Slide 1: Exchange filing cover letter for earnings call presentation
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 31.07.
Slide 2: Q1FY21 Results Presentation
SRF Limited We always find a better way July 31, 2020 Q1FY21 Results Presentation
Slide 3: Disclaimer
Disclaimer Certain statements in this document may be forward-looking statements. Such forward- looking statements are subject to certain risks and uncertainties like regulatory changes, local, political or economic developments, and many other factors that could cause our actual results to differ m
Slide 4: Contents
Contents Q1FY21 Results Overview 04 Q1FY21 Segmental Performance 09 Company Overview 24 Outlook 27 3
Slide 5: Q1FY21 Results Overview
Slide 6: Abridged Results Overview
Abridged Results Overview Consolidated figures Particulars (Rs. crore) Q1 FY21 Q1 FY20 % Y-o-Y Gross Operating Revenue 1,545.2 1,763.3 -12.4% EBITDA 382.4 359.9 6.3% EBITDA Margin (%) 24.8% 20.4% Depreciation 104.0 92.5 12.5% Interest 43.2 51.5 -16.2% ECF (Gain) / Loss 9.1 (15.1) -160.3% Profit Befo
Slide 7: Results Overview - Financial Overview
Results Overview - Financial Overview Key Financial Ratios Particulars FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 EBITDA Margin 17.59% 13.59% 20.43% 22.13% 21.42% 17.69% 19.00% 20.9% PAT Margin 6.69% 4.04% 8.78% 9.51% 10.87% 8.38% 8.33% 12.7% Net Debt to Equity 0.71 1.01 0.99 0.73 0.67 0.82 0.83 0.75 N
Slide 8: Results Overview - Revenue & EBIT
Results Overview - Revenue & EBIT Revenues (Rs. crore) EBIT (Rs. crore) 705.2 220.7 701.6 677.4 603.2 145.6 382.1 88.6 78.7 140.4 56.9 77.2 23.7 10.1 (14.0) (0.3) TTB CB PFB Others TTB CB PFB Others Q1 FY20 Q1 FY21 Q1FY20 Q1FY21 Consolidated figures CB – Chemicals Business; PFB - Packaging Films Bus
Slide 9: Results Overview - Revenue Share
Results Overview - Revenue Share Q1FY21 9.1% 1.5% 43.8% 45.6% CB Q1FY20 PFB 4.4% 21.6% TTB Others 39.8% 34.2% CB – Chemicals Business; PFB - Packaging Films Business; TTB – Technical Textiles Business; Others 8
Slide 10: Q1FY21 Segmental Performance
Packaging Technical Chemicals Others Films Textiles
Slide 11: Chemicals Business
Ghemicals Business
Slide 12: Chemicals Business - Results Update
Chemicals Business - Results Update Segment % Contribution % Contribution (Rs. crore) EBIT % EBIT Margins Revenues to Revenues to EBIT Q1FY21 705.2 45.6% 88.6 12.6% 30.0% Q1FY20 603.2 34.2% 78.7 13.0% 27.0% % Shift 16.9% 12.6% Consolidated figures 11
Slide 13: Chemicals Business - Key Highlights
Chemicals Business - Key Highlights Specialty Chemicals Business • Segment registered robust performance despite Covid-19 pandemic • Demand scenario remained healthy leading to faster ramp-up of capacities • Ongoing efforts to commercialize molecules for both the Agro and Pharma segment COVID-19 Imp
Slide 14: Chemicals Business - Key Highlights
Chemicals Business - Key Highlights Fluorochemicals Business • Segment registered subdued performance during the quarter due to: • Lower volumes and price of refrigerants in both domestic and export market • Lower sales from the solvents business • The Company is focused on developing new export mar
Slide 15: Chemicals Business - Key Highlights
Chemicals Business - Key Highlights 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 in
Slide 16: Packaging Films Business
acKkaging Films Business
Slide 17: Packaging Films Business - Results Update
Packaging Films Business - Results Update Segment % Contribution % EBIT % Contribution to (Rs. crore) EBIT Revenues to Revenues Margins EBIT Q1FY21 677.4 43.8% 220.7 32.6% 74.8% Q1FY20 701.6 39.8% 145.6 20.7% 50.0% % Shift -3.5% 51.6% Consolidated figures 16
Slide 18: Packaging Films Business - Key Highlights
Packaging Films Business - Key Highlights Packaging Films Business • The segment delivered encouraging performance due to: • Strong demand for both the BOPET & BOPP film segment • Strong focus on quality and delivery, along with several sustainability and R&D initiatives • Increased sales of Value A
