Dhampur Sugar Mills Limited · NSE:DHAMPURSUG

Dhampur Sugar Mills — Q2 FY23 Earnings Presentation

44 slides from Dhampur Sugar Mills's earnings presentation, Oct 21, 2022

  1. Slide 1: Cover letter to stock exchanges

    21.10.2022 To, The Manager - Listing The General Manager – DSC National Stock Exchange of India Ltd. BSE Limited Exchange Plaza,Bandra Kurla Complex Phiroze Jeejeebhoy Towers, Bandra (East) , Mumbai - 400 051 Dalal Street, Fort, Tel No. 022-2659 8237 /38 Mumbai: 400001 Symbol: DHAMPURSUG Tel No.022-

  2. Slide 2: Dhampur Sugar Mills Ltd Financial Results: Q2-FY23

    Dhampur Sugar Mills Ltd Financial Results: Q2-FY 23 1

  3. Slide 3: Safe Harbour Statement

    Safe Harbour Statement This presentation is strictly confidential and may not be copied, published, distributed or transmitted. The information in this presentation is being provided by Dhampur Sugar Mills Limited (also referred to as the ‘Company’). By attending the meeting where this presentation

  4. Slide 4: Content

    Content Slide No. Business Facilities 4 Key Milestones 5 Board of Directors 6 Shareholding Pattern 7 Overview-Market Outlook 8-12 Operating Performance 13-26 Financial Performance 27-40 Core Strengths 41 Way Forward 42 3

  5. Slide 5: Business Facilities

    Business Facilities Dhampur Rajpura Sugar- 15000 TCD Sugar-8500 TCD Co-Gen-73 MW Co-Gen- 48 MW Distillery- 250 KL* (C Heavy) Ethyl Acetate- 140 MT per day • Proposed 130 KL per day expansion (Including 100 KL per day grain based) on C heavy molasses. • Post expansion capacity : 380 KL per day on C -

  6. Slide 6: Key Milestones

    Key Milestones  Demerger  Expanded Rajpura sugar crushing  Installed multi-fuel high pressure boilers at Dhampur capacity to 8500 TCD  Greenfield sugar unit at Rajpura (7500TCD)  Installed CPU for Zero  Co-generation plant at Rajpura  Installed co-generation plants - Dhampur (65MW) Liquid Dis

  7. Slide 7: Board of Directors

    Board of Directors Mr. Ashok Kumar Goel, Chairman Mr. Gaurav Goel, Managing Director Mr. Mahesh Prasad Mehrotra Mr. Yashwardhan Poddar Mr. Anuj Khanna Mr. Satpal Kumar Arora Ms. Pallavi Khandelwal Mr. Anant Pande, CEO & Whole Time Director 6

  8. Slide 8: Shareholding Pattern as on 30th Sep 22

    Shareholding Pattern as on 30th Sep 22 7

  9. Slide 9: Industry Overview – Market Outlook

    Industry Overview –Market Outlook

  10. Slide 10: Industry Overview-Sugar

    Industry Overview-Sugar Million Ton Sugar Season 2019-20 2020-21 2021-22 2022-23 (P) Opening Balance (as on 1st Oct) 14.60 10.75 8.23 6.0 Sugar Production 27.40 31.20 36.00 35.5 Sugar Consumption 25.30 26.62 27.20 27.5 Sugar Exports 5.95 7.10 11.00 8.0 Closing Balance (as on 30th Sep) 10.75 8.23 6.0

  11. Slide 11: Industry Overview-Sugar

    Industry Overview-Sugar • Minimum Selling Price (MSP) - Rs 31/kg. • Fair and Remunerative Price (FRP) for sugar season 2021-22 : ₹290/Qtl. • State Advised Price (SAP) for sugarcane for sugar season 2021-22 : ₹350/Qtl in UP. • Domestic Sugar Prices hovering around ₹35/Kg. • ISMA requesting Government

  12. Slide 12: Industry Overview-Ethanol

    Industry Overview-Ethanol  Current Per Litre Price of Ethanol :-  Sugarcane juice, sugar / sugar syrup : Rs. 63.45  B heavy molasses : Rs. 59.08  C heavy molasses : Rs. 46.66  Damaged Food Grains/Maize : Rs. 52.92  Surplus Rice (FCI) : Rs. 56.87  Special incentive for Q3 & Q4 ESY 2021-22 : Rs

  13. Slide 13: Industry Overview-Ethanol

    Industry Overview-Ethanol  ISMA requested Government :  FFVs may be launched immediately.  Price of ethanol from sugarcane juice / sugar syrup should be increased.  Sugar mills may be allowed to sell ethanol in retail.  Vehicular emission norms may be placed at par with Brazil. Source ISMA 12

  14. Slide 14: Operating Performance Q2-FY23

    Operating Performance Q2-FY 23 13

  15. Slide 15: Sugar: Q2 FY23 Vs Q2 FY22

    Sugar : Q2 FY23 Vs Q2 FY22 Operating Performance Particulars UOM Q2 FY23 Q2 FY22 FY22 Sales- White Sugar Lakh tons 0.93 0.61 2.59 - Raw Sugar Lakh tons 0.04 - 0.62 Total Sales Lakh tons 0.97 0.61 3.21 Inventory- White Sugar Lakh tons 0.42 0.82 2.05 Realisation-White Sugar ₹/ton 35434 33867 34226 -Ra

  16. Slide 16: Ethanol: Q2 FY23 Vs Q2 FY22

    Ethanol : Q2 FY23 Vs Q2 FY22 Operating Performance Particulars UOM Q2 FY23 Q2 FY22 FY22 Production- B heavy Lakh BL 150.87 173.29 650.43 -Syrup Lakh BL - - 83.37 Total Production Lakh BL 150.87 173.29 733.80 Sales -B heavy Lakh BL 154.17 191.34 660.52 -Syrup Lakh BL 2.93 - 61.35 Total Sales Lakh BL

  17. Slide 17: Ethanol: Q2 FY23 Vs Q2 FY22

    Ethanol : Q2 FY23 Vs Q2 FY22 Operating Performance Particulars UOM Q2 FY23 Q2 FY22 FY22 Inventory- B heavy Lakh BL 5.31 0.05 13.42 -Syrup Lakh BL 0.35 - 22.01 Total Inventory Lakh BL 5.65 0.05 39.0 Realisation-B heavy Rs/BL 58.84 57.31 57.69 -Syrup Rs/BL 63.22 - 63.23 16

  18. Slide 18: Chemicals-Ethyl Acetate: Q2 FY23 Vs Q2 FY22

    Chemicals-Ethyl Acetate : Q2 FY23 Vs Q2 FY22 Operating Performance Particulars UOM Q2 FY23 Q2 FY22 FY22 Production Lakh Kg 62.92 61.94 272.74 Sales Lakh Kg 63.10 66.62 270.74 Inventory Lakh Kg 0.62 3.34 7.85 Realisation Rs/Kg 87.04 98.36 102.49 17

  19. Slide 19: Potable Spirits: Q2 FY23 Vs Q2 FY22

    Potable Spirits : Q2 FY23 Vs Q2 FY22 Operating Performance Particulars UOM Q2 FY23 Q2 FY22 FY22 No. of Production 466158 242824 1163418 Cases No. of Sales 465664 241197 1163015 Cases No. of Inventory 19397 18903 4293 Cases Realisation Rs/Case 262.83 262.68 259.51 18

  20. Slide 20: Sugar: H1 FY23 Vs H1 FY22

    Sugar : H1 FY23 Vs H1 FY22 Operating Performance Particulars UOM H1 FY23 H1 FY22 FY22 Total Cane Crushed Lakh tons 7.18 7.89 35.83 Cane diverted to Syrup Lakh tons 1.76 - 1.04 Gross Recovery % 12.65 12.90 12.16 Sugar Sacrifice- B heavy % 1.09 1.62 1.37 Sugar Sacrifice- Syrup % 3.63 - 0.42 Net Recove

  21. Slide 21: Sugar: H1 FY23 Vs H1 FY22

    Sugar : H1 FY23 Vs H1 FY22 Operating Performance Particulars UOM H1 FY23 H1 FY22 FY22 Production Lakh tons 0.57 0.88 3.71 Sales- White Sugar Lakh tons 1.84 1.09 2.59 - Raw Sugar Lakh tons 0.35 0.37 0.62 Total Sales Lakh tons 2.19 1.46 3.21 Inventory- White Sugar Lakh tons 0.42 0.82 2.05 20

  22. Slide 22: Sugar: H1 FY23 Vs H1 FY22

    Sugar : H1 FY23 Vs H1 FY22 Operating Performance Particulars UOM H1 FY23 H1 FY22 FY22 Realisation-White Sugar ₹/ton 35130 33253 34226 -Raw Sugar ₹/ton 33480 27586 30368 Valuation Rate ₹/ton 31547 28085 30840 21

  23. Slide 23: Power: H1 FY23 Vs H1 FY22

    Power : H1 FY23 VS H1 FY22 Operating Performance Particulars UOM H1 FY23 H1 FY22 FY22 Generation Cr. Units 9.39 10.36 40.01 Export Cr. Units 3.78 4.49 19.53 Realization ₹/unit 3.43 3.15 3.46 Power generated 1.11 cr. units in Q2 FY23 Vs 1.15 cr. in Q2 FY 22 for captive consumption. 22

