National Fertilizers Ltd. · NSE:NFL
National Fertilizers — Q1 FY2021-22 Earnings Presentation
49 slides from National Fertilizers's earnings presentation, June 2021
Slide 1: Financial Performance for the Quarter Ended June 2021
FINANCIAL PERFORMANCE FOR THE QUARTER ENDED JUNE 2021
Slide 2: Brief Overview
BRIEF OVERVIEW Introduction • Incorporated on 23rd August, 1974. • Share Capital details as on 30.06.2021. Authorized capital : Rs. 1,000.00 crore. Paid up capital : Rs. 490.58 crore. Net-worth : Rs. 2,167.08 crore. Shareholding Pattern as on 30.06.2021: Government of India 74.71% Financia
Slide 3: Brief on Urea Manufacturing Activities
BRIEF ON UREA MANUFACTURING ACTIVITIES UREA Vijaipur‐I Vijaipur‐II Bathinda Panipat Nangal ANNUAL CAPACITY (Lakhs Metric Ton) – 8.646 8.646 5.115 5.115 4.785 32.31 LMT (Revised Assessed Capacity) Annual Capacity after Urea Capacity 9.999 10.662 5.115 5.115 4.785 Enhancement Projects at Vijaipur‐I &
Slide 4: Brief on Other Manufacturing Activities
BRIEF ON OTHER MANUFACTURING ACTIVITIES Other Manufacturing:‐ (Industrial Products, Bentonite Sulphur Bio‐Fertilizers etc.) : S. No. Products Located in No. of Annual Capacity of each streams stream (MT) Industrial Products 1. Nitric acid Nangal 2* 91410 2. Ammonium Nitrate Nangal 1 118800 3. Sodium
Slide 5: Plant Locations, Marketing Territory, Port handling & JV
Plant Locations, Marketing Territory, Port handling &JV 5
Slide 6: 5 Year's Growth Trends
V7 WW Us 5 YEAR’S GROWTH & TRENDS
Slide 7: Sale of All Products
Sale of All Products SL .No. Particulars 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 1 Sale of Urea (LMT) 37.58 39.16 38.98 36.08 39.65 2 Bio‐Fertilizers (LMT) 0.005 0.005 0.006 0.007 0.005 3 BS (LMT) ‐ ‐ 0.07 0.08 0.20 4a Sale of Traded Goods:‐ (Fertilizers) 1. DAP (LMT) 2.14 3.28 5.04 6.85 5.09 2. MOP
Slide 8: Production of Urea
Production of Urea (LMT) Plants 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 NANGAL 5.02 5.43 5.41 5.75 5.47 PANIPAT 5.43 5.60 5.74 5.52 5.83 BATHINDA 5.68 5.63 5.84 5.63 5.77 VIJAIPUR- I 10.58 10.50 10.28 9.84 9.66 VIJAIPUR-II 11.39 10.95 11.32 10.53 11.26 TOTAL 38.10 38.10 38.59 37.27 37.99 Capacity ut
Slide 9: On-Stream Days
On-Stream Days (No. of Days) 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 Units Annual Annual Annual Annual Annual 316 334 331 349 334 NANGAL 334 342 347 335 356 PANIPAT 349 342 355 344 354 BATHINDA 349 346 343 330 328 VIJAIPUR- I 338 320 348 329 347 VIJAIPUR-II 9
Slide 10: Energy Consumption (Gcal/MT)
ENERGY CONSUMPTION (GCAL/MT) Units FY 2016‐17 FY 2017‐18 FY 2018‐19 FY 2019‐20 FY 2020‐21 Nangal 7.012 6.819 6.728 6.722 6.750 Panipat 7.112 6.762 6.700 6.956 6.877 Bathinda 6.924 6.859 6.719 6.864 6.665 Vijaipur I 5.784 5.753 5.885 5.950 5.782 Vijaipur II 5.364 5.372 5.438 5.527 5.482 10
Slide 11: Financial Performance at a Glance
FINANCIAL PERFORMANCE AT A GLANCE (Rs. crore) SL .No. Particulars 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 1 Production (Urea) (LMT) 38.10054 38.10250 38.59 37.27 37.99 2 Capacity Utilization w.r.t. RAC (Urea %) 117.90 117.94 119.46 115.35 117.59 3 Sale of Urea (LMT) 37.58 39.16 38.98 36.08 39.65 4 S
Slide 12: Financial Performance at a Glance
FINANCIAL PERFORMANCE AT A GLANCE (Rs. crore) SL. No. Particulars 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 20 Net Fixed Assets 4109 4144 4127 4382 4478 21 Working Capital 1424 981 1144 706 552 22 Long Term Borrowings 981 171 341 769 752 STL (without SBA) 1989 2695 4670 6119 1135 Special Banking Arran
Slide 13: Sale of All Fertilizers (Quantity)
Sale of All Fertilizers (Quantity ) LMT Imported All Fertilizers Fertilizers, Compost, Bio‐ 9.27 9.10 Fertilizers & 60.00 6.27 Other Traded 50.00 3.93 Goods 2.20 10.45 Imported Urea Quantity in LMT 40.00 3.70 11.85 (Govt. A/c) 30.00 20.00 37.58 39.16 38.98 36.08 39.65 Urea 10.00 Manufactured 0.00 FY
