Punjab Chemicals & Crop Protection Ltd. · NSE:PUNJABCHEM
Punjab Chemicals & Crop Protection — Q4 FY2024 Earnings Presentation
34 slides from Punjab Chemicals & Crop Protection's earnings presentation, May 7, 2024
Slide 1: Exchange filing cover letter
Date: May 7, 2024 BY E FILING The Manager The Manager Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited MUMBAI-400 001 MUMBAI-400 051 Re: BSE Scrip Code: 506618 NSE Scrip Symbol: PUNJABCHEM Sub: Investor Presentation - Financial Overview – Q4 &
Slide 2: Q4 & FY24 Result Presentation
Q4 & FY24 Result Presentation May 2024
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Punjab Chemicals and Crop Protection Ltd (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subsc
Slide 4: Table of Contents
Table of Contents 01 Result Highlights 02 Company Overview 0 03 Business Strategy 04 Agrochemicals Industry Overview 05 Performance Track Record
Slide 5: Result Highlights
Result Highlights
Slide 6: Result Highlights
Result Highlights Q4 FY24 FY24 ₹ 197 Cr ₹ 13 Cr ₹ 2 Cr ₹ 934 Cr ₹ 113 Cr ₹ 54 Cr Revenue EBITDA PAT Revenue EBITDA PAT • Registered a Revenue of ₹ 197 Cr in Q4 FY24 and for FY24 at ₹ 934 Cr, pricing pressure in certain markets led to discounted sales • Gross Margin for FY24 stood at 38.7%, grew by 1
Slide 7: Q4 FY24 Financial Performance
Q4 FY24 Financial Performance (in ₹ cr, except margin) REVENUE GEOGRAPHICAL SPLIT 195 197 Domestic 85 94 195 197 International 110 102 Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 EBITDA & EBITDA MARGIN PAT & PAT MARGIN 10.8% 6.7% 1.6% 1.2% 21 13 3 2 Q4 FY23 Q4 FY24 Q4 FY23 Q4 FY24 6
Slide 8: FY24 Financial Performance
FY24 Financial Performance (in ₹ cr, except margin) REVENUE GEOGRAPHICAL SPLIT 1006 934 Domestic 425 450 1,006 934 International 581 484 FY23 FY24 FY23 FY24 EBITDA & EBITDA MARGIN PAT & PAT MARGIN 12.2% 12.1% 6.1% 5.7% 123 113 61 54 FY23 FY24 FY23 FY24 7
Slide 9: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (In ₹ Cr) Q4 FY24 Q4 FY23 YoY % Q3 FY24 QoQ % FY24 FY23 YoY% Revenue 196.5 195.0 0.8% 214.1 -8.2% 934.2 1,006.2 -7.2% COGS 120.9 119.4 125.6 572.4 636.2 Gross Profit 75.6 75.6 88.6 361.8 370.1 Gross Profit Margin % 38.5% 38.8% 41.4% 38.7% 36.8% Employ
Slide 10: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Particulars (In Rs Crs.) Mar’24 Mar’23 Particulars (In Rs Crs.) Mar’24 Mar’23 EQUITY AND LIABLITIES ASSETS Equity Non-Current Assets Equity Share Capital 12.3 12.3 Property, Plant and Equipment 230.3 216.6 Other Equity 317.9 268.4 Capital Work in Progress 11.5 18
Slide 11: Company Overview
Company Overview
Slide 12: Our Company
Our Company Established in 1975 as Punjab United Pesticides & Chemical Ltd (PUPCL), the company has now evolved into Punjab Chemicals and Crop Protection Ltd. We have separate synergistic Agrochemicals, Pharmaceuticals and Industrial chemical divisions with state-of-the-art manufacturing facilities
Slide 13: Our multi-decade story of growth and value-creation
Our multi-decade story of growth and value-creation Punjab United Pesticides & The Company established a Chemicals Limited was new manufacturing facility The Company extended established as a collaboration The Company diversified its (pharmaceutical product) into contract research and between Excel
Slide 14: Manufacturing Process
Manufacturing Process 2 Manufacturing facilities at Derabassi & Lalru in Punjab || 1 facility in Pune, Maharashtra with food grade certification. Derabassi & Lalru plants are certified with ISO 9001:2015 , ISO 14001:2015 and ISO 45001:2018. Pune unit is certified with GMP & ISO 22000 Total Reactor C
Slide 15: Synergistic Product Portfolio
Synergistic Product Portfolio Divisions Major chemistries Product Category ▪ Friedel craft ▪ Chlorination ▪ Hydrazine Fungicide, Herbicide. Manufacturing ▪ Hetrocyclic Agrochemicals/ Intermediates ▪ Oxidation patented products under long term ▪ Bromination ▪ Benzylation agreement/ in-house R&D ▪ Met
Slide 16: Annual Production (MT) & Capacity Utilisation (%)
Annual Production (MT) & Capacity Utilisation (%) Derabassi Lalru 82% 73% 80% 85% 75% 68% 60% 71% 73% 70% 54% 47% 1,610 23,797 24,338 22,414 1,391 1,402 1,345 19,914 17,543 17,497 1,143 1,018 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 Note : New products have been commercialized and
Slide 17: R&D Capabilities
