Electrosteel Castings Ltd. · NSE:ELECTCAST
Electrosteel Castings — Q4 FY24 Earnings Presentation
26 slides from Electrosteel Castings's earnings presentation, May 13, 2024
Slide 1: Exchange filing cover letter for Q4 FY24 earnings call presentation
13 May, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Fort, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 500128 Symbol: ELECTCAST ISIN : INE086A01029 Dear Sir/Madam, Sub: Disclosure under Regulati
Slide 2: Q4 & FY24 Investor Presentation
Q4 & FY24 Investor Presentation May 2024 ‘La Frasnee’ Hydropower Plant Project - France
Slide 3: Table of Contents
Table of Contents 1 Investment Rationale 2 Financial Highlights (Q4 & FY24) 3 Water Infrastructure Opportunity 4 Appendix
Slide 4: Investment Rationale
ELECTROSTEEL Investment Rationale
Slide 5: Fueling Capex Plans with Internal Accruals
Fueling Capex Plans with Internal Accruals Cash Profit (PAT + Depreciation) (INR Crore) Production (in Lakh MT) & Planned Capex 850 438 449 210 FY21 FY22 FY23 FY24 Capex aided by Cash Flows along with Reduction in Debt Long Term Debt (INR Crore) 5.03 6.04 7.15 7.40 8.95 955 1,031 FY21 FY22 FY23 FY24
Slide 6: Strong Financial Metrics
Strong Financial Metrics Consolidated Financial Credit Rating Dividend History Highlights ➢ Revenues at INR 7,580 Crores, Highest ever ➢ Long Term: CRISIL/IndiaRatings ➢ Consistently rewarding yearly EBITDA and PAT at INR 1,281 Crores AA-/ Stable (Reaffirmed) stakeholders with dividend and INR 740 C
Slide 7: Largest Beneficiary of Water Infrastructure Play
Largest Beneficiary of Water Infrastructure Play Establishing a Niche Play Manufacturing Excellence & ESG Initiatives Global Presence ➢ Promoters Expertise of almost Seven ➢ 5 Multi-locational Strategic State-of- ➢ Treats and utilises sewage water of Decades Art Facilities Tirupati Municipal Corpora
Slide 8: Financial Highlights
Financial Highlights
Slide 9: Q4/FY24 Result Highlights (Consolidated)
Q4/FY24 Result Highlights (Consolidated) Particulars (in INR Q4FY24 Q4FY23 YoY Q3FY24 QoQ FY24 FY23 YoY Crores) Total Income 2,039 1,909 6.8% 1,892 7.7% 7,580 7,360 3.0% Cost of Goods Sold 990 1,038 (4.7%) 856 15.6% 3,757 3,989 (5.8%) Gross Profit 1,049 870 20.5% 1,036 1.2% 3,823 3,372 13.4% • EBITD
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Equity and Liabilities (in INR Crores) FY23 FY24 Assets (in INR Crores) FY23 FY24 Share Capital 59 62 Non Current Assets Other Equity 4,325 5,052 Plant, Property and Equipment 2,668 2,842 Total Equity 4,384 5,114 Capital Work in Progress 1,302 1,229 Borrowings 737 418 Othe
Slide 11: Financial Snapshot (Consolidated)
Financial Snapshot (Consolidated) Gross Profit (in INR Crores) & Gross Margin (%) EBITDA (in INR Crores) & EBITDA Margin (%) 54.4% 53.6% 45.8% 50.4% 13.8% 14.1% 11.1% 16.9% 1,281 3,823 3,372 2,858 822 754 1,919 487 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 PAT (in INR Crores) & PAT Margin (%) Earnings
Slide 12: Financial Snapshot (Consolidated)
Financial Snapshot (Consolidated) Net Leverage Analysis Working Capital Analysis (in Days) Net Debt to Equity 149 136 140 131 0.50 0.48 0.43 0.34 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Adjusted Return on Capital Employed* Adjusted Return on Equity* 19.0% 19.3% 11.1% 12.3% 12.3% 8.7% 10.2% 6.1% FY21
Slide 13: Q4/FY24 Result Highlights (Standalone)
Q4/FY24 Result Highlights (Standalone) Particulars Q4FY24 Q4FY23 YoY Q3FY24 QoQ FY24 FY23 YoY (in INR Crores) Total Income 1,812 1,786 1.5% 1,814 (0.1%) 7,044 7,013 0.4% Cost of Goods Sold 862 1,012 (14.8%) 875 (1.5%) 3,559 3,964 (10.2%) Gross Profit 949 774 22.7% 939 1.1% 3,485 3,049 14.3% • EBITDA
Slide 14: Standalone Balance Sheet
