Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q1 FY22 Earnings Presentation
26 slides from Dcm Shriram's earnings presentation, Jul 20, 2021
Slide 1: DCM Shriram Ltd. Q1 FY22 - Results Presentation
DCM Shriram Ltd. Q1 FY22 - Results Presentation July 20, 2021 1
Slide 2: Safe Harbour
Safe Harbour Certain statements in this document may be forward-looking. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results t
Slide 3: Table of Content
Table of Content Title Slide No. Q1 FY22 Key Highlights 4 Projects 6 Financial Snapshot 7 Segment Performance 8 Returns & Leverage 9 Management’s Message 10 Segmental Details Chloro-Vinyl Businesses 12-16 Sugar 17-19 Agri Input Businesses 20-22 Other Businesses 23-25 About Us & Investor Contacts 26
Slide 4: Q1 FY22 - Key Highlights
Q1 FY22 - Key Highlights 1. Net Revenues (net of excise duty*) stood at Rs.1,957 crs for Q1 FY’22 vs Rs. 1,912 crs in Q1 FY’21: The Revenues were positively impacted by: Revenue for Chemicals business is up by 76% at Rs 412 crs and for Fenesta up by 168% at Rs 108 crs: Higher volumes in Chemic
Slide 5: Q1 FY22 - Key Highlights
Q1 FY22 - Key Highlights 2. PBDIT for Q1 FY22 up 56% YoY at Rs 300 crs. PBDIT was positively impacted by: Vinyl (Plastics) PBDIT at Rs 90 crs vs Rs 7 crs during same period last year led by higher prices. Chemicals PBDIT Rs 113 crs vs Rs 61 crs during Q1 FY21 led by volumes and higher ECU pric
Slide 6: Projects
Projects 1. Under implementation at a investment of ~ Rs. 2,100 crs at Bharuch Chemical Complex: 120 MW new coal based power plant expected to be commissioned by end of Q1 FY23. Other projects are progressing as per schedule: Epichlorohydrine (ECH) with a capacity of 51,000 TPA along with Glyc
Slide 7: Q1 FY22 - Financial Snapshot
Q1 FY22 - Financial Snapshot Revenue (Net) PBDIT Depreciation 1,957* 1,912 300 192 59 57 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 PBIT Finance Cost** PAT 243 133 158 43 27 69 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 * Net of excise duty on country liquor sales amounting to Rs 50.8 crs.
Slide 8: Q1 FY22 - Segment Performance
Q1 FY22 - Segment Performance Rs crs Revenues (Net) PBIT PBIT Margins % YoY % YoY % Segments Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Change Change Chloro-Vinyl 598.4 315.6 89.6 177.9 43.4 310.2 29.7 13.7 Sugar 563.5* 877.4 (35.8) 23.4 71.8 (67.5) 4.1 8.2 SFS 212.4 209.5 1.4 15.8 17.5 (9.3) 7
Slide 9: Q1 FY22 - Returns & Leverage
Q1 FY22 - Returns & Leverage PBDIT to Net Sales Net Debt/ EBITDA 1.05 15.0% 15.3% 10.1% 0.14 0.09 FY21 Q1 FY21 Q1 FY22 FY21 Q1 FY21 Q1 FY22 ROCE Capital Employed 20.8% 5,497 4,954 4,993 18.0% 15.4% Rs FY21 Q1 FY21 Q1 FY22 FY21 Q1 FY21 Q1 FY22 Note : ROCE and Net Debt/ EBITDA Calculated on TTM basis
Slide 10: Management's Message
Management’s Message Commenting on the performance for the quarter ending June 2021, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: The performance during the quarter was robust despite the challenges of s
Slide 11: Segmental Details
Segmental Details • Caustic Soda (1,845 TPD) • Aluminum Chloride (60 TPD) Chloro-Vinyl • PVC Resins (220 TPD) Businesses • Calcium carbide (112,000 TPA) • Agri- Businesses o Sugar (38,000 TCD) o Co-Gen (155 MW) Agri o Distillery (350 KLD) Businesses o Shriram Farm Solutions o Bioseeds o Fertilizers
Slide 12: Chloro Vinyl Business
Chloro Vinyl Business PBIT Cap. Employed Particulars Revenues (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q1 FY22 598.4 177.9 1,689.4 Q1 FY21 315.6 43.4 1,496.4 % Shift 89.6 310.2 12.9 The Chloro-Vinyl business of the Company has highly integrated operations with multiple revenue streams and 225 MW captive power
Slide 13: Chemicals
Chemicals Operational Financial Caustic Sales ECU Realizations Revenues PBIT Particulars PBIT Margin % (MT) (Rs./MT) (Rs Cr.) (Rs. Cr.) Q1 FY22 134,606 24,309 412.3 92.2 22.4 Q1 FY21 82,059 21,838 233.8 40.2 17.2 % Shift 64.0 11.3 76.3 129.2 30.0 Import Caustic and DCM ECU Prices 32,000 500 DCM Real
Slide 14: Chemicals
