Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q1 FY22 Earnings Presentation
35 slides from Ifgl Refractories's earnings presentation, Aug 18, 2021
Slide 1: Exchange disclosure cover letter
� � 0 �FRACTORIES LIMITED Head & Corporate Office 3, Neta ji Subhas Road, Kolkata - 700 001, India Phone: +91 33 40106100, Fax: +91 33 22430886 E-mail : ifgl.ho@ifgl.in, Websites : www.ifglref.com l 8 th Au boust , 2021 National Stock Exchange of India Ltd BSE Limited 'Exchange Plaza', C-1, Block- G
Slide 2: IFGL Refractories Limited Investor Presentation – Q1FY22
COMMITTED TO CLEAN METAL IFGL Refractories Limited Investor Presentation – Q1FY22 August 2021
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited, solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or b
Slide 4: 3
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Slide 5: Our Performance
Our Performance
Slide 6: Q1FY22 Performance Snapshot
Q1FY22 Performance Snapshot Strong Standalone & Consolidated Performance Standalone Rs. 163.2 Crores Consolidated Rs. 277.8 Crores Total Income Up 26% YoY Total Income Up 35% YoY Standalone Rs. 27.7 Crores Consolidated Rs. 35.7 Crores EBITDA Up 6% YoY EBITDA Up 35% YoY Standalone Rs. 13.4 Crores Con
Slide 7: Q1FY22 Standalone Financial Highlights
Q1FY22 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +26% +6% -320 bps 163.2 27.7 20.2% 26.2 17.0% 129.9 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Profit After Tax [Rs. Crs.] PAT margin [%] -100 bps +12% 9.2% 13.4 8.2% 11.9 Q1FY21 Q1FY22 Q1FY21 Q1FY22 6
Slide 8: Q1FY22 Standalone Profit & Loss
Q1FY22 Standalone Profit & Loss Profit & Loss [Rs. Crs.] Q1FY22 Q1FY21 Y-o-Y% Q4FY21 Q-o-Q% FY21 Total Income 163.2 129.9 26% 176.8 -8% 655.8 Raw Material 79.5 60.8 83.7 304.0 Employee Expenses 13.8 11.7 12.4 51.8 Other Expenses 42.2 31.2 43.6 157.2 EBITDA 27.7 26.2 6% 37.1 -25% 143.0 EBITDA Margins
Slide 9: Standalone Balance Sheet
Standalone Balance Sheet Assets (in Rs. Crs.) Mar-21 Mar-20 Equity & Liabilities (in Rs. Crs ) Mar-21 Mar-20 Non current Assets 318.7 328.9 Equity 559.1 514.0 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 77.6 80.7 Other Equity 523.1 478.0 Right to Use Asset 15.6 16.2 Capital WIP 1
Slide 10: Q1FY22 Consolidated Financial Highlights
Q1FY22 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +35% +35% +10 bps 277.8 35.7 12.8% 12.9% 206.4 26.5 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Profit After Tax [Rs. Crs.] Adjusted PAT margin [%] +150 bps +75% 6.4% 17.9 4.9% 10.2 Q1FY21 Q1FY22 Q1FY2
Slide 11: Q1FY22 Consolidated Profit & Loss
Q1FY22 Consolidated Profit & Loss Profit & Loss [Rs. Crs.] Q1FY22 Q1 FY21 Y-o-Y% Q4FY21 Q-o-Q% FY21 Total Income 277.8 206.4 35% 287.9 -4% 1042.5 Raw Material 131.7 95.9 132.8 474.0 Employee Expenses 42.3 34.8 39.0 151.8 Other Expenses 68.1 49.2 67.7 240.8 EBITDA 35.7 26.5 35% 48.5 -26% 175.9 EBITDA
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs.) Mar-21 Mar-20 Equity & Liabilities (in Rs. Crs ) Mar-21 Mar-20 Non current Assets 456.4 461.6 Equity 890.5 809.0 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 147.6 152.3 Other Equity 854.5 772.9 Right to Use Asset 20.3 22.0 Capital W
Slide 13: One Time Tax Impact on account of Goodwill
