Rhi Magnesita India Limited · NSE:RHIM
Rhi Magnesita India — FY2024 Earnings Presentation
15 slides from Rhi Magnesita India's earnings presentation, May 29, 2024
Slide 1: Presentation of Earning Conference Call - 4Q FY2023-24
Sensitivity: Internal RH! MAGNESITA RHI MAGNESITA INDIA LTD. (Formerly Orient Refractories Ltd.) 301, 316-19, Tower B, EMAAR Digital Greens Golf Course Extension Road, Sector 61, Gurugram, Haryana-122011, INDIA T +91 124 4062930 E corporate.india@rhimagnesita.com 29 May 2024 www.rhimagnesitaindia.co
Slide 2: Investor Presentation, RHI Magnesita India Limited, May 2024
Investor Presentation RHI Magnesita India Limited May 2024
Slide 3: Safety is our core value
Safety is our core value LTIF (Lost Time Injury Frequency) TRIF (Total Recordable Injury Frequency) Actual : 0.06 Actual : 0.06 Strengthening our practices Awards & Accolades – 2023-24 • First refractory vendor in TATA Steel unit with 5 To review incident and accident Star rating reporting standards
Slide 4: Yearly Highlights
Yearly Highlights Strategic initiatives enable growth and resilient profitability post integration Revenue supported by significant volume increase 495 Successful integration of acquisitions to fully capture 329 synergies and growth opportunities 214 378,110 272,627 Impressive margin expansion in ac
Slide 5: Financial Highlights
Financial Highlights Attractive growth and resilient returns Revenue Adj. EBITDA Adj. EBITDA margin Operating cash flow ₹3,78,110 L ₹57,825 L 15.3% ₹27,060 L 39% 32% 0.8% 14% Working Capital Intensity Capex Adj. Earnings per share Dividend Per Share (Proposed) 37% ₹8,004 L ₹11.8 ₹2.5 3% 89% 19% 4 PU
Slide 6: Profit and Loss Summary
Profit and Loss Summary Q4 Adjusted EBITDA margins increased from 13.4% to 17.2% YoY ₹ Lakhs FY24 FY23 Change Q4 FY24 Q3 FY24 Change Q4 FY23 Change Revenue from Operations 378,110 272,627 39% 94,329 92,294 2% 87,478 8% EBITDA 55,691 37,475 49% 15,249 11,817 29% 5,350 185% EBITDA (%) 14.7% 13.7% 98 b
Slide 7: Financial Highlights on Consolidated Levels
Financial Highlights on Consolidated Levels Capacity (kt) 537 Revenue (₹ Lakhs) 378,110 EBITDA Margin (%) 525 Expanded 272,627 product M&A portfolio 19.7% addition 199,514 16.1% 13.7% 14.7% 145 122 137,038 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 EPS (per share)* Net Debt/EBITDA 3
Slide 8: 2024 Revenue Bridge
2024 Revenue Bridge Volume driven revenue growth despite global pricing dynamics €222m €303m €43m -€5m €80m €421m ₹ Lakhs 378,110 71,779 4,801 272,627 38,506 199,514 2022 2023 Volume Price and Mix M&A 2024 *M&A includes RHIM IR and RHIM Seven RHI Magnesita India 7 PUBLIC
Slide 9: 2024 EBITDA Bridge
2024 EBITDA Bridge Increased EBITDA driven by higher volumes with additional contribution from M&A €44m €42m €7m €49m €7m -€5m €8m -€7m €1m €12m €64m -€2m €62m ₹ Lakhs 10,393 57,825 55,691 7,239 ‐2,134 5,880 1,230 6,402 43,877 ‐4,801 ‐5,992 39,349 37,475 19.7% 13.7% 16.1% 15.3% 14.7% 2022 2023 One t
Slide 10: Net Debt Bridge
Net Debt Bridge QIP, preferential issue and internal accruals reduced net debt position €130m -€62m €27m €9m €7m €26m -€120m €9m €6m €5m -€2m €35m ₹ Lakhs, Net Debt / EBITDA 3.1x 23,668 117,024 6,185 8,532 24,003 ‐55,691 0.6x 4,619 31,255 5,163 8,004 ‐2,220 ‐108,030 FY23 EBITDA Working Capital Tax I
Slide 11: Working Capital
Working Capital Tight control of inventory; increase in intensity due to reduction in payables Inventories (₹Lakhs) Inventory intensity Working capital (₹Lakhs) Cash conversion intensity 28% 27% 29% 28% 24% 99,557 113,535 103,513 95,620 90,532 36% 37% €106m €111m €126m €115m €101m Mar‐23 Jun‐23 Sep‐
Slide 12: Penetrating Underrepresented Categories
Penetrating Underrepresented Categories Room for adjacent growth despite high market share DRI Production: 42 MTPA Hot Metal Production: 85 MTPA Expected growth: +40 MTPA Expected growth: +40 MTPA Pellet Production: 80 MTPA * Based on internal market research Expected growth: +80 MTPA Medium term gr
Slide 13: Summary and Investment Case
Summary and Investment Case Market leadership position with 30% market share in India Local for local manufacturing strategy supporting Make in India policies Recent acquisitions create balanced portfolio of refractory products and a strong platform for growth in India and in under-represented
Slide 14: Disclaimer
Disclaimer Financial information contained herein, as well as other operational information, were not audited by independent auditors and may include forward-looking statements and reflects the current views and perspectives of the management on the evolution of macro-economic environment, condition
Slide 15: Empowering our communities
Empowering our communities Education Rejuvenation and maintenance of Five Government Schools to improve the infrastructure and provide a pleasant learning environment to children Health Care Essential medical equipment and infrastructure to VRD Trust Hospital, Chikitsa, and South East Asia Institute