E.i.d.-parry (india) Limited · NSE:EIDPARRY
E.i.d.-parry (india) — E.I.D. - Parry (India) — FY2024 Earnings Presentation
52 slides from E.i.d.-parry (india)'s earnings presentation, May 24, 2024
Slide 1: Regulation 30 Intimation - Investor Presentation
..~,.. 11;,}_~RYS E.I.D. - Parry (India) Limited Regd.Office: Dare House, 234,N.S.C. Bose Road, Parrys Corner, Chennai 600 001, India. Tel: 91.44.25306789 Fax: 91.44.25341609 I 25340858 CIN:L24211TN1975PLC006989 Website : www.eidparry.com May 24, 2024 BSE Limited National Stock Exchange of India Lim
Slide 2: FY 23-24 Performance Investor presentation May 2024
• murugappa - • FY 23-24 Performance Investor presentation May 2024 E.I.D. - Parry (India) Ltd. 1
Slide 3: Safe Harbour
E.I.D. - Parry (India) Ltd.- Safe Harbour ~ murugappa Certain statements made in this document may constitute forward-looking statements. These forward-looking statements are based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and,
Slide 4: Murugappa Group - One river, many tributaries
Murugappa Group - One river, many tributaries ~ murugappa Murugappa Group (FY23) ₹ 74,220 Cr ' ₹ 3,90,000 Cr ' ₹ 10,424 Cr ₹ 6,846 Cr 73,000 29 ' 9 Market Turnover EBITDA PAT People Businesses Listed Companies Capitalization1 Group Companies Agriculture Engineering Financial Services Other Businesse
Slide 5: EID Parry Snapshot
EID Parry Snapshot ~ murugappa One of the leading sugar companies in India First company Chennai India’s Leading Market Listed ESG Entity Leader in India to Produce Sugar Headquartered By Dun & Bradstreet in Southern India 2300+ ~40.8K TCD 140 MW 417 KLPD Sugarcane Crushing Employees Co-generation C
Slide 6: Our Geographic presence
Our Geographic presence ~ murugappa EID Parry has 6 sugar plants & 1 standalone distillery across 3 southern states .- ---------- - Haliyal Sankili Sugarcane Power Distillery Location (TCD) (MW) (KLPD) Nellikuppam (TN) * 7,500 25 75 1i1/~ ... .. -~ ~ r - . • ....~. Pugalur (TN) 4,800 22 ·r~ . " ir ,
Slide 7: Sugar & Biofuel Industry
~ murugappa Sugar S g & Biofuel ·o el Industry dustry 6
Slide 8: Global Sugar Scenario
Global Sugar Scenario ~ murugappa Global Sugar Consumption Dip due to Covid Global sugar production is slated to fall from mtonnes last year due to lower production at Brazil, 200 partially offset by increase in EU & Thailand. Source: Czarnikow 182,0 179.1 1W 1A3 1Th6 16R9 171,2 172.2 170,0 171.3 16
Slide 9: Post SY23-24 surplus production the SY24-25 could see minor tightness
Post SY23-24 surplus production the SY24-25 could see minor tightness ~ murugappa Global sugar balance ;;J>;:J(kan; -.-s.a11 Vlews . swd,..,.. .., SelN:llon Tool - • million mtrv 15 10 5 0 -5 II I I - I -- ■ - 2.28 ca [I 5.58 ~ -0 .28 Raw Sugar Prices c/lb - 10 2012/13 2014/ 15 2016/ 17 2018/ 19 202
Slide 10: Key Policies- GoI
Key Policies- GoI ~ murugappa Key Policies SY 20-21 SY 21-22 SY 22-23 SY 23-24 MSP- (INR/kg) 31 31 31 31 2850 for 2900 for 10.00% 3050 for 10.25% 3150 for 10.25% FRP- (INR/MT) 10.00% recovery recovery recovery recovery Release quota for Domestic Yes Yes Yes Yes Sales 6 MMT 6MMT up to May Sugar Expor
Slide 11: Indian Sugar Balance
