Addressing shareholders, Group CEO Mr. Aloke Lohia described 2025 as a defining period of unprecedented challenges and emphasized that Indorama Ventures has entered a new “execution era” built on radical clarity, disciplined delivery, and structural resilience.
Mr. Lohia said, “2025 tested our resilience and challenged our assumptions—but it also became the catalyst for the most profound strategic pivot in our company’s recent history. We have done our homework over the last three years. Today, we are fixing our platform to cope with trough margins while simultaneously creating free cash flow. This is the story of our IVL 2.0 transformation strategy and our transition to an execution-led organization defined by accountability and measurable value creation.”
Resilience validated by four ‘moats’
Mr. Lohia highlighted the ongoing Iran-related disruptions as a real-time validation of Indorama Ventures’ strategy, particularly the inherent resilience of its globally integrated “local-for-local” operating model. With about 50% of revenue generated in the Americas—where advantaged shale-based feedstocks underpin around 60% of contribution margin—the company continues to benefit from structural cost advantages relative to naphtha-based peers.
Mr. Lohia identified four structural “moats” underpinning long-term value creation, including the company’s unique shale-based integration in the U.S., its integrated global business model that spans feedstock to downstream applications; its four diversified business segments as “engines” that serve essential, resilient end-markets; and a disciplined operating rhythm driven by real-time execution and inventory control.
“Our businesses are interconnected through common feedstocks and integration across the ethylene and aromatic value chains,” Mr. Lohia said. “This creates a dynamic, interlinked system of competitive advantage that is extremely difficult to replicate.”