Chemicals Domestic demand lost during Covid-19 recovered by Mar - Apr 2021. Downstream demand from textiles, pulp and paper and other chlor alkali consumers recovered near to pre-covid levels. However, second wave of Covid in Q1 FY21 led to drop in demand again which is expected to recover as Indu
Slide 15: Plastics
Plastics Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBIT Particulars Realizations Realizations PBIT Margin % (MT) (MT) (Rs Cr.) (Rs. Cr.) (Rs./MT) (Rs./MT) Q1 FY22 12,960 125,003 1,942 85,777 186.1 85.6 46.0 Q1 FY21 10,289 67,050 1,835 55,366 81.8 3.1 3.8 % Shift 26.0
Slide 16: Plastics
Plastics Revenue for Q1 FY22 up 128% YoY at Rs 186 crs, however, lower 32% QoQ. o PVC prices up 86% YoY and carbide prices up 55% YoY. Domestic PVC prices moving in line with international prices and are still very attractive. Volumes were higher YoY during Q1 FY22 as during Q1 FY 21, plant restar
Slide 17: Sugar
Sugar Particulars Revenues (Rs. Cr.) PBIT (Rs. Cr.) PBIT Margin % Cap. Employed (Rs. Cr.) Q1 FY22 563.5* 23.4 4.1 2,383.3 Q1 FY21 877.4 71.8 8.2 2,400.4 % Shift (35.8) (67.5) (49.3) (0.7) Capital employed includes CWIP of Rs 17 crs at 30th June, 2021 vs Rs 19 crs at 30th June, 2020. DCM Sugar Realiz
Slide 18: Sugar
Sugar Sugar Sugar Power Distillery Distillery Sugar Sales Distillery Production (Domestic) Power Sales Realizations Realizations - Realizations - Particulars (Domestic) Sales (Lac Qtls) Realizations (Lac Units) (Rs/ unit) B Heavy C Heavy (Rs/ (Lac Qtls) (Lac Ltrs) (Rs/Qtl) (Lac Units) (Rs/ Ltrs) Ltr
Slide 19: Sugar
Sugar Q1 FY22 overall sugar revenues down 36% YoY at Rs 563 crs (net of excise duty on country liquor sales amounting to Rs 50.8 crs) primarily impacted by sugar and power sales volumes. o Domestic sales volumes at 10.5 lac qtls lower 36% YoY due to lower sales quota release from the government. M
Slide 20: Shriram Farm Solutions
Shriram Farm Solutions Revenues PBIT Cap. Employed Particulars PBIT Margin % (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q1 FY22 212.4 15.8 7.4 35.7 Q1 FY21 209.5 17.5 8.3 87.1 % Shift 1.4 (9.3) (10.6) (59.0) The products includes Seeds, Pesticides, Soluble Fertilizer, Micro-nutrients etc. This business is season
Slide 21: Bioseed
Bioseed Revenues (Rs. Cr.) PBIT Cap. Employed Particulars PBIT Margin % (Rs. Cr.) (Rs. Cr.) India International Total Q1 FY22 135.9 52.6 188.5 25.1 13.3 505.7 Q1 FY21 167.3 32.9 200.2 47.8 23.9 440.6 % Shift (18.8) 59.8 (5.9) (47.5) (44.2) 14.8 Bioseed business is intensely research based and is div
Slide 22: Fertilizers (Urea)
Fertilizers (Urea) Operational Financial Sales Realizations Revenues PBIT Cap. Employed Particulars PBIT Margin % (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q1 FY22 75,641 23,322 219.6 30.2 13.8 292.9 Q1 FY21 95,053 20,195 203.2 5.8 2.8 723.1 % Shift (20.4) 15.5 8.1 425.7 386.4 (59.5) Q1 FY22 rev
Slide 23: Other Businesses
Other Businesses The ‘Others’ Segment in the financial results, includes Cement, Fenesta Building Systems and Hariyali Kisaan Bazaar. Revenues under ‘Others’ stood at Rs 204 crs crs in Q1 FY22 from Rs. 127 crs in Q1 FY21. PBIT for the quarter stood . at Rs. 7 crs vis-à-vis –ve Rs. 7 crs in Q1 FY21.
Slide 24: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book (Rs Crs) Revenues Particulars PBIT PBIT Margin % Retail Projects Total Total Q1 FY22 56.5 30.2 86.7 108.5 8.7 8.0 Q1 FY21 34.5 11.9 46.4 40.4 (9.5) (23.5) % Shift 63.9 153.6 86.9 168.2 - - Fenesta a pan India brand has become synonymous with
Slide 25: Cement
Cement Operational Financial Sales Realizations Revenues PBIT PBIT Margin % Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) Q1 FY22 107,581 3,622 46.6 (1.0) (2.0) Q1 FY21 69,646 3,832 31.3 2.5 8.0 % Shift 54.5 (5.5) 48.8 - - The Cement business is small, since its capacity is driven by the waste gener
Slide 26: About Us & Investor Contacts
About Us & Investor Contacts DCM Shriram Ltd. is an integrated business entity, with extensive and growing presence across the entire Agri value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Bioseed and Fenesta. Access to captive