Slide 1: Q2 & H1 FY25 Results Earnings Presentation
Q2 & H1 FY25 RESULTS Earnings Presentation November 2024 |
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Usha Martin Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any o er, recommendation or invitation to purchase or subscribe for any securities, an
Slide 3: Key financial highlights – Consolidated Q2 & H1 FY25
In Rs. crore Key financial highlights – Consolidated Q2 & H1 FY25 NET REVENUE FROM OPERATIONS OPERATING EBITDA MARGINS 18.4% 18.6% 18.0% 18.1% 18.3% 1,718 1,599 315 290 826 891 785 161 144 154 Q2 FY24 Q1 FY25 Q2 FY25 H1 FY24 H1 FY25 Q2 FY24 Q1 FY25 Q2 FY25 H1 FY24 H1 FY25 Shift (%) QoQ: 7.8% YoY: 1
Slide 4: Revenue breakdown by segment
In Rs. crore Revenue breakdown by segment WIRE ROPE WIRE & STRAND 1,255 1,108 151 134 595 661 80 554 69 71 Q2 FY24 Q1 FY25 Q2 FY25 H1 FY24 H1 FY25 Q2 FY24 Q1 FY25 Q2 FY25 H1 FY24 H1 FY25 Shift (%) QoQ: 11.1% YoY : 19.2% 13.3% Shift (%) QoQ: 12.5% YoY: 16.2% 12.6% LRPC Core Wire-Rope segment
Slide 5: Diversified presence across geographies and segments
Diversified presence across geographies and segments Revenue Segmentation for H1 FY25 PRODUCT SEGMENTATION END INDUSTRY SEGMENTATION1 GEOGRAPHY SEGMENTATION Others, 8% Others, 3% America, 8% Fishing, 3% Mining, 6% Engineering, 20% Middle East & Africa, 9% Wire & Strand, 9% Utilities, 4% Elevator, 9%
Slide 6: Successfully managing raw-material volatility
Successfully managing raw-material volatility STEEL PRICE (RS. PER TONNE) 55,362 55,392 55,402 54,106 53,109 51,913 Q2FY24 Q3FY24 Q4FY24 FY24 Q1FY25 Q2FY25 EBITDA/TONNE2 (RS.) 34,018 32,628 32,299 32,253 31,784 31,178 Q2FY24 Q3FY24 Q4FY24 FY24 Q1FY25 Q2FY25 Note 1: All figures mentioned in the slide
Slide 7: Profitability indicators remain strong
Profitability indicators remain strong ROCE (%) ROE (%) 21.2% 21.9% 20.8% 19.2% 18.8% 18.8% 19.2% 18.0% FY22 FY23 FY24 Sept.'24* FY22 FY23 FY24 Sept'24* INTEREST COVERAGE (X) FIXED ASSET TURNOVER (X) 3.2 3.4 23.2 20.3 2.7 2.6 16.0 9.2 FY22 FY23 FY24 Sept'24 FY22 FY23 FY24 Sept'24 ^ Note 1: All figures
Slide 8: Balance sheet remains significantly de-risked
In Rs. crore Balance sheet remains significantly de-risked GROSS DEBT NET DEBT 355 347 318 191 292 185 124 127 FY22 FY23 FY24 Sept.'24 FY22 FY23 FY24 Sept.'24 GROSS DEBT TO EQUITY (X) NET DEBT TO EQUITY (X) 0.21 0.11 0.17 0.09 0.12 0.12 0.05 0.05 FY22 FY23 FY24 Sept.'24 FY22 FY23 FY24 Sept.'24 Note 1
Slide 9: Net working capital to turnover remains steady
Net working capital to turnover remains steady NET WORKING CAPITAL (RS. CRORE) NET WORKING CAPITAL TO TURNOVER (LTM, %) 1,185 32.8% 32.7% 1,089 1,028 28.8% 29.1% 874 Mar-22 Mar-23 Mar-24 Sept. 24 Mar-22 Mar-23 Mar-24 Sept.24 CURRENT RATIO (X) 2.9 2.5 2.6 2.2 Mar-22 Mar-23 Mar-24 Sept. 24 Note 1: All
Slide 10: Healthy cash flows despite capex spend
In Rs. crore Healthy cash flows despite capex spend OPERATING CASH FLOW (OCF) BEFORE INCOME TAX AND % TO EBITDA 94% 67% 63% 561 38% 345 146 200 The OCF to EBITDA2 in H1 FY25 at 63% primarily due FY22 FY23 FY24 H1 FY25 to inventory build up FREE CASH FLOW Strong focus on optimizing working capital
Slide 11: Long term issuer rating at 'IND A+' / Outlook: Stable
Long term issuer rating at ‘IND A+’ / Outlook: Stable A+ A A- BBB+ BBB BBB- BB+ BB BB- FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 Aug'24 India Ratings and Research Pvt. Ltd. recently upgraded Usha Martin Ltd.’s long-term issuer rating from ‘IND Current Rating A+ A/Positive' to 'IND A+/Stable’ Outlook Sta
Slide 12: Management comment
