Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q4 FY20 Earnings Presentation
31 slides from Dcm Shriram's earnings presentation, Jun 3, 2020
Slide 1: DCM Shriram Ltd. Q4 & FY20 Results Presentation
DCM Shriram Ltd. Q4 & FY20 - Results Presentation June 3, 2020 1
Slide 2: Safe Harbour
Safe Harbour Certain statements in this document may be forward-looking. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results t
Slide 3: Table of Content
Table of Content Title Slide No. FY20 Key Highlights 4 Returns & Leverage 6 Financial Snapshot 7 Segment Performance 8 Q4 FY20 Key Highlights 9 Financial Snapshot 10 Segment Performance 11 Management’s Message 12 Business in Covid-19 13 Segmental Details Chloro-Vinyl Businesses 16-21 Sugar 22-24 Agr
Slide 4: FY20 - Key Highlights
FY20 - Key Highlights 1. Total Revenues for the year at Rs 7,767 crores (FY 2019 : Rs 7,771 crores). a) The revenues were positively impacted by: i. Commissioning of additional 332 TPD Chlor-Alkali capacity led to an increase in volumes by 13% YoY. ii. Commissioning of second distillery of 200 KLD c
Slide 5: FY20 - Key Highlights
FY20 - Key Highlights b) PBDIT for the year for Chemicals business was lower by Rs. 340 crores a decline of 35% YoY. The ECU realization went down by 23% YoY. The impact was partly mitigated by volume increase by 13% YoY and lower coal costs. 3. A charge of Rs 14.8 crores is taken in FY20 for sale o
Slide 6: FY20 - Returns & Leverage
FY20 - Returns & Leverage PBDIT to Net Sales Net Debt/ EBITDA 1.25 18.7% 16.7% 0.87 FY19 FY20 FY19 FY20 ROCE* Capital Employed (excluding CWIP) 29.9% 6,423 19.1% 5,010 Rs Cr FY19 FY20 FY19 FY20 *ROCE calculated on average of quarter end capital employed for last 4 quarters. DCM Shriram Ltd. – Q4 & F
Slide 7: FY20 - Financial Snapshot
FY20 - Financial Snapshot Revenue (Net) PBDIT Depreciation 7,771 7,767 1,456 1,295 219 157 FY19 FY20 FY19 FY20 FY19 FY20 PBIT Finance Cost PAT 906 1,299 717 1,076 164 119 FY19 FY20 FY19 FY20 FY19 FY20 Note: All figures in Rs. crores Net revenue includes operating income DCM Shriram Ltd. – Q4 & FY20
Slide 8: FY20 - Segment Performance
FY20 - Segment Performance Rs crores Revenues PBIT PBIT Margins % YoY % YoY % Segments FY19 FY20 FY19 FY20 FY19 FY20 Change Change Chemicals 1,914.7 1,724.8 (9.9) 910.4 553.0 (39.3) 47.5 32.1 Plastics 588.0 553.4 (5.9) 83.2 98.9 19.0 14.1 17.9 Sugar 2,353.0 2,521.6 7.2 354.6 390.7 10.2 15.1 15.5 SFS
Slide 9: Q4 FY20 - Key Highlights
Q4 FY20 - Key Highlights 1. Net Revenues at Rs 1,917 crores (Q4 FY19 : Rs 1,888 crores). a) The revenues were positively impacted by: i. Higher domestic Sugar volumes up by 38% YoY and distillery volumes up 83% YoY consequent to commissioning of second distillery 200 KLD and Higher sugar prices 4% Y
Slide 10: Q4 FY20 - Financial Snapshot
Q4 FY20 - Financial Snapshot Revenue (Net) PBDIT Depreciation 1,917 439 1,888 355 60 44 Q4 FY19 Q4 FY20 Q4 FY19 Q4 FY20 Q4 FY19 Q4 FY20 PBIT Finance Cost PAT 395 293 295 47 201 24 Q4 FY19 Q4 FY20 Q4 FY19 Q4 FY20 Q4 FY19 Q4 FY20 Note: All figures in Rs. crores Net revenue includes operating income DC
Slide 11: Q4 FY20 - Segment Performance
