Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q4 FY21 Earnings Presentation
30 slides from Dcm Shriram's earnings presentation, May 4, 2021
Slide 1: Q4 & FY21 - Results Presentation
DCM Shriram Ltd. Q4 & FY21 - Results Presentation May 04, 2021 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. Q4 FY21 Key Highlights 4 Projects 6 Returns & Leverage 7 Financial Snapshot 8 Segment Performance 9 FY21 Key Highlights 10 Financial Snapshot 12 Segment Performance 13 Management’s Message 14 Segmental Details Chloro-Vinyl Businesses 16-20 Sugar 21-23 Agri Input Busi
Slide 4: Q4 FY21 - Key Highlights
Q4 FY21 - Key Highlights 1. Revenues for Q4 FY21 up 14% YoY at Rs 2,191 crs: The revenues were positively impacted by: Vinyl Business revenues were up 109% at Rs 272 crs, driven by PVC prices up 70% and carbide prices up 59% Overall sugar revenues up 22% YoY at Rs 1,021 crs. o Exports volumes
Slide 5: Q4 FY21 - Key Highlights
Q4 FY21 - Key Highlights PBDIT was negatively impacted by: Chemicals PBDIT down 8% YoY at Rs 73 crs due to lower ECU realization offset by higher volumes. Another significant offsetting factor is the sale of downstream products - Hydrogen, Aluminum Chloride and SBP. Bioseed PBDIT at –ve Rs 38
Slide 6: Projects
Projects 1. Under implementation at a investment of ~ Rs. 1,500 crs at Bharuch Chemical Complex: 120 MW new coal based power plant expected to be commissioned by Q4 FY22. Epichlorohydrine (ECH) with a capacity of 51,000 TPA along with Glycerin purification facility, expected to be commissioned b
Slide 7: Q4 FY21 - Financial Snapshot
Q4 FY21 - Financial Snapshot Revenue (Net) PBDIT Depreciation 2,191 392 355 1,917 60 58 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 PBIT Finance Cost PAT 333 232 295 201 47 25 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 *Net Finance cost for Q4 FY21 at –ve Rs 3 crs, for Q4 FY20 at Rs 25 crs.
Slide 8: Q4 FY21 - Returns & Leverage
Q4 FY21 - Returns & Leverage PBDIT to Net Sales Net Debt/ EBITDA 1.25 16.7% 15.0% 0.14 FY20 FY21 FY20 FY21 ROCE Capital Employed 19.8% 5,896 Rs Cr 18.0% 4,954 FY20 FY21 FY20 FY21 Note : ROCE and Net Debt/ EBITDA Calculated on TTM basis ROCE calculated on average of the capital employed at end of the
Slide 9: Q4 FY21 - Segment Performance
Q4 FY21 - Segment Performance Rs crs Revenues PBIT PBIT Margins % YoY % YoY % Segments Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Change Change Chloro-Vinyl 627.1 484.3 29.5 176.1 81.0 117.3 28.1 16.7 Sugar 1,020.7 838.3 21.8 220.6 194.6 13.4 21.6 23.2 SFS 64.8 74.1 (12.6) (7.6) (8.2) - (11.7)
Slide 10: FY21 - Key Highlights
FY21 - Key Highlights 1. Revenues for FY21 up 7% at Rs 8,308 crs. (FY 20 Rs. 7,767 crs) Revenues were positively impacted by: Vinyl (Plastics) revenues up 32% YoY at Rs 732 crs driven by PVC prices up 36% YoY. PVC volumes up 13% YoY and carbide volumes lower 46% YoY, this was because the return
Slide 11: FY21 - Key Highlights
