IFGL Refractories Ltd. · NSE:IFGLEXPOR
IFGL Refractories — Investor Presentation (May 2019)
29 slides from IFGL Refractories's investor presentation, May 2019
Slide 1: IFGL Refractories Limited Investor Presentation May 2019
IFGL Refractories Limited (Formerly IFGL Exports Limited) Investor Presentation May 2019
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited, 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 basis or b
Slide 3: Industry Overview
Industry Overview
Slide 4: Global Steel Demand outlook
Global Steel Demand outlook In MT World World (Ex China) Developing economies (Ex China) 1,712 1,735 1,752 877 892 917 463 477 499 2018 2019F 2020F 2018 2019F 2020F 2018 2019F 2020F Source: World Steel Association Reasons contributing to growth ➢ Global outlook: ▪ Global steel demand is expected to
Slide 5: Forecasted Global Short Term Steel Demand
Forecasted Global Short Term Steel Demand In MT 2019F 2020F 1,751.6 1,735.0 1,194.6 1,199.6 170.2 172.2 144.5 145.6 48.9 49.5 57.0 57.9 44.9 48.3 36.9 39.3 38.1 39.2 NAFTA Central Europe Other Europe Africa Gulf CIS Asia & World & South Oceania America ➢ Steel demand in the emerging economies exclud
Slide 6: Top 5 Steel Consuming Countries
Top 5 Steel Consuming Countries -1% In MT 2019F 2020F 843.3 834.9 +7% 0% 102.8 110.2 101.4 101.7 -1% +1% 64.7 64.2 53.4 54.1 China India United States Japan South Korea Source: World Steel Association ➢ As is visible in the above chart, India is the only country among top 5 steel consuming countries
Slide 7: Global Steel production
Global Steel production In MT Jan-March 2018 Jan-March 2019 231.1 210.2 54.8 54.5 43.2 42.3 29.5 30.7 27.4 27.3 25.0 24.3 10.5 9.1 11.0 10.5 8.4 9.1 3.6 3.8 1.6 1.4 Europe Other CIS North South Africa Gulf China India Asia (Ex Oceania Europe America America India & China) 7 Source: World Steel Assoc
Slide 8: India's share in Global Steel production expected to rise
India’s share in Global Steel production expected to rise 50% 2016 2020 49% 13% 12% 7% 7% 7% 7% 7% 7% 6% 6% 6% 6% 6% 5% China India North CIS Europe Other Asia Japan Others America 8 Source: BofA MerrillLynch Report
Slide 9: Domestic Steel Industry on a strong footing
Domestic Steel Industry on a strong footing India is now the world's second largest steel producer, surpassing Japan 1 2 Target of 300 MT of production capacity by 2030 (National Steel Policy, 2017) Steel consumption has grown by 5.7% YoY and reached 92.1 MT in 2018 3 (as per World Steel Association
Slide 10: Strong Domestic consumption
Strong Domestic consumption In MT India’s Steel Consumption +7.08% +7.2% 102.8 110.2 96.0 2018 2019F 2020F Particulars (in MTPA) FY18 FY19F YoY% FY20F YoY% India 96.0 102.8 7.1% 110.2 7.2% China 835.0 843.3 1% 834.9 -1% USA 100.2 101.4 1.2% 101.7 0.3% Japan 65.4 64.7 -1.1% 64.2 -0.8% India is expect
Slide 11: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Anti-Dumping Duty policy promotes fair trade and reduces the ill effects of dumping, on the Domestic Industry Infrastructure Robust Export Growth. development and Steel exports increased demand from the by 17% y-o-y to 9.62 various sectors MMT in FY18 Active l
Slide 12: Global Refractories Market outlook (2018-2023)
Global Refractories Market outlook (2018-2023) Global Refractories Market (In USD Million) +5.2% 46,213 48,620 41,749 43,924 35,849 37,717 39,682 2017 2018F 2019F 2020F 2021F 2022F 2023F Reasons contributing to growth ➢ Global Refractories Market is estimated to grow at a CAGR of 5.2% and reach a si
Slide 13: Our Performance
Our Performance
Slide 14: Corporate Structure
Corporate Structure… IFGL Refractories Limited 3.604 Cr Equity Shares with a Face Value of Rs. 10 each Plants at Kalunga, Orissa, India + Plant at Kandla SEZ, Kandla, Gujarat, India 100% IFGL Worldwide Holdings Limited 100% 100% 100% Hofmann Monocon Group EI Ceramics Ceramic UK / USA / China Germany
