Navin Fluorine International Limited · NSE:NAVINFLUOR
Navin Fluorine International — Q2 FY2023 Earnings Presentation
34 slides from Navin Fluorine International's earnings presentation, Dec 27, 2022
Slide 1: Intimation of Schedule of Analyst / Institutional Investor Meets
December 27, 2022 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (East), Mumbai 400001 Mumbai 400051 Scrip Code: 532504 Symbol: NAVINFLUOR EQ Dear Sir/Madam, Subject: Intimation of Schedule of Analyst /
Slide 2: Investor Presentation - October 2022
Investor Presentation - October 2022
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Navin Fluorine International Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe
Slide 4: Consistent Growth in Q2FY23
Ny e PADMANABF MAFATLAL, GROUP Consistent Growth in Q2FY23
Slide 5: Business Highlights
Business units Redefined in H1FY23 HPP CDMO Specialty Refrigerant Gas + Specialty Inorganic Fluorides CRAMS Chemicals + HPP Business Highlights ▪ Implemented new organizational structure – 3 Business Units led by 3 Operating CEOs with full P&L responsibilities ▪ NFASL has commenced commercial produc
Slide 6: Consolidated H1FY23
Delivered strong Growth with Healthy margins Operating Revenue +23% Rs. 816.7 crores Margins Operating EBITDA PBT 23.6% 19.4% YoY Highlights Operating EBITDA Consolidated -72 Bps -120 Bps + 19% H1FY23 Rs. 193.0 crores ✓ Margins at NFIL maintained at ~25% ✓ Margins at consolidated level impacted Oper
Slide 7: Consolidated Q2FY23
Sustainable Growth with Healthy margins Operating Revenue +24% Rs. 419.2 crores Margins Operating EBITDA PBT 22.4% 17.2% YoY Highlights Operating EBITDA Consolidated -245 Bps -401 Bps + 11% Q2FY23 Rs. 93.8 crores ✓ Margins at NFIL maintained at ~25% ✓ Margins at consolidated level impacted Operating
Slide 8: H1FY23 - Growth driven by Specialty & HPP
H1FY23 - Growth driven by Specialty & HPP (Rs. Crs) Specialty HPP* CDMO +38.9% +54.7% -34.4% 353 363 149 254 235 98 H1FY22 H1FY23 H1FY22 H1FY23 H1FY22 H1FY23 Specialty Business continues to deliver Revenues from NFASL Business prospects strong performance started in Q2FY23 continue to look strong ba
Slide 9: Business Vertical - Specialty Chemicals
Business Vertical - Specialty Chemicals Revenues (Rs. Crs) Q2FY23 Highlights +46% 177 122 Another quarter of record revenue Strong pipeline of growth opportunities driven by Q2FY22 Q2FY23 principles of 3P : Product, Platform & Partnership 44% Two new plants in Dahej scheduled to start in Q3FY23 56%
Slide 10: Business Vertical - HPP
Business Vertical - HPP Revenues (Rs. Crs) Q2FY23 Highlights +76% 211* Higher sales in India and International markets 120 Revenues from the new plant in Dahej started in Q2FY22 Q2FY23 Q2FY23 R32 production to start from Q1FY24 46% Q2FY23 54% India International *Includes revenue from NFASL 9
Slide 11: Business Vertical - CDMO
Business Vertical - CDMO Revenues (Rs. Crs) Q2FY23 Highlights -53% 82 c-GMP-3 plant capacity expansion work on track to be commissioned in Q3FY23 39 Q2FY22 Q2FY23 Successful completion of plant audits by two pharma innovators Received PO of USD 16 Mn to supply for late-stage clinical Q2FY23 trial 10
Slide 12: Financial Performance
Ny e PADMANABF MAFATLAL, GROUP Financial Performance
Slide 13: Standalone Profitability Statement
Standalone Profitability Statement Particulars (Rs. Crs.) Q2 FY23 Q2 FY22 Y-o-Y Change % Q1 FY23 Q-o-Q Change% H1FY23 H1FY22 Y-o-Y Change % Net Revenue from Operations 366.4 324.4 13% 386.8 -5% 753.2 638.3 18% Raw Material 161.7 144.7 175.9 337.6 286.3 Employee Expenses 46.9 37.2 44.0 90.9 73.4 Othe
Slide 14: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crs.) 30-Sep-22 31-Mar-22 EQUITY AND LIABILITIES (Rs. Crs.) 30-Sep-22 31-Mar-22 Non-current assets 1248.9 1023.6 EQUITY 1978.1 1864.2 Property, Plant and Equipment 368.5 372.9 Equity Share Capital 9.9 9.9 Capital work-in-progress 61.7 25.9 Other Equity 1968.1 185
Slide 15: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (Rs Crs.) 30-Sep-22 31-Mar-22 (A) Cash flow from operating activities Profit before tax 188.7 347.0 Adjustments for noncash items 5.3 17.0 Operating profit before working capital changes 194.0 364.0 Working capital adjustments -34.8 -46.7 Cash flows generate
Slide 16: Consolidated Profitability Statement
Consolidated Profitability Statement Particulars (Rs. Crs.) Q2 FY23 Q2 FY22 Y-o-Y Change % Q1 FY23 Q-o-Q Change % H1FY23 H1FY22 Y-o-Y Change % Net Revenue from Operations 419.2 339.0 24% 397.5 5% 816.7 665.5 23% Raw Material 183.6 152.4 182.3 365.9 300.7 Employee Expenses 57.2 43.6 50.7 107.9 87.4 O
Slide 17: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crs.) 30-Sep-22 31-Mar-22 EQUITY AND LIABILITIES (Rs. Crs.) 30-Sep-22 31-Mar-22 Non-current assets 1710.6 1366.2 EQUITY 1944.8 1844.2 Property, Plant and Equipment 888.1 377.5 Equity Share Capital 9.9 9.9 Capital work-in-progress 569.6 742.1 Other Equity 1934.9
Slide 18: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (Rs Crs.) 30-Sep-22 31-Mar-22 (A) Cash flow from operating activities Profit before tax 180.4 344.2 Adjustments for noncash items 15.1 19.0 Operating profit before working capital changes 195.5 363.2 Working capital adjustments -190.4 -210.4 Cash flows gen
