Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q2 FY20 Earnings Presentation
26 slides from Dcm Shriram's earnings presentation, Oct 24, 2019
Slide 1: DCM Shriram Ltd. Q2 & H1 FY20 - Results Presentation
DCM Shriram Ltd. Q2 & H1 FY20 - Results Presentation October 24, 2019 1
Slide 2: Safe Harbour
Safe Harbour Certain statements in this document may be forward-looking. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results t
Slide 3: Table of Content
Table of Content Title Slide No. Q2 FY20 Key Highlights 4 Returns & Leverage 5 Financial Snapshot 6 Segment Performance 7 H1 FY20 Key Highlights 8 Financial Snapshot 9 Segment Performance 10 Management’s Message 11 Segmental Details Chloro-Vinyl Businesses 13-17 Sugar 18-19 Agri Input Businesses 20-
Slide 4: Q2 FY20 - Key Highlights
Q2 FY20 - Key Highlights 1. Net Revenues up 3% YoY at Rs 1753 crores: i. Chemicals revenues up 2% YoY at Rs 427 crores. Caustic volumes up 25% YoY driven by new capacities additions. ECU prices down 20% YoY. ii. Fenesta revenues up 20% YoY at Rs 119 crores driven by both retail and projects segments
Slide 5: Q2 FY20 - Returns & Leverage
Q2 FY20 - Returns & Leverage PBDIT to Net Sales Net Debt/ EBITDA 1.00 18.7% 18.4% 0.87 20.0% 0.80 0.70 15.0% 13.9% 0.60 10.0% 0.42 0.40 5.0% 0.20 0.0% - FY19 Q2 FY19 Q2 FY20 FY19 Q2 FY19 Q2 FY20 ROCE Capital Employed (excl. CWIP) 35.0% 6,000 5,335 29.9% 5,010 30.0% 5,000 24.4% 24.7% 25.0% 3,857 4,00
Slide 6: Q2 FY20 - Financial Snapshot
Q2 FY20 - Financial Snapshot Revenue (Net) PBDIT Depreciation 1,700 1,753 313 53 243 38 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Finance Cost PBIT PAT 41 42 276 190 169 119 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Note: All figures in Rs. crores Net revenue includes operating income DC
Slide 7: Q2 FY20 - Segment Performance
Q2 FY20 - Segment Performance Rs crores Revenues PBIT PBIT Margins % YoY % YoY % Segments Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Q2 FY19 Q2 FY20 Change Change Chemicals 416.9 426.8 2.4 182.9 139.1 (23.9) 43.9 32.6 Plastics 136.3 136.6 0.2 13.0 33.4 157.7 9.5 24.4 Sugar 478.9 439.2 (8.3) 87.4 26.8 (69.3) 18
Slide 8: H1 FY20 - Key Highlights
H1 FY20 - Key Highlights 1. Net Revenues down 3% YoY at Rs 3,655 crores: i. Chemicals revenues up 10% YoY at Rs 979 crores driven by volumes gain of 23% YoY consequent to new capacities additions. ECU prices down 10% YoY. ii. Overall Sugar revenues down 16% YoY at Rs 921 crores due to lower sugar an
Slide 9: H1 FY20 - Financial Snapshot
H1 FY20 - Financial Snapshot Revenue (Net) PBDIT Depreciation 3,768 3,655 661 617 103 74 H1 FY19 H1 FY20 H1 FY19 H1 FY20 H1 FY19 H1 FY20 Finance Cost PBIT PAT 77 79 587 514 387 340 H1 FY19 H1 FY20 H1 FY19 H1 FY20 H1 FY19 H1 FY20 Note: All figures in Rs. crores Net revenue includes operating income D
Slide 10: H1 FY20 - Segment Performance
H1 FY20 - Segment Performance Rs crores Revenues PBIT PBIT Margins % YoY % YoY % Segments H1 FY19 H1 FY20 H1 FY19 H1 FY20 H1 FY19 H1 FY20 Change Change Chemicals 885.9 978.5 10.5 431.0 389.6 (9.6) 48.7 39.8 Plastics 280.2 276.5 (1.3) 39.7 49.6 25.0 14.2 18.0 Sugar 1,097.0 921.0 (16.0) 84.6 99.4 17.5
Slide 11: Management's Message
Management’s Message Commenting on the performance for the quarter and half year ending September 2019, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: “We have reported satisfactory performance during the
Slide 12: Segmental Details
Segmental Details • Chemicals (1,845 TPD) Chloro-Vinyl • PVC Resins (70,000 TPA) Businesses • Calcium carbide (112,000 TPA) • Agri- Businesses o Sugar (38,000 TCD) o Co-Gen (147 MW) Agri o Distillery (150 KLD) Businesses o Shriram Farm Solutions o Bioseeds o Fertilizers (379,500 TPA) • Fenesta Build
Slide 13: Chloro Vinyl Business
Chloro Vinyl Business Revenues (Rs. PBIT Cap. Employed Particulars Cr.) (Rs. Cr.) (Rs. Cr.) Q2 FY20 563.5 172.5 1,254.8 Q2 FY19 553.2 195.8 1,035.7 % Shift 1.9 (11.9) 21.2 H1 FY20 1,255.0 439.3 1,254.8 H1 FY19 1,166.1 470.7 1,035.7 % Shift 7.6 (6.7) 21.2 The Chloro-Vinyl business of the Company has
Slide 14: Chemicals