Slide 15: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars [Rs. Crs.] Q4 FY19 Q4 FY18 Y-o-Y% Q3 FY19 Q-o-Q% FY19 FY18^ Y-o-Y% Total Income 251.2 230.1 9.2% 235.9 6.5% 946.1 839.7 12.7% Materials consumed 134.8 114.2 117.8 473.1 421.4 Employee Expenses 35.5 31.7 38.3 146.2 126.7 Other Expenses 53.7 50.3 55.6 212.3 181.3
Slide 16: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars in Rs. Crs. Mar-19 Mar-18 Particulars in Rs. Crs Mar-19 Mar-18 Assets Equity & Liabilities Non current Assets 486.1 493.0 Equity 794.6 752.0 Fixed Assets Property Plant & Equipment 143.8 122.0 Share Capital 36.0 36.0 Capital WIP 6.3 8.2 Other Equity 758.6 716.0
Slide 17: FY19 Consolidated Financial Highlights
FY19 Consolidated Financial Highlights Total Income [Rs. Crs] EBITDA [Rs. Crs] ^ Total Income is 946.1 Net of Excise 114.5 Duty 839.7 110.3 FY18^ FY19 FY18 FY19 EBITDA margin [%] PAT [Rs. Crs] 50.5 13.1% 12.1% 47.1 FY18 FY19 FY18 FY19 17
Slide 18: FY19 Standalone Financial Highlights
FY19 Standalone Financial Highlights Total Income [Rs. Crs] EBITDA [Rs. Crs] ^ Total Income is Net of Excise 482.9 75.5 Duty 75.5 445.2 FY18^ FY19 FY18 FY19 EBITDA margin [%] PAT [Rs. Crs] 26.0 17.0% 15.6% 22.6 FY18 FY19 FY18 FY19 18
Slide 19: Subsidiaries Performance
Subsidiaries Performance EI Ceramics [$ mn] Monocon Group [GBP mn] 19.8 28.8 16.8 25.8 2.5 2.9 2.2 2.2 2.0 2.2 1.4 1.5 Revenue EBITDA FY18 FY19 PAT FY18 FY19 Hofmann Ceramic [Euro mn] 10.0 10.5 0.2 -0.2 -0.1 -0.6 FY18 FY19 19
Slide 20: Ongoing Capex to boost performance
Ongoing Capex to boost performance IFGL Odisha ~Rs. 8 Cr : For Capacity expansions & debottlenecking Plant IFGL ➢ For new products expansion - Total Project Kandla cost estimated to be Rs. 29 Cr Plant ➢ Phase 1 ( involving cost of Rs. 15 Cr) likely to be completed by FY20 ➢ 10 acre Land acquired ➢ P
Slide 21: Consistently performing over the years
Consistently performing over the years… Particulars [Rs. Crs.] FY15^ FY16^ FY17^ FY18^ FY19 Total Income 793.5 722.1 769.5 839.7 946.1 Materials consumed 406.1 365.2 362.0 421.4 473.1 Employee Expenses 117.9 119.6 120.9 126.7 146.2 ^ Total Income is Other Expenses 170.6 156.1 183.5 181.3 212.3 Net o
Slide 22: …to create sustainable value for Shareholders…
…to create sustainable value for Shareholders… Net Debt (Rs. Crs.) Net Debt : Equity [x] Net Debt : EBITDA [x] 86.1 0.26 0.76 67.8 0.19 0.69 0.35 0.16 0.16 28.3 0.07 16.0 17.7 0.02 0.02 -44.8 -0.06 -0.39 FY14 FY15 FY16 FY17* FY18* FY19* FY14 FY15 FY16 FY17* FY18* FY19* FY14 FY15 FY16 FY17* FY18* FY1
Slide 23: …with consistent Payout
…with consistent Payout 25.0% 20.0% 20.0% 20.0% 20.0% 17.5% 15.0% FY13 FY14 FY15 FY16 FY17 FY18 FY19 Particulars (Rs.) FY13 FY14 FY15 FY16 FY17 FY18 FY19* Consolidated Book Value Per Share 70.9 95.1 99.6 111.7 189.9 208.7 220.5 Consolidated Earning Per Share 7.9 18.3 15.1 12.1 13.9 13.1 14.0 Dividen
Slide 24: About Us
About Us
Slide 25: A Global MNC…
A Global MNC… Monocon , UK Hofmann Ceramic, Mono Ceramics Inc Germany Michigan, US Tianjin Monocon Tianjin, China E I Ceramics, Cincinnati, US IFGL, Kandla SEZ 25
Slide 26: …with proven management…
…with proven management… • Promoter of S K Bajoria Group based at Kolkata engaged in diversified business activities Mr. S.K. Bajoria • Has been President of the Indian Chamber of Commerce, Director of Chairman West Bengal Industrial Development Corporation Ltd and Industrial Promotion & Investment
Slide 27: …serving the specialized refractory segment…
…serving the specialized refractory segment… Isostatic Refractories Slide Gate Refractories & Systems Tube Changer Refractories & System Purging System & Refractories Cast Products & Zirconia Nozzles Foundry Ceramics 27
Slide 28: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry 28
Slide 29: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mr. Rajesh Agrawal Mr. Shogun Jain / Mr. Pratik R. Shah rajesh.agarwal@ifgl.in shogun.jain@sgapl.net /pr