Grindwell Norton Limited · NSE:GRINDWELL
Grindwell Norton — Investor Presentation (June 2014)
17 slides from Grindwell Norton's investor presentation, Jun 2, 2014
Slide 1: Grindwell Norton Ltd. (GNO) Investor Meet
Grindwell Norton Ltd.(GNO) Investor Meet 2nd June 2014
Slide 2: Key Financial Indicators
Key Financial Indicators (Rs. Crores) Key Financials Consolidated FY 13-14 FY 12-13 Growth % Net Sales 923 915 0.9% Operating Profit 125 139 -9.7% Profit After Tax 84 97 -13.8% OP margin % 13.5% 15.1% ROCE % 21.8% 26.3% Net Cash Flow from Operations (CFO) 106 104 CFO after CapEx 80 21
Slide 3: Net Sales Bridge
Net Sales Bridge FY 2012-13 FY 2013-14 Sales = Rs.915 Increase of ~Rs. 8 crores (+0.9%) Sales = Rs.923 (Rs. Crores) 3.4% 0.2% -2.7% Source: Published quarterly segment results 3
Slide 4: Net Sales Bridge
Net Sales Bridge FY 2012-13 FY 2013-14 Sales = Rs.915 Increase of ~Rs. 8 crores (+0.9%) Sales = Rs.923 (Rs. Crores) 9 11 -40 28 915 923 3.1% 1.2% 0.9% -4.3% 2012-13 Price realisation Domestic Exports Volume One-time 2013-14 Volume machinery exports in 12-13 4
Slide 5: GNO: Domestic & Export Sales (Net)
GNO: Domestic & Export Sales (Net) (Rs. Crores) 1,000 CAGR: 915 923 - Total : 15.2% 884 GNO (Total) - Domestic: 15.0% Domestic 781 800 - Exports: 17.1% Exports 813 820 790 710 600 562 502 441 373 500 400 318 434 266 397 225 333 285 200 238 125 203 103 68 62 71 71 21 27 33 40 44 - 2003 2004 2005 2006
Slide 6: GNO, Abrasives, C&P, Others - Net Sales
GNO, Abrasives, C&P, Others - Net Sales (Rs. Crores) 1,000 915 923 GNO (Total) CAGR: 884 Abrasives - Total : 15.2% C&P - Abrasives : 13.8% 781 800 Others - C&P : 18.6% 600 562 633 502 610 602 441 545 400 373 318 266 386 358 252 251 252 225 330 218 286 200 236 152 126 207 98 174 65 77 62 53 38 46 12
Slide 7: GNO, Abrasives, C&P, Others Quarterly Sales
GNO, Abrasives, C&P, Others Quarterly Sales (Rs. Crores) GNO (Total) 245 250 226 227 222 234 230 234 227 230 228 Abrasives 224 220 C&P 201 192 200 Others 184 179 172 152 165 168 150 137 162 162 127 156 152 153 152 148 152 144 149 145 128 132 122 100 116 103 97 68 70 69 87 66 63 63 61 64 59 60 57 59
Slide 8: Key Financial Indicators
Key Financial Indicators (Rs. Crores) Key Financials Consolidated FY 13-14 FY 12-13 Growth % Net Sales 923 915 0.9% Operating Profit 125 139 -9.7% Profit After Tax 84 97 -13.8% OP margin % 13.5% 15.1% ROCE % 21.8% 26.3% Net Cash Flow from Operations (CFO) 106 104 CFO after CapEx 80 21
Slide 9: Operating Profit Bridge
Operating Profit Bridge FY 2012-13 FY 2013-14 PBIT = Rs138.5 Decrease of Rs.13.5 crores (-11%) PBIT = Rs 125 (Rs. Crores) -10.6Abrasives ~ 4% 0.9 -7.1 3.3 138.5 125 PBIT FY13 Abrasives Ceramics & Plastics Others Unallocable Income PBIT FY14 Source: Published quarterly segment results 9
Slide 10: Operating Profit Bridge
Operating Profit Bridge FY 2012-13 FY 2013-14 PBIT = Rs138.5 Decrease of Rs.13.5 crores (-11%) PBIT = Rs 125 (Rs. Crores) 1.7Abrasives ~ 4% -27 28.3 -7.4 -8.4 8.7 -9.4 138.5 125 PBIT FY13 Price Volume & Mix Input Cost Depreciation Staff costs Other Income Other PBIT FY14 realisation Expenses 10
Slide 11: GNO, Abrasives, C&P, Others - PBIT
GNO, Abrasives, C&P, Others - PBIT (Rs. Crores) 149 150 CAGR: 139 - Total : 14.6% - Abrasives : 14.2% 126 125 130 GNO (Total) - C&P : 16.2% Abrasives 110 C&P 98 97 Others 88 88 90 83 80 78 69 70 61 59 54 52 49 47 50 44 36 37 32 32 34 34 34 30 21 18 13 14 15 14 8 9 11 10 5 4 4 5 2 3 3 0 1 -10 2003 20
Slide 12: GNO Profits – PBIT & PAT
GNO Profits – PBIT & PAT (Rs. Crores) 149 CAGR – 2003-2014: 139 140 14.6% 126 125 120 PBIT PAT 98 100 83 80 104 97 80 69 86 84 60 54 44 64 40 32 57 55 CAGR – 2003-2014: 46 35 15.2% 20 29 20 0 2005 2006 2003 2004 2007 2008 11/12 10/11 12/13 13/14 09/10* (1) 2013-14: PBIT growth: -10% ; PAT growth: -1
Slide 13: GNO, Abrasives, C&P, Others - Quarterly PBIT
GNO, Abrasives, C&P, Others - Quarterly PBIT 50 (Rs. Crores) GNO (Total)** Abrasives 43 C&P 39 40 Others 37 35 36 35 34 34 34 34 31 32 30 30 30 30 28 27 27 26 27 25 24 24 23 22 22 22 22 22 21 21 21 20 20 20 20 20 17 16 16 14 14 11 12 11 11 9 10 10 10 10 9 9 8 8 8 9 10 8 7 8 7 3 3 3 3 2 2 1 1 1 1 2 2
Slide 14: Key Financial Indicators
Key Financial Indicators (Rs. Crores) Key Financials Consolidated FY 13-14 FY 12-13 Growth % Net Sales 923 915 0.9% Operating Profit 125 139 -9.7% Profit After Tax 84 97 -13.8% OP margin % 13.5% 15.1% ROCE % 21.8% 26.3% Net Cash Flow from Operations (CFO) 106 104 CFO after CapEx 80 21
Slide 15: GNO Profitability - ROCE, Operating Margin (%)
GNO Profitability - ROCE, Operating Margin (%) ROCE PBIT Margin 40 18.5 18.5 18.3 ROCE 18 PBIT (%) 35 16.8 16.4 16.5 34.5 15.7 15.8 16 30 31.6 15.1 30.8 30.8 14.1 29.3 28.9 27.9 14 13.4 13.5 25 25.8 26.3 20 21.9 21.8 12 18.7 15 10 2002 2003 2004 2005 2006 2007 2008 09/10 10/11 11/12 12/13 13/14 Year
Slide 16: GNO – Dividend
GNO – Dividend In 2007, a special interim dividend of Rs 4 per share was declared Source: Annual Reports 16
Slide 17: Thank You
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