Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q4 FY14 Earnings Presentation
28 slides from Dcm Shriram's earnings presentation, 2014
Slide 1: DCM Shriram Limited Q4 & FY14 Results Presentation
DCM Shriram Limited Q4 & FY14 - Results Presentation 1
Slide 2: Safe Harbour
Safe Harbour Certain statements in this document may be forward-looking statements. 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 actua
Slide 3: Table of Content
Table of Content Title Slide No. FY14 Key Highlights 4 FY14 Financial Snapshot 5 FY14 Segment Performance 6 Balance Sheet Abstract 7 Q4 FY14 Key Highlights 8 Q4 FY14 Financial Snapshot 9 Q4 FY14 Segment Performance 10 Q4 & FY14 Performance Overview & Outlook 11-13 Management’s Message 14 Agri Input
Slide 4: FY14 – Key Highlights
FY14 – Key Highlights 1. Net Revenues higher by 11.6% at Rs. 6,182.2 crore driven by high growth in Shriram Farm Solutions (36.7%) and in the Sugar business (11.5%) 2. EBITDA at Rs. 558.9 crore vs. Rs. 574.1 crore : a) Chloro-Vinyl segment improved earnings performance b) Higher profits in Shriram F
Slide 5: FY14 – Financial Snapshot
FY14 – Financial Snapshot All figures in Rs. crore Revenues EBITDA Depreciation 6,182 5,539 574 559 147 138 FY13 FY14 FY13 FY14 FY13 FY14 Finance Costs PBIT (before exceptional PAT (post exceptional items) items) 427 421 242 203 155 149 FY13 FY14 FY13 FY14 FY13 FY14 * Note: a) Exceptional charge of
Slide 6: FY14 - Segment Performance
FY14 - Segment Performance Rs. crore Revenues PBIT# PBIT Margins % Segments FY13 FY14 % FY13 FY14 % FY13 FY14 Agri Input 2,268.8 2,862.6 26.2 113.5 108.4 (4.5) 5.0 3.8 - Fertilisers 525.9 625.4 18.9 11.1 23.2 109.0 2.1 3.7 - Shriram Farm Soln. 1,302.3 1,779.4 36.6 50.8 81.0 59.4 3.9 4.6 - Bioseed 44
Slide 7: Balance Sheet Abstract
Balance Sheet Abstract (Rs. in crores) PARTICULARS AS AT AS AT 31.03.2014 31.03.2013 Audited Audited A. EQUITY AND LIABILITIES 1 Shareholders' funds Increase in Networth from (a) Share Capital 32.77 33.34 (b) Reserves and Surplus 1,653.87 1,462.05 Rs. 1,495 crore to Rs. 1,687 1,686.64 1,495.39 2 Min
Slide 8: Q4 FY14 – Key Highlights
Q4 FY14 – Key Highlights 1. Net Revenues higher by 3.7% at Rs. 1,479.2 crore 2. EBITDA at Rs. 162.4 crore vs. Rs. 158.1 crore last year with: a) Sugar earnings improved significantly (Q-o-Q) led by sale of co-gen power, better sugar recovery and improved sugar prices in the later half of the quarter
Slide 9: Q4 FY14 – Financial Snapshot
Q4 FY14 – Financial Snapshot All figures in Rs. crore Revenues EBITDA Depreciation 1,427 1,479 158 162 35 34 Q4 FY13 Q4FY14 Q4 FY13 Q4 FY14 Q4 FY13 Q4 FY14 Finance Costs PBIT (before exceptional PAT (post exceptional items) items) 123 128 36 82 83 28 Q4 FY13 Q4 FY14 Q4 FY13 Q4 FY14 Q4 FY13 Q4 FY14 D
Slide 10: Q4 FY14 - Segment Performance
Q4 FY14 - Segment Performance Rs. crore Revenues PBIT# PBIT Margins % Segments Q4 FY13 Q4 FY14 % Q4 FY13 Q4 FY14 % Q4 FY13 Q4 FY14 Agri Input 560.6 550.0 (1.9) 32.0 (6.0) -- 5.7 (1.1) - Fertilisers 144.8 166.8 15.2 7.5 8.2 9.3 5.2 4.9 - Shriram Farm Soln. 304.7 313.0 2.7 7.6 15.0 97.4 2.5 4.8 - Bios
Slide 11: Q4 & FY14 - Performance Overview & Outlook
Q4 & FY14 - Performance Overview & Outlook • Operating performance stable • Earnings reflect higher volumes (in FY13, the Company took a maintenance shutdown) and energy savings on account of improved efficiencies • High level of subsidy outstanding impacting the business. However, loans against sub
Slide 12: Q4 & FY14 - Performance Overview & Outlook
Q4 & FY14 - Performance Overview & Outlook • Sales returns and lower sales in international markets moderated topline in FY14 • The above combined with inventory write-off in these markets led to decline in the earnings in FY14 • India operations registered growth in revenues and earnings of 38% and
Slide 13: Q4 & FY14 - Performance Overview & Outlook
Q4 & FY14 - Performance Overview & Outlook • In FY14, revenues and earnings were up by 5% and 9% respectively • PVC Resins business witnessed higher volumes (up by 11%) and prices (up by 14%) • Chlor-Alkali business sustained performance in FY14 with higher volumes (up by 5%), although the prices fo
Slide 14: Management’s Message
Management’s Message Commenting on the performance for the quarter, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: ‘’We are delighted to report encouraging performance led by Chloro Vinyl and Shriram Farm
