Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q3 FY22 Earnings Presentation
29 slides from Dcm Shriram's earnings presentation, Jan 18, 2022
Slide 1: Q3 & 9M FY22 - Results Presentation
DCM Shriram Ltd. Q3 & 9M FY22 - Results Presentation January 18, 2022
Slide 2: Safe Harbour
Certain statements in this document may be forward-looking. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, Safe Harbour technological risks, and many other factors that could cause our actual results t
Slide 3: Table of Contents
Table of Contents Management Message & Q3 FY22 9M FY22 Segments Financial Snapshot 4 Financial Snapshot 9 Management’s Message 13 Revenue Drivers 5 Revenue Drivers 10 Segments 14 PBDIT Drivers 6 PBDIT Drivers 11 Chloro-Vinyl Businesses 15-19 Returns & Leverage 7 Segment Performance 12 Sugar 20-22 Se
Slide 4: Financial Snapshot – Q3 FY22
Financial Snapshot – Q3 FY22 Revenue (Net) PBDIT Depreciation 2,730* 2,159 614 26% 46% 9% 61 421 56 Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 PBIT Finance Cost** PAT 553 28 350 365 52% -39% 17 253 38% Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 * Net of excise duty of Rs 61 crs on country
Slide 5: Revenue Drivers – Q3 FY22
Revenue Drivers – Q3 FY22 Positive Revenue Drivers Negative Revenue Drivers Chemicals Vinyl Sugar 738 304 657 115% 207 47% -14% 343 565* Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 • Revenues impacted by volumes in Sugar and Distillery. • • Domestic sugar volumes down 29% YoY which are regulated
Slide 6: PBDIT Drivers – Q3 FY22
PBDIT Drivers – Q3 FY22 Positive PBDIT Drivers Negative PBDIT Drivers Chemicals Vinyl Bioseed Q3 FY21 Q3 FY22 193% 286 24% 125 101 98 -8 Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 -32 • Led by higher prices and carbide volumes. PVC volumes • India Operations were Impacted by lower volumes. • Led by higher prod
Slide 7: Returns & Leverage – Q3 FY22
Returns & Leverage – Q3 FY22 PBDIT to Net Sales Net Debt / EBITDA 22.5% 0.32 19.5% 15.0% 0.14 FY21 Q3 FY21 Q3 FY22 FY21 Q3 FY21 Q3 FY22 -0.15 ROCE % Capital Employed (Rs. Crs) 27.0% 5,055 4,954 4,734 18.0% 17.4% FY21 Q3 FY21 Q3 FY22 FY21 Q3 FY21 Q3 FY22 Note: ROCE and Net Debt/ EBITDA Calculated on
Slide 8: Segment Performance – Q3 FY22
Segment Performance – Q3 FY22 Rs crs Revenues PBIT PBIT Margins % YoY % Segments Q3 FY22 Q3 FY21 YoY % Change Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 Change Chloro-Vinyl 1042.2 549.7 89.6 385.2 177.2 117.4 37.0 32.2 Sugar 565.4* 656.5 (13.9) 111.9 97.4 14.9 19.8 14.8 SFS 446.1 395.0 13.0 96.7 77.8 24.3 21.7
Slide 9: Financial Snapshot – 9M FY22
Financial Snapshot – 9M FY22 Revenue (Net) PBDIT Depreciation 6,832* 177 1,225 175 12% 44% 1% 853 6,118 9M FY21 9M FY22 9M FY21 9M FY22 9M FY21 9M FY22 PBIT Finance Cost** PAT 1048 666 97 55% -30% 51% 678 68 442 9M FY21 9M FY22 9M FY21 9M FY22 9M FY21 9M FY22 Note: All figures in Rs.crs, Net revenue
Slide 10: Revenue Drivers – 9M FY22
Revenue Drivers – 9M FY22 Positive Revenue Drivers Negative Revenue Drivers Chemical Vinyl Sugar 1,633 822 76% 79% 2,364 -27% 928 460 1,719* 9M FY21 9M FY22 9M FY21 9M FY22 9M FY21 9M FY22 • • Driven by product prices and volumes. PVC prices up Driven by both volumes and prices. ECU prices up 52% •
Slide 11: PBDIT Drivers – 9M FY22
PBDIT Drivers – 9M FY22 Positive PBDIT Drivers Negative PBDIT Drivers Chemical Vinyl Sugar 371 264 207 100% 506 131% -21% 160 253 9M FY21 9M FY22 9M FY21 9M FY22 9M FY21 9M FY22 • Primarily by higher prices. Higher volumes also positively • PBDIT impacted due to lower volumes. • Led by higher produc
Slide 12: Segment Performance – 9M FY22
Segment Performance – 9M FY22 Rs crs Revenues PBIT PBIT Margins % YoY % Segments 9M FY22 9M FY21 YoY % Change 9M FY22 9M FY21 9M FY22 9M FY21 Change Chloro-Vinyl 2454.8 1388.2 76.8 801.2 342.4 134.0 32.6 24.7 Sugar 1718.8 * 2363.9 (27.3) 149.5 208.3 (28.2) 8.7 8.8 SFS 836.8 793.4 5.5 133.6 116.7 14.
