At the company’s annual Capital Markets Day in Bangkok in March 2025, Mr. Aloke Lohia, Group CEO of Indorama Ventures, outlined the significant potential for Indorama Ventures—now revitalizing itself under its 3-year IVL 2.0 optimization plan—to resume its growth journey as it pivots towards a future that is being re-shaped by macroeconomic forces such as China’s push for self-sufficiency in manufacturing, the uneven impact of Peak Oil across East and West, and India’s rapid economic expansion. A few days ago, on 26 February, the company posted improved full-year 2024 EBITDA as its focused management executed their plan to transform the business through decisive ‘self-help’ actions amid one of the most severe industry downturns in recent years.
Mr. Lohia told an audience of analysts and investors, “Today, Indorama Ventures is a fitter company than we were when we announced our IVL 2.0 strategy a year ago, and we are now able to compete with the best. Our plan is designed not only to help us re-tool and re-skill to navigate the current downturn—which is expected to persist—but also to restore our historical growth trajectory. As an innately entrepreneurial family business with global scale and deep expertise, we have always been able to take advantage of change to grow our unmatched model and generate increasing shareholder returns. I am excited by new opportunities to substantially expand our business as our industry undergoes seismic, generational shifts and consequently unlocks fresh growth potential.”
IVL 2.0 Progress
At the event, senior executives provided updates on their measures under IVL 2.0 to fortify the business against prevailing market headwinds and set a new course for enhanced, sustainable earnings growth. In a year of alignment, mobilization and launch, all segments recorded improved performances in 2024 as they took concerted management steps to refine their organizations, optimize assets, and transform their business processes through modern data-led toolsets and digital enterprise systems.
Still, in light of continued industry pressures, the company fell short on its deleveraging and cash conversion targets in 2024 and has determined that further management actions are necessary to sustain progress toward the company's objectives, building on the significant measures already taken.
Strategic Growth Plan
Indorama Ventures, as a mature company with more than three decades of successful growth, is fundamentally changing its approach to generating increasing returns as it prepares a next generation of leaders to operate in a vastly different environment. In a departure from the company’s previous M&A-led model, Mr. Lohia outlined several expansion projects currently in the pipeline, all involving complementary strategic partnerships with major industry peers. This new growth approach aims to leverage Indorama Ventures’ unmatched organization, platform, processes, and systems—revitalized under IVL 2.0 and the company’s “indispensable chemistry” brand—to consolidate dominant positions and grow scale in attractive growth markets, including India.
