BBS) initiatives, empowering employees and contract workers to actively prevent incidents::

‘Suraksha Mitra (Safety Buddy) Program fosters mentoring between employees and contract workers, driving daily engagement on safe practices..

Contractor Safety Supervision ensures focused oversight through regular toolbox talks, PPE audits, and field observations.

12 LifeSaving Rules, embedded in union agreements, are strictly enforced with zero tolerance for violations.

ZeroMeeting Safety Rounds enable leadership to step away from desks and observe realtime plant operations, identifying risks firsthand.

The Empowerment Act allows every employee to stop any unsafe activity, reinforcing collective responsibility.

Permit Ownership Shift puts line managers in charge of safety permits, backed by site audits and 80%+ compliance rates.

Dedicated Safety Supervisors are deployed on shop floors to identify hazards and initiate immediate response measures.

To ensure accountability, all safety observations and hazards are logged into ‘Sanchetna , our digital CAPA platform.

Meanwhile, incidents whether minor or major are captured and investigated through the Incident Reporting and Investigation System (IRIS), using robust rootcause tools like 5WHY and Fishbone analysis. We also conduct over 34,000 mandays of safety drills to continuously align and train our workforce on safe practices.

We extend our health and safety focus across the value chain, ensuring product safety through global certifications such as EU REACH, FAMIQS, Kosher, and HALAL. Our manufacturing sites meet stringent food safety and GMP standards, including FSSC 22000 and FSSAI. With certifications like ISO 9001, 14001,

45001, 50001, and RC 14001, we uphold responsible manufacturing practices across all major facilities.

For detailed disclosures, please refer to the BRSR annexure and the dedicated ESG chapter at the beginning of this report, as well as our independently assured Sustainability Report aligned with GRI

Standards, TCFD, TNFD and UNGC principles.

In FY 2025, Jubilant Ingrevia Limited capabilities, significantly advancedits digital under the leadership of the Chief Digital and

Information Officer, through three flagship initiatives that underpin our innovation, operational efficiency and project

As part of our commitment to scientific innovation, we deployed a nextgeneration, AIpowered retrosynthesis and syntheticplanning platform. Leveraging deeplearning algorithms and chemical bigdata mining, the platform evaluates thousands of potential synthetic routes, assessing reaction feasibility, functionalgroup compatibility, chiral synthesis and process scalability. Key benefits include:

Impurity Prediction: Anticipates and mitigates potential side products for stronger regulatory compliance and process safety.

Condition Optimisation: Reduces trialanderror experimentation by identifying ideal reaction conditions more efficiently.

Forward Synthesis: Enables generation of novel, synthesizable molecular libraries tailored to target profiles.

This platform has accelerated project timelines, lowered development costs and enhanced reproducibility of our synthetic strategies, establishing itself as a cornerstone of our R&D strategy.

To streamline our engineering, . procurement and construction (EPC) projects, we implemented SmartProject, a comprehensive Project Management Information System (PMIS). Integrated modules for document control, project scheduling, procurement tracking and quality & safety management now operate within a single environment. Highlights include:

Realtime Collaboration: Document

Management System (DMS) and Engineering Document Management System (EDMS) enable all stakeholders to work from the latest information, reducing miscommunication.

Analyticsdriven insights support proactive, datainformed decisions; autogenerated reports facilitate early risk detection in cost and schedule performance.

Enhanced Accountability: Unified visibility across functions breaks down silos, ensuring projects are delivered on time, within budget and to the highest safety and quality standards.

Our Bharuch facility achieved recognition as a World Economic Forum Lighthouse Factory in the 2024 sprint, becoming the first Indian chemical manufacturer and only Indian company in that cohort. Through over 30 deployed Fourth Industrial Revolution use cases, we demonstrated::

Advanced analytics and AI in production

Endtoend digital monitoring and predictive maintenance

Scalable digital solutions that drive efficiency and

These IT and digital transformation initiatives have laid a robust foundation for operational excellence, faster innovation cycles and enhanced project delivery. As we progress on our PINNACLE journey, we will continue to harness emerging technologies AI, advanced analytics and integrated digital platforms to sustain competitive advantage and deliver superior value to our stakeholders.