One Time Tax Impact on account of Goodwill Consolidated Profit & Loss [Rs. Crs.] Q4FY21 FY21 Profit After Tax Impacted by deferred tax liability ▪ As per amendments by Finance Act, 2021, Goodwill on amalgamation is no longer a Total Income 287.9 1042.5 depreciable asset and depreciation on goodwill
Slide 14: Subsidiaries Performance
Subsidiaries Performance EI Ceramics [$ mn] Monocon Group [GBP mn] 4.69 6.80 2.76 6.10 0.42 0.26 0.32 0.15 0.20 0.08 -0.18 -0.20 Revenue Q1FY21 Q1FY22 Q1FY21 Q1FY22 EBITDA PAT Hofmann Ceramic [Euro mn] 2.10 Overseas subsidiaries has witnessed sustainable demand improvement. All our 1.45 subsidiaries
Slide 15: Ongoing Capex to boost performance
Ongoing Capex to boost performance ➢ ~Rs. 10 Cr : For Normal Capex & debottlenecking 1 IFGL Odisha Plant by H1/FY23 ➢ Expansion phase – I completed in FY 20 2 IFGL Kandla Plant ➢ Further cost of Rs. 10 Cr by H2FY22. Work in full swing ➢ 10-acre Land acquired for manufacturing of New products includi
Slide 16: Consistently performing over the years…
Consistently performing over the years… Particulars [Rs. Crs.] FY17 FY18 FY19 FY20 FY21 Total Income 769.5 839.7 955.4 928.3 1,042.5 Materials consumed 362.0 421.4 477.0 459.1 474.0 Employee Expenses 120.9 126.7 146.2 150.5 151.8 Other Expenses 183.5 181.3 218.5 216.2 240.8 EBITDA 103.1 110.3 113.8
Slide 17: …to create sustainable value for Shareholders…
…to create sustainable value for Shareholders… Total Debt (Rs. Crs.) Cash & Equivalents (Rs. Crs.) Net Debt (Rs. Crs.) FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 112.5 321.9 27.9 17.7 84.0 89.4 204.5 52.0 51.6 134.2 -44.8 94.8 56.0 -152.4 -270.3 Net Debt : Equity [x]
Slide 18: …with consistent Payout
…with consistent Payout 100.0% 25.0% 25.0% 20.0% 20.0% 20.0% FY16 FY17 FY18 FY19 FY20 FY21 Particulars (Rs.) FY16 FY17 FY18 FY19 FY20 FY21 Consolidated Book Value Per Share 111.7 189.9 208.7 220.5 224.5 247.1 Consolidated Earning Per Share 12.1 13.9 13.1 14.0 11.1* 23.8* Dividend Per Share 2.00 2.00
Slide 19: Appointed Mr. James Leacock as Managing Director
Appointed Mr. James Leacock as Managing Director Mr. James Leacock McIntosh Appointed as Managing Director effective 1st Sep, 2021 • Holder of Masters Degree in Technological Marketing • More than three decades experience in Refractory Industry • Hands on experience of manufacturing and marketing of
Slide 20: Industry Overview
Industry Overview
Slide 21: Global Steel Demand Outlook
Global Steel Demand Outlook In MT World World (Ex China) Developing economies (Ex China) +4.2% +7.0% +7.7% 1,772 1,874 1,925 849 890 478 503 777 434 2020 2021F 2022F 2020 2021F 2022F 2020 2021F 2022F ➢ Global outlook: ▪ As per WSA, the current forecast assumes that the ongoing second or third waves
Slide 22: Forecasted Global Short-Term Steel Demand
Forecasted Global Short-Term Steel Demand In MT 2020 2021F 2022F +4.2% 1,925 1,874 1,772 +3.4% 1,392 1,364 1,303 +7.5% +6.1% 141 155 162 +3.3% 114 123 128 +7.4% +11.4% +7.2% +4.4% 39 43 45 36 42 45 36 39 41 46 49 50 58 60 62 USMCA Central & EU Other Europe Africa Middle East CIS Asia & Oceania World
Slide 23: Top 5 Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2020 2021F 2022F +2.0% 1,024.9 1,035.1 995.0 +12.6% +6.2% 106.1 112.3 +5.7% +3.8% 88.5 80.0 86.5 90.2 52.6 56.0 58.8 49.0 51.5 52.8 China India United States Japan South Korea Source: World Steel Association ➢ India outlook: ▪ India had implemented one of the st
