National Fertilizers Ltd. · NSE:NFL
National Fertilizers — FY2021-22 Earnings Presentation
58 slides from National Fertilizers's earnings presentation, May 27, 2022
Slide 1: Financial Results FY 2021-22
Financial Results FY 2021‐22 National Fertilizers Limited
Slide 2: Brief Overview
BRIEF OVERVIEW Introduction • Incorporated on 23rd August, 1974. • Share Capital details as on 31.03.2022: Authorized capital : Rs. 1,000.00 crore. Paid up capital : Rs. 490.58 crore. Net-worth : Rs. 2281.54 crore. Shareholding Pattern as on 31.03.2022: Government of India 74.71% Financial
Slide 3: Brief on Urea Manufacturing Activities
BRIEF ON UREA MANUFACTURING ACTIVITIES UREA Vijaipur‐I Vijaipur‐II Bathinda Panipat Nangal ANNUAL CAPACITY (Lakhs Metric Ton) – 8.646 8.646 5.115 5.115 4.785 32.31 LMT (Revised Assessed Capacity) Annual Capacity after Urea Capacity 9.999 10.662 5.115 5.115 4.785 Enhancement Projects at Vijaipur‐I &
Slide 4: Brief on Other Manufacturing Activities
BRIEF ON OTHER MANUFACTURING ACTIVITIES Other Manufacturing:‐ (Industrial Products, Bentonite Sulphur Bio‐Fertilizers etc.) : S. No. Products Located in No. of Annual Capacity of each streams stream (MT) Industrial Products 1. Nitric acid Nangal 2* 91410 2. Ammonium Nitrate Nangal 1 118800 3. Sodium
Slide 5: Plant Locations, Marketing Territory, Port handling & JV
Plant Locations, Marketing Territory, Port handling &JV 5
Slide 6: 5 Years' Growth Story
V7 NEL 5 YEARS’ GROWTH STORY
Slide 7: Sale of All Products
Sale of All Products SL .No. Particulars 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 1 Sale of Urea (LMT) 39.16 38.98 36.08 39.65 34.58 2 Bio‐Fertilizers (LMT) 0.005 0.006 0.007 0.005 ‐ 3 Bentonite Sulphur (LMT) ‐ 0.07 0.08 0.20 0.18 4a Sale of Traded (Fertilizers) 1. DAP (LMT) 3.28 5.04 6.85 5.09 3.53
Slide 8: Production of Urea
Production of Urea (LMT) Plants 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 NANGAL 5.43 5.41 5.75 5.47 5.32 PANIPAT 5.60 5.74 5.52 5.83 4.68 BATHINDA 5.63 5.84 5.63 5.77 5.28 VIJAIPUR- I 10.50 10.28 9.84 9.66 10.41 VIJAIPUR-II 10.95 11.32 10.53 11.26 9.54 TOTAL 38.10 38.59 37.27 37.99 35.23 Capacity uti
Slide 9: On-Stream Days
On-Stream Days (No. of Days) 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 Units Annual Annual Annual Annual Annual 334 331 349 336 331 NANGAL 342 347 335 356 286 PANIPAT 342 355 344 354 325 BATHINDA 346 343 330 325 354 VIJAIPUR- I 320 348 329 348 296 VIJAIPUR-II 9
Slide 10: Energy Consumption (Gcal/MT)
ENERGY CONSUMPTION (GCAL/MT) Units FY 2017‐18 FY 2018‐19 FY 2019‐20 FY 2020‐21 FY 2021‐22 Nangal 6.819 6.728 6.722 6.750 6.523 Panipat 6.762 6.700 6.956 6.877 7.048 Bathinda 6.859 6.719 6.864 6.835 6.559 Vijaipur I 5.753 5.885 5.950 5.782 5.817 Vijaipur II 5.372 5.438 5.527 5.482 5.736 10
Slide 11: Performance at a Glance
PERFORMANCE AT A GLANCE SL .No. Particulars 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 PHYSICAL PERFORMANCE 1 Production (Urea) (LMT) 38.10 38.59 37.27 37.99 35.23 2 Capacity Utilization w.r.t. RAC (Urea %) 117.94 119.46 115.35 117.59 109.06 3 Sale of Urea (LMT) 39.16 38.98 36.08 39.65 35.23 4 Sale of
Slide 12: Financial Performance at a Glance
