Balkrishna Industries Limited · NSE:BALKRISIND
Balkrishna Industries — Q2 FY16 Earnings Presentation
20 slides from Balkrishna Industries's earnings presentation, November 2015
Slide 1: Results Presentation November 2015
Results Presentation November 2015
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Balkrishna Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 3: Performance Highlights – Q2FY16
Performance Highlights – Q2FY16 135 Cr 135 Cr 135 Cr Rs.796 Cr -14% YoY 34,333 MT -8% YoY Rs. 248 Cr +20% YoY Operating Profit Operating Profit Operating Profit Revenue* Sales Volume EBITDA 135 Cr 135 Cr 135 Cr 31.2% Rs.125 Cr +39% YoY Rs.271 Cr 30th Sep 880bps YoY Operating Profit Operating Profit
Slide 4: Performance Highlights – H1FY16
Performance Highlights – H1FY16 135 Cr 135 Cr 135 Cr Rs.1,666 Cr -12% YoY 71,758 MT -6% YoY Rs.494 Cr +11% YoY Operating Profit Operating Profit Operating Profit Revenue* Sales Volume EBITDA 135 Cr 135 Cr 135 Cr 29.6% 600bps YoY Rs.277 Cr +35% YoY Rs.271 Cr Sept’15 Operating Profit Operating Profit
Slide 5: Key Highlights
Key Highlights Particulars Q2FY16 Q2FY15 H1FY16 H1FY15 FY15 (Rs. Cr) Revenue* 796 927 1,666 1,887 3,893 EBITDA 248 207 494 446 1,004 EBITDA % 31.2% 22.4% 29.6% 23.6% 25.8% Normalized PBT # 170 133 342 303 721 Normalized PBT % 21.4% 14.3% 20.5% 16.1% 18.5% PAT 125 90 277 206 498 Volume (MT) 34,333 37
Slide 6: Financial Snapshot Highlights – H1FY16
Financial Snapshot Highlights – H1FY16 -12% +11% 1,887 1,666 494 Revenue (Rs. Cr.)* 446 EBITDA (Rs. Cr.) H1FY15 H1FY16 H1FY15 H1FY16 +13% +35% 342 277 303 Normalized PBT Profit After Tax 206 (Rs. Cr.)# (Rs. Cr.) H1FY15 H1FY16 H1FY15 H1FY16 •Includes other operating income + Crystallised Exchange (Lo
Slide 7: Bhuj Plant – Capacity Ready
Bhuj Plant – Capacity Ready 140,000 MT p.a. Proximity to Port – Achievable Capacity Lower Freight Cost With Bhuj Plant, BKT can Double Captive Power Better Product Mix Global Market Consumption of Share in 3-4 20MW Co-Gen Plant years time Opportunity to cater Significant to larger OTR Operating Leve
Slide 8: Bhuj – Game Changer
Bhuj – Game Changer At 20-25% Capacity Utilization, Bhuj Plant will be breakeven at EBITDA Level 8
Slide 9: Cash Holdings
Net Long Term Debt to Equity at 0.24x 50 1,695 In Rs. Cr -21 Long Term Debt -340 40 1,424 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Current Long Term Debt 203 112 807 Cash Holdings 189 483 -180 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Current Cash Holdings Net Long Term Debt to Equity improved from 0.58x in Sept
Slide 10: Sales Performance
Sales Performance In MT +8.43% 154,156 142,810 138,339 133,039 111,543 71,758 FY11 FY12 FY13 FY14 FY15 H1FY16 Achieved sustainable sales growth despite challenging Global environment 10
Slide 11: Geographical Performance
Geographical Performance Geographical Sales – H1FY16 53.0% 15.2% 16.0% 15.7% Europe Americas RoW* India * RoW – Rest of the World includes Middle East, Asia (excl India), Africa, Australia & New Zealand 11
Slide 12: Segmental Performance
Segmental Performance Segmental Sales – H1FY16 Others 4% OTR 34% 62% Agriculture 12
Slide 13: Channel wise Performance
Channel wise Performance Sales Channel – H1FY16 Others 4% OEM 22% 74% Replacement 13
Slide 14: Financial Highlights
GROWING TOGETHER Financial Highlights 14
Slide 15: Financial Highlights – H1FY16
Financial Highlights – H1FY16 Particulars in Rs.Crs Q2 FY16 Q2 FY15 YoY % H1 FY16 H1 FY15 YoY% FY15 34,333 37,281 -8% 71,758 76,483 -6% 1,54,156 Sales (MT) Net Sales 778 875 1599 1822 3,606 Other Operating Income 9 6 13 19 33 Crystallised Exchange (Loss)/Gain 9 46 53 47 253 related to Sales 796 927
Slide 16: Balance-Sheet as on 30th September, 2015
Balance-Sheet as on 30th September, 2015 Rs. Crs. Sep-15 Mar-15 Rs. Crs. Sep-15 Mar-15 Shareholder’s Fund 2,568 2,292 Non-current assets 3,283 3,275 Share capital 19 19 Fixed assets 3,127 3,049 Reserves & Surplus 2,549 2,273 Long-term loans and advances 148 168 Non-current liabilities 1,041 1,549 No
Slide 17: Roadmap for future growth
KT) GROWING TOGETHER Roadmap for future growth 17
Slide 18: Roadmap for future growth
Roadmap for future growth Increase Utilization Ramp up sales from Bhuj Plant to reach 100% utilization by 2019 Utilization Expand OEM Base Increase our exposure to OEM thereby creating brand OEM Base value and pull factor in the Replacement Market Penetrate Geographies Focus energies towards Emergin
Slide 19: Applications of our Tires
Applications of our Tires Agriculture Tires Cotton Pick Harvester Tractor Vineyard Harvester Pivot Irrigator Industrial Tires Loader Regular Dumper Trailer OTR Tires Load Haul Dump Underground Mining Container Handler 19
Slide 20: For further information, please contact:
For further information, please contact: Company : Investor Relations Advisors : Balkrishna Industries Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L99999MH1961PLC012185 CIN - U74140MH2010PTC204285 Mr. B K Bansal, Director - Finance Mr. Shogun Jain / Ms. Sanjita Ghosh bkbansal@bkt-tires.com jshogu
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