Aditya Birla Real Estate Ltd · NSE:ABREL
Aditya Birla Real Estate — Century Textiles and Industries — Q4 FY21 Earnings Presentation
50 slides from Aditya Birla Real Estate's earnings presentation, May 6, 2021
Slide 1: Exchange cover letter for earnings presentation
CENTURY Textiles and Industries Limited REGD. OFFICE : ·CENTURY BHAVAN", DR. ANNIE BESANT ROAD, WORLI, MUMBAI-400 030. INDIA. TEL.: +91-22-2495 7000 FAX: + 91-22-2430 9491, + 91-22-2436 1980 E-Mail: ctil.ho@blrlacentury.com Website: www.centurytextind.com CIN-L17120MH1897PLC000163 OUR REF.: SH/XII/2
Slide 2: Earnings Presentation – Q4 FY21
Century Textiles and Industries Limited Earnings Presentation – Q4 FY21
Slide 3: Table of Contents
2 TABLE OF CONTENTS Summary Real Estate Pulp and Paper Textiles Financials
Slide 4: Key Operational Highlights
3 KEY OPERATIONAL HIGHLIGHTS • Sales in Q4 FY21 saw a 6.5% growth compared to Q4 FY20 and 8.2% compared to Q3 FY21, however FY21 saw a 22.9% revenue decline YoY due to the pandemic induced market conditions • Real Estate Business registered highest ever quarterly sales in Q4 FY21, garnered strong sa
Slide 5: Company Overview
4 COMPANY OVERVIEW • Incorporated in 1897, Century Textiles and Industries Limited (CTIL) has evolved from a single unit textile mill into a diversified conglomerate under the visionary leadership of Mr. B. K. Birla. • The company’s 123-years-old legacy is built on a steadfast commitment to the deve
Slide 6: Quarterly Consolidated Performance at a Glance
5 QUARTERLY CONSOLIDATED PERFORMANCE AT A GLANCE (RS. IN CRORES) TURNOVER EBITDA & EBITDA MARGINS PAT 89 80 770 820 80 11.6% 9.8% -5 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Summary TTM QUARTERLY PERFORMANCE 820 758 596 14.4% 11.1% 9.8% 394 7.6% 109 80 30 66 37 -36 -10 -5 Q1 FY21 Q2 FY21 Q3 F
Slide 7: Q4 FY21 Segment Wise Consolidated Performance
6 Q4 FY21 SEGMENT WISE CONSOLIDATED PERFORMANCE (RS. IN CRORES) REAL ESTATE PAPER AND PULP TEXTILES 37 35 566 541 50.0% 200 173 40.0% 30.0% -2.9% 17.2% 20.0% 14.1% -1 1.7% 10.0% 93 80 3 -4.5% 0.0% -54.1% -20 -9 -10.0% Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Summary Rental Income EBITDA EBITD
Slide 8: FY21 Consolidated Performance
7 FY21 CONSOLIDATED PERFORMANCE (RS. IN CRORES) EBITDA & EBITDA MARGINS TURNOVER PAT 3,331 378 600 2,567 285 18.0% 11.1% -15 FY20 FY21 FY20 FY21 FY20 FY21 Summary REAL ESTATE PAPER AND PULP TEXTILES 735 30.0% 2,383 582 146 142 20.0% 4.6% 21.4% 1,774 10.0% 21.8% -8.2% 0.0% 2.7% 12.5% -10.0% 511 34 31
Slide 9: Real Estate
Real Estate Over 34 lakh sq. ft. under construction across 3 projects
Slide 10: Executive Summary - Real Estate
9 EXECUTIVE SUMMARY - REAL ESTATE • The B. K. Birla Group forayed into the real estate sector in 2016 Real Estate under the brand name ‘Birla Estates’. REVENUE (RS. IN CRORES) • The company is focused on developing land parcels owned by the 159 Group, as well as growing the business with joint devel
Slide 11: Step Towards More Focus on Growing Business