Slide 13: Management's Message
Management’s Message Commenting on the performance for the quarter and period ending December 2021, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: This quarter was very challenging for our businesses. High
Slide 14: Segments
Segments Chloro-Vinyl Agri Other Businesses Businesses Businesses Fenesta Caustic Sugar Building Soda (1,845 (38,000 Systems TPD) TCD) (8,400 TPA) Aluminum Cement Co-Gen Chloride (400,000 (155 MW) (60 TPD) TPA) PVC Resins Distillery Polymer India (220 TPD) (350 KLD) Compounds Calcium Hariyali Shrira
Slide 15: Chloro Vinyl Business
Chloro Vinyl Business PBIT Cap. Employed Particulars Revenues (Rs Crs) (Rs Crs) (Rs Crs) Q3 FY22 1,042.2 385.2 1,778.6 Q3 FY21 549.7 177.2 1,487.1 % Shift 89.6 117.4 19.6 9M FY22 2,454.8 801.2 1,778.6 9M FY21 1,388.2 342.4 1,487.1 % Shift 76.8 134.0 19.6 The Chloro-Vinyl business of the Company has
Slide 16: Chemicals
Chemicals Operational Financial Caustic Sales ECU Realizations Revenues PBIT Particulars PBIT Margin % (MT) (Rs./MT) (Rs Crs) (Rs Crs) Q3 FY22 1,43,395 43,011 738.3 264.6 35.8 Q3 FY21 1,32,783 19,040 342.8 80.8 23.6 % Shift 8.0 125.9 115.3 227.6 52.1 9M FY22 4,26,987 30,772 1,633.2 442.8 27.1 9M FY2
Slide 17: Chemicals
Chemicals Demand in India from key consuming sectors remained stable, however, Chlorine witnessed demand pressures in Q3, which Industry are easing now Overview For Q3 FY22, imports in India were 0.55 lac MT compared to 0.75 lac MT in Q3 FY21. For Q3 FY22, exports in India were 1.07 lac MT com
Slide 18: Vinyl
Vinyl Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBIT Particulars Realizations Realizations PBIT Margin % (MT) (MT) (Rs Crs) (Rs Crs) (Rs./MT) (Rs./MT) Q3 FY22 16,460 1,44,805 4,896 1,16,841 303.9 120.5 39.7 Q3 FY21 17,090 1,06,782 2,841 60,144 206.9 96.4 46.6 % Shift
Slide 19: Vinyl
Vinyl Revenue for Q3 FY22 up 47% YoY at Rs 304 crs driven by prices. o PVC prices up 36% YoY and carbide prices up 94% YoY. Domestic PVC prices reached over Rs 165,000/MT during Oct’21 and have witness some softening during Nov and Dec’21. Higher prices had an impact of Rs 91 crs. o Carbide sales
Slide 20: Sugar
Sugar Particulars Revenues (Rs Crs) PBIT (Rs Crs) PBIT Margin % Cap. Employed (Rs Crs) Q3 FY22 565.4* 111.9 19.8 2,215.7 Q3 FY21 656.5 97.4 14.8 2,046.1 % Shift (13.9) 14.9 33.4 8.3 9M FY22 1,718.8* 149.5 8.7 2,215.7 9M FY21 2,363.9 208.3 8.8 2,046.1 % Shift (27.3) (28.2) (1.3) 8.3 Capital employed
Slide 21: Sugar
Sugar Distillery Distillery Distillery Sugar Sugar Sales Sugar Power XWR Distillery Power Sales XWR - Cane XWR - B XWR - C Particulars Production (Domestic) (Domestic) (Rs/ unit) Sales (Lac Units) Juice Heavy Heavy (Rs/ (Lac Qtls) (Lac Qtls) XWR (Rs/Qtl) (Lac Units) (Lac Ltrs) (Rs/ Ltrs) (Rs/ Ltrs)
