Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q4 FY2020 Earnings Presentation
28 slides from Ifgl Refractories's earnings presentation, July 2020
Slide 1: IFGL Refractories Limited Investor Presentation – Q4 & FY20
COMMITTED TO CLEAN METAL IFGL Refractories Limited Investor Presentation – Q4 & FY20 July 2020
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited, solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or b
Slide 3: Industry Overview
Industry Overview
Slide 4: Global Steel Demand outlook
Global Steel Demand outlook In MT World World (Ex China) Developing economies (Ex China) 1,767 1,654 1,717 859 801 465 449 737 411 2019 2020F 2021F 2019 2020F 2021F 2019 2020F 2021F ➢ Global outlook: ▪ In 2020 worldsteel forecasts that steel demand will contract by 6.4%, dropping to 1,654 Mt due to
Slide 5: Forecasted Global Short-Term Steel Demand
Forecasted Global Short-Term Steel Demand In MT 2019 2020F 1,766.5 1,653.9 1,253.3 1,218.6 158.1 135.0 133.1 108.0 42.4 35.1 48.7 40.2 58.8 52.7 33.8 33.3 36.4 33.0 NAFTA Central EU Other Europe Africa Gulf CIS Asia & World & South Oceania America ➢ Steel demand in the developed economies is expecte
Slide 6: Top Steel Consuming Countries
Top 5 Steel Consuming Countries +1% In MT 2019 2020F 916.5 907.5 -18% -23% 101.5 97.7 83.3 -19% 75.3 -13% 63.2 51.1 53.2 46.5 China India United States Japan South Korea Source: World Steel Association ➢ India had implemented one of the strictest lockdown in world which disrupted Steel demand for a
Slide 7: National Infrastructure Pipeline (NIP) Project
National Infrastructure Pipeline (NIP) Project National Infrastructure Pipeline Project (NIP) Government unveiled the multimillion-dollar National Infrastructure Pipeline (NIP), with projects spread across 18 Investment allocation under NIP states over the next five years $5 Trillion Economy Others,
Slide 8: Domestic Steel Industry on a strong footing in the long term
Domestic Steel Industry on a strong footing in the long term India is now the world's second largest steel producer, surpassing Japan 1 Target of 300 MT* of production capacity by 2 2030 (National Steel Policy, 2017) Steel consumption has grown by 5.0% YoY and reached 101.5 MT* in 2019 (as per World
Slide 9: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Anti-Dumping Duty policy promotes fair trade and reduces the ill effects of dumping, on the Domestic Industry Infrastructure Huge export development and opportunity for India demand from the due to its low cost various sectors advantage Active local investment
Slide 10: Emerging Opportunities for Indian Market: Aatmanirbhar Bharat
Emerging Opportunities for Indian Market AATMANIRBHAR BHARAT ❑ AATMANIRBHAR BHARAT is the vision of the Government to make India a self-reliant nation. PM Modi has promoted “Vocal about Local” campaign which promotes Indian Companies to lead India to become self reliant. ❑ Self-reliant India will en
Slide 11: About Refractories
About Refractories What are Refractories Refractories are material having high melting points, with properties that make them suitable to act as heat- resisting barriers between high and low temperature zones. Refractories are inorganic nonmetallic material which can withstand high temperature witho
Slide 12: Our Performance
Our Performance
Slide 13: Corporate Structure
Corporate Structure… IFGL Refractories Limited 3.604 Cr Equity Shares with a Face Value of Rs. 10 each 100% Plants at Kalunga, Odisha, India IFGL Worldwide Holdings Limited + Plant at Kandla SEZ, Gujarat, India 100% 100% 100% + Hofmann Monocon Group EI Ceramics Ceramic Upcoming Plant at Visakhapatna
Slide 14: FY20 Consolidated Financial Highlights
FY20 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] -2.8% -9.9% -90 bps 955 928 114 11.9% 11.0% 103 FY19 FY20 FY19 FY20 FY19 FY20 PBT before Exceptional Items [Rs. Crs.] Cash PAT [Rs. Crs.] -21.0% -6.2% 64 95 89 51 FY19 FY20 FY19 FY20 14
Slide 15: Consolidated Q4 & FY20 Profit & Loss
Consolidated Q4 & FY20 Profit & Loss Profit & Loss [Rs. Crs.] Q4 FY20 Q4 FY19 Y-o-Y% FY20 FY19 Y-o-Y% Total Income 225.3 252.8 -10.9% 928.3 955.4 -2.8% Materials consumed 107.3 135.8 459.1 477.0 Employee Expenses 37.3 35.5 150.5 146.2 Other Expenses 57.7 54.7 216.2 218.5 EBITDA 23.0 26.9 -14.3% 102.
