Dwarikesh Sugar Industries Ltd. · NSE:DWARKESH
Dwarikesh Sugar Industries — Q3 FY24 Earnings Presentation
32 slides from Dwarikesh Sugar Industries's earnings presentation, Jan 30, 2024
Slide 1: Regulation 30 disclosure cover letter to stock exchanges
REF: DSIL/2023-24/291 January 30, 2024 Corporate Relationship Department National Stock Exchange of India Limited BSE Limited “Exchange Plaza” Phiroze Jeejeebhoy Towers Bandra – Kurla Complex, Dalal Street, Fort, Mumbai - 400 001 Bandra [E], Mumbai - 400 051 Fax: 22723 2082 /3132 Scrip Code - 532610
Slide 2: Investor Presentation: Q3 & 9M FY24 Results
INVESTOR PRESENTATION C O M PA N Y P E R F O R M A N C E Q3 & 9M FY24 Results 30 JANUARY 2024
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and the accompanying slides (the “Presentation”), which have been prepared by Dwarikesh Sugar Industries Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscr
Slide 4: Earnings Call
EARNINGS CALL Time and Date 3:00 PM IST, Wednesday, January 31, 2024 Conference Dial-In +91 22 6280 1116 / +91 22 7115 8017 International Toll Free UK 08081011573 USA 18667462133 Hong Kong 800964448 Singapore 8001012045 Diamond Pass: Diamond Pass Registration (choruscall.in) Earnings Call Investor P
Slide 5: Table of contents
Table of contents Sector outlook 05 Business overview 07 Financial performance 12 Operational trends 17 Pictures of our facilities 25
Slide 6: Sector Outlook
SECTOR OUTLOOK According to the latest report from S&P Global the projected sugar surplus for the 2023-24 period has witnessed a notable increase, rising by 1.5 million metric tons as compared to the October estimate, reaching a total of 4.74 million metric tons. This upward revision is attributed t
Slide 7: Sector Outlook (Continued)
Continued.. As per the orders of the Central Government, not only was there an immediate curb on use of juice / syrup for making ethanol, but the quantity of ethanol produced using B heavy molasses was also limited to the original quantity offered by sugar mills / distilleries to the Oil Marketing C
Slide 8: Business Overview
BUSINESS OVERVIEW
Slide 9: At a Glance
AT A GLANCE Capacity Dwarikesh Dwarikesh Dwarikesh Aggregate Nagar Puram Dham Sugar (TCD) 6,500 7,500 7,500 21,500 Cogeneration 96 22 33 41 (MW) (Surplus: c. 56) Distillery (LPD) 1,62,500 - 1,75,000 3,37,500 • Three plants located in Uttar Pradesh, one of India’s largest sugar producing states ⚬ Two
Slide 10: Operations Overview
OPERATIONS OVERVIEW Farmers Molasses (nearly 1.54 lakhs) (External Sales) Industrial Alcohol Cane Development & (162.5 KLPD at Dwarikesh Sugarcane Molasses Distillery Marketing Nagar & 175 KLPD at Dwarikesh Dham) Crushing Clarification Sugar Dwarikesh Sugar (3 facilities) Sugarcane Juice Evaporation
Slide 11: Management
MANAGEMENT G R Morarka Vijay S BJ Banka Maheshwari ⚬ Founder and Promoter ⚬ Managing Director ⚬ Managing Director & Company ⚬ Executive Chairman Commerce graduate ⚬ Chartered Accountant Secretary cum Chief Compliance & ICWA Inter ⚬ Associated with the Officer ⚬ Received ‘Indira Gandhi Priyadarshini
Slide 12: Key Milestones
KEY MILESTONES Set up DN Distillery with 30,000 LPD Debottlenecking of DN capacity; 100 KLPD Distillery Distillery by capacity expansion Commissioned Dwarikesh Puram Commencement of DN Crushing capacity commissioning project successfully (DP) plant with crushing capacity of surplus power supply reac
Slide 13: Financial Performance
FINANCIAL PERFORMANCE Q3 & 9M FY24
Slide 14: Performance Highlight
PERFORMANCE HIGHLIGHT In INR million Q3FY24 9MFY24 Q3FY23 9MFY23 FY23 Total Income 3,189.6 13,391.8 3,917.3 15,825.7 21,170.0 EBIDTA 320.2 1,413.2 343.9 1,402.5 2,285.7 PAT 98.1 606.9 105.2 580.6 1,048.1 In INR Q3FY24 9MFY24 Q3FY23 9MFY23 FY23 EPS 0.52 3.22 0.56 3.08 5.57 During 9M FY23, depreciatio
Slide 15: Quarterly Trends
QUARTERLY TRENDS EBITDA (Million) PAT (Million) Revenue from Operations (Million) PAT Margin Average Domestic Sugar Realization EBITDA Margin INR/Quintal 10.2% 3.1% 3852.1 9.0% 2.7% 3559.7 105.2 98.1 3838.4 3129.1 343.9 320.2 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 PAT Margin is PAT / Revenue from
Slide 16: 9M FY24 Trends