Slide 15: Segmental Overview
Segmental Overview • Agri- Inputs o Fertilisers Agri Businesses o Shriram Farm Solutions o Bioseeds • Sugar • Chlor – Alkali • PVC Resins Chloro-Vinyl Businesses • Calcium carbide • Power Fenesta Building Systems Cement Polymer Compounds Textile Hariyali DCM Shriram Limited - Q4 & FY14 Results Prese
Slide 16: Agri- Input Businesses
Agri- Input Businesses The Agri input business contributed to ~46% of the total quarterly revenues of the Company. The Company continues to focus on these businesses given the huge opportunity in this area where the Company can capitalize on its long standing understanding of varied Agri businesses
Slide 17: Fertilisers (Urea)
Fertilisers (Urea) Operational Financial Sales Realizations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q4 FY14 101,039 16,277 166.8 8.2 Q4 FY13 105,330 13,540 144.8 7.5 % Shift (4.1) 20.2 15.2 8.9 FY14 403,608 15,432 625.4 23.2 FY13 385,354 13,553 525.9 11.1 % Shift 4.7 13.9 18.9 10
Slide 18: Shriram Farm Solutions
Shriram Farm Solutions Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q4 FY14 313.0 15.0 Q4 FY13 304.7 7.6 % Shift 2.7 98.4 FY14 1,779.4 81.0 FY13 1,302.3 50.8 % Shift 36.6 59.4 a) The portfolio comprises value-added products such as Seeds, Pesticides, Soluble fertiliser, Micro-nutrients etc. along w
Slide 19: Bioseed
Bioseed Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q4 FY14 70.2 (29.2) Q4 FY13 111.1 16.9 % Shift (36.8) -- FY14 457.7 4.2 FY13 440.6 51.6 % Shift 3.9 (91.9) a) Bioseed business is intensely research based and is uniquely diversified across key crops (Cotton, Corn, Paddy, Bajra and Vegetables) wi
Slide 20: Sugar
Sugar Operational Financial Sales (Lac Qtl) Realizations Revenues PBIT Particulars Free Sugar Levy Sugar *(Rs./Qtl) (Rs. cr.) (Rs. cr.) * Free Sugar Q4 FY14 11.7 -- 2,877 445.6 50.2 Q4 FY13 8.2 0.8 3,233 368.5 12.3 % Shift 42.7 -- (11.0) 20.9 309.4 FY14 42.8 -- 3,006 1,500.2 (5.4) FY13 33.4 3.1 3,24
Slide 21: Hariyali Kisaan Bazaar
Hariyali Kisaan Bazaar Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q4 FY14 101.5 5.6 Q4 FY13 93.0 (0.8) % Shift 9.1 -- FY14 429.1 8.3 FY13 515.6 (34.8) % Shift (16.8) -- a) Topline and earnings performance in line with plan to arrest financial losses from Hariyali Kisaan Bazaar b) Current revenues
Slide 22: Chloro-Vinyl Businesses
CHLORO-VINYL BUSINESSES The Chloro-Vinyl business of the Company has highly integrated operations with multiple revenue streams and economical captive power generation facilities. Chlor-Alkali operations are at two locations (Kota – Rajasthan and Bharuch – Gujarat). Chloro-Vinyl operates with full c
Slide 23: Chlor-Alkali
Chlor-Alkali Operational Financial Sales Realizations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q4 FY14 66,245 28,032 194.9 68.7 Q4 FY13 65,642 25,074 184.8 65.6 % Shift 0.9 11.8 5.5 4.7 FY14 257,702 25,565 707.1 233.5 FY13 244,902 26,543 711.9 247.5 % Shift 5.2 (3.7) (0.7) (5.7) a
Slide 24: Plastics
Plastics Operational Financial PVC PVC XWR Carbide Carbide XWR Revenues PBIT Particulars Sales Realizations Sales Realizations (Rs. cr.) (Rs. cr.) (MT) (Rs./MT) (MT) (Rs./MT) Q4 FY14 11,258 74,585 8,813 42,502 124.2 28.8 Q4 FY13 13,397 62,461 10,637 37,291 128.5 35.0 % Shift (16.0) 19.4 (17.1) 14.0
Slide 25: Cement
Cement Operational Financial Sales Realizations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q4 FY14 109,093 2,972 41.0 3.1 Q4 FY13 101,272 2,908 36.5 5.3 % Shift 7.7 2.2 12.4 (40.3) FY14 367,535 2,791 130.6 (0.3) FY13 362,153 3,114 135.2 17.3 % Shift 1.5 (10.4) (3.4) -- a) The Cement
Slide 26: Other Businesses
Other Businesses DSCL’s other operations, reported as ‘others’ in the financial results, include its businesses of Polymer Compounding, Fenesta Building Systems along with Textiles. In Q4 Revenues under ‘others’ stood at Rs. 71.6 crore in the quarter under review compared to Rs. 70.5 crore in the co
Slide 27: Fenesta Building Systems
Fenesta Building Systems Operational Financial Revenues Particulars Order Book (nos.) (Rs. cr.) Q4 FY14 26445 36.8 Q4 FY13 40,181 34.1 % Shift (34.2) 7.8 FY14 137409 163.9 FY13 171341 150.8 % Shift (19.8) 8.7 a) Fenesta with its diverse product line is regarded as a brand and product leader on a pan
Slide 28: 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-rural value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Fenesta and Bioseed. With a larg