Indian Sugar Balance ~ murugappa Opening Season Diversion to Domestic Sugar Year UOM Exports Closing Stock Stock Production Ethanol Consumption 2022-23 LMT 62 363 38 270 61 55 2023-24(E) LMT 55 340 20 285 0 90 Compared to earlier estimates, key growing states of Karnataka and Maharashtra witnessed a
Slide 12: Update on Ethanol Blending Program (EBP)
Update on Ethanol Blending Program (EBP) ~ murugappa Restriction in SY 23-24 Ethanol Expected diversion for Ethanol in SY 2023-24 is ~ 20LMT of Sugar (against 38LMT diverted in SY 2022-23). Overall blending is 12% as of March’24. 20% Blending E20 petrol is available at 12,000 fuel retail outlets and
Slide 13: Sugar Strategies
~ murugappa ~ g~lwt!Y ~1842 Sugar Strategies 12
Slide 14: Sugar Strategies
Sugar Strategies ~ murugappa Optimize Cane Volume 01 Improve farm outcomes Focus on Institutional business 02 Maximize realizations Drive Consumer Product Group 03 Leverage the Brand and penetrate the market Multi Feed & Multi Product Distilleries 04 Stay agile with policy changes 05 Energy Conserva
Slide 15: Sugar Strategy 1. Optimize Cane Volume | Improve farm outcomes
Sugar Strategy- 1. Optimize Cane Volume | Improve farm outcomes ~ murugappa Cane Crush [LMT] Gross Recovery [%] 11.7% 11.9% 11.4% 11.5% 11.5% 11.2% 51.8 10.0% 10.2% 50.2 50.0 9.8% 9.2% 9.0% 8.8% 9.4% 9.3% 8.8% 8.7% 8.7% 8.5% 39.7 37.3 36.7 24.6 22.9 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 27.4 TN AP KN
Slide 16: Focus on Institutional business | Maximize realizations
Sugar Strategy- 2 - Focus on Institutional business | Maximize realizations ~ murugappa Institutional sales volume [LMT] Institutional Realization [INR/KG] 38.0 2.09 Covid 1.71 1.80 36.9 1.65 1.63 1.21 35.3 34.5 33.6 32.3 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 Top Cu
Slide 17: Product Portfolio – B2B Business
Sugar Strategy- 2 - Focus on Institutional business | Maximize realizations ~ murugappa Product Portfolio – B2B Business Aspiration for sweetener as a food ingredient Plantation White Sugar / Refined Sugar Graded Sugar • Maximize and grow the Refined / Pharma Sugar for for Business Beverages, Pharma
Slide 18: Drive Consumer Product Group - Sweetener Category
Sugar Strategy- 3. Drive Consumer Product Group | Leverage the Brand and penetrate the market ~ Sweetener Category murugappa Retail sales growth Retail Sales realization [INR/Kg] 522 1,60,000 500 39.0 1,40,000 369 400 1,34,095 1,20,000 1,00,000 266 36.7 36.9 300 214 1,00,419 80,000 189 35.9 200 120
Slide 19: Sweetener Category - Moving Average Trend and Distribution Outlets
Sugar Strategy- 3. Drive Consumer Product Group | Leverage the Brand and penetrate the market ~ Sweetener Category murugappa Moving Average Trend - April'21 to Mar'24 Number of distribution outlets 140000 1,10,000 130000 120000 79,000 110000 100000 37,000 90000 20,400 80000 in MT 70000 FY21 FY22 FY2
Slide 20: More focus on Browns and Premium segments
Sugar Strategy- 3. Drive Consumer Product Group | Leverage the Brand and penetrate the market Sweetener Category murugappa r- - - -More - focus - -on Browns - - and- Premium - - -segments - - - - -, Launched in March’24 Superior Health Benefit Parry’s Jaggery Natural Brown Low GI @ Parry’s Gold Suga
Slide 21: Our presence in branded sweetener market – South
Sugar Strategy- 3. Drive Consumer Product Group | Leverage the Brand and penetrate the market ~ Sweetener Category murugappa Our presence in branded sweetener market –South 20
