Valiant Organics Limited has informed the Exchange about Investor Presentation
July 01, 2025
To, Listing / Compliance Department BSE LTD Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400 001 SCRIP CODE – 540145
Dear Sir / Madam,
Sub: Investors Presentation
To, Listing / Compliance Department National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block Bandra-Kurla Complex, Bandra (E), Mumbai- 400 051. SYMBOL- VALIANTORG
In continuation of our intimation dated May 30, 2025 and Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Investors’ Presentation for Q4 FY 2024-25 Results of Valiant Organics Limited (the “Company”).
A copy of aforesaid www.valiantorganics.com.
Investor Presentation
is also hosted on
the website of Company
Please take the same on your records.
Thanking you,
Yours faithfully,
For Valiant Organics Limited
Mahek M. Chheda Executive Director DIN: 06763870
Regd. Office:109, Udyog Kshetra, 1st Floor, Mulund Goregaon Link Rd, Mulund West, Mumbai 400080, India. +91 22 6797 6683 • info@valiantorganics.com • www.valiantorganics.com CIN NO.: L24230MH2005PLC151348
I n v e s t o r P r e s e n t a t i o n | J u n e 2 0 2 5
1
SNAPSHOT
One of the largest chlorophenol derivatives manufacturer globally
One of the leading manufacturer of Benzene derivatives products
One of the largest domestic PNA manufacturer
One of the few commercial players in Ortho Anisidine and Para Anisidine
Amongst 1st few domestic PAP Manufacturers
Diversified client base across Pharmaceuticals, Dyes & Pigments, Agrochemicals and specialty chemicals.
6 Manufacturing units across 5 Locations
5 Zero Liquid Discharge plants
Total Production Capacity of 70,000 TPA
900+ Employees
2
COMPANY OVERVIEW
3
Company Overview
Valiant Organics Limited was incorporated in 1984 by first generation technocrats and is headquartered out of Mumbai, India.
The company is focused on the manufacturing and marketing of specialty chemicals which find usage in a variety of industries, including agrochemicals, pharmaceuticals, dyes, pigments, and veterinary medications.
Key chemistries include Chlorination, Hydrogenation, Ammonolysis, Acetylation, Sulphonation, Methoxylation amongst others.
Over the years the company has primarily focused on manufacturing specialty chemicals that have a high demand but low supply and are primarily dependent on imports.
The company is listed on both the BSE and NSE with a market capitalization of INR ~ 7,300 Mn. as on 31st March, 2025.
Operating Revenue (INR Mn) and EBITDA Margin (%)
FY25 Revenue Break-up – Chemistries
FY25 Revenue Break-up – End user Industry
11,533
10,518
17.77%
15.62%
14000
12000
10000
8000
6000
4000
2000
0
7,231
5.28%
FY22
FY23 Revenue
FY24
EBITDA Margin
50.00%
45.00%
40.00%
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
7,188
7.47%
FY25
Others, 5%
Chlorination, 20%
Ammonolysis, 28%
Hydrogenation, 47%
Dyes & Pigments; 52%
Pharmaceuticals; 13%
Specialty Chemicals; 10%
Agro Chemicals; 25%
*Pursuant to the allotment of further equity shares through IPO by the Company's material step down subsidiary namely, Valiant Laboratories Limited ("VLL"), the stake of Company's subsidiary Dhanvallabh Ventures LLP in VLL has been diluted to 46.83% and accordingly VLL has ceased to be a step down subsidiary of the Company and has became an associate company w.e.f. October 04,2023. Hence, consolidated financial of previous periods and YTD results are not comparable.
