Nayara Energy AGM Highlights: Strong Performance, No Operational Hindrance from Heavy Rains, and Focus on Strategic Growth

28 September 2024

Nayara Energy held its 34th Annual General Meeting (AGM), where the management highlighted the company's robust financial performance, strategic growth plans, and updates on operations. Reflecting on FY24, Nayara achieved an impressive 99.74% operational availability, processing over 20 million tons of crude oil. The company reported a 26% year-on-year growth in profit after tax (PAT), reaching ₹12.85 billion, underlining its leadership in operational efficiency and cost management, even amidst global challenges.

• Operational Stability Despite Heavy Rains
• Management also confirmed that the heavy rains in August 2024 did not cause any hindrance to Nayara’s operations. This announcement reassured shareholders about the company's resilience and ability to maintain seamless operations despite adverse weather conditions.
• No Immediate IPO or Dividend Plans
• During the meeting, Nayara Energy’s management emphasized that there are no immediate plans for an IPO or dividend distribution. The company remains focused on its ambitious expansion strategy, which includes major capex projects, such as the 450 KTPA polypropylene plant and bio-ethanol ventures. These projects will require significant investments, partly financed through internal accruals.
• Retail Outlet Network Expansion
• Nayara is strategically positioning itself for long-term growth, with plans to expand its retail network from the current 6,500 outlets to 10,000 outlets by 2030. This aggressive expansion reflects the company's commitment to strengthening its market presence across India.
• Commitment to Sustainability and Future Growth
• In alignment with India’s goal of 20% ethanol blending by FY26, Nayara also reaffirmed its commitment to sustainability, announcing plans to establish five ethanol plants by 2030. These initiatives are key to Nayara’s broader vision of supporting India’s energy transition while maintaining its leadership in the conventional energy market.
• The company remains dedicated to enhancing shareholder value through long-term growth, bolstered by its strong operational foundation and leadership in India's energy landscape.
  
  
  Source: https://www.youtube.com/watch?v=xPK4WDSE7jU​