Slide 22: Sweetener Category strategy
Sugar Strategy- 3. Drive Consumer Product Group | Leverage the Brand and penetrate the market ~ Sweetener Category murugappa ◼ Build portfolio of next gen sweeteners to ◼ Focus in South India straddle across price points and to meet ◼ Consolidate in Metro, Class 1 and Class 2 consumer’s basket requi
Slide 23: Staples Category
Sugar Strategy- 3. Drive Consumer Product Group | Leverage the Brand and penetrate the market ~ Staples Category murugappa Consumer products play presents the next phase of growth opportunity for EID 1. Packaged staples has a large Total Addressable Market (TAM) of ~ INR 9 L Cr Eatbetter • Highly un
Slide 24: Staples Category - Product catalogue
Sugar Strategy- 3. Drive Consumer Product Group | Leverage the Brand and penetrate the market ~ murugappa Staples Category Millets Parry's S1aples producl ca1alogue Parry's Parry's Parry's Parry's Sprouted Ragi Flour Little Millet Barnyard Millet Kodo Millet ox- . Elfiop iron-rich goodness in everpm
Slide 25: A few snippets of the Staples Launch
Sugar Strategy- 3. Drive Consumer Product Group | Leverage the Brand and penetrate the market ~ Staples Category murugappa A few snippets of the Staples Launch = 606 15.7 k 4 posts follower, followlng Parry's Food• Product/service Eat better every meal! Introducing Parry's healthy range of staples @
Slide 26: Multi Feed & Multi Product Distilleries | Stay agile with policy changes
Sugar Strategy- 4. Multi Feed & Multi Product Distilleries | Stay agile with policy changes ~ murugappa Distillery Volume [LL] Distillery Realization [INR/Ltr] 62.20 1,242 59.70 60.39 1,044 55.65 57.10 847 662 627 723 594 646 205 145 471 46.12 188 457 482 406 376 399 519 FY'19 FY'20 FY'21 FY'22 FY'2
Slide 27: Energy Conservation | Lead ESG Initiatives
Sugar Strategy- 5. Energy Conservation | Lead ESG Initiatives ~ murugappa E.I.D. - Parry (India) Limited is being listed as ‘India’s Leading Listed ESG Entity’ by Dun & Bradstreet Water Greenery Energy from Conservation development renewable fuel through instead of fossil planting of fuel saplings •
Slide 28: Project NANNEER
Sugar Strategy- 5. Energy Conservation | Lead ESG Initiatives ~ murugappa Empowering communities & restoring ecosystems through Project NANNEER • The Company made a pioneering leap towards community water resource management projects through its flagship Project NANNEER • Under the first phase, seve
Slide 29: Company Performance
COMPANY PERFORMANCE 28 28
Slide 30: Sugar Segment sales | Sugar
Sugar Segment sales | Sugar ~ murugappa Sugar Sales mix [LMT] 5.19 4.64 4.94 0.07 4.04 4.00 1.52 3.72 1.69 0.59 1.34 0.35 0.81 1.15 1.00 0.72 0.54 0.60 1.65 2.09 1.21 1.63 1.80 1.71 1.45 1.04 1.13 0.66 0.90 0.87 • Better sales realization. FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 ■ Trade ■ Institution ■
Slide 31: Sugar Segment sales | Distillery & Power
Sugar Segment sales | Distillery & Power ~ murugappa Distillery sales [LL] and Avg realization[INR/Ltr] Power Export [LU] and Power Tariff [INR/U] 1400 62.22 3000 6.00 59.70 60.39 55.65 57.10 60.00 5.26 1200 1,242 2500 2700 4.73 5.00 46.12 50.00 4.35 4.15 1000 3.79 1,044 2000 3.67 2187 4.00 2141 40.
