Indorama Ventures Public Company Limited (IVL), a global sustainable chemicals producer, has outlined its 2026–2028 business plan during its Annual Capital Markets Day (CMD) in Bangkok, Thailand. The roadmap emphasises disciplined execution, operational excellence, and value creation, building on the structural reset achieved under the company’s IVL 2.0 transformation strategy. Addressing analysts and investors, Group CEO Aloke Lohia highlighted how the company has strengthened its operational foundations. He added that its financial position has also been reinforced in preparation for the next phase of growth.
From VUCA to SOAR: A Strategic Shift
Under the IVL 2.0 framework, the company adopted the VUCA approach—Vision, Understanding, Clarity, and Agility—to reshape its operational strategy. Through this framework, management optimized the cost structure, enhanced balance sheet flexibility, and built a more resilient asset base. As a result, Indorama Ventures is now structurally stronger and better positioned to navigate the ongoing transformation of the global chemicals industry. Looking ahead, the company is transitioning to a complementary SOAR framework—Strengths, Opportunities, Aspirations, and Results. This framework will guide its 2026–2028 strategy and value creation agenda.
“The difference between SOAR and VUCA lies in their psychological orientation,” said Aloke Lohia. “SOAR represents a mindset of possibility and internal aspiration, while VUCA reflects preparedness and external awareness. We must adopt both, and the level of satisfaction will be equally rewarding,” Lohia added.
Leaner Leadership and Stronger Governance
Earlier this year, Indorama Ventures restructured its senior leadership team to create a lean execution-focused management structure. This reorganisation enables the corporate leadership to act as an effective partner to its federated business segments. At the same time, the company has prioritised radical clarity in decision-making, improving accountability, strengthening capital discipline, and ensuring greater operational transparency. These measures aim to enhance earnings quality and long-term resilience.
Growth Strategy Without Reliance on Market Recovery
Notably, the company’s roadmap does not depend on a cyclical recovery in the chemicals sector. Instead, management has assumed that industry spreads will remain at the trough levels seen in 2025. Under this conservative scenario, the company plans to double EBITDA by 2028 through internal performance improvements. These include cost optimisation, tighter inventory management, and a more focused portfolio strategy.
Indovida Positioned as a Key Growth Engine
Indorama Ventures’ Indovida packaging business is expected to play a central role in the company’s future growth strategy. The business benefits from steady demand growth in food and beverage and personal care markets. Furthermore, strong customer relationships and operational integration provide a solid foundation for expansion across emerging markets.
Navigating a Decade of Industry Transformation
Reflecting on the company’s journey, Aloke Lohia noted that the past few years have been marked by unprecedented disruption across global industries. “Since our 30th anniversary in 2020, we have navigated a landscape of profound change—from the maturation of our core polyester business and crude oil volatility to global pandemics, geopolitical conflicts, and historic interest rate hikes,” he said. In response, Indorama Ventures launched IVL 2.0 in 2023, initiating a comprehensive strategic reset aligned with its board and the Indorama Management Council.
As reported by asiafoodjournal.com, the company plans to drive growth by strengthening higher-margin business platforms such as Indovinya, Indovida, and its shale-to-PET platform, while leveraging its ‘local for local’ operating model to respond more effectively to market volatility and supply chain disruptions.