Valiant Organics Limited | June 2025
4
Board of Directors
Shri Navin C. Shah (Chairman & Independent Director)
Shri Sathiababu K. Kallada (Managing Director)
Shri Mahek M. Chheda (Executive Director & Chief Financial Officer )
Shri Nemin Savadia (Executive Director)
Shri Siddharth Shah (Executive Director)
Shri Parimal H. Desai (Managing Director)
Shri Santosh S. Vora (Non-Executive Director)
Dr. Kiritkumar H. Desai (Non-Executive Director)
Shri Paras S. Savla (Independent Director)
Smt. Sonal A. Vira (Independent Director)
Dr. Sudhirprakash B. Sawant (Independent Director )
Valiant Organics Limited | June 2025
5
Key Milestones
Expanded product range to include Chlorophenols, for usage in intermediates in Pharmaceuticals, Pesticides, Disinfectants, Anti-bacterial applications and Veterinary Drugs
Commenced Exports
Converted into Limited Company
Acquired Abhilasha Tex Chem Pvt. Ltd; added ammonolysis the to product portfolio
a
large
Emerged as a major supplier of Chlorophenols in India and the global markets. Acquired Amarjyot Chemicals, specialised chemical maker and supplier, with factories Jhagadia and Ahmedabad. Added hydrogenation, sulphonation and nitration to the chemistry competence basket
in Vapi,
Listed on the NSE in July. Completed Phase 1 of the PAP factory and commenced the development a multipurpose pharma intermediaries plant
of
Achieved ramp up of PAP to over 400 MT per month and commenced also the pharma intermediaries plant
1997
2008
2015
2017
2019
2021
2023
1984
2005
2013
2016
2018
2020
2022
as Established Valiant Chemical Corporation with a single product – Meta Chloroaniline
Incorporated as a private limited company
Increased installed capacity from 3,000 MTPA 4,800 to MTPA
Listed on the SME board of the BSE
Environment al approval to increase chlorophenol to capacity 21,600 MTPA
Listed on the BSE main board. Commenced ammonolysis expansion at the Vapi facility. Completed the integration backward ONA/OA of the integration. Added PNA/ PA to the product portfolio
PAP Overcame product issues and ramped production in batch process
the
Valiant Organics Limited | June 2025
6
Manufacturing Footprint
CHLORINATION – SARIGAM • Capacity: 18,000 MTPA • Products: PCP, OCP, 2,4 DCP, 2,6 DCP, 2,4,6 TCP
AMMONOLYSIS - VAPI • •
Capacity: 9,000 MTPA Products: PNA, OCPNA
AMMONOLYSIS - TARAPUR • Capacity: 6,600 MTPA • Products: PNA
HYDROGENATION & METHOXYLATION- JHAGADIA UNIT 1 • •
Capacity: 27,000 MTPA Products: ONA/OA, PNA/PA, IPPCA, CONVERSION PRODUCTS
HYDROGENATION – JHAGADIA UNIT 2 • •
Capacity: 12,000 MTPA Products: PAP, PHARMA INTERMEDIATES
ACETYLATION & SULPHONATION – AHMEDABAD • •
Capacity: 1,800 MTPA Products: 6 ACETYL OAPSA, OA/PA ACETANILIDE, OT5SA
Valiant Organics Limited | June 2025
7
Key Strengths
Domain expertise and broad process understanding in a variety of chemistries. The executive team is made up of first-generation technocrats with more than 50 years of collective expertise.
Wide supply chain provides the continuous availability of adequate and high-quality raw materials and manufacturing.
Plant locations are strategically located near ports to provide a competitive advantage, significant logistical cost savings, and faster delivery times.
Robust Business Model
Integrated Operations
Strong Customer Relations
Distinct Product Portfolio
Domain Knowledge
Widespread Supply Chain
Strategic Location of Plants
Diverse product range and client base across numerous industries and countries provides a sustainable business model in multiple chemistries by lowering product, industry, and geographical risk.
Multi-use and backward integrated plants to produce a wide range of products and tailor them to meet the diverse needs, technical qualifications, batch sizes, and delivery schedules of our clients.
Established multi-year relationships with clients in both domestic and international markets due to high-quality standards, innovative production capabilities.
Manufacturing a diverse range of intermediates as well as value-added products for a variety of industries.
