Pyramid Technoplast Ltd. · NSE:PYRAMID
Pyramid Technoplast — Q2 FY2024 Earnings Presentation
38 slides from Pyramid Technoplast's earnings presentation, Nov 9, 2023
Slide 1: Pyramid Technoplast Limited Investor Presentation
PYRAMID TECHNOPLAST LIMITED Investor Presentation November 9th, 2023
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Pyramid Technoplast 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 s
Slide 3: Index
Index Business Overview & Strategic Update 04 Financial Overview 16 Annexure 24 Industry Overview 35 3
Slide 4: Pyramid Technoplast: An Overview
Pyramid Technoplast: An Overview Founded in 1997, Pyramid is a prominent industrial packaging company known for our polymer-based molded products Specialize in rigid Intermediate Bulk Containers (IBCs), Polymer Drums and Mild steel drums used by the chemical, agrochemical, specialty chemical, and ph
Slide 5: Pyramid Technoplast: in Numbers
Pyramid Technoplast: in Numbers 7 Pan-India 376 + Fleet of 54 Team size Manufacturing Presence satisfied customer Trucks 465+ Units Production Capacity 3 Year CAGR FY23 FY23 FY21-FY23 ROE – 29.6% Revenue - ₹ 480 Cr IBC - 420,000 Units Revenue – 24% ROCE – 28.8% EBITDA - ₹ 51.8 Cr Polymer Drum - 22,8
Slide 6: Our Key Strengths
Our Key Strengths… Comprehensive Product portfolio Diverse Offering complete bulk industrial packaging solutions Customer Base Quality standard Strategic locations of certification and quality Manufacturing units tests 6
Slide 7: Key Highlights
Key Highlights Line1 (120000units/yr) of IBC plant at Unit 7 in Bharuch started commercial production in Sept’23 and is now running at 30% cap util. Metal Drum capacity increased from 30k/month to 50k/month by automation. Further expansion to 90k/month in next 6 months. Capex - Unit 8 construction h
Slide 8: Q2FY24 Performance - Financial Highlights
Q2FY24 Performance - Financial Highlights Revenue EBITDA and Margins (%) PAT and Margins (%) 13 13 13 139 132 7 8 8 110 11.8% 9.1% 9.6% 6.7% 5.6% 5.9% Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24 Q2FY24 Revenue EBITDA and Margins (%) PAT and Margins (%) 480 52 32 50 44 400 26 314 40 33 25
Slide 9: Product Wise Revenue Breakup
Product Wise Revenue Breakup 3% 3% 5% 10% 5% 8% 8% 8% 19% 14% 9% 11% 9% 8% 27% 8% 8% 36% 26% 30% 32% 33% 31% 29% 66% 53% 57% 53% 52% 44% 48% 46% Q2FY23 Q1FY24 Q2FY24 FY20 FY21 FY22 FY23 H1FY24 Polymer Drums IBC MS Drums Others* *Others includes trading, sale of raw material, scrap and accessories co
Slide 10: Operational Performance
Operational Performance Value Volume Particulars UoM FY21 FY22 FY23 H1FY24 UoM FY21 FY22 FY23 H1FY24 Turnover Regular Business: Polymer Drums Rs. Cr 179 214 249 125 MTPA 15,930 16,636 16,811 9,190 MS Drums Rs. Cr 27 45 44 22 MTPA 1,717 2,359 4,726 2,546 Sub Total Rs. Cr 206 259 293 147 MTPA 17,647 1
Slide 11: Revenue Bridge: Polymer Price Lag
Revenue Bridge: Polymer Price Lag Rs Cr 11
Slide 12: Project Update
Project Update 2023 2024 2025 2026 Unit 7 Unit 8 Unit 9 Adding 3 IBC lines. Land acquired. In talks to acquire an Full utilisation of Line 1 Product mix between existing factory shed expanded capacity commissioned in IBC and Steel drums to reduce time to and September'23 being decided market debottl
Slide 13: Capex Trend and Outlook
Capex Trend and Outlook Capex* (Rs. Cr) Strategic Priorities 01 Organic Growth 40-50 Capex budget of Rs. 40-50 Cr for FY24-FY26 for proposed Unit 8 and Unit 9. Asset turnover expected of 5x. 02 Balance Sheet Strength 18 To fund capex from internal accruals and cash balance. To maintain net debt zero
Slide 14: Investment Thesis
