National Fertilizers Ltd. · NSE:NFL
National Fertilizers — Q1 FY2019-20 Earnings Presentation
36 slides from National Fertilizers's earnings presentation, June 2019
Slide 1: Financial Performance for the Quarter Ended June 2019
FINANCIAL PERFORMANCE FOR THE QUARTER ENDED JUNE 2019
Slide 2: Brief Overview
BRIEF OVERVIEW Introduction • Incorporated on 23rd August, 1974. • Share Capital details as on 30.06.2019. Authorized capital : Rs. 1,000.00 crore. Paid up capital : Rs. 490.58 crore. Net-worth : Rs. 2,154.24 crore. Shareholding Pattern as on 30.06.2019: Government of India 74.71% Financia
Slide 3: Brief on Urea Manufacturing Activities
BRIEF ON UREA MANUFACTURING ACTIVITIES UREA Vijaipur‐I Vijaipur‐II Bathinda Panipat Nangal ANNUAL CAPACITY (Lakhs Metric Ton) – 8.646 8.646 5.115 5.115 4.785 32.31 LMT (Revised Assessed Capacity) Annual Capacity after Urea Capacity 9.999 10.662 5.115 5.115 4.785 Enhancement Projects at Vijaipur‐I &
Slide 4: Brief on Other Manufacturing Activities
BRIEF ON OTHER MANUFACTURING ACTIVITIES Cont… Other Manufacturing:‐ (Industrial Products, Bio‐Fertilizers , Technical Surplus Ammonia) etc. : S. No. Products Located in No. of Annual Capacity of each streams stream (MT) Industrial Products 1. Nitric acid Nangal 2* 91410 2. Ammonium Nitrate Nangal 2*
Slide 5: Brief on Trading Activities
BRIEF ON TRADING ACTIVITIES (Sale Based) Cont… Traded Goods : S. No. Products 2015‐16 2016‐17 2017‐18 2018‐19 Imported Fertilizers LMT LMT LMT LMT 9. DAP 0.51 2.14 3.28 5.04 10. MOP ‐ ‐ 0.27 ‐ 11. APS ‐ ‐ 0.26 0.26 12. NPK ‐ ‐ ‐ 0.68 13. Urea (Govt A/C) ‐ ‐ ‐ 3.70 14. BS 0.01 0.03 ‐ ‐ Total (9+10+11
Slide 6: Production of Urea
Production of Urea (Qty. in LMT) Production of Urea Plants 2015‐16 2016‐17 2017‐18 2018‐19 NANGAL 5.47 5.02 5.43 5.41 PANIPAT 5.67 5.43 5.60 5.74 BATHINDA 5.48 5.68 5.63 5.84 VIJAIPUR- I 9.92 10.58 10.50 10.28 VIJAIPUR-II 11.44 11.39 10.95 11.32 TOTAL 37.99 38.10054 38.10250 38.59 Capacity utilizati
Slide 7: Financial Performance at a Glance
FINANCIAL PERFORMANCE AT A GLANCE (Preceding 4 Years) (Rs. crore) SL .No. Particulars 2015‐16 2016‐17 2017‐18 2018‐19 1 Production (Urea) (LMT) 37.99 38.10054 38.10250 38.59 2 Capacity Utilization w.r.t. RAC (Urea %) 117.60 117.90 117.94 119.46 3 Sale of Urea (LMT) 36.41 37.58 39.16 38.98 4 Sale of
Slide 8: Financial Performance at a Glance
FINANCIAL PERFORMANCE AT A GLANCE (Preceding 4 Years) (Rs. crore) Particulars 2015‐16 2016‐17 2017‐18 2018‐19 SL. No. 18 Net Fixed Assets 4291 4109 4144 4127 19 Working Capital 1487 1424 981 1203 20 Long Term Borrowings 1828 981 170 341 STL* (without SBA) 4296 1989 2695 4670 SBA 0 1165 195 1452 21 T
Slide 9: Sales (Preceding Years)
SALES (Preceding 4 Years) SL .No. Particulars 2015‐16 2016‐17 2017‐18 2018‐19 1 Sale of Urea (LMT) 36.41 37.58 39.16 38.98 2a Sale of Traded Goods:‐ (Fertilizers) 1. DAP (LMT) 0.51 2.14 3.28 5.04 2. MOP (LMT) ‐ ‐ 0.27 ‐ 3. APS (LMT) ‐ ‐ 0.26 0.26 4. NPK(LMT) ‐ ‐ ‐ 0.68 5. Urea (Govt. ) ‐ ‐ ‐ 3.70 6.