Slide 19: NFIL at glance
Ny e PADMANABF MAFATLAL, GROUP NFIL at glance
Slide 20: NFIL at glance
NFIL at glance Manufacturing plants strategically located closer to major ports Strong Clientele base in India & abroad, including Global Innovators One of Largest Integrated Specialty Fluorochemical Company in India Over 50 years of expertise in Handling Fluorine Built “India’s only plant with high
Slide 21: Integrated Business Model
Integrated Business Model • Chemical Complex at Surat spread over • Backward integration for Raw material 135 acres, houses Refrigerant, Inorganic through 25% JV partner in the only Fluorides & Specialty Chemicals Plants Fluorspar beneficiation company in India • cGMP Compliant facility for CDMO in
Slide 22: Our Delivery
Our Delivery Revenues (Rs. Crs) Revenue Contribution (%) FY2011 FY2022 1,404 Commenced Specialty Speciality Chemicals 27% 40% 11.3 % Chemicals in 2000 431 11Y CAGR FY11 FY22 Inorganic Fluorides & Refrigerants (HPP) HPP 73% 39% Net Profit (Rs. Crs) are traditional business since 1967 266 12.6 % Comme
Slide 23: Reinforcement of Trust
Reinforcement of Trust Delivering on the 3P Strategy (Product, Platform and Partnerships) through New Capex Programs $410 Mn Multi Year Contract in High Beginning of New Partnership in agrochemicals Performance Product (HPP) backed by multi year supply contract Launch of new products in Manufacturin
Slide 24: HPP Manufacturing Plant inaugurated
HPP Manufacturing Plant inaugurated Gujarat CM and Honeywell inaugurated HPP manufacturing plant of NFASL. Navin Fluorine had entered into $410 million contract with Honeywell International Inc. for manufacture and supply of a High-Performance Product (HPP) in the fluorochemical space Capex funded R
Slide 25: Journey of Transformation continues…
Core Business Strategy Valuable and Presence into High- Customer’s clear Dependable demand specialized choice - Strong pillar Fluorochemical product basket of Partnership Company Increase share of CDMO & Innovation & Change growth Investment In MPP (Multi Specialty which now - Moving into the new Hi
Slide 26: ESG represents the cornerstone of our business
ESG represents the cornerstone of our business
Slide 27: Our Approach to Sustainability
Our Approach to Sustainability Approach Environment Social Governance ✓ Robust Internal Controls ✓ Employees ✓ Controlled Growth ✓ Building resilience towards ✓ Customer and Vendors ✓ Balanced Approach climate change ✓ Community ✓ Board of Directors ✓ Reduce our impact on environment and nature ✓ Tr
Slide 28: Environmental Commitment
Environmental Commitment Systems driven Minimising carbon footprint Audit discipline Environment Approach Continues to invest in environmental Outlined a policy to progressively reduce Addressed the HSE subject through a management systems, coupled with energy and greenhouse emissions documental and
Slide 29: Social Programme
Social Programme Social Programme Social Approach ✓ Secured the integrity of processes and ✓ Segregated plants into zones with separate practices through a Job Hazard Analysis entry and exit points to ease in contact tracing ‘S’ comprises the role of coupled with Standard Operating Procedures. and c
Slide 30: Governance Best Practice
Governance Best Practice Governance Programme Composition of Committees Out of three Members of Nomination Structured policies and processes and Remuneration Committee, two addressed investor grievances were Independent and one Non- Reported NO Executive; ✓ Defaults for repayments, creditors, Accept
Slide 31: Board of Directors
Diversity of thought and experience Mr. Vishad P. Mafatlal Mr. Mohan M. Nambiar Mr. Pradip N. Kapadia Mr. Sunil S. Lalbhai Chairman Non-Executive Non-Independent Director Independent Director Independent Director He is an industrialist having varied He has a vast experience of over 59 years. He He i
Slide 32: Balanced Board with Experience and Expertise
Balanced Board with Experience and Expertise Board Demographics meetings Board Independence during Highly FY2022 engaged 9 of 12 Board 17 Directors actively involved in NFIL’s 75% are Board Committee strategic transformation Independent 8 66 years median Board director's age Highly Experienced Board
Slide 33: Deepen respect for contribution to Societal Goals
Deepen respect for contribution to Societal Goals 5.28 Crores CHILD CARE Total CSR expenditure for the year ended March 31,2022 NFIL collaborated with Salaam Balak Trust, an NGO addressing the needs of street Touched and improved approx. 23,613 lives through community children in Mumbai, covering ch
Slide 34: Thank You Note
Thank You Note For further information, please contact: Company : Investor Relations Advisors : Navin Fluorine International Ltd. Orient Capital (a division of Link Group) CIN : L24110MH1998PLC115499 Ms. Payal Dave +91 9819916314 Partha Roychowdhury payal.dave@linkintime.co.in Chief Executive Office
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