Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q2FY22 Earnings Presentation
34 slides from Ifgl Refractories's earnings presentation, Nov 15, 2021
Slide 1: Cover letter to stock exchanges
[O � REFRACTORIES LIMITED Head & Corporate Office 3, Netaji Subhas Road, Kolkata - 700 001, India Phone : +91 33 40106100, Fax : +91 33 22430886 E-mail : ifgl.ho@ifgl.in, Websites : www.ifglref.com 15th November, 2021 National Stock Exchange of India Ltd BSE Limited 'Exchange Plaza', C-1, Block - G
Slide 2: IFGL Refractories Investor Presentation Q2FY22
COMMITTED TO CLEAN METAL IFGL Refractories Limited Investor Presentation – Q2FY22 November 2021
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited, solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or b
Slide 4: Our Performance
Our Performance
Slide 5: Q2FY22 Performance Snapshot
Q2FY22 Performance Snapshot Strong Standalone & Consolidated Performance Standalone Rs. 201.5 Crores Consolidated Rs. 313.7 Crores Total Income +20% YoY Total Income +26% YoY Standalone Rs. 34.4 Crores Consolidated Rs. 40.7 Crores EBITDA -6% YoY EBITDA -1% YoY Standalone Rs. 16.6 Crores Consolidated
Slide 6: H1FY22 Performance Snapshot
H1FY22 Performance Snapshot Strong Standalone & Consolidated Performance Standalone Rs. 364.7 Crores Consolidated Rs. 591.6 Crores Total Income +23% YoY Total Income +30% YoY Standalone Rs. 62.1 Crores Consolidated Rs. 76.4 Crores EBITDA -1% YoY EBITDA +13% YoY Standalone Rs. 30.0 Crores Consolidate
Slide 7: Q2FY22 Standalone Financial Highlights
Q2FY22 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +20% -6% 201.5 36.4 21.7% 34.4 167.6 17.1% Q2FY21 Q2FY22 Q2FY21 Q2FY22 Q2FY21 Q2FY22 Profit After Tax [Rs. Crs.] PAT margin [%] -13% 11.4% 19.2 16.6 8.3% Q2FY21 Q2FY22 Q2FY21 Q2FY22 6
Slide 8: H1FY22 Standalone Financial Highlights
H1FY22 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +23% -1% 364.7 62.6 21.1% 62.1 297.5 17.0% H1FY21 H1FY22 H1FY21 H1FY22 H1FY21 H1FY22 Profit After Tax [Rs. Crs.] PAT margin [%] -3% 10.5% 31.1 30.0 8.2% H1FY21 H1FY22 H1FY21 H1FY22 7
Slide 9: Q2 & H1FY22 Standalone Profit & Loss
Q2 & H1FY22 Standalone Profit & Loss Profit & Loss [Rs. Crs.] Q2FY22 Q2FY21 Y-o-Y% Q1FY22 Q-o-Q% H1FY22 H1FY21 Y-o-Y% Total Income 201.5 167.6 20% 163.2 24% 364.7 297.5 23% Raw Material 97.4 78.5 79.5 176.9 139.3 Employee Expenses 15.7 13.1 13.8 29.4 24.8 Other Expenses 54.2 39.5 42.2 96.4 70.7 EBIT
Slide 10: Standalone Balance Sheet
Standalone Balance Sheet Assets (in Rs. Crs.) Sep-21 Mar-21 Equity & Liabilities (in Rs. Crs ) Sep-21 Mar-21 Non current Assets 333.8 318.7 Equity 553.2 559.1 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 94.8 77.6 Other Equity 517.2 523.1 Right to Use Asset 15.4 15.6 Capital WIP 1
Slide 11: Q2FY22 Consolidated Financial Highlights
Q2FY22 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +26% -1% 313.7 41.3 16.6% 40.7 248.4 13.0% Q2FY21 Q2FY22 Q2FY21 Q2FY22 Q2FY21 Q2FY22 Profit After Tax [Rs. Crs.] PAT margin [%] -3% 8.3% 20.6 20.0 6.4% Q2FY21 Q2FY22 Q2FY21 Q2FY22 10
Slide 12: H1FY22 Consolidated Financial Highlights
