India Glycols Limited · NSE:INDIAGLYCO
India Glycols — Q4 FY24 Earnings Presentation
37 slides from India Glycols's earnings presentation, May 30, 2024
Slide 1: Regulation 30 disclosure cover letter to exchanges
30th May, 2024 The Manager (Listing) The Manager (Listing) BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Ring, Exchange Plaza, C-1, Block G, Rotunda Building, P.J. Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai- 400 051 Scrip Code: 50
Slide 2: Investor Presentation Q4 & FY24
Investor Presentation Q4 & FY24 May 2024
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation and the following discussion may contain “forward looking statements” by India Glycols Limited (“IGL” or the company) that are not historical in nature. These forward-looking statements, which may include statements relating to future results of operations, fi
Slide 4: Table of Contents
Table of Contents Q4 & FY24 Financial Highlights Q4 & FY24 Segmental Highlights Business Overview Annual Financial Highlights Annexures
Slide 5: Q4 & FY24 Financial Highlights
Q4 & FY24 Financial Highlights
Slide 6: FY24 Performance Overview
FY24 Performance Overview Figures in ₹ Cr. Gross Revenue Net Revenue EBITDA & EBITDA Margin PAT & PAT Margin +19% 11.9% 12.9% 5.3% 5.2% 7,922 +24% 600 +34% 6,642 +23% 3,294 500 428 2,651 400 173 319 141 300 200 100 - FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 ⦁ Registered positive performance both in t
Slide 7: Q4FY24 Performance Overview
Q4FY24 Performance Overview Figures in ₹ Cr. Gross Revenue Net Revenue EBITDA & EBITDA Margin PAT & PAT Margin +26% 16.1% 11.7% 6.4% 4.5% 250 2,039 +50% 1,616 200 +9% 926 150 +6% 109 619 100 100 40 42 50 - Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 ⦁ Registered a strong overall performa
Slide 8: Highlights – Q4 & FY24
Highlights – Q4 & FY24 Business Performance Figures in ₹ Cr. FY24 over FY23 Q4FY24 over Q4FY23 Net Revenue. up 24.3% at ₹ 3,294 Cr. Net Revenue grew sharply by 49.5% in Q4FY24 – BSPC up by 25.6% YoY to ₹ 2,141 Cr. – BSPC up by 60.1% YoY – PS up 25.6% YoY to ₹ 947 Cr. – PS up by 32.5% YoY – EB up
Slide 9: Highlights – Q4 & FY24
Highlights – Q4 & FY24 Figures in ₹ Cr. Other Highlights Expansion of facilities for New Value-Added Chemical products has been partially commissioned. Full commissioning expected by Q2FY25. Declared final dividend of ₹ 8 per equity share (80% of the Face Value) for FY24 JV: Q4 Revenue up 3%;
Slide 10: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. Particulars Q4FY24 Q4FY23 Y-o-Y (%) Q3FY24 Q-o-Q (%) FY24 FY23 Y-o-Y (%) Gross Revenue from Operations 2,039 1,616 26.2% 2,119 (3.8%) 7,922 6,642 19.3% Revenue from Operations (Net of excise) 926 619 49.5% 904 2.4% 3,294 2,651 24.3% Other Income 5 4
Slide 11: Financial Summary - Standalone
Financial Summary - Standalone Figures in ₹ Cr. Particulars Q4FY24 Q4FY23 Y-o-Y (%) Q3FY24 Q-o-Q (%) FY24 FY23 Y-o-Y (%) Gross Revenue from Operations 2,037 1,616 26.1% 2,119 (3.9%) 7,919 6,641 19.2% Revenue from Operations (net of excise) 924 619 49.2% 904 2.1% 3,291 2,650 24.2% Other Income 5 4 5
Slide 12: Q4 & FY24 Segmental Highlights
Q4 & FY24 Segmental Highlights
Slide 13: Segmental Highlights – Q4 & FY24
Segmental Highlights – Q4 & FY24 Net Revenue and EBIT Margin (%) Figures in ₹ Cr. Bio-Based Specialties and Potable Spirits (PS) Ennature Biopharma (EB) Performance Chemicals (BSPC) 500 1,600 450 10.9% 7.6% 7.3% 7.9% 15.6% 16.2% 13.5% 17.3% 26.3% 12.4% 25.4% 18.8% 1,400 400 1,200 350 2,000 2,141 300
Slide 14: Segmental Revenue and EBIT Mix - Consolidated