We consider Corporate Social

Responsibility (CSR) to be integral to our corporate purpose, implemented in full compliance with Section 135 of the Companies Act, 2013 and Schedule VII of that Act. Our CSR programmes are strategically aligned with the United Nations Sustainable Development Goals to ensure that our efforts contribute to global priorities.

We initiate CSR initiatives through the Jubilant Bhartia Foundation, the notforprofit arm of our Group, established in 2007. Operating on a PublicPrivatePeoplePartnership model, the Foundation drives initiatives in healthcare, education, livelihood and social entrepreneurship with a focus on women empowerment.

This enables in empowering communities around impact areas.

We provided basic and preventive healthcare services to approximately 460,000 people across Gajraula, Nira, Savli and Bharuch. We strive to provide accessible and affordable basic healthcare and empower communities through health awareness.

We enhanced learning outcomes for over 33,000 students and teachers in more than 100 government schools by implementing:

1. Khushiyon Ki Pathshala: Training for teachers and youth facilitators to create inclusive, childcentred classrooms that promote values and 21stcentury skills.

2. Mobile Science Lab: Handson science workshops to spark curiosity and practical understanding among rural learners.

3. School Digitisation: Deployment of digital learning tools through the HP Alfa and Edulab programmes to narrow the urbanrural education divide.

4. Muskaan Kitaab Ghar: Establishment of school libraries to improve reading habits, support literacy, and reduce absenteeism.

people across Gajraula, Nira, Savli and Bharuch.

We empowered rural youth and women by promoting selfemployment and enterprise creation through:

Skill Development Centres: Training in tailoring, beauty services, basic computing, accounting (Tally), desktop publishing, internet use and artisanal crafts.

Didi Ki Dukaan: A womenentrepreneurship programme offering participant selection,

students and teachers in more than 100 government schools by implementing.

training, seed funding, microfinance linkages, supplychain support and ongoing mentoring.

JubiFarm: Outreach in 15 villages across Bharuch and Vadodara to introduce advanced farming techniques, climateresilient practices and diversified income opportunities.

Samriddhi: The Neem Pulverisation

Project in Gujarat, which engages women in producing neembased products and offers a sustainable income through entrepreneurial venture.

We launched the Bharat Impact Centre for Social Entrepreneurship in partnership with a premier management institute. The

through Nayee DishaCreating Sustainable livelihood opportunity for all.

Centre focuses on incubation, education and research, and has inducted an inaugural cohort of fifteen aspiring social entrepreneurs under the Impact Quest programme, which launched the first 15 members cohort from all across the country. .

Our internal control systems are effective and robust, ensuring efficient use and protection of resources and compliance with policies, procedures, financial reporting, and statutory requirements. Welldocumented guidelines, procedures and processes are integral to our overall governance and regulatory framework.

Section 134(5)(e) of the Companies Act,

2013 requires a company to establish an internal financial controls (IFC) system and ensure that it is adequate and operating effectively. Our IFC framework incorporate the following five elements:

1. Orderly and efficient conduct of business

2. Safeguarding of assets

3. Adherence to company policies

4. Prevention and detection of fraud and errors

5. Accuracy and completeness of accounting records, and timely preparation of reliable financial information We have an adequate IFC framework in place. It sets out guidelines, policies, processes and structures commensurate with the nature, size and complexity of our operations and business processes.

Our internal controls are tailored to the size and scope of the Companys operations and are designed to provide reasonable assurance across all IFC elements. To ensure a robust IFC framework, we follow a threelinesofdefence strategy:

We maintain detailed Delegation of Authority and Standard Operating

Procedures (SOPs), ensure financial decisionmaking through committees, integrate IT controls into processes and uphold clear segregation of duties. A strong budgetary control framework, comprehensive accounting policies and manuals, periodend closing checklists, basis of accounting estimates support consistency. Further, Entitylevel controls including our Code of Conduct and

Ombudsperson Office are established.

For better Governance, operational controls have been implemented through Enterprise

Resource Planning (ERP) system and other IT applications. Operational committees such as the Purchase, Capex and Credit Committees respectively oversee procurement, capital expenditure and credit control decisions to improve controls over operations.

