Shree Pushkar Chemicals & Fertilisers Ltd. · NSE:SHREEPUSHK
Shree Pushkar Chemicals & Fertilisers — Q3 FY2019 Earnings Presentation
34 slides from Shree Pushkar Chemicals & Fertilisers's earnings presentation, Feb 7, 2019
Slide 1: Shree Pushkar Chemicals & Fertilisers Ltd. Investor Presentation
Shree Pushkar Chemicals & Fertilisers Ltd. Investor Presentation February 2019 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: Q3 & 9MFY19 Highlights
Q3 & 9MFY19 Highlights 3
Slide 4: 9MFY19 Financial Highlights
9MFY19* Financial Highlights Consistently Improving Performance Revenue Rs. 334.3 Crores • Improving business scenario in Dyes & Dye Intermediates • Launch of Dyes brand “DyecolTM” EBITDA Better operating leverage Rs. 56.5 Crores Margin 16.9% • Improved Product Mix PAT Performance in Line Rs. 33.2 C
Slide 5: Q3FY19 Standalone Performance Highlights
Q3FY19 Standalone Performance Highlights Total Revenue from operations Adjusted EBITDA* PAT (Rs in Crores) 17.7% 21.2% +15.9% +39.2% +12.6% 108.7 23.1 10.7 93.8 9.5 16.6 Q3FY18 Q3FY19 Q3FY18 Q3FY19 Q3FY18 Q3FY19 *EBITDA excludes arrears in remuneration to promoters of Rs. 5.03 Crores in Q3FY19. The
Slide 6: 9MFY19 Performance Highlights (Y-o-Y)
9MFY19* Performance Highlights (Y-o-Y) (Rs in Crores) Total Revenue from operations EBITDA PAT 334.3 56.5 33.2 48.7 275.2 36.3 6.3 27.2 3.3 1.3 7.0 0.4 298.0 47.4 50.2 29.9 268.2 26.8 9MFY18 9MFY19 9MFY18 9MFY19 9MFY18 9MFY19 As per Ind AS *Includes Revenue from Kisan Phosphates Standalone Kisan Pho
Slide 7: Re-organisation in Kisan Phosphates
Re-organisation in Kisan Phosphates Total Revenue from operations EBITDA PAT (Rs in Crores) 36.3 6.3 3.3 25.2 4.0 1.7 FY18* 9MFY19 FY18* 9MFY19 FY18* 9MFY19 *Share attributable to Shree Pushkar Acquisition of Kisan Phosphates effective from 12th October 2017 Steps Taken for Re-organisation in the bu
Slide 8: Consistent Growth in Business
Consistent Growth in Business Margin % (Rs in Crores) 14.0% 11.9% 13.9% 17.5% 15.4% 16.9% +17% 395.3 +20% 61.1 334.3 54.0 56.5 308.1 266.5 251.2 210.1 29.4 31.8 34.9 FY14 FY15 FY16 FY17* FY18*^ 9MFY19*^ FY14 FY15 FY16 FY17* FY18*^ 9MFY19*^ Total Revenue from operations EBITDA 11.8% 10.6% 12.4% 15.8%
Slide 9: Higher Contribution from Dyestuff Business
Higher Contribution from Dyestuff Business (Rs in Crores) 101.2 201.2 196.4 200.3 81.1 165.4 171.4 173.0 40.2 FY17* FY18* 9MFY19* FY14 FY15 FY16 FY17* FY18* 9MFY19* Dyestuff Dye Intermediates 57.6 54.1 16.3 48.2 48.7 10.3 10.2 31.0 30.8 7.7 8.7 7.8 FY14 FY15 FY16 FY17* FY18* 9MFY19* FY14 FY15 FY16 F
Slide 10: Key Financial Parameters
Key Financial Parameters (Rs in Crores) Net Debt ROE % 21.1% 16.3% 15.7% 15.4% 15.7% 13.7% 58 45 22 16 -8 -24 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18^ Sep-18^ Mar-14 Mar-15 Mar-16* Mar-17* Mar-18*^ Sep-18*^ Net Debt to Equity ROCE % 24.9% 23.5% 19.6% 18.3% 19.4% 17.2% 0.9 0.2 0.2 0.1 -0.1 0.0 Mar-14 Mar-
Slide 11: Consolidated P&L Statement
Consolidated* P&L Statement Particulars (Rs. In Crores) Q3 FY19 Q3 FY18 Y-o-Y Q2 FY19 Q-o-Q 9M FY19 9M FY18 Y-o-Y FY18 Revenue from Operations (Net of Excise) 121.4 100.7 20.5% 115.4 5.2% 334.3 275.2 21.5% 395.3 Raw Material 77.0 65.2 76.5 218.4 184.1 272.1 Employee Cost 7.0 5.9 6.6 18.4 13.0 18.7 O
