ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Process Industries

Indorama Ventures Public Co. Ltd.

Company Background

Thailand's Indorama Ventures is the world's largest producer of polyethylene terephthalate resin, the main material in PET bottles. It also produces polyester fibers and purified terephthalic acid, ingredients of polyfibers.

 

CEO Aloke Lohia, an Indian national, founded the company in 1994. It started business as the first worsted wool yarn producer in Thailand and entered the petrochemical business a year later, establishing a PET resin facility. Aloke started his career helping out his father's business, Indorama Synthetics, an Indonesian listed company that produces spun yarn and polyester. Aloke moved to Thailand in 1988 to start his own business. Although he named his company after his father's, the two enterprises are not financially connected.

 

Indorama Ventures' clients include a number of global beverage makers. It has expanded its production base network worldwide through acquisitions in the U.S., Europe and Africa. In 2014, the company announced two acquisitions in Turkey, a country it believes has advantages because of its easy access to Central Asia, Middle East, North Africa and Southern Europe.

 

Business Summary

Indorama Ventures Public Co. Ltd. is a holding company, which engaged in the manufacture and trade of petrochemical products. It operates through the following segments: Polyethylene Teraphthalate; Fiber and Yarns; and Feedstock. The PET segment produces plastic containers and food packaging. The Fiber and Yarns segment offers synthetic fibers and textile products. The Feedstock segment includes purified terephthalic acid, mono ethanol glycols, and by-products used in the manufacture of PET materials. The company was founded by Aloke Lohia on February 21, 2003 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2021 THBUSD
Revenue468,108.31M14,620.96M
Gross Profit82,627.93M2,580.81M
Operating income38,691.68M1,208.50M
Income before tax34,796.76M1,086.84M
Net income25,538.02M797.65M
EBITDA60,428.37M1,887.42M
Diluted EPS4.540.14
Dividends Per Share10.03
Total Assets541,828.24M16,219.97M
Total liabilities385,729.57M11,547.06M
Total equity143,863.91M4,306.65M
Operating cash flow27,186.52M849.14M
Currency in THBCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 286,332.27M 347,170.90M 352,692.44M 331,512.90M 468,108.31M
Gross Profit 43,988.43M 56,006.88M 41,106.50M 41,425.95M 82,627.93M
Operating income 19,540.10M 29,155.02M 9,035.56M 4,563.62M 38,691.68M
Income before tax 19,649.72M 29,564.14M 5,892.39M 1,414.12M 34,796.76M
Net income 19,832.86M 25,415.40M 4,274.53M 1,665.40M 25,538.02M
EBITDA 31,778.93M 43,428.30M 26,076.01M 25,050.82M 60,428.37M
Diluted EPS 3.98 4.61 0.76 0.29 4.54
Dividends Per Share 1 1.40 1.22 0.70 1
Total Assets 286,099.36M 379,194.83M 380,567.90M 453,171.50M 541,828.24M
Total liabilities 181,986.74M 242,213.54M 256,626.58M 332,468.47M 385,729.57M
Total equity 102,187.57M 129,963.71M 115,485.95M 111,750.23M 143,863.91M
Operating cash flow 24,603.51M 25,966.16M 32,970.44M 34,589.07M 27,186.52M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 8,438.03M 10,739.26M 11,360.76M 10,593.11M 14,620.96M
Gross Profit 1,296.31M 1,732.49M 1,324.10M 1,323.71M 2,580.81M
Operating income 575.83M 901.87M 291.04M 145.82M 1,208.50M
Income before tax 579.06M 914.52M 189.80M 45.18M 1,086.84M
Net income 584.46M 786.19M 137.68M 53.21M 797.65M
EBITDA 936.50M 1,343.39M 839.94M 800.47M 1,887.42M
Diluted EPS 0.11 0.14 0.02 0.00 0.14
Dividends Per Share 0.02 0.04 0.03 0.02 0.03
Total Assets 8,778.74M 11,646.03M 12,705.18M 15,125.88M 16,219.97M
Total liabilities 5,584.12M 7,438.99M 8,567.42M 11,097.07M 11,547.06M
Total equity 3,135.55M 3,991.51M 3,855.47M 3,729.98M 4,306.65M
Operating cash flow 725.05M 803.22M 1,062.02M 1,105.25M 849.14M