9M FY24 TRENDS Revenue from Operations - External (INR Million) PAT(Million) EBITDA (INR Million) PAT Margin 4.6% EBITDA Margin 10.6% 3.7% 8.9% 1402.5 1413.2 15704.1 13296.3 580.6 606.9 9MFY23 9MFY24 9MFY23 9MFY24 PAT Margin is PAT / Revenue from operations EBITDA Margin is EBITDA / Revenue from ope
Slide 17: Financials - Summary
FINANCIALS - SUMMARY In INR million INCOME Q3FY24 9MFY24 Q3FY23 9MFY23 FY23 REMARKS Lower during the Q3FY24 & 9MFY24 on Revenue from operations 3,129.1 13,296.3 3,838.4 15,704.1 21,029.6 account of lower volume of sugar sold Other income 60.5 95.5 78.9 121.6 140.4 -- Total Revenue 3,189.6 13,391.8 3
Slide 18: Financials - Summary (continued)
FINANCIALS - SUMMARY (continued) In INR million INCOME Q3FY24 9MFY24 Q3FY23 9MFY23 FY23 REMARKS Higher during Q3FY24 & 9MFY24 on account of depreciation in respect of DD Distillery unit Depreciation and amortization expense 135.9 398.6 133.7 374.3 502.3 (Commenced operations during Q2FY23) Other exp
Slide 19: Operational Trends
OPERATIONAL TRENDS
Slide 20: Sugar Business Highlights
SUGAR BUSINESS HIGHLIGHTS ▪ Crushing operations for SS 2023-24 commenced at DN & DP units on 31st October, 2023 and at DD unit on 5th November, 2023. ▪ Crushing during the quarter is lower by 1.89% at 122.72 lakh quintals, as compared to 125.08 lakh quintals during corresponding quarter of last year
Slide 21: Sugar Business - Quarterly Snapshot
SUGAR BUSINESS - QUARTERLY SNAPSHOT Sugar Sold ('000 Quintal) Revenue from Operations (INR Million) Average Domestic Sugar Realization INR/Quintal EBITDA (INR Million) 3852.1 6.0% EBITDA Margin 5.2% 5.0% 4.1% 4.0% 153.3 170.1 3.0% 2.0% 3559.7 1.0% 647.1 494.1 3698.5 3256.8 0.0% Q3FY23 Q3FY24 Q3FY23
Slide 22: Sugar Business - 9M FY24 Snapshot
SUGAR BUSINESS – 9M FY24 SNAPSHOT Revenue from Operations (INR Million) Sugar Sold ('000 Quintals) EBITDA (INR Million) Average Domestic Sugar Realization EBITDA Margin (INR/Quintal) 3.5% 3692.2 2.8% 499.6 322.6 3482.7 14459.7 11697.4 3325.0 2183.5 9MFY23 9MFY24 9MFY23 9MFY24 EBITDA Margin is EBITDA
Slide 23: Cogeneration Data
COGENERATION DATA HIGHLIGHTS – 9M FY24 Power Generated (Mn Units) ▪ Revenue from Power sale during has increased by 8% during 9MFY24, Power Exported (Mn Unit) Average Realization (INR/Unit) reaching Rs. 26.95 crore, as compared to Rs. 24.88 crore during the corresponding period of last year. The gen
Slide 24: Distillery Quarterly Snapshot
DISTILLERY QUARTERLY SNAPSHOT HIGHLIGHTS ▪ The sale volume of Industrial Alcohol declined by 16% in Q3FY24, and increased by 34% in 9MFY24 as compared to the corresponding periods of FY23. Similarly revenue also declined by 17% during Q3FY24 and increased by 35% in 9MFY24 as compared to correspondin
Slide 25: Distillery 9M FY24 Snapshot
DISTILLERY 9M FY24 SNAPSHOT Industrial Alcohol Sold (Mn L) Revenue from Operations (INR Million) Average Realization(INR/L) EBITDA (INR Million) EBITDA Margin 62.1 26.5% 23.7% 60.9 902.9 1090.5 54.7 73.3 3404.3 4598.2 9MFY23 9MFY24 9MFY23 9MFY24 EBITDA Margin is EBITDA / Revenue from operations Oper
Slide 26: Pictures of Our Facilities
PICTURES OF OUR FACILITIES
Slide 27: Dwarikesh Nagar Unit (Bijnor District)
DWARIKESH NAGAR UNIT (BIJNOR DISTRICT) Sugar plant overview Distillation house & multi-effect evaporator Bagasse silos & feeders of boiler Continuous pan
Slide 28: Dwarikesh Puram Unit (Bijnor District)
DWARIKESH PURAM UNIT (BIJNOR DISTRICT) Juice evaporator Centrifugal station Cogeneration control panel Switch yard
Slide 29: Dwarikesh Dham Unit (Bareilly District)
DWARIKESH DHAM UNIT (BAREILLY DISTRICT) Facility overview 24 MW TG set Pan station Clarification section
Slide 30: Dwarikesh Nagar Distillery (Bijnor District)
DWARIKESH NAGAR DISTILLERY (BIJNOR DISTRICT) 162.5 KLPD distillery
Slide 31: Dwarikesh Dham Distillery (Bareilly District)
DWARIKESH DHAM DISTILLERY (BAREILLY DISTRICT) 175 KLPD distillery
Slide 32: Thank You
THANK YOU Vijay S. Banka Poonam Saney Rashi Sanghi Managing Director (DSIL) Adfactors PR Pvt. Ltd. Adfactors PR Pvt. Ltd. Email: vsbanka@dwarikesh.com Email: poonam.saney@adfactorspr.com Email: rashi.sanghi@adfactorspr.com
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