Electrosteel Castings Ltd. · NSE:ELECTCAST
Electrosteel Castings — Q4 FY2023 Earnings Presentation
30 slides from Electrosteel Castings's earnings presentation, May 18, 2023
Slide 1: Regulation 30 disclosure letter to stock exchanges
18 May, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Fort, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 500128 Symbol: ELECTCAST ISIN : INE086A01029 Dear Sir/Madam, Sub: Disclosure under Regulati
Slide 2: Electrosteel Castings Limited Earnings Presentation May 2023
Electrosteel Castings Limited Earnings Presentation | May 2023
Slide 3: Table of Content
Table of Content 3 Company Overview 11 Management Team 14 Industry Overview 17 Financial Highlights 25 Annexures
Slide 4: Company Overview
Ee Company Overview
Slide 5: Largest Beneficiary of Water Infrastructure Play
LARGEST BENEFICIARY OF WATER INFRASTRUCTURE PLAY Manufacturing Excellence Capex to Tap the Growing Notable Financial Establishing a Niche Play & Global Presence Water Infra Demand Track-record Promoters Expertise of over 5 Multi-locational Strategic INR 600 Crore Capex Plan Highest ever Reve
Slide 6: Dominance in Domestic Markets and Exports
DOMINANCE IN DOMESTIC MARKETS AND EXPORTS Strong Entry Integrated production facilities across 5 plants Barrier & Market Enabling economies of scale Dominance Leadership: Commands 25 % market share and 65-70 % in Exports from India Diversified product portfolio including Ductile Iron Pipes,
Slide 7: Global Footprint
GLOBAL FOOTPRINT Electrosteel Castings UK Ltd Electrosteel Europe Electrosteel Electrosteel Trading SA (100%) Electrosteel USA SA Spain Doha Trading LLC (49%) Electrosteel Algerie Electrosteel West Bengal: Khardah, SPA Gulf Haldia Andhra Pradesh: Srikalahasthi Tamil Nadu: Elavur Electrosteel Brazil
Slide 8: Sustainable Growth in Domestic and Exports
SUSTAINABLE GROWTH IN DOMESTIC AND EXPORTS DI Capacity (in Lakh MT) and Production (in Lakh MT) Asia, 3.3% Africa, 0.3% 7.15 Middle East, 5.03 6.04 21.4% 5.00 Europe -5.00 USA, 13.7% Exports, (Other than FY23 UK), 52.4% 5.80 6.36 6.80 -15.00 FY21 FY22 FY23 UK, 8.8% DI Capacity DI Production Domestic
Slide 9: Integrated Manufacturing Facilities Capacities
INTEGRATED MANUFACTURING FACILITIES CAPACITIES DI Pipe – 6,80,000 MTPA Liquid Metal – 8,13,000 MTPA Sinter – 8,60,000 MTPA DI Fittings – 21,000 MTPA Coated Pipes – 1,20,000 MTPA Cement – 99,000 MTPA CI Spun Pipe – 90,000 MTPA Ferro Silicon – 9 MVA*3 STP – 5 MLD 8
Slide 10: Fully Integrated Manufacturing Process
FULLY INTEGRATED MANUFACTURING PROCESS Iron Ore fines Raw Materials Coal Sinter plant Coke Oven Limestone Sinter BF Grade Coke Blast Furnace Pig Iron Power Plant Legend Coke Fines Limestone Fines MBF Slag Molten Metal BF Gas Raw Materials Intermediates Mini Cement Plant Brick Plant Ferro Alloys Plan
Slide 11: Milestones
MILESTONES Commissioning of Project to use treated sewerage water from Tirupati Municipal Corporation for industrial purpose at SW unit Capacity of COP Commissioning of Implemented Commissioning of Sinter increased & 150,000 TPA COP SAP ERP system, Plant of 500,000 TPA at installation of at
Slide 12: Management Team
Ee Management Team
Slide 13: Board of Directors
BOARD OF DIRECTORS Mr. Pradip Kumar Khaitan Independent Director, Chairman • He is a B.Com, LLB and Attorney-at-Law (Gold Medalist). • Has experience in the fields of commercial and corporate law, tax law, arbitration, foreign collaborations, M&A, restructuring and de-mergers. Mr. Ashutosh Agarwal W
Slide 14: Board of Directors
BOARD OF DIRECTORS Mrs. Radha Kejriwal Agarwal Whole Time Director • She is a graduate in Psychology from Cardiff university, UK & post graduate in Human resources management & organizational analysis from King’s college, London. • She looks after Khardah and Bansberia units along with Corporate HR
Slide 15: Industry Overview
Ee Industry Overview
Slide 16: Overview: DI Pipes Market
OVERVIEW: DI PIPES MARKET DI pipe market is expected to grow at a CAGR of ~11-13% till FY31 due to huge investments being made by the govt in water infrastructure projects. Domestic Industry Capacity (Lakh MT) (March 2023) Key ongoing Schemes • A phenomenal outlay of INR 3.60 lakh Crore has been ear