We conduct monthly business performance reviews and monthly / quarterly functional reviews by the CEO & Managing Director (CEO & MD). A quarterly online Controls SelfAssessment (CSA) process through

Companys own "IAssurance" tool enables process owners to perform selfassessment against the Risk and Control Matrices (RACM), helping us monitor the internal control environment. Statutory compliances are also tracked through the online Conformity tool, which is regularly updated to reflect new requirements. This reinforces our commitment to adopt the best corporate governance practices.

A Big Four firm acts as our internal auditor, systematically auditing all business aspects to provide independent assurance on control effectiveness and identify improvement areas. The Audit Committee reviews internal audit findings and monitors the implementation of Action plans. Our statutory auditor also audits the financial statements included in this Annual Report and issue an independent report on internal control over financial reporting (as defined in Section 143 of the Companies Act, 2013). The Audit Committee acts as a governing body to monitor the effectiveness of the entire IFC framework.

Internal control is an essential element of good governance. We remain committed to maintaining an effective Internal control environment that provides assurance to the Board of Directors, the Audit Committee and management that a structured system is established throughout our organisation.

Our Vision for Risk Management

Our vision for risk management is to empower our organisation to achieve its strategic objectives by embedding a proactive and comprehensive riskmanagement culture that anticipates, identifies and mitigates risks, ensuring sustainable growth and protecting stakeholder value.

The Board of Directors has constituted a Risk Management Committee (RMC) to formulate a detailed riskmanagement policy and oversee risk management processes and systems. The RMC ensures that appropriate methodologies, processes, and systems are in place to monitor the effectiveness of the risk management framework.

Our riskmanagement structure comprises the Board of Directors and the RMC at the apex level, supported by the Enterprise

Risk Management (ERM) Council. The ERM Council includes the CEO & MD, President & Chief Financial Officer,

Head of Business, Chief of Operations &

WTD, Sr. Vice President Supply Chain,

Head – Human Resources, Head – CSR,

Head Corporate Affairs, Head Risk & Management Assurance, Chief Digital & Information Officer and Head IT Security. The Head Risk & Management Assurance acts as enabler to the ERM Council and reports to the CEO & MD on all riskmanagement activities.

The ERM Council sets enterpriserisk objectives, strategies and guiding principles, establishing the overall tone for a riskminimisation culture. It identifies and prioritises key risks through sensitivity analysis and stress testing, including extreme or uncommon scenarios of risks. Risk & mitigation plans are discussed at various review forums chaired by the

CEO & MD and progress being periodically monitored.

Clear roles are defined in the Risk Management Policy for risk and mitigationplan owners (first line of ownership), the ERM Council, RMC and Board (second line of ownership for setting standards and overseeing the risk management activities), the Head of Internal Audit (third line of ownership to provide independent assurance on the effectiveness of riskmanagement activities).

The internal audit function serves as an independent reviewer and objectively assesses the companys internal controls, riskmanagement processes and compliance with operational procedures, internal policies, and regulatory requirements across the organisation.

We maintain a robust framework for identifying (including emerging) risks, prioritising, mitigating, monitoring, assessing and reporting potential internal or external risks. Processes and guidelines are maintained and a strong overview and monitoring system at the Board, RMC and ERM Council levels. We promote strong ethical culture and high level of integrity in all our activities, which in itself mitigates risk.

Risk management is continuous process: new and emerging risks are identified and added to the Risk Library, existing risks are updated in the Risk Library. and each risk is evaluated for exposure, which is based on impact and likelihood of occurrence.

This assessment is conducted using a standard riskassessment scale and risks are categorised by their overall assessment score.

The ERM Council reviews riskmanagement activities at least twice a year, defines new mitigation plans, enhances existing ones and monitors progress to stay ahead of evolving threats. The RMC

similarly reviews overall risk assessment at least twice a year and advises the Board on risk tolerance and strategy.

An external consultant periodically assesses the maturity of our riskmanagement process. Risk management is also integrated into internal audit reviews to ensure ongoing effectiveness of the risk management process.