Slide 22: Sugar
Sugar Season update till 31st Dec’2021 : o Recoveries on final molasses for the season stood at o Mills started at end of Oct’21/ early Nov’21. 10.6% (SY22) vs 10.7% (SY21). o Company started to produce ethanol based on cane juice during o Sugar diverted to cane juice and B-Heavy molasses the curr
Slide 23: Shriram Farm Solutions
Shriram Farm Solutions Revenues PBIT Cap. Employed Particulars PBIT Margin % (Rs Crs) (Rs Crs) (Rs Crs) Q3 FY22 446.1 96.7 21.7 40.2 Q3 FY21 395.0 77.8 19.7 65.6 % Shift 13.0 24.3 10.0 (38.8) 9M FY22 836.8 133.6 16.0 40.2 9M FY21 793.4 116.7 14.7 65.6 % Shift 5.5 14.4 8.5 (38.8) The products include
Slide 24: Bioseed
Bioseed Revenues (Rs Crs) PBIT Cap. Employed Particulars PBIT Margin % India International Total (Rs Crs) (Rs Crs) Q3 FY22 52.5 26.9 79.4 (33.6) (42.3) 462.2 Q3 FY21 64.3 26.5 90.7 (9.3) (10.3) 493.9 % Shift (18.3) 1.5 (12.5) - - (6.4) 9M FY22 243.6 101.7 345.3 (24.6) (7.1) 462.2 9M FY21 305.4 93.0
Slide 25: Fertilizers (Urea)
Fertilizers (Urea) Operational Financial Sales Realizations Revenues PBIT Cap. Employed Particulars PBIT Margin % (MT) (Rs./MT) (Rs Crs) (Rs Crs) (Rs Crs) Q3 FY22 1,03,613 34,250 367.2 15.5 4.2 479.1 Q3 FY21 1,08,903 21,028 263.7 36.7 13.9 693.6 % Shift (4.9) 62.9 39.2 (57.7) (69.6) (30.9) 9M FY22 2
Slide 26: Other Businesses
Other Businesses The ‘Others’ Segment in the financial results, includes Cement, Fenesta Building Systems, Vinyl compounding business and Hariyali Kisaan Bazaar. Revenues under ‘Others’ stood at Rs 257 crs in Q3 FY22 from Rs. 215 crs in Q3 FY21. PBIT for the quarter stood at Rs. 13 crs vis-à- vi
Slide 27: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book (Rs Crs) Revenues PBIT Particulars PBIT Margin % Retail Projects Total (Rs Crs) (Rs Crs) Q3 FY22 101.9 77.7 179.6 136.7 17.3 12.7 Q3 FY21 84.9 40.7 125.6 108.9 15.0 13.7 % Shift 20.0 91.1 43.0 25.5 15.9 (7.7) 9M FY22 257.1 202.7 459.7 375.3 4
Slide 28: Cement
Cement Operational Financial Sales Realizations Revenues PBIT Particulars PBIT Margin % (MT) (Rs./MT) (Rs Crs) (Rs Crs) Q3 FY22 87,336 3,818 40.0 (10.5) (26.4) Q3 FY21 1,09,569 3,638 48.4 3.3 6.8 % Shift (20.3) 4.9 (17.5) - - 9M FY22 2,96,150 3,686 131.5 (15.5) (11.8) 9M FY21 2,88,445 3,640 126.8 9.
Slide 29: About Us & Investor Contacts
DCM Shriram Ltd. is an integrated business entity, with extensive and growing presence across the entire Agri value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Bioseed and Fenesta. Access to captive power at all key manufacturi