Slide 32: 5 Year Standalone performance
5 Year Standalone performance ~ murugappa EID Financial Performance FY’19 FY’20 FY’21 FY’22 FY’23 FY’24 INR Cr Revenue from Operations 1,845 1,875 2,024 2,489 2,895 2,809 FY’19 PBIT includes EBIDTA 414 235 1,271 478 416 307 • Sale of Bio Products division and Parry PBIT (Before Exceptional) 57 116 4
Slide 33: Sugar Division | Cash Fixed Cost and EBITDA
Sugar Division | Cash Fixed Cost [CFC] and EBITDA ~ murugappa CFC/Ton [INR/MT] EBITDA/Ton [INR/MT] 835 583 768 482 488 732 347 329 663 629 537 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'20 FY'21 FY'22 FY'23 FY'24 Increase in Cash Fixed Cost in FY’24 majorly due to: Increase in cane cost, drop in recover
Slide 34: Standalone Debt Position
Standalone Debt Position ~ murugappa Standalone debt position [INR Cr] Total Finance Cost [INR Cr] 136 113 492 93 375 769 355 - 353 46 44 457 543 36 200 4 293 101 155 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 ■ Long Term ■ Short Term FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 Long term loan is for expansion proj
Slide 35: Consolidated Nutra Performance
~ murugappa Consolidated Nutra Performance 34
Slide 36: Nutraceuticals | Consolidated Performance
Nutraceuticals | Consolidated Performance ~ murugappa Nutraceuticals product mix Revenue from operations [INR Cr] 277 128 254 259 114 143 67 219 97 127 210 210 80 117 96 65 83 47 69 51 27 30 44 45 FY’19 FY’20 FY’21 FY'22 FY'23 FY’24 ■ Greens ■ Joint Health ■ Prostate Health & Others FY’19 FY’20 FY’2
Slide 37: Sugar Refinery - Sweeter up the value chain
~ murugappa Sugar Refinery Sweeter up the value chain Adding value & volume to manage restricted spread environments, increase profitability and create premium customer segments 36 36
Slide 38: Refinery Business Profile
Refinery - Business Profile ~ murugappa Customers Overview ..-. Capacity: 9 LMT I\ LVEAN LDC --·~·--· • lffl!ft ~ S&D ~ FY 24 Sales: 8.30 LMT .M.,.ondelez.. • 1• p- ensi - ~ FY24 Revenue: INR 4400 Cr 1.. ,...--,;-,....,;t t-' - Refinery Business ~ Profile Certifications Suppliers Raw Sugar: Ex Brazi
Slide 39: Global Sugar consumption continues to grow, Supply Deficit in near term
Global Sugar consumption continues to grow, Supply Deficit in near term ~ murugappa Raw Sugar Prices c/lb Global sugar balance No.11 Raw sugar Futures Price 40 c/ lb million mtrv 15 Source: Czarnikow 10 5 0 -5 II ■ I - I -- ■ - 2 .28 c::ai 5 .58 [I ~ -0 .28 30 20 10 \ , , / ' ~ Raw - 10 2012/13 2014
Slide 40: Refinery | Journey so far
Refinery | Journey so far.. ~ murugappa 70 Refinery Spread ($/MT) 60 Profitable & 66 62 66 50 Sustainable Business 40 52 53 30 42 44 42 43 Forex Hedge Desk 20 32 10 Commodity Hedge Desk 0 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY 24 Factory Sales ❖ Premiums to be Refinery Costs ($/MT) ❖ Costs
Slide 41: Refinery | Improve efficiencies and reduce the Cost of Conversion
Refinery | Strategy : Improve efficiencies and reduce the Cost of Conversion ~ murugappa Refinery Costs ($/MT) 80 75 70 Impact of Coal price Key Initiatives underway 60 53 ➢ Debottlenecking to increase 51 52 51 47 49 melting rate and reduce energy 50 consumption 40 41 40 37 ➢ Usage of biomass blende
Slide 42: Refinery | Performance
Refinery | Performance ~ murugappa Operational Performance UOM FY’19 FY’20 FY’21 FY’22 FY’23 FY’24 Capacity LMT 8.00 9.00 9.00 9.00 9.00 9.00 FY’21 PBT includes Melting Rate MT/Day 2,445 2,700 2,564 2,595 2,649 2,912 • Inventory write off (USD 16.64 Production LMT 6.99 6.37 7.90 6.11 7.78 8.26 Mn) B
Slide 43: Refinery | EBITDA Walkthrough FY23 vs. FY24
Refinery | EBITDA Walkthrough FY23 vs. FY24 ~ murugappa All values in $ Mn 10.00 0.46 USD 9 Mn 1.52 * 8.00 1.68 - 6.00 1.00 7.15 4. 00 2.00 (2.00) (2.81) (4.00) FY’23 EBITDA Spread Variable Cost Volume Cash Premium Others FY’24 EBITDA * The Container % moved from 3% in FY’23 to 23% in FY’24 42
Slide 44: Consolidated Financial Performance
~ murugappa CONSOLIDATED FINANCIAL PERFORMANCE Consolidated Financial Performance 43
Slide 45: Consolidated Financials (excluding Coromandel International Ltd.)