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet EQUITY AND LIABILITIES (Rs. In Crores) Sep-18 Mar-18 ASSETS (Rs. In crores) Sep-18 Mar-18 Equity Non-current assets Equity Share capital 30.7 30.2 Other equity 227.8 206.9 Property, plant and equipment 160.7 161.4 Sub-total - Shareholders' funds 258.5 237.1 Capital work-in
Slide 13: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. In Crores) Q3 FY19 Q3 FY18 Y-o-Y Q2 FY19 Q-o-Q 9M FY19 9M FY18 Y-o-Y FY18 Revenue from Operations (Net of Excise) 108.7 93.8 15.8% 103.2 5.3% 298.0 268.2 11.1% 370.2 Raw Material 70.2 63.7 70.0 198.1 182.5 258.3 Employee Cost 6.1 5.2 5.5 15.8 12.4 17.0 Other
Slide 14: Standalone Balance Sheet
Standalone Balance Sheet EQUITY AND LIABILITIES (Rs. In Crores) Sep-18 Mar-18 ASSETS (Rs. In crores) Sep-18 Mar-18 Equity Non-current assets Equity Share capital 30.7 30.2 Other equity 222.2 203.5 Property, plant and equipment 141.9 141.8 Sub-total - Shareholders' funds 252.9 233.7 Capital work-in-p
Slide 15: 9MFY19 Segmental Highlights
9MFY19 Segmental Highlights • Sustained contribution from Dyestuff segment to our revenues which has been on the uptrend. We believe, the realization of Dyestuff to improve as the increase in prices of dye intermediates gets passed on to the dyestuff Revenue Break up 9MFY19 • Acid Complex Division c
Slide 16: Business Overview
Business Overview 16
Slide 17: A Winning Formula…
A Winning Formula… Ramping up of higher margin Dyestuff Segment Products spread across 5 segments Brand DyecolTM for Dyestuff Segment Undertaken Backward & Forward Integration Single location plant at Lote Parshuram Exports to world’s leading dye manufacturers Marketing through +300 dealers for Fert
Slide 18: Evolution of Our Business
Evolution of Our Business 1993 – 2004- 2011 – 2017 & Beyond 2003 2010 2016 • Commenced trading/imports •We continue to rapidly expand our • Recycling of effluents from Dye • In 2011, began use of Spent acid of chemical products & dye presence in the Dyestuff Segment Intermediates Division with the f
Slide 19: Our Product Portfolio
Our Product Portfolio Our Products Constantly on the improvement Single Super Phosphate (SSP) Gamma Acid, K- Acid, R- based on market response with Soil Conditioner, Mixed granulated Sulphuric Acid, Oleum and Di- Calcium Phosphate Salt, Vinyl Sulphone, Meta over 30 different shades in fertiliser (NP
Slide 20: A Snapshot of Our Infrastructure
A Snapshot of Our Infrastructure Dyestuff & Dye Intermediates Product Capacity in MTA Reactive Dyes 6,000 Fertilizers H-Acid 3,150 Others Product Capacity in MTA Vinyl 3,700 Sulphone SSP 2,00,000 K-Acid 960 SOP 20,000 Product Capacity in MTA NPK 18,000 Acids 40,000 Gamma Acid 480 Di Calcium Soil Con
Slide 21: 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 – SSP Granulation Plant Unit 3 - New Reactive Dyes Plant Unit 4 - SOP Sulphuric Acid Plant New Application Lab for Testing of Dyes … leading to operational and logistics effici
Slide 22: Persistent Focus on the High Margin Dyestuff Segment
