Laxmi Organic Industries Ltd. · NSE:LXCHEM
Laxmi Organic Industries — Q4 FY22 Earnings Presentation
26 slides from Laxmi Organic Industries's earnings presentation, May 5, 2022
Slide 1: Cover letter to BSE and NSE
May 05, 2022 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Exchange Plaza, Bandra Kurla Complex, 1st Floor, New Trading Ring, Bandra (E), Rotunda Building, P. J. Towers, Mumbai – 400 051 Dalal Street, Fort, Trading Symbol: LXCHEM Mumbai – 400 001 Scrip Code:
Slide 2: Laxmi Organic Industries Reports Q4FY22 & FY22 Results
LAXMI ORGANIC INDUSTRIES REPORTS Q4FY22 & FY22 RESULTS FY22 Standalone Operating Revenue of ₹ 29,965 Mn; Q4 FY22 Standalone Operating Revenue of ₹ 9,062 Mn FY22 Profit After Tax at ₹ 2,311 Mn; Q4 FY22 Profit After Tax at ₹ 410 Mn Mumbai, May 5, 2022: Laxmi Organic Industries Limited (NSE: LXCHEM|BSE
Slide 3: Consolidated Financial Highlights for Quarter Ended March 31, 2022
Consolidated Financial Highlights for Quarter Ended March 31st, 2022: ▪ Operating Revenues at ₹ 8,799 Mn in Q4FY22 as compared to ₹ 5,195 Mn in Q4FY21; a growth of 69% Y-o-Y and of 2% Q-o-Q ▪ EBITDA at ₹ 730 Mn in Q4FY22 as compared to ₹ 655 Mn in Q4FY21; a growth of 11% Y-o-Y and a de-growth of 39%
Slide 4: Investor Presentation – Q4 FY22
LAXMI ORGANIC INDUSTRIES LTD w w w. l a x m i . c o m Investor Presentation – Q4 FY22 | May, 2022
Slide 5: Disclaimer
Disclaimer Certain statements and opinions with respect to the anticipated future performance of Laxmi Organics Ltd (Laxmi) in the presentation (“forward - looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be
Slide 6: Agenda
Agenda 01 Company overview 02 Business 03 Strategy 04 Financials
Slide 7: Company overview
Company overview LAXMI ORGANIC INDUSTRIES LTD
Slide 8: Company overview
Company overview Large scale organic chemical Combined with YCPL the Only manufacturer of Diketene Forayed into high margin manufacturing for more than Company becomes the largest derivatives in India with ~55% specialty fluorochemicals by three decades manufacturer of Ethyl Acetate market share acq
Slide 9: De-risked business model with diversified customer base
De-risked business model with diversified customer base India market - Growth Diversified customer base (2019-24 CAGR) % of revenue from sale of manufactured products & services Pharma Ingredients Pharma Ingredients (API) 11% 2% 6% 9% 28% Agrochemicals & Fertilizers 10% FY22 19% 6% Dyes & Pigments 1
Slide 10: De-risking through presence in different geographies
De-risking through presence in different geographies Robust export earnings Low dependence on a single export market (INR Mn) FY22 sale break-up 8,948 Africa 18% 6% 3% Americas 10% Europe 3,972 3,541 3,293 Rest of Asia Pacific 12% 50% Middle East Russia FY19 FY20 FY21 FY22 Arrangements for Customers
Slide 11: In-house Research & Development capabilities
In-house Research & Development capabilities Consistent technology absorption to develop R&D – Key growth driver of business new potential marketable products Developed five different chemistry platforms on Two DSIR recognised R&D facilities working on ketene, commercial scale diketene & other c
Slide 12: Business
Business LAXMI ORGANIC INDUSTRIES LTD
Slide 13: Overview of Acetyl Intermediates (AI) business
Overview of Acetyl Intermediates (AI) business Comprising of ETAC, acetaldehyde, ethanol & other customised solvents FY22 AI Revenue Q4 FY22 AI Revenue Expanded capacity & trade channels (INR Mn) (INR Mn) Increase of capacity during the year 18,092 201,000 MTPA 5,303 5,338 9,139 8,145 2,792 233,000
Slide 14: Overview of Specialty Intermediates (SI) business
Overview of Specialty Intermediates (SI) business Basket of 34+ products – ketene, diketene derivatives (esters, acetic anhydride, amides, arylides & others) Healthy revenue contribution from new products Q4FY22 - SI performance (INR Mn) (INR Mn) 8,812 2,789 5,069 2,655 4,368 39% FY20 FY21 FY22 1,57