Slide 10: Performance for the Quarter June 2019
PERFORMANCE FOR THE QUARTER JUNE‐2019 10
Slide 11: Performance Highlights for Quarter Ended 30.06.2019
PERFORMANCE HIGHLIGHTS FOR QUARTER ENDED 30.06.2019 Production of urea of 7.91 LMT (9.12 LMT during CPLY), shortfall 1.21 LMT Sale of total urea 8.79 LMT (8.56 LMT during CPLY) including urea imported on Govt. A/c. Sale of DAP/MOP/APS/NPK : 1.48 LMT [CPLY 0.59 LMT] Sale of all fertilizers of
Slide 12: Overall Performance
OVERALL PERFORMANCE (Rs. crore) Particulars Qtr. CPLY Increase/(decrease) June Rs. crore % 2019 Total Revenue from Operation 2547.04 2162.40 384.64 18 Total Expenses 2530.52 2019.41 511.11 25 Earnings before Interest, Tax Depreciation 16.52 142.99 (126.47) (88) and Amortization (EBITDA) Add : Other
Slide 13: Revenue From Operation Growth
Revenue From Operation Growth Rs. 2547.04 crore (Qtr. June 2019) (18%) Rs. 2162.40 crore (CPLY) 13
Slide 14: Production, Purchase & Sale
PRODUCTION, PURCHASE & SALE LMT Particulars Qr. June-19 CPLY Increase/(decrease) LMT LMT LMT % Urea Production 7.91 9.12 (1.21) (13) Urea Sale (Own) 7.60 8.56 (0.96) (11) Purchase of Imported 4.29 2.11 2.18 103 Fertilizers (DAP/MOP/APS/NPK) Sale of Imported Fertilizers 1.44 0.54 0.90 167 (DAP/MOP/AP
Slide 15: Zone wise Sale of Urea
Zone wise sale of urea (Including Imported Urea on Govt. Account) (Lakh MT) Zonal Offices April-June April-June Increase/ 2019 2018 (Decrease) Chandigarh Zone 3.97 3.87 0.10 Bhopal Zone 2.32 2.53 (0.21) Lucknow Zone 2.20 2.16 0.04 Hyderabad Zone 0.30* - 0.30 TOTAL 8.79 8.56 0.23 Note:-* Hyderabad
Slide 16: Sale of DAP/MOP/APS/NPK/Compost/Urea
Sale of DAP/MOP/APS/NPK including 10:26:26/Compost/ Urea (Govt. Account) (Lakh MT) Particulars April – June 19 April – June 18 Increase/ % (Decrease) DAP 1.34 0.44 0.90 205 MOP 0.01 0.00 0.01 - APS - 0.03 (0.03) (100) NPK 0.06 0.07 (0.01) (14) NPK 10:26:26 0.03 - 0.03 - Compost 0.03 0.05 0.02 (40) S
Slide 17: Sale Breakup Segment wise
Sale Breakup Segment wise‐Urea/Traded goods/Industrial Product & Others Product & Services (Value & % Sale) Qtr‐June‐2019 Qtr‐June‐2018 Other Products & Fertilizer Other services, ₹ Trading , ₹ Products & Fertilizer 49.93, 188.62, Trading , ₹ services, ₹ 1.96% 643.73, 8.72% 58.70, 25.27% 2.71% Own F
Slide 18: Details of Expenses for the Quarter June 2019
DETAILS OF EXPENSES FOR THE QUARTER JUNE‐2019 18
Slide 19: Details of Expenses for Qr. June 19
Details of Expenses for Qr. June 19 Particulars Qr. June CPLY Increase/ Key reasons 19 (Decrease) Production of urea (LMT) 7.91 9.12 (1.21) Due to plant shutdown / trippings. Sale of urea (Own) (LMT) 7.60 8.56 (0.96) Due to lower production (1.21 LMT) (Rs. Crore) (Rs. Crore) (Rs. Crore) Cost of Mate
Slide 20: Urea Production (Quarterly)
UREA PRODUCTION (Quarterly) Lakh MT Unit Qtr 30.06.2019 CPLY Reason for increase/ decrease in production 1.46 1.03 Shutdown taken during CPLY (from 08.04.2018 to 30.04.2018). Nangal (Increase of 0.43 LMT) 1.24 1.45 Shutdown during May/June 2019 to attend urea reactor liner Panipat leakage, boiler tu
Slide 21: Production of Urea in the 1st Quarter in Preceding Years
Production of Urea in the 1st Quarter in Preceding 4 Years (Qty. in LMT) Production of Urea for the 1st Quarter (Apr to June) 2016‐17 2017‐18 2018‐19 2019‐20 Units Q1 Q1 Q1 Q1 NANGAL 1.06 1.38 1.03 1.46 PANIPAT 1.20 1.44 1.45 1.24 BATHINDA 1.42 1.23 1.46 1.13 VIJAIPUR- I 2.63 2.36 2.35 1.94 VIJAIPUR
Slide 22: On-Stream Days
On-Stream Days (for the 1st Quarter in Preceding 4 Years) (No. of Days) Stream Days for the 1st Quarter (Apr to June) 2016‐17 2017‐18 2018‐19 2019‐20 Units Q1 Q1 Q1 Q1 NANGAL 67 84 67 88 PANIPAT 76 88 91 76 BATHINDA 89 76 89 71 VIJAIPUR- I 87 79 78 66 VIJAIPUR-II 74 90 86 67 22