10 STEP TOWARDS MORE FOCUS ON GROWING BUSINESS Real Estate Strong Vision & Strategy Opportunities Pulp & Paper Strengths Leveraging: Encash on: Strong focus on: • Rapid urbanization and nuclearization of • Maintaining a capital efficient, asset light • The Birla Brand families model Textiles • Deliv
Slide 12: Q4-FY21 Key Operational Highlights – Real Estate
11 Q4-FY21 KEY OPERATIONAL HIGHLIGHTS – REAL ESTATE Real Estate • Business registered strong sales performance across all 3 projects on the back of the healthy demand in the residential real estate segment. Pulp & Paper • Sold inventory worth INR 334 Cr during Q4 FY21 and INR 621 Cr during FY21 with
Slide 13: Market Outlook – Real Estate
12 MARKET OUTLOOK – REAL ESTATE Real Estate • Expansion in the vaccination program and improving economic scenario has considerably improved the market sentiment. • Continuous shift in preference towards branded developers from customers along with consolidation as landowners and smaller developers
Slide 14: Birla Estates Has Created Landmark Commercial Projects
13 BIRLA ESTATES HAS CREATED LANDMARK COMMERCIAL PROJECTS Real Estate Birla Aurora, Worli Birla Centurion, Worli • 2.55 Lakh sq. ft. of • 3.5 Lakh sq. ft. of Pulp & Paper commercial space commercial space • 22-storey building • 13-storey building Textiles Overview of the Buildings • Superior Quality
Slide 15: Summary of Portfolio Under Development
14 SUMMARY OF PORTFOLIO UNDER DEVELOPMENT Real Estate Land Area Area under Development Revenue Potential Location (in Acres) (in lakh sq. ft.) (in INR Crs) Worli – Residential 20.0 30.0* 9,500 Pulp & Paper Kalyan 22.0 13.1* 1,125 Total - Owned Parcels under 42.0 43.1 10,625 development Sec 63 A, Gur
Slide 16: Residential & Commercial Sales Highlights
15 RESIDENTIAL & COMMERCIAL SALES HIGHLIGHTS Real Estate % chg % chg % chg Particulars UOM Q4 FY21 Q4 FY20 Q3 FY21 FY21 FY20 YoY QoQ YoY Commercial Pulp & Paper Leasing Income Rs. Cr. 29.7 32.4 (9)% 31.6 (6)% 125.7 134.6 (7)% Average Rent Rs./sft 148.9 165.0 (10)% 162.0 (8)% 159.7 171.2 (7)% Realisa
Slide 17: Birla Vanya, Kalyan – Project Update
16 BIRLA VANYA, KALYAN – PROJECT UPDATE (LAUNCHED – Q1 FY20) Real Estate Location Shahad, Kalyan Area 22 acres Pulp & Paper 13.12 lakh sq. ft. Saleable Area Phase 1 – 5.24 lakh sq. ft. launched Revenue Potential Rs. 1,134 Crs Architect Arch. Hafeez Contractor Textiles Residential – 1 BHK, 2 BHK, 3 B
Slide 18: Birla Alokya, Bengaluru – Project Update
17 BIRLA ALOKYA, BENGALURU (Outright) - PROJECT UPDATE (LAUNCHED - Q3 FY20) Real Estate Location Soukya Road, Bengaluru Area 8.1 acres Pulp & Paper Saleable Area 5.47 lakh sq. ft. Revenue Potential Rs. 393 Crs Architect Synergy Textiles Product Type Residential – 3-Bed and 4-Bed Villaments Cumulativ
Slide 19: Birla Navya, Gurugram – Project Update
18 BIRLA NAVYA, GURUGRAM (JV) – PROJECT UPDATE Real Estate Location Sector 63 A, Gurugram, NCR Area 65 acres Pulp & Paper Saleable Area 36.5 lakh sq. ft. Revenue Potential Rs. 4,415 Crs Architect R Corp Textiles Product Type Residential – 2 BHK, 3 BHK & 4 BHK Launch Year October 2020 Financials Cumu
Slide 20: Century Mills, Worli – Project Update
