Apar Industries Limited · NSE:APARINDS
Apar Industries — Q4 FY24 Earnings Presentation
25 slides from Apar Industries's earnings presentation, May 14, 2024
Slide 1: Exchange filing cover letter: Investor Update for Q4FY24
SEC/1405/2024 By E-Filing May 14, 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 : APARINDS Sc
Slide 2: Earnings Call Update – May 2024
Ascending Passionately, Achieving Responsibly EARNINGS CALL UPDATE – May 2024
Slide 3: Q4 FY24: Revenue growth 9%, high US revenue in base LY
Q4 FY24: Revenue growth 9%, high US revenue in base LY. Sales growth ex-US 29.8%, healthy operating margins continues * Revenue EBITDA PAT 9% YoY 3% YoY 3% YoY INR 4,455 INR 457 crores INR 236 crores crores Margin at 10.3% down 60 bps YoY Margin at 5.3% down 60 bps YoY o Domestic demand continues to
Slide 4: 12M FY24: All time high yearly Revenue and PAT
12M FY24: All time high yearly Revenue and PAT * Revenue EBITDA PAT 13% YoY 24% YoY 29% YoY INR 16,153 crore INR 1,632 crore INR 825 crore Margin at 10.1% up 90 bps YoY Margin at 5.1% up 70 bps YoY Segmental Mix 12M FY24 Revenue o 12M FY24 revenue up 13% YoY with growths coming in from all the three
Slide 5: Conductors: Q4 FY24 highlights
Conductors: Q4 FY24 highlights Revenue Volume EBITDA 10% YOY 14% YOY 3% YOY INR 2,328 crores 56,299 MT INR 272 crores INR 282 crore (Q4 FY23) Margin at 11.7%; 13.3% (Q4 FY23) EBITDA per MT EBITDA post adj* EBITDA* per MT 15% YOY 5% YOY 16% YOY INR 48,343 INR 273 crores INR 48,453 INR 56,925 (Q4 FY23
Slide 6: Conductors: 12M FY24 highlights
Conductors: 12M FY24 highlights Revenue Volume EBITDA 15% YOY 29% YOY 22% YOY INR 8,031 crore 2,06,633 MT INR 873 crore INR 716 crore (12M FY23) Margin at 10.9%; 10.2% (12M FY23) EBITDA per MT EBITDA post adj* EBITDA* per MT 5% YOY 23% YOY 4% YOY INR 42,248 INR 871 crore INR 42,141 INR 44,700 (12M F
Slide 7: Speciality Oils & Lubricants: Q4 FY24 highlights
Speciality Oils & Lubricants : Q4 FY24 highlights Revenue Volume EBITDA 3% YOY 5% YOY 24% YOY INR 1,210 crores 1,37,090 KL INR 57 crores INR 46 crores (Q4 FY23) Margin at 4.7%; 3.9% (Q4 FY23) EBITDA per KL EBITDA post adj* EBITDA* per KL 18% YOY 20% YOY 15% YOY INR 4,176 INR 58 crores INR 4,251 INR
Slide 8: Speciality Oils & Lubricants: 12M FY24 highlights
Speciality Oils & Lubricants : 12M FY24 highlights Revenue Volume EBITDA 4% YOY 11% YOY 27% YOY INR 4,837 crore 5,37,862 KL INR 315 crore INR 248 crore (12M FY23) Margin at 6.5%; 5.3% (12M FY23) EBITDA per KL EBITDA post adj* EBITDA* per KL 15% YOY 33% YOY 20% YOY INR 5,854 INR 309crore INR 5,746 IN
Slide 9: Lubricants: Q4 FY24 highlights
Lubricants : Q4 FY24 highlights Revenue Volume 4% YOY 3% YOY INR 241 crores 17,813 KL o Revenue is up by 4% in Q4 FY24 vs Q4 FY23 o Industrial volume is up 16.7% YoY, Automotive volume is down by 11.0% YoY Note: Above numbers are given only for analytical purpose. These numbers are already included
Slide 10: Lubricants: 12M FY24 highlights
Lubricants : 12M FY24 highlights Revenue Volume 6%YOY 1% YOY INR 944 crore 70,625 KL o Revenue is up 6% on YoY basis o Industrial volume up 4.0%, Automotive volume remains flat Note: Above numbers are given only for analytical purpose. These numbers are already included in Slide 63 in Specialty Oils
Slide 11: Cables: Q4 FY24 highlights
Cables : Q4 FY24 highlights Revenue EBITDA EBITDA post adj* 15% YOY 7% YOY 6% YOY INR 1,086 crores INR 124 crores INR 123 crores INR 115 crores (Q4 FY23) INR 117 crores (Q4 FY23) Margin at 11.4%; 12.2% (Q4 FY23) Margin at 11.4%; 12.4% (Q4 FY23) o Strong demand in domestic business. Overall revenue i
Slide 12: Cables: 12M FY24 highlights
Cables : 12M FY24 highlights Revenue EBITDA EBITDA post adj* 18% YOY 26% YOY 27% YOY INR 3,859 crore INR 439 crore INR 438 crore INR 348 crore (12M FY23) INR 344 crore (12M FY23) Margin at 11.4%; 10.7% (12M FY23) Margin at 11.4%; 10.5% (12M FY23) o Revenue up by 18% YoY due to increase in Elastomeri