Segmental Revenue and EBIT Mix - Consolidated Revenue Mix EBIT Mix 7% 6% 7% 14% 30% 43% 27% 67% 63% 50% 51% 35% Q4FY24 Q4FY23 Q4FY24 Q4FY23 6% 7% 11% 18% 45% 45% 29% 65% 64% 29% 44% 37% FY24 FY23 FY24 FY23 BSPC PS EB BSPC PS EB 13 Consolidated Financials
Slide 15: Segment Performance – BSPC (Chemicals and Biofuels)
Segment Performance – BSPC ( Chemicals and Biofuels) Figures in ₹ Cr. Particulars Q4FY24 Q4FY23 % YoY Q3FY24 % QoQ FY24 FY23 Y-o-Y (%) Bio-based Specialities and Performance Chemicals (BSPC) Net Revenue 623 389 60.1% 609 2.3% 2,141 1,705 25.6% EBIT 47 42 11.4% 38 25.1% 168 125 34.8% % margin 7.6% 10
Slide 16: Segment Performance - PS
Segment Performance - PS Figures in ₹ Cr. Particulars Q4FY24 Q4FY23 % YoY Q3FY24 % QoQ FY24 FY23 Y-o-Y (%) Portable Spirits (PS) Net Revenue 247 187 32.5% 244 1.2% 947 754 25.6% EBIT 40 29 37.0% 41 (3.5%) 164 102 61.5% % margin 16.2% 15.6% 54 bps 17.0% (79 bps) 17.3% 13.5% 386 bps FY24 Revenue at
Slide 17: Segment Performance - EB
Segment Performance - EB Figures in ₹ Cr. Particulars Q4FY24 Q4FY23 % YoY Q3FY24 % QoQ FY24 FY23 Y-o-Y (%) Ennature Biopharma (EB) Net Revenue 56 43 28.4% 51 10.0% 205 192 7.0% EBIT 7 11 (39.3%) 12 (42.2%) 39 49 (20.7%) % margin 12.4% 26.3% (1,389 bps) 23.7% (1,123 bps) 18.8% 25.4% (659 bps) FY24
Slide 18: Business Overview
Business Overview
Slide 19: Company at a Glance
Company at a Glance Business Overview India Glycols Limited (IGL), founded in 1983, is one of the leading manufacturer of Bio-based Specialties & Performance ₹ 3,294 Cr ₹ 428 Cr Chemicals (BSPC), Potable Spirits (PS) and Ennature Biopharma (EB). It is the first company in the world to produce Ethyle
Slide 20: Key Strengths
Key Strengths 3+ decades of presence 3x3 strategy for Cost Effectiveness Diversified business R&D: Creating value with focus on Green model and applications Chemistry & Technical collaborations India’s leading Green Chemical Strong Management Team Company Integrated Mfg. facilities - 3 Financials pe
Slide 21: IGL Journey of more than 3 decades
IGL Journey of more than 3 decades 1983-1993 1994 - 2000 2001-2007 2008-2019 2020-2024 1983: Incorporation as 1994: Commissioning of EO 2001: Starting of glycol 2008: Expansion of MEG 2020: Commissioning of UP Glycols Ltd purification and first ether plant and gaur gum plant and commissioning saniti
Slide 22: Diversified business model and multi-functional application
Diversified business model and multi-functional application Business segments Bio-based Specialities and Potable Spirits (PS) Ennature Biopharma (EB) Performance Chemicals (BSPC) Bio Glycols: Bio Mono Ethylene Glycol, Bio Di Ethylene Glycol, License for operations and sale of Country Liquor in the e
Slide 23: India's leading Green Chemical Company
India’s leading Green Chemical Company Green is in IGL’s DNA and is the core of our business: Inspired by nature and Green chemistry, we create compounds based on decades of expertise, innovative engineering and sustainable technologies, while ensuring our environment remains untouched. Only manufac
Slide 24: Capabilities
Integrated Manufacturing facilities Kashipur Gorakhpur Dehradun 300-acre state 56-acre state of of art integrated art distillation & 1,60,000 sqft state manufacturing bottling complex of art facility complex Fermentation – Molasses and Grain Based Grain based Ethanol High Purity Extraction E
Slide 25: Leveraging synergies: integrated manufacturing for bio-based products
Leveraging synergies to create value–integrated manufacturing for bio-based products Portable Spirits (PS) Products Potable Power Industrial ENA O2, N2, Ar Spirit Brands Alcohol Gas Division Ind Gr. CO2 Grain O2 ASU EO-CO2 mix Business transferred to JV with Clariant Bio-based Specialities Green Mol
