Bodal Chemicals Limited · NSE:BODALCHEM
Bodal Chemicals — Q4 FY2019 Earnings Presentation
35 slides from Bodal Chemicals's earnings presentation, May 21, 2019
Slide 1: Bodal Chemicals Ltd. cover letter to exchanges
Bodal Chemicals Ltd. CO LOURS. INTl::laRATION, lNNCVATIDN. By Online Submission Sec/19-20/33 Date: 21/05/2019 To, To, The General Manager, The General Manager, BSE Ltd. National Stock Exchange of India Ltd. 1st Floor, New Trading Ring, Exchange Plaza, Rotunda Building, P.J. Tower, Plot no. C/1, G Bl
Slide 2: Quarterly Performance Q4FY2018-19 & FY2018-19
Perflormance Quarterly __ IL_ - ..• ,, - Q4FY2018-19 & FY2018-19 21st May 2019 Bodal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION.
Slide 3: Important Notice
Important Notice This presentation contains statements that contain "forward looking statements" including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Bodal Chemicals' future business developments and economic performa
Slide 4: Company Profile
Company Profile Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 3 Bodal Chemicals Ltd. COLOURS. INTEl:IRATlON. INNOVATION.
Slide 5: Bodal's History
Bodal' s History • Bodal was incorporated in 1989 by Mr. Suresh Patel, a first generation entrepreneur. • Bodal is today one of the globally leading, integrated Dyestuff companies from India. • Company commenced its operations by setting up a small Vinyl Sulphone plant at Vatva - Ahmedabad (Gujarat)
Slide 6: Bodal's History
Bodal' s History • Bodal has strong presence across the globe. At present Bodal exports around 45% of its sales to 150+ customers in more than 45 countries. • Company has four subsidiaries: 1. SP S Processors Pvt. Ltd. (SPS) - 70% holding 2. Trion Chemicals Pvt. Ltd. (TCPL)- 59% holding 3. Bodal Che
Slide 7: Journey
Journey 2016 Amalgamation: Notes: 2006 Bodal Agrotech, LABSA, Unit X Units are manufacturing sites Listed on BSE-reverse merger Zero Discharge Facility Unit Nos. are as per current numbering of sites with Dintex Dye Chem (Unit I) 2017 2006 Acquired 70%: SPS Processors, Dye lnt'diates, Zero Acquired
Slide 8: Manufacturing Value Chain
Manufacturing Value Chain - Input Materials - part/full in-house Input Materials - external Badal Chemicals Products Water Vinyl Sulphone + Derivatives Reactive Dyes Textiles Para Nitro Aniline Ice H Acid Beta Naphthol Steam Sulphuric Acid DASA Power Acid Dyes Leather Chloro Sulphonic Acid ' Sulphur
Slide 9: Full year Performance
Full year Performance Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 8
Slide 10: Highlights - FY19 (YoY)
Highlights - FY 19 (Yo Y) Operational Highlights Our total production for FY19 grew by 6% yoy. Production for Dyestuff, Dye Intermediates and Basic Chemicals grew by 21 %, 6% and 5% yoy respectively. ~ Consistently maintained EBITDA margins of around 18% ~ Exports for FY19 are up by 71 % yoy to Rs 5
Slide 11: Financial - Standalone basis
Financial -Standalone basis (Rs. million) Particulars FY19 FY18 YoY (%) Revenue from operations (Net of Excise Duty) 13,794 11,210 23% Other Income 147 119 24% Total Income 13,940 11,329 23% Raw Materials Corisurned 8,757 7,017 25% Employee benefits 592 447 32% Other expenses 2,115 1,780 19% Total e
Slide 12: Revenue Breakup (Standalone)
Revenue Breakup (Standalone) FY19 FY18 Others Others 5% 4% Dye Intermediates 48% Dye Intermediates Dyestuff 53% 32% FY19 FY18 Export 44% Domestic 56% 11 Note: Sale of products are net of excise duty & GST Bodal Chemicals Ltd. COLOURS. INTEl3RATlON. INNOVATION.
