Camlin Fine Sciences Limited · NSE:CAMLINFINE
Camlin Fine Sciences — Q3 FY20 Earnings Presentation
28 slides from Camlin Fine Sciences's earnings presentation, Feb 10, 2020
Slide 1: Stock exchange intimation letter for investor presentation
l Oth February, 2020 To , To, BSE Limited, The Manager, 25, P. J. Towers, Listing Department, Dalal Street, National Stock Exchange of India Ltd., Mumbai-400 001 Exchange Plaza, Bandra Kurla Complex, Ref: Company Scrip Code: 532834 Bandra (East), Mumbai- 400051 Ref: Symbol: CAMLINFINE I I Series: EQ
Slide 2: Earnings Presentation 9M / Q3-FY20
EARNINGS PRESENTATION 9M / Q3-FY20
Slide 3: Executive Summary
2 Executive Summary 2 Company Overview Financials FY19 Consolidated (INR Mn) • Camlin Fine Sciences Limited (CFS), formed in 2006 after demerging the Operational fine chemical business from Camlin Ltd., is a vertically integrated company Revenue engaged in research, development, manufacturing, comme
Slide 4: Snapshot
3 Snapshot One of the few Leading Manufacturers of vertically and Antioxidants in the world 3rd largest producer of backward with more than 30 years of Vanillin in the world integrated players experience Strategic move to start Serving more than 80 blends which have higher countries with over Prefer
Slide 5: About the Company
4 About the Company • In 2006, Camlin Fine Sciences Limited (CFS) was formed after de-merging (mirror Total Operational Revenue (INR Mn) shareholding) the fine chemical business from Camlin Ltd. • The Company has over 30 years of experience providing innovative solutions with a 10,000 8,922 competit
Slide 6: 9M / Q3-FY20 Financial Overview
5 9M / Q3-FY20 FINANCIAL OVERVIEW
Slide 7: 9M / Q3-FY20 Financial & Operational Highlights
6 9M / Q3-FY20 Financial & Operational Highlights Q3-FY20 Financial Highlights (Standalone): Q3-FY20 Financial Highlights (Consolidated): • Turnover: INR 1,532 Mn • Turnover: INR 2,739 Mn • EBITDA: INR 140 Mn • EBITDA: INR 295 Mn • EBITDA Margin : 9.14% • EBITDA Margin: 10.77% • Adjusted EBITDA*: IN
Slide 8: Q3-FY20 Standalone Income Statement (Ind-AS)
7 Q3-FY20 Standalone Income Statement (Ind-AS) Income Statement (Mn) Q3-FY20 Q3-FY19 Y-o-Y Q2-FY20 Q-o-Q Operational Revenue 1,532 1,499 2.2% 1,435 6.8% Total Expenses 1,392 1,575 (11.6)% 1,255 10.9% Operational EBITDA 140 (76) NA 180 (22.2)% Operational EBITDA Margins (%) 9.14% - NA 12.54% (340) Bp
Slide 9: 9M-FY20 Standalone Income Statement (Ind-AS)
8 9M-FY20 Standalone Income Statement (Ind-AS) Income Statement (Mn) 9M-FY20 9M-FY19 Y-o-Y Operational Revenue 4,402 3,766 16.9% Total Expenses 3,945 3,563 10.7% Operational EBITDA 457 203 125.1% Operational EBITDA Margins (%) 10.38% 5.39% 499 Bps Adjusted EBITDA* 457 204 124% Adjusted EBITDA Margin
Slide 10: Q3-FY20 Consolidated Income Statement (Ind-AS)
9 Q3-FY20 Consolidated Income Statement (Ind-AS) Income Statement (INR Mn) Q3-FY20 Q3-FY19 Y-o-Y Q2-FY20 Q-o-Q Operational Revenue 2,739 2,414 13.5% 2,223 23.2% Total Expenses 2,444 2,259 8.2% 1,922 27.2% Operational EBITDA 295 155 90.3% 301 (2.0)% Operational EBITDA Margins (%) 10.77% 6.42% 435 Bps
Slide 11: 9M-FY20 Consolidated Income Statement (Ind-AS)
10 9M-FY20 Consolidated Income Statement (Ind-AS) Income Statement (INR Mn) 9M-FY20 9M-FY19 Y-o-Y Operational Revenue 7,563 6,241 21.2% Total Expenses 6,606 5,723 15.4% Operational EBITDA 957 518 84.7% Operational EBITDA Margins (%) 12.65% 8.30% 435 Bps Adjusted EBITDA* 964 519 86% Adjusted EBITDA M
Slide 12: Country Overview
11 11 COUNTRY OVERVIEW
Slide 13: CFS India
12 CFS India • R&D Centre at Tarapur that has developed many new Diphenol-downstream products • Shelf Life Solutions Development, Testing and Applications Lab at Mumbai that works on testing food formulations and blends for the food, pet food and animal nutrition industries • Provides technical expe
Slide 14: Update on Dahej Project