Chemicals Operational Financial Sales Realisations Revenues PBIT Particulars (MT) (Rs./MT) (Rs Cr.) (Rs. Cr.) Q2 FY20 135,300 26,748 426.8 139.1 Q2 FY19 108,362 33,330 416.9 182.9 % Shift 24.9 (19.7) 2.4 (23.9) H1 FY20 271,658 30,985 978.5 389.6 H1 FY19 220,801 34,565 885.9 431.0 % Shift 23.0 (10.4)
Slide 15: Chemicals
Chemicals Net Revenues up 2% YoY at Rs 427 crores. o Volumes up 25% YoY driven by new capacity commissioned at Kota plant (168 TPD) during Oct’18 and at 332 TPD at Bharuch in April’19. o ECU prices down 20% YoY (down 24% QoQ) due to softer Caustic (Liquid) prices and Chlorine prices negative durin
Slide 16: Plastics
Plastics Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBIT Particulars Realisations Realisations (MT) (MT) (Rs Cr.) (Rs. Cr.) (Rs./MT) (Rs./MT) Q2 FY20 13,958 74,586 4,959 56,413 136.6 33.4 Q2 FY19 12,795 76,692 6,712 52,443 136.3 13.0 % Shift 9.1 (2.7) (26.1) 7.6 0.2 1
Slide 17: Plastics
Plastics Import PVC and DCM PVC Prices 80,000 1,050 78,000 76,534 1,000 76,200 77,943 1,000 76,000 75,967 76,844 75,348 73,918 74,000 73,019 972 74,863 950 956 953 71,122 72,000 70,876 USD 948 INR 924 70,000 900 900 903 898 900 68,000 869 850 66,000 DCM Realizations PVC (Rs / MT) (LHS) PVC Import Pr
Slide 18: Sugar
Sugar Operational Financial Sales (Volume) Sugar Sugar Cap. Sugar Realizations Revenues PBIT Particulars Production Power Distillery (Domestic) (Rs. Cr.) Employed (Rs. Cr.) (Lac Qtls) (Domestic) (Lac Units) (Lac Ltrs) (Rs. Cr.) (Lac Qtls) (Rs/ Qtl) Q2 FY20 - 11.4 10.0 132.0 3,343 439.2 26.8 1,747.3
Slide 19: Sugar Segment
Sugar Segment Overall sugar revenues down 8% YoY at Rs 439 crores due to lower volumes of sugar sale (due to release mechanism) and lower distillery sales volumes. Overall segment PBIT for the quarter down 69% YoY (Rs 27 crores in Q2 FY20 vs Rs 87 crores in Q2 FY19). Q2 FY19 included stock reval
Slide 20: Shriram Farm Solutions
Shriram Farm Solutions Revenues (Rs. Cr.) PBIT (Rs. Cr.) Cap. Employed Particulars Bulk Value Added Total Bulk Value Added Total (Rs. Cr.) Q2 FY20 16.6 142.9 159.5 (1.7) 9.8 8.2 140.5 Q2 FY19 30.2 126.7 156.9 (5.3) 6.6 1.3 274.4 % Shift (45.1) 12.8 1.6 - 48.5 518.9 (48.8) H1 FY20 47.9 308.6 356.5 (4
Slide 21: Bioseed
Bioseed Revenues (Rs. Cr.) PBIT Cap. Employed Particulars India International Total (Rs. Cr.) (Rs. Cr.) Q2 FY20 100.0 17.4 117.4 5.4 511.1 Q2 FY19 69.1 13.7 82.7 (4.0) 468.3 % Shift 44.9 27.0 41.9 - 9.1 H1 FY20 236.5 51.4 287.9 35.0 511.1 H1 FY19 320.4 44.3 364.7 43.8 468.3 % Shift (26.2) 16.0 (21.1
Slide 22: Fertilizers (Urea)
Fertilizers (Urea) Operational Financial Sales Realisations Revenues PBIT Cap. Employed Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q2 FY20 109,600 25,150 281.5 15.1 441.1 Q2 FY19 94,363 23,106 247.0 17.6 431.3 % Shift 16.1 8.8 13.9 (14.0) 2.3 H1 FY20 172,378 24,779 441.8 (7.4) 441.1 H1
Slide 23: Other Businesses
Other Businesses The ‘Others’ Segment in the financial results, includes Cement, Fenesta Building Systems and Hariyali Kisaan Bazaar. Revenues under ‘Others’ stood at Rs 207 crores in Q2 FY20 from Rs. 192 crores in Q2 FY19. PBIT for the quarter stood . at Rs. 24 crores vis-à-vis Rs. 13 crores in Q2
Slide 24: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book (Rs Crores) Revenues Particulars PBIT Retail Projects Total Total Q2 FY20 84.9 24.0 108.9 118.9 20.2 Q2 FY19 80.6 28.2 108.8 99.0 13.1 % Shift 5.3 (14.8) 0.1 20.1 54.0 H1 FY20 165.7 57.3 223.0 227.1 36.1 H1 FY19 151.1 62.4 213.5 191.5 24.0 %
Slide 25: Cement
Cement Operational Financial Sales Realisations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) Q2 FY20 90,514 3,482 39.9 3.2 Q2 FY19 103,672 3,063 40.3 (0.3) % Shift (12.7) 13.7 (1.0) - H1 FY20 203,032 3,553 87.7 7.2 H1 FY19 216,148 2,994 82.0 0.6 % Shift (6.1) 18.7 7.0 1,075.4 The Ceme
Slide 26: About Us & Investor Contacts
About Us & Investor Contacts DCM Shriram Ltd. is an integrated business entity, with extensive and growing presence across the entire Agri value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Bioseed and Fenesta. Access to captive