Slide 16: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs.) Mar-20 Mar-19 Equity & Liabilities (in Rs. Crs ) Mar-20 Mar-19 Non current Assets 460.6 491.5 Equity 809.0 794.6 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 152.3 143.8 Right to Use Asset 22.0 - Other Equity 772.9 758.6 Capital WIP
Slide 17: FY20 Standalone Financial Highlights
FY20 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +3.0% +4.5% +20 bps 492 507 78 15.2% 15.4% 75 FY19 FY20 FY19 FY20 FY19 FY20 Highest Ever Standalone Turnover in FY20 Profit Before Tax [Rs. Crs.] Cash PAT [Rs. Crs.] +9.9% +7.1% 36 64 69 33 FY19 FY20 FY1
Slide 18: Subsidiaries Performance
Subsidiaries Performance EI Ceramics [$ mn] Monocon Group [GBP mn] 19.8 28.8 19.4 2.9 24.8 2.2 2.3 2.2 1.5 1.6 Revenue EBITDA -1.0 -1.4 PAT FY19 FY20 FY19 FY20 Hofmann Ceramic [Euro mn] 10.5 Performance affected due to Covid-19 induced lockdown, weakness in 7.9 Automotive Industries in Germany and E
Slide 19: Ongoing Capex to boost performance
Ongoing Capex to boost performance ➢ ~Rs. 5 Cr : For Normal Capex & debottlenecking 1 IFGL Odisha Plant ➢ Expansion phase – I completed in FY 20 2 IFGL Kandla Plant ➢ Further cost of Rs. 10 Cr in FY21 ➢ 10-acre Land acquired for manufacturing of New Visakhapatnam products including Monolithics & Pre
Slide 20: Consistently performing over the years…
Consistently performing over the years… Particulars [Rs. Crs.] FY16 FY17 FY18 FY19 FY20 Total Income 722.1 769.5 839.7 955.4 928.3 Materials consumed 365.2 362.0 421.4 477.0 459.1 Employee Expenses 119.6 120.9 126.7 146.2 150.5 Other Expenses 156.1 183.5 181.3 218.5 216.2 EBITDA 81.2 103.1 110.3 113
Slide 21: …to create sustainable value for Shareholders…
…to create sustainable value for Shareholders… Total Debt (Rs. Crs.) Cash & Equivalents (Rs. Crs.) Net Debt (Rs. Crs.) FY16 FY17* FY18* FY19* FY20* FY16 FY17* FY18* FY19* FY20* FY16 FY17* FY18* FY19* FY20* 112.5 204.5 28.3 27.9 83.7 84.0 89.4 17.7 134.2 51.8 94.8 55.5 56.0 -44.8 -152.7 Net Debt : Eq
Slide 22: …with consistent Payout
…with consistent Payout 25.0% 25.0% 20.0% 20.0% 20.0% FY16 FY17 FY18 FY19 FY20 Particulars (Rs.) FY16 FY17 FY18 FY19 FY20 Consolidated Book Value Per Share 111.7 189.9 208.7 220.5 224.5 Consolidated Earning Per Share 12.1 13.9 13.1 14.0 5.4* Dividend Per Share 2.00 2.00 2.00 2.50 2.50# * EPS lower d
Slide 23: About Us
23 About Us
Slide 24: 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 24
Slide 25: …with proven management…
…with proven management… Mr. S.K. Bajoria Mr. P. Bajoria Mr. Kamal Sarda Chairman Managing Director Director & Chief Financial Officer • Promoter of S K Bajoria Group based at • Associated with IFGL from the very early days • Fellow Member of ICAI and a law graduate with Kolkata engaged in diversifi
Slide 26: …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 26
Slide 27: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry 27
Slide 28: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mr. Rajesh Agrawal Mr. Shogun Jain / Mr. Shrenik Shah rajesh.agarwal@ifgl.in shogun.jain@sgapl.net /shre