Q4 FY20 - Segment Performance Rs crores Revenues PBIT PBIT Margins % YoY % YoY % Segments Q4 FY19 Q4 FY20 Q4 FY19 Q4 FY20 Q4 FY19 Q4 FY20 Change Change Chemicals 524.0 354.0 (32.4) 244.3 58.9 (75.9) 46.6 16.6 Plastics 152.1 130.3 (14.3) 26.7 22.2 (16.9) 17.5 17.0 Sugar 637.4 838.3 31.5 227.4 194.6 (
Slide 12: Management's Message
Management’s Message Commenting on the performance for the quarter and year ending March 2020, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: “We continue to progress our strategic direction of enhancing s
Slide 13: Business in Covid-19 scenario (1/2)
Business in Covid-19 scenario (1/2) Covid -19 impact on Business is as follows: The lockdown as per the directions of Government of India and the States from March 24th onwards, affected part of our operations: Sugar and Bioseed businesses, being categorized as essential, continued normal oper
Slide 14: Business in Covid-19 scenario (2/2)
Business in Covid-19 scenario (2/2) The Company has responded to Covid – 19 as follows: Social Distribution of Sodium Hypochlorite a disinfectant from our Chemical Plants and alcohol based sanitizers from our Sugar plant. Distribution of Masks and Gloves across locations among communities. S
Slide 15: Segmental Details
Segmental Details • Caustic Soda (1,845 TPD) • Aluminum Chloride (60 TPD) Chloro-Vinyl Businesses • PVC Resins (220 TPD) • Calcium carbide (112,000 TPA) • Agri- Businesses o Sugar (38,000 TCD) o Co-Gen (155 MW) Agri o Distillery (350 KLD) Businesses o Shriram Farm Solutions o Bioseeds o Fertilizers
Slide 16: Chloro Vinyl Business
Chloro Vinyl Business Revenues PBIT Cap. Employed Particulars (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q4 FY20 484.3 81.0 1,492.6 Q4 FY19 676.1 271.0 1,301.4 % Shift (28.4) (70.1) 14.7 FY20 2,278.2 652.0 1,492.6 FY19 2,502.7 993.5 1,301.4 % Shift (9.0) (34.4) 14.7 The Chloro-Vinyl business of the Company has h
Slide 17: Chemicals
Chemicals Operational Financial Caustic Sales ECU Realizations Revenues PBIT Particulars PBIT Margin % (MT) (Rs./MT) (Rs Cr.) (Rs. Cr.) Q4 FY20 119,337 23,781 354.0 58.9 16.6 Q4 FY19 123,673 36,498 524.0 244.3 46.6 % Shift (3.5) (34.8) (32.4) (75.9) (64.3) FY20 525,024 27,579 1,724.8 553.0 32.1 FY19
Slide 18: Chemicals
Chemicals The total imports of caustic in the country during Jan-Mar’20 have quadrupled to 0.98 lac MT vis a vis imports of only 0.19 lac MT in the same period last year. Total imports for FY’20 were 3.75 lac MT vs Industry 2.35 lac MT of FY'19, an increase of ~60%. Overview Exports were margina
Slide 19: Chemicals
Chemicals Net revenues for FY20 at Rs 1,725 crores down 10% YoY driven lower prices. ECU prices down 23% due to lower liquid caustic and softer chlorine prices. Flakes premium lower YoY. Volumes up 13% (332 TPD plant commissioned in April’19 at Bharuch). Performance PBIT for full year FY20 at Rs
Slide 20: Plastics
Plastics Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBIT Particulars Realizations Realizations PBIT Margin % (MT) (MT) (Rs Cr.) (Rs. Cr.) (Rs./MT) (Rs./MT) Q4 FY20 11,723 72,741 7,413 53,082 130.3 22.2 17.0 Q4 FY19 15,054 74,041 6,674 54,420 152.1 26.7 17.5 % Shift (2
Slide 21: Plastics
Plastics Import PVC and DCM PVC Prices 80,000 1,050 78,077 77,943 1,000 76,000 75,486 76,200 74,005 950 961 73,918 936 USD 72,000 INR 869 865 900 906 871 850 68,000 69,828 69,028 DCM Realizations PVC (Rs / MT) (LHS) PVC Import Prices - CFR SEA ($ / MT) (RHS) 64,000 750 Apr-18 Oct-18 Feb-19 Mar-19 Ap
