Navin Fluorine International Limited · NSE:NAVINFLUOR
Navin Fluorine International — Q2 FY2021 Earnings Presentation
30 slides from Navin Fluorine International's earnings presentation, Oct 28, 2020
Slide 1: Cover letter to stock exchanges: Investor Presentation Q2 FY2020-21
October 28, 2020 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (East), Mumbai 400001, India. Mumbai 400051, India. Stock Code: 532504 Stock Code: NAVINFLUOR EQ Dear Sir / Ma’am, Sub.: Investor Presenta
Slide 2: Navin Fluorine International Limited Investor Presentation – Q2FY21
Navin Fluorine International Limited Investor Presentation – Q2FY21
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Navin Fluorine International Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe
Slide 4: YoY Highlights H1FY21 – Strong Performance
H1FY21 – Strong Performance High Value Business Operating Revenue Rs. 512 crores 332 253 +32% Operating EBITDA YoY Highlights H1FY20 H1FY21 Rs. 146 crores H1FY21 Margin at 28.4% H1FY21 Revenue Contribution 65% Operating PBT Contribution from Rs. 125 crores High Value Businesses Margin at 24.4% High
Slide 5: YoY Highlights Q2FY21 – Strong Performance
Q2FY21 – Strong Performance High Value Business Operating Revenue Rs. 308 crores 201 141 +42% Operating EBITDA YoY Highlights Q2FY20 Q2FY21 Rs. 93 crores Q2FY21 Margin at 30.4% Q2FY21 Revenue Contribution 65% Operating PBT Contribution from Rs. 83 crores High Value Businesses Margin at 27.0% High Va
Slide 6: Strong EBITDA Margins
Strong EBITDA Margins (Rs. Crs) High Value Business Legacy Business Total Revenue Total Revenue returning back to normal in Q2 +32% +1% -29% 332 253 506 512 253 180 Despite COVID-19 challenges achieved EBITDA Margin of 30.4% in Q2FY21 H1FY20 H1FY21 H1FY20 H1FY21 H1FY20 H1FY21 Strong momentum in High
Slide 7: Sustainable growth in High Value Business
Sustainable growth in High Value Business (Rs. Crs) Specialty Chemicals : Well balanced growth driven by Life Science and Crop Science segments 65% CRAMS : Strong customer traction augurs well for future Contribution from High Value Specialty Business Unit CRAMS Business Unit High Value Business Uni
Slide 8: Business Vertical - Specialty Chemicals
Business Vertical - Specialty Chemicals Revenues (Rs. Crs) 102 199 94 180 This business has shown sustained growth We will continue leveraging our R&D capabilities and deep Q2FY20 Q2FY21 H1FY20 H1FY21 fluorination expertise to partner with global companies in this vertical 44% 56% We are optimally u
Slide 9: Business Vertical - CRAMS
Business Vertical - CRAMS Revenues (Rs. Crs) 99 133 72 47 Strong quarterly sales Q2FY20 Q2FY21 H1FY20 H1FY21 During H1FY21 ramped up utilisation of cGMP-3 facility 0% The business is positioned for sustainable growth on the back H1FY21 of a strong enquiries and order flows from innovator global phar
Slide 10: Business Vertical - Inorganic Fluorides
Business Vertical - Inorganic Fluorides Revenues (Rs. Crs) 52 105 49 77 Performance has shown an upward trend compared to the last quarter Q2FY20 Q2FY21 H1FY20 H1FY21 End-user segments were operating at lower capacity and prices were also under pressure due to low demand 12% H1FY21 Made inroads in n
Slide 11: Business Vertical - Refrigerant Business
Business Vertical - Refrigerant Business Revenues (Rs. Crs) 70 148 58 103 Revenue was impacted due to major dip in Trade Market while exports were impacted due to softening of prices Q2FY20 Q2FY21 H1FY20 H1FY21 Non-emissive applications continue to show growth 53% Working on understanding the prospe
Slide 12: Capacity Expansion - High Performance Product (HPP)
Capacity Expansion - High Performance Product (HPP) Key Highlights Entered into a $410 million contract with a Global Company for manufacture and supply of a High-performance Product (HPP) in the fluorochemical space $410 Mn $61.5 Mn Project will be executed through wholly owned subsidiary Navin Flu
Slide 13: HPP Contract - Reinforcement of Trust
HPP Contract - Reinforcement of Trust Delivery on NFIL’s long term strategy with Developed new capabilities by venturing into important steps in portfolio transformation High Performance Product (HPP) Entered into seven-year contract of $410mn (i.e. approximately Rs. 2,800 crores) with a leading Glo
Slide 14: Business Strategy
N e PADMANABH MAFATLAL, GROUP BG Business Strategy How Navin Fluorine’s values have translated into business strengths....
