Slide 1: Exchange filing cover letter: Investor Update Q3FY24
SEC/3001/2024 By E-Filing January 30, 2024 National Stock Exchange of India Limited BSE Limited “Exchange Plaza”, Corporate Relations Department, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra- Kurla Complex, Dalal Street, Bandra (E), Fort, Mumbai – 400 051. Mumbai - 400 001. Scrip Symbol : APARIND
Slide 2: Earnings Call Update January 2024
EARNINGS CALL UPDATE January 2024
Slide 3: Q3 FY24: Revenue growth 2%, strong growth in EBITDA and PAT
Q3 FY24: Revenue growth 2%, high US revenue in base LY. Sales growth ex-US 17.2%, strong growth in EBITDA and PAT * Revenue EBITDA PAT 2% YoY 24% YoY 28% YoY INR 4,013 crores INR 432 crores INR 218 crores Margin at 10.8% up 190 bps YoY Margin at 5.4% up 110 bps YoY o Due to de-inventorising by US cu
Slide 4: 9M FY24: Revenue grew 14% YoY; strong EBITDA margin growth
9M FY24: Revenue grew by 14% YoY; revenue ex-US grew by 20%. Strong growth in EBITDA margin continues * Revenue EBITDA PAT 14% YoY 42% YoY 49% YoY INR 11,711 crore INR 1,174 crore INR 589 crore Margin at 10.0% up 200 bps YoY Margin at 5.0% up 120 bps YoY Segmental Mix 9M FY24 Revenue o 9M FY24 reven
Slide 5: Conductors: Q3 FY24 highlights
Conductors: Q3 FY24 highlights Revenue Volume EBITDA 4% YOY 14% YOY 6% YOY INR 1,985 crores 50,695 MT INR 213 crores INR 227 crore (Q3 FY23) Margin at 10.7%; 11.9% (Q3 FY23) EBITDA per MT EBITDA post adj* EBITDA* per MT 18% YOY 5% YOY 17% YOY INR 41,926 INR 211 crores INR 41,530 INR 50,886 (Q3 FY23)
Slide 6: Conductors: 9M FY24 highlights
Conductors: 9M FY24 highlights Revenue Volume EBITDA 17% YOY 36% YOY 38% YOY INR 5,703 crore 1,50,334 MT INR 601 crore INR 434 crore (9M FY23) Margin at 10.5%; 8.9% (9M FY23) EBITDA per MT EBITDA post adj* EBITDA* per MT 2% YOY 43% YOY 5% YOY INR 39,966 INR 598 crore INR 39,777 INR 39,232 (9M FY23)
Slide 7: Speciality Oils & Lubricants: Q3 FY24 highlights
Speciality Oils & Lubricants : Q3 FY24 highlights Revenue Volume EBITDA 0.2% YOY 8% YOY 328% YOY INR 1,244 crores 1,36,329 KL INR 114 crores INR 27 crores (Q3 FY23) Margin at 9.2%; 2.1% (Q3 FY23) EBITDA per KL EBITDA post adj* EBITDA* per KL 298% YOY 433% YOY 396% YOY INR 8,357 INR 111 crores INR 8,
Slide 8: Speciality Oils & Lubricants: 9M FY24 highlights
Speciality Oils & Lubricants : 9M FY24 highlights Revenue Volume EBITDA 5% YOY 13% YOY 28% YOY INR 3,640 crore 4,00,772 KL INR 258 crore INR 202 crore (9M FY23) Margin at 7.1%; 5.8% (9M FY23) EBITDA per KL EBITDA post adj* EBITDA* per KL 13% YOY 37% YOY 21% YOY INR 6,428 INR 251crore INR 6,257 INR 5
Slide 9: Lubricants: Q3 FY24 highlights
Lubricants : Q3 FY24 highlights Revenue Volume 18% YOY 5% YOY INR 281 crores 17,945 KL o Revenue is up by 18% in Q3 FY24 vs Q3 FY23 o Industrial volume is down 5% YoY, Automotive volume is up by 10% YoY Note: Above numbers are given only for analytical purpose. These numbers are already included in
Slide 10: Lubricants: 9M FY24 highlights
Lubricants : 9M FY24 highlights Revenue Volume 6%YOY 3% YOY INR 703 crore 52,812 KL o Revenue is up 6% on YoY basis o Industrial volume remains flat YoY, Automotive volume up 4% YoY. Note: Above numbers are given only for analytical purpose. These numbers are already included in Slide 7 in Specialty
Slide 11: Cables: Q3 FY24 highlights
Cables : Q3 FY24 highlights Revenue EBITDA EBITDA post adj* 0.3% YOY 2% YOY 2% YOY INR 924 crores INR 107 crores INR 107 crores INR 109 crores (Q3 FY23) INR 109 crores (Q3 FY23) Margin at 11.6%; 11.9% (Q3 FY23) Margin at 11.5%; 11.8% (Q3 FY23) o Revenue is flattish on YoY due to high base of US sale
Slide 12: Cables: 9M FY24 highlights
Cables : 9M FY24 highlights Revenue EBITDA EBITDA post adj* 20% YOY 36% YOY 38% YOY INR 2,773 crore INR 316 crore INR 315 crore INR 233 crore (9M FY23) INR 227 crore (9M FY23) Margin at 11.4%; 10.0% (9M FY23) Margin at 11.4%; 9.8% (9M FY23) o Revenue up by 20% YoY due to increase in Elastomeric prod
