Shree Pushkar Chemicals & Fertilisers Ltd. · NSE:SHREEPUSHK
Shree Pushkar Chemicals & Fertilisers — Q1 FY2020 Earnings Presentation
33 slides from Shree Pushkar Chemicals & Fertilisers's earnings presentation, August 2019
Slide 1: Shree Pushkar Chemicals & Fertilisers Limited Investor Presentation
Shree Pushkar Chemicals & Fertilisers Limited Investor Presentation August 2019
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shree Pushkar Chemicals & Fertilisers Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or s
Slide 3: Q1FY20 Highlights
Q1FY20 Highlights
Slide 4: Q1FY20 Performance Highlights
Q1FY20 Performance Highlights Total Revenue from operations (Rs in Crores) Revamping of the Manufacturing facilities at Unit -1 situated within MIDC Lotte Unit 1 is under revamp for Unit 1 is under revamp for • Dismantling/ Scrapping/Modifying some of the vessels/ major overhaul, maintenance & major
Slide 5: Other Key Highlights
Other Key Highlights EBITDA Revamping of the Manufacturing facilities at (Rs in Crores) Unit -1 situated within MIDC Lotte • The Revamp project is progressing well 16.8 • It will take place in a phased manner with a capex cost of ~ Rs. 5 Crs 10.6 10.8 • The revamp is expected to be completed by end
Slide 6: Segmental Revenue Breakup
Segmental Revenue Breakup Dyestuff Dye Intermediates (Rs in Crores) Higher captive consumption for dyes +17% production -32% 19.6 54.9 16.8 Revamp of Unit 1 37.1 Q1FY19 Q1FY20 Q1FY19 Q1FY20 Acid Complex & Others Fertilisers +20% +41% 5.4 30.1 4.5 21.4 Q1FY19 Q1FY20 Q1FY19 Q1FY20 On Consolidated Basi
Slide 7: Q1FY20 Segmental Highlights
Q1FY20 Segmental Highlights • Sustained contribution from Dyestuff segment to our revenues which has been on the uptrend. We believe, the realization of Dyestuff to improve as the increase in prices of dye intermediates gets passed on to the dyestuff Revenue Break up Q1FY20 • Acid Complex Division c
Slide 8: Planned Expansion through Internal Accrual
Planned Expansion through Internal Accrual Rs 120 crs Capex through Internal Accrual 28crs 75crs 5crs 12crs In process of acquiring Madhya The planned capex of ~Rs. 75 Revamping of the Manufacturing Company is planning for Rs 12 Bharat Phosphates Pvt. Ltd, crores in the dye intermediaries’ facilitie
Slide 9: Q1FY20 Consolidated P&L Statement
Q1FY20 Consolidated P&L Statement Particulars (Rs. In Crores) Q1FY20 Q1FY19 Y-o-Y Q4FY19 Q-o-Q FY19 Revenue from Operations 92.2 97.5 -5.5% 117.6 -21.7% 451.9 Raw Material 60.2 64.9 84.2 302.6 Employee Cost 6.0 4.7 6.7 30.1 Other Expenses 15.2 11.0 16.1 52.1 EBITDA 10.8 16.8 -35.6% 10.6 2.5% 67.1 EB
Slide 10: Q1FY20 Standalone P&L Statement
Q1FY20 Standalone P&L Statement Particulars (Rs. In Crores) Q1FY20 Q1FY19 Y-o-Y Q4FY19 Q-o-Q FY19 Revenue from Operations 77.7 86.1 -9.8% 102.2 -24.0% 400.2 Raw Material 52.2 57.9 75.8 273.8 Employee Cost 5.1 4.2 5.9 26.7 Other Expenses 12.0 9.3 12.3 41.1 EBITDA 8.4 14.7 -43.1% 8.3 1.0% 58.5 EBITDA
Slide 11: Company Overview
Company Overview
Slide 12: About Us
About Us An Integrated Speciality Caters to the Being inventive A leading producers of Dye Intermediaries Chemicals and Colourants in delivering and Dyestuff and has the widest range of leading textile manufacturing company, Dye Intermediaries offering with high and apparel high quality dealing in t