Slide 15: Core Business Strategy
Core Business Strategy Presence into High- Increase share of our demand specialized product basket High Value Business (CRAMS & Specialty) which now contributes ~65% of the Topline Customer’s clear choice - Strong pillar of Partnership Innovation & Change Journey of growth - Moving into the new High
Slide 16: Long Term Direction: Clear Focus on Core Business
Long Term Direction Clear Focus on Core Business Piramal Pharma and Navin Fluorine Mutually Agree on Piramal increasing its stake to 100% in Convergence Chemicals Navin Fluorine International Limited Piramal Group Focus area Focus area Continuing to grow its anesthetics Expanding High Value Business
Slide 17: Strategic Capital Re-allocation – Fully exit CCPL
Strategic Capital Re-allocation – Fully exit CCPL Rs. 65.1 Crores received for 49% Perpetual license to use the stake in CCPL + technical know-how for Rs. 7.9 Crores for leasehold rights development and marketing of select of the GIDC land earmarked for CCPL products Raw Material supply agreement wi
Slide 18: Financial Performance
N e PADMANABH MAFATLAL, GROUP Financial Performance Responsible Care”
Slide 19: Standalone Profitability Statement
Standalone Profitability Statement Particulars (Rs. Crs.) Q2 FY21 Q2 FY20 Y-o-Y % Q1 FY21 Q-o-Q % H1 FY21 H1 FY20 Y-o-Y % Net Revenue from Operations 307.7 263.9 17% 204.7 50% 512.4 505.6 1% Raw Material 136.7 122.0 85.2 221.9 236.9 Employee Expenses 28.3 27.0 29.1 57.4 52.6 Other Expenses 49.3 47.3
Slide 20: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crs.) 30-Sep-20 31-Mar-20 EQUITY AND LIABILITIES (Rs. Crs.) 30-Sep-20 31-Mar-20 Non-current assets 743.6 840.1 EQUITY 1,493.2 1,388.9 Property, Plant and Equipment 357.5 359.1 Capital work-in-progress 48.2 38.9 Equity Share Capital 9.9 9.9 Right-of-use Assets 8.8
Slide 21: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (Rs in Crs) 30-Sep-20 30-Sep-19 (A) Cash flow from operating activities Profit before tax 169.6 127.5 Adjustments for noncash items 4.1 3.1 Operating profit before working capital changes 173.7 130.6 Working capital adjustments -75.6 -37.5 Cash flows generat
Slide 22: Other Income Built-up
Other Income Built-up Q2 FY21 (Rs. Crs) Q2 FY20 (Rs. Crs) 8.8 8.7 -0.2 -1.4 -2.5 6.1 -3.7 3.6 Reported One Off Gain MTM Gain Adjusted Reported One Off Gain MTM Gain Adjusted Other Income Other Income Other Other Income Income 21 * One-Off Gain is towards Sale of Investments
Slide 23: Consolidated Profitability Statement
Consolidated Profitability Statement Particulars (Rs. Crs.) Q2 FY21 Q2 FY20 Y-o-Y % Q1 FY21 Q-o-Q % H1FY21 H1FY20 Y-o-Y % Net Revenue from Operations 318.9 272.9 17% 214.9 48% 533.9 524.5 2% Raw Material 143.2 126.7 91.0 234.2 246.9 Employee Expenses 34.0 32.1 34.6 68.6 62.6 Other Expenses 51.0 46.1
Slide 24: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crs.) 30-Sep-20 31-Mar-20 EQUITY AND LIABILITIES (Rs. Crs.) 30-Sep-20 31-Mar-20 Non-current assets 726.7 844.9 Property, Plant and Equipment 362.2 364.2 EQUITY 1,521.7 1,412.2 Capital work-in-progress 61.5 38.9 Equity Share Capital 9.9 9.9 Right-of-use Assets 1
Slide 25: Consistent Dividend Performance
Consistent Dividend Performance Dividend as % of Face Value Robust Dividend Payout Special Dividend 550% ✓ Continuous Dividend over 10 years Final of 150% Interim + ✓ Special Dividend of 600% on FV of Rs. 10 in Special 150% Dividend FY12 of 75% 390% + 350% ✓ Special Divided of 75% on FV of Rs. 10 in
Slide 26: NFIL at glance
9888 PADMANABH Ni MAFATLAL GROUP CH) NFIL at glance Responsible Care”
Slide 27: NFIL at glance
NFIL at glance Manufacturing plants strategically located closer to major ports Strong Clientele base in India & abroad, including Global Innovators Largest Integrated Specialty Fluorochemical Company in India Over 50 years of expertise in Handling Fluorine Built “India’s only plant with high pressu
Slide 28: Our Capabilities
Our Capabilities Manufacturing Raw Material Sourcing In-house R&D Fluorination Capabilities • Chemical Complex at Surat • Backward integration for Raw • State-of-the-art R&D centre – • Pioneered Manufacturing spread over 135 acres, houses material through 25% JV Navin Research Innovation of Refriger
Slide 29: Our Delivery
Our Delivery Commenced Specialty Commenced CRAMS Inorganic Fluorides & Refrigerants are Chemicals in 2000 business in 2011 traditional business since 1967 Specialty Chemicals – Inorganic Fluorides – FY20 – Revenue % CRAMS – 17% Refrigerants – 25% 37% 20% Specialty Chemicals – Inorganic Fluorides – R
Slide 30: Thank You Note
Thank You Note For further information, please contact: Company : Investor Relations Advisors : Navin Fluorine International Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L24110MH1998PLC115499 CIN : U74140MH2010PTC204285 Mr. Ketan Sablok Ms. Payal Dave / Ms. Neha Shroff / Mr. Jigar Kavaiya Chief Fi
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