Slide 14: Sale of Urea Manufactured (Quantity)
Sale of Urea Manufactured (Quantity ) LMT Sale of Urea (Manufactured) 42.00 39.16 38.98 39.65 39.00 37.58 36.08 36.00 Quantity in LMT 33.00 30.00 27.00 24.00 21.00 18.00 15.00 FY 16‐17 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 Period 14
Slide 15: Sale of Urea (Manufactured + Traded)
Sale of Urea (Manufactured + Traded(Govt. a/c) (Quantity ) LMT Sale of Urea (Manufactured+Traded) 55.00 50.00 45.00 Sale of Urea 10.45 Quantity in LMT 40.00 3.70 11.85 (Traded) 35.00 30.00 25.00 37.58 39.16 38.98 36.08 39.65 Sale of Urea 20.00 (Manufactured) 15.00 10.00 FY 16‐17 FY 17‐18 FY 18‐19 FY
Slide 16: Sale Value of All Fertilizers
Sale value of All Fertilizers (Rs. crore) Sale Value of all Fertilizers 13000 12555.90 11976.53 Sale Values in Rs. Crore 12000 11190.72 11000 10000 9000 8733.61 8000 7410.93 7000 6000 5000 FY 16‐17 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 Period Note:‐The decrease in sales value of all fertilizers of c
Slide 17: EBITDA
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) (Rs. crore) EBITDA 1200 1013.24 1000 913.62 858.65 Value in Rs. crore 800 600 555.21 535.86 400 200 0 FY 16‐17 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 Period 17
Slide 18: EBITDA to Gross Sale %
EBITDA TO GROSS SALE % EBITDA TO GROSS SALE % 9.00% 8.30% 7.93% 8.00% 7.26% 7.00% 6.72% 6.03% 6.00% Value in % 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% FY 16‐17 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 Period 18
Slide 19: Subsidy Accrued vs Subsidy Outstanding
Subsidy accrued V/S Subsidy outstanding (Rs. crore) Subsidy Claimed V/s subsidy outstanding after receipt of SBA 9000 8295.68 8111.36 8000 6897.42 7000 Subsidy Claimed Value in Rs. crore 5934.55 5774.97 6000 4958.15 5110.17 5000 4000 3501.34 Subsidy 2879.93 Outstanding 3000 2162.69 (Net of SBA) 2000
Slide 20: Finance Cost
Finance cost (Rs. crore) Finance cost 450 405.48 400 350 Value in Rs. crore 316.36 291.23 300 250 189.84 189.57 200 150 100 50 1 0 FY 16‐17 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 Period Finance cost has decrease by Rs 114.25 crore as compared to CPLY (28.18%) due to: ‐ lower interest rates (4.46% a
Slide 21: Profit Before Tax (PBT)
Profit Before Tax (PBT) (Rs. crore) PBT 500 463.37 400 324.88 334.83 343.46 Value in Rs. crore 300 200 100 0 ‐100 FY 16‐17 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 ‐200 ‐300 ‐252.71 Period PBT of Rs 136.14 crore is worked out before exceptional item of Rs 388.85 crore. After considering exceptional i
Slide 22: Profit After Tax (PAT)
Profit After Tax (PAT) (Rs. crore) Profit After Tax (PAT) 400 298.45 300 249.63 Value in Rs. crore 208.16 212.77 200 100 0 FY 16‐17 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 ‐100 ‐200 ‐171.01 Period 22
Slide 23: Earning Per Share (EPS)
Earning Per Share (EPS) (Rs. / Share) Earning Per Share (EPS) 8 6.08 6 5.09 4.24 4.34 Amount In Rs. 4 2 0 FY 16‐17 FY 17‐18 2018‐19 2019‐20 2020‐21 ‐2 ‐4 ‐3.49 23
Slide 24: Short Term Borrowings
Short Term Borrowings (Rs. crore) Short term borrowings including SBA* 8000 7333.37 7000 6122 Value in Rs. Crore 6000 5000 4000 3154 2890 3000 2000 1135.11 1000 0 FY 16‐17 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 Period *Borrowings at concessional interest rate arranged by GoI through special banking arr
Slide 25: Performance for the Quarter June 2021
PERFORMANCE FOR THE QUARTER JUNE‐2021 [The Unaudited Quarterly Results for June 2021 approved by Board in its meeting held on 12.08.2021] 25
Slide 26: Performance Highlights for Quarter Ended 30.06.2021
PERFORMANCE HIGHLIGHTS FOR QUARTER ENDED 30.06.2021 Production of Urea of 9.22 LMT [CPLY 9.38 LMT]. Capacity utilization of 114.10 % of RAC. Sale of total Urea including Urea imported on Govt. A/c and RFCL Urea 9.67 LMT [CPLY 10.87 LMT]. Sale of all fertilizers of 10.62 LMT [CPLY 12.84 LMT].
