Slide 1: Cover letter to stock exchanges
The Corporate Relationship Department, National Stock Exchange of India Limited BSE Limited "Exchange Plaza" 1st Floor , New Trading Ring Rotunda Bandra-Kurla Complex Building, P.J. Towers Bandra (E) Dalai Street, Mumbai 400 051 Mumbai 400 001 Scrip Code- 503806 Scrip Code-SRF SRF/SEC/BSE/NSE 04.02.
Slide 2: SRF Limited Q3 & 9M FY20 Results Presentation
SRF Limited We always find a better way February 04, 2020 Q3 & 9M FY20 Results Presentation
Slide 3: Disclaimer
Disclaimer Certain statements in this document may be forward-looking statements. Such forward- looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ ma
Slide 4: Contents
Contents Q3 & 9M FY20 Results Overview 04 Q3 & 9M FY20 Segmental Performance 09 Company Overview 24 Outlook 27 3
Slide 5: Q3 & 9M FY20 Results Overview
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Slide 6: Abridged Results Overview
Abridged Results Overview Consolidated figures Particulars (Rs. Crore) Q3 FY20 Q3 FY19 % Y-o-Y 9M FY20 9M FY19 % Y-o-Y Gross Operating Revenue 1,850.5 1,808.8 2.3% 5,351.6 5,162.6 3.7% EBIDTA 395.7 318.4 24.3% 1,112.8 958.7 16.1% EBIDTA Margin (%) 21.4% 17.6% 20.8% 18.6% Depreciation 101.9 90.9 12.0
Slide 7: Results Overview - Financial Overview
Results Overview - Financial Overview Key Financial Ratios Particulars FY13 FY14 FY15 FY16 FY17 FY18 FY19 EBITDA Margin 17.59% 13.59% 20.43% 22.13% 21.42% 17.69% 18.82% PAT Margin 6.69% 4.04% 8.78% 9.51% 10.87% 8.38% 8.51% Net Debt to Equity 0.71 1.01 0.99 0.73 0.67 0.82 0.83 Net Debt to EBITDA 2.06
Slide 8: Results Overview - Revenue & EBIT
Results Overview - Revenue & EBIT Revenues (Rs. Crore) EBIT (Rs. Crore) 812 149 703 143 586 638 454 88 73 77 336 37 69 68 8 6 TTB CB PFB Others TTB CB PFB Others Q3 FY20 Q3 FY19 Q3 FY20 Q3 FY19 425 2,093 2,002 353 2,030 306 1,605 214 218 1,331 1,041 114 26 16 221 201 TTB CB PFB Others TTB CB PFB Oth
Slide 9: Results Overview - Revenue Share
Results Overview - Revenue Share Q3 FY20 Q3 FY19 18.1% 3.7% 3.7% 25.1% 34.4% 38.8% 43.8% 32.4% CB 9M FY20 9M FY19 PFB 4.1% 3.9% 19.4% TTB 25.8% 37.4% 39.3% Others 39.1% 31.1% CB – Chemicals Business; PFB - Packaging Films Business; TTB – Technical Textiles Business; Others 8
Slide 10: Chemicals, Packaging Films, Technical Textiles, Others
Packaging Technical Chemicals Others Films Textiles L2 : SRF-Internal
Slide 11: Chemicals Business
Ghemicals Business
Slide 12: Chemicals Business - Results Update
Chemicals Business - Results Update Segment % Contribution to % Contribution to (Rs. Crore) EBIT % EBIT Margins Revenues Revenues EBIT Q3 FY20 811.9 43.8% 143.1 17.6% 42.4% Q3 FY19 586.0 32.4% 76.6 13.1% 31.5% % Shift 38.5% 86.7% 9M FY20 2,093.1 39.1% 352.6 16.8% 38.4% 9M FY19 1,605.4 31.1% 218.3 13
Slide 13: Chemicals Business - Key Highlights (Specialty Chemicals)
Chemicals Business - Key Highlights Specialty Chemicals Business • Segment delivered strong performance • Performance was backed by healthy demand seen in Agro-Chemical segment - witnessing traction from Brazil and other LATAM markets • New products gaining momentum • Newly commissioned facilities h
Slide 14: Chemicals Business - Key Highlights (Fluorochemicals)
Chemicals Business - Key Highlights Fluorochemicals Business • The segment registered subdued performance, owing to: • Slowdown in the auto sector • Drop in global prices of refrigerants on account of weak demand • Peak prices of Chloromethane products normalizing • Successfully commissioned brownfi
Slide 15: Chemicals Business - Key Highlights (Chemicals Technology Group)
Chemicals Business - Key Highlights Chemicals Technology Group Chemicals Technology Group (CTG) is actively engaged in the development of new process technologies – Key focus on high end molecules Strong internal competencies and capabilities – Equipped with state-of-the-art R&D facilities and an in
Slide 16: Packaging Films Business
acKkaging Films Business
Slide 17: Packaging Films Business - Results Update
Packaging Films Business - Results Update Segment % Contribution % EBIT % Contribution to (Rs. Crore) EBIT Revenues to Revenues Margins EBIT Q3 FY20 638.2 34.4% 149.4 23.4% 44.3% Q3 FY19 702.6 38.8% 88.1 12.5% 36.2% % Shift -9.2% 69.6% 9M FY20 2,002.5 37.4% 424.9 21.2% 46.3% 9M FY19 2,030.2 39.3% 30
Slide 18: Packaging Films Business - Key Highlights
Packaging Films Business - Key Highlights Packaging Films Business • Performance was healthy across all units: • In Q3FY20, steady overall demand for BOPET and BOPP films • Margin expansion on account of improved efficiencies, expanded product offerings and higher contribution from value added produ
Slide 19: Technical Textiles Business
Technical Textiles Business 18
Slide 20: Technical Textiles Business - Results Update
Technical Textