Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q4 FY2024 Earnings Presentation
45 slides from Ifgl Refractories's earnings presentation, May 20, 2024
Slide 1: Regulation 30 disclosure letter to exchanges
20th May, 2024 National Stock Exchange of India Ltd BSE Limited ‘Exchange Plaza’, C-1, Block – G Phiroze Jeejeebhoy Towers Bandra – Kurla Complex Dalal Street Bandra (E), Mumbai 400 051 Mumbai 400 001 Code : IFGLEXPOR Code: 540774 Dear Sirs, Re: Disclosure under Regulation 30 of SEBI (Listing Obliga
Slide 2: IFGL Refractories Limited Investor Presentation Q4FY24
IFGL Refractories Limited Investor Presentation Q4FY24 - May 2024
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), prepared by IFGL Refractories Limited (the “Company”), are solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the
Slide 4: Agenda
Table of Contents 01 Q4 & FY24 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 5: Standalone Performance Highlights
Standalone Performance Highlights Total Revenue (Rs. Crs) EBITDA (Rs. Crs) EBITDA Margin (%) ✓ Total Revenue for Q4FY24 stood at Rs. 216 crs and for FY24 it stood at Rs. 910 crs -1% representing a growth of 8% on a Y-o-Y -18% -370 bps 217.6 215.9 46.2 21.2% basis. 37.8 17.5% Quarterly ✓ EBITDA for Q
Slide 6: Consolidated Performance Highlights
Consolidated Performance Highlights Total Revenue (Rs. Crs) EBITDA (Rs. Crs) EBITDA Margin (%) ✓ Revenue for Q4FY24 grew by 7% Y-o-Y and stood at Rs. 401.2 crs. Revenue for FY24 +7% -25% -440 bps stood at Rs. 1,658.3 crs representing a 401.2 56.1 14.9% growth of 18% on a Y-o-Y basis. 375.9 Quarterly
Slide 7: Management Commentary
Management Commentary Commenting on the Q4 & FY24 performance of the company Mr. James McIntosh, Managing Director for IFGL Refractories Limited Said, “In FY24, we faced a challenging year with headwinds in many of our overseas markets resulting in lower than expected results. That being said we wer
Slide 8: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Profit & Loss [Rs. Crs.] Q4FY24 Q4FY23 Y-o-Y% FY24 FY23 Y-o-Y% Total Income 215.9 217.6 -1% 909.6 845.6 8% Raw Material 110.0 112.6 461.1 459.7 Gross Profit 105.9 105.0 1% 448.5 385.8 16% Gross Profit Margins (%) 49.1% 48.3% 49.3% 45.6% Employee Expenses 19.9 14.8
Slide 9: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit & Loss [Rs. Crs.] Q4FY24 Q4FY23 Y-o-Y% FY24 FY23 Y-o-Y% Total Income 401.2 375.9 7% 1,658.3 1,399.7 18% Raw Material 204.0 188.2 831.5 722.8 Gross Profit 197.2 187.7 5% 826.8 676.9 22% Gross Profit Margins (%) 49.2% 49.9% 49.9% 48.4% Employee Expenses 64.5
Slide 10: Standalone Balance Sheet Statement
Standalone Balance Sheet Statement Assets (in Rs. Crs.) Mar-24 Mar-23 Equity & Liabilities (in Rs. Crs.) Mar-24 Mar-23 Non Current Assets 418.5 377.0 Equity 662.0 622.3 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 183.0 149.2 Other Equity 625.9 586.3 Right to Use Asset 18.6 19.4 C
Slide 11: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Assets (in Rs. Crs.) Mar-24 Mar-23 Equity & Liabilities (in Rs. Crs.) Mar-24 Mar-23 Non Current Assets 652.2 589.8 Equity 1,072.1 1,005.0 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 304.1 258.9 Other Equity 1,036.0 969.0 Right to Use Asset 21.
Slide 12: Agenda
Table of Content 01 Q4 & FY24 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 13: IFGL Refractories at a Glance (1/2)
IFGL Refractories at a Glance (1/2) ❖ IFGL is one of the fastest growing brands in the global refractory industry. We offer a wide range of specialised refractory products and operating systems for our products to our customers worldwide. About ❖ With 10 strategically located manufacturing units acr
Slide 14: IFGL Refractories at a Glance (2/2)
IFGL Refractories at a Glance (2/2) ❖ We have a diverse technical workforce, a large pool of trained engineers and application specialists who understand the importance of their roles in ensuring that About our company delivers success to customers through state-of-the-art technology. IFGL Refractor
Slide 15: Our Core Values
Our Core Values Integrity Agility & Customer Focus We will do the right thing even when no one is Our customers are the ultimate judge of our watching. We will be intellectually honest, performance and the quality of our products and ethical and uphold the highest standards of services. All our long
Slide 16: Our Ethos
Our Ethos By adhering to the core values of our company, we will be the supplier of choice for our customers. Corporate Image Respectability Sustainability Profitability Growth Agility and Sustainable Innovation Integrity People-First Customer Focus Growth 15
Slide 17: About Group Companies
About Group Companies Our group companies comprise IFGL Refractories and its 4 subsidiaries, all operating in specialised refractories and operating-systems segment. With manufacturing capability across 10 locations across Asia, Europe and North America, we enjoy strategic supply edge to cater to cu
Slide 18: About Group Companies
About Group Companies hofmann CERAMiC GmbH was founded in 1937. For over 9 decades, the company has been laying down the benchmark in high-quality ceramic manufacturing. Skilled workforce, latest technologies, and quality adherence to design, manufacturing & installation of products, as per the exac
Slide 19: Global Presence
Global Presence From state-of-the-art Manufacturing Facilities at 10 global locations to Sales & Marketing network across 50+ countries, IFGL enjoys global recognition as a provider of quality refractory solutions to our customers. Our strategic presence across the world creates a valuable competiti
Slide 20: Board of Directors
Board of Directors Shishir Kumar Bajoria Chairman Shishir Kumar Bajoria, son of Late B P Bajoria, fondly known as SKB, is a well-known Indian industrialist. He is the Promoter of S K Bajoria Group and is engaged in diversified business activities like manufacturing of Specialised Refractories for th
Slide 21: Board of Directors
Board of Directors James McIntosh Arasu Shanmugam Managing Director Director & CEO India Arasu comes with 30+ years of experience in the refractories James McIntosh, holder of a Master’s Degree in Technological industry. A Post-Graduate (M.Tech.) in Ceramic Technology Marketing, has experience of mo
Slide 22: Board of Directors
Board of Directors Sudhamoy Khasnobis D G Rajan Board Member Board Member Sudhamoy Khasnobis, an Engineering Graduate, is a career D.G. Rajan is a Fellow of the Institute of Chartered banker with broad and diversified experience in development Accountants in England & Wales and of India. He was a ba
Slide 23: Embarking on Capex Journey..
Embarking on Capex Journey..
Slide 24: Capacity expansion & other improvements
Capacity expansion & other improvements Plant wise Capex amount distribution in FY23 & FY24 (Rs.in Crs) 58.5 Odisha 50.0 Research & Technology Centre at Kalunga, Odisha was Inaugurated in the Q3 FY24. Kandla The total expected capex cost was Rs 177.5 crores. In Odisha, around 90% of the capex has be
Slide 25: A Global Player in Refractories..
A Global Player in Refractories..
Slide 26: Key Product Portfolio
Key Product Portfolio Tap Hole Sleeve & Block Tap Hole Mass Hot Patching Mass Pre Tap Plugs Precast Roof Slag Dart Machines EBT Tap Hole Sleeve & Block Slag Dart Refractories Tap hole ramming mass Delta Castable & Dart Machine Accessories Tundish Lining Tundish Tundish Flow Modifiers Slide Gate Refr
Slide 27: Key Product Portfolio
Key Product Portfolio Coil Coating Mass Neutral Ramming Mass Purging Refractories Sub Entry Nozzle / Shroud Tundish Covering Compound Burner Blocks Casting Flux Precast Hearth and Skid Blocks Tundish Metering Nozzle Ladle Well Filler EBT Filling Mass Precast Skid Pipe Cladding 26
Slide 28: Solutions Offerings - Foundry
Solutions Offerings - Foundry Foundry With more than seventy years of experience our group company Hofmann Ceramic GmbH provides innovative solutions and technical ceramics products related to the foundry industry, and is the specialist in the field of mold filling and solidification. We support cus
Slide 29: Some Key Achievements and Highlights
Some Key Achievements and Highlights Successful Performance of RHD Snorkel at JSPL Raigarh Our Visakhapatnam unit marked an important milestone by dispatching our first Snorkel sets to JSPL Limited Raigarh. The snorkels delivered the highest service life in recent history, completing 61 heats. Top E
Slide 30: A Responsible Corporate..
A Responsible Corporate..
Slide 31: Sustainability
Sustainability As a responsible corporate entity, IFGL constantly strives to drive sustainability through a holistic approach. From understanding the true essence of sustainable actions, to establishing the tiers of responsibility and integrating justifiable elements at every stage, sustainability i
Slide 32: Sustainability
Sustainability Ensuring The Welfare Of All Stakeholders Through the implementation of the latest safety protocols, production parameters and efficient processes, IFGL ensures that the health & well-being of our employees or our esteemed customers are never put at any risk. The robust safety culture,
Slide 33: Social Responsibility
Social Responsibility Maintaining a seamless balance between business, sustainability, and growth has always been a priority at IFGL. Through nurturing the latent potential of our people, and ensuring smooth integration with Mother Nature, we have established mutual exclusivity of the two. As a resp
Slide 34: Agenda
Table of Content 01 Q4 & FY24 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 35: Consolidated Historical Financial Highlights
Consolidated Historical Financial Highlights Total Income (Rs. Crs) EBITDA (Rs. Crs) Profit After Tax (Rs. Crs) +8% CAGR Growth +17% 1,658.3 +7% 212.8 81.7 CAGR Growth CAGR growth 77.5 79.2 1,399.7 175.9 166.1 65.6 1,275.4 158.5 1,042.5 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24# FY21 FY22 FY23 FY24 #B
Slide 36: Consolidated Historical Profit & Loss Statement
Consolidated Historical Profit & Loss Statement Particulars [Rs. Crs.] FY24 FY23 FY22 FY21 Total Income 1,658.3 1,399.7 1,275.4 1,042.5 Materials consumed 831.5 722.8 614.6 474.0 Employee Expenses 250.3 194.8 173.9 151.8 Other Expenses 363.7 316.0 328.4 240.8 EBITDA before Exceptional Item 212.8 166
Slide 37: Consolidated Historical Balance Sheet Statement
Consolidated Historical Balance Sheet Statement Assets (in Rs. Crs.) Mar-24 Mar-23 Mar-22 Mar-21 Equity & Liabilities (in Rs. Crs.) Mar-24 Mar-23 Mar-22 Mar-21 Non-Current Assets 652.2 589.8 480.9 456.4 Equity 1,072.1 1005.0 934.0 890.5 Fixed Assets Share Capital 36.0 36.0 36.0 36.0 Property Plant &
Slide 38: Creating sustainable value for Shareholders
Creating sustainable value for Shareholders Total Debt (Rs. Crs) Cash & Equivalents (Rs. Crs) Net Debt (Rs. Crs) 163.0 321.9 FY21 FY22 FY23 FY24 148.5 262.7 -45.9 -39.1 194.3 202.1 87.1 51.6 -175.6 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 -270.3 Net Debt : Equity (x) Net Debt : EBIDTA (x) FY21 FY22 F
Slide 39: Key Consolidated Historical Ratios
Key Consolidated Historical Ratios Working Capital (Rs. Crs) Inventories (Rs. Crs) Receivables (Rs. Crs) 465.7 446.5 302.0 300.7 349.8 325.0 259.4 344.2 272.0 228.2 210.5 241.0 167.8 228.1 141.8 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Return on Equity (%) Return on
Slide 40: Consistent Dividend Payout
Consistent Dividend Payout 100.0% 70.0% 70.0% 70.0% 25.0% 25.0% FY19 FY20 FY21 FY22 FY23 FY24 Particulars (Rs.) FY19 FY20 FY21 # FY22 FY23 FY24 Consolidated Book Value Per Share 220.5 224.5 247.1 259.2 278.9 297.5 Consolidated Earning Per Share 14.0 11.1* 23.8* 21.5 21.9 22.66 Dividend Per Share 2.5
Slide 41: Agenda
Table of Content 01 Q4 & FY24 Performance Highlights 02 IFGL Refractories at a Glance 03 Historical Performance Highlights Agenda 04 Annexure
Slide 42: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Infrastructure development and demand from the various sectors Huge export opportunity for India due to its low cost advantage & Centre aims at covering refractories in PLI 2.0 to support steel industry Growth Drivers will boost usage of In Union Budget it is
Slide 43: Global Steel Demand Outlook
Global Steel Demand Outlook In MT Emerging Markets & Developing World India World (Ex China) economies (Ex- China) +1.5% +8.1% +3.5% +4.5% 1,763 1,793 1,815 144 156 867 897 928 508 533 554 133 2023 2024F 2025F 2023 2024F 2025F 2023 2024F 2025F 2023 2024F 2025F ➢ Global outlook: ▪ As per WSA, forecas
Slide 44: Top Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2023 2024F 2025F -0.5% 895.7 895.7 886.7 +8.1% 156.0 144.3 133.4 +1.9% 90.5 92.2 94.0 -0.3% +0.6% 54.7 54.3 54.4 53.3 53.3 53.9 China India United States South Korea Japan India’s steel demand will show healthy growth on the back of strong urban consumption and
Slide 45: Thank You
Thank Yo u Company: Investor Relations Advisor: IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mrs. Mansi Damani Mr. Sagar Shroff / Mr. Vatsal Shah mansi.damani@ifgl.in sagar.shroff@sgapl.net / vatsal.shah@sgapl.net +91 98205 19303