Sharda Cropchem Ltd. · NSE:SHARDACROP
Sharda Cropchem — FY2015 Earnings Presentation
18 slides from Sharda Cropchem's earnings presentation, May 2015
Slide 1: Fourth Quarter & Full Year FY15 Results Presentation
FOURTH QUARTER & FULL YEAR FY15 RESULTS PRESENTATION MAY 2015
Slide 2: Disclaimer
DISCLAIMER This presentation and the following discussion may contain “forward looking statements” by Sharda Cropchem Limited (“Sharda” or the Company) that are not historical in nature. These forward looking statements, which may include statements relating to future results of operations, financia
Slide 3: Discussion Summary
DISCUSSION SUMMARY Q4 & FY15 Results Highlights Q4 & FY15 Consolidated Financials About Us Business Model Business Strategy & Outlook 3
Slide 4: Q4 & FY15 Results: Key Highlights
Q4 & FY15 RESULTS: KEY HIGHLIGHTS Q4 FY15 YoY ANALYSIS REVENUES & GROSS MARGIN EBITDA & EBITDA MARGIN * PAT & PAT MARGIN 39.6% 35.3% 28.9% 21.9% 18.4% 14.0% 836.1 750.9 3,433.9 534.3 480.8 2,896.6 18.6 % -10.2 % -10.0 % Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Revenues Gross Margin % EBITDA E
Slide 5: Q4 & FY15 Results: Key Highlights
Q4 & FY15 RESULTS: KEY HIGHLIGHTS FINANCIAL UPDATE - • FY15 Total Revenues increased by 34.2% YoY to Rs. 10,658.4 mn from Rs. 7,911.5 mn in FY14. • FY15 Gross Profit increased by 28.4% to Rs. 3,557.7 mn from Rs. 2,771.1 mn in FY14. Gross Margin marginally declined to 33.4% in FY15 compared to 35.0%
Slide 6: Q4 & FY15 Results: Revenue Analysis
Q4 & FY15 RESULTS: REVENUE ANALYSIS Q4 FY15 YoY % CHANGE IN REVENUE FROM OPERATIONS Volumes Impact 31.5% Price/Product/Region Mix Impact 17.7% -6.2% Currency Impact -7.6% FY15 YoY % CHANGE IN REVENUE FROM OPERATIONS Volumes Impact 32.3% Price/Product/Region Mix Impact 34.2% 3.2% Currency Impact -1.3
Slide 7: Q4 & FY15 Results: Revenue Analysis
Q4 & FY15 RESULTS: REVENUE ANALYSIS AGROCHEMICALS VS. NON-AGROCHEMICALS GEOGRAPHICAL PRESENCE – AGROCHEMICAL SALES Total 2,894.1 3,405.2 7,903.7 10,610.6 Total 2,894.1 3,405.2 7,903.7 10,610.6 Revenues Revenues 11.6% 12.1% 14.6% 17.3% 18.6% 9.2% 12.7% 12.2% From From 13.5% 6.0% 14.8% 21.0% 17.3% Ope
Slide 8: Update on Registrations
UPDATE ON REGISTRATIONS REGISTRATIONS AS ON REGISTRATIONS - FORMULATIONS VS. REGISTRATIONS PIPELINE AS ON 31-MAR-15 : 1,409 ACTIVE INGREDIENTS 31-MAR-15: 729 194 325 131 387 164 74 92 1,215 623 342 Mar-15 Mar-15 Mar-15 Europe NAFTA LATAM RoW Formulations AIs Europe NAFTA LATAM RoW REGISTRATIONS PIPE
Slide 9: Ratio Analysis
RATIO ANALYSIS LEVERAGE ANALYSIS RETURN METRICS 5,557.4 6,545.1 39.3% 37.4% 28.0% 27.3% 24.7% 25.2% 1,908.7 1,561.1 399.2 380.7 FY14 FY15 FY14 FY15 Debt Equity C&CE ROE % ROCE % Cash Adj. ROCE % WORKING CAPITAL ANALYSIS * 185 • Total Debt to Equity at 0.06x and Net Cash Position 156 of Rs. 1,180.4 m
Slide 10: Consolidated Profit & Loss Statement
CONSOLIDATED PROFIT & LOSS STATEMENT Particulars (In Rs Mn) Q4 FY15 Q4 FY14 YoY % Q3 FY15 QoQ % FY15 FY14 YoY % Revenue from Operations 3,405.2 2,894.1 17.7% 1,838.1 85.3% 10,610.6 7,903.7 34.2% Other Operating Income 28.8 2.5 1052.1% 7.8 268.7% 47.7 7.7 517.1% Total Revenues 3,433.9 2,896.6 18.6% 1
Slide 11: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET Particulars (In Rs Mn) FY15 FY14 Particulars (In Rs Mn) FY15 FY14 Share Capital 902.2 902.2 Non-current assets Fixed assets 879.7 638.2 Reserves & Surplus 5,642.9 4,655.2 Intangible assets under development 1,487.8 1,334.8 Shareholder's Funds 6,545.1 5,557.4 Goodwill on co
Slide 12: About Us: Company Overview
ABOUT US: COMPANY OVERVIEW Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe, NAFTA and Latin America across fungicides, herbicides and insecticides. Sharda operates with an asset light business model focused on identification and registration o
Slide 13: About Us: Our Presence
ABOUT US: OUR PRESENCE Agrochemical Operations Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions. 13
Slide 14: About Us: Shareholding Structure
ABOUT US: SHAREHOLDING STRUCTURE Market Data As on 29.05.15 (BSE) Share Price Performance Rs 362.2 400.0 Market capitalization (Rs Mn) 32,677.9 300.0 Price (Rs.) 362.2 200.0 Listing Price No. of shares outstanding (Mn) 90.2 Rs 156.0 100.0 Face Value (Rs.) 10.0 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-
Slide 15: About Us: Financial Summary
ABOUT US: FINANCIAL SUMMARY REVENUES EBITDA & EBITDA Margin PAT & PAT Margin CAGR: 24.6% CAGR: 21.6% CAGR: 31.3% 10,658 20.0% 19.6% 9.2% 11.1% 10.6% 14.0% 11.5% 18.2% 18.0% 16.5% 7,777 7,912 6,135 1,760 1,111 1,230 4,418 1,400 1,550 844 1,225 687 806 414 FY11 FY12 FY13 FY14 FY15 FY11 FY12 FY13 FY14
Slide 16: Differentiated Business Model: Asset Light Model
DIFFERENTIATED BUSINESS MODEL: ASSET LIGHT MODEL Agrochemical Value Chain Sharda’s Operating Area Basic & Applied Active Ingredient Formulation & Marketing & Identification Registration Research Manufacturing Packaging Distribution ASSET LIGHT BUSINESS MODEL Sharda’s Model: Traditional Model: Demand
Slide 17: Business Strategy & Outlook
BUSINESS STRATEGY & OUTLOOK Leverage market presence and execution capabilities. Forward Integration - Adopt the factory-to-farmer approach & be a one-stop solution provider. Build own Sales Force Strategy on ground in Mexico, Colombia, South Africa & India . Expand & Strengthen Expand geogr
Slide 18: Thank You
FOR FURTHER QUERIES: THANK YOU Mr. Gautam Arora Mr. Ammeet Sabarwal / Mr. Nilesh Dalvi Chief Financial Officer IR Consultant Email: garora@shardaintl.com Email: ammeet.sabarwal@dickensonir.com Contact No: +91 22 6678 2800 nilesh.dalvi@dickensonir.com Contact No: +91 9819576873 / 9819289131 18