Slide 1: Exchange filing cover letter
The Corporate Relationship Department, National Stock Exchange of India Limited BSE Limited “Exchange Plaza” Ist Floor , New Trading Ring Rotunda Bandra-Kurla Complex Building, P.J. Towers Bandra (E) Dalal Street, Mumbai 400 051 Mumbai 400 001 Scrip Code- 503806 Scrip Code-SRF SRF/SEC/BSE/NSE 31.01.
Slide 2: Q3 & 9M FY23 Results Presentation
SRF Limited Q3 & 9M FY23 Results Presentation January 31, 2023
Slide 3: Disclaimer
Certain statements in this document may be forward-looking. Such statements are subject to certain risks and uncertainties like regulatory changes, local, political or economic developments, and many other factors that could cause actual results to differ materially from those contemplated by the re
Slide 4: Contents
Contents Company Overview……………………………………………………………………………… 04 Q3 & 9M FY23 Results Overview…..……………………………………………………….. 11 Q3 & 9M FY23 Segmental Performance……..………………………………………….. 15 Outlook……………………………………………………………………………………………….... 31 3 SRF - General [Restricted use] - This mail, document can be used by r
Slide 5: Company Overview
COMPANY OVERVIEW 4 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
Slide 6: Snapshot
Snapshot Exports to Operations in 4 14 7,000+ 90+ Countries Manufacturing Facilities Global Workforce Countries 12,434 cr 38% 42% 20% Revenue Packaging Chemicals Technical Textiles & Others 3,146 cr 1,889 cr EBITDA PAT 5 Note: As on 31st March 2022 SRF - General [Restricted use] - This mail, documen
Slide 7: Overview - Business Profile
Overview - Business Profile Chemicals Packaging Films Specialty Chemicals Fluorochemicals Films for Flexible Packaging Intermediates for AI / Refrigerants Bi-axially Oriented Polyethylene API / Applications Pharma Propellants Terephthalate (BOPET) Contract Manufacturing, Industrial Chemicals Bi-axia
Slide 8: Manufacturing Facilities
Manufacturing Facilities FLUOROCHEMICALS & SPECIALTY CHEMICALS 2 National Operations 1. Rajasthan, India - Bhiwadi 2. Gujarat, India - Dahej PACKAGING FILMS TECHNICAL TEXTILES 3 International Operations 1 4 National Operations 1 4. KwaZulu - Natal, South Africa 1. Madhya Pradesh, India - Malanpur, B
Slide 9: Market Leadership Across Businesses
Market Leadership Across Businesses Specialty Chemicals Fluorochemicals Packaging Films Technical Textiles Established relationship with Unique and fully integrated Recognized for expertise in Domestic market leader in marquee customers facilities extending across a developing, manufacturing Tyre Co
Slide 10: Growth Levers
Growth Levers Focus on building leadership businesses Build and maintain market leadership in business segments Build a Company known and Nurture innovation through R&D respected for its Reposition portfolio towards knowledge-based R&D capabilities products Focus on building knowledge-based value-ad
Slide 11: Results Overview - Financial Overview
Results Overview - Financial Overview Consolidated figures Key Financial Ratios PARTICULARS FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 EBITDA Margin 17.59% 13.59% 20.43% 22.13% 21.42% 17.69% 19.00% 20.90% 26.05% 25.30% PAT Margin 6.69% 4.04% 8.78% 9.51% 10.87% 8.38% 8.33% 12.70% 14.26% 15.19%
Slide 12: Q3 & 9M FY23 Results Overview
Q3 & 9M FY23 Results Overview 11 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
Slide 13: Abridged Results Overview
Abridged Results Overview Consolidated figures Particulars (Rs. Crore) Q3 FY23 Q3 FY22 % Y-o-Y 9M FY23 9M FY22 % Y-o-Y Gross Operating Revenue 3,469.7 3,345.9 3.7% 11,092.2 8,884.2 24.9% EBITDA 858.6 858.6 - 2,726.2 2,202.2 23.8% EBITDA Margin (%) 24.7% 25.7% 24.6% 24.8% Depreciation 150.7 132.4 13.
Slide 14: Results Overview - Revenue Share
Results Overview - Revenue Share Revenue (Rs. Crore) Q3 FY23 Q3 FY22 9M FY23 9M FY22 Total – 3,477.6 Total – 3,349.1 Total – 11,110.4 Total – 8,892.9 92.4 107.0 298.3 247.0 425.9 537.8 1,463.2 1,588.6 2.7% 3.2% 2.7% 2.8% 12.2% 13.2% 16.1% 17.9% 42.6% 41.2% 47.8% 50.5% 34.6% 36.3% 38.1% 38.1% 1,756.6
Slide 15: Results Overview - EBIT Share
Results Overview - EBIT Share EBIT (Rs. Crore) Q3 FY23 Q3 FY22 9M FY23 9M FY22 Total – 725.9 Total – 795.5 Total – 2,353.5 Total – 1,959.4 9.2 8.6 23.6 16.3 34.2 113.5 213.3 380.0 1.3% 1.1% 1.0% 0.8% 4.7% 9.1% 14.3% 118.6 16.3% 19.4% 21.9% 45.6% 52.7% 32.0% 515.2 68.0% 77.7% 34.2% 563.9 419.2 1,601.