Slide 26: 3 x 3 Strategy for Cost Effectiveness
3 x 3 Strategy for Cost Effectiveness Mitigating costs with 3 possible sources of 3 possible outputs raw material Imported Bio-based Ethanol Chemicals Domestically Bio-fuels bought Ethanol In-house Potable Ethanol Spirits • Grain-based ethanol plants with capacities of 360 KLPD and 110 KLPD at Kashi
Slide 27: R&D: Creating value through focus on Green Chemistry
R&D: Creating value through focus on Green Chemistry with Technical collaborations IGL pioneers’ sustainable trends with innovative, technology-driven solutions that reduce carbon footprints, leveraging digital technologies to reach net zero emissions and lead the way in green innovation. The state-
Slide 28: Growth Drivers
Growth Drivers High prospects of growth of Increasing consumer Companies taking steps to Growing demand for natural IGL is ideally placed to seize industry sectors being awareness and demand for significantly decrease carbon and safer products in the opportunity arising out serviced by IGL – Persona
Slide 29: Annual Financial Highlights
Annual Financial Highlights
Slide 30: 3-year Financial Trajectory - Consolidated
3-year Financial Trajectory - Consolidated Figures in ₹ Cr. Gross Revenue Net Revenue 7,922 3,294 2,868 6,601 6,642 2,651 FY22 FY23 FY24 FY22 FY23 FY24 EBITDA & EBITDA Margin (%) Adj. PAT* & Adj. PAT Margin (%) 9.6% 11.9% 12.9% 4.1% 4.2% 5.2% 428 319 277 173 119 113 FY22 FY23 FY24 FY22 FY23 FY24 * P
Slide 31: 3-year Key Ratios - Consolidated
3-year Key Ratios - Consolidated Return on Capital Employed (%) Debt-to-Equity Ratio (x) 10.5% 0.64 0.59 0.58 7.5% 7.7% FY22 FY23 FY24 FY22 FY23 FY24 Cash Conversion Cycle* (Days) Interest Coverage Ratio (x) 60 59 43 2.82 2.71 2.26 FY22 FY23 FY24 FY22 FY23 FY24 * Cash Conversion Cyle = Debtor Days +
Slide 32: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. Particulars (In ₹ Cr) FY22 FY23 FY24 FY22-24 CAGR Gross Revenue from operations 6,601 6,642 7,922 9.5% Revenue from operations (Net of excise) 2,868 2,651 3,294 7.2% Other Income 22 24 26 Total Income 2,890 2,675 3,320 7.2% EBITDA 277 319 428 24.4% E
Slide 33: Financial Summary - Consolidated
Financial Summary - Consolidated Figures in ₹ Cr. Balance Sheet Cash Flow Statement Particulars (₹ Cr.) (as at end of) FY22 FY23 FY24 Particulars (₹ Mn) FY22 FY23 FY24 Fixed Assets 2,303 2,690 3,171 Cash and Cash Equivalents (Opening Balance) 3 7 2 CWIP 243 125 84 Investment 336 318 335 Cash Flow fr
Slide 34: Annexures
Annexures
Slide 35: Shareholder's Information
Shareholder’s Information Shareholding Pattern Shareholder Information as on 31st March 2024 BSE Ticker 500201 Public & NSE Symbol INDIAGLYCO Others, 31.72% Market Cap (in ₹ Cr.) 2,343.9 % Free- float 39.0% as on 31st March Free Float Market Cap (in ₹ Cr.) 913.9 Bodies 2024 Shares Outstanding (Cr.)
Slide 36: Sustainability, ESG
Sustainability, ESG Social Environment Governance Adherence to high safety and operational standards for handling hazardous materials. Employee and worker training for skill development. Implementation of preventive measures to enhance cyber security. Stakeholder engagement approach implemen
Slide 37: Thank you
Thank you India Glycols Limited Ernst & Young LLP CIN: L24111UR1983PLC009097 Rohit Anand Ankur Jain rohit.anand4@in.ey.com Company Secretary & Compliance Officer Riddhant Kapur Riddhant.kapur@in.ey.com Head office 2B, Sector-126, Noida Anubhav Khandelwal Gautam Budh Nagar Anubhav.khandelwal@in.ey.co