Valiant Organics Limited | June 2025
8
Capex Projects
Product
Project Status
Remarks
Ongoing Projects
Ortho Amino Phenol (OAP)
Expected to commence
• Currently, entirely imported in India • Part of the production will be utilized as forward integration for one of company's existing products • Trial run successful however, further improvement is still required
Valiant Organics Limited | June 2025
9
BUSINESS OVERVIEW
10
Chemistries And Product Basket
Ammonolysi sKey Products:
Para Nitro Aniline
• • Ortho Chloro Para Nitro
Aniline
Industries Served: • •
Dyes Pigments
FY25 Revenue Share
47%
11
28%
Hydrogenation
Key Products: • Ortho Anisidine Para Anisidine • IPPCA • • Meta Chloro Aniline • Para Amino Phenol • Ortho Amino Phenol
Industries Served: Dyes • Pigments • Pharmaceutical • Agro Chemicals •
Others Acetylation Key Products: • • OA Acetanilide PA Acetanilide •
6 Acetyl OAPSA
Sulphonation Key Products: • OT5SA 4B Acid • 2B Acid •
Methoxylation Key Products: • Ortho Nitro Anisole Para Nitro Anisole
•
Industries Served: • Dyes
Industries Served: • Dyes • Pigments
Industries Served: • Dyes • Pigments
5%
20%
Chlorination
Para ChloroPhenol (PCP)
Key Products: • • Ortho ChloroPhenol (OCP) • • •
2,4 Di Chlorophenol (2,4 DCP) 2,6 Di ChloroPhenol (2,6 DCP) 2,4,6 Tri ChloroPhenol (2,4,6 TCP)
Industries Served: • • • •
Agro Chemicals Cosmetics Veterinary Pharmaceuticals
Valiant Organics Limited | June 2025
11
Chlorination
Any reaction in which chlorine or chlorine compounds are introduced into a molecule to obtain the desired outcome is known as chlorination.
• Valiant is the only domestic player and also a global leader in Chlorophenol products with ~25% global
market share.
• The company has over two-decade experience in Chlorophenols, with long-term relationships with global marquee customers due to their high-quality products and efficient supply chain management.
• The Sarigram plant of the company is dedicated for the chlorination process, with a capacity of 18,000 MTPA, and a Zero Liquid Discharge facility and highly automated Distributed Control Systems significantly reducing manual interventions.
• More than 50% of sales come from export markets.
Key Products:
• Para ChloroPhenol (PCP)
• Ortho ChloroPhenol (OCP)
• 2,4 Di Chlorophenol (2,4 DCP)
• 2,6 Di ChloroPhenol (2,6 DCP)
• 2,4,6 Tri ChloroPhenol (2,4,6
TCP)
*Revenue figures are on Standalone basis
Valiant Organics Limited | June 2025
Industries Served:
• Agro Chemicals
• Cosmetics
• Veterinary
• Pharmaceuticals
Revenues (INR Mn)*
2,765
1,903
1,653
1,394
FY22
FY23
FY24
FY25
Sales Volumes (MT)
16,298
9,802
10,213
10,112
FY22
FY23
FY24
FY25
3,000
2,500
2,000
1,500
1,000
500
-
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
-
12
Ammonolysis
Ammonolysis is a high-pressure chemical reaction done in an auto clave where ammonia is used as a reactant.
• Valiant developed Ammonolysis capabilities as a result of its two acquisitions. i.e. Abhilasha Tex
Chem Pvt. Ltd. in 2017 & Amarjyot Chemicals Ltd. in 2019.
• The company has an approximately 15,600 MTPA capacity for this process, making it one of the
largest players in the domestic market.
• Valiant has two dedicated manufacturing facilities located at Tarapur and Vapi to carry out the
ammonolysis process.
• The company supplies its products to almost all the leading Dye manufacturers in the country, and has a leadership position in manufacturing PNA due to its raw material security of PNCB from group company, Aarti Industries.
Key Products:
• Para Nitro Aniline (PNA)
• Ortho Chloro Para Nitro Aniline
Industries Served:
• Dyes
• Pigments
*Revenue figures are on Standalone basis
Valiant Organics Limited | June 2025
Revenues (INR Mn)*
2,917
2,666
1,962
1,993
FY22
FY23
FY24
FY25
Sales Volumes (MT)
12,617
11,394
10,855
10,220
3,500
3,000
2,500
2,000
1,500
1,000
500
-
14,000
12,000
10,000
8,000
6,000
4,000
2,000
-
FY22
FY23
FY24
FY25
13
Hydrogenation
Hydrogenation is a chemical reaction between molecular hydrogen (H2) and another compound or element, usually in the presence of a catalyst.