FY21 - Key Highlights 2. PBDIT for FY21 at Rs 1,244 crs vs Rs 1,295 crs for FY20. PBDIT was positively impacted by: Vinyl (Plastics) PBDIT at Rs 287 crs for FY21 up 157%, driven by higher product prices and lower power costs. Lower power costs resulting from efficient new 66 MW power plant commi
Slide 12: FY21 - Financial Snapshot
FY21 - Financial Snapshot Revenue (Net) PBDIT Depreciation 7,767 8,308 1,295 1,244 219 233 FY20 FY21 FY20 FY21 FY20 FY21 PBIT Finance Cost PAT 1,076 1,011 717 673 164 122 FY20 FY21 FY20 FY21 FY20 FY21 *Net Finance cost for FY21 at Rs 47.5 crs, for FY20 at Rs 68.1 crs. Note: All figures in Rs. crs Ne
Slide 13: FY21 - Segment Performance
FY21 - Segment Performance Rs crs Revenues PBIT PBIT Margins % YoY % YoY % Segments FY21 FY20 FY21 FY20 FY21 FY20 Change Change Chloro-Vinyl 2,015.2 2,278.2 (11.5) 518.4 652.0 (20.5) 25.7 28.6 Sugar 3,384.5 2,521.6 34.2 428.9 390.7 9.8 12.7 15.5 SFS 858.2 762.0 12.6 109.2 67.6 61.6 12.7 8.9 Bioseed
Slide 14: Management's Message
Management’s Message Commenting on the performance for the quarter and financial year ending March 2021, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: “ FY’21 has been a year of disruptions caused by Covi
Slide 15: Segmental Details
Segmental Details • Caustic Soda (1,845 TPD) • Aluminum Chloride (60 TPD) Chloro-Vinyl • PVC Resins (220 TPD) Businesses • Calcium carbide (112,000 TPA) • Agri- Businesses o Sugar (38,000 TCD) o Co-Gen (155 MW) Agri o Distillery (350 KLD) Businesses o Shriram Farm Solutions o Bioseeds o Fertilizers
Slide 16: Chloro Vinyl Business
Chloro Vinyl Business PBIT Cap. Employed Particulars Revenues (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q4 FY21 627.1 176.1 1,492.3 Q4 FY20 484.3 81.0 1,492.6 % Shift 29.5 117.3 (0.0) FY21 2,015.2 518.4 1,492.3 FY20 2,278.2 652.0 1,492.6 % Shift (11.5) (20.5) (0.0) The Chloro-Vinyl business of the Company has h
Slide 17: Chemicals
Chemicals Operational Financial Caustic Sales ECU Realizations Revenues PBIT Particulars PBIT Margin % (MT) (Rs./MT) (Rs Cr.) (Rs. Cr.) Q4 FY21 128,111 20,882 354.7 53.3 15.0 Q4 FY20 119,337 23,781 354.0 58.9 16.6 % Shift 7.4 (12.2) 0.2 (9.4) (9.6) FY21 473,042 20,404 1,283.0 248.1 19.3 FY20 525,024
Slide 18: Chemicals
Chemicals The demand for Caustic Soda has picked up in Q4’FY21 with increased utilization levels in textiles and Paper industry Industry For the year 2020-21, total imports in India (lye + flakes) were 3.1 lac MT compared to 3.7 lac MT in Overview FY20 For the year 2020-21, total exports from
Slide 19: Plastics
Plastics Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBIT Particulars Realizations Realizations PBIT Margin % (MT) (MT) (Rs Cr.) (Rs. Cr.) (Rs./MT) (Rs./MT) Q4 FY21 19,543 123,429 2,549 84,227 272.3 122.7 45.1 Q4 FY20 11,723 72,741 7,413 53,082 130.3 22.2 17.0 % Shift
Slide 20: Plastics
Plastics Revenue for Q4 FY21 up 109% YoY at Rs 272 crs. o PVC prices up 70% YoY and PVC volumes up 67% YoY. PVC prices continued with a positive uptrend in line with international prices. International prices are firm given the global supply disruptions through out the year and India imports more