FINANCIAL PERFORMANCE AT A GLANCE (Rs. crore) SL. No. Particulars 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 15 Net Fixed Assets 4144 4127 4382 4478 4368 16 Working Capital 981 1144 706 552 552 17 Long Term Borrowings 171 341 769 752 734 Short Term Loan 2695 4670 6119 1135 2435 Special Banking Arrangem
Slide 13: Sale of All Fertilizers (Quantity) LMT
Sale of All Fertilizers (Quantity ) LMT Imported 60 Fertilizers, 9.27 Compost, Bio‐ 9.10 7.47 Fertilizers & OTG 50 Urea (RFCL) 6.27 10.45 3.69 3.93 3.70 11.85 40 8.86 Imported Urea 30 (Govt. A/c) 20 39.16 38.98 36.08 39.65 34.58 Urea (Own) 10 0 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 Year 2017‐
Slide 14: Sale of Urea (Quantity) LMT
Sale of Urea (Own + RFCL+ Imported (Govt. a/c) (Quantity ) LMT 55 Imported 50 Urea (Govt 45 10.45 A/c) 3.70 11.85 8.86 40 Urea (RFCL) 35 3.69 30 25 39.16 38.98 39.65 Urea (Own) 36.08 34.58 20 15 10 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 Year 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 Total (LMT)
Slide 15: Sale value of All Fertilizers
Sale value of All Fertilizers (Rs. crore) 16000 14826.20 15000 14000 13000 12555.9 Sale Values in ₹ Crore 11976.53 12000 11190.72 11000 10000 9000 8733.61 8000 7000 6000 5000 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 Period CAGR of 13.95 % during 5 Years. 15
Slide 16: EBITDA
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) (Rs. crore) 1200 1013.24 1000 913.62 858.65 Value in Rs crore 800 600 578.00 535.86 400 200 0 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 Period 16
Slide 17: EBITDA to Gross Sale %
EBITDA TO GROSS SALE % 9% 8.30% 7.93% 8% 7% 6.72% 6.03% 6% Value in % 5% 4% 3.70% 3% 2% 1% 0% FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 Period 17
Slide 18: Subsidy accrued vs Subsidy outstanding
Subsidy accrued V/S Subsidy outstanding (Rs. crore) 12000 10183.59 10000 Subsidy 8295.68 8111.36 Claimed Value in Rs. crore 8000 6897.42 5934.55 5774.97 Subsidy 6000 5110.17 Outstanding 4000 3501.34 2634.08 2162.69 2000 0 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 Period 18
Slide 19: Finance cost
Finance cost (Rs. crore) 500 405.48 400 Value in Rs crore 316.36 291.23 300 189.57 200 132.96 100 1 0 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 Period 19
Slide 20: Profit Before Tax (PBT)
Profit Before Tax (PBT) (Rs. crore) 500 463.37 400 343.46 334.83 300 Value in Rs. crore 200 144.82 100 0 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 ‐100 ‐200 ‐300 ‐252.71 Period 20
Slide 21: Profit After Tax (PAT)
Profit After Tax (PAT) (Rs. crore) 400 298.45 300 249.63 212.77 200 Value in Rs crore 108.20 100 0 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 ‐100 ‐200 ‐171.01 Period 21
Slide 22: Earning Per Share (EPS)
Earning Per Share (EPS) (Rs. / Share) 8 6.08 6 5.09 4.34 4 Rs per share 2.21 2 0 FY 17‐18 2018‐19 2019‐20 2020‐21 2021‐22 ‐2 ‐4 ‐3.49 22
Slide 23: Short Term Borrowings
Short Term Borrowings (Rs. crore) 8000 7333.37 7000 6122 6000 Value in Rs. Crore 5000 4000 2890 3000 2435.4 2000 1135.11 1000 0 FY 17‐18 FY 18‐19 FY 19‐20 FY 20‐21 FY 21‐22 Period 23
Slide 24: Performance for the FY 2021-22
PERFORMANCE FOR THE FY 2021‐22 [The Audited Annual Results for FY 2021‐22 approved by Board in its meeting held on 24.05.2022] 24