• The company has manufacturing facilities in Jhagadia for Hydrogenation. The first unit (also named as Unit 1) has a capacity of 27,000 MTPA which became a part of Valiant Organics through the amalgamation of Amarjyot Chemicals in 2019.
•
It has also ventured into the manufacturing of 2 new products in FY21 of Ortho Anisidine (OA) and Para Anisidine (PA), as well as expanded the capacity of a couple of existing products.
• The company also does contract manufacturing for a few leading domestic clients for some key
customized products from these plants.
Para Amino Phenol (PAP) is an essential element in the synthesis of paracetamol.
• PAP is a difficult product to make and is primarily an import substitute product in India.
• Due to the company’s strong experience and significant efforts on R&D, as well as raw material security of PNCB from its group company, Aarti Industries Ltd, it became one of the first companies in India to commercialize the plant for manufacturing Para Amino Phenol (PAP) in FY21 in Jhagadia Unit 2 with a capacity of 12,000 MTPA.
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
-
Revenues (INR Mn)*
4,331
2,948
2,865
3,395
FY22
FY23
FY24
FY25
Sales Volumes (MT)
• Being a difficult product to manufacture, the company is currently focusing on achieving process
consistencies and expect ramp of production in FY23.
14,876
17,250
15,733
17,444
• Majority of its PAP production will be sold to Valiant Laboratories Ltd, which is the subsidiary of the
company.
Key Products:
• Ortho Anisidine
• Para Anisidine
•
IPPCA
• Meta Chloro Aniline
• Ortho Amino Phenol
• Para Amino Phenol
Industries Served:
• Dyes
• Pigments
• Pharmaceuticals
• Agro Chemicals
*Revenue figures are on Standalone basis
Valiant Organics Limited | June 2025
FY22
FY23
FY24
FY25
14
Other Processes
Acetylation
Acetylation is a chemical reaction which introduces an acetyl functional group into a chemical compound.
• The acetylation procedure is carried out at the company’s Ahmedabad facility which has a capacity of
1,800 MTPA
• The key product under this segment is ‘6 Acetyl Ortho Aminophenol Para Sulfonic Acid’, which finds
its usage in dye intermediates.
• Valiant also does job work and helps in multiple conversions on annual contracts.
Sulphonation
Sulfonation is an organic reaction in which a hydrogen atom on an arene is replaced by a sulfonic acid functional group in an electrophilic aromatic substitution.
• Like acetylation, the sulphonation procedure is also carried out at the company’s Ahmedabad facility.
• The products Ortho Toluidine 5 Sulfonic Acid (OT5SA), 2-Amino-5-Methyl benzene sulfonic Acid (4B Acid), & 2-Amino-4-Chloro-5 Methyl Benzene sulfonic Acid (2B Acid) are used as dye and pigment intermediaries.
Methoxylation
• The products, Ortho Nitro Anisole (ONA) & Para Nitro Anisole (PNA) are being captively consumed to
manufacture Ortho Anisidine (OA) and Para Anisidine (PA).
• This process is carried out along with hydrogenation at Unit 1 of the Jhagadia facility.
Revenues (INR Mn)*
855
564
441
375
FY22
FY23
FY24
FY25
Sales Volumes (MT)
1,531
1,119
1,234
887
FY22
FY23
FY24
FY25
900
800
700
600
500
400
300
200
100
-
1,800
1,600
1,400
1,200
1,000
800
600
400
200
-
*Revenue figures are on Standalone basis
Valiant Organics Limited | June 2025
15
INDUSTRY OVERVIEW
17
Industry Overview
•
Expansive Product Portfolio: India's chemical landscape is vast, boasting over 80,000 commercial products, offering a diverse array of solutions to global demands.
Global Chemical Market (USD Bn)
• Global Manufacturing Powerhouse: Positioned as the 6th largest manufacturer of chemicals worldwide and the 3rd largest in Asia, India
Commodity Chemicals
commands a significant presence on the global stage.
8,000
7,000
Specialty Chemicals
•
Staggering Growth Trajectory: The Indian chemical industry, valued at USD 178 billion in FY 2019-20, is poised for meteoric growth, projected to soar to USD 300 billion by 2024-25 and an impressive USD 1 trillion by 2040.
