Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q4 FY22 Earnings Presentation
34 slides from Ifgl Refractories's earnings presentation, May 31, 2022
Slide 1: Regulation 30 disclosure cover letter
[(J � REFRACTORIES LIMITED Head & Corporate Office 3 , Netaji Subhas Road, Kolkata - 700 001, India Phone: +91334 0106100, Fax: +91332243 0886 E-mail : ifgl.ho@ifgl.in, Websites : www.ifglref.com 31st May, 2022 National Stock Exchange of India Ltd BSE Limited 'Exchange Plaza', C-1, Block-G Phiroze J
Slide 2: Investor Presentation – Q4FY22
COMMITTED TO CLEAN METAL IFGL Refractories Limited Investor Presentation – Q4FY22 May 2022
Slide 3: 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 4: Our Performance
Our Performance
Slide 5: Q4FY22 Performance Snapshot
Q4FY22 Performance Snapshot Standalone & Consolidated Performance Standalone Consolidated Rs. 240.1 Crores Rs. 366.6 Crores Total Income Total Income Standalone Consolidated Rs. 34.2 Crores Rs. 42.7 Crores EBITDA EBITDA Standalone Consolidated Rs. 15.7 Crores Rs. 20.7 Crores PAT PAT 4
Slide 6: FY22 Performance Snapshot
FY22 Performance Snapshot Standalone & Consolidated Performance Standalone Consolidated Rs. 801.4 Crores Rs. 1,275.4 Crores Total Income Total Income Standalone Consolidated Rs. 131.3 Crores Rs. 158.5 Crores EBITDA EBITDA Standalone Consolidated Rs. 63.2 Crores Rs. 77.5 Crores PAT PAT 5
Slide 7: Q4FY22 Standalone Financial Highlights
Q4FY22 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +36% -8% 240.1 37.1 21.0% 34.2 176.8 14.2% Q4FY21 Q4FY22 Q4FY21 Q4FY22 Q4FY21 Q4FY22 Profit After Tax [Rs. Crs.] PAT margin [%] +46% 6.1% 6.5% 15.7 10.7 Q4FY21* Q4FY22 Q4FY21* Q4FY22 *Q4FY21 PAT is aft
Slide 8: FY22 Standalone Financial Highlights
FY22 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +22% -8% 801.4 143.0 21.8% 131.3 655.8 16.4% FY21 FY22 FY21 FY22 FY21 FY22 Profit After Tax [Rs. Crs.] PAT margin [%] -3% 9.9% 65.0 63.2 7.9% FY21* FY22 FY21* FY22 *FY21 PAT is after adding back one-time
Slide 9: Q4 & FY22 Standalone Profit & Loss
Q4 & FY22 Standalone Profit & Loss Profit & Loss [Rs. Crs.] Q4FY22 Q4FY21 Y-o-Y% Q3FY22 Q-o-Q% FY22 FY21 Y-o-Y% Total Income 240.1 176.8 36% 196.5 22% 801.4 655.8 22% Raw Material# 124.8 83.7 93.8 395.5 304.0 Employee Expenses 13.0 12.4 13.8 56.1 51.8 Other Expenses# 68.2 43.6 53.8 218.4 157.2 EBITD
Slide 10: Standalone Balance Sheet
Standalone Balance Sheet Assets (in Rs. Crs.) Mar-22 Mar-21 Equity & Liabilities (in Rs. Crs ) Mar-22 Mar-21 Non current Assets 337.5 318.7 Equity 586.3 559.1 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 107.9 77.6 Other Equity 550.3 523.1 Right to Use Asset 18.5 15.6 Capital WIP
Slide 11: Q4FY22 Consolidated Financial Highlights
Q4FY22 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +27% -12% 366.6 48.5 16.8% 42.7 287.9 11.6% Q4FY21 Q4FY22 Q4FY21 Q4FY22 Q4FY21 Q4FY22 Profit After Tax [Rs. Crs.] PAT margin [%] +8% 6.6% 19.1 20.7 5.6% Q4FY21* Q4FY22 Q4FY21* Q4FY22 *Q4FY21 PAT is a
Slide 12: FY22 Consolidated Financial Highlights
FY22 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +22% -10% 1,275.4 175.9 16.9% 1,042.5 158.5 12.4% FY21 FY22 FY21 FY22 FY21 FY22 Profit After Tax [Rs. Crs.] PAT margin [%] -10% 8.2% 85.8 77.5 6.1% FY21* FY22 FY21* FY22 *FY21 PAT is after adding back
Slide 13: Q4 & FY22 Consolidated Profit & Loss
Q4 & FY22 Consolidated Profit & Loss Profit & Loss [Rs. Crs.] Q4FY22 Q4FY21 Y-o-Y% Q3FY22 Q-o-Q% FY22 FY21 Y-o-Y% Total Income 366.6 287.9 27% 317.2 16% 1,275.4 1,042.5 22% Raw Material# 181.4 132.8 151.1 614.6 474.0 Employee Expenses 43.1 39.0 44.0 173.9 151.8 Other Expenses# 99.5 67.7 82.7 328.4 2
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs.) Mar-22 Mar-21 Equity & Liabilities (in Rs. Crs ) Mar-22 Mar-21 Non current Assets 480.9 456.4 Equity 934.0 890.5 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 180.4 147.6 Other Equity 898.0 854.5 Right to Use Asset 21.7 20.3 Capital W
Slide 15: Capex – Capacity expansion & other improvements
Capex – Capacity expansion & other improvements ➢ ~Rs. 50 Cr in FY23 & FY 24 (including Research & 1 IFGL Odisha Plant Technology Centre at Kalunga, Odisha for an estimated cost of Rs.20 crores) 2 IFGL Kandla Plant ➢ Rs. 44 Cr in FY23 & FY 24 Visakhapatnam 3 Project ➢ Rs. 65 cr by FY23 & FY 24 Capex
Slide 16: Research & Technology Centre at Kalunga, Odisha
Research & Technology Centre at Kalunga, Odisha Building a Research & Technology Centre at our existing plant in Kalunga, Odisha for an estimated cost of Rs. 20 crores. This will be completed within FY23 15
Slide 17: Consistently performing over the years…
Consistently performing over the years… Particulars [Rs. Crs.] FY18 FY19 FY20 FY21 FY22 Total Income 839.7 955.4 928.3 1,042.5 1,275.4 Materials consumed 421.4 477.0 459.1 474.0 614.6 Employee Expenses 126.7 146.2 150.5 151.8 173.9 Other Expenses 181.3 218.5 216.2 240.8 328.4 EBITDA 110.3 113.8 102.