Slide 13: Evolution of Our Business
Evolution of Our Business 1993 - 2003 2004 - 2010 2011 - 2016 2017 - 2018 2019 & Beyond • Commenced trading/imports of • In 2011, began use of Spent •Rapidly expanded Dyestuff •In process of acquiring Madhya • Recycling of effluents from chemical products & dye acid for manufacturing of SSP Segment
Slide 14: Key Management
Key Management Punit Makharia Gautam Makharia Chairman & Managing Director Managing Director A first-generation entrepreneur, he holds a Bachelors in Commerce with a rich business With and BE in Electronics and an experience of over 2 decades in dealing with MBA(Finance), his experience spans chemic
Slide 15: Product Portfolio
Product Portfolio DyeStuff Constantly on the improvement based on market response with Dye Intermediates over 30 different shades in Reactive dyes Black, Yellow & Red Gamma Acid, K- Acid, R- Salt, Vinyl Sulphone, Meta Fertilizers Used for Dying of Textile / Yarns Ureido Aniline and H- Acid commonly
Slide 16: An Overview of Dyestuff Segment
An Overview of Dyestuff Segment Dyestuff Revenue (Rs in Crores) • We are one of the leading manufacturer of Reactive Dyes. Primarily used for dyeing textiles, for cellulosic fibers like cotton/flax & also wool. Our belief in sustainability led 109.1 to the launch of DYECOL™ range of Reactive Dyes to
Slide 17: An Overview of Dye Intermediates Segment
An Overview of Dye Intermediates Segment • We have started manufacturing Dyes Intermediates with a single product in the Dye Intermediates Revenue (Rs in Crores) year 2001, the company now manufactures over 10 different types of Dye Intermediates like H Acid, Vinyl Sulphone, Para Base, K Acid, Gamma
Slide 18: Zero Waste Methodology – Creating Value
Zero Waste Methodology – Creating Value Gamma Acid B –Napthol K - Acid Final Products Meta Ureido Aniline R Salt Vinyl Sulphone Effluents Di Calcium Phosphate Sulpho VS H - Acid Effluents Effluents Chloro Sulphonic Acid Soil Conditioner SSP 18
Slide 19: An Overview of Fertiliser Segment
An Overview of Fertiliser Segment • The main raw materials for SSP are rock phosphate and sulphuric acid and it is based one of the Single Super Fertilisers Revenue* (Rs in Crores) simplest chemical reactions in the fertilizer industry phosphate (SSP) • SSP, which is a poor farmer's fertilizer (pric
Slide 20: An Overview of Fertiliser Segment
An Overview of Fertiliser Segment Geographic Facilities Rationale Growth Driver Impact Expansion Due to backward Good monsoon Lotte integration, we Maharashtra, Karnataka to improve Rabi Purshuram Unit have entered Fertilizer Business & Kharif Crops Increasing Presence in leading Agriculture States
Slide 21: Manufacturing Capabilities
Manufacturing Capabilities Strategic location at Lote Parshuram, Maharashtra… Unit 1 – Dye Intermediates Unit 2 – SSP Granulation Plant Unit 3 - New Reactive Dyes Plant Unit 4 - SOP Kisan Phosphates Pvt. Ltd. New Application Lab for Testing of Dyes Sulphuric Acid Plant Commenced Sulphuric Acid plant
Slide 22: Our Strengths
Our Strengths Substantial increment in the contribution from Fast Paced Growth We do not incur large costs on effluent Zero Waste Dyestuff Segment to our Revenue on a quarter on in our Dyestuff treatment due to our zero waste model Chemical quarter basis Segment Company Low Financial We are backward