Slide 23: Energy Consumption
ENERGY CONSUMPTION (GCAL/MT OF UREA) Energy Norms for 2019‐20 Actual Energy Units Qr. June 2019 CPLY Nangal 7.065 6.742 6.798 Panipat 7.558 7.083 6.665 Bathinda 7.430 6.952 6.756 Vijaipur I 5.884 6.250 5.840 Vijaipur II 5.500 5.759 5.459 During the quarter Nangal, Bathinda and Panipat units has ac
Slide 24: Profit Variance Analysis for Qtr Ended 30th June 2019
PROFIT VARIANCE ANALYSIS FOR QTR ENDED 30th JUNE 2019 Company has incurred loss before tax of Rs (96.76) crore during the quarter ended June‐19 as against profit before tax of Rs 65.91 crore during CPLY i.e. decrease in profit by Rs 162.67 crore. PBT has decreased mainly due to: 1. Increase in energ
Slide 25: Break up of Total Finance Cost for Qtr. June 2019
BREAK UP OF TOTAL FINANCE COST FOR Qtr. JUNE 2019 Rs. crore The finance cost for the Qtr ended June-2019 was Rs.105.47 crore as compared to Rs. 64.31 crore during CPLY as per details below: Rs. Crore Particulars Qr. June 19 CPLY Increase/ (Decrease) Interest on Long Term Loans (A) 1.62 1.88 (0.26) I
Slide 26: Analysis of Finance Cost on Working Capital
ANALYSIS OF FINANCE COST ON WORKING CAPITAL FOR Qtr. JUNE 2019 Rs. crore Increase/ Particulars Qr. June-19 CPLY (Decrease) Interest on working capital Loans (excluding interest on trading activities) 88.95 54.19 34.76 Interest on Trading Activities 13.57 7.61 5.96 Other borrowing costs (CP related c
Slide 27: Segment Results for Qtr June 19
SEGMENT RESULTS FOR Qtr June 19 27
Slide 28: Segment Results
SEGMENT RESULTS Rs. crore Particulars Qtr June 19 Qtr June 18 Segment Revenue Own Fertilizers (Urea, BS and Bio-fertilizers) 1853.38 1915.08 72.77% 88.56% Fertilizer Trading 643.73 188.62 25.27% 8.72% Other Products 49.93 58.70 1.96% 2.71% Total 2547.04 2162.40 Segment Results Own Fertilizers (Urea,
Slide 29: Consolidated Accounts
CONSOLIDATED ACCOUNTS 29
Slide 30: Consolidated Accounts
CONSOLIDATED ACCOUNTS As per Listing Agreement implemented w.e.f. 1.04.2019, and BSE notification dated 22.11.2018, the Company has prepared standalone and consolidated quarterly financial results considering the financial results of associate companies i.e. Ramagundam Fertilizers and Chemicals Li
Slide 31: Consolidated Accounts
CONSOLIDATED ACCOUNTS STANDALONE CONSOLIDATED Particulars Qtr June 19 Qtr June 18 Qtr June 19 Qtr June 18 Revenue from operations 2547.04 2162.40 2547.04 2162.40 Total Expenses 2553.23 2037.54 2553.23 2037.54 Profit/ (Loss) from operations before other income, finance cost (6.19) 124.86 (6.19) 124.8
Slide 32: Consolidated Accounts
CONSOLIDATED ACCOUNTS The Assets and Liabilities as at 30th June, 2019 are as under:‐ STANDALONE CONSOLIDATED Particulars As on As on As on As on 30.06.2019 30.06.2018 30.06.2019 30.06.2018 ASSETS Non‐current assets 4570.65 4348.63 4565.38 4346.66 Current assets 9398.89 6801.48 9398.89 6801.48 Asset
Slide 33: New Projects and Other Activities
NEW PROJECTS AND OTHER ACTIVITIES 33
Slide 34: Projects and Other Activities Status
Project s and Other Activities status Commercial production of Bentonite Sulphur Plant at Panipat with annual capacity of 25000 MT declared w.e.f. 20.09.2018. Company has contributed Rs. 307.37 crore towards equity in its JV Company (RFCL) out of total requirement Rs. 396 crore. Term loan has
Slide 35: Overview of Ramagundam Project
Overview of Ramagundam Project (Being executed by RFCL) Joint Venture of NFL, Engineers India Limited (EIL) & Fertilizers Corporation of India Limited (FCIL) is undertaking the revival of Ramagundam unit of FCIL through RFCL Plant Capacity Ammonia Plant : 2200 MTPD (0.726 MMTPA) Urea Plant : 3850
Slide 36: Thank You
THANK YOU 36
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