Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q4 FY2018 Earnings Presentation
30 slides from Dcm Shriram's earnings presentation, Apr 24, 2018
Slide 1: DCM Shriram Ltd. Q4 & FY18 Results Presentation
DCM Shriram Ltd. Q4 & FY18 - Results Presentation April 24, 2018 1
Slide 2: Safe Harbour
Safe Harbour Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actua
Slide 3: Table of Content
Table of Content Title Slide No. Q4 FY18 Key Highlights 4 Q4 FY18 Financial Snapshot 5 Q4 FY18 Segment Performance 6 FY18 Financial Snapshot 7 FY18 Segment Performance 8 Q4 FY18 Performance Overview & Outlook 9-11 Projects under Implementation 12 Management’s Message 13 Chloro-Vinyl Businesses 15-19
Slide 4: Q4 FY'18 – Key Highlights
Q4 FY’18 – Key Highlights 1. Net Revenues at Rs 1,566 crore vs Rs 1,616 crore for same period last year: a. Chemicals – Revenue up by 89% with volumes gain of 18% led by full utilization of capacity from the expansion at Bharuch and increase in net realizations by 67%. b. Sugar – Revenue lower by 28
Slide 5: Q4 FY18 – Financial Snapshot
Q4 FY18 – Financial Snapshot Revenue (Net) PBDIT Depreciation 1,616 1,566 236 37 32 95 Q4 FY17 Q4 FY18 Q4 FY17 Q4 FY18 Q4 FY17 Q4 FY18 Finance Cost PBIT PAT 22 20 204 156 59 51 Q4 FY17 Q4 FY18 Q4 FY17 Q4 FY18 Q4 FY17 Q4 FY18 Note: All figures in Rs. Crores Net revenue includes operating income DCM S
Slide 6: Q4 FY18 - Segment Performance
Q4 FY18 - Segment Performance Rs. crore Revenues PBIT PBIT Margins % YoY % YoY % Segments Q4 FY 17 Q4 FY 18 Q4 FY 17 Q4 FY 18 Q4 FY 17 Q4 FY 18 Change Change Chloro Vinyl 402.3 591.2 47.0 114.7 254.0 121.5 28.5 43.0 Sugar 527.0 379.8 (27.9) 133.4 (136.6) - 25.3 (36.0) - Sugar 468.5 325.1 (30.6) 93.7
Slide 7: FY18 – Financial Snapshot
FY18 – Financial Snapshot Revenue (Net) PBDIT Depreciation 1091 6,900 5,788 818 141 114 FY17 FY18 FY17 FY18 FY17 FY18 Finance Cost PBIT PAT 950 670 704 552 83 71 FY17 FY18 FY17 FY18 FY17 FY18 Note: All figures in Rs. Crores Net revenue includes operating income DCM Shriram Ltd. – Q4 & FY18 Results P
Slide 8: FY18 - Segment Performance
FY18 - Segment Performance Rs. crore Revenues PBIT PBIT Margins % YoY % YoY % Segments FY'17 FY'18 FY'17 FY'18 FY'17 FY'18 Change Change Chloro Vinyl 1,392.8 2,098.8 50.7 398.7 817.5 105.1 28.6 39.0 Sugar 1,517.9 1,953.9 28.7 315.4 94.3 (70.1) 20.8 4.8 - Sugar 1,430.2 1,828.7 27.9 253.5 0.1 (100.0)
Slide 9: Q4 FY18 - Performance Overview & Outlook
Q4 FY18 - Performance Overview & Outlook Net revenue higher by 47%, Earnings up 122%. Chlor-Alkali prices increased by 67% YoY and 12% QoQ. Outlook Projects under implementation Chloro-Vinyl o Expansion at Kota and Bharuch, are progressing as per plan. o 332 TPD capacity at Bharuch to come on
Slide 10: Q4 FY18 - Performance Overview & Outlook
Q4 FY18 - Performance Overview & Outlook Overall revenues lower during Q4 FY 18 by 40% due to lower revenues of Bulk fertilizers, a part of planned directive. Turnover of value added products almost same as last year. Shriram Farm Solutions Outlook Planning to reduce the volume of Bulk fertili
Slide 11: Q4 FY18 - Performance Overview & Outlook