Slide 13: Financial Highlights - Standalone
Financial Highlights- Standalone Total Income (Rs. Million) EBITDA *(Rs.Million) and Margin(%) 18.4% 11,329 2,085 FY18 FY19 FY18 FY19 Profit Before Tax (Rs. Million) and Margin (%) Profit After Tax (Rs. Million) and Margin (%) 13 % Growth 15 % Growth 17.0% 11.2% 1,926 1,268 FY18 FY19 FY18 FY19 Note:
Slide 14: Quarterly Performance
Quarterly Performance Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 13
Slide 15: Highlights - Q4 FY19 (YoY)
Highlights - Q4 FY 19 (Yo Y) Operational Highlights During Q4FY19, the trial production for Thionyl Chloride (TC) having capacity of 36,000 tons per year has started. Also, we have added dyestuff (powder) capacity of 6,000 MTPA during the quarter. Dyestuffs and Dye intermediates production grew by 1
Slide 16: Financial - Standalone basis
Financial-Standalone basis (Rs. million) Particulars Q4FY19 Q4FY18 YoY (%) Revenue from operations 3,206 2,824 14% Other Income 81 30 167% Total Income 3,288 2,855 15% Raw Materials Corisurned 2,147 1,752 23% Employee Benefits 106 121 -12% Other expenses 520 484 7% Total expenses 2,773 2,357 18% Ear
Slide 17: Revenue Breakup (Standalone)
Revenue Breakup Breakup (Standalone) Q4FY2019 Q4FY2018 Others Others Basic Chemicals 1% 5% 14% Basic Chemicals 13% Dye Dye Intermediates Intermediates 48% 46% Q4FY2019 Q4FY2018 Export 43% Domestic 57% Domestic 62% 16 Bodal Chemicals Ltd. COLOURS. INTEl3RATlON. INNOVATION.
Slide 18: Financial Highlights - Standalone
Financial Highlights- Standalone Total Income (Rs. Million) EBITDA * (Rs. Million) and Margin(%) 15 % Growth 3% Growth 17.4% 498 2,855 Q4FY18 Q4FY19 Q4FY18 Q4FY19 Profit Before Tax (Rs. Million) and Margin (%) Profit After Tax** (Rs. Million) and Margin(%) 6% Growth 1% Growth 10.3% 9.0% 418 294 Q4FY
Slide 19: Financials of Subsidiaries & Consolidated Numbers
Financials of Subsidiaries & Consolidated Numbers Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 18
Slide 20: Financials of Subsidiaries & Consolidated Numbers
Financials of Subsidiaries & Consolidated Numbers Subsidiaries (Rs. million) SPS & Trion Q4FY19 FY19 Particulars SPS Trion SPS Trion Total Income 269 109 810 168 EBITDA 18 0 55 (19) PAT 17 (18) 16 (80) Consolidated Quarterly Yearly Particulars Q4FY19 Q4FY18 FY19 FY18 Operational Revenue 3,443 2,932
Slide 21: Balance Sheet Analysis
Balance Sheet Analysis Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 20
Slide 22: Leverage - Standalone
Leverage -Standalone Particulars (Rs. Million) 31-Mar-19 31-Mar-18 Net Debt / Equity (x) Short Term Borrowings 655 840 O.09X Long Term Borrowings 8 8 Total Debt 663 848 0.06X Less: Cash & Cash Equivalents 142 186 Net Debt I (Net Cash) 521 662 Reduction in Debt 141 Mar-18 Mar-19 Net Worth 8,352 7,020
Slide 23: Working Capital Analysis - Standalone
Working Capital Analysis - Standalone (Rs. Million) Working Capital 31-Mar-19 31-Mar-18 i) Inventories 1,851 I 1,121 ii) Trade Receivables 2,204 2,723 iii)Trade Payables 1,926 1,482 Net Working Capital (i+ii-iii) 2,130 2,362 Net working capital days 87 75 58 56 49 51 47 36 Inventories Trade Receivab
Slide 24: Management Comments
Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 23 Bodal Chemicals Ltd. COLOURS. INTEl:IRATlON. INNOVATION.