H1FY22 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +30% +13% 591.6 76.4 14.9% 67.8 12.9% 454.8 H1FY21 H1FY22 H1FY21 H1FY22 H1FY21 H1FY22 Profit After Tax [Rs. Crs.] PAT margin [%] +23% 6.8% 6.4% 37.9 30.8 H1FY21 H1FY22 H1FY21 H1FY22 11
Slide 13: Q2 & H1FY22 Consolidated Profit & Loss
Q2 & H1FY22 Consolidated Profit & Loss Profit & Loss [Rs. Crs.] Q2FY22 Q2 FY21 Y-o-Y% Q1FY22 Q-o-Q% H1FY22 H1FY21 Y-o-Y% Total Income 313.7 248.4 26% 277.8 13% 591.6 454.8 30% Raw Material 150.4 109.5 131.7 282.1 205.4 Employee Expenses 44.6 37.9 42.3 86.9 72.7 Other Expenses 78.1 59.7 68.1 146.2 10
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs.) Sep-21 Mar-21 Equity & Liabilities (in Rs. Crs ) Sep-21 Mar-21 Non current Assets 474.6 456.4 Equity 892.6 890.5 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 165.6 147.6 Other Equity 856.5 854.5 Right to Use Asset 19.4 20.3 Capital W
Slide 15: Subsidiaries Performance
Subsidiaries Performance EI Ceramics [$ mn] Monocon Group [GBP mn] 9.09 13.90 6.65 12.85 0.65 0.65 0.29 0.11 0.38 0.37 0.43 0.21 H1FY21 H1FY22 Revenue H1FY21 H1FY22 EBITDA PAT Hofmann Ceramic [Euro mn] 4.08 Overseas subsidiaries has witnessed sustainable demand improvement. All our 2.73 subsidiaries
Slide 16: Ongoing Capex to boost performance
Ongoing Capex to boost performance ➢ ~Rs. 10 Cr : For Normal Capex & debottlenecking by 1 IFGL Odisha Plant H1/FY23 2 IFGL Kandla Plant ➢ Capex of Rs. 10 Cr by H2FY22 ➢ 10-acre freehold Land acquired for manufacturing of New products including Monolithics & Precast Shapes ➢ Phase 1 (project cost of
Slide 17: Consistently performing over the years
Consistently performing over the years… Particulars [Rs. Crs.] FY17 FY18 FY19 FY20 FY21 Total Income 769.5 839.7 955.4 928.3 1,042.5 Materials consumed 362.0 421.4 477.0 459.1 474.0 Employee Expenses 120.9 126.7 146.2 150.5 151.8 Other Expenses 183.5 181.3 218.5 216.2 240.8 EBITDA 103.1 110.3 113.8
Slide 18: …to create sustainable value for Shareholders…
…to create sustainable value for Shareholders… Total Debt (Rs. Crs.) Cash & Equivalents (Rs. Crs.) Net Debt (Rs. Crs.) FY18 FY19 FY20 FY21 H1FY22 FY18 FY19 FY20 FY21 H1FY22 FY18 FY19 FY20 FY21 H1FY22 112.5 321.9 17.7 89.4 273.0 69.6 204.5 52.0 51.6 134.2 -44.8 94.8 -152.4 -203.3 -270.3 Net Debt : Eq
Slide 19: …with consistent Payout
…with consistent Payout 100.0% 25.0% 25.0% 20.0% 20.0% 20.0% FY16 FY17 FY18 FY19 FY20 FY21 Particulars (Rs.) FY16 FY17 FY18 FY19 FY20 FY21 Consolidated Book Value Per Share 111.7 189.9 208.7 220.5 224.5 247.1 Consolidated Earning Per Share 12.1 13.9 13.1 14.0 11.1* 23.8* Dividend Per Share 2.00 2.00
Slide 20: Industry Overview
Industry Overview
Slide 21: Global Steel Demand Outlook
Global Steel Demand Outlook In MT World World (Ex China) Developing economies (Ex China) +3.4% +8.1% +8.2% 1,775 1,855 1,896 870 911 385 402 780 343 2020 2021F 2022F 2020 2021F 2022F 2020 2021F 2022F ➢ Global outlook: ▪ As per WSA, the current forecast assumes thatsteel demand will grow by 4.5% in 2
Slide 22: Forecasted Global Short-Term Steel Demand
Forecasted Global Short-Term Steel Demand In MT 2020 2021F 2022F +3.4% 1,896 1,855 1,775 +1.5% 1,330 1,345 1,305 +9.0% +9.4% 167 137 141 159 114 130 +11.6% +11.7% +8.9% +3.4% +3.1% 47 48 51 58 60 62 39 48 48 36 42 45 35 39 42 USMCA Central & EU Other Europe Africa Middle East CIS Asia & Oceania Worl
