Pyramid Technoplast Ltd. · NSE:PYRAMID
Pyramid Technoplast — Q3 FY24 Earnings Presentation
40 slides from Pyramid Technoplast's earnings presentation, Feb 9, 2024
Slide 1: Exchange intimation letter for investor presentation
SEC: 37/2023-24 Date: February 9, 2024 National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot No. C/1, G Block, Rotunda Bldg., P. J. Towers, Bandra- Kurla Complex, Dalal Street, Fort, Bandra (East), Mumbai – 400 051 Mumbai 400 001 Symbol: PYRAM
Slide 2: Q3FY24 Investor Presentation
PYRAMID TECHNOPLAST LIMITED Q3FY24 Investor Presentation February, 2024
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Pyramid Technoplast Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any s
Slide 4: Index
Index Business Overview & Strategic Update 04 Financial Overview 16 Annexure 24 Industry Overview 35 3
Slide 5: Pyramid Technoplast: An Overview
Pyramid Technoplast: An Overview Founded in 1997, Pyramid is a prominent industrial packaging company known for our polymer-based molded products. Specialize in rigid Intermediate Bulk Containers (IBCs), Polymer Drums and Mild Steel Drums used by the chemical, agrochemical, specialty chemical, and p
Slide 6: Pyramid Technoplast: in Numbers
Pyramid Technoplast: in Numbers 7 Pan-India 500 + Fleet of 59 Team size Manufacturing Presence satisfied customer Trucks 500+ Units Production Capacity CAGR FY21-FY23 FY23 FY23 IBC - 420,000 Units Revenue – 24% ROE – 29.6% Revenue - ₹ 480 Cr Polymer Drum - 22,818 MTPA EBITDA - 26% ROCE – 28.8% EBITD
Slide 7: Our Key Strengths
Our Key Strengths… Comprehensive Product portfolio Diverse Offering complete bulk industrial packaging solutions Customer Base Quality standard Strategic locations of certification and quality Manufacturing units tests 6
Slide 8: Key Highlights
Key Highlights Sharp and continuous fall in raw material prices from Rs112/kg at the start of the year (April’23) to Rs108/kg(Sep’23) and now to Rs99/kg in Feb’24 has impacted margins. Costs reduction is lagging Selling Price. Situation will reverse once raw material prices stabilize or move up. Uni
Slide 9: Q3FY24 Performance - Financial Highlights
Q3FY24 Performance - Financial Highlights All amounts in Rs. Cr Revenue from Operations EBITDA and Margins (%) PAT and Margins (%) 13 12 132 128 11 8 8 121 6 9.8% 9.6% 8.2% 6% 6% 5% Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Revenue from Operations EBITDA and Margins (%) PAT and
Slide 10: Product Wise Revenue Breakup
Product Wise Revenue Breakup 8% 3% 5% 10% 7% 5% 8% 8% 12% 9% 9% 9% 11% 9% 8% 9% 27% 26% 30% 32% 35% 33% 35% 32% 66% 57% 53% 48% 48% 49% 52% 47% Q3FY23 Q2FY24 Q3FY24 FY20 FY21 FY22 FY23 9MFY24 Polymer Drums IBC MS Drums Others* *Others includes trading, sale of raw material, scrap and accessories con
Slide 11: Operational Performance
Operational Performance Value Volume Particulars UoM FY21 FY22 FY23 9MFY24 UoM FY21 FY22 FY23 9MFY24 Turnover Regular Business: Polymer Drums Rs. Cr 179 214 248 188 MTPA 15,930 16,636 16,811 13,899 MS Drums Rs. Cr 27 45 42 34 MTPA 1,717 2,359 4,726 3,880 Sub Total Rs. Cr 206 259 290 222 MTPA 17,647
Slide 12: Q3FY24 Revenue Bridge: Polymer Price Lag
Q3FY24 Revenue Bridge: Polymer Price Lag Rs Cr 11
Slide 13: 9MFY24 Revenue Bridge: Polymer Price Lag
9MFY24 Revenue Bridge: Polymer Price Lag Rs Cr 12
Slide 14: Project Update
Project Update 2023 2024 2025 2026 Unit 7 Unit 8 Maharashtra Unit Adding 3 IBC lines. Land has been merged Land acquired; Phase 1 Start of Phase 1 of Line 1 with Unit 7. All IBC construction to start Maharashtra unit. commissioned in and HDPE drum soon. Expansion of Unit September'23 expansion to co
Slide 15: Capex Trend and Outlook