We promote a strong risk culture across the organisation. Our Risk Culture Survey confirmed that employees understand our processes and that the framework operates training modules are provided organisationwide and RMC members receive periodic education on best practices. Employee performance appraisals include riskmanagement metrics, linking incentives to effective practices.

The ERM Council identifies and evaluates risks (both established and emerging) through brainstorming sessions, with corresponding mitigation plans. Some of the key risks and their mitigation measures are detailed below:

Description: The accelerating pace of customer expectations, heightened societal scrutiny, and increasingly stringent EHS regulations are redefining the complexity of compliance. In todays environment, any failure to secure or uphold requisite permits or to maintain regulatory alignment can expose organizations to significant risks, including regulatory fines, remediation obligations, reputational damage, personal injury claims, and potential operational disruptions.

Environmental, Health, and Safety (EHS) excellence is deeply integrated into our organizational culture through our unwavering commitment to sustainability, Responsible Care? principles, climate action, and green supply chain initiatives.

These pillars guide our operations, ensuring that we not only meet regulatory standards but also proactively contribute to a safer, healthier, and more sustainable future.

Zero Harm and Compliance:

Introduced 12 LifeSaving Rules as a cornerstone of our Zero Harm vision, reinforcing a culture of accountability, safety, and regulatory compliance. These rules serve as nonnegotiable safety principles, empowering employees to make safe choices and aligning our operations with worldclass safety standards.

EHS Assurance Function: Our EHS Assurance Function operates as a strategic governance pillar, ensuring enterprisewide implementation of advanced EHS standards. Through rigorous audits, realtime compliance tracking, and integrated assurance mechanisms, we uphold global best practices in safety, health, and environmental stewardship. A key component of this framework is the EHS assessment by Cross Functional Team, which brings together crossfunctional expertise to evaluate sitelevel EHS performance, identify systemic risks, and drive continuous improvement.

Environmental Care: Our commitment to environmental care is driven by the globally recognized 5R waste management principles—Reduce, Reuse, Recycle, Recover, and Refuse. We leverage advanced digital monitoring systems, implement zero liquid discharge processes, and invest in sustainable practices such as rainwater harvesting, solar and hybrid energy solutions, renewable fuel sourcing, and expansive greenbelt development.

These initiatives reflect our dedication to ecological responsibility and sustainable growth on a global scale.

Process Safety Enhancement: Strategic investments are continually made to upgrade process safety systems and controls, under the leadership of a dedicated EHS&S

Head. Key initiatives including Hazard Identification, Risk Assessment, Management of Change (MoC), and Recognized and Generally Accepted Good Engineering Practices

(RAGAGEP) are systematically embedded across operations to elevate our process safety standards to global benchmarks.

Digital Transformation: Implementation of advanced software tools for Process

Hazard Analysis (PHA) to improve the quality and consistency of risk assessments. Use of data analytics for incident trend analysis, enabling proactive risk mitigation and informed decisionmaking. We have adopted

UPDAPT ESG based software where we are evolving to meet the growing demands of ESG reporting and analytics, empowering organizations to make datadriven decisions with confidence and clarity. The enhanced dashboard experience will give us a cockpit view for strategic oversight which offers us a more intuitive, visually engaging interface, real time decision support with live data and trends. With the help of this we can access critical ESG metrics at a glance & provide deeper insights and predictive capabilities. It will also provide additional support to compliance and governance by keeping critical metrics visible.

Employee participation: Employee participation is encouraged through ‘Sanchetna, IRIS incident reporting, refresher trainings, Emergency

Response Teams and mock drills.

Project Apollo: To drive continuous improvement in safety, we have implemented a comprehensive Safety Improvement Plan across all operational sites. This is complemented by horizontally deployed Process Safety

Management (PSM) guidelines, ensuring consistent safety standards and best practices are maintained throughout the organization. These initiatives reflect our proactive approach to risk mitigation and operational excellence.

Occupational Health: Our Occupational

Health Centre (OHC) operates 24/7, staffed by a Qualified Factory Officer (FMO) trained in Occupational Health and Advanced Cardiac Life Support (ACLS), along with BSc/GNM Nurses trained in Basic Life Support (BLS). The OHC is accessible to all employees and visitors, addressing immediate health needs and preventing workplace injuries or illnesses through health promotion programs.