Slide 23: Top Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2020 2021F 2022F -0.5% 995.0 985.1 985.1 +11.7% +10.4% 104.3 111.4 97.5 89.3 92.3 +6.1% +5.2% 80.0 52.6 58.0 59.2 53.4 54.2 49.0 China India United States Japan South Korea Source: World Steel Association ➢ India outlook: ▪ India’s economy got another shock from
Slide 24: National Infrastructure Pipeline (NIP) Project
National Infrastructure Pipeline (NIP) Project National Infrastructure Pipeline Project (NIP) Government unveiled the multimillion-dollar National Infrastructure Pipeline (NIP), with projects spread across 18 Investment allocation under NIP states over the next five years $5 Trillion Economy Others,
Slide 25: Domestic Steel Industry on a strong footing in the long term
Domestic Steel Industry on a strong footing in the long term India is now the world's second largest steel producer, surpassing Japan 1 Target of 300 MT* of production capacity by 2 2030 (National Steel Policy, 2017) Strong recovery in all sectors especially in steel consuming sectors of Real Estate
Slide 26: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Anti-Dumping Duty policy promotes fair trade and reduces the ill effects of dumping, on the Domestic Industry Infrastructure Huge export development and opportunity for India demand from the due to its low cost various sectors advantage Active local investment
Slide 27: About Refractories
About Refractories What are Refractories Refractories are material having high melting points, with properties that make them suitable to act as heat- resisting barriers between high and low temperature zones. Refractories are inorganic nonmetallic material which can withstand high temperature witho
Slide 28: About Us
27 About Us
Slide 29: A Global MNC…
A Global MNC… Monocon , UK Hofmann Ceramic, Mono Ceramics Inc Germany Michigan, US Tianjin Monocon Tianjin, China EI Ceramics, Cincinnati, US IFGL, Kandla SEZ 28
Slide 30: Corporate Structure
Corporate Structure… IFGL Refractories Limited 3.604 Cr Equity Shares with a Face Value of Rs. 10 each 100% IFGL Worldwide Holdings Limited Plants at Kalunga, Odisha, India + Plant at Kandla SEZ, Gujarat, India 100% 100% 100% + Plant at Visakhapatnam, Andhra Hofmann Monocon Group Ceramic EI Ceramics
Slide 31: …with proven management…
…with proven management… Mr. S.K. Bajoria Mr. James McIntosh Mr. Kamal Sarda Chairman Managing Director Director & Chief Executive Officer (wef 1st Sep, 2021) • Promoter of S K Bajoria Group based at • Fellow Member of ICAI and a law graduate with Kolkata engaged in diversified business • Holder of
Slide 32: …serving the specialized refractory segment…
…serving the specialized refractory segment… Isostatic Refractories Slide Gate Refractories & Systems Tube Changer Refractories & System Purging System & Refractories Cast Products & Zirconia Nozzles Foundry Ceramics 31
Slide 33: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry Committed to Clean Metal
Slide 34: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mr. Rajesh Agarwal Mr. Shogun Jain / Mr. Shrenik Shah rajesh.agarwal@ifgl.in shogun.jain@sgapl.net / shr