19 CENTURY MILLS, WORLI – PROJECT UPDATE Real Estate Location Worli, Mumbai Area 20 acres Pulp & Paper Saleable Area 30 lakh sq. ft. Revenue Potential Rs. 10,000 Crs Textiles Architect Foster & Partners Residential – 2 BHK, 3 BHK, 4 BHK and Product Type 5 BHK Penthouse Launch Year FY 22 Financials C
Slide 21: Tisya (Magadi Road), Bengaluru – Project Update
20 TISYA (MAGADI ROAD), BENGALURU (JV) – PROJECT UPDATE Real Estate Location Magadi Road, Bengaluru Area 4.75 acres Pulp & Paper Saleable Area 5.97 lakh sq. ft. Revenue Potential Rs. 589 Crs Textiles Architect RSP Residential – 2 BHK, 2.5 BHK, 3 BHK & Product Type 4 BHK Launch Year FY 22 Financials
Slide 22: Pulp & Paper
Pulp & Paper Flag bearer in Paper Industry
Slide 23: Pulp & Paper - Executive Summary
22 PULP & PAPER - EXECUTIVE SUMMARY Real Estate • Century Pulp and Paper (CPP) is a producer of excellent quality writing and printing paper, and a leading manufacturer of tissue and board, as well as Rayon Grade Pulp (RGP) products. • Established in 1984, with relentless focus on quality, the compa
Slide 24: Step Towards More Focus on Growing Business
23 STEP TOWARDS MORE FOCUS ON GROWING BUSINESS Real Estate Strong Vision & Strategy Opportunities Pulp & Paper Strengths Leveraging: Encash on: Strong focus on: • India’s only integrated Pulp & Paper mill • Growth in tissue paper demand due to providing comprehensive solution from • Cash Conservatio
Slide 25: Q4-FY21 Key Operational Highlights – Pulp & Paper
24 Q4-FY21 KEY OPERATIONAL HIGHLIGHTS – PULP & PAPER Real Estate Pulp & Paper • Q4 FY21 performed better than the previous quarters of FY21. Sales volumes witnessed growth of 15.7% in Q4 FY21 as compared to Q3 FY21 and 4.6% growth compared to Q4 FY20 Textiles • Demand for non-copier paper increased
Slide 26: Market Outlook – Pulp & Paper
25 MARKET OUTLOOK – PULP & PAPER Real Estate • Second wave of the mutated Covid-19 virus can affect demand in the domestic, as well as global market. • Partially re-started paper consumption centres like schools, colleges, offices, judiciary, restaurants, and hotels are being closed by the authoriti
Slide 27: Q4 FY21 Production & Sales
26 Q4 FY21 PRODUCTION & SALES Real Estate 566 1,11,283 1,10,955 1,09,891 542 1,06,195 28 7,830 10,189 4,998 22 97,749 6,019 39 10,303 40 9,000 6,029 3,700 5,608 5,655 Pulp & Paper 42,994 230 41,676 215 45,000 39,800 38,988 Textiles 53,061 55,880 265 269 49,453 50,484 49,406 Financials Capacity Q4 FY
Slide 28: FY21 Production & Sales
27 FY21 PRODUCTION & SALES Real Estate 4,45,130 4,46,758 4,15,278 31,320 40,844 2,383 14,110 36,000 25,670 25,308 89 3,58,346 Pulp & Paper 3,41,239 190 31,398 12,595 22,674 22,557 1,774 161,202 159,855 180,000 72 898 146 148,604 148,074 783 Textiles 219,042 216,005 197,810 1,207 155,670 158,013 774
Slide 29: Macros
28 MACROS Real Estate NSR MOVEMENT (INR/ TONS) 56,368 55,062 52,594 51,900 52,093 YoY QoQ 52,385 (8)% 0% Pulp & Paper 49,147 49,052 47,341 YoY QoQ 45,183 (4)% 5% Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Domestic Export OVERALL CONTRIBUTION Textiles 55,411 54,737 52,165 50,816 51,490 16,880 14,679 13,
Slide 30: Textiles
Textiles World’s 2nd and India’s 1st LEED V4 certified textile mfg co.
