Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Investor Presentation (February 2018)
29 slides from Ifgl Refractories's investor presentation, February 2018
Slide 1: IFGL Refractories Limited Investor Presentation February 2018
IFGL Refractories Limited (Formerly IFGL Exports Limited) Investor Presentation February 2018
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited (formerly IFGL Exports Limited), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, a
Slide 3: Industry Overview
Industry Overview
Slide 4: Favorable Government Policies aiding Indian Steel
Favorable Government Policies aiding Indian Steel Anti-dumping duty Product support price (ADD) Applicable till Countries targeted (In range of) China PR, Japan, Hot rolled coil $ 474-561 Aug 2021 Korea RP, Russia, (width >600 mm) Brazil or Indonesia China PR, Japan, Plates $ 474-561 Aug 2021 Korea
Slide 5: Capacity expansion by Indian players
Capacity expansion by Indian players New Projects likely to be commissioned post FY20 Company Project Capacity (mtpa) Steady Production year Tata Steel Kalinganagar II 3 2021 SAIL Modernization 2.5 2021 JSPL Angul 2 2020 NMDC Nagamar 3 2021 Source: BofA MerrillLynch Report 5
Slide 6: India's market share in Global Steel production on the rise
India’s market share in Global Steel production on the rise 50% 50 49% 49 13% 13 2016 12% 12 2020 11 10 9 8 7% 7% 7% 7% 7% 7% 7 6% 6% 6% 6% 6% 6 5% 5 4 3 2 1 0 China India North America CIS Europe Other Asia Japan Others Source: BofA MerrillLynch Report 6
Slide 7: Impetus on Indian Steel sector
Impetus on Indian Steel sector Imposition of CVD Reduction Increased focus and Make in India and for 5 years on import 100% FDI through in Customs Duty on Budgetary preference to Locally of certain Stainless automatic route Plant & Equipment allocation towards produced Steel in steel products will i
Slide 8: Growing Opportunities in India a positive
Growing Opportunities in India a positive Estimated steel Capital consumption in airport Automotive Infrastructure Airports Goods building is likely to grow more than 20 per cent over next few years The Automotive The capital goods sector The infrastructure industry is forecasted accounts for 11 per
Slide 9: Global Steel Utilization rates expected to increase
Global Steel Utilization rates expected to increase Utilisation Rate (%) 89% 88% 88% 86% 86% 82% 81% 81% 83% 80% 78% 74% FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18E FY19E FY20E Source: BofA MerrillLynch Report 9
Slide 10: Global Crude Steel Capacities & Utilizations
Global Crude Steel Capacities & Utilizations MT Japan EU 27 Korea Year 2016 2017E 2018E 2016 2017E 2018E 2016 2017E 2018E Capacity(Crude steel) 130 129 128 217 218 218 86 86 86 Production(Crude steel) 105 107 107 160 163 166 75 72 71 YoY 0% 2% 0% -4% 2% 2% 2% -3% -1% Utilization 81% 83% 84% 74% 75%
Slide 11: Refractories Market to mirror Steel Demand
Refractories Market to mirror Steel Demand Global Refractories Market size $45.09 Bn $53.08 Bn Source: Industry Reports 2016 2021 Growing at CAGR of 3.32% >60% Iron & Steel to contribute in Product-Demand in Volume 135 Cr 42.5 Mn MT Domestic size of Refractories Market in 15kg/tonne Average consumpt
Slide 12: Our Performance
Our Performance
Slide 13: Corporate Structure
Corporate Structure… IFGL Refractories Limited (formerly IFGL Exports Limited) 3.604 Cr Equity Shares with a Face Value of Rs. 10 each Plants at Kalunga, Orissa, India + Plant at Kandla SEZ, Kandla, Gujarat, India 100% IFGL Worldwide Holdings Limited 100% 100% 100% Hofmann Monocon Group EI Ceramics
Slide 14: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars [Rs. Crs.] Q3 FY18 Q3 FY17^ Growth% 9M FY18^ 9M FY17^ Growth% Total Income^ 211.2 183.4 15.2% 609.6 560.1 8.8% Raw Material 107.3 86.9 307.2 264.9 Employee Expenses 31.5 30.7 95.0 92.5 Other Expenses 49.0 43.8 131.1 127.3 EBITDA 23.5 22.0 6.9% 76.3 75.4 1.2% ^
