Rhi Magnesita India Limited · NSE:RHIM
Rhi Magnesita India — Q2 FY24 Earnings Presentation
13 slides from Rhi Magnesita India's earnings presentation, Nov 9, 2023
Slide 1: Exchange filing cover letter for conference call presentation
RHI MAGNESITA INDIA LTD. (Formerly Orient Refractories Ltd.) 301, 316-17, Tower B, EMAAR Digital Greens Golf Course Extension Road, Sector 61, Gurugram, Haryana-122011, INDIA T +91 124 4062930 E corporate.india@rhimagnesita.com www.rhimagnesitaindia.com Date: 9 November 2023 To, BSE Limited National
Slide 2: Investor Presentation, November 2023
Investor Presentation RHI Magnesita India Limited November 2023
Slide 3: Quarter Highlights
Quarter Highlights Robust YoY growth in top line driven by higher shipments Revenue supported by significant shipment increase Q2 FY24 Vs Q1 FY24 129 120 6% revenue growth driven through increased shipment @ 8% and drop in average realization per ton @ 1% due to change in mix 70 9,869 9,280 EBIT
Slide 4: Production (kt)
Production (kt) Rise in production volumes supported by recently acquired capacities 90% Production : Q1 FY24 +5% from 85kt to 90kt and 67% Q2 FY23 +144% from 37kt to 90kt 64% ‒ RHIM : Q1 FY24 : +3% @ 39kt and Vs Q2 FY23 : +5% +144% +5% ‒ JSP : (-11)% @ 7kt due to ERP implementation 90 85 ‒ RHIMIR
Slide 5: Profit and Loss Snapshot: Consolidated
Profit and Loss Snapshot : Consolidated Q2 FY24 Vs Q1 FY24 Revenue increase @ 6% driven through ‒ shipment growth @ 8% ‒ drop in average realization per ton @ 1% due to change in mix EBITDA @ 15.3% higher by 0.7% primarily due to ‒ Decrease in employee cost ‒ Offset by increase in material cost
Slide 6: Bridge – Q2 FY24 Vs Q1 FY24
Bridge – Q2 FY24 Vs Q1 FY24 Growth in shipments offsets lower realization due to change in product mix ₹ mn 697 9,869 -108 9,280 Average realization drop by Revenue Shipment growth @ 8% 1% due to change in mix €106m €8m -€1m €113m Q1 FY24 Volume Price Q2 FY24 283 1,507 1,356 -114 -18 EBITDA €15m €3m
Slide 7: Profit and Loss Snapshot: Consolidated
Profit and Loss Snapshot : Consolidated Q2 FY24 Vs Q2 FY23 Revenue increase @ 64% driven through ‒ shipment growth @ 83% ‒ decrease in average price per ton @ 10% due to change in sales mix (increasing share of industrial segment with RHIMIR) EBITDA @ 15.3% lower by 2.2% due to ‒ Increase in emp
Slide 8: Bridge – Q2 FY24 Vs Q2 FY23
Bridge – Q2 FY24 Vs Q2 FY23 Lower realization from changed product mix was offset by volume contribution from acquired capacities, leading to revenue growth ₹ mn 4,992 9,869 -1,126 6,004 Average realization Revenue decrease due to change Shipment growth @83% in mix €68m €57m -€13m €113m Q2 FY23 Volu
Slide 9: Working Capital
Working Capital Strategic focus on improving cash conversion cycle Inventories (₹ m) Inventory days Working capital (₹ m) 110 121 109 114 Cash conversion cycle 9,562 9,956 11,354 96 97 6,077 €69m €109m €114m €129m 85 87 FY22 FY 23 Jun-23 Sep-23 Receivables (₹ m)1 Receivables days 108 103 102 12,387
Slide 10: Debt including short term
Debt including short term Comfortable debt position following successful QIP paying majority acquisition debt ₹ mn €7m €7m €170m €57m -€5m -€4m €48m Mainly ECB loan €33m + Working Capital 14,927 5,003 4,239 -442 -322 601 590 2021 2022 Mar-23 Jun-23 Preferential Issue Internal Accruals Sep-23 & Other
Slide 11: Cashflow
Cashflow Optimal cash utilization towards acquisitions and debt repayment ₹ mn €41m €17m -€22m -€8m -€3m -€2m -€8m -€1m -€6m €0.1m €9m 1,507 3,605 -1,887 -696 -275 -150 Payment towards Purchase Consideration -733 -97 Hi-tech : ₹77m (€1m) 23 781 RHIM Seven : ₹618m (€7m) -516 Jun-23 EBITDA WC Purc
Slide 12: M&A Progress - RHIMIR
M&A Progress - RHIMIR Synergy from M&A reflecting in higher shipments and realization per ton Revenue supported by significant shipment increase 22% revenue growth Vs Q1 FY 24 @ ₹3,304m (€38m) 51 driven through 43 38 ‒ increased shipment @18% and ‒ increase in sales to steel segment resulting in 3
Slide 13: Disclaimer
Disclaimer Financial information contained herein, as well as other operational information, were not audited by independent auditors and may include forward-looking statements and reflects the current views and perspectives of the management on the evolution of macro-economic environment, condition