  24. Slide 24: Ethanol: H1 FY23 Vs H1 FY22

    Ethanol : H1 FY23 Vs H1 FY22 Operating Performance Particulars UOM H1 FY23 H1 FY22 FY22 Production- B heavy Lakh BL 195.46 307.60 650.43 -Syrup Lakh BL 152.27 - 83.37 Total Production Lakh BL 347.72 307.60 733.80 Sales -B heavy Lakh BL 203.57 352.95 660.52 -Syrup Lakh BL 173.93 - 61.35 Total Sales L

  25. Slide 25: Ethanol: H1 FY23 Vs H1 FY22

    Ethanol : H1 FY23 Vs H1 FY22 Operating Performance Particulars UOM H1 FY23 H1 FY22 FY22 Inventory- B heavy Lakh BL 5.31 0.05 13.42 -Syrup Lakh BL 0.35 - 22.01 Total Inventory Lakh BL 5.65 0.05 35.4 Realisation-B heavy Rs/BL 58.84 57.35 57.69 -Syrup Rs/BL 63.22 - 63.23 24

  26. Slide 26: Chemicals-Ethyl Acetate: H1 FY23 Vs H1 FY22

    Chemicals-Ethyl Acetate : H1 FY23 Vs H1 FY22 Operating Performance Particulars UOM H1 FY23 H1 FY22 FY22 Production Lakh Kg 151.94 117.12 272.74 Sales Lakh Kg 159.17 120.01 270.74 Inventory Lakh Kg 0.62 3.34 7.85 Realisation Rs/Kg 91.89 105.76 102.49 25

  27. Slide 27: Potable Spirits: H1 FY23 Vs H1 FY22

    Potable Spirits : H1 FY23 Vs H1 FY22 Operating Performance Particulars UOM H1 FY23 H1 FY22 FY22 No. of Production 1057859 558560 1163418 Cases No. of Sales 1042755 543801 1163015 Cases No. of Inventory 19397 18650 4293 Cases Realisation Rs/Case 260.40 260.12 259.51 26

  28. Slide 28: Financial Performance Q2-FY23

    Financial Performance Q2-FY 23 27

  29. Slide 29: Standalone Financials Performance- Q2 FY23 Vs Q2 FY22

    Standalone Financials Performance- Q2 FY23 Vs Q2 FY22 Rs. Cr. Q2 Q2 % Particulars FY 23 FY 22 Change FY 22 Income from Operations 615.5 457.2 34.6 2208.7 EBITDA 36.7 55.4 -33.8 304.9 PBT 15.9 33.3 -52.3 204.5 PAT 10.7 25.0 -57.2 146.9 Cash Profit 23.3 38.5 -39.5 222.3 EPS (₹/Share) 1.61 3.77 -57.3 2

  30. Slide 30: Standalone Financials Performance-H1 FY23 Vs H1 FY22

    Standalone Financials Performance-H1 FY23 Vs H1 FY22 Rs. Cr. % H1 FY23 H1 FY22 Particulars Change FY 22 Income from Operations 1440.1 1002.3 43.7 2208.7 EBITDA 120.0 126.0 -4.8 304.9 PBT 69.7 75.6 -7.8 204.5 PAT 46.4 56.2 -17.4 146.9 Cash Profit 79.4 88.2 -10.0 222.3 EPS (₹/Share) 6.99 8.46 -17.4 22

  31. Slide 31: Standalone Segment Revenue – Q2 FY23 Vs Q2 FY22

    Standalone Segment Revenue – Q2 FY23 Vs Q2 FY22 Rs. Cr. % Q2 FY23 Q2 FY22 Particulars Change FY 22 Sugar 377.7 258.4 46.2 1451.8 Power 8.8 9.3 -5.4 213.0 Ethanol 100.9 114.2 -11.6 427.0 Chemicals 54.9 65.5 -16.2 277.7 Potable Spirits 115.1 61.7 86.5 290.7 Others 2.7 2.7 0.3 22.9 Total 660.0 511.9 28

  32. Slide 32: Standalone Segment Profit (PBIT): Q2 FY23 Vs Q2 FY22

    Standalone Segment Profit (PBIT) : Q2 FY23 Vs Q2 FY22 Rs. Cr. Particulars % Q2 FY23 Q2 FY22 FY22 Change Sugar 10.0 10.4 -3.8 57.4 Power -1.3 -0.7 -285.7 82.4 Ethanol 27.1 41.7 -35.0 131.9 Chemicals -1.2 4.7 -125.5 19.6 Potable 0.2 -0.9 122.2 -0.8 Spirits Others -0.3 -0.9 133.3 1.2 Total 34.6 54.3 -3