Slide 27: Overall Performance
OVERALL PERFORMANCE (Rs. crore) Particulars Qtr. CPLY Increase/(Decrease) June 2021 Rs. crore % Total Revenue from Operation 2632.39 2831.84 (199.45) (7) Total Expenses (excluding Depreciation & Finance Cost) 2535.78 2507.72 28.06 1 Earnings before Interest, Tax Depreciation and Amortization (EBITDA
Slide 28: Sale of Fertilizers
Sale of Fertilizers LMT Particulars Qr. June-21 CPLY Increase/(Decrease) LMT LMT LMT % Sale of Manufactured Fertilizers Urea 9.05 10.02 (0.97) (10) Bio Fertilizers and Bentonite 0.03 0.03 0.00 - Sulphur Total 9.08 10.05 (0.97) (10) Sale of Traded Fertilizers Imported Urea (Govt. A/c) 0.62 0.85 (0.23
Slide 29: Production & Purchase of Fertilizers
Production & Purchase of Fertilizers LMT Particulars Qr. June-21 CPLY Increase/(Decrease) LMT LMT LMT % Production Urea Production 9.22 9.38 (0.16) (2) Bio Fertilizers and Bentonite Sulphur Production 0.04 0.02 0.02 100 Total Production (A) 9.26 9.40 (0.14) (1) Purchase Imported Urea (Govt. A/c) 1.9
Slide 30: Zone wise Sale of Urea
Zone wise sale of urea (Including Imported Urea on Govt. Account and RFCL Urea) (Lakh MT) Zonal Offices April-June April-June Increase/ 2021 2020 (Decrease) Chandigarh Zone 3.86 4.40 (0.54) Bhopal Zone 3.01 2.95 0.06 Lucknow Zone 2.04 2.74 (0.70) Hyderabad Zone 0.76 0.78 (0.02) TOTAL 9.67 10.87 (1.2
Slide 31: Sale of DAP/MOP/APS/NPK/Compost/WSF/SSP
Sale of DAP/MOP/APS/NPK12:32:16/NPK10:26:26/COMPOST/WSF/SSP (Lakh MT) Apr – Jun Apr – Jun Increase/ Particulars 2021 2020 % (Decrease) DAP 0.25 1.08 (0.83) (77) MOP 0.22 0.28 (0.06) (21) APS 0.22 0.26 (0.04) (15) NPK 12:32:16 - 0.14 (0.14) (100) NPK 10:26:26 0.12 0.11 0.01 9 Compost 0.11 0.04 0.07 1
Slide 32: Details of Expenses for the Quarter June 2021
DETAILS OF EXPENSES FOR THE QUARTER JUNE‐2021 32
Slide 33: Details of Expenses (Excluding Depreciation and Finance Cost)
Details of Expenses (Excluding Depreciation and Finance Cost) Particulars Qr. June CPLY Increase/ Key reasons 21 (Decrease) Production of urea 9.22 9.38 (0.16) (LMT) Sale of urea (Own) 9.05 10.02 (0.97) (LMT) (Rs. Crore) (Rs. Crore) (Rs. Crore) Cost of Materials Mainly due to increase in average gas
Slide 34: Urea Production
Lakh MT UREA PRODUCTION Increase/ Unit Apr – Jun 2021 Apr – Jun 2020 (Decrease) Nangal 1.42 1.43 (0.01) Panipat 1.26 1.46 (0.20) Bathinda 1.15 1.31 (0.16) Vijaipur I 2.54 2.66 (0.12) Vijaipur II 2.85 2.52 0.33 Total 9.22 9.38 (0.16) Nangal Unit – Mainly due to shutdown taken at unit from 8.06.2021
Slide 35: On-Stream Days
On-Stream Days Apr – Jun 21 Apr – Jun 20 Variance with CPLY Units Increase/(Decrease) 87 88 (1) NANGAL 77 91 (14) PANIPAT 72 83 (11) BATHINDA 87 91 (4) VIJAIPUR- I 89 80 9 VIJAIPUR-II 35
Slide 36: Energy Consumption
ENERGY CONSUMPTION (GCAL/MT OF UREA) Revised Energy Norms Energy Norms for Actual Actual Units for Apr – Jun‐ 21* June ‐20 Quarter** Apr – Jun 21 Apr – Jun 20 Nangal 6.500 7.035 6.668 6.736 Panipat 6.500 7.503 6.960 6.789 Bathinda 6.500 7.381 6.664 7.037 Vijaipur I 5.500 5.864 5.708 5.821 Vijaipur I
Slide 37: Profit Variance Analysis for Quarter Ended 30th June 2021