Investment Thesis Strong Macro Tailwind: for specialty chemical companies with China+1 strategy India’s Specialty Chemical Market (USD b) 61 Focusing on value-added products: such as IBC by expanding existing facilities; Pyramid has a 40% market share in India 36 De-risked, sustainable growth with r
Slide 15: Financial Overview
FINANCIAL OVERVIEW 15
Slide 16: Q2FY24 Performance - Results
Q2FY24 Performance - Results In ₹ Cr Particulars Q2FY24 Q1FY24 QoQ Q2FY23 YoY Net Sales 131.9 138.5 -5% 109.6 20% Other Income 1.5 1.0 52% 0.3 508% Total Income 133.5 139.5 -4% 109.8 22% Raw Material costs 99.0 109.2 -9% 82.1 21% Employee Cost 5.7 4.7 20% 4.1 38% Other Expenses 16.4 13.0 26% 10.9 50
Slide 17: Profit & Loss Statement
Profit & Loss Statement In ₹ Cr Particulars FY20 FY21 FY22 FY23 H1FY24 Net Sales 259.3 313.5 400.4 480.0 270.4 Other Income 0.9 2.7 2.2 2.0 2.5 Total Income 260.1 316.2 402.6 482.0 273.0 Raw Material costs 190.9 229.8 298.7 362.9 208.2 Employee Cost 11.8 14.8 15.7 17.6 10.4 Other Expenses 38.9 39.1
Slide 18: Balance Sheet
Balance Sheet In ₹ Cr Equities & Liabilities FY20 FY21 FY22 FY23 H1FY24 Assets FY20 FY21 FY22 FY23 H1FY24 Equity 3.91 3.91 3.91 31.28 36.8 Non-Current Assets Reserves 28.03 44.94 71.29 75.97 171.3 Fixed Assets 48.81 51.43 51.81 69.19 87.93 Net Worth 31.94 48.85 75.20 107.25 208.11 Non-Current Invest
Slide 19: Cashflow Highlights
Cashflow Highlights In ₹ Cr Particular FY20 FY21 FY22 FY23 H1FY24 Cashflow from Operations 12.42 8.39 -6.04 38.95 15.75 Cashflow from Investments -6.88 -6.73 -4.28 -23.92 -27.56 Cashflow from Financing -5.85 0.50 9.23 -12.74 33.68 Net Cash Flow -0.31 2.16 -1.09 2.30 21.87 Opening Cash Balance 2.73 2
Slide 20: Key Ratios
Key Ratios ROE (In %) ROCE (In %) 34.79% 34.77% 29.61% 27.85% 28.49% 28.83% 17.38% 18.84% FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Debt to Equity (In Times) Interest Coverage (In Times) 11.56 1.45 1.05 8.25 0.86 0.52 5.38 2.12 -0.11 FY20 FY21 FY22 FY23 H1FY23 FY20 FY21 FY22 FY23 20
Slide 21: Key Ratios
Key Ratios Current Ratio (In Times) Fixed Asset Turnover Ratio (In Times) 1.61 7.73 1.41 6.94 1.26 6.10 1.07 5.31 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Earnings Per Share (In ₹) Book Value (In ₹) 10.24 34.28 8.43 24.04 5.41 15.61 10.21 1.73 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 21
Slide 22: Key Ratios
Key Ratios Working Capital Cycle (In days) Operating Cash Flow (In ₹ Cr) 75 68 69 68 39 66 59 50 46 46 39 34 27 12 8 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Creditors Day Inventory Days Debtors Day -6 22
Slide 23: Annexure
ANNEXURE 23
Slide 24: Pyramid Technoplast: Our Journey
Pyramid Technoplast: Our Journey 1997 1998 2003 Incorporation of Commenced production of Acquired majority shareholding Company Polymer Drums at Silvassa. in Company by Promoters and Promoter Group. 2016 2014 2013 2011 Commence production of IBC at Bharuch Achieved Turnover of Expansion of Expansion
Slide 25: Board Of Directors
Board Of Directors B.com Graduate from Mumbai University and Masters from ICFAI Experience in packaging industry University, Dehradun. over 3 decades. More than 19 years of experience Looks after Finance, Raw material in the packaging Industry. Procurement, Customer Servicing Look after Manufacturin
Slide 26: Delivering Packaging Excellence: Our Product Portfolio
Delivering Packaging Excellence: Our Product Portfolio FY23 Revenue Breakup 0.06% 9.12% IBC Containers 32.15% 58.67% Polymer Drums MS Drums Polymer Drums IBC MS Drums Others 26
Slide 27: IBC Containers: Streamlining Logistics and Enhancing Efficiency
IBC Containers: Streamlining Logistics and Enhancing Efficiency • Pyramid Technoplast is a leading manufacturer of rigid Intermediate Bulk Containers (IBCs), specializing in the production of 1000- liter capacity IBCs. • With a strong focus on organization, mobility, and integration capabilities, ou