Persistent Focus on the High Margin Dyestuff Segment Revenue* (Rs. In Crores.) As a proportion of our Revenues 268.2 298.0 103.2 108.7 Dyes 26.2% 27.2% 28.2% 32.4% Dye Intermediates Fertiliser Others 50.8% 58.0% 57.1% 54.5% 15.8% 10.3% 9.7% 8.5% 7.3% 4.4% 5.1% 4.6% 9MFY18 9MFY19 Q2FY19 Q3FY19 *Above
Slide 23: Our Foray into Dyestuff
Our Foray into Dyestuff Captive Consumption of Raw What are Reactive Dyes? Our Manufacturing Capacity Material • A class of highly coloured organic • Located at our Integrated Complex in • Additional Vinyl Sulphone Capacity of substances Lote Parshuram 1000 MTA commissioned in January 16 and commerc
Slide 24: An Overview of our Dye Intermediates Business
An Overview of our Dye Intermediates Business Revenue in Rs. Crores Product offerings for Dyestuff Manufacturers +9% 201 196 200 165 170 173 Gamma Acid 128 Meta Ureido Aniline H- Acid FY13 FY14 FY15 FY16 FY17 FY18* 9MFY19* Vinyl Sulphone K- Acid ❑ One of the few manufactures of wide range of dye int
Slide 25: Our Fertilisers Division
Our Fertilisers Division Nitrogen Sulphate of Granular Single Soil Conditioner Phosphorus Potash (SOP) Calcium Chloride Superphosphate (SSP) Potassium (NPK) • The main raw materials • NPK fertilizer is primarily • Soil conditioner is a product • SOP is a preferred form • To utilize HCL for SSP are r
Slide 26: Inorganic Expansion in Fertilizers
Inorganic Expansion in Fertilizers Acquired 100% equity of Kisan Phosphate Pvt Limited for Rs. 9+ Crores – Acquisition effective from 12th October 2017 • Kisan Phosphate is in similar business segment in separate Existing Capacity at Lotte Parshuram geographical region Existing Capacity with Kisan P
Slide 27: Our Marketing Partnerships
Our Marketing Partnerships NPK Fertiliser NPK is sold under Marketing tie-up with DCM Shriram • Along with our marketing Launched under the brand ‘Shriram Urja Mix’ in the state of Maharashtra partnerships, we are constantly strengthening our own retail marketing network SSP Fertilizer for sale of o
Slide 28: 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 28
Slide 29: Our Strengths
Our Strengths Fast Paced Growth in our Dyestuff Zero Waste Chemical Company Segment We do not incur large costs on effluent treatment Substantial increment in the contribution from Dyestuff due to our zero waste model Segment to our Revenue on a quarter on quarter basis Cost Efficiencies Low Financi
Slide 30: Growth Drivers for the Future
Growth Drivers for the Future Environmentally Conscious • A clean track record with no regulatory issues • Continue to recycle our effluents in our integrated model and minimize discharge • We are already BlueSign certified company and our manufacturing bases are as per Plans For Expansion internati
Slide 31: 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 32: Client Profile
Client Profile Domestic Clients International Clients 32
Slide 33: 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 34: 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: L24100MH1993PLC071376 CIN: U74140MH2010PTC204285 Mr. S N Sengupta, Associate Director Mr. Rahul Agarwal sengupta@shreepushkar.com rahul.a
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