Slide 1: Exchange filing cover letter for earnings call presentation
The BSE Limited BSE's Corporate Relationship National Stock Exchange of India Limited Department "Exchange Plaza" 1St Floor, New Trading Ring, Bandra-Kurla Complex Rotunda Building, P.J. Towers, Bandra (E) Dalai Street, Fort, Mumbai 400 051 Mumbai 400 001 SRF/SEC-D/16 06.08.2019 Dear Sir, Presentati
Slide 2: SRF Limited Q1FY20 Results Presentation
SRF Limited We always find a better way August 06, 2019 Q1FY20 Results Presentation
Slide 3: Disclaimer
Disclaimer Certain statements in this document may be forward-looking statements. Such forward- looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ ma
Slide 4: Contents
Contents Q1FY20 Results Overview 04 Q1FY20 Segmental Performance 09 Company Overview 25 Outlook 28 3
Slide 5: Q1FY20 Results Overview
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Slide 6: Results Overview - Financial Overview
Results Overview - Financial Overview Abridged Consolidated Statement of Profit & Loss Rs Crore Particulars Q1 FY20 Q1 FY19 % Y-o-Y Gross Operating Revenue 1,828.4 1,676.2 9.1% EBITDA 365.4 322.5 13.3% EBITDA Margin (%) 20.3% 19.6% + 72 Bps Depreciation 94.1 87.9 7.1% Interest 51.8 44.2 17.2% ECF (G
Slide 7: Results Overview - Financial Overview (Key Financial Ratios)
Results Overview - Financial Overview Key Financial Ratios Particulars FY13 FY14 FY15 FY16 FY17 FY18 FY19 EBITDA margin 17.59% 13.59% 20.43% 22.13% 21.42% 17.69% 18.82% PAT Margin 6.69% 4.04% 8.78% 9.51% 10.87% 8.38% 8.51% Net Debt to Equity 0.71 1.01 0.99 0.73 0.67 0.82 0.83 Net Debt to EBITDA 2.06
Slide 8: Results Overview - Revenue & EBIT
Results Overview - Revenue & EBIT Revenues (Rs. crore) EBIT (Rs. crore) 701.6 603.2 631.8 145.6 501.4 447.2 477.4 97.3 72.1 78.7 78.7 60.8 67.2 77.2 5.4 10.1 TTB CB PFB Others TTB CB PFB Others Q1 FY19 Q1 FY20 Q1FY19 Q1FY20 Consolidated figures CB – Chemicals Business; PFB - Packaging Films Business
Slide 9: Results Overview - Revenue Share
Results Overview - Revenue Share Q1FY20 4.2% 24.4% 38.4% 33.0% CB PFB Q1FY19 TTB 4.0% 29.9% Others 37.7% 28.5% CB – Chemicals Business; PFB - Packaging Films Business; TTB – Technical Textiles Business; Others 8
Slide 10: Q1FY20 Segmental Performance
Packaging Technical Chemicals Others Films Textiles
Slide 11: Chemicals Business
Ghemicals Business
Slide 12: Chemicals Business - Results Update
Chemicals Business - Results Update Segment % Contribution % Contribution (Rs. Crore) EBIT % EBIT Margins Revenues to Revenues to EBIT Q1FY20 603.2 33.0% 78.7 13.0% 26.7% Q1FY19 477.4 28.5% 78.7 16.5% 31.0% % Shift 26.3% 0.0% Consolidated figures 11
Slide 13: Chemicals Business - Key Highlights
Chemicals Business - Key Highlights Chemical Business • The performance of Chemicals Business was impacted due to a slower than expected recovery, post Dahej site closure in April • Loss of production in April and May 2019 was a temporary phenomenon and the segment should be able to meet its custome
Slide 14: Chemicals Business - Key Highlights
Chemicals Business - Key Highlights • The Company successfully developed a refrigerant, R-467A, using in-house patented technology which received certification from American Society of Heating, Refrigeration, Air-conditioning Engineers - ASHRAE • First ever refrigerant from India to have received th
Slide 15: Chemicals Business - Key Highlights
Chemicals Business - Key Highlights Specialty Chemicals Business • Recently commissioned facilities at Dahej contributed positively to overall performance • Global Agro-Chemical industry experiencing extended slow down – however SRF witnessing growing demand for its flagship products • Launched two
Slide 16: Chemicals Business - Key Highlights
Chemicals Business - Key Highlights Chemicals Technology Group Chemicals Technology Group (CTG) is actively engaged in the development of new process technologies – Key focus on the niche area of fluorinated molecules Strong internal competencies and capabilities – Equipped with state-of-the-art R&D
Slide 17: Packaging Films Business
acKkaging Films Business
Slide 18: Packaging Films Business - Results Update