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars in [Rs. Crs.] Sept 17 Particulars in[Rs. Crs.] Sept 17 Assets Equity & Liabilities Non current Assets 506 Equity 724 Fixed Assets Property Plant & Equipment 121 Share Capital 36 Capital WIP 4 Other Equity 688 Goodwill on consolidation 117 Non controlling intere
Slide 16: Consolidated Financial Highlights as per IndAS
Consolidated Financial Highlights as per IndAS Total Income [Rs. Crs]^ EBITDA [Rs. Crs] 610 75 76 560 9MFY17 9MFY18 9MFY17 9MFY18 ^ Total Income is Net of Excise Duty EBITDA margin [%] Cash PAT [Rs. Crs] * 13.5 69 12.5 64 9MFY17 9MFY18 9MFY17 9MFY18 *Cash PAT Includes Profit after Tax, Deferred tax,
Slide 17: Standalone Financial Highlights as per IndAS
Standalone Financial Highlights as per IndAS Total Income [Rs. Crs]^ EBITDA [Rs. Crs] 322 52 269 40 9MFY17 9MFY18 9MFY17 9MFY18 ^ Total Income is Net of Excise Duty EBITDA margin [%] Cash PAT [Rs. Crs] 16.2 49 14.9 37 9MFY17 9MFY18 9MFY17 9MFY18 *Cash PAT Includes Profit after Tax, Deferred tax, Dep
Slide 18: Subsidiaries Performance
Subsidiaries Performance Monocon Group [GBP mn] EI Ceramics [$ mn] 18.9 12.9 12.5 17.9 2.1 1.9 1.8 1.5 1.3 1.2 1.1 1.0 Revenue EBITDA 9MFY17 9MFY18 9MFY17 9MFY18 PAT Hofmann Ceramic [Euro mn] 7.3 7.2 0.6 0.3 0.0 -0.2 9MFY17 9MFY18 18
Slide 19: Ongoing Capex in FY18 to boost performance
Ongoing Capex in FY18 to boost performance IFGL Odisha ~Rs. 10Cr Capex: To augment SGR & Zirconia Plant Nozzles manufacturing facilities IFGL Kandla ~Rs. 10Cr Capex: To increase the present capacity of ISO Plant products from 160,000 pcs p.a. to 240,000 pcs p.a. ~Euro 2mn Capex: Capacity Increase Ho
Slide 20: Consistently performing over the years
Consistently performing over the years… Particulars [Rs. Crs.] FY13 FY14 FY15 FY16 FY17 CAGR Total Income 676.8 781.0 793.5 722.1 768.3 6.4% Raw Material 352.3 378.0 406.1 365.2 362.0 Employee Expenses 98.7 110.0 117.9 119.6 125.4 Other Expenses 163.2 181.0 170.6 156.1 183.4 EBITDA 62.7 113.0 98.9 8
Slide 21: …with steady overseas subsidiaries performance…
…with steady overseas subsidiaries performance… Monocon Group [GBP mn] Hofmann Ceramic [Euro mn] EI Ceramics [$ mn] 8.6% 10.4% 15.9% 13.6% 5.1% EBITDA 5.1% FY13 FY17 FY13 FY17 FY13 FY17 10.3% 6.8% 25.5% 7.6% 5.1% 19.0% ROCE FY13 FY17 FY13 FY17 FY13 FY17 21
Slide 22: …to create sustainable value for Shareholders…
…to create sustainable value for Shareholders… Gross Debt (Rs. Crs.) Net Debt : Equity [x] Net Debt : EBITDA [x] 114.2 0.5 1.9 98.2 95.7 0.3 69.5 67.4 0.2 0.8 0.7 0.1 0.4 0.0 0.0 FY13 FY14 FY15 FY16 FY17* FY13 FY14 FY15 FY16 FY17* FY13 FY14 FY15 FY16 FY17* * Figures post Merger 22
Slide 23: …with consistent Payout
…with consistent Payout 20.0% 20.0% 17.5% 15.0% 15.0% FY13 FY14 FY15 FY16 FY17 Particulars (Rs.) FY13 FY14 FY15 FY16 FY17 Consolidated Book Value per Share 70.9 95.1 99.6 111.7 189.9 Consolidated Earning Per Share 7.9 18.3 15.1 12.1 12.6 Dividend Per Share 1.5 1.75 2.00 2.00 2.00 23
Slide 24: About Us
About Us
Slide 25: A Global MNC…
A Global MNC… Monocon , UK Hofmann Ceramic, Mono Ceramics Inc Germany Michigan, US Tianjin Monocon Tianjin, China E I Ceramics, Cincinnati, US IFGL, Kandla SEZ 25
Slide 26: …with proven management…
…with proven management… • Promoter of S K Bajoria Group based at Kolkata engaged in diversified business activities Mr. S.K. Bajoria - Chairman • Has been President of the Indian Chamber of Commerce, Director of West Bengal Industrial Development Corporation Ltd and Industrial Promotion & Investmen
Slide 27: …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 27
Slide 28: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry 28
Slide 29: For further information, please contact:
For further information, please contact: Company : Investor Relations Advisors : IFGL Refractories Ltd. (formerly IFGL Exports Ltd.) Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mr. Rajesh Agrawal Mr. Shogun Jain / Mr. Pratik R. Shah rajesh.agrawal@ifgl
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