Slide 22: Sugar
Sugar Revenues PBIT Cap. Employed Particulars PBIT Margin % (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Season Updates SY19 SY20 Q4 FY20 838.3 194.6 23.2 2,704.6 Crushing Days 182 183 Cane Crushed (Lac Q4 FY19 637.4 227.4 35.7 2,039.0 542 598 Qtls) % Shift 31.5 (14.5) (35.0) 32.6 Recoveries %* 12.09% 11.92% FY20
Slide 23: Sugar
Sugar Sugar Power Distillery Distillery Sugar Sugar Sales Distillery (Domestic) Power Sales Realizations Realizations - Realizations - Particulars Production (Domestic) Sales Realizations (Lac Units) (Rs/ unit) B Heavy C Heavy (Rs/ (Lac Qtls) (Lac Qtls) (Lac Ltrs) (Rs/Qtl) (Lac Units) (Rs/ Ltrs) Ltr
Slide 24: Sugar
Sugar Q4 FY20 Overall sugar revenues up 32% YoY at Rs 838 crores led by: a. Higher distillery revenues led by higher volumes 83% YoY consequent to commissioning of second distillery of 200 KLD. b. Higher domestic sugar volumes 38% YoY and higher sugar prices 4% YoY. c. Higher sugar exports revenue
Slide 25: Shriram Farm Solutions
Shriram Farm Solutions Revenues PBIT Cap. Employed Particulars PBIT Margin % (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q4 FY20 74.1 (8.2) (11.0) 121.2 Q4 FY19 72.5 (14.5) (20.0) 206.1 % Shift 2.2 - (41.2) (41.2) FY20 762.0 67.6 8.9 121.2 FY19 716.6 40.7 5.7 206.1 % Shift 6.3 66.2 (41.2) (41.2) The products incl
Slide 26: Bioseed
Bioseed Revenues (Rs. Cr.) PBIT Cap. Employed Particulars PBIT Margin % India International Total (Rs. Cr.) (Rs. Cr.) Q4 FY20 34.2 11.1 45.3 (15.5) (34.2) 425.4 Q4 FY19 31.9 12.4 44.4 (26.2) (59.0) 433.0 % Shift 7.1 (10.6) 2.1 - - (1.8) FY20 328.0 87.8 415.9 10.1 2.4 425.4 FY19 390.2 82.1 472.3 3.2
Slide 27: Fertilizers (Urea)
Fertilizers (Urea) Operational Financial Sales Realizations Revenues PBIT Cap. Employed Particulars PBIT Margin % (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q4 FY20 99,372 25,478 300.4 73.3 24.4 768.2 Q4 FY19 102,660 24,781 267.3 (32.5) (12.2) 605.8 % Shift (3.2) 2.8 12.4 - - 26.8 FY20 380,392 24,9
Slide 28: Other Businesses
Other Businesses The ‘Others’ Segment in the financial results, includes Cement, Fenesta Building Systems and Hariyali Kisaan Bazaar. Revenues under ‘Others’ stood at Rs 183 crores in Q4 FY20 from Rs. 200 crores in Q4 FY19. PBIT for the quarter stood . at –ve Rs. 7 crores vis-à-vis +ve Rs. 8 crores
Slide 29: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book (Rs Crores) Revenues Particulars PBIT PBIT Margin % Retail Projects Total Total Q4 FY20 70.7 60.3 131.0 84.6 3.6 4.3 Q4 FY19 98.3 35.7 134.0 101.9 12.3 12.1 % Shift (28.0) 68.7 (2.2) (17.0) (70.8) (64.8) FY20 315.4 147.1 462.6 418.9 53.2 12.7
Slide 30: Cement
Cement Operational Financial Sales Realizations Revenues PBIT PBIT Margin % Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) Q4 FY20 101,284 3,657 45.9 6.7 14.6 Q4 FY19 109,299 3,116 42.5 (1.6) (3.8) % Shift (7.3) 17.3 8.1 - - FY20 408,685 3,572 178.2 8.6 4.8 FY19 434,546 3,058 166.8 (7.5) (4.5) % Shif
Slide 31: About Us & Investor Contacts
About Us & Investor Contacts DCM Shriram Ltd. is an integrated business entity, with extensive and growing presence across the entire Agri value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Bioseed and Fenesta. Access to captive