Consolidated Financials (excluding Coromandel International Ltd.) ~ murugappa EID Financial Performance FY’20 FY’21 FY’22 FY’23 FY’24 INR Cr Revenue from Operations 3,996 4,383 4,412 5,617 7,355 EBIDTA 307 1,259 517 368 387 PBIT Before Exceptional 145 301 370 128 195 PBIT 145 1,016 356 172 195 PBT (
Slide 46: Consolidated external Borrowings (excluding Coromandel International)
Consolidated external Borrowings (excluding Coromandel International) ~ murugappa Sugar Segment FY’19 157 FY’20 287 FY’21 486 FY’22 104 FY’23 508 - INR Cr FY’24 1,039 Refinery 1,311 1,187 203 647 614 95 Nutra 46 68 68 70 65 79 Others 655 731 39 - - - Total 2,169 2,273 796 821 1,187 1,213 Sugar – ➢ L
Slide 47: Consolidated ROCE (excluding Coromandel International)
Consolidated ROCE (excluding Coromandel International) ~ murugappa FY 20-21 FY 21-22 FY 22-23 FY 23-24 Segment Capital Capital Capital Capital Employed ROCE (%) Employed ROCE (%) Employed ROCE (%) Employed ROCE (%) (INR Cr) (INR Cr) (INR Cr) (INR Cr) Sugar 1,593 5% 1,425 8% 2,001 9% 2,547 1% Refiner
Slide 48: Awards & Accolades
Awards & Accolades ~ murugappa Mr. S Suresh, MD received Mr. Muthiah Murugappan EID Parry has been Parry’s, the only sugar brand the ‘Best CEO- Agriculture & received “The Economic recognized as the ‘Best to be conferred the Allied’ award from Union Times 40UnderForty” award Sugar Plant in Private S
Slide 49: Awards & Accolades
Awards & Accolades ~ murugappa • EID Parry was honored with the ‘Most Iconic Organization Award’ on May 11, 2023 at Coimbatore Leadership Awards in appreciation of the best practices followed by the Company in HR strategy, promoting future ready business practices, best employee recognition programs
Slide 50: Summary
Summary ~ murugappa Sustained profitability Core sugar operations – • Consistent efforts to improve • Driving execution for higher cane planting, EBITDA/Ton of cane crushed for yields, & crushing maximization through better cash flow management and operational efficiencies rationalization of debt Di
Slide 51: Glossary
Glossary ~ murugappa --- AP CoP Andhra Pradesh Cost of Production --- ACRONYMS Ltr LU Litre Lakh Unit --- Cr Crore EBIT Earnings Before Interest & Tax EBITDA Earnings Before Interest, Tax & Depreciation --- MMT Mn MSP Million Metric Tonne Million Minimum Selling Price --- EBP EHS ESG Ethanol Blendin
Slide 52: Thank you!!
~ murugappa Thank you!! - -~? ;-. --\~.r· ~ -r;;) - -:.-.1 r Thank You Corporate Office: For Investor relations Contact: 234 NSC Bose Road, investorservices@parry.murugappa.com Chennai-01 51
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