Packaging Films Business - Results Update Segment % Contribution % EBIT % Contribution to (Rs. Crore) EBIT Revenues to Revenues Margins EBIT Q1FY20 701.6 38.4% 145.6 20.7% 49.3% Q1FY19 631.8 37.7% 97.3 15.4% 38.4% % Shift 11.1% 49.6% Consolidated figures 17
Slide 19: Packaging Films Business - Key Highlights
Packaging Films Business - Key Highlights Packaging Films Business • Segment delivered robust performance on account of higher volumes and improved margins • All of the manufacturing facilities performed well • Demand for BOPET continues to be healthy • Focus remains on new product offerings and enh
Slide 20: Technical Textiles Business
Technical Textiles Business 19
Slide 21: Technical Textiles Business - Results Update
Technical Textiles Business - Results Update Segment % Contribution % EBIT % Contribution to (Rs. Crore) EBIT Revenues to Revenues Margins EBIT Q1 FY20 447.2 24.4% 60.8 13.6% 20.6% Q1 FY19 501.4 29.9% 72.1 14.4% 28.4% % Shift -10.8% -15.7% Consolidated figures 20
Slide 22: Technical Textiles Business - Key Highlights
Technical Textiles Business - Key Highlights Tyre Cord Fabric (TCF) • This segment was adversely impacted due to lower offtake by customers • Sharp de-growth in automotive sector severely impacted volumes in this segment Belting Fabrics & Polyester Yarn • Both segments delivered positive performance
Slide 23: Others
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Slide 24: Others - Results Update
Others - Results Update Segment % Contribution % EBIT % Contribution to (Rs. Crore) EBIT Revenues to Revenues Margins EBIT Q1 FY20 77.2 4.2% 10.12 13.1% 3.4% Q1FY19 67.2 4.0% 5.41 8.1% 2.1% % Shift 15.0% 86.9% Consolidated figures 23
Slide 25: Others - Key Highlights
Others- Key Highlights Coated Fabrics & Laminated Fabrics • Continues to maintain leadership in the domestic market in Coated Fabrics • In Laminated Fabrics, the Company has reported healthy growth in sales • 100% capacity of hot lamination utilized • Overall oversupply situation in the market remai
Slide 26: Company Overview
Slide 27: Overview - Business Profile
Overview - Business Profile Revenue EBIT No. of Plants Chemicals Fluorochemicals Specialty Chemicals • Refrigerants • Organic intermediates for agro & 2445 384 2 • Pharma propellants pharma • Industrial chemicals Packaging Films for Flexible Packaging Films 2653 411 5 • Bi-axially Oriented Polyethyl
Slide 28: Overview - Growth Levers
Overview Growth Levers Focus on building Nurture innovation leadership businesses through R&D Build and maintain Reposition portfolio market leadership in towards knowledge business segments based products Build a Company known and respected for its R&D capabilities Focus on building knowledge bas
Slide 29: Outlook
Slide 30: Outlook - Chemicals Business
Outlook - Chemicals Business Focus on expanding to new markets / geographies and product offerings Integrated capacities to produce a range of current & future HFC’s to cater to customer needs Focus on moving up the value chain through accelerating qualifications for new molecules and active ingredi
Slide 31: Outlook - Packaging Films Business
Outlook - Packaging Films Business Overall the global packaging films industry is witnessing improvement in capacity utilization. However in short term, there will be supply overhang which will affect margins negatively. Supply overhang likely to continue in the BOPP segment Focus on increasing pace
Slide 32: Outlook - Technical Textiles Business
Outlook - Technical Textiles Business NTCF demand is expected to remain muted in the coming months due to general economic environment Other sub segments of Technical Textiles started to contribute to its performance Improving macroeconomic environment to have a positive impact on belting fabric seg
Slide 33: About Us
About Us Established in 1970, SRF Limited with an annual turnover of ₹7,541 crore (US$ 1,077 million) is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company’s diversified business portfolio covers Technical Textiles, Fluorochemic
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