Slide 23: Growth driven by Every Business Unit
… Growth driven by Every Business Unit Commenced Fertilizers Acid Complex Export Dye (including Dyestuff & Growth business Intermediates Kisan Others in 2016 Phosphate) Export Revenue Dye Intermediates – Acid Complex & FY19 – Revenue % Dyestuff – 24% Fertilizer– 20% Rs 91 Crs (20%) 50% Others – 5.6%
Slide 24: Financial Highlights
Financial Highlights
Slide 25: Consolidated P&L Statement
Consolidated P&L Statement Particulars (Rs. In Crores) FY19 FY18 Y-o-Y Revenue from Operations (Net of Excise) 451.9 395.3 14.3% Raw Material 302.6 272.1 Employee Cost 30.1 18.7 Other Expenses 49.8 43.3 Adj. EBITDA* 69.3 61.2 13.3% Adj. EBITDA Margin* 15.3% 15.5% One off Expenses* 2.2 0.0 Other Inco
Slide 26: Consolidated Balance Sheet
Consolidated Balance Sheet EQUITY AND LIABILITIES (Rs. In Crores) Mar-19 Mar-18 ASSETS (Rs. In crores) Mar-19 Mar-18 Equity Non-current assets Equity Share capital 30.7 30.2 Property, plant and equipment 167.3 161.4 Other equity 253.7 206.9 Capital work-in-progress 10.5 3.4 Sub-total - Shareholders'
Slide 27: Standalone P&L Statement
Standalone P&L Statement Particulars (Rs. In Crores) FY19 FY18 Y-o-Y Revenue from Operations (Net of Excise) 400.2 370.2 8.1% Raw Material 273.8 258.3 Employee Cost 26.7 17.0 Other Expenses 38.9 37.7 Adj. EBITDA* 60.7 57.2 6.2% Adj. EBITDA Margin* 15.2% 15.4% One of Expense* 2.2 0.0 Other Income 2.4
Slide 28: Standalone Balance Sheet
Standalone Balance Sheet EQUITY AND LIABILITIES (Rs. In Crores) Mar-19 Mar-18 ASSETS (Rs. In crores) Mar-19 Mar-18 Equity Non-current assets Equity Share capital 30.7 30.2 Property, plant and equipment 137.9 141.8 Other equity 245.9 203.5 Capital work-in-progress 10.5 0.3 Sub-total - Shareholders' f
Slide 29: Improvement in Working Capital
Improvement in Working Capital Receivables Days Inventory Days 110 79 79 75 FY18 FY19 FY18 FY19 Payable Days Working Capital Days 68 122 54 100 FY18 FY19 FY18 FY19 29
Slide 30: Consistent Growth in Business
Consistent Growth in Business (Rs in Crores) Total Revenue from operations EBITDA Margin 14.0% 11.9% 13.9% 17.5% 15.4% 15.3% +19% +17% 451.9 69.3 395.3 61.1 54.0 308.1 266.5 251.2 34.9 210.1 29.4 31.8 FY14 FY15 FY16 FY17 FY18 FY19 FY14 FY15 FY16 FY17 FY18 FY19* EBIT PAT 11.8% 10.6% 12.4% 15.8% 13.9%
Slide 31: Segmental Revenue Breakup
Segmental Revenue Breakup (Rs in Crores) Dyestuff Dye Intermediates 109.1 101.2 226.8 201.2 196.4 200.3 165.4 171.4 40.2 FY14 FY15 FY16 FY17 FY18 FY19 FY14 FY15 FY16 FY17 FY18 FY19 Acid Complex Fertilisers 90.9 16.3 70.1 57.6 10.3 10.2 48.2 48.7 7.7 8.7 8.9 31.0 FY14 FY15 FY16 FY17 FY18 FY19 FY14 FY
Slide 32: Key Financial Parameters
Key Financial Parameters (Rs in Crores) Net Debt ROE % 21.1% 16.3% 15.7% 15.4% 13.7% 14.4% 58 45 22 7 -8 -24 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18# Mar-19# Mar-14 Mar-15 Mar-16^ Mar-17^ Mar-18#^ Mar-19#^ Net Debt to Equity ROCE % 24.9% 23.5% 19.6% 18.3% 17.2% 18.0% 0.9 0.2 0.2 0.0 -0.1 0.0 Mar-14 Mar-1
Slide 33: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Shree Pushkar Chemicals & Fertilisers Ltd Strategic Growth Advisors Pvt. Ltd. CIN: L24100MH1993PLC071376 CIN: U74140MH2010PTC204285 Mr. S N Sengupta, Associate Director Ms. Neha Shroff / Mr. Shrikant Sangani sengupta@shr
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