Standalone Balance Sheet Equity and Liabilities (in INR Crores) FY23 FY24 Assets (in INR Crores) FY23 FY24 Share Capital 59 62 Non-Current Assets Other Equity 4,211 4,930 Plant, Property and Equipment 2,605 2,776 Total Equity 4,270 4,992 Capital Work in Progress 1,302 1,228 Borrowings 706 399 Other
Slide 15: Financial Snapshot (Standalone)
Financial Snapshot (Standalone) Operating Revenues (in INR Crores) Gross Profit (in INR Crores) & Gross Margin (%) 7,013 7,044 53.5% 50.8% 49.5% 43.5% 5,095 3,485 3,049 2,587 3,138 1,679 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 EBITDA (in INR Crores) & EBITDA Margin (%) PAT (in INR Crores) & PAT Marg
Slide 16: Financial Snapshot (Standalone)
Financial Snapshot (Standalone) Net Leverage Analysis Working Capital Analysis (in Days) 146 Net Debt to Equity 129 129 125 0.47 0.43 0.36 0.31 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Adjusted Return on Capital Employed* Adjusted Return on Equity* 19.8% 19.8% 13.0% 12.0% 11.1% 11.2% 8.8% 5.6% FY21 F
Slide 17: Water Infrastructure Opportunity
Water Infrastructure Opportunity
Slide 18: Water Infrastructure Demand Drivers
Water Infrastructure Demand Drivers Jal Jeevan Mission (JJM): Driving Water JJM : Funds Drawn by States/Union Territories Infra Demand (INR Crore) 60,712 54,744 ➢ The Government’s flagship scheme - Outlay of INR 3.60 lakh crores 40,010 ➢ Providing water supply by to every crore rural household at a
Slide 19: Water Infrastructure Applications
Water Infrastructure Applications ECL’s Water Infra Applications Drinking water/ Industrial Sewage and Miscellaneous irrigation applications Wastewater Disposal applications ➢ Clear and Raw ➢ Ash-Slurry Handling ➢ Gravity Sewage ➢ Vertical Connection to Water Transmission & Disposal System Collectio
Slide 20: Ductile Iron Pipe & Fittings Best Suited for Water Infra
Ductile Iron Pipe & Fittings Best Suited for Water Infra Ductile Iron Pipe Ductile Iron Fittings ECL is the pioneer in setting up the first Ductile Iron Pipe plant ECL is amongst the premier manufacturers of Ductile Iron in the Indian Sub-continent fittings in India ➢ One of the most preferred pipes
Slide 21: Delivering Key Projects for Marquee Clients
Delivering Key Projects for Marquee Clients ISRO Vikram Sarabhai Space Centre Kargil India’s New Parliament Building Boeing Corporation Pfizer Facility BMW (Wallersdrof, Germany) Ras Abu Aboud Stadium, Qatar Doha Metro Hamad International Airport WWTP, Okhla French Atomic Centre 20
Slide 22: Shareholder Information
Shareholder Information Capital Market Data Shareholding Pattern March 2024 (%) NSE Ticker /BSE Code ELECTCAST / 500128 Current Market Price (as on 10 May 2024) 171.0 34% Promoter Market Cap (INR Crores) (as on 10 May 2024) 10,570 46% FIIs 52 Week High/Low 208.0/42.5 DIIs Shares Outstanding, Crores
Slide 23: Safe Harbour
Safe Harbour This presentation has been prepared by Electrosteel Castings Limited solely to provide information about the Company. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such informa
Slide 24: Thank You
Thank You Electrosteel Castings Limited Corporate Office G.K. Tower, 19, Camac Street, Kolkata - 700 017 Contact: +91-33-22839990 www.electrosteel.com IR Contact Details Hiral Keniya | Vikash Verma hiral.keniya@in.ey.com | vikash.verma1@in.ey.com +91 9029662801| +91 9664009029
Slide 25: Appendix
Appendix
Slide 26: Our Journey Towards Integrated Play
Our Journey Towards Integrated Play 1955-59 1994 1996 2000 2002-03 2005 2006 ➢ Acquired 46% stake in ➢ Commissioning of ➢ Capacity of DI Pipe Founded in 1955. Set Up DI Pipe plant Obtained Kitemark Lanco Industries Ltd. Obtained Kitemark license 150,000 TPA COP at SW increased to 120,000 Commenced P
Electrosteel Castings — Q4 FY24 Earnings Presentation on 6ix