Slide 31: Executive Summary – Century Textiles
30 EXECUTIVE SUMMARY – CENTURY TEXTILES Real Estate • Century Textiles and Industries Limited (CTIL), was incorporated in Mumbai, India, in 1897. A state-of-the-art, vertically integrated plant, Birla Century (A Division of CTIL) was set up at Jhagadia, Bharuch, Gujarat, in the year 2008, using the
Slide 32: Step Towards More Focus on Growing Business
31 STEP TOWARDS MORE FOCUS ON GROWING BUSINESS Real Estate Advantages Growth Drivers Pulp & Paper Strengths • State-of-the-Art Vertically Integrated • US-China trade war has increased demand Plant (Fibre to Finishing) • Increased penetration of organised of Indian products in USA retail, better demo
Slide 33: Q4-FY21 Key Operational Highlights – Textiles
32 Q4-FY21 KEY OPERATIONAL HIGHLIGHTS– TEXTILES Real Estate Pulp & Paper Textiles • Overall business environment and production across India returned to normalcy. Fourth quarter closed overall with good demand in retail, domestic and international brands • Supply was lower than demand causing invent
Slide 34: Market Outlook - Textiles
33 MARKET OUTLOOK - TEXTILES Real Estate • In FY 22, increase in demand is expected as some export customers have started shifting their orders from China to India. However, the global market outlook is still not clear because of the new virus strain of Corona world-wide. • Apparel fabric product de
Slide 35: Macros – Q4 FY21
34 MACROS – Q4 FY21 Real Estate CLOTH – CAPACITY UTILISATION NET SALES REALISATIONS OVERALL CONTRIBUTION (RS. PER/MTR) YoY QoQ YoY QoQ 92% 90% (3)% 1% 20% 3% 9,319 8,537 8,360 (RS. PER/MTR) 245 238 (000 MTRS) 204 148 153 147 Pulp & Paper PRODUCTION - CLOTH DOMESTIC EXPORT PRO RATA CAPACITY Q4 FY20 Q
Slide 36: Sales – Q4 FY21
35 SALES – Q4 FY21 Real Estate CLOTH BED SHEETS YARN OTHERS NET SALES QUANTITY NET SALES QUANTITY NET SALES QUANTITY 8,543 736 443,330 7,306 388,092 (NO. OF SETS) Pulp & Paper 561 (000 MTRS) (TONS) Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Textiles NET SALES NET SALES NET SALES NET SALES 123 5
Slide 37: Macros – FY21
36 MACROS – FY21 Real Estate CLOTH – CAPACITY UTILISATION NET SALES REALISATIONS OVERALL CONTRIBUTION (RS. PER/MTR) YoY YoY 96% (3)% 12% 37,275 35,942 65% 232 (RS. PER/MTR) 207 (000 MTRS) 24,356 152 156 Pulp & Paper PRODUCTION - CLOTH DOMESTIC EXPORT PRO RATA CAPACITY FY20 FY21 FY21 FY20 Textiles FA
Slide 38: Sales – FY21
37 SALES – FY21 Real Estate CLOTH BED SHEETS YARN OTHERS NET SALES QUANTITY NET SALES QUANTITY NET SALES QUANTITY 32,700 14,90,641 2,232 (NO. OF SETS) 1,219,297 Pulp & Paper 1,719 (000 MTRS) 23,100 (TONS) FY20 FY21 FY20 FY21 FY20 FY21 Textiles NET SALES NET SALES NET SALES NET SALES 144 151 515 60 4
Slide 39: Financial Summary
Financial Summary 38
Slide 40: Profit & Loss – Q4 FY21