Slide 17: Financial Highlights
Ee Financial Highlights
Slide 18: Q4 & FY23 Result Highlights (Standalone)
Q4 & FY23 RESULT HIGHLIGHTS (STANDALONE) Particulars (in INR Crores) Q4FY23 Q4FY22 YoY Q3FY23 QoQ FY23 FY22 YoY Revenues 1,786 1,584 13% 1,751 2% 7,013 5,095 38% Cost of Goods Sold 1,012 830 22% 1,039 (3%) 3,964 2,508 58% Gross Profit 774 754 3% 711 9% 3,049 2,587 18% Gross Profit margin 43.3% 47.6%
Slide 19: Standalone Balance Sheet
STANDALONE BALANCE SHEET Equity and Liabilities (INR Crores) FY22 FY23 Assets (INR Mn) FY22 FY23 (A) Share Capital 59 59 Non-Current Assets (B) Other Equity 3,928 4,211 (A) Property, Plant & Equipment 2,645 2,605 Total Equity 3,987 4,270 (B) Capital Work In Progress 1,208 1,302 (C) Right Of Use Asse
Slide 20: Financial Snapshot (Standalone)
FINANCIAL SNAPSHOT (STANDALONE) Operating Revenues (in INR Crores) Gross Profit (in INR Crores) & Gross Margin (%) 53.5% 50.8% 43.5% 7,013 5,095 3,049 2,587 3,138 1,679 FY21 FY22 FY23 FY21 FY22 FY23 EBITDA (in INR Crores) & EBITDA Margin (%) PAT (in INR Crores) & PAT Margin (%) 14.3% 14.1% 11.7% 6.2
Slide 21: Financial Snapshot (Standalone)
FINANCIAL SNAPSHOT (STANDALONE) Net Leverage Analysis Working Capital Analysis (in Days) 129 129 125 0.47 0.43 0.36 FY21 FY22 FY23 FY21 FY22 FY23 Net Debt to Equity Return on Capital Employed Return on Equity 10.5% 9.0% 8.2% 7.8% 6.7% 3.6% FY21 FY22 FY23 FY21 FY22 FY23 20
Slide 22: Q4 & FY23 Result Highlights (Consolidated)
Q4 & FY23 RESULT HIGHLIGHTS (CONSOLIDATED) Particulars (in INR Crores) Q4FY23 Q4FY22 YoY Q3FY23 QoQ FY23 FY22 YoY Revenues 1,909 1,586 20% 1,867 2% 7,360 5,337 38% Cost of Goods Sold 1,038 776 34% 1,060 (2%) 3,989 2,478 61% Gross Profit 870 809 8% 807 8% 3,372 2,858 18% Gross Profit margin 45.6% 51%
Slide 23: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET Equity and Liabilities (INR Mn) FY22 FY23 Assets (INR Mn) FY22 FY23 (A) Share Capital 59 59 Non-Current Assets (B) Other Equity 4,044 4,323 (A) Property, Plant & Equipment 2,703 2,668 (C) Non-Controlling Interest 1 1 (B) Capital Work In Progress 1,208 1,302 Total Equity 4,
Slide 24: Financial Snapshot (Consolidated)
FINANCIAL SNAPSHOT (CONSOLIDATED) Operating Revenues (in INR Crores) Gross Profit (in INR Crores) & Gross Margin (%) 55.1% 53.6% 45.8% 7,360 3,372 5,337 2,858 3,580 1,972 FY21 FY22 FY23 FY21 FY22 FY23 EBITDA (in INR Crores) & EBITDA Margin (%) PAT (in INR Crores) & PAT Margin (%) 15.1% 14.1% 11.1% 7
Slide 25: Financial Snapshot (Consolidated)
FINANCIAL SNAPSHOT (CONSOLIDATED) Net Leverage Analysis Working Capital Analysis (in Days) 136 140 131 0.50 0.48 0.43 FY21 FY22 FY23 FY21 FY22 FY23 Net Debt to Equity Return on Capital Employed Return on Equity 10.0% 8.5% 9.1% 7.2% 7.7% 5.5% FY21 FY22 FY23 FY21 FY22 FY23 24
Slide 26: Annexures
Ee Annexures
Slide 27: Ductile Iron Pipes
DUCTILE IRON PIPES • Electrosteel Castings Ltd. is the pioneer in setting up the first Ductile Iron Pipe plant in the Indian Sub-continent. • It is one of the most preferred pipes for water supply & sewage applications across the Globe. • The concept of piped irrigation is catching up fast in India
Slide 28: Ductile Iron Fittings
DUCTILE IRON FITTINGS • Amongst premier manufacturers of Ductile Iron fittings in India • Used in connection with DI pipes of both Flanged & Socket ended • Two manufacturing plants - Khardah & Haldia, both are equipped with latest machineries • We are the only manufacturer in India who are capable o
Slide 29: Safe Harbour
SAFE HARBOUR This presentation has been prepared by Electrosteel Castings Limited solely to provide information about the Company. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such informa
Slide 30: Electrosteel Castings Limited Corporate Office IR Contact Details
Electrosteel Castings Limited Corporate Office G.K. Tower, 19, Camac Street, Kolkata - 700 017 Contact: +91-33-22839990 www.electrosteel.com IR Contact Details Hiral Keniya | Vikash Verma hiral.keniya@in.ey.com | vikash.verma1@in.ey.com
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