Epigral Ltd · NSE:EPIGRAL
Epigral — Q3 FY2024 Earnings Presentation
18 slides from Epigral's earnings presentation, Jan 24, 2024
Slide 1: Cover letter to stock exchanges
24.01.2024 To, National Stock Exchange of India Limited BSE Limited “Exchange Plaza”, Floor- 25, P J Tower, Bandra-Kurla Complex, Dalal Street, Bandra (East) Mumbai 400 051 Mumbai 400 001 SYMBOL:- EPIGRAL Scrip Code: 543332 Dear Sirs, Sub.: Earnings Presentation for Un-Audited Financial Results – Q3
Slide 2: Q3FY24 Earnings Presentation
Epigral Limited (formerly known as Meghmani Finechem Limited) Q3FY24 Earnings Presentation
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Epigral Limited (the “Company”) solely for the information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall not form
Slide 4: Company Overview
Company Overview Founded: 2007 30% 22% 5 Year Revenue CAGR (FY23) 5 Year EBITDA CAGR (FY23) Employees: 900+ 0.8x 32% Debt to Equity (FY23) ROCE (FY23) Capacity: Chlor-Alkali# – 421 KTPA Derivatives# – 190 KTPA Revenue from operations (₹ Cr) 2188 Certified: 1551 Responsible Care Certificate 710 829 6
Slide 5: Our Journey
Our Journey FY 2007 FY 2010 FY 2015 FY 2017 FY 2020 Epigral Ltd (MFL) Commissioned 1st Increased capacity to Commissioned Commissioned incorporated Plant • Caustic Potash – • Chloromethanes – • Caustic Soda – 167 21 KTPA 50 KTPA • Caustic Soda – 119 KTPA KTPA • CPP – 60 MW Converted all Announced Ca
Slide 6: Q3FY24 - Key Highlights
Q3FY24 - Key Highlights Q3FY24 Operational Highlights: o YoY volume grew by 18%. Major growth came from Derivatives & Specialty segment and partially from Chlor- Alkali business o Capacity utilization stood at 81% in Q3FY24 vs 77% in Q2FY24 o On QoQ, realizations of all the products were down in the
Slide 7: 9MFY24 - Key Highlights
9MFY24 - Key Highlights 9MFY24 Strategic Highlights: o Capex / Expansions o Epigral announced to enter into CPVC Compound with a capacity of 35,000 TPA. This expansion is expected to get commission in Q4FY24 o Epigral commissioned 18.34 MW Wind Solar Hybrid Power Plant in Q1FY24 o Epigral inaugurate
Slide 8: CMD Message
CMD Message “We witnessed sales volume growth of 18% on YoY, this growth is coming from Epichlorohydrin and CPVC Resin. Increase in revenue from these new products and improvement in spreads led us to PAT growth of 29% QoQ, despite flattish revenue. Demand in the chemical industry has remained weak
Slide 9: Q3FY24 Financial Highlights
Q3FY24 Financial Highlights Revenue – YoY Growth: -12% EBIDTA – YoY Growth: -26% PAT – YoY Growth: -36% 538 31% 26% 14% 167 23% 123 10% 108 77 478 8% 472 49 38 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 ₹ Cr Margin -%
Slide 10: 9MFY24 Financial Highlights
9MFY24 Financial Highlights Revenue EBIDTA PAT 1,626 33% 1,405 17% 534 23% 277 326 8% 119 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 ₹ Cr Margin %
Slide 11: Key ratios as on 31st December 2023
Key ratios as on 31st December 2023 ROCE (%)* ROE (%)* Net Debt/EBITDA (x)* 46% 1.96 35% 1.29 18% 18% Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 *TTM EBIT, PAT and EBITDA are considered for above ratios **Capital employed in ROCE includes Capital Work in Progress
Slide 12: Revenue Transition towards Derivatives & Specialty Chemicals
Revenue Transition towards Derivatives & Specialty Chemicals 73% 69% 62% 62% 56% 58% 54% 46% 44% 42% 38% 38% 31% 27% Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 9MFY23 9MFY24 - Chlor-Alkali - Derivatives & Specialty Chemical
Slide 13: Project Update as on 31st December 2023
Project Update as on 31st December 2023 Capex Spends - ₹ Cr Expected % of project Product Capacity Commissioning completed Date 47 Chlorotoluene & - Q4FY24 85% its value chain 456 CPVC Resin 416 45 KTPA Q4FY24 90% (Additional) 323 CPVC 35 KTPA Q4FY24 60% Compound FY2022 FY2023 FY2024E Estimated cape
Slide 14: Focused on ESG
Focused on ESG ENVIRONMENT o Focused on using best technology to manage critical resources, to moderate the consumption of energy and natural resources and drive operations efficiently o Focus is to manufacture more from less, basis for environment responsibility o Entered in JV to set up 18.34 MW W
Slide 15: Income Statement
Income Statement Particulars (₹ Cr) Q3FY24 Q3FY23 YoY % Change Q2FY24 QoQ % Change Total Revenue 474 538 -12% 479 -1% Gross Profit 194 231 -16% 176 10% Gross Margin (%) 41% 43% 37% EBITDA 123 167 -26% 108 14% EBITDA Margin (%) 26% 31% 23% Depreciation 31 31 0% 32 -2% Finance Cost 20 21 -4% 21 -5% PB
Slide 16: Historic Income Statement
Historic Income Statement Particulars (₹ Cr) FY19 FY20 FY21 FY22 FY23 Total Revenue 720 613 831 1,555 2,196 Gross Profit 431 300 407 716 951 Gross Margin (%) 61% 49% 49% 46% 43% EBITDA 312 194 261 509 689 EBITDA Margin (%) 44% 32% 32% 33% 31% Depreciation 54 44 74 86 109 Finance Cost 25 11 29 44 66
Slide 17: Historic Balance Sheet
Historic Balance Sheet Assets (₹ Cr) FY22 FY23 H1FY24 Liabilities (₹ Cr) FY22 FY23 H1FY24 Fixed Assets 1,657 1,962 2,156 Share Capital 42 42 42 Financial Assets 8 28 28 Reserves & Surplus 684 1,028 1,087 Other Non-current Assets 11 23 26 Long-Term Borrowings 557 435 432 Inventories 154 212 197 Redee
Slide 18: About Epigral and contact details
Epigral Ltd (formerly known as Meghmani Finechem Ltd), incorporated For further information in 2007, is a leading integrated manufacturer of chemicals in India. The company has state of the art manufacturing facilities in Gujarat, Dahej – Please log on to website - www.epigral.com a leading PCPIR re