Shree Pushkar Chemicals & Fertilisers Ltd. · NSE:SHREEPUSHK
Shree Pushkar Chemicals & Fertilisers — Q4 FY2017 Earnings Presentation
30 slides from Shree Pushkar Chemicals & Fertilisers's earnings presentation, May 2017
Slide 1: Shree Pushkar Chemicals & Fertilisers Ltd. Investor Presentation
Shree Pushkar Chemicals & Fertilisers Ltd. Investor Presentation May 2017 1
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shree Pushkar Chemicals & Fertilisers Limited Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purch
Slide 3: A Winning Formula…
A Winning Formula… India’s largest manufacturer of K Acid Products spread across 5 segments Single location plant at Lote Parshuram Marketing through +300 dealers Moved up the Value Chain to manufacture Dyes Exports to world’s leading dye Undertaken Backward & Forward manufacturers Integration We ha
Slide 4: Evolution of Our Business
Evolution of Our Business 1993 – 2004- 2011 – 2017 & Beyond 2003 2010 2016 • Commenced • In 2011, began use of Spent We wish to position ourselves as • Recycling of effluents from trading/imports of chemical acid for manufacturing of SSP a ‘Complete Textile Solutions Dye Intermediates Division produ
Slide 5: Our Product Portfolio
Our Product Portfolio Our Products Gamma Acid, K- Acid, R- Single Super Phosphate (SSP) Reactive Black, Soil Conditioner,Nitrogen Sulphuric Acid, Oleum Di- Calcium Phosphate Salt, Vinyl Sulphone, Reactive Red, Phosphorus Potassium (NPK), and Chloro Sulphonic (DCP) Meta Ureido Aniline and Reactive Ye
Slide 6: A Snapshot of Our Infrastructure
A Snapshot of Our Infrastructure Dyestuff & Dye Intermediates Fertilizers Product Capacity in MTA Reactive Others 3,000 Dyes Product Capacity in MTA 2,400 SSP 1,00,000 H-Acid +750 SOP 10,000 Product Capacity in Vinyl 2,700 NPK 20,000 MTA Sulphone +1,000 Soil Conditioner Acids 40,000 12,000 K-Acid 96
Slide 7: A One Stop Solution
A One Stop Solution All our Plants are at a single location, Lote Parshuram, Maharashtra… Unit 1 – Dye Intermediates Unit 2– Granulation Plant New Reactive Dyes Plant Unit 3 Sulphuric Acid Plant New Quality Testing Lab for Dyes … leading to operational and logistics efficiencies. 7
Slide 8: Persistent Focus on the High Margin Dyestuff Segment
Persistent Focus on the High Margin Dyestuff Segment 64.4 81.1 76.5 93.1 As a proportion of our Revenues 4.1% 9.1% 17.5% 18.7% Dyes Dye Intermediates Fertiliser 73.5% 68.2% Others 58.0% 56.3% Revenue (Rs. In Crs.) On route to becoming a preferred 16.1% 16.5% 19.5% 21.3% dyestuff supplier... 6.1% 6.2
Slide 9: Our Foray into Dyestuff
Our Foray into Dyestuff What are Reactive Dyes? Captive Consumption of Raw Our Manufacturing Capacity Material • A class of highly coloured organic • Located at our Integrated Complex • Additional Vinyl Sulphone Capacity substances in Lote Parshuram of 1000 MTA commissioned in May 16 • Primarily use
Slide 10: An Overview of our Dye Intermediates Business
An Overview of our Dye Intermediates Business Revenue in Rs Crores Product offerings for Dyestuff +11% Manufacturers 201 196 165 170 Gamma Acid 128 Meta Ureido Aniline H- Acid FY13 FY14 FY15 FY16 FY17 Vinyl Sulphone K- Acid One of the few manufactures of wide range of dye intermediates in India wi
Slide 11: Our Fertilisers Division
Our Fertilisers Division Nitrogen Granular Single Sulphate of Soil Phosphorus Calcium Superphosphate Potash (SOP) Conditioner Potassium Chloride (SSP) (NPK) • The main raw materials • NPK fertilizer is • Soil conditioner is a • SOP is a preferred • To utilize HCL for SSP are rock primarily composed
Slide 12: Our Marketing Partnerships
Our Marketing Partnerships NPK Fertiliser NPK is sold under Marketing tie-up with DCM Shriram Launched under the brand ‘Shriram Urja Mix’ in the state of Maharashtra SSP Fertilizer Exclusive marketing arrangement with DCM Shriram Chemical & Fertilizers for Single Super Phosphate in Maharashtra and K
Slide 13: Zero Waste Methodology – Creating Value
Zero Waste Methodology – Creating Value Gamma Acid B –Napthol K - Acid Meta Ureido Aniline R Salt Vinyl Sulphone Effluents Di Calcium Phosphate Sulpho VS H - Acid Effluents Effluents Chloro Sulphonic Acid Soil Conditioner Final Products SSP 13
Slide 14: Our Strengths
Our Strengths Fast Paced Growth in our Dyestuff Zero Waste Chemical Company Segment We do not incur large costs on effluent Substantial increment in the contribution from treatment due to our zero waste model Dyestuff Segment to our Revenue on a quarter on quarter basis Low Financial Leverage Cost E
Slide 15: Growth Drivers for the Future