PROFIT VARIANCE ANALYSIS FOR QTR ENDED 30th JUNE 2021 Company has incurred Loss Before Tax of Rs 5.03 crore during the quarter ended June‐21 as against Profit Before Tax of Rs 151.50 crore during CPLY i.e. decrease in profit by Rs 156.53 crore. PBT has decreased mainly due to: 1. Past period subsidy
Slide 38: Break Up of Total Finance Cost for Qtr June 2021
BREAK UP OF TOTAL FINANCE COST FOR Qtr. JUNE 2021 Rs. Crore The finance cost for the Qtr ended June-2021 was Rs. 27.47 crore as compared to Rs. 101.73 crore during CPLY as per details below: Particulars Qr. June 21 CPLY Increase/ (Decrease) Interest on Long Term Loans 5.51 2.59 2.92 Total Interest o
Slide 39: Analysis of Finance Cost on Working Capital
ANALYSIS OF FINANCE COST ON WORKING CAPITAL FOR Qtr. JUNE 2021 Rs. crore Increase/ Particulars Qr. June-21 CPLY (Decrease) Interest on working capital Loans 10.15 86.26 (76.11) (excluding interest on trading activities) Interest on Trading Activities 9.40 9.08 0.32 Other borrowing costs (CP related
Slide 40: Segment Results for Qtr June 2021
SEGMENT RESULTS FOR Qtr June 2021 40
Slide 41: Segment Results
SEGMENT RESULTS Rs. crore Particulars Apr – Jun 21 Apr – Jun 20 Segment Revenue Own Fertilizers (Urea, BS and Bio-fertilizers) 2150.54 2194.34 81.70% 77.49% Fertilizer Trading 372.62 605.51 14.15% 21.38% Other Products 109.23 31.99 4.15% 1.13% Total 2632.39 2831.84 Segment Results Own Fertilizers (U
Slide 42: Sale Breakup Segment wise
Sale Breakup Segment wise‐Urea/Traded goods/Industrial Product & Others Product & Services (Value & % Sale) Qtr‐June‐2021 Qtr‐June‐2020 Fertilizer Other Trading , ₹ Other Fertilizer Products & 605.51, Products & Trading , ₹ services, ₹ 21.38% services, ₹ 372.62, 109.23, 31.99, 1.13% 14.15% 4.15% Own
Slide 43: Consolidated Accounts
CONSOLIDATED ACCOUNTS 43
Slide 44: Consolidated Accounts
CONSOLIDATED ACCOUNTS The Consolidated Financial Statements are prepared in accordance with the principles and procedures for the preparation and presentation of consolidated accounts as set out in the accounting standards (Ind‐AS 28) as prescribed under Section 133 of the Companies Act, 2013. The
Slide 45: Consolidated Accounts
CONSOLIDATED ACCOUNTS Rs. crore STANDALONE CONSOLIDATED Particulars Qtr June 21 Qtr June 20 Qtr June 21 Qtr June 20 Revenue from operations 2632.39 2831.84 2632.39 2831.84 Total Expenses 2617.94 2584.75 2617.94 2584.75 Profit/ (Loss) from operations before other 14.45 247.09 14.45 247.09 income, fin
Slide 46: New Projects and Other Activities
NEW PROJECTS AND OTHER ACTIVITIES 46
Slide 47: Projects and Other Activities Status
Project s and Other Activities status Company has contributed Rs. 491.46 crore upto 30.04.2021 towards equity in its JV Company (RFCL). Company has entered into a manpower management consultancy agreement with RFCL for a period of 5 years which includes recruitment and training of manpower for R
Slide 48: Overview of Ramagundam Project
Overview of Ramagundam Project (Being executed by RFCL) Ramagundam Fertilizers and Chemicals Limited (RFCL) Joint Venture of NFL, Engineers India Limited (EIL) & Fertilizers Corporation of India Limited (FCIL) is undertaking the revival of Ramagundam unit of FCIL through RFCL Plant Capacity Ammoni
Slide 49: Thank You
THANK YOU 49
National Fertilizers — Q1 FY2021-22 Earnings Presentation on 6ix