Slide 25: Management Comments on Results & Updates (1 of 2)
Management Comments on Results & Updates (lof 2) Total production during the quarter remained flat yoy at 60,145 MT in Q4FY19. The company achieved 14% growth in revenue YoY basis while EBITDA including other income grew by 3% YoY in Q4FY19. EBITDA margins stood lower at 15.6% mainly due to inventor
Slide 26: Management Comments on Results (2 of 2)
Management Comments on Results (2of2) During the quarter, the trial production for Thionyl Chloride (TC) capacity of 36,000 tons per year has started. Also, we have added dyestuff (powder) capacity of 6,000 MTPA during the quarter and our total dyestuff (powder) capacity now stands at 35,000MTPA. Su
Slide 27: Expansions and Acquisition
Expansions and Acquisition Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 26 Bodal Chemicals Ltd. COLOURS. INTEl:IRATlON. INNOVATION.
Slide 28: Expansions and Acquisition - Towards the next phase of growth
Expansions and Acquisition - Towards the next phase of growth Bodal Chemicals Ltd (Bodal) is proud to announce its next phase of growth towards more integration of business model, diversification into new products, and addition of marketing base. The board of directors of the company has approved di
Slide 29: Expansions and Acquisition - Towards the next phase of growth
Expansions and Acquisition - Towards the next phase of growth Bodal has zero long term debt and strong balance-sheet with excellent track record both in financial performance & execution of projects. It has great potential to grow from the current levels so its seizing the excellent business opportu
Slide 30: Expansions and Acquisition - Towards the next phase of growth
Expansions and Acquisition - Towards the next phase of growth Total financial outlay for Chlor Alkali, Suphuric Acid and Dyestuff projects will be about Rs 11.7bn (net of GST) over a period of ,__,36 months. Total acquisition cost of Sener Boya will be -Rs 320mn. We have already purchased the land a
Slide 31: Conference call to discuss Q4 FY19 & FY19 Results & Outlook
Conference call to discuss Q4 FY 19 & FY 19 Results & Outlook Management will discuss results of Q4 & FYl 9 and Outlook on a conference call on 21st May 2019 at 5 PM India time. The conference call dial-in numbers are: Primary number: +91226280 1271/+91 22 7115 8172 Local access number: +9170456 712
Slide 32: Thank you
Thank you Badal Chemicals Ltd. For any queries, please contact: COLOURS. INTEGRATION. INNOVATION. Meet Chande Mayur Padhya IR, Bod al Chemicals Ltd. CFO, Bod al Chemicals Ltd. ir@bodal.com mayur@bodal.com Ph: +91 79 2583 5437 +91- 99099 41324 31
Slide 33: Annexures
Annexures Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 32 Bodal Chemicals Ltd. COLOURS. INTEl:IRATlON. INNOVATION.
Slide 34: Sale of products - by sub-segment and geography (Standalone)
Sale of products - by sub-segment and geography (Standalone) Domestic 62% 1,585 57% 23% Export 1,177 38% 1,202 43% -2% Total 3,127 100% 2,787 100% 12.2% Dye Intermediates 1,492 48% 1,269 46% 17.6% Dyestuff 1,155 37% 1,017 36% 13.6% Basic Chemicals 430 14% 353 13% 21.8% Others 50 2% 148 5% -66.2% Tot
Slide 35: Production Quantity Metric Tons (MT)
Production Quantity Metric Tons (MT) Dyestuff 4,886 4,116 19% Dyes Intermediates 6,342 5,894 8% Basic Chemicals 48,917 50,081 -2% Dyestuff 18,588 15,412 21% Dyes Intermediates 23,674 22,343 6% Basic Chemicals 188,534 179,544 5% 34 Bodal Chemicals Ltd. COLCLJRS, INTEBRATIDN, INMDVATION. I