Q4 FY18 - Performance Overview & Outlook Revenues up 5% primarily due to higher prices (ie reflection of higher energy cost). Subsidy outstanding as on 31st March, 2018 stood at Rs 383 crore vs Rs 347 crore as on 31st March 2017. Fertilisers Outlook (Urea) Government has decided to continue th
Slide 12: Projects Under Implementation
Projects Under Implementation Projects Under Implementation Project Completion Business Project Capacity Timeline Expansion of Cane crushing capacity 5000 TCD Q3 FY19 Sugar Power Co-Gen 30 MW Q3 FY19 Caustic Soda Expansion 500 TPD - Kota 84 TPD Q3 FY19 Chemicals -Bharuch 332 TPD Q1 FY20 - Kota 84 TP
Slide 13: Management's Message
Management’s Message Commenting on the performance for the quarter and financial year, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: “We are happy to report a satisfactory performance for the quarter and
Slide 14: Segmental Overview
Segmental Overview • Chemicals • PVC Resins Chloro-Vinyl Businesses • Calcium carbide • Power • Agri- Inputs o Shriram Farm Solutions Agri o Bioseeds Businesses o Fertilisers • Sugar • Fenesta Building Systems Other Businesses • Cement • Polymer Compounds • Hariyali Kisaan Bazaar DCM Shriram Ltd. –
Slide 15: Chloro Vinyl Business
Chloro Vinyl Business Cap. Revenues PBIT Employed Particulars (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q4 FY18 591.2 254.0 1,058.8 Q4 FY17 402.3 114.7 1,047.7 % Shift 47.0 121.5 1.1 FY18 2,098.8 817.5 1,058.8 FY17 1,392.8 398.7 1,047.7 % Shift 50.7 105.1 1.1 The Chloro-Vinyl business of the Company has highly
Slide 16: Chemicals: Operational and Financial Performance
Chemicals Operational Financial Sales Realisations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) Q4 FY18 110,430 38,699 480.8 250.2 Q4 FY17 93,565 23,183 254.9 82.5 % Shift 18.0 66.9 88.6 203.4 FY18 426,518 31,885 1,541.1 723.7 FY17 331,360 23,810 885.4 288.9 % Shift 28.7 33.9 74.1 150
Slide 17: Chemicals Performance Overview and Outlook
Chemicals Q4 FY18 revenue increased by 89% YoY with volume growth of 18% (full capacity Performance utilization from expansion at Bharuch plant) and increase in net realizations by 67%. Overview Positive trend seen in Chlorine prices which has compensated partly the softness in caustic prices.
Slide 18: Plastics
Plastics Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBIT Particulars Realisations Realisations (MT) (MT) (Rs Cr.) (Rs. Cr.) (Rs./MT) (Rs./MT) Q4 FY18 12,602 72,637 3,311 46,819 110.3 3.8 Q4 FY17 15,556 74,026 6,077 43,934 147.4 32.2 % Shift (19.0) (1.9) (45.5) 6.6 (25
Slide 19: Plastics: PVC Prices, Overview and Outlook
Plastics 1060 Import and DCM PVC Prices 75000 1032 1040 74000 1020 1000 1000 73000 958 980 72000 Prices - $ Prices - Rs 930 72364 960 71000 940 71316 71958 913 920 70000 900 69000 880 69527 68000 860 68440 840 67000 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18
Slide 20: Sugar
Sugar YoY % YoY % Particulars Q4 FY 17 Q4 FY 18 FY'17 FY'18 Change Change Revenues (Rs. Cr.) Sugar 468.5 325.1 (30.6) 1,430.2 1,828.7 27.9 Power 58.4 54.7 (6.3) 87.7 125.2 42.7 Distillery - 0.1 - - 0.1 - Total 527.0 379.8 (27.9) 1,517.9 1,953.9 28.7 PBIT (Rs Cr.) Sugar 93.7 (181.5) - 253.5 0.1 (100.