Management comment Commenting on the performance Mr. Rajeev Jhawar, Managing Director said: “I am pleased to share that we have delivered a resilient financial performance and strong operational execution in Q2 FY25. Usha Martin registered a 11.0% year-on-year growth in volumes Mr. Rajeev Jhawar and
Slide 13: Annexure
ANNEXURE Q2FY25 Earnings Presentation | 13
Slide 14: Abridged Consolidated P&L statement
In Rs. crore Abridged Consolidated P&L statement Y-o-Y Change Q-o-Q Change Y-o-Y Change Q2 FY25 Q2 FY24 Q1 FY25 H1 FY25 H1 FY24 (%) (%) (%) Revenue from Operations 891.2 784.7 13.6% 826.4 7.8% 1,717.5 1,599.1 7.4% Operating EBITDA 160.8 144.3 11.4% 154.0 4.4% 314.8 290.0 8.6% Operating EBITDA Margin
Slide 15: Abridged Standalone P&L statement
In Rs. crore Abridged Standalone P&L statement Y-o-Y Change Q-o-Q Change Y-o-Y Change Q2 FY25 Q2 FY24 Q1 FY25 H1 FY25 H1 FY24 (%) (%) (%) Revenue from Operations 547.5 498.4 9.8% 514.1 6.5% 1,061.6 999.0 6.3% Operating EBITDA 105.7 99.9 5.8% 101.4 4.2% 207.1 191.0 8.4% Operating EBITDA Margin (%) 19
Slide 16: Key operational highlights – Consolidated Q2 & H1 FY25
Key operational highlights – Consolidated Q2 & H1 FY25 Figure in (‘000 MT) SALES VOLUMES1 (‘000 MT) Increase in overall volumes YoY, primarily due to an increase in 89 96 Wire Rope and Wire & Strand volumes Segment wise contribution to overall volumes H1 FY25: 45 46 50 Wire Rope – 54% (FY24: 5
Slide 17: Key operational highlights – Standalone Q2 & H1 FY25
Key operational highlights – Standalone Q2 & H1 FY25 Figure in (‘000 MT) SALES VOLUMES1 Domestic Export Increase in overall volumes YoY, primarily due to an increase in Wire 84 Rope and Wire & Strand volumes 77 21 21 Segment wise contribution to overall volumes H1 FY25: 39 41 43 10 11 10 Wire
Slide 18: Key financial highlights – Standalone Q2 & H1 FY25
In Rs. crore Key financial highlights – Standalone Q2 & H1 FY25 NET REVENUES FROM OPERATIONS OPERATING EBITDA MARGINS Domestic Export 20.0% 19.7% 19.3% 19.1% 19.5% 999 1,062 207 191 354 355 498 514 547 100 101 106 177 187 168 645 707 321 327 380 Q2 FY24 Q1 FY25 Q2 FY25 H1 FY24 H1 FY25 Q2 FY24 Q1 FY25
Slide 19: Globally recognized certifications and licenses
Globally recognized certifications and licenses ISO 45001: 2018 ISO 14001: 2015 Certificate of Authority issued by ISO 9001: 2015 Occupational Health & Safety Environmental management American petroleum Quality management systems institute Systems Approved Manufacturer of DGMS Manufacturing Steel Wir
Slide 20: Market snapshot
Market snapshot As on Key Market Statistics th SHAREHOLDING PATTERN AS ON 30TH SEPT. 2024 30 Sept, 2024 BSE/NSE Ticker 517146 / USHAMART Public, 30% CMP (Rs.) 358.80 Promoters, 43% Market Cap (Rs. Crore) 10,933 Number of outstanding shares (Crore) 30.47 Face Value 1.00 Corporate Bodies, 13% FPI, 14%
Slide 21: Concall details
Concall details Usha Martin Ltd. Q2 & H1 FY25 Earnings Conference Call Time: November 7, 2024 at 2:00 PM IST To enable participants to connect to the conference call without having to wait for an operator, please register at the below mentioned link: Pre-registration You will receive dial in numbers
Slide 22: Contact us
Contact us About Us: Mr. Abhijit Paul (Chief Financial O cer) / Established in the year 1960, Usha Martin is a leading global and India’s No. 1 specialty Mr. Anil Kumar (Secretary to CFO) steel wire rope solutions provider. The Company is also engaged in the manufacturing of high-quality wires, low
Slide 23: Thank you
THANK YOU USHA MARTIN LIMITED 2A, Shakespeare Sarani, contact@ushamartin.com Kolkata - 700 071, India www.ushamartin.com |