Slide 19: Technical Textiles Business
Technical Textiles Business 18
Slide 20: Technical Textiles Business - Results Update
Technical Textiles Business - Results Update Segment % Contribution % EBIT % Contribution to (Rs. crore) EBIT Revenues to Revenues Margins EBIT Q1 FY21 140.4 9.1% (14.0) -10.0% -4.8% Q1 FY20 382.1 21.7% 56.9 14.9% 19.5% % Shift -63.2% -124.6% Consolidated figures Note: The numbers above do not inclu
Slide 21: Technical Textiles Business - Key Highlights
Technical Textiles Business - Key Highlights Tyre Cord Fabric, Belting Fabric & Polyester Industrial Yarn • Performance of the Tyre Cord Fabric segment remained under severe pressure due to: • COVID-19 related slump in the auto sector demand • A challenging macro economic environment • Margins from
Slide 22: Others
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Slide 23: Others - Results Update
Others - Results Update Segment % Contribution % EBIT % Contribution to (Rs. crore) EBIT Revenues to Revenues Margins EBIT Q1 FY21 23.7 1.5% (0.28) -1.2% -0.1% Q1FY20 77.2 4.4% 10.12 13.1% 3.5% % Shift -69.3% -102.8% Consolidated figures 22
Slide 24: Others - Key Highlights
Others- Key Highlights Coated Fabrics • Markets have shown signs of recovery with demand beginning to pick up from June 2020 onwards • Q1 is traditionally the peak season for this Business, which has also helped in gaining some momentum Laminated Fabrics • Laminated Fabrics manufacturing facility at
Slide 25: Company Overview
Slide 26: Overview - Business Profile
Overview - Business Profile Revenue EBIT No. of Plants Chemicals Fluorochemicals Specialty Chemicals • Refrigerants • Organic intermediates for agro & 2975 511 2 • Pharma propellants pharma • Industrial chemicals Packaging Films for Flexible Packaging Films 2604 556 5 • Bi-axially Oriented Polyethyl
Slide 27: Overview Growth Levers
Overview Growth Levers Focus on building Nurture innovation leadership businesses through R&D Build and maintain Reposition portfolio market leadership in towards knowledge business segments based products Build a Company known and respected for its R&D capabilities Focus on building knowledge bas
Slide 28: Outlook
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Slide 29: Outlook - Chemicals Business
Outlook - Chemicals Business Order book for FY 21 stable and growth projections likely to be met despite initial COVID-19 related challenges Focus on expanding market through accelerating qualifications for new molecules in both Agro and Pharmaceutical sectors Demand for HFCs from International mark
Slide 30: Chemicals Business – Project Update
Chemicals Business – Project Update Fluorochemicals Business Specialty Chemicals Business PTFE project delayed by approximately one year Feb’20 capex sanction of Rs. 238 crore • Global demand likely impacted by the COVID • Demand remains robust and inquiry outbreak pipeline remains healthy • Market
Slide 31: Outlook - Packaging Films Business
Outlook - Packaging Films Business Overall the global packaging film industry is witnessing improvement in capacity utilization Commissioned a BOPET film line of 40,000 TPA at Thailand in May 2020. The business to focus on sales ramp up. However in short term, supply overhang in BOPET likely to put
Slide 32: Outlook - Technical Textiles Business
Outlook - Technical Textiles Business Due to a challenging macro economic environment, the demand for NTCF will continue to remain under pressure H2 FY 21 Likely to be better than H1 FY 21 Capacities rationalization across various plants to assist higher operating leverage and cost optimization Othe
Slide 33: About Us
About Us Established in 1970, SRF Limited with an annual turnover of ₹7,062 crore (US$ 942 million) is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company’s diversified business portfolio covers Technical Textiles, Fluorochemical
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