Twice a year, employees undergo health checkups, with health promotion activities planned throughout the year.

The facility supports sustainability by using energyefficient medical equipment, being mercuryfree, and ensuring sustainable biomedical waste management. Ecoconscious treatment methods, such as Antimicrobial

Resistance (AMR) strategies, are also incorporated.

Cultural Transformation: Embedded safety culture through inhouse surveys, strengthened practices, procedural enhancements, and active engagement of employees and contract workers

Regulatory Engagement: Company engages with government and industry forums to support responsible EHS regulations. A fullfledged EHS team conducts periodic safety audits and training programs to address environmental safeguards continuously

Description: Global uncertainties including commodity price volatility, dependence on concentrated markets and disruptions like the Red Sea crisis, increased US Tariffs, US China Tariff war etc. pose risks to supply chain continuity and cost structures. Additionally, trade restrictions, geopolitical tensions and economic instability can impact growth opportunities and increase input costs.

Mitigation Plan: To address these emerging risks, we have implemented a multilayered strategy:

Localization: Actively developing alternate vendors and promoting external manufacturing within India through indigenization & to reduce dependency on any particular supplier or risk prone country for business continuity.

Integrated Digital Supply Chain & Price Intelligence: Predictive analytics is helping forecast key bulk raw material trend and informed decision making. Live tracking of all purchase requests online for reducing turnaround time. Invested in tools for Exports and domestic shipment visibility to reduce detentions and improve ontime deliveries. BOTs are built to improve productivity and reduce any manual errors and interventions.

Agile Business and Operations Planning: Monthly planning / scheduling reviews along with Business and continuous SCM updates to Management increases the agility in

Business operations in volatile times.

Regular Market feeds shared by SCM with Business for timely and informed decisions.

Contractual Adjustments: We have arrived at a healthy mix of Contractual and Spot arrangement with Suppliers to maximise market price advantages and volume security.

Supplier & Logistics Collaboration:

Maintaining strong relationships with suppliers and logistics partners through regular engagement to ensure timely and costeffective deliveries.

Response to increased US Tariffs: Engaging with authorities, shifting shipments to CIF terms and building local inventory to ensure cost efficiency and supply continuity during the interim period.

Inadequate Research & Development Risk: Description: The effectiveness of our Research & Development (R&D) function is critical to deliver innovative, costeffective, and highquality products. Any shortfall in meeting business expectations such as target product costs, scalability, or regulatory compliance can delay product launches, reduce market competitiveness and impact financial performance.

Additionally, emerging technologies and evolving standards pose a risk if not proactively addressed.

Mitigation Plan: To address these risks, we have implemented a comprehensive and integrated strategy:

Product Innovation & Development: Dedicated team actively works on new products, with close collaboration across R&D, sales and plant functions to accelerate timetomarket.

Sustainability: R&D continuously improves existing processes to enhance cost efficiency, carbon footprint, and atom economy. Initiatives include green chemistry, process intensification through catalysis, and development of environmentally friendly manufacturing methods with fewer steps and lower utility consumption.

Institutionalized Quality by Design

(QbD), stagegate tools, and proven methodologies ensure timely, costeffective, and scalable product launches. The agile development process enables rapid response to commercial needs while maintaining alignment with regulatory standards, process safety and industry best practices.

Acquisition: Strengthened R&D through strategic capability building and targeted talent acquisition. A dedicated team is driving cost optimisation and effluent management, supported by infrastructure expansion and development of new technology platforms including flow chemistry etc.

Leveraging Generative AI: To accelerate development cycles, improve predictive insights and enhance process design

Delay in Growth Projects / Capex Risk Description: Investments in new technologies and largescale growth projects inherently carry risks related to stabilization, troubleshooting, and implementation delays. Such setbacks can impact launch timelines, cost efficiency, and revenue growth.

Mitigation Plan: To address these risks, we have implemented a robust framework and key mitigation plan includes:

Setting up of dedicated Technology Cell: Established a dedicated cell led by experts to oversee new product delivery from concept to commissioning.