Growth Drivers for the Future Environmentally Conscious • A clean track record with no regulatory issues till date • Continue to recycle our effluents Plans For Expansion in our integrated model and minimize discharge • Reactive Dyes Capacity to be Working towards our Brand expanded to 6000 MTA We a
Slide 16: Latest Happenings of the Industry
Latest Happenings of the Industry The Dye & Dye Intermediates Industry largely caters to the Textile Industry and is concentrated in China, India and other smaller Asian Countries. The dominance by these countries is further driven by the fact that the global textile industry is also concentrated he
Slide 17: Client Profile
Client Profile Domestic Clients International Clients 17
Slide 18: Key Management
Key Management Punit Makharia Chairman & Managing Director A first generation entrepreneur, he holds a Bachelors in Commerce with a rich business experience of over 2 decades in dealing with chemical and dyes intermediates Gautam Makharia Dilip Shah R Purohit S N Sengupta Ratan Jha Associate Directo
Slide 19: Financials
Financials 19
Slide 20: Q4FY17 Highlights
Q4FY17 Highlights Consistently Improving Total Revenue Performance 17.4% Rs 93.08 Crs • Increasing contribution to revenue from Dyestuff • Maintaining consistent volume growth in Dye Intermediates EBIDTA 51.1% Rs 14.77 Crs Better Operating Leverage (Margin 15.9%) • Improved Product Mix PAT Deliverin
Slide 21: Strong Financial Performance Year on Year
Strong Financial Performance Year on Year CAGR from FY13 to FY17 EBITDA PAT Total Revenue +24% +43% +16% CAGR CAGR CAGR Improved Product Mix Margins up Margins up with a focus on from 13% to 17% from 4% to 10% Dye Stuff Backed by a strong Balance Sheet 21
Slide 22: FY17 Segmental Highlights
FY17 Segmental Highlights • Steady increase in contribution from Dyestuff segment to our revenues Revenue Break up FY17 • Acid Complex Division had higher captive utilization 12.95% Dye Intermediates Acid Complex 21% Volume growth 7% Volume growth 18.56% 63.33% 15% Revenue growth 37% Revenue de- 1.8
Slide 23: Segmental Performance (Revenue)
Segmental Performance (Revenue) (Rs in Cr) +11% +13% 201.2 196.4 57.6 165.4 171.4 48.2 48.7 128.1 35.1 31.0 FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17 Dye Intermediates Fertilisers +7% +3% 16.3 6.1 6.0 5.8 5.2 5.3 10.3 10.2 7.7 7.7 FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17 Acid Comple
Slide 24: Key Financial Parameters
Key Financial Parameters (Rs in Cr) Margin % 13.2% 14.0% 11.9% 13.9% 17.3% +16% 315 +24% 54.4 267 251 210 31.8 34.9 177 29.4 23.3 FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17 Total Revenue from operations EBIDTA 10.9% 11.8% 10.6% 12.4% 15.5% 4.1% 4.9% 7.0% 8.9% 9.7% +26% 49.0 +43% 30.5 22.3 31.
Slide 25: Key Financial Parameters
Key Financial Parameters (Rs in Cr) Net Debt ROE % 21.1% 16.3% 15.7% 13.7% 13.7% 74 58 22 -8 -24 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-13 Mar-14 Mar-15 Mar-16* Mar-17 Net Debt to Equity ROCE % 24.9% 23.5% 19.6% 17.2% 1.4 14.8% 0.9 0.2 -0.1 0.0 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-13 Mar-14 Mar-15
Slide 26: Financial Highlights
Financial Highlights Particulars (Rs. In Crs) Q4FY17 Q4FY16 Y-o-Y Q3FY17 Q-o-Q FY17 FY16 Y-o-Y Net Sales 92.66 77.72 75.65 313.02 247.74 Other Income 0.42 1.56 0.83 2.11 3.49 Total Revenue from Operations 93.08 79.28 17.4% 76.48 21.7% 315.14 251.24 25.4% Cost of Material Consumed 66.04 56.42 50.38 2
Slide 27: Historical Profit & Loss
Historical Profit & Loss Particulars (Rs. In Crs) FY17 FY16 FY15 FY14 FY13 Total Revenue 313.02 248.70 266.52 210.09 175.98 Other Income 2.11 2.54 0.29 0.28 0.59 Total Revenue from Operations 315.14 251.24 266.81 210.37 176.57 Raw Material 212.22 175.29 195.46 150.58 129.88 Employee Expenses 12.88 1
Slide 28: Balance Sheet
Balance Sheet Liabilities (Rs in Crs) Mar-2017 Mar-2016 Assets (Rs in Crs) Mar-2017 Mar-2016 Shareholders Fund 193.63 163.13 Total Non Current Assets 137.20 105.93 Share Capital 30.22 30.22 Fixed Assets (including Capital Work-in 123.13 95.07 progress) Reserves & Surplus 163.41 132.91 Non Current In
Slide 29: Utilization of IPO Proceeds
Utilization of IPO Proceeds Objects of the Total Amount Pending Particulars (Rs Crs) issue as per Spent/Utilisation Utilisation prospectus upto March 31st 2017 Acquisition of Existing Factory at B-97, Lote 2.29 2.29 - Parshuram Construction of Godown at unit II 2.38 2.38 - Amount Spent for setting u
Slide 30: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Shree Pushkar Chemicals & Fertilisers Ltd Strategic Growth Advisors Pvt. Ltd. CIN: U24100MH1993PLC071376 CIN: U74140MH2010PTC204285 Mr. S N Sengupta, Associate Director Mr. Rahul Agarwal / Ms. Samantha Francis sengupta@s
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