Annual Report: 2022
Nayara Energy's Annual Report for 2021-22, titled "Nayara for India," highlights the company's commitment to India's energy security. As a major downstream player, Nayara Energy contributes around 8% of India's refining output.
Nayara Energy focuses on several key commitments:
Key Performance Indicators:
Chairman's Message: Executive Chairman Tony Fountain notes the challenges posed by the Coronavirus pandemic and geopolitical tensions from the Russia-Ukraine conflict. He commends India's management of the pandemic and notes the loss of employees. He emphasizes Nayara's operational excellence and financial prudence, highlighting the flexibility to access crude and export surpluses, and the EBITDA growth (36% YoY growth in EBITDA for FY2022.) He mentions challenges related to instability, crude price spikes, liquidity, cash, and high working capital requirements. He hopes for resolution to the conflict in Ukraine. Fountain notes the progress on the 450 KTPA Polypropylene / Petrochemical project set to be commissioned by the third quarter of 2023, support for communities, and commitment to energy and petrochemical security. The company was honoured with the CSR Campaign of the Year Award at Platts 23rd Annual Global Energy Awards Summit.
CEO's Message: CEO Dr. Alois Virag discusses the challenges of the coronavirus pandemic. Nayara's retail network remained operational even during the second wave of COVID, community stewardship,Gram Samruddhi project. The company built a makeshift hospital with 50 beds at Vadinar. The company ensured continuity, while remaining committed to health and safety, achieving 50 million LTI-free man hours. The company transitioned to a flexible hybrid model. Business operations resulted in optimisation and a 99.9 % reliability achieved. 9 new crudes were introduced, and solids were captured, along with a shift from Natural Gas to alternate fuels saved production costs. The Company achieved its first gas resale transaction, operationalized Nayara's international launchpad, launched Mineral Turpentine Oil (MTO), and maximised ethanol blending. Nayara Energy became the first OMC to share petroleum product pipelines. They have $140+ million EBITDA contribution, $1 Billion + in prepayments secured and 2,285 raised crores through listed NCDs. The retail network has expanded to 6,568 retail outlets by the end of March 2022, with ~2000+ outlets now operating under the Nayara Energy brand.
Board of Directors:
The report lists the names and designations of the company's board of directors.
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