Gfl Ltd · NSE:GFLLIMITED
Gfl — Gujarat Fluorochemicals — H1 FY19 Earnings Presentation
25 slides from Gfl's earnings presentation, November 2018
Slide 1: Quarterly Investor Update Q2 & H1 FY19
GUJARAT FLUOROCHEMICALS LIMITED QUARTERLY INVESTOR UPDATE Q2 & H1 FY19 1
Slide 2: Disclaimer
DISCLAIMER This presentation and the following discussion may contain “forward looking statements” by Gujarat Fluorochemicals Limited (“GFL” or “the Company”) that are not historical in nature. These forward looking statements, which may include statements relating to future state of affairs, result
Slide 3: Discussion Summary
DISCUSSION SUMMARY KEY HIGHLIGHTS Q2 & H1 FY19 RESULTS HIGHLIGHTS CONSOLIDATED RESULTS CHEMICALS BUSINESS WIND TURBINE MANUFACTURING BUSINESS WIND FARMING BUSINESS FILM EXHIBITION BUSINESS BALANCE SHEET UPDATE SHAREHOLDING STRUCTURE ANNEXURE 3
Slide 4: Key Highlights
KEY HIGHLIGHTS Continued momentum in chemicals business led by higher sales and price improvements CHEMICALS BUSINESS Revenues up 48%, EBITDA up 28%, PAT (excluding Income Tax Refund) up 26% in Q2 FY19 vs. Q2 FY18 (YoY) Business turning around after 1 ½ year of transition pain, with execution
Slide 5: Q2 & H1 FY19 Results
- i Q2 & H1 FY19 RESULTS
Slide 6: Consolidated Results
Q2 & H1 FY19 – RESULTS HIGHLIGHTS CONSOLIDATED RESULTS Q2 FY19 YoY ANALYSIS REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN *** PAT & PAT MARGIN 31.7% 6.8% 8.0% 22.6% 20.1% 6.8% 1,479.5 468.3 118.9 875.4 296.9 197.5 59.8 69 % 349.4 50 % 684 % 99 % 59.8 59.8 118.9 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19
Slide 7: Consolidated Revenues Breakup
Q2 & H1 FY19 – RESULTS HIGHLIGHTS CONSOLIDATED REVENUES BREAKUP In Rs. Cr CONSOLIDATED REVENUES – BUSINESS WISE BREAKUP 1479.5 2839.2 365.3 780.3 12 % 17 % 12.5 1960.6 18.3 875.4 436.7 87 % 867.1 81 % 698.7 311.3 65.5 142.1 367 % 79.5 449 % 185.5 680.2 1375.0 458.6 961.0 43 % 48 % -15.2 -26.6 -201.4
Slide 8: Consolidated EBITDA Breakup
Q2 & H1 FY19 – RESULTS HIGHLIGHTS CONSOLIDATED EBITDA BREAKUP In Rs. Cr CONSOLIDATED EBITDA – BUSINESS WISE BREAKUP 653.7 7% 129.1 2% 296.9 11.3 45.2 402.5 197.5 8.1 80 % 123.4 64 % 53.0 44.4 120.3 22.7 57.2 474 % 370 % 197.7 410.2 154.3 258.9 58 % 28 % -7.0 -19.6 -33.0 -4.3 -0.9 -20.4 Q2 FY18 Q2 FY
Slide 9: Consolidated PAT Breakup
Q2 & H1 FY19 – RESULTS HIGHLIGHTS CONSOLIDATED PAT BREAKUP In Rs. Cr CONSOLIDATED PAT – BUSINESS WISE BREAKUP 468.3 615.5 12.0 1.5 49.0 11.9 2% 12 % 102 % 136 % 460.8 118.4 576.1 59.8 114 % 103 % 43.8 9.7 11.1 11.7 88.7 419 % 152.0 279 % -0.2 -5.8 -18.0 -3.5 -46.8 -4.9 -85.8 -1.2 Q2 FY18 Q2 FY19 H1
Slide 10: Standalone Results
Q2 & H1 FY19 – RESULTS HIGHLIGHTS STANDALONE RESULTS Q2 FY19 YoY ANALYSIS REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN *** PAT & PAT MARGIN 67.7% 19.3% 16.4% 680.2 33.6% 29.1% 19.3% 458.6 460.8 111.4 197.7 88.7 154.3 48 % 349.4 28 % 88.7 419 % 26 % 88.7 111.4 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19
Slide 11: Chemicals Business - Standalone Results: Revenue Breakup
Q2 & H1 FY19 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS In Rs. Cr Q2 & H1 FY19 YoY ANALYSIS - REVENUES BREAKUP 1,375.0 680.2 0.0 35.2 15.6 100 % 85.6 186.9 25 % 5% 961.0 458.6 37.3 28.7 20.8 121 % 120 % 573.5 38.8 293.9 85.1 76 % 65 % 167.2 348.3 32 % 78.5 27 % 189.6 59.6 149.4 91.