39 PROFIT & LOSS – Q4 FY21 Real Estate (RS. IN CRORES) Q4 FY 21 Variance Q on Q Variance Y on Y Particulars Q4 FY 20 Q3 FY 21 Actual Amount % Amount % Continuing Operations Sales Textiles 173 216 200 -16 -7% 27 16% Pulp & Paper Pulp & Paper 541 489 566 77 16% 25 5% Real Estate 37 36 35 -1 -2% -2 -4%
Slide 41: Profit & Loss – FY21
40 PROFIT & LOSS – FY21 Real Estate (RS. IN CRORES) Variance Y on Y Particulars FY20 FY21 Amount % Continuing Operations Sales Textiles 735 582 -153 -21% Pulp & Paper Pulp & Paper 2,383 1,774 -609 -26% Real Estate 146 142 -4 -3% Others 67 69 2 3% Total Sales 3,331 2,567 -764 -23% EBITDA Textiles 34
Slide 42: Cash Flow – Q4 FY21
41 CASH FLOW – Q4 FY21 Real Estate (RS. IN CRORES) Pulp & Birla Yarn & Grand Particulars Textile Rayon H.O. Sub Total Paper Estates Denim Total EBITDA (9) 11 80 (1) - 80 (8) 73 MAT Paid - - Pulp & Paper Dividend Paid (Including Tax) - - Net Change in Working Capital 19 (8) 54 11 - 76 2 78 Income Tax
Slide 43: Cash Flow – Q4 FY21
42 Financials Textiles Pulp & Paper Real Estate CASH FLOW – Q4 FY21 (INR CRORES)
Slide 44: Cash Flow – FY21
43 CASH FLOW – FY21 Real Estate (RS. IN CRORES) Pulp & Birla Yarn & Grand Particulars Textile Rayon H.O. Sub Total Paper Estates Denim Total EBITDA (48) 48 221 31 33 285 (29) 256 MAT Paid (2) (2) (2) Pulp & Paper Dividend Paid (Including Tax) (34) (34) (34) Net Change in Working Capital 93 (36) 149
Slide 45: Cash Flow – FY21
44 Financials Textiles Pulp & Paper Real Estate CASH FLOW – FY21 (INR CRORES)
Slide 46: Statement of Outstanding Loan
45 STATEMENT OF OUTSTANDING LOAN (RS. IN CRORES) Real Estate O/s as on O/s as on O/s as on Particulars 31/03/20 31/12/20 31/12/21 Long Term Loans 200 580 580 Average Rate of Interest 7.80% 6.85% 6.85% Pulp & Paper Short Term and Working Capital Loans 59 79 2 Average Rate of Interest 6.45% 3.07% 2.00
Slide 47: Outstanding Loan
46 OUTSTANDING LOAN Real Estate 1,382 @ 7.80% 1,091 @ 6.88% 23 32 1,021 @ 6.14% Pulp & Paper BEPL- 8.15% 39 BEPL- 7.25% BEPL- 7.20% 400 400 NCD- 7.87% NCD- 7.65% NCD- 5.04% 1,100 79 2 Textiles STL- 6.45% STL- 3.07% STL- 2.00% 580 580 LTL- 7.80% 59 Financials LTL- 6.85% LTL- 6.85% 200 Q4 FY20 Q3 FY21
Slide 48: Financial Performance
47 FINANCIAL PERFORMANCE Real Estate REVENUES (RS. IN CRORES) EBITDA (RS. IN CRORES) PAT (RS. IN CRORES) 1,061 (RS. IN CRORES) 3,947 3,944 499 3,423 851 378 2,616 600 280 Pulp & Paper 285 -15 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Textiles NET WORTH (RS. IN CRORES) NET DEBT TO E
Slide 49: Disclaimer
48 DISCLAIMER Century Textiles and Industries Limited No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinion
Slide 50: Thank You
49 Bringing our century old legacy and expertise into all our businesses while focusing on sustainability, customer centricity, technology and innovation to be future ready Thank You
Century Textiles and Industries — Q4 FY21 Earnings Presentation on 6ix