Slide 18: …to create sustainable value for Shareholders…
…to create sustainable value for Shareholders… Total Debt (Rs. Crs.) Cash & Equivalents (Rs. Crs.) Net Debt (Rs. Crs.) FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 112.5 321.9 17.7 89.4 87.1 262.7 204.5 52.0 51.6 134.2 -44.8 94.8 -152.4 175.6 -270.3 Net Debt : Equity [x
Slide 19: …with consistent Payout
…with consistent Payout 100.0% 70.0% 25.0% 25.0% 20.0% 20.0% 20.0% FY16 FY17 FY18 FY19 FY20 FY21 FY22 Particulars (Rs.) FY16 FY17 FY18 FY19 FY20 FY21 # FY22 Consolidated Book Value Per Share 111.7 189.9 208.7 220.5 224.5 247.1 259.2 Consolidated Earning Per Share 12.1 13.9 13.1 14.0 11.1* 23.8* 21.5
Slide 20: Industry Overview
Industry Overview
Slide 21: Global Steel Demand Outlook
Global Steel Demand Outlook In MT World World (Ex China) Developing economies (Ex China) +1.3% +2.1% +2.5% 1,834 1,840 1,881 882 888 920 482 484 506 2021 2022F 2023F 2021 2022F 2023F 2021 2022F 2023F ➢ Global outlook: ▪ As per WSA, the current forecast assumes that steel demand will grow by 0.4% in
Slide 22: Forecasted Global Short-Term Steel Demand
Forecasted Global Short-Term Steel Demand In MT 2021 2022F 2023F +1.3% 1,881 1,834 1,840 +1.5% 1,313 1,337 1,298 +1.3% +2.8% 164 162 168 137 141 145 -0.4% +4.7% +3.5% -12.2% +4.3% 51 49 50 44 48 50 52 59 45 45 40 42 37 39 41 USMCA Central & EU Other Europe Africa Middle East CIS + Ukraine Asia & Oce
Slide 23: Top Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2021 2022F 2023F +0.5% 952.0 952.0 961.6 +6.7% +2.5% 120.9 106.1 114.1 97.1 99.8 102.1 +1.1% +1.1% 57.5 58.2 58.8 55.6 56.2 56.8 China India United States Japan South Korea Source: World Steel Association - Short Range Outlook April 2022 22
Slide 24: National Infrastructure Pipeline (NIP) Project
National Infrastructure Pipeline (NIP) Project National Infrastructure Pipeline Project (NIP) Government unveiled the multimillion-dollar National Infrastructure Pipeline (NIP), with projects spread across 18 Investment allocation under NIP states over the next five years Others, 28% Energy, 24% $5
Slide 25: Domestic Steel Industry on a strong footing in the long term
Domestic Steel Industry on a strong footing in the long term India is now the world's second largest steel producer, surpassing Japan 1 Target of 300 MT* of production capacity by 2 2030 (National Steel Policy, 2017) Strong recovery in all sectors especially in steel consuming sectors of Real Estate
Slide 26: 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 Huge export development and opportunity for India demand from the due to its low cost various sectors advantage Active local investment
Slide 27: About Refractories
About Refractories What are Refractories Refractories are material having high melting points, with properties that make them suitable to act as heat- resisting barriers between high and low temperature zones. Refractories are inorganic nonmetallic material which can withstand high temperature witho
Slide 28: About Us
27 About Us
Slide 29: A Global MNC…
A Global MNC… Monocon , UK Hofmann Ceramic, Mono Ceramics Inc Germany Michigan, US Tianjin Monocon Tianjin, China EI Ceramics, Cincinnati, US IFGL, Kandla SEZ 28
Slide 30: Corporate Structure…
Corporate Structure… IFGL Refractories Limited 3.604 Cr Equity Shares with a Face Value of Rs. 10 each 100% IFGL Worldwide Holdings Limited Plants at Kalunga, Odisha, India + Plant at Kandla SEZ, Gujarat, India 100% 100% 100% + Plant at Visakhapatnam, Andhra Hofmann Monocon Group Ceramic EI Ceramics
Slide 31: …with proven management…
…with proven management… Mr. S.K. Bajoria Mr. James McIntosh Mr. Kamal Sarda Chairman Managing Director Director & Chief Executive Officer • Promoter of S K Bajoria Group based at • Fellow Member of ICAI and a law graduate with Kolkata engaged in diversified business • Holder of Masters Degree in Te
Slide 32: …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 31
Slide 33: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry Committed to Clean Metal
Slide 34: 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 Agarwal Mr. Shogun Jain / Mr. Shrenik Shah rajesh.agarwal@ifgl.in shogun.jain@sgapl.net / shr