Slide 12: Chemicals Business - Q2 Sales Volume and Price Trend
Q2 & H1 FY19 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS Q2 FY19 YoY ANALYSIS - SALES VOLUME BREAKUP (MT) Q2 FY19 YoY ANALYSIS - PRICE TREND (RS PER MT) 52,632 17,409 33,625 35,062 40,069 32,649 32,820 15,571 1% 12 % 4% 31 % Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 Q2 FY18 Q2
Slide 13: Chemicals Business - H1 Sales Volume and Price Trend
Q2 & H1 FY19 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS H1 FY19 YoY ANALYSIS - SALES VOLUME BREAKUP (MT) H1 FY19 YoY ANALYSIS - PRICE TREND (RS PER MT) 63,102 33,428 48,220 60,063 31,016 36,224 33,121 36,542 5% 8% 9% 32 % H1 FY18 H1 FY19 H1 FY18 H1 FY19 H1 FY18 H1 FY19 H1 FY18 H1 F
Slide 14: Chemicals Business - VAP Sales and Other Revenue
Q2 & H1 FY19 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS In Rs. Cr VAP Sales 85.6 186.9 12.8 25.5 33 % 9.2 34 % 17.9 Products 16.7 R-410 32.8 23 % 25 % 38.8 FKM 85.1 33.7 Fluoropolymers 596 % 19.3 556 % 9.6 AHCL 19.0 7.5 Others 14.3 5.0 2.4 221 % 5.1 278 % 10.5 77.0 27.6 14.2 36.3 1
Slide 15: Wind Turbine Manufacturing Business (Inox Wind Limited)
Q2 & H1 FY19 – RESULTS HIGHLIGHTS WIND TURBINE MANUFACTURING BUSINESS (INOX WIND LIMITED) Q2 FY19 YoY ANALYSIS REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN 0.3% 12.1% -58.9% 436.7 -24.7% 53.0 103 % 1.5 449 % 370 % 79.5 -19.6 -46.8 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 EBIDTA EBIDTA
Slide 16: Wind Farming Business (Inox Renewables Limited)
Q2 & H1 FY19 – RESULTS HIGHLIGHTS WIND FARMING BUSINESS (INOX RENEWABLES LIMITED) Q2 FY19 YoY ANALYSIS In Rs. Cr REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN 16.9% -1.4% 34.7% 64.8% 65.5 11.1 22.7 102 % 81 % 64 % 8.1 12.5 -0.2 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 EBIDTA EBIDTA % P
Slide 17: Film Exhibition Business (Inox Leisure Limited)
Q2 & H1 FY1 – RESULTS HIGHLIGHTS FILM EXHIBITION BUSINESS (INOX LEISURE LIMITED) Q2 FY19 YoY ANALYSIS In Rs. Cr REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN 3.8% 3.3% 14.3% 12.4% 365.3 311.3 44.4 45.2 11.7 12.0 17 % 2% 2% Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 Q2 FY18 Q2 FY19 EBIDTA EBIDTA % PAT PA
Slide 18: Shareholding Structure
SHAREHOLDING STRUCTURE Market Data As on 12.11.2018 (BSE) Share Price Performance 950.00 Market capitalization (Rs Cr) 10064.46 900.00 Price (Rs.) 916.20 850.00 No. of shares outstanding (Cr) 10.99 800.00 Face Value (Rs.) 1.0 750.00 700.00 52 week High-Low (Rs.) 934.00 – 722.40 Jun-18 Jul-18 Aug-18
Slide 19: Annexures
t—“(C;ssCtésCSE ANNEXURES
Slide 20: Detailed Financials: Standalone P&L Statement
DETAILED FINANCIALS STANDALONE P&L STATEMENT Particulars (In Rs Cr) Q2 FY19 Q2 FY18 YoY % Q1 FY19 QoQ % H1 FY19 H1 FY18 YoY % Revenue from Operations 680.2 458.6 48.3% 694.8 -2.1% 1,375.0 961.0 43.1% Other Income 42.9 21.6 98.1% 13.6 215.2% 56.5 47.0 20.1% Total Income 723.1 480.3 50.6% 708.4 2.1% 1
Slide 21: Detailed Financials: Standalone Balance Sheet
DETAILED FINANCIALS STANDALONE BALANCE SHEET Particulars (Rs Cr) Sep-18 Particulars (Rs Cr) Sep-18 Non-current Assets: Share Holders’ Funds: Property, Pl a nt & Equi pment 1,928.1 Equi ty Share Capi tal 11.0 Ca pi ta l Work-i n-progres s 352.9 Other Equi ty 3,998.0 Inves tment Property 10.4 Total of
Slide 22: Detailed Financials: Consolidated P&L Statement
DETAILED FINANCIALS CONSOLIDATED P&L STATEMENT Particulars (In Rs Cr) Q2 FY19 Q2 FY18 YoY % Q1 FY19 QoQ % H1 FY19 H1 FY18 YoY % Revenue from Operations 1,479.5 875.4 69.0% 1,359.8 8.8% 2,839.2 1,960.6 44.8% Other Income 39.2 33.1 18.5% 8.5 360.3% 47.7 69.8 -31.7% Revenue from Operations 1,518.6 908.
Slide 23: Detailed Financials: Consolidated Balance Sheet
DETAILED FINANCIALS CONSOLIDATED BALANCE SHEET Particulars (Rs Cr) Sep-18 Particulars (Rs Cr) Sep-18 Share Holders’ Funds: Non-current Assets: Property, Pl a nt & Equi pment 3,779.8 Equi ty Share Capi tal 11.0 Ca pi ta l Work-i n-progres s 961.1 Other Equi ty 5,306.0 Inves tment Property 9.8 Non-con
Slide 24: Group Overview: Strong Pedigree
GROUP OVERVIEW STRONG PEDIGREE USD $3 Billion Inox Group 90 Year track record of 10,000+ employees at 150+ Distribution network spread diversified across 6 different consistent business growth business units across India over 50+ countries businesses Listed Companies Other Key Companies Gujarat Fluo
Slide 25: For Further Queries
FOR FURTHER QUERIES: Deepak Asher Director and Group Head (Corporate Finance) Email : deepakasher@gfl.co.in Bhavin Desai Company Secretary Email : bvdesai@gfl.co.in 25
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