Enhanced Design & Engineering Capabilities: Enhanced Design & Engineering, building R&D and pilot plant capabilities, standardizing plant design by engaging Top tier consultant and experts. Streamlining process and improving overall efficiency.

Established a Project Management Office (PMO) to enhance planning and execution through turnkey solutions, digital monitoring platforms, and structured weekly management reviews.

Continuously Adopting Advanced Technologies: Adopted advanced 3D modelling and design technologies to enhance plant engineering and ensure efficient project management.

Loss of Market & Competitiveness Risk Description: A significant share of our business comes from exports, and we face stiff competition in domestic and international markets. Manufacturers in

China who gain from economies of scale, favourable policies, and lower costs may adversely affect our ability to maintain market leadership, achieve planned growth, and generate planned margins. Price wars, lowcost new entrants, and regulatory shifts can impact our market share, margins, and growth trajectory.

Mitigation Plans: To combat the risk of rising competition and to ensure that cost competitiveness is maintained, we continue to explore all options, including:

Commercializing advanced specialty intermediates and ingredients, including cosmeticgrade Niacinamide, Diketene derivatives, and forwardintegrated Pyridine platforms.

Portfolio Optimisation: Expanding and refining our product mix across nutrition and other categories, including herbal vitaminmineral premixes and multitiered pricing strategies.

Geographical Expansion & Strategic Customer Engagement: Penetrating new markets and strengthening key account relationships through tailored offerings and longterm contracts with volumelinked pricing.

Flexible Pricing Strategy: Adopting dynamic pricing and supply models based on market intelligence and demandsupply trends.

Operating multipurpose plants for product expansion, and driving manufacturing efficiency improvement plans by undertaking projects under the Business Excellence programme and applying many tools and techniques, e.g. SURGE,

Six Sigma,5S and Total Productive Maintenance.

Supplier Network Strengthening: Building a robust supplier base and optimizing inventory through microlevel planning to mitigate input cost and availability risks.

Growth Acceleration & Strategic Partnerships: Exploring M&A opportunities, forming strategic alliances, and driving transformation through a dedicated Transformation Management Office (TMO)

Human Resource Risk: Acquiring and Retaining Skilled Talent Description: The strength of our organisation lies in the capabilities and commitment of our people. As we continue to pursue ambitious growth, the ability to attract, retain and develop skilled talent remains a critical success factor. In a rapidly evolving business landscape, human resources must adapt to ensure operational excellence and business continuity. Any lapse in talent management, compliance or workforce development poses a significant risk to our longterm investing in sustainability.

Mitigation Plan: To proactively address this challenge, we have implemented a comprehensive and forwardlooking HR strategy:

Strategic Talent Framework: We have implemented a comprehensive framework that integrates succession planning, early talent development through structured GET & MT program to build future ready pipeline and targeted retention initiatives for highpotential employees to ensure continuity in leadership and critical roles.

Acquiring the Right Talent: We place strong emphasis on placing the right people in the right roles at the right time. Our talent acquisition strategy is designed to align hiring with strategic business needs, identify bestfit candidates and build a resilient workforce capable of adapting to evolving market demands.

Capability Building: To foster continuous growth and adaptability, we have invested in multiskilling and job rotation programs that enhance versatility and crossfunctional expertise We have introduced academybased learning for rolebased leadership and functional skill development in key areas such as sales and operations.

Inclusion & Diversity: We are committed to creating an inclusive workplace that values diversity and promotes equal opportunity through gender diversity programs and policies that foster a culture of belonging.

Empowering our managers is central to building a highperforming culture. We have equipped our managers with tools and training to lead inclusive teams with reinforced accountability and ownership in managerial roles.

PerformanceLinked Rewards: To drive excellence and motivation, we have introduced performancebased compensation structures, recognition programs that celebrate individual and team achievements and transparent reward mechanisms aligned with business outcomes.

This multipronged approach reflects on our commitment to building a resilient, futureready workforce that can drive sustainable growth and innovation.

Regulatory & Compliance Risk Description: We operate in a highly regulated environment with evolving global and domestic compliance requirements. Our businesses spanning Specialty Chemicals, Agro chemicals, Health & Nutrition etc. must meet stringent laws and BIS standards. Regulatory changes or approval delays can impact timelines, raise costs, or limit market access. Noncompliance may lead to penalties and reputational harm.