Slide 21: Sugar: Production, Sales and Realizations
Sugar Sales (Volume) Sugar Sugar Cap. Particulars Production Sugar Power Distillery Realizations Employed (Lac Qtls) (Lac Qtls) (Crore Units) (KL) (Rs/ Qtl) (Rs Cr.) Q4 FY18 29.8 9.4 11.2 20.0 3174 1290 Q4 FY17 27.8 11.0 11.5 0.0 3658 1018 % Shift 7.3 (14.2) (2.7) - (13.3) 26.6 FY18 54.0 48.5 25.1 2
Slide 22: Sugar Segment
Sugar Segment Revenues down by 28% YoY in Q4 FY 18. Sugar sales volume declined by 14% in spite of production going up 7% due to sales restriction by central government. Realizations for sugar and molasses remained under pressure during the quarter. Performance Overview Sugar Closing stock stood
Slide 23: Agri-Input Businesses
Agri- Input Businesses The Agri input businesses contributed to 27% of the Company’s revenues during Q4 FY 18. The Company continues to focus on these businesses given the huge opportunity in this area where the Company can capitalize on its long understanding of varied Agri businesses and the rural
Slide 24: Shriram Farm Solutions
Shriram Farm Solutions Revenues (Rs. Cr.) PBIT (Rs. Cr.) Cap. Particulars Employed Bulk Value Added Total Bulk Value Added Total (Rs. Cr.) Q4 FY18 75.8 67.6 143.3 2.4 (1.3) 1.1 272.6 Q4 FY17 171.9 66.7 238.6 2.9 (1.3) 1.6 399.0 % Shift (55.9) 1.3 (39.9) (17.3) - (33.3) (31.7) FY18 342.9 545.2 888.1
Slide 25: Bioseed
Bioseed Revenues (Rs. Cr.) PBIT Cap. Employed Particulars India International Total (Rs. Cr.) (Rs. Cr.) Q4 FY18 34.7 15.2 49.9 (45.5) 389.0 Q4 FY17 55.8 14.4 70.2 (24.9) 359.2 % Shift (37.8) 5.9 (28.9) - 8.3 FY18 403.9 89.2 493.0 20.7 389.0 FY17 408.0 61.8 469.8 14.7 359.2 % Shift (1.0) 44.3 5.0 40.
Slide 26: Fertilisers (Urea)
Fertilisers (Urea) Operational Financial Sales Realisations Revenues PBIT Cap. Employed Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q4 FY18 102,039 21,014 222.8 18.3 453.5 Q4 FY17 100,713 19,732 211.6 18.7 394.4 % Shift 1.3 6.5 5.3 (2.3) 15.0 FY18 404,548 19,317 801.6 77.9 453.5 FY17 394
Slide 27: Other Businesses
Other Businesses The ‘Others’ Segment in the financial results, includes Cement, Fenesta Building Systems and Hariyali Kisaan Bazar. Revenues under ‘Others’ stood at Rs 196 crore in Q4 FY18 from Rs. 197 crore in Q4 FY 17. PBIT for the .quarter stood at Rs. 9.8 crore vis-à-vis Rs. 1.3 crore in Q4 FY
Slide 28: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book (Rs Crores) Revenues Particulars Retail Projects Total (Rs Cr.) Q4 FY18 78.6 35.1 113.6 86.6 Q4 FY17 63.8 40.1 103.9 67.6 % Shift 23.2 (12.5) 9.4 28.2 FY18 267.4 112.3 379.7 332.4 FY17 241.9 162.9 404.8 253.6 % Shift 10.6 (31.1) (6.2) 31.1 Fe
Slide 29: Cement
Cement Operational Financial Sales Realisations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) Q4 FY18 110,179 3,031 43.7 1.1 Q4 FY17 135,638 3,113 48.7 2.2 % Shift (18.8) (2.6) (10.3) (48.4) FY18 448,454 3,084 177.0 3.1 FY17 504,469 3,211 189.1 5.1 % Shift (11.1) (3.9) (6.4) (39.1) The
Slide 30: About Us & Investor Contacts
About Us & Investor Contacts DCM Shriram Ltd. is an integrated business entity, with extensive and growing presence across the entire Agri value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Bioseed and Fenesta. Access to captive