Capex Trend and Outlook Capex* (Rs. Cr) Strategic Priorities 01 Organic Growth 45-55 Capex budget of Rs. 40-50 Cr for FY24-FY26 for new unit at Maharashtra + expansion of Unit 6 & Unit 7. Asset turnover expected of 5x. 02 Balance Sheet Strength 18 To fund capex from internal accruals and cash balanc
Slide 16: Investment Thesis
Investment Thesis Strong Macro Tailwind: for specialty chemical companies with China+1 strategy India’s Specialty Chemical Market (USD b) 61 Focusing on value-added products: such as IBC by expanding existing facilities; Pyramid has a 40% market share in India 36 De-risked, sustainable growth with r
Slide 17: Financial Overview
FINANCIAL OVERVIEW 16
Slide 18: Q3FY24 Performance - Results
Q3FY24 Performance - Results In ₹ Cr Particulars Q3FY24 Q2FY24 QoQ Q3FY23 YoY Net Sales 128.3 131.9 -3% 120.7 6% Other Income 1.4 1.5 -7% 0.1 1950% Total Income 129.7 133.4 -3% 120.7 7% Raw Material costs 97.1 99.0 -2% 90.8 7% Employee Cost 5.8 5.7 2% 4.7 24% Other Expenses 16.2 15.9 2% 13.4 21% Tot
Slide 19: Profit & Loss Statement
Profit & Loss Statement In ₹ Cr Particulars FY20 FY21 FY22 FY23 9MFY24 Net Sales 259.3 313.5 400.4 480.0 398.8 Other Income 0.9 2.7 2.2 2.0 3.8 Total Income 260.1 316.2 402.6 482.0 402.6 Raw Material costs 190.9 229.8 298.7 362.9 305.3 Employee Cost 11.8 14.8 15.7 17.6 16.0 Other Expenses 38.9 39.1
Slide 20: Balance Sheet
Balance Sheet In ₹ Cr Equities & Liabilities FY20 FY21 FY22 FY23 H1FY24 Assets FY20 FY21 FY22 FY23 H1FY24 Equity 3.91 3.91 3.91 31.28 36.8 Non-Current Assets Reserves 28.03 44.94 71.29 75.97 171.3 Fixed Assets 48.81 51.43 51.81 69.19 87.93 Net Worth 31.94 48.85 75.20 107.25 208.11 Non-Current Invest
Slide 21: Cashflow Highlights
Cashflow Highlights In ₹ Cr Particular FY20 FY21 FY22 FY23 H1FY24 Cashflow from Operations 12.42 8.39 -6.04 38.95 15.75 Cashflow from Investments -6.88 -6.73 -4.28 -23.92 -27.56 Cashflow from Financing -5.85 0.50 9.23 -12.74 33.68 Net Cash Flow -0.31 2.16 -1.09 2.30 21.87 Opening Cash Balance 2.73 2
Slide 22: Key Ratios
Key Ratios ROE (In %) ROCE (In %) 34.79% 34.77% 29.61% 27.85% 28.49% 28.83% 17.38% 18.84% FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Net Debt to Equity (In Times) Interest Coverage (In Times) 11.57 1.45 1.05 8.25 0.86 0.51 5.38 2.12 FY20 FY21 FY22 FY23 9MFY24 -0.20 FY20 FY21 FY22 FY23 21
Slide 23: Key Ratios
Key Ratios Current Ratio (In Times) Fixed Asset Turnover Ratio (In Times) 1.61 7.73 1.41 6.94 1.26 6.10 1.07 5.31 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Earnings Per Share (In ₹) Book Value (In ₹) 10.24 34.28 8.43 24.04 5.41 15.61 10.21 1.73 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 22
Slide 24: Key Ratios
Key Ratios Working Capital Cycle (In days) (In ₹ Cr) Operating Cash Flow 75 68 69 68 39 66 59 50 46 46 39 34 27 12 8 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Creditors Day Inventory Days Debtors Day -6 23
Slide 25: Annexure
ANNEXURE 24
Slide 26: Pyramid Technoplast: Our Journey
Pyramid Technoplast: Our Journey 1997 1998 2003 Incorporation of Commenced production of Acquired majority shareholding Company Polymer Drums at Silvassa. in Company by Promoters and Promoter Group. 2016 2014 2013 2011 Commence production of IBC at Bharuch Achieved Turnover of Expansion of Expansion
Slide 27: Board Of Directors
Board Of Directors B.com Graduate from Mumbai University and Masters from ICFAI Experience in packaging industry University, Dehradun. over 3 decades. Mr. Bijaykumar Agarwal Mr. Jaiprakash Agarwal More than 19 years of experience Looks after Finance, Raw material Managing Director & Chairman Whole T
Slide 28: Our Product Portfolio
Delivering Packaging Excellence: Our Product Portfolio FY23 Revenue Breakup 8% IBC Containers 9% 52% 32% Polymer Drums MS Drums Polymer Drums IBC MS Drums Others 27
Slide 29: IBC Containers: Streamlining Logistics and Enhancing Efficiency