Slide 16: Q3 & 9M FY23 Segmental Performance
Q3 & 9M FY23 Segmental Performance Chemicals Packaging Films Technical Textiles Others 15 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
Slide 17: Chemicals Business
Chemicals Business 16 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
Slide 18: Chemicals Business - Results Update
Chemicals Business - Results Update Consolidated figures PARTICULARS Q3 FY23 Q3 FY22 % Y-o-Y 9M FY23 9M FY22 % Y-o-Y Segment Revenues 1756.6 1428.3 23.0% 5309.2 3668.3 44.7% % Contribution to Revenues 50.5% 42.6% 47.8% 41.2% EBIT 563.9 419.2 34.5% 1601.4 892.6 79.4% % EBIT Margins 32.1% 29.4% 30.2%
Slide 19: Chemicals Business - Specialty Chemicals
Chemicals Business Specialty Chemicals Business Segment delivered a robust performance on account of: Capex Update Addition of new products that gained substantial ❑ The Board has approved a project for setting up a new and dedicated traction facility to produce an agrochemical intermediate at Dahej
Slide 20: Chemicals Technology Group
Chemicals Business Chemicals Technology Group Chemicals Technology Group (CTG) is actively engaged in the development of new process technologies Key focus on high end molecules Strong internal competencies and capabilities Equipped with state-of-the-art R&D facilities and an ingenious team of scien
Slide 21: Chemicals Business - Fluorochemicals
Chemicals Business Fluorochemicals Business Business reported healthy growth led by: Capex Update Strong traction in the domestic market and higher ❑ The Board has approved a project for setting up a range of prices for certain key refrigerants in critical international Specialty Fluoropolymers at D
Slide 22: Packaging Films Business
Packaging Films Business 21 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
Slide 23: Packaging Films Business - Results Update
Packaging Films Business - Results Update Consolidated figures PARTICULARS Q3 FY23 Q3 FY22 % Y-o-Y 9M FY23 9M FY22 % Y-o-Y Segment Revenues 1202.7 1276.0 -5.7% 4029.7 3389.0 18.9% % Contribution to Revenues 34.6% 38.1% 36.3% 38.1% EBIT 118.6 254.2 -53.3% 515.2 670.5 -23.2% % EBIT Margins 9.9% 19.9%
Slide 24: Packaging Films Business - Key Highlights
Packaging Films Business Key Highlights Business faced headwinds on account of: Market Trends BOPET and BOPP demand and prices remained soft With significant capacity addition both in India and Steep energy costs in Europe, impacting overall operations in overseas, pressure on margins is expected to
Slide 25: Technical Textiles Business
Technical Textiles Business 24 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
Slide 26: Technical Textiles Business - Results Update
Technical Textiles Business - Results Update Consolidated figures PARTICULARS Q3 FY23 Q3 FY22 % Y-o-Y 9M FY23 9M FY22 % Y-o-Y Segment Revenues 425.9 537.8 -20.8% 1463.2 1588.6 -7.9% % Contribution to Revenues 12.2% 16.1% 13.2% 17.9% EBIT 34.2 113.5 -69.9% 213.3 380.0 -43.9% % EBIT Margins 8.0% 21.1%
Slide 27: Technical Textiles Business - Key Highlights
Technical Textiles Business Key Highlights Demand for NTCF remained subdued during the quarter Market Trends Belting Fabric and Nylon Industrial Yarn segments recorded higher sales YoY with healthy volumes NTCF demand expected to remain flat Sluggish geogrid segment resulted in weak demand for Polye
Slide 28: Others
Others 27 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
Slide 29: Others - Results Update
Others - Results Update Consolidated figures PARTICULARS Q3 FY23 Q3 FY22 % Y-o-Y 9M FY23 9M FY22 % Y-o-Y Segment Revenues 92.4 107.0 -13.7% 298.3 247.0 20.8% % Contribution to Revenues 2.7% 3.2% 2.7% 2.8% EBIT 9.2 8.6 6.8% 23.6 16.3 45.1% % EBIT Margins 9.9% 8.0% 7.9% 6.6% % Contribution to EBIT 1.3
Slide 30: Others - Key Highlights
Others - Key Highlights Coated Fabrics SRF continues to maintain its leadership position in the domestic market Consistent demand & a strong order book Improved contribution from the Value-Added Products Laminated Fabrics SRF maintained its pricing and volume leadership, with the facility operating
Slide 31: SRF's Community Engagement
SRF’s Community Engagement SRF Foundation received the 26th Bhamashah Award from the Government of Rajasthan for outstanding contribution in Education and infrastructural development of Government Schools in Alwar, Rajasthan Launched SmartShiksha Digital Bus in three locations, namely Kashipur (Utta
Slide 32: Outlook
Outlook 31 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
Slide 33: Outlook - Chemicals Business
Outlook - Chemicals Business Specialty Chemicals Moving up the value chain by accelerating qualifications of new molecules in Agro and Pharmaceuticals sectors, working on AIs to ensure a healthy product profile for the long term Key new product campaigns also coming up in the short term ROI accretiv
Slide 34: Outlook - Packaging Films Business
Outlook - Packaging Films Business Aluminium foil project in SRF Altech Limited remains on track Focus on enhancing sales from the new BOPP film line in India and introduction of new value-added products Expected pressure on BOPET and BOPP film margins to continue in the short run Focus on increasin
Slide 35: Outlook - Technical Textiles Business
Outlook - Technical Textiles Business Higher operating leverage and cost optimization by capacity rationalization across various manufacturing facilities Other sub-segments of Technical Textiles Business expected to contribute healthy volumes leading to significant contribution to the overall perfor
Slide 36: About Us
About Us Established in 1970, SRF Limited with an annual turnover of ₹12,313 crore (US$ 1.6 billion) is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company’s diversified business portfolio covers Fluorochemicals, Specialty Chemic
Slide 37: Thank You
Thank You 36 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.