6,000
Others
• Dominance in Specialty Chemicals: With the Asia Pacific region commanding nearly half of the global specialty chemicals market, India stands as a
dominant force, expected to elevate its share to 4% by 2027, catalyzing further industry expansion.
•
•
•
Surpassing Projections: Forecasts indicate that India's specialty chemicals market will outpace China, with a projected market share of 6% by 2026, fueled by a robust surge in domestic demand and export prowess.
Investment Surge: A resurgence in domestic demand coupled with robust export performance is propelling a remarkable 50% year-on-year increase in capex for specialty chemicals manufacturers, reaching INR 6,000-6,200 Crs (USD 815-842 Mn) in FY22.
Rising Domestic Demand: Anticipated growth in domestic demand signals a monumental shift, with projections soaring from USD 170-180 billion in 2021 to an impressive USD 850-1,000 billion by 2040.
• Global Trade Leadership: India's prowess in global chemical trade is undeniable, ranking 14th in exports and 8th in imports worldwide (excluding
pharmaceuticals), underlining its pivotal role in global supply chains.
• Disruption Spurs Opportunity: Supply disruptions in China have catalyzed a strategic shift in global end-user industries towards Indian players,
underscoring India's resilience and reliability as a preferred partner.
• Government Support: Recognizing the industry's pivotal role, the government has allocated INR 209crs (USD 27.43 million) in the Union Budget
for 2022-23, reaffirming its commitment to fostering growth and innovation.
• Driving Global Innovations: India and China's prominence in dye production presents a promising avenue for printing inks applications across the
Asia Pacific, with India contributing significantly to global dye production.
•
•
Agrochemical Advancements: A cornerstone of India's chemical sector, agrochemicals drive substantial revenue, with 50% of production earmarked for exports, highlighting India's pivotal role in global agricultural sustainability.
Insecticides share: 53% of the total domestic agrochemicals market, followed by Herbicides.
5,000
4,000
3,000
2,000
1,000
-
350
300
250
200
150
100
50
-
910
1090
4,780
435
847
337
696
3,187
3,745
2015
2020
2025F
Indian Chemical Market (USD Bn)
Commodity Chemicals
Specialty Chemicals
Others
8
53
55
15
87
84
45
148
137
2015
2020
2025F
Valiant Organics Limited | June 2025
17
Key Growth Factors
I
A D N
I
E G A T N A V D A
GROWING DEMAND
OPPORTUNITIES
POLICY SUPPORT
INCREASING INVESTMENT
• Rise in demand from end-users Industries such as food processing, personal care & home care is driving development of different segments specialty chemical market.
India’s
in
• Chemicals
and
petrochemicals demand in India is expected to nearly triple and reach USD 1 trillion by 2040
•
India is the 6th largest producer of chemicals in the world and 3rd in Asia, contributing 7% to India’s GDP.
Source: Ibef
Valiant Organics Limited | June 2025
the
• Supply disruption in China has caused end-user industries to diversify their vendor base mainly Indian players.
towards
global
• Closure of plants in the EU and increasing China due environmental have favoured Indian manufacturers to specialty invest chemicals.
to concerns
further
in
• With Global companies seeking to de-risk their supply chains, which are dependent on China, the chemical sector in India has the opportunity significant for growth
a
• The
a
government
plans to implement production-link incentive system with 10-20% output the agrochemical sector; to create an end-to-end manufacturing ecosystem through the growth of clusters.
incentives
for
•
In Union Budget for 2022-23, government allocated INR 209crs (USD 27.43 million) the chemical sector.
to
• FDI
inflows amounting to USD 22.87 billion (Since April 2000 - Sept 2024) which is ~3% of total FDI equity inflows in India.
• An investment of INR 8 lakh crore (USD 107.38 billion) is estimated in the Indian chemicals and petrochemicals sector by 2025.
• Prime Minister, Mr. Narendra Modi, laid the foundation stone of development projects worth more than INR 50,700 crore (USD 6.11 billion) on September 14, 2023.