Slide 15: Fluorospecialty – Differentiated position in chemical manufacturing
Fluorospecialty– Differentiated position in chemical manufacturing Progress Total spend till 31st March 2022 – Rs. 2130 million Civil & structural works are close to completion and progressing well within timelines Kilo lab has been functional and many trial runs have been successfully complet
Slide 16: Financial performance
Financial performance LAXMI ORGANIC INDUSTRIES LTD
Slide 17: Management Commentary
Management Commentary Mr. Ravi Goenka CHAIRMAN & MANAGING DIRECTOR “I am happy to share that FY 22 has been a strong year despite the headwinds that we faced on many fronts. We recorded a strong performance in both our business segments – Acetyl Intermediates (AI) and Specialty Intermediates (SI), d
Slide 18: Full Year Profit and Loss Statement
Full Year Profit and Loss Statement Standalone Consolidated FY’22 Total Income Split (in INR Mn) (Standalone) PARTICULARS PARTICULARS FY22 FY21 FY22 FY21 (in INR Millions) (in INR Millions) Revenue From Revenue From 29,965 16,061 30,842 17,684 Operations Operations AI Other Income 204 95 Other Incom
Slide 19: Quarterly Profit and Loss Statement – Standalone
Quarterly Profit and Loss Statement Standalone Q4’22 Total Income Split (in INR Mn) (Standalone) PARTICULARS (in INR Millions) Q4FY22 Q3FY22 Q4FY21 Q-o-Q Y-O-Y Revenue From Operations 9,062 8,742 4,674 4% 94% AI Other Income 41 19 34 116% 21% Total Income 8,760 8,761 4,708 -0.01% 86% Total Operating
Slide 20: Quarterly Profit and Loss Statement – Consolidated
Quarterly Profit and Loss Statement Consolidated PARTICULARS (in INR Millions) Q4FY22 Q3FY22 Q4FY21 Q-o-Q Y-o-Y Revenue From Operations 8,799 8,599 5,195 2% 69% Other Income 19 20 17 -5% 12% Total Income 8,818 8,619 5,213 2% 69% Total Operating Expenses 8,069 7,412 4,540 9% 78% EBITDA 730 1,187 655
Slide 21: Balance Sheet Statement Standalone
Balance Sheet Statement Standalone PARTICULARS (in INR Millions) FY22 FY21 Shareholders’ Funds 12,860 10,445 Non Current Liabilities 250 300 Current Liabilities 8,193 6,605 Total Liabilities 21,303 17,350 Non Current Assets 7,819 5,142 Current Assets 13,422 12,208 Total Assets 21,303 17,350 w w w. l
Slide 22: Balance Sheet Statement Consolidated
Balance Sheet Statement Consolidated PARTICULARS (in INR Millions) FY22 FY21 Shareholders’ Funds 13,010 10,350 Non Current Liabilities 341 348 Current Liabilities 9,324 7,678 Total Liabilities 22,675 18,376 Non Current Assets 7,947 5,325 Current Assets 14,728 13,051 Total Assets 22,675 18,376 w w w.
Slide 23: Financial performance trend
Financial performance trend Revenue from operations EBITDA profile (INR Mn) (INR Mn) 29,965 3,194 2,025 14,288 16,061 1,514 13,587 1,176 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 PAT profile Return ratios (INR Mn) (%) 2,311 23% 21% 17% 18% 18% 16% 1,226 14% 12% 778 786 FY19 FY20 FY21 FY22 FY19 FY20 FY
Slide 24: Financial performance trend
Financial performance trend Asset turnover Working capital days (X) (days) 1.5 1.4 34 1.3 33 25 0.9 18 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 Leverage profile Cash Inflow from Operations before WC changes and CAPEX outgo (X) (INR Mn) 2,757 0.2 0.2 1,678 1752 0.1 0.1 1,187 1,263 972 878 333 FY19 FY2
Slide 25: Glossary
Glossary ETAC – Ethyl Acetate AI – Acetyl Intermediates SI – Specialty Intermediates DSIR – Department of Scientific and Industrial Research IFC – International Finance Corporation LOIL – Laxmi Organic Industries Ltd YCPL – Yellowstone Chemicals Pvt Ltd YFCPL – Yellowstone Fine Chemi
Slide 26: Thank You
THANK YOU For further details please get in touch with: LAXMI ORGANIC INDUSTRIES Email: investors@laxmi.com DIWAKAR PINGLE CHRISTENSEN ADVISORY Email: dpingle@christensenir.com
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