R&D Capabilities Our R&D talent pool 1 Advanced R&D facility at both Derabassi & Lalru 2 Both facilities have kilo lab & pilot plants for scale up & 28 commercial trials. Strength of R&D Team 3 Adding new chemistry skill set 33 Strength by Q2 FY25 4 ~40% of the new enquiries from non-agchem space 5
Slide 18: Growth Drivers
Growth Drivers Existing products New products Agro Speciality Backward Improvement in New Chemicals Chemicals New Markets Integration Efficiency Registration • Commercial Order received for some “Advanced Intermediates” and “Speciality Chemicals”, and supplies have begun. Long terms contracts being
Slide 19: Environment, Health & Safety Measure
Environment, Health & Safety Measure Upgraded Effluent Treatment Plant at Plants equipped with Derabassi and facility is being occupational health facilities, 1 upgraded to more efficient system 5 professional trained staff and with latest technology instituted practices. Member of new Common Strong
Slide 20: Our Global Clientele
Our Global Clientele Target regions for next leg of growth: Latin America, South Asia, European Union The brand names /logos mentioned are the property of their respective owners and are used here for identification purpose only 19
Slide 21: Leadership Team: Board of Directors
Leadership Team: Board of Directors Board Composition Mr. Mukesh D. Patel Mr. Shalil Shroff Mr. Vijay Rai Chairman & Managing Independent Independent Director Director Director More than 50% of 55% the Board members are Independent Directors Ms. Tara Ms. Aruna Bhinge Mr. Sheo Prasad Subramaniam Inde
Slide 22: Leadership Team: Key Management Team
Leadership Team: Key Management Team Mr. Vinod Gupta Mr. Ashish Nayak Ms. Rishu Chatley Dr. Vijay Kaushik Chief Executive Officer Chief Financial Officer Company Secretary Assistant Vice President- R & D • Chemical Engineer, IIT-B & PGPX, IIM-A • Chartered Accountant and has a bachelor degree of • M
Slide 23: Business Strategy
Business Strategy
Slide 24: Business Model
Business Model Identify Niche Products/ Customers Partner for Contract Manufacturing with Basket of Products Target niche products with high growth potential. Offer attractive and cost- effective solution Target clients - Global Agrochemical/ Specialty Long term engagement favorable for both parties
Slide 25: Strategic Advantage
Strategic Advantage Manufacturing and Consistent Low-Cost Operator R&D Capability Track Record Developed an efficient cost Availability of technically Historical association with competitive process over the trained manpower , Domestic clients helped last decade and are extra production capacity to
Slide 26: Corporate Social Responsibility
Corporate Social Responsibility
Slide 27: CSR Initiatives
CSR Initiatives • PCCPL works on philosophy of “let us grow together”. • Our main focus is on quality education, promoting healthcare, rural development and ensuring environmental sustainability. • The company spent INR 1.8 cr in FY24 towards achieving the CSR goals in the given three areas Communit
Slide 28: CSR Initiatives
CSR Initiatives Education Health Community Development 27
Slide 29: Agrochemicals Industry Overview
Agrochemicals Industry Overview
Slide 30: Indian Agrochemicals Industry – Long Term Perspective & Way Forward
Indian Agrochemicals Industry – Long Term Perspective & Way Forward • The Indian Agrochemical market size is estimated to reach $13.08 bn in 2029, Outlook of pesticides production for technical grade ('000 tonnes) growing at a CAGR of 4% • India ranks 4th in terms of production and exports of agroch
Slide 31: Performance Track Record
Za Performance Track Record | ; An We
Slide 32: Performance Track Record
Performance Track Record Revenue (₹ cr) EBITDA (₹ cr) PAT (₹ cr) +27.9% +49.2% +14.2% 1,006 140 84 933 934 123 113 96 61 678 54 550 49 42 11 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Revenue Split (₹ cr) EBITDA Margin (%) PAT Margin (%) Domestic Export 1,006 15.0 933
Slide 33: Performance Track Record
Performance Track Record Capital Structure (₹ cr) Working Capital Analysis D/E 0.9x 0.6x 0.4x 0.3x 0.4x 77 32 52 45 44 121 89 95 85 82 92 96 87 81 330 -75 88 281 -85 -80 226 -100 -102 145 98 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Debt Equity Receivable Days Inventory Days Payable Days Ret
Slide 34: Thank You
Mr. Ashish Nayak Chief Financial Officer investorhelp@punjabchemicals.com Mr. Sumeet Khaitan Thank You sumeet.khaitan@linkintime.co.in +91 70213 20701 Mr. Bhavya Shah bhavya.shah@linkintime.co.in +91 80827 48577
Punjab Chemicals and Crop Protection — Q4 FY2024 Earnings Presentation on 6ix