18
FINANCIAL OVERVIEW
20
Historical Consolidated Income Statement
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Finance Cost
PBT (Excl. Exceptional Items)
Exceptional Items
Share of Profit/(Loss) of Associates
PBT
Tax
PAT
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Basic/Diluted EPS (INR)
Valiant Organics Limited | June 2025
FY22
11,533
9,484
2,049
17.77%
74
296
65
1,762
-
-
1,762
483
1,279
11.09%
6
1,285
40.51
FY23
10,518
8,875
1,643
15.62%
80
292
108
1,323
49
-
1,372
346
1,026
9.75%
1
1,027
31.50
FY24
7,231
6,849
382
5.28%
93
349
163
(37)
(34)
(16)
(87)
(3)
(84)
(1.16)%
7
(77)
(3.00)
FY25
7,188
6,651
537
7.47%
86
358
236
29
-
(7)
22
56
(34)
(0.47)%
(10)
(44)
(1.24)
Consolidated Balance Sheet
Particulars (INR Mn)
FY23
FY24
FY25
Particulars (INR Mn)
EQUITY a) Equity Share Capital b) Other Equity c) Optionally Convertible Preference Shares d) Non Controlling Interest
LIABILITIES Non-Current Liabilities
Financial Liabilities a) Borrowings b) Lease Liabilities c) Other Financial Liabilities d) Provisions e) Deferred Tax Liabilities (Net) Current Liabilities
a) Financial Liabilities (i) Borrowings (ii) Trade Payables (iii) Other Financial Liabilities (iv) Lease Liabilities b) Other Current Liabilities c) Provisions
7,401 272 6,616 4 509
7,293 276 7,017 - -
7,253 280 6,973 - -
1,064
1,071
888
706 11
15 332 3,927
2,018 1,656 200 2 21 30
742 2 16 19 292 4,116
1,823 2,075 157 2 22 37
507 1 14 22 344 3,688
1,978 1,487 158 2 16 47
Non-Current Assets a) Property, Plant and Equipment c) Right-Of-Use Assets b) Capital Work In Progress d) Other Intangible Assets e) Goodwill on Consolidation f) Financial Assets (i) Investments (ii) Other Financial Assets g) Other Non-Current assets Current Assets a) Inventories b) Financial Assets (i) Investments (ii) Trade Receivables (iii) Cash and Cash Equivalents (iv) Other Bank balances (v) Loans (vi) Other financial assets
c) Other Current Assets d) Current Tax Assets (Net)
FY23
7,682 6,565 12 709 2 123
37 68 166 4,710 1,262
375 2,543 78 4 8 36 308 96
FY24
FY25
8,352 6,297 5 861 2 123
953 54 57 4,128 1,142
33 2,094 35 3 492 29 173 127
8,269 6,437 3 657 5 123
936 57 51 3,560 890
- 1,769 71 5 492 55 157 121
GRAND TOTAL - EQUITIES & LIABILITES
12,392
12,480
11,829
GRAND TOTAL – ASSETS
12,392
12,480
11,829
Valiant Organics Limited | June 2025
21
Historical Standalone Income Statement
Particulars (INR Mn)
Revenue from Operations
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Finance Cost
PBT (Excl. Exceptional Items)
Exceptional Items
PBT
Tax
Profit After Tax
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Diluted EPS (INR per share)
*FY21 onward figures as per Ind AS
Valiant Organics Limited | June 2025
FY22
9,484
7,811
1,673
FY23
9,116
7,817
1,299
17.64%
14.25%
33
273
64
1,369
-
1,369
340
1,029
10.85%
8
1,037
36.81
29
276
105
947
49
996
240
756
8.29%
(11)
745
27.02
FY24
6,772
6,376
396
5.85%
29
340
194
(109)
58
(51)
(21)
(30)
(0.44)%
7
(23)
(1.09)
FY25
7,188
6,651
537
7.47%
81
358
236
24
-
24
54
(30)
(0.42)%
(9)
(39)
(1.09)
22
Standalone Balance Sheet
Particulars (INR Mn) EQUITY
a) Equity Share Capital
b) Other Equity
FY23 6,661
272
6,385
c) Optionally Convertible Preference Shares
4
LIABILITIES
Non-Current Liabilities
Financial Liabilities
