Sigachi Industries Limited · NSE:SIGACHI
Sigachi Industries — Q4 FY2024 Earnings Presentation
30 slides from Sigachi Industries's earnings presentation, May 27, 2024
Slide 1: Sigachi Industries Limited – Investor Presentation Intimation Letter
SIGACHI INDUSTRIES LIMITED CIN: U24110TG1989PLC009497 AN EXCiPACT GMP, ISO 9001:2015 &FSSC 22000 CERTIFIED COMPANY To, Date: 27-05-2024 The Manager The Manager, BSE Limited National Stock Exchange of India Limited, P. J. Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex, Mumbai-400001 Bandra
Slide 2: Investor Presentation - Q4 FY24
SIGACHI INDUSTRIES LTD Investor Presentation - Q4 FY24
Slide 3: Agenda
Agenda Operational & Financial 01 Company Overview 03 Highlights 02 Strategic Positioning 04 Annexure 2
Slide 4: Message from MD & CEO
At Sigachi, we're not just about delivering products; we're about delivering excellence. Our enduring partnerships with industry giants stand as monuments to the unparalleled quality we consistently provide. Our sights are set on becoming an undisputed powerhouse across the entire pharmaceutical eco
Slide 5: Company Overview
SIGACHI INDUSTRIES LTD Company Overview
Slide 6: Top 5 Global Manufacturer of Pre-Formulated Excipient
Top 5 Global Manufacturer of Pre-Formulated Excipient 5 Cutting Edge 21000 MTPA Capacity 3 Decades of 60+ Widely Used Manufacturing Facilities 3 Strategic Locations Expertise excipients including expansion at Dahej and Jhagadia. 337+ Customers 5 Years Revenue 5 Years EBITDA 5 Years PAT Across 52 Cou
Slide 7: Business Overview
Business Overview Total Revenue Break (%) (FY24) Allied Trades 3% API 12% Operations and Management 9% 76% MCC 6
Slide 8: Sigachi's De-Risked Business Model
Sigachi’s De-Risked Business Model Leading Trusted Name Present in the Cutting-edge Manufacturer of Across All entire Pharma Manufacturing MCC in India Operational Ecosystem Capabilities Business Segments 7
Slide 9: Strategic Positioning
SIGACHI INDUSTRIES LTD Strategic Positioning
Slide 10: Present Across the Pharma Ecosystem
Present Across the Pharma Ecosystem Moving Up the Value chain by Introducing Value Added and Margin Accretive Products in the Product Basket MCC API CCS Core Business Vertical Expanded Product Offering Complementary to Existing Business o Largest Manufacturer in India o Acquired 80% stake in Trimax
Slide 11: One of the Largest Manufacturer of MCC in the World
One of the Largest Manufacturer of MCC in the World Maximizing Capacity: Efficient Utilization The capacity (7,200 MTPA) added in Q4FY24 resulted in an increase to total capacity of 21,000 MTPA 8,400 MTPA 6,900 MTPA o Leading MCC Manufacturer in India 97.30% 93.47% o Operating at a combined capacity
Slide 12: Core Business More than Doubled in 5 Years
Core Business More than Doubled in 5 Years MCC Revenue Grew 2.6x Revenue (Rs. Mn) MCC Revenue CAGR : 21% (FY19-FY24) 14,740 12,655 12,793 11,446 9,159 8,876 3,015 2,603 2,266 1,773 1,173 1,265 FY19 FY20 FY21 FY22 FY23 FY24 Revenue (Rs. Mn) Volume (MTPA) 11
Slide 13: Robust Growth in O&M Business
Robust Growth in O&M Business Revenue Tripled O&M Revenue (Rs. Mn) Trusted Partners o Gujarat Alkalies o Aditya Birla Group o ONGC Petro Additions o Lords Chloro Alkali Limited 351 265 Asset Light Model 90 110 122 134 o Zero Capex Requirement o Contracts Win to Boost FY19 FY20 FY21 FY22 FY23 FY24 Ro
Slide 14: Research & Product Excellence
Research & Product Excellence Quality Assurance through Cutting-edge Facilities, Expert R&D, Accreditation, and Certification Hyderabad Plant Jhagadia Plant Dahej SEZ Plant R&D Division Manufacturing Units Expansion Plans o Three units in Hyderabad, Telangana (Unit I), Jhagadia, Gujarat o Expanding
Slide 15: Achieving 3x Growth in Revenue and PAT
Achieving 3x Growth in Revenue and PAT Revenue (Rs. Mn) EBITDA (Rs. Mn) PATPAT (Rs. Mn) 16.0% 21.2% 15.7% 20.1% 20.1% 19.4% 14.7% 19.2% 14.6% 14.4% 14.3% 4,106 3,087 17.8% 766.5 400.4 435.4 2,529 530.4 587.3 1,960 302.6 387.9 572.0 1,439 190.1 203.2 1,329 259.6 247.6 FY19 FY20 FY21 FY22 FY23 FY24 FY
Slide 16: Sustainable Margins