Slide 13: 12M FY24 Division-wise EBITDA to PAT
12M FY24 Division-wise EBITDA to PAT Particulars Oil Conductor Cable Others Total EBITDA pre-open period forex (Note 1) 315.3 873.0 439.3 13.2 1,640.8 Open period forex (Note 2) 5.8 2.2 1.0 0.1 9.2 EBIDTA post open period forex 309.5 870.8 438.2 13.1 1,631.6 Finance cost (ex open period forex) (Note
Slide 14: Annexures
ANNEXURES
Slide 15: Q4 FY24: Consolidated Profit & Loss Statement
Q4 FY24: Consolidated Profit & Loss Statement Particulars Q4 FY24 Q4 FY23 % Chg YoY Q3 FY24 % Chg QoQ Gross sales 4,432.6 4,053.3 9.4% 3,986.0 11.2% Other Operating Income 22.5 31.0 (27.3%) 22.6 (0.1%) Total Operating Income 4,455.1 4,084.3 9.1% 4,008.5 11.1% Total Expenditure 4,033.8 3,660.4 10.2%
Slide 16: Q4 FY24: Consolidated Segment Analysis
Q4 FY24: Consolidated Segment Analysis Segment Q4 FY24 Q4 FY23 % Chg YoY Q3 FY24 % Chg QoQ Revenue 2,328.0 2,121.3 9.7% 1,985.5 17.3% Conductors 1,210.3 1,175.1 3.0% 1,239.6 (2.4%) Transformer & Specialty Oils 1,085.8 943.0 15.1% 924.0 17.5% Power & Telecom Cables 33.7 25.5 32.1% 31.4 7.2% Others/Un
Slide 17: Q4 FY24: Consolidated Segment Analysis
Q4 FY24: Consolidated Segment Analysis Segment Q4 FY24 Q4 FY23 % Chg YoY Q3 FY24 % Chg QoQ Segment Results before Interest and Tax Conductors 270.8 275.1 -1.5% 209.2 29.5% Transformer & Specialty Oils 51.3 40.6 26.2% 108.1 -52.6% Power and Telecom Cables 114.2 107.1 6.5% 98.3 16.1% Others/Unallocate
Slide 18: Q4 FY24: Financials
Q4 FY24: Financials Key Ratios Q4 FY24 Q4 FY23 Q3 FY24 EBITDA Margin 10.2% 10.6% 10.6% Net Margin 5.3% 5.9% 5.4% Total Expenditure/ Total Net Operating Income 90.5% 89.6% 89.9% Raw Material Cost/ Total Net Operating Income 77.2% 75.5% 76.8% Staff Cost/ Total Net Operating Income 1.7% 1.7% 1.8% Other
Slide 19: 12M FY24: Consolidated Profit & Loss Statement
12M FY24: Consolidated Profit & Loss Statement Particulars 12M FY24 12M FY23 % Chg YoY Gross sales 16,045.1 14,257.8 12.5% Other Operating Income 107.8 78.5 37.4% Total Operating Income 16,153.0 14,336.3 12.7% Total Expenditure 14,630.7 13,109.4 11.6% Cost of Raw Materials 12,540.0 11,076.2 13.2% Em
Slide 20: 12M FY24: Consolidated Segment Analysis
12M FY24: Consolidated Segment Analysis Segment 12M FY24 12M FY23 % Chg YoY Revenue Conductors 8,031.0 7,013.1 14.5% Transformer & Specialty Oils 4,836.9 4,640.8 4.2% Power & Telecom Cables 3,858.9 3,263.5 18.2% Others/Unallocated 123.3 107.3 14.9% Total Revenue 16,850.1 15,024.6 12.1% Less: Inter -
Slide 21: 12M FY24: Consolidated Segment Analysis
12M FY24: Consolidated Segment Analysis Segment 12M FY24 12M FY23 % Chg YoY Segment Results before Interest and Tax Conductors 857.5 682.5 25.6% Transformer & Specialty Oils 291.8 225.1 29.6% Power and Telecom Cables 405.1 316.8 27.9% Others/Unallocated 12.0 6.8 77.0% Total 1566.4 1231.2 27.2% Less
Slide 22: 12M FY24: Financials
12M FY24: Financials Key Ratios 12M FY24 12M FY23 EBITDA Margin 10.0% 8.9% Net Margin 5.1% 4.5% Total Expenditure/ Total Net Operating Income 90.6% 91.4% Raw Material Cost/ Total Net Operating Income 77.6% 77.3% Staff Cost/ Total Net Operating Income 1.8% 1.5% Other Expenditure/ Total Net Operating
Slide 23: Shareholding Pattern
SHAREHOLDING PATTERN
Slide 24: Market performance and shareholding structure
Market performance and shareholding structure APAR has been consistently outperforming market 300 168% 250 200 77% 150 25% 100 Apar Capital Goods Sensex Chart has been re-based to 100 As on March 31, 2024 Outstanding shares – 4,01,68,315 10.8% Major Non-Promoter Shareholders Shareholding (%) 0.9% Pr
Slide 25: Thank You
For Institutional enquiries Mr. Amey Gogate Investor Relations Mr. Ambesh Tiwari Contact No : +91 22 67800400 Contact No : +91 84248 93404 E-mail – amey.gogate@apar.com E-mail – ambesh@s-ancial.com #215, Shiv Shakti Industrial Estate, 2Nd Floor, Address: APAR house, Bldg no. 4 & 5, For Investor Grie