Slide 24: National Infrastructure Pipeline (NIP) Project
National Infrastructure Pipeline (NIP) Project National Infrastructure Pipeline Project (NIP) Government unveiled the multimillion-dollar National Infrastructure Pipeline (NIP), with projects spread across 18 Investment allocation under NIP states over the next five years $5 Trillion Economy Others,
Slide 25: Domestic Steel Industry on a strong footing in the long term
Domestic Steel Industry on a strong footing in the long term India is now the world's second largest steel producer, surpassing Japan 1 Target of 300 MT* of production capacity by 2 2030 (National Steel Policy, 2017) Strong recovery in all sectors especially in steel consuming sectors of Real Estate
Slide 26: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Anti-Dumping Duty policy promotes fair trade and reduces the ill effects of dumping, on the Domestic Industry Infrastructure Huge export development and opportunity for India demand from the due to its low cost various sectors advantage Active local investment
Slide 27: Emerging Opportunities for Indian Market: Aatmanirbhar Bharat
Emerging Opportunities for Indian Market AATMANIRBHAR BHARAT ❑ AATMANIRBHAR BHARAT is the vision of the Government to make India a self-reliant nation. PM Modi has promoted “Vocal about Local” campaign which promotes Indian Companies to lead India to become self reliant ❑ Self-reliant India will ens
Slide 28: About Refractories
About Refractories What are Refractories Refractories are material having high melting points, with properties that make them suitable to act as heat- resisting barriers between high and low temperature zones. Refractories are inorganic nonmetallic material which can withstand high temperature witho
Slide 29: About Us
28 About Us
Slide 30: A Global MNC…
A Global MNC… Monocon , UK Hofmann Ceramic, Mono Ceramics Inc Germany Michigan, US Tianjin Monocon Tianjin, China EI Ceramics, Cincinnati, US IFGL, Kandla SEZ 29
Slide 31: Corporate Structure… …simplified to create value for shareholders
Corporate Structure… IFGL Refractories Limited 3.604 Cr Equity Shares with a Face Value of Rs. 10 each 100% Plants at Kalunga, Odisha, India IFGL Worldwide Holdings Limited + Plant at Kandla SEZ, Gujarat, India 100% 100% 100% + Hofmann Monocon Group EI Ceramics Ceramic Upcoming Plant at Visakhapatna
Slide 32: …with proven management…
…with proven management… Mr. S.K. Bajoria Mr. James McIntosh Mr. Kamal Sarda Chairman Managing Director Director & Chief Financial Officer (wef 1st Sep, 2021) • Promoter of S K Bajoria Group based at • Holder of Masters Degree in Technological • Fellow Member of ICAI and a law graduate with Kolkata
Slide 33: …serving the specialized refractory segment…
…serving the specialized refractory segment… Isostatic Refractories Slide Gate Refractories & Systems Tube Changer Refractories & System Purging System & Refractories Cast Products & Zirconia Nozzles Foundry Ceramics 32
Slide 34: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry Committed to Clean Metal
Slide 35: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mr. Rajesh Agarwal Mr. Shogun Jain / Mr. Shrenik Shah rajesh.agarwal@ifgl.in shogun.jain@sgapl.net / shr