Compliance Committee: A dedicated committee periodically reviews compliance status and audit findings

Realtime tracking of regulatory changes and facilitywide compliance monitoring. Regular engagement with regulators, customers, and internal teams ensures proactive compliance.

Training & Awareness: Periodic trainings and plant visits to educate users on compliance adherence & reporting.

Enhanced Regulatory Processes: Strengthened Research and Development capabilities for faster testing, timely submissions and quicker product launches.

Description: As our business backbone,

IT faces threats like IP theft, OT attacks, phishing, malware, ransomware, credential stuffing and accidental data sharing, could disrupt systems and operations.

Information Security Systems & Compliance: ISO 27001 certified IT processes adhere to NIST Cybersecurity

Framework, annual audits cover networks, OS, firewalls, software licences, with corrective actions driven byfindings

Incident Management & Cyber Defence: Cyber Defence Centre logs and monitors security events 24/7, Cyber Working Groups and Integrated Information Security Compliance Framework guide governance.

Incident Management & Cyber Defence: Cyber Defence Centre logs and monitors security events 24/7, Cyber Working Groups and Integrated Information Security Compliance Framework guide governance.

ESG & Sustainability Risk Description: ESG performance influences investor, customer and stakeholder decisions. Failure to meet benchmarked ESG performance standards can harm competitiveness and reputation.

We deliver targeted ESG training and competency building; ESG rating requirements are communicated to relevant teams.

ESG Initiatives include GHG emission and energy reduction, renewable energy sourcing, waste diversion from landfill towards circular economy, water conservation including Rainwater Harvesting, enhancing Biodiversity, promoting gender diversity, Zero Harm and Social Entrepreneurship.

Supplier Engagement Assessment and ‘B‘ for Climate.

Individual & Group Activism Risk Description: Heightened NGO and activist scrutiny over environmental issues may trigger complaints, fines or operational disruptions.

Regular communityinterface meetings at each site to address concerns.

Social projects in health, education and livelihood sectors to build trust.

Perception studies gauge communication effectiveness.

SOPs and assigned responsibilities manage activism incidents.

Failure to adopt and integrate digital technologies such as Artificial

Intelligence, Data Science, Internet of Things (IoT), and Robotics may adversely impact the Companys growth, yield, efficiency, productivity, procurement processes, and customer experience.

Digital Transformation Program:

Jubilant Ingrevias "SURGE" program is a pioneering digital transformation initiative in the chemical manufacturing industry. With over 60+ initiatives spanning the entire value chain,

SURGE has significantly enhanced Manufacturing, Sales, and Supply Chain operations by implementing Digital

Twin technology across more than 27 plants, establishing a model plant at

Bharuch, deploying advanced AI/MLbased platforms, building robust internal digital capabilities, training over 300 employees, and earning widespread industry recognition for its leadership in digital innovation. Jubilant Ingrevia aims to Pioneer in adoption of 4IR digital technology in Chemical Manufacturing

Industry while delivering clear business value.

AI, Gen AI & Process Automation interventions across domains: Jubilant Ingrevia is deploying targeted digital solutions across functions to drive efficiency, optimise resources, and enhance visibility. Key initiatives include AP automation and bank recon bots in Finance, raw material price prediction in Supply Chain, AIbased

ROS identification and Gen AI based interventions in R&D, digital project management tools in Projects, and customer interaction bots etc.

Words such as "anticipate," "believe," "estimate,"

"expect," "intend," "may," "plan," "will," "project," and other similar expressions are intended to identify such forwardlooking statements. These statements include, but are not limited to, projections of revenue, profitability, market demand, business strategies, future plans, and the impact of regulatory and economic conditions.

Actual results may differ materially from those expressed or implied in these statements due to various factors, including changes in raw material prices, supply chain disruptions, regulatory developments, environmental conditions, global and domestic economic trends, foreign exchange fluctuations, competitive dynamics, and other risks beyond the Companys control.

Jubilant Ingrevia Limited assumes no obligation to update any forwardlooking statements, whether as a result of new information, future events, or otherwise, unless required by applicable laws.