Slide 28: Plastic Barrels: Versatile Solutions For Industrial Packaging
Plastic Barrels: Versatile Solutions For Industrial Packaging • Pyramid Technoplast is engaged in the manufacturing of all types of plastic barrels, containers, and HDPE drums that are widely used for industrial and commercial applications. Their plastic drums and containers are supplied to chemical
Slide 29: MS Drums: Meeting Diverse Packaging Needs
MS Drums: Meeting Diverse Packaging Needs • Pyramid Technoplast serves as a one-stop shop for all your packaging needs, offering a wide range of drum options such as General- Purpose Metal drums, Epoxy Coated/Lacquered drums, Composite drums, Galvanized drums, and Open top drums. • The Company's IBC
Slide 30: State Of The Art Manufacturing Facilities
State Of The Art Manufacturing Facilities: Powering Innovation & Production Excellence Unit 1 Unit 2 Unit 3 Located in Silvassa. Located in Silvassa. Located in Vilayat Vagra GIDC Bharuch. Installed capacity 5,180 MTPA. Installed capacity 3,282 MTPA. Installed capacity 6,694. MTPA. Area 4,018 Sq. M.
Slide 31: Precision, Quality, Innovation: Advanced Manufacturing Technologies
Precision, Quality, Innovation: Empowering Manufacturing Excellence with Advanced Technologies Fully automated machines with advanced blow molding technologies are utilized in the manufacturing process. National and international standard molds and dyes are used to ensure high-quality production. Ai
Slide 32: Certifications: Recognitions Of Quality & Global Compliance
Certifications: Recognitions Of Quality & Global Compliance Quality Certification Approved International TUV International TUV Certification Pyramid Technoplast IBC – Pyramid Technoplast IBC – and certified by IIP Govt of India Certification of IBC From of IBC From TUV Singapore Collection Service i
Slide 33: Utilization of Net Issue Proceeds
Utilization of Net Issue Proceeds Utilization of Net Issue Proceeds (Rs. Cr) Repayment/ Prepayment of Certain Outstanding Borrowing 47 % 21.5 Funding Working Capital Requirements 28 % 40 0 General Corporate Purpose 0% Unutilized as on Sep'23 25 % 23.8 33
Slide 34: Industry Overview
INDUSTRY OVERVIEW 34
Slide 35: Growing Demand for IBCs in India
Growing Demand for IBCs in India India's Intermediate Bulk Container (IBC) market revenue is expected to grow at a CAGR of 10.56% from ₹ 4,001,261.80 lakhs in FY22 to ₹ 8,931,901.94 India Intermediate Bulk Container Market Volume lakhs in FY30 Estimates And Forecasts, By End Use, 2019-2030 (Mn Units
Slide 36: The Rise of Polymer Drums in Industrial Applications
The Rise of Polymer Drums in Industrial Applications India's polymer drums market revenue is expected to grow at a CAGR of HDPE: India Demand Supply In Kt 9.87% from ₹ 127,584.77 lakhs in FY22 to ₹ 270,937.39 lakhs in FY30. 2,775 2,665 2,665 2,605 2,551 2,538 2,473 2,448 2,440 o High-density polyeth
Slide 37: Industrial Demand Drives Mild Steel Drum Sales
Industrial Demand Drives Mild Steel Drum Sales India’s MS-Drums market revenue is expected to grow at a CAGR of INDIA EXPORTS (2021 – 22) 9.14% from ₹ 280714.74 lakhs in FY22 to ₹ 517794.61 lakhs in FY30 US 29.00% UK Russia South Africa o MS drums serve as a versatile packaging option, providing saf
Slide 38: Thank You
Pyramid Technoplast Limited Office No. 2, Second Floor, Shah Trade Center, Rani Sati Marg, Near W.E. Highway, Malad (East), Mumbai - 400 097, Maharashtra, India. Phone: +91 22 42761500 Email: info@pyramidtechnoplast.com Website: www.pyramidtechnoplast.com Investor Relations Go India Advisors Name: M
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