a) Borrowings
b) Lease Liabilities
c) Other Financial Liabilities
d) Provisions
e) Deferred Tax Liabilities (Net)
Current Liabilities
a) Financial Liabilities
(i) Borrowings
(ii) Trade Payables
(iii) Other Financial Liabilities
(iv) Lease Liabilities
b) Other Current Liabilities
c) Provisions
d) Current Tax Liabilities (Net)
932
589
2
15
326
3,465
1,602
1,643
179
2
11
28
-
FY24 6,649
276
6,373
-
1,071
742
2
16
19
292
3,703
1,410
2,075
157
2
22
37
-
FY25 6,616
280
6,336
888
507
1
14
22
344
3,289
1,607
1,460
156
2
17
47
Particulars (INR Mn) Non-Current Assets
a) Property, Plant and Equipment
b) Right-Of-Use Assets
c) Capital Work In Progress
d) Other Intangible Assets
e) Financial Assets
(i) Investments in Subsidiaries
(ii) Other Investments
(iii) Loans
f) Other Non-Current assets
Current Assets
a) Inventories
b) Financial Assets
(i) Investments
(ii) Trade Receivables
(iii) Cash and Cash Equivalents
(iv) Other Bank balances
(v) Loans
(vi) Other financial assets
c) Other Current Assets
d) Current Tax Assets (Net)
FY23 7,424
6,092
4
702
2
489
37
55
43
3,634
1,137
2
2,118
63
3
7
29
198
77
FY24 7,818
6,297
5
861
2
489
53
54
57
3,605
1,142
-
2,094
33
3
6
29
171
127
FY25 7,750
6,437
3
657
5
498
43
57
50
3,043
890
1,742
71
4
6
55
156
119
GRAND TOTAL - EQUITIES & LIABILITES
11,058
11,423
10,793
GRAND TOTAL – ASSETS
11,058
11,423
10,793
Valiant Organics Limited | June 2025
Consolidated Financial Highlights
Operational Revenue (INR Mn)
EBITDA (INR Mn) & EBITDA Margins (%)
PAT (INR Mn) & PAT Margins (%)
11,533
10,518
7,231
7,188
2,049
1,643
FY22
FY23
FY24
FY25
FY22
FY23
FY24
FY25
17.77%
15.62%
382
5.28%
537
7.47%
10,000
7,500
5,000
2,500
-
Net Debt to Equity (x)
0.64
0.32
0.32
0.33
Net Worth (INR Mn)
5,850
5,830
5,698
6,000
5,800
5,600
5,400
5,200
5,000
4,800
4,600
5,220
FY22
FY23
FY24
FY25
FY22
FY23
FY24
FY25
1,400
1,100
800
500
200
-100
-400
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
-5.00%
1,279
1,026
11.09%
9.75%
FY22
FY23
-84
FY24
-34
FY25
-1.16%
-0.47%
Return on Capital Employed & Return on Equity (%)
26.31%
22.10%
ROCE
ROE (%)
17.56%
14.77%
1.26%
2.72%
FY22
FY23
-1.14%
FY24
-0.47%
FY25
Valiant Organics Limited | June 2025
24
Capital Market Information
Share Price up to 31st March, 2025
30%
10%
-10%
-30%
-50%
-70%
Apr-24
May-24
Jun-24
Jul-24
Aug-24
Sep-24
Oct-24
Nov-24
Dec-24
Jan-25
Feb-25
Mar-25
Price Data (As of 31st March, 2025)
Face Value
Market Price
52 Week H/L
Market Cap (Mn)
Equity Shares Outstanding (Mn)
1 Year Avg Trading Volume (‘000)
INR
10.0
260.3
455.2/225.0
7,288.2
28.0
68.6
Valiant Organics
Sensex
Shareholding pattern (As of 31st March, 2025)
FII; 0.37%
DII; 0.00%
Promoters; 37.91%
Public; 61.72%
Valiant Organics Limited | June 2025
25
Disclaimer
Valiant Organics Limited No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Valiant Organics Limited (“Company”), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.
Valorem Advisors Disclaimer: Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.
For further details please contact our Investor Relations Representatives: VALOREM ADVISORS Mr. Anuj Sonpal Tel: +91-22-49039500 Email: valiant@valoremadvisors.com
Valiant Organics Limited | June 2025
26
THANK YOU
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