  33. Slide 33: Standalone Segment Revenue: H1 FY23 Vs H1 FY22

    Standalone Segment Revenue: H1 FY23 Vs H1 FY22 Rs. Cr. % H1 FY23 H1 FY22 Particulars Change FY 22 Sugar 925.9 604.9 53.1 1451.8 Power 52.5 55.1 -4.7 213.0 Ethanol 244.6 213.0 14.8 427.0 Chemicals 146.3 126.9 15.3 277.7 Potable Spirits 252.6 136.2 85.5 290.7 Others 9.6 7.9 21.5 22.9 Total 1631.6 1144

  34. Slide 34: Standalone Segment Profit (PBIT): H1 FY23 Vs H1 FY22

    Standalone Segment Profit (PBIT) : H1 FY23 Vs H1 FY22 Rs. Cr. Particulars % H1 FY23 H1 FY22 FY22 Change Sugar 35.5 16.4 116.5 57.4 Power 15.3 15.3 82.4 Ethanol 53.1 77.2 -31.2 131.9 Chemicals 9.4 15.5 -39.4 19.6 Potable 0.2 -1.7 111.8 -0.8 Spirits Others 0.3 -0.4 175.0 1.2 Total 113.8 122.3 -7.0 291

  35. Slide 35: Segment Performance: Q2 FY23 Vs Q2 FY22

    Segment Performance : Q2 FY23 Vs Q2 FY22 Q2 FY 23 Q2 FY 22 Segment Revenue Segment PBIT 34

  36. Slide 36: Segment Performance: H1 FY23 Vs H1 FY22

    Segment Performance : H1 FY23 Vs H1 FY22 H1 FY23 Segment Revenue H1 FY22 Segment PBIT 35

  37. Slide 37: Balance Sheet

    Balance Sheet 36

  38. Slide 38: Balance Sheet As on 30th Sep 22

    Balance Sheet Rs. Cr. Particulars As on As on 30th Sep 22 31st March 22 Non Current Assets 1158.7 1051.6 Net Current Assets 99.7 121.2 Total Assets 1258.4 1172.8 Equity 934.1 888.5 Long Term Borrowings 250.8 233.5 Other Non Current Liabilities 32.4 20.7 Deferred Tax Liabilities 41.1 30.1 Total Equit

  39. Slide 39: Key Ratios

    Key Ratios Particulars As on As on 30th Sep 22* 31st March 22 Current Ratio 1.35 1.12 Net Debt to EBITDA 3.06 2.75 Long Term Debt to Equity 0.32 0.35 *Profitability considered only for six months period & not annualized. 38

  40. Slide 40: Consolidated Financial Performance- Q2 FY23 Vs Q2 FY22

    Consolidated Financial Performance- Q2 FY23 Vs Q2 FY22 Rs. Cr. Q2 Q2 % Particulars FY 23 FY 22 Change FY 22 Income from Operations 650.8 457.2 42.3 2173.6 EBITDA 37.5 55.4 -32.3 302.0 PBT 16.7 33.3 -49.8 201.6 PAT 11.5 25.0 -54.0 144.0 Cash Profit 24.1 38.5 -37.4 219.4 EPS (₹/Share) 1.74 3.76 -53.7

  41. Slide 41: Consolidated Financial Performance- H1 FY23 Vs H1 FY22

    Consolidated Financial Performance- H1 FY23 Vs H1 FY22 Rs. Cr. % H1 FY23 H1 FY22 Particulars Change FY 22 Income from Operations 1484.7 1002.3 48.1 2173.6 EBITDA 124.4 125.9 -1.2 302.0 PBT 74.1 75.6 -2.0 201.6 PAT 50.8 56.1 -9.4 144.0 Cash Profit 83.8 88.2 -5.0 219.4 EPS (₹/Share) 7.66 8.45 -9.3 21.

  42. Slide 42: Core Strengths

    Core Strengths • Visionary promoters • Experienced management team • Integrated business processes • Strong relationship with 1.50 lakh farmers approx. • Growth Focus- Ethanol/Chemicals • Prudent financial management • Improving operational efficiencies • Future ready organization 41

  43. Slide 43: Way forward

    Wayforward Way forward • Start crushing season 2022-23 by end October 22 • Commissioning of proposed distillery expansion • Reduction in manufacturing cost • Optimization of financing cost • Skill building and empowerment • Engagement with community 42

  44. Slide 44: Thank You

    Thank You For further information, please contact : Dhampur Sugar Mills Ltd. 6th Floor, Max House, Okhla Industrial Estate, Phase III New Delhi – 110020, Telephone : +91-11-41259400 Email: investordesk@dhampursugar.com, Website: www.dhampursugar.com 43

Dhampur Sugar Mills — Q2 FY23 Earnings Presentation on 6ix