IBC Containers: Streamlining Logistics and Enhancing Efficiency • Pyramid Technoplast is a leading manufacturer of rigid Intermediate Bulk Containers (IBCs), specializing in the production of 1000- liter capacity IBCs. • With a strong focus on organization, mobility, and integration capabilities, ou
Slide 30: Plastic Barrels: Versatile Solutions For Industrial Packaging
Plastic Barrels: Versatile Solutions For Industrial Packaging • Pyramid Technoplast is engaged in the manufacturing of all types of plastic barrels, containers, and HDPE drums that are widely used for industrial and commercial applications. Their plastic drums and containers are supplied to chemical
Slide 31: MS Drums: Meeting Diverse Packaging Needs
MS Drums: Meeting Diverse Packaging Needs • Pyramid Technoplast serves as a one-stop shop for all your packaging needs, offering a wide range of drum options such as General- Purpose Metal drums, Epoxy Coated/Lacquered drums, Composite drums, Galvanized drums, and Open top drums. • The Company's IBC
Slide 32: State Of The Art Manufacturing Facilities
State Of The Art Manufacturing Facilities: Powering Innovation & Production Excellence Unit 1 Unit 2 Unit 3 Located in Silvassa. Located in Silvassa. Located in Vilayat Vagra GIDC Bharuch. Installed capacity 5,180 MTPA. Installed capacity 3,282 MTPA. Installed capacity 6,694. MTPA. Area 4,018 Sq. M.
Slide 33: Precision, Quality, Innovation: Advanced Technologies
Precision, Quality, Innovation: Empowering Manufacturing Excellence with Advanced Technologies Fully automated machines with advanced blow molding technologies are utilized in the manufacturing process. National and international standard molds and dyes are used to ensure high-quality production. Ai
Slide 34: Certifications: Recognitions Of Quality & Global Compliance
Certifications: Recognitions Of Quality & Global Compliance Quality Certification Approved International TUV International TUV Certification Pyramid Technoplast IBC – Pyramid Technoplast IBC – and certified by IIP Govt of India Certification of IBC From of IBC From TUV Singapore Collection Service i
Slide 35: Utilization of Net Issue Proceeds
Utilization of Net Issue Proceeds Utilization of Net Issue Proceeds (Rs. Cr) 5 Repayment/ Prepayment of Certain Outstanding Borrowing 47 % Funding Working Capital Requirements 47 % 40 General Corporate Purpose 6% 40 Unutilized as on Dec'23 - 34
Slide 36: Industry Overview
INDUSTRY OVERVIEW 35
Slide 37: Growing Demand for IBCs in India
Growing Demand for IBCs in India India's Intermediate Bulk Container (IBC) market revenue is expected to grow at a CAGR of 10.56% from ₹ 4,001,261.80 lakhs in FY22 to ₹ 8,931,901.94 India Intermediate Bulk Container Market Volume lakhs in FY30 Estimates And Forecasts, By End Use, 2019-2030 (Mn Units
Slide 38: The Rise of Polymer Drums in Industrial Applications
The Rise of Polymer Drums in Industrial Applications India's polymer drums market revenue is expected to grow at a CAGR of HDPE: India Demand Supply In Kt 9.87% from ₹ 127,584.77 lakhs in FY22 to ₹ 270,937.39 lakhs in FY30. 2,775 2,665 2,665 2,605 2,551 2,538 2,473 2,448 2,440 o High-density polyeth
Slide 39: Industrial Demand Drives Mild Steel Drum Sales
Industrial Demand Drives Mild Steel Drum Sales India’s MS-Drums market revenue is expected to grow at a CAGR of INDIA EXPORTS (2021 – 22) 9.14% from ₹ 280714.74 lakhs in FY22 to ₹ 517794.61 lakhs in FY30 US 29.00% UK Russia South Africa o MS drums serve as a versatile packaging option, providing saf
Slide 40: Thank You
Pyramid Technoplast Limited Office No. 2, Second Floor, Shah Trade Center, Rani Sati Marg, Near W.E. Highway, Malad (East), Mumbai - 400 097, Maharashtra, India. Phone: +91 22 42761500 Email: info@pyramidtechnoplast.com Website: www.pyramidtechnoplast.com Investor Relations Go India Advisors Name: M