Valuation Measures

Dec 2021
PER9.50
ROA5.13%
ROE19.98%
Operating margin8.26%
Profit margin5.45%

Key executives

  • Vice Chairman & Group Chief Executive Officer: Aloke Lohia
  • Chief Financial Officer & Director: Dilip Kumar Agarwal
  • Secretary, VP & Head-Global Compliance: Souvik Roy Chowdhury
  • Executive Director & Executive Vice President: Sanjay Ahuja
  • Executive Director & Deputy Group CEO: Suchitra Lohia

Shareholders

  • LOHIA FAMILY (63.4%)
  • Bangkok Bank Public Co. Ltd. (4.8%)
  • Social Security Office of Thailand (1.4%)
  • The Vanguard Group, Inc. (1.1%)
  • Norges Bank Investment Management (0.5%)
  • Krung Thai Asset Management Public Co., Ltd. (0.4%)
  • MFC Asset Management Public Co., Ltd. (Investment Management) (0.4%)
  • TMB Asset Management Co., Ltd. (0.3%)
  • Krungsri Asset Management Co., Ltd. (0.3%)
  • APG Asset Management NV (0.2%)

Contact Details

Related Companies

  • UCY Polymers CZ sro
  • Indorama Ventures Portugal Utility - Unipessoal Lda.
  • Glanzstoff Industries Srl
  • AE BG Alpha Omega Holding GmbH
  • PT Indorama Glycol Indonesia
  • FiberVisions Vermogensverwaltungsgesellschaft mbH
  • Indorama Ventures Recycling Verdun SAS
  • Wellman France Recyclage SAS
  • Performance Fibers (Kaiping) No.3 Co., Ltd.
  • StarPet, Inc.
  • Safe Tweave, Inc.
  • Glanzstoff Industries Mexico S de RL de CV
  • Indorama Ventures Solucoes Sustentaveis Brasil Ltda.
  • Sinterama Bulgaria EOOD
  • Indorama Ventures Packaging (Nigeria) Ltd.
  • Indorama Ventures Holdings Pty Ltd.
  • Sinterama do Brasil Ltda.
  • Indorama Ventures Fibras Brasil Ltda.
  • Indorama Ventures Packaging (Myanmar) Ltd.
  • Performance Fibers Holdings Finance, Inc.
  • Avgol Cyprus Ltd.
  • Performance Fibers Operations Mexico S de RL de CV
  • Indorama Ventures Oxides International LLC
  • Indorama Ventures Investments USA LLC
  • Indorama Ventures Olefins Holding LLC
  • Kordplast sro
  • Indorama Austria GmbH
  • Indorama Germany GmbH
  • Indorama Ventures Corpus Christi Holding LLC
  • Indorama Ventures Exporter, Inc.

Competitors

  • Formosa Chemicals & Fibre Corporation
  • Alpek, S.A.B. de C.V. Class A
  • Shinkong Synthetic Fibers Corporation
  • Saudi Basic Industries Corp.
  • Dow, Inc.
  • BASF SE
  • PTT Global Chemical Public Company Limited
  • Lotte Chemical Corp.
  • LyondellBasell Industries NV
  • Mitsubishi Gas Chemical Company, Inc.
  • Sasol Limited
  • Shell Plc
  • Amcor PLC
  • Qurain Petrochemical Industries Co. KSC
  • Ball Corporation
  • Boubyan Petrochemical Co. (K.S.C.)
  • Crown Holdings, Inc.
  • Formosan Union Chemical Corp.
  • Polski Koncern Naftowy ORLEN S.A.
  • Great Rich Technologies Limited
  • Jiangsu Jiangnan High Polymer Fiber Co., Ltd. Class A
Last Updated on 4 Oct, 2022

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more