Slide 21: Sugar
Sugar Cap. Employed (Rs. Cr.) Particulars Revenues (Rs. Cr.) PBIT (Rs. Cr.) PBIT Margin % Q4 FY21 1,020.7 220.6 21.6 2,621.1 Q4 FY20 838.3 194.6 23.2 2,704.6 % Shift 21.8 13.4 (6.9) (3.1) FY21 3,384.5 428.9 12.7 2,621.1 FY20 2,521.6 390.7 15.5 2,704.6 % Shift 34.2 9.8 (18.2) (3.1) Capital employed i
Slide 22: Sugar
Sugar Sugar Sugar Power Distillery Distillery Sugar Sales Distillery Production (Domestic) Power Sales Realizations Realizations - Realizations - Particulars (Domestic) Sales (Lac Qtls) Realizations (Lac Units) (Rs/ unit) B Heavy C Heavy (Rs/ (Lac Qtls) (Lac Ltrs) (Rs/Qtl) (Lac Units) (Rs/ Ltrs) Ltr
Slide 23: Sugar
Sugar Season Updates: o Crushing days for SY21 at 162 days vs 183 days for SY20. o Cane crushed in SY21 is 553 lac qtls vs 598 lac qtls in SY20. o Recoveries, on final molasses, for SY21 is 11.7% vs 11.9% for SY20. o Contracted exports of 12.5 lac qtls for SY21 vs 18.9 lac qtls in SY 20. Q4 FY21
Slide 24: Shriram Farm Solutions
Shriram Farm Solutions Revenues PBIT Cap. Employed Particulars PBIT Margin % (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q4 FY21 64.8 (7.6) (11.7) (1.4) Q4 FY20 74.1 (8.2) (11.0) 121.2 % Shift (12.6) - - - FY21 858.2 109.2 12.7 (1.4) FY20 762.0 67.6 8.9 121.2 % Shift 12.6 61.6 43.5 - The products includes Seeds,
Slide 25: Bioseed
Bioseed Revenues (Rs. Cr.) PBIT Cap. Employed Particulars PBIT Margin % India International Total (Rs. Cr.) (Rs. Cr.) Q4 FY21 49.4 16.4 65.8 (39.7) (60.3) 427.4 Q4 FY20 34.2 11.1 45.3 (15.5) (34.2) 425.4 % Shift 44.2 48.0 45.1 - - 0.5 FY21 354.8 109.4 464.2 4.4 1.0 427.4 FY20 328.1 87.8 415.9 10.1 2
Slide 26: Fertilizers (Urea)
Fertilizers (Urea) Operational Financial Sales Realizations Revenues PBIT Cap. Employed Particulars PBIT Margin % (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q4 FY21 94,995 21,390 214.9 1.4 0.6 229.5 Q4 FY20 99,372 25,155 300.4 73.3 24.4 768.2 % Shift (4.4) (15.0) (28.5) (98.1) (97.4) (70.1) FY21 40
Slide 27: 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 212 crs in Q4 FY21 from Rs. 183 crs in Q4 FY20. PBIT for the quarter stood . Rs. 15 crs vis-à-vis –ve Rs. 7 crs in Q4 FY20. at DCM
Slide 28: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book (Rs Crores) Revenues Particulars PBIT PBIT Margin % Retail Projects Total Total Q4 FY21 108.8 48.1 157.0 118.3 12.4 10.5 Q4 FY20 70.7 60.3 131.0 84.6 3.6 4.3 % Shift 53.9 (20.1) 19.8 39.8 245.6 147.2 FY21 300.6 147.3 447.9 360.6 29.2 8.1 FY20
Slide 29: Cement
Cement Operational Financial Sales Realizations Revenues PBIT PBIT Margin % Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) Q4 FY21 107,535 3,557 46.5 (5.6) (11.9) Q4 FY20 101,284 3,657 45.9 6.7 14.6 % Shift 6.2 (2.7) 1.3 - - FY21 395,980 3,617 173.3 3.5 2.0 FY20 408,685 3,572 178.2 8.6 4.8 % Shift (3
Slide 30: 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