13 Update on Dahej Project Work / Activities completed Mechanical Completion done successfully in January 2020 All utilities completed successfully Electricals and insulations tested successfully Time line Commercial production Simulation trial of Critical Equipment completed successfully ex
Slide 15: CFS Mexico
14 CFS Mexico • Acquire 65% stake in Dresen Quimica SAPI De CV, Mexico in May 2016 • Primarily manufactures Blends and Additives • Key customer segments: Oil, Poultry, Diary, Rendering, Aqua, Pet food, Swine, Vitamin Cuba Mexico city Pre-mix Republic of • Total Market size is ~USD 200 Mn and CFS Mex
Slide 16: CFS Europe
15 CFS Europe Performance Chemicals • Acquired the manufacturing facility at Ravenna, Italy in 2011, which provides captive requirements of key raw materials i.e. Hydroquinone and Catechol • Capacity utilization achieved at 95% in FY19 • Considerable growth in EBITDA Margins & Profits due to favoura
Slide 17: CFS Brazil
16 CFS Brazil Shelf Life Solutions • Formed in 2013 for Blends and the production started in 2015 • Has an application lab in Indaiatuba – Brazil for customizing blends for Shelf-life Extension Solutions. • Handles distribution of bulk antioxidants and vanillin. Indaiatuba, Brazil • Key customer seg
Slide 18: CFS Wanglong
17 CFS Wanglong • CFS along with CFS Europe acquired 51% stake in Ningbo Wanglong Flavours in 2017 which had an operational plant since 2011 • This acquisition makes CFS the 3rd largest producer of Vanillin • Located in Grade 1 Industrial zone in the city of Yuyao Zhejiang Province, China. • It manu
Slide 19: CFS North America
18 CFS North America Shelf Life Solutions • Formed in October 2015 as a wholly owned subsidiary Market focus • Food - Bulk oils (synthetic antioxidants), Meat & poultry (natural antioxidants) Iowa, USA • Pet food - Rendering for pet food (natural antioxidants), Rendering for animal feed (synthetic a
Slide 20: Historical Financial Overview
19 HISTORICAL FINANCIAL OVERVIEW
Slide 21: Standalone Income Statement
20 Standalone Income Statement Particulars (INR Mn) FY17 FY18 FY19 9M-FY20 Operational Income 3,376 4,050 5,481 4,402 Total Expenses 3,156 3,996 5,182 3,945 EBITDA 220 54 299 457 EBITDA Margin 6.52% 1.33% 5.46% 10.38% Depreciation 116 91 91 213 Finance Cost 232 236 203 82 Other Income 129 92 137 84
Slide 22: Standalone Balance Sheet
21 Standalone Balance Sheet Particulars (INR Mn) FY18 FY19 H1-FY20 Particulars (INR Mn) FY18 FY19 H1-FY20 EQUITY 3,314 3,474 3,564 Non-Current Assets 1,597 2,735 3,456 a) Equity Share Capital 121 121 121 a) Property, Plant and Equipment 683 789 675 b) Other Equity 3,193 3,353 3,443 b) Capital Work I
Slide 23: Consolidated Income Statement
22 Consolidated Income Statement PARTICULARS (INR Mn) FY17 FY18 FY19 9M-FY20 Operational Income 5,469 7,228 8,922 7,563 Total Expenses 5,187 7,073 8,235 6,606 EBITDA 282 155 687 957 EBITDA Margin 5.16% 2.14% 7.70% 12.65% Depreciation 218 267 290 237 Finance Cost 269 284 367 279 Other Income 145 86 1
Slide 24: Consolidated Balance Sheet
23 Consolidated Balance Sheet PARTICULARS (INR Mn) FY18 FY19 H1-FY20 PARTICULARS (INR Mn) FY18 FY19 H1-FY20 EQUITY 4,334 4,303 4,527 Non-Current Assets 3,510 4,143 5,179 a) Equity Share Capital 121 121 121 a) Property, Plant and Equipment 2,066 2,055 2,053 b) Other Equity 3,591 3,588 3,699 b) Capita
Slide 25: Consolidated Financial Highlights
24 Consolidated Financial Highlights Operational Revenue (INR Mn) EBITDA (INR Mn) & EBITDA Margin (%) 10,000 1,200 18.19% 20.00% 8,922 8,000 7,228 900 15.00% 5,469 917 6,000 5,042 600 7.70% 10.00% 4,000 5.16% 300 2.14% 5.00% 2,000 687 282 - - 155 0.00% FY16* FY17 FY18 FY19 FY16* FY17 FY18 FY19 Net D
Slide 26: Capital Markets
25 Capital Markets 25 Share Price Data as on 31st December, 2019 60% 40% 20% 0% -20% -40% Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Camlin Fine Sciences BSE Sensex Price Data (31st December, 2019) INR Shareholding Pattern as on 31st December, 2019 Face Value
Slide 27: Disclaimer
26 Disclaimer 26 Camlin Fine Sciences 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 opinions are in
Slide 28: Thank You
27 Thank You