Indorama Ventures Accelerates Growth Under IVL 2.0 Strategy

Indorama Ventures Public Company Ltd (IVL), a global sustainable chemical producer, is entering a new phase of growth under its IVL 2.0 strategy, focusing on strategic partnerships and industry consolidation. At its annual Capital Markets Day in Bangkok, Group CEO Aloke Lohia outlined how the company is positioning itself to capitalize on major shifts in global chemical markets.

Reflecting on the company’s progress, Lohia emphasized IVL’s transformation under its three-year IVL 2.0 optimization plan. He highlighted macroeconomic factors shaping the industry, including China’s push for self-sufficiency, the uneven impact of Peak Oil across regions, and India’s rapid economic expansion. On February 26, IVL reported improved full-year 2024 EBITDA, driven by focused execution of ‘self-help’ measures amid a challenging industry environment.

“Indorama Ventures is a fitter company today than when we launched IVL 2.0 a year ago. Our plan not only helps us navigate the current downturn but also restores our historical growth trajectory. As an entrepreneurial business with global scale and deep expertise, we are poised to seize new opportunities emerging from structural industry shifts,” Lohia stated.

Progress Under IVL 2.0
Senior executives provided updates on IVL 2.0 initiatives aimed at strengthening the company’s resilience and driving sustainable earnings growth. All business segments recorded improved performances in 2024, supported by asset optimization and digital transformation efforts. However, the company fell short of its deleveraging and cash conversion targets, prompting further management actions to sustain progress.

Strategic Growth Plan
As IVL evolves beyond its M&A-driven expansion model, the company is embracing a partnership-led growth strategy. Lohia outlined several expansion projects involving strategic collaborations with industry peers, leveraging IVL’s global platform and expertise.

In February, IVL acquired ~24.9% minority stake in EPL Ltd, India’s leading specialty packaging company and the world’s largest laminated tube manufacturer. The company is also advancing plans to spin off its Indovinya downstream chemicals segment and Indovida packaging unit, enabling them to operate as independent high-growth businesses.