Sustainable Margins Sustainable Margins Returns to Stake holders picking up.. 21.2% 20.1% 20.1% 52.1% 19.4% 19.2% 17.8% 20% 37.4% 19% 19% 18.9% 34.1% 42.4% 17% 31.5% 32.1% 22.2% 16% 19.7% 15.7% 16.0% 13.64% 14.7% 14.6% 14.4% 14.34% 17.6% 16.2% 16.41% FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22
Slide 17: Low Debt: Maximizing Financial Stability
Low Debt: Maximizing Financial Stability Gross Block (Rs.Mn) Net Debt to Equity and Interest Coverage Ratio 45.31 31.04 2,157 0.46 0.28 13.68 1,151 0.03 0.13 682.5 0.02 416.5 503.3 366.1 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 10.56 7.52 9.82 -0.15 Net Debt to Equity Interest Cov
Slide 18: Cash Flows
Cash Flows To Drive Future Growth Cash Flows from Operation (Rs.Mn) Capex (Rs Mn) 1,007 296 290 852 145 121 129 243 59 93 FY19 FY20 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 17
Slide 19: Operational and Financial Highlights Q4 FY24
SIGACHI INDUSTRIES LTD Operational and Financial Highlights Q4 FY24
Slide 20: Operational Highlights
Operational Highlights • The overall revenue for the year ended experienced a robust YoY growth of 33%, escalating from INR 3,087 Million to INR 4,106 Million. • The quantity of MCC demonstrated a notable YoY growth of 16.47%, increasing from 12,655 MT to 14,740 MT in FY 24 compared to FY23. • Reven
Slide 21: Financial Highlights
Financial Highlights Revenue from Operations (Rs. Mn) EBITDA (Rs. Mn) & EBITDA Margin % PAT (Rs. Mn) & PAT Margin % 19.4% 19.20% 14.4% 14.34% 3,989 572 766 436 3,020 587 FY23 FY24 FY23 FY24 FY23 FY24 16.8% 15.65% 10.1% 14.60% 152 1,041 163 724 122 73 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 20
Slide 22: Income Statement Q4FY24
Income Statement Q4FY24 Particulars (Rs. Mn) Q4FY24 Q4FY23 YoY Q3FY24 QoQ Revenue from Operations 1,041 724 43.78% 1,109 (6.13)% Total Expenses 878 602 45.84% 884 (0.67)% EBITDA 163 122 33.60% 226 (27.87)% EBITDA Margin 15.65% 16.81% (116)Bps 20.36% (471)Bps Depreciation and Amortization 35 20 28 Fi
Slide 23: Income Statement FY24
Income Statement FY24 Particulars (Rs. Mn) FY24 FY23 YoY Revenue from Operations 3,989 3,020 32.08% Total Expenses 3,223 2,433 32.47% EBITDA 766 587 30.49% EBITDA Margin 19.20% 19.45% (25)Bps Depreciation and Amortization 108 66 Finance Cost 78 43 Other Income 117 67 PBT 697 545 27.88% PBT Margin 17
Slide 24: Annexure
SIGACHI INDUSTRIES LTD Annexure
Slide 25: Historical Income Statement
Historical Income Statement Particulars (Rs. Mn) FY21 FY22 FY23 FY24 Revenue from Operations 1,928 2,503 3,020 3,989 Total Expenses 1,540 1,972 2,433 3,223 EBITDA 388 531 587 766 EBITDA Margin 20.12% 21.21% 19.43% 19.20% Depreciation and Amortisation 23 29 66 108 Finance costs 13 12 43 78 Other Inco
Slide 26: Historical Balance Sheet
Historical Balance Sheet Particulars (Rs. Mn) FY21 FY22 FY23 FY24 NON-CURRENT ASSETS 463 1,069 1,964 3,809 a) Property, plant and equipment 376 527 960 1,711 b) Capital work-in-progress 37 97 349 966 c) Intangible assets 3 7 7 14 d) Goodwill - - - 547 e) Right of Use Assets - - 257 277 f) Financial
Slide 27: Historical Balance Sheet
Historical Balance Sheet Particulars (Rs. Mn) FY21 FY22 FY23 FY24 EQUITY 942 2,277 2,683 4,410 Equity Share Capital 77 307 307 328 Other Equity 865 1,970 2,376 3,968 Equity attributable to the owners of the company 942 2,277 2,683 4,296 Minority Interest - - - 114 NON-CURRENT LIABILITIES 70 76 308 6
Slide 28: Key Milestones
Key Milestones 2009:Setting up of 100 % export oriented unit (“EOU”) for manufacturing MCC in the SEZ at Dahej, Gujarat. 1998:Commenced its export operations 2014 :Merger of Sigachi 2023:Acquired Trimax by exporting its Cellulose Private Limited and Sigachi Biosciences Pvt Ltd to expand product Plas
Slide 29: Strong Leadership
Strong Leadership Mr. R P Sinha Mr. Chidambarnathan Mr. Amit Raj Sinha Mr. O Subbarami Reddy Founder, Chairperson, Shanmuganathan MD & CEO Chief Financial Officer Whole-Time Director Co-Founder, Whole-Time Director o Holds PG Diploma in business o He has an MBA from Indian o He is a qualified Charte
Slide 30: Thank You
Go India Advisors – IR Firm Ms. Priya Sen Ms. Deepika Sharma Ms. Sheetal Khanduja priya@goindiaadvisors.com deepika@goindiaadvisors.com sheetal@goindiaadvisors.com M : +91 8334841047 M:+91 8451029510 M: +91 9769364166 Thank You