Slide 25: Performance Highlights FY 2021-22
PERFORMANCE HIGHLIGHTS FY 2021‐22 1. Ever highest revenue from operations Rs. 15857.09 crore [CPLY Rs. 11905.66 crore] i.e. increase of Rs 3951.43 crore . 2. The Revenue from other than own Manufactured Urea was at Rs 5285.13 crore, 33.3% of total revenue of Rs 15857.09 crore. 3. The Revenue from ow
Slide 26: Overall Performance
OVERALL PERFORMANCE (Rs. crore) Increase/(Decrease) Particulars FY 2021‐22 CPLY Rs. Crore % Total Revenue From Operations 15857.09 11905.66 3951.43 33 Total Expenses 15279.09 10992.04 4287.05 39 Earnings before interest, depreciation and tax 578.00 913.62 (335.62) (37) (EBITDA) EBITDA (excluding Def
Slide 27: Sale of Fertilizers
Sale of Fertilizers FY 2021‐22 FY 2020‐21 Increase/(Decrease) Particulars LMT LMT LMT % (A) Sale of Manufactured Fertilizers Urea 34.58 39.65 (5.07) (13) Bio Fertilizers and Bentonite 0.18 0.21 (0.03) (14) Sulphur Sub Total (A) 34.76 39.86 (5.10) (13) (B) Sale of Traded Fertilizers Urea (RFCL) 3.69
Slide 28: Production & Purchase of Fertilizers
Production & Purchase of Fertilizers LMT FY 2021‐22 FY 2020‐21 Increase/(Decrease) Particulars LMT LMT LMT % (A) Production Urea 35.23 37.99 (2.76) (7) Bio Fertilizers and Bentonite 0.18 0.15 0.03 20 Sulphur Total Production (A) 35.41 38.14 (2.73) (7) (B) Purchase Imported Urea (Govt. A/c) 9.77 9.98
Slide 29: Zone wise sale of urea
Zone wise sale of urea (Including Imported Urea on Govt. A/c & RFCL Urea) (LMT) Zonal Offices FY 2021-22 CPLY Increase/ (Decrease) Chandigarh Zone 18.16 19.57 (1.41) Bhopal Zone 13.48 12.77 0.71 Lucknow Zone 9.33 13.17 (3.84) Hyderabad Zone 6.16 4.59 1.57 TOTAL 47.13 50.10 (2.97) 29
Slide 30: Details of expenses for the FY 2021-22
Details of expenses for the FY 2021‐22 30
Slide 31: Details of Expenses for FY 21-22
Details of Expenses (excluding depreciation and finance cost) for FY 21‐22 Increase/ Particulars FY 2021‐22 CPLY Remarks (Decrease) Primarily due to technical issues at Panipat and Production of urea (LMT) 35.23 37.99 (2.76) VP‐II lower by 2.87 LMT. Sale of urea (LMT) 34.58 39.65 (5.07) (Rs. Crore)
Slide 32: Urea Production
UREA PRODUCTION LMT Variance with Units FY 2021‐22 FY 2020‐21 CPLY Nangal 5.32 5.47 (0.15) Panipat 4.68 5.83 (1.15) Bathinda 5.28 5.77 (0.49) Vijaipur I 10.41 9.66 0.75 Vijaipur II 9.54 11.26 (1.72) Total 35.23 37.99 (2.76) Production of urea during FY 2021‐22 as compared to CPLY is mainly due to sh
Slide 33: On-Stream Days
On‐Stream Days LMT Variance with Units FY 2021‐22 FY 2020‐21 CPLY Nangal 331 336 (5) Panipat 286 356 (70) Bathinda 325 354 (29) Vijaipur I 354 325 29 Vijaipur II 296 348 (52) Variance in on‐Stream days is due to shutdown at units for commissioning of Energy Saving Schemes and replacement of critical
Slide 34: Energy Consumption
ENERGY CONSUMPTION (GCAL/MT OF UREA) Energy Norms Actual Energy Units FY 2021‐22* FY 2020‐21** FY 2021‐22 FY 2020‐21 Nangal 6.500 6.768 6.523 6.750 Panipat 6.500 7.022 7.048 6.877 Bathinda 6.500 6.941 6.559 6.835 Vijaipur I 5.500 5.682 5.817 5.782 Vijaipur II 5.500 5.500 5.736 5.482 *Target Energy n
Slide 35: Break up of Total Finance Cost for FY 2021-22
BREAK UP OF TOTAL FINANCE COST FOR FY 2021‐22 (Rs. crore) Increase/ Particulars FY 2021‐22 CPLY (Decrease) Interest on Long Term Loans (A) 34.11 10.39 23.72 Interest on working capital Loans 51.16 204.88 (153.72) Other borrowing costs (CP related charges) 0.95 2.68 (1.73) Other Interest (on security
Slide 36: Analysis of Finance Cost on Working Capital
ANALYSIS OF FINANCE COST ON WORKING CAPITAL FOR FY 2021‐22 Rs. crore Increase/ Particulars FY 2021‐22 CPLY (Decrease) Interest on working capital Loans 51.16 204.88 (153.72) Interest on Trading Activities 38.39 54.23 (15.84) Other borrowing costs (CP related 0.95 2.68 (1.73) charges) Total finance c
Slide 37: Profit Variance Analysis for FY 2021-22
PROFIT VARIANCE ANALYSIS FOR FY 2021‐22 Company has earned profit before tax of Rs 144.82 crore during the year ended March’2022 as against profit before tax of Rs 343.46 crore during CPLY i.e. decrease in profit by Rs 198.64 crore. PBT has decreased mainly due to: 1. One time subsidy of Rs 167.55 o
Slide 38: Key Financial Ratios
KEY FINANCIAL RATIOS As on As on S. No. Particulars Unit 31st March 31st March 2022 2021 1 Earning Per Share (Rs. 10/‐ each) Rs/Share 2.21 5.09 2 Return on Equity (ROE) % 4.86 12.20 3 Return on Capital Employed % 5.06 15.59 4 Current Ratio No. of Times 1.06:1 1.12:1 5 Debt‐Equity Ratio No. of Times
Slide 39: Performance for the Quarter March-2022
PERFORMANCE FOR THE QUARTER MARCH‐2022 [The Quarterly Results for March 2022 approved by Board in its meeting held on 24.05.2022] 39
Slide 40: Performance Highlights Qtr Ended March 2022
Performance Highlights Qtr Ended March 2022 (Rs. crore) 1.Revenue from operations Rs. 4442.29 crore [CPLY Rs. 2961.17 crore] i.e. a increase of Rs. 1481.12 crore. 2.The Revenue from other than own Manufactured Urea was at Rs 924.98 crore, 20.8% of total revenue of Rs 4442.29 crore. 3.The Revenue fro
Slide 41: Overall Performance
OVERALL PERFORMANCE (Rs. crore) Increase/(Decrease) Particulars Qtr. Mar‐22 CPLY Rs.Crore % Total Revenue From Operations 4442.29 2961.17 1481.12 50 Total Expenses 4263.05 2846.49 1416.56 50 Earnings before interest, depreciation and tax 179.24 114.68 64.56 56 (EBITDA) EBITDA (excluding Deferred Gov
Slide 42: Sale of Fertilizers
Sale of Fertilizers LMT Increase/(Decrease) Particulars Qtr. Mar‐ 22 CPLY LMT % (A) Sale of Manufactured Fertilizers Urea 8.56 9.75 (1.19) (12) Bio Fertilizers and Bentonite Sulphur 0.05 0.05 ‐ ‐ Sub Total (A) 8.61 9.80 (1.19) (12) (B) Sale of Traded Fertilizers Imported Urea (Govt. A/c) 4.22 2.39 1
Slide 43: Production & Purchase of Fertilizers
Production & Purchase of Fertilizers LMT Increase/(Decrease) Particulars Qtr. Mar‐22 CPLY LMT % (A) Production Urea Production 9.13 9.51 (0.38) (4) Bio Fertilizers and Bentonite Sulphur Production 0.05 0.04 0.01 25 Total Production (A) 9.18 9.55 (0.37) (4) (B) Purchase Imported Urea (Govt. A/c) 3.68
Slide 44: Zone wise Sale of Urea
Zone wise sale of Urea (Including Imported Urea on Govt. A/c & RFCL Urea) LMT Increase/ Zonal Offices Jan – Mar 22 CPLY (Decrease) Chandigarh Zone 5.27 4.48 0.79 Bhopal Zone 3.57 2.55 1.02 Lucknow Zone 3.38 3.45 (0.07) Hyderabad Zone 2.31 1.66 0.65 TOTAL 14.53 12.14 2.39 Sale of Urea at all zones
Slide 45: Details of expenses for the quarter March-2022
Details of expenses for the quarter March‐2022 45
Slide 46: Details of Expenses
Details of Expenses Increase/ Particulars Qtr. Mar‐22 CPLY Remarks (Decrease) Production of urea (LMT) 9.13 9.51 (0.38) Lower by 0.38 LMT Sale of urea (LMT) 8.56 9.75 (1.19) Lower by 1.19 LMT (Rs. Crore) (Rs. Crore) (Rs. Crore) Cost of Materials consumed 2156.19 1075.35 1080.84 Mainly due to increas
Slide 47: Urea Production
UREA PRODUCTION LMT Variance with Units Jan‐Mar 22 CPLY CPLY Nangal 1.43 1.17 0.26 Panipat 1.00 1.44 (0.44) Bathinda 1.28 1.43 (0.15) Vijaipur I 2.63 2.58 0.05 Vijaipur II 2.79 2.89 (0.10) Total 9.13 9.51 (0.38) Panipat Unit‐ The reason for lower Urea production w.r.t CPLY was mainly due to shutdo
Slide 48: On-Stream Days
On‐Stream Days LMT Variance with Units Jan‐Mar 22 CPLY CPLY Nangal 90 72 18 Panipat 62 85 (23) Bathinda 79 87 (8) Vijaipur I 88 83 5 Vijaipur II 76 92 (16) 48
Slide 49: Finance Cost
FINANCE COST (Rs. crore) Increase/ Particulars Qtr. Mar‐ 22 CPLY (Decrease) Interest on Long Term Loans (A) 10.57 4.09 6.48 Interest on working capital Loans (excluding interest allocated to imported 17.56 30.00 (12.44) fertilizer trading activities) Other borrowing costs (CP related charges) 0.24 0
Slide 50: Segment Results for FY 2021-22
SEGMENT RESULTS FOR FY 2021‐22 50
Slide 51: Segment Results
SEGMENT RESULTS (Rs. crore) Particulars FY 2021‐22 FY 2020‐21 Segment Revenue 10826.87 8275.96 Own Fertilizers (Urea, BS and Bio‐fertilizers) 68.28% 69.51% 4216.76 3276.33 Fertilizer Trading 26.59% 27.52% 813.46 353.37 Other Products and services 5.13% 2.97% Total 15857.09 11905.66 Segment Results {
Slide 52: Sale Breakup Segment wise
Sale Breakup Segment wise‐Urea/Traded goods/Industrial Product & Others Product & Services (Value & % Sale) FY‐2021‐22 FY‐2020‐21 Other Other Fertilizer Products & Products & Trading , ₹ services, ₹ services, ₹ Fertilizer 3,276.33, 353.37, 813.46, Trading , ₹ 27.52% 2.97% 5.13% 4,216.76, 26.59% Own
Slide 53: Consolidated Accounts
\7 INF Le CONSOLIDATED ACCOUNTS
Slide 54: Consolidated Accounts
CONSOLIDATED ACCOUNTS The Consolidated Financial Statements are prepared in accordance with the principles and procedures for the preparation and presentation of consolidated accounts as set out in the accounting standards (Ind‐As 28) as prescribed under Section 133 of the Companies Act, 2013. The
Slide 55: Consolidated Accounts
CONSOLIDATED ACCOUNTS Rs. crore STANDALONE CONSOLIDATED Particulars FY FY FY FY 2021‐22 2020‐21 2021‐22 2020‐21 Revenue from operations 15857.09 11905.66 15857.09 11905.66 Total Expenses 15613.64 11304.31 15613.64 11304.31 Profit/ (Loss) from operations before other income, finance cost 243.45 601.3
Slide 56: New Projects and Other Activities
NEW PROJECTS AND OTHER ACTIVITIES 56
Slide 57: Projects and Other Activities status
Projects and Other Activities status NFL has signed MoU with IFFCO for setting up Nano‐Urea Plant. Hiring of Project Management Consultant is under progress. Seed processing plants at Bathinda and Panipat have been commissioned during the year. Seed Processing Plant at Indore is under constructi
Slide 58: Thank You
THANK YOU 58
National Fertilizers — FY2021-22 Earnings Presentation on 6ix