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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 engages 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 2019 THBUSD
Revenue352,692.44M11,360.76M
Gross Profit41,106.50M1,324.10M
Operating income9,035.56M291.04M
Income before tax5,892.39M189.80M
Net income4,274.53M137.68M
EBITDA26,076.01M839.94M
Diluted EPS0.760.02
Dividends Per Share1.220.03
Total Assets380,567.90M12,705.18M
Total liabilities256,626.58M8,567.42M
Total equity115,485.95M3,855.47M
Operating cash flow32,970.44M1,062.02M
Currency in THBCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 234,697.94M 254,619.53M 286,332.27M 347,170.90M 352,692.44M
Gross Profit 25,492.41M 35,049.72M 43,988.43M 56,006.88M 41,106.50M
Operating income 7,227.87M 15,041.33M 19,540.10M 29,155.02M 9,035.56M
Income before tax 9,011.37M 18,594.40M 19,649.72M 29,564.14M 5,892.39M
Net income 5,769.26M 15,147.10M 19,832.86M 25,415.40M 4,274.53M
EBITDA 16,553.57M 26,106.76M 31,778.93M 43,428.30M 26,076.01M
Diluted EPS 1.20 3.15 3.98 4.61 0.76
Dividends Per Share 0.48 0.66 1 1.40 1.22
Total Assets 221,640.61M 261,728.47M 286,099.36M 379,194.83M 380,567.90M
Total liabilities 153,561.72M 184,787.61M 181,986.74M 242,213.54M 256,626.58M
Total equity 64,951.17M 74,181.30M 102,187.57M 129,963.71M 115,485.95M
Operating cash flow 21,352.48M 20,515.04M 24,603.51M 25,966.16M 32,970.44M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 6,847.96M 7,216.98M 8,438.03M 10,739.26M 11,360.76M
Gross Profit 743.81M 993.45M 1,296.31M 1,732.49M 1,324.10M
Operating income 210.89M 426.33M 575.83M 901.87M 291.04M
Income before tax 262.93M 527.04M 579.06M 914.52M 189.80M
Net income 168.33M 429.33M 584.46M 786.19M 137.68M
EBITDA 482.99M 739.97M 936.50M 1,343.39M 839.94M
Diluted EPS 0.03 0.08 0.11 0.14 0.02
Dividends Per Share 0.01 0.01 0.02 0.04 0.03
Total Assets 6,159.24M 7,308.70M 8,778.74M 11,646.03M 12,705.18M
Total liabilities 4,267.38M 5,160.15M 5,584.12M 7,438.99M 8,567.42M
Total equity 1,804.95M 2,071.49M 3,135.55M 3,991.51M 3,855.47M
Operating cash flow 623.01M 581.48M 725.05M 803.22M 1,062.02M

Valuation Measures

Dec 2019
PER45.97
ROA1.12%
ROE3.48%
Operating margin2.56%
Profit margin1.21%

Key executives

  • Vice Chairman & Group Chief Executive Officer: Aloke Lohia
  • CFO, Executive Director, Head-Finance & Treasury: Sanjay Ahuja
  • Secretary, VP & Head-Global Compliance: Souvik Roy Chowdhury
  • Executive Director & Deputy Group CEO: Suchitra Lohia
  • Executive Director, CEO-Pet & IOD Business: Dilip Kumar Agarwal

Shareholders

  • LOHIA FAMILY (63.4%)
  • Bangkok Bank Public Co. Ltd. (4.8%)
  • Social Security Office of Thailand (1.4%)
  • The Vanguard Group, Inc. (1.0%)
  • Krung Thai Asset Management Public Co., Ltd. (0.5%)
  • MFC Asset Management Public Co., Ltd. (Investment Management) (0.5%)
  • Norges Bank Investment Management (0.4%)
  • TMB Asset Management Co., Ltd. (0.4%)
  • TISCO Asset Management Co., Ltd. (0.3%)
  • Aviva Investors Global Services Ltd. (0.2%)

Contact Details

Related Companies

  • Indorama Ventures Polimeros SA
  • Indorama Ventures Sustainable Solutions Fontana, Inc.
  • Indorama Ventures Portugal PTA Unipessoal Lda.
  • Custom Polymers Pet LLC /Recycling Facility/
  • Glanzstoff Management GmbH
  • Indorama Ventures Spain S.L
  • Indorama Ventures Xylenes & PTA LLC
  • Indorama Ventures Corlu Pet Sanayi AS
  • Indorama Ventures Northern Investments, Inc.
  • Indorama Ventures PTA Montreal LP
  • BP Amoco Chemical Co. /Petrochemical Business/
  • Micro PolyPet Pvt Ltd.
  • Indorama Polymers (USA) LLC
  • Indorama Ventures Global Services Ltd.
  • Indorama Ventures Ecomex Services S. de R.L. de C.V.
  • Indorama Ventures Ecomex S. de R.L. de C.V.
  • Indorama Ventures Polyholding LLC
  • Indorama Ventures USA LLC
  • PHP Fibers GmbH
  • Indorama Ventures Europe BV
  • Indorama Ventures Alphapet Holdings, Inc.
  • Indorama Ventures USA Holdings LP
  • IVL Singapore Pte Ltd.
  • SPG/FV Investor LLC
  • Indorama Ventures Recycling Netherlands BV
  • MJR Recycling BV
  • Indorama Ventures Servicios Corporativos S De RL De Cv
  • Indorama Ventures Polycom S De RL De Cv
  • Indorama Ventures Polymers Mexico S de RL de CV
  • Grupo Indorama Ventures S De RL De Cv

Competitors

  • Alpek, S.A.B. de C.V. Class A
  • Formosa Chemicals & Fibre Corporation
  • Saudi Basic Industries Corp.
  • Lotte Chemical Corp.
  • PTT Global Chemical Public Company Ltd
  • Mitsubishi Gas Chemical Company, Inc.
  • LyondellBasell Industries NV
  • Mitsui Chemicals, Inc.
  • Dow, Inc.
  • Amcor PLC
  • Qurain Petrochemical Industries Co. KSC
  • Royal Dutch Shell Plc Class A
  • Shinkong Synthetic Fibers Corporation
  • Ball Corporation
  • Boubyan Petrochemical Co. (K.S.C.)
  • Crown Holdings, Inc.
  • Eastman Chemical Company
  • Polski Koncern Naftowy ORLEN S.A.
  • Great Rich Technologies Limited
  • Jiangsu Jiangnan High Polymer Fiber Co., Ltd. Class A
Last Updated on 27 Oct, 2020

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