India Glycols Limited (IGL), a leading manufacturer of green technology-based chemicals, has announced significant changes to its Board of Directors, signaling a strategic refresh in its leadership structure.

New Appointments

The company's Board of Directors has approved the appointment of two new Additional Directors in the category of independent directors:

1. Shri Sushil Dutt Salwan: A Senior Advocate with over 38 years of legal experience, Salwan brings extensive legal expertise to the board.

2. Shri Samrat Banerjee: Co-founder of the Blue Edge investment platform, Banerjee offers three decades of portfolio management experience.

Both appointments are for a five-year term, effective from October 1, 2024, subject to shareholder approval.

Re-appointment

In addition to the new appointments, the board has approved the re-appointment of Smt. Shukla Wassan as an Independent Director for a second five-year term. Wassan, a Fellow Member of the Institute of Company Secretaries of India with extensive board experience across multiple countries, will serve from April 1, 2025, to March 31, 2030, pending shareholder approval.

Departing Directors

The company also announced that four independent directors will be stepping down upon completion of their second terms on September 30, 2024:

1. Mr. Pradip Kumar Khaitan
2. Mr. Jagmohan N. Kejriwal
3. Mr. Ravi Jhunjhunwala
4. Mr. Jitender Balakrishnan

Implications for Corporate Governance

These board changes reflect India Glycols' commitment to maintaining a diverse and experienced leadership team. The new appointments bring fresh perspectives and expertise in legal and investment management, which could prove valuable as the company navigates future challenges and opportunities in the green chemicals sector.

The re-appointment of Smt. Shukla Wassan ensures continuity in governance, while the incoming directors are poised to contribute new insights to the company's strategic direction.

Annual General Meeting

India Glycols Limited has scheduled its 41st Annual General Meeting (AGM) for Tuesday, September 30, 2025, at 11:00 A.M. IST. The meeting will be held through Video Conferencing (VC) or Other Audio Visual Means (OAVM) in compliance with applicable regulations.

Shareholders can access the AGM notice and annual report for FY 2024-25 on the company's website. The company has also provided a web link and QR code for easy access to these documents for shareholders whose email addresses are not registered with the company or its registrar.

India Glycols has emphasized the importance of shareholders updating their PAN and KYC details, particularly for those holding shares in physical form, to ensure smooth dividend payments and compliance with SEBI regulations.

As India Glycols Limited prepares for these leadership transitions, stakeholders will be watching closely to see how the refreshed board will guide the company's future growth and sustainability initiatives in the competitive chemicals industry.

India Glycols Limited (IGL) has reported robust financial results for the first quarter, with significant growth across key segments. The company's performance was particularly strong in its Bio-Fuels and Potable Spirits divisions, contributing to an overall increase in profitability.

Financial Highlights

Segment Performance

Bio-Fuels

The Bio-Fuels segment emerged as a key growth driver, with revenue increasing by 45% to Rs. 348.00 crores. This segment's EBIT margin stood at 6.50%.

Potable Spirits

The Potable Spirits division also demonstrated strong performance:

• Revenue grew by 22% to Rs. 342.00 crores
• EBIT margin improved significantly from 17.50% to 21.10%

Chemicals

While the Chemicals segment faced some pressure with revenue declining to Rs. 300.00 crores, its EBIT margin expanded from 9.90% to 10.90%.

Ennature Biopharma

The Ennature Biopharma segment experienced challenges, with both sales and margins under pressure.

Joint Venture Performance

IGL's joint venture with Clariant showed remarkable improvement:

• JV's sales grew by approximately 15-16%
• IGL's share of profit from the JV increased by 73.70% year-on-year to Rs. 19.00 crores
• EBITDA growth for the JV was around 40%

Strategic Developments

1. Restructuring Initiative: IGL is undergoing a restructuring process to create separate entities for different business segments, aiming to enhance shareholder value.

2. Expansion Plans: The company is expanding into new geographies, including Kerala, for its liquor business.

3. Premium Brand Focus: IGL is strengthening its premium liquor portfolio through partnerships, such as with Amrut Distilleries.

4. Performance Chemicals Growth: The company reported significant growth in its new value-added Performance Chemicals business, with plans for incremental capacity expansions.

5. Bio-Fuel Strategy: IGL continues to align with the government's ethanol blending program, which is on track to achieve 20% blending by 2025-26.

Management Commentary

Rupark Sarswat, CEO of India Glycols Limited, commented on the results: "We have had a good quarter with strong performance across key segments. Our Bio-Fuels and Potable Spirits businesses have shown excellent growth, while we continue to focus on value-added products in our Chemicals segment. The joint venture with Clariant has also contributed significantly to our overall results."

Future Outlook

The company remains optimistic about its growth prospects, particularly in the Bio-Fuels and Potable Spirits segments. IGL is also focusing on improving its product mix in the Chemicals business and addressing challenges in the Ennature Biopharma segment through differentiation and expansion into regulated markets.

India Glycols Limited continues to leverage its diverse portfolio and strategic initiatives to drive growth and profitability in a dynamic market environment.