Slide 13: 9M FY24 Division-wise EBITDA to PAT
9M FY24 Division-wise EBITDA to PAT Particulars Oil Conductor Cable Others Total EBITDA pre-open period forex (Note 1) 258.0 600.8 315.5 10.3 1,184.7 Open period forex (Note 2) 6.8 2.8 0.6 0.0 10.3 EBIDTA post open period forex 251.2 598.0 314.9 10.3 1,174.4 Finance cost (ex open period forex) (Note
Slide 14: Annexures
ANNEXURES
Slide 15: Q3 FY24: Consolidated Profit & Loss Statement
Q3 FY24: Consolidated Profit & Loss Statement Particulars Q3 FY24 Q3 FY23 % Chg YoY Q2 FY24 % Chg QoQ Gross sales 3,990.6 3,916.9 1.9% 3,894.0 2.5% Other Operating Income 22.6 22.0 2.7% 31.5 (28.3%) Total Operating Income 4,013.2 3,938.9 1.9% 3,925.5 2.2% Total Expenditure 3,608.1 3,595.7 0.3% 3,575
Slide 16: Q3 FY24: Consolidated Segment Analysis
Q3 FY24: Consolidated Segment Analysis Segments Q3 FY24 Q3 FY23 % Chg YoY Q2 FY24 % Chg QoQ Revenue Conductors 1,985.5 1,908.1 4.1% 1,943.3 2.2% Transformer & Specialty Oils 1,244.2 1,241.2 0.2% 1,198.1 3.8% Power & Telecom Cables 924.0 921.1 0.3% 882.3 4.7% Others/Unallocated 31.4 27.1 16.0% 29.2 7
Slide 17: Q3 FY24: Consolidated Segment Analysis
Q3 FY24: Consolidated Segment Analysis Segment Q3 FY24 Q3 FY23 % Chg YoY Q2 FY24 % Chg QoQ Segment Results before Interest and Tax Conductors 209.2 216.8 -3.5% 207.0 1.1% Transformer & Specialty Oils 108.1 20.8 419.7% 59.8 80.7% Power and Telecom Cables 98.3 101.4 -3.1% 90.6 8.5% Others/Unallocated
Slide 18: Q3 FY24: Financials
Q3 FY24: Financials Key Ratios Q3 FY24 Q3 FY23 Q2 FY24 EBITDA Margin 10.6% 8.9% 9.4% Net Margin 5.4% 4.3% 4.4% Total Expenditure/ Total Net Operating Income 89.9% 91.3% 91.1% Raw Material Cost/ Total Net Operating Income 74.1% 74.6% 75.9% Staff Cost/ Total Net Operating Income 1.8% 1.3% 1.8% Other E
Slide 19: 9M FY24: Consolidated Profit & Loss Statement
9M FY24: Consolidated Profit & Loss Statement Particulars 9M FY24 9M FY23 % Chg YoY Gross sales 11,625.8 10,216.1 13.8% Other Operating Income 85.3 47.5 79.6% Total Operating Income 11,711.1 10,263.6 14.1% Total Expenditure 10,610.1 9,460.5 12.2% Cost of Raw Materials 8,800.6 7,726.8 13.9% Employees
Slide 20: 9M FY24: Consolidated Segment Analysis
9M FY24: Consolidated Segment Analysis Segment 9M FY24 9M FY23 % Chg YoY Revenue Conductors 5,702.9 4,891.7 16.6% Transformer & Specialty Oils 3,639.8 3,481.7 4.5% Power & Telecom Cables 2,773.1 2,320.5 19.5% Others/Unallocated 89.6 77.4 15.8% Total Revenue 12,205.4 10,771.3 13.3% Less: Inter - Segm
Slide 21: 9M FY24: Consolidated Segment Analysis
9M FY24: Consolidated Segment Analysis Segment 9M FY24 9M FY23 % Chg YoY Segment Results before Interest and Tax Conductors 586.7 407.4 44.0% Transformer & Specialty Oils 240.5 185.0 30.0% Power and Telecom Cables 290.9 209.7 38.7% Others/Unallocated 9.5 4.8 97.9% Total 1127.6 806.9 39.7% Less : Fin
Slide 22: 9M FY24: Financials
9M FY24: Financials Key Ratios 9M FY24 9M FY23 EBITDA Margin 9.9% 8.1% Net Margin 5.1% 3.9% Total Expenditure/ Total Net Operating Income 90.6% 92.2% Raw Material Cost/ Total Net Operating Income 75.1% 75.3% Staff Cost/ Total Net Operating Income 1.8% 1.5% Other Expenditure/ Total Net Operating Inco
Slide 23: Shareholding Pattern
SHAREHOLDING PATTERN
Slide 24: Market performance and shareholding structure
Market performance and shareholding structure APAR has been consistently outperforming market 400 331% 300 200 166% 100 118% 0 Apar Capital Goods Sensex Chart has been re-based to 100 As on December 31 , 2023 Outstanding shares – 4,01,68,315 11.5% Major Non-Promoter Shareholders Shareholding (%) 1.1
Slide 25: Thank You
For Institutional enquiries Mr. Ramesh Iyer CFO & Investor Relations Mr. Ambesh Tiwari Contact No : +91 22 67800400 Contact No : +91 84248 93404 E-mail – ramesh.iyer@apar.com E-mail – ambesh@s-ancial.com #215, Shiv Shakti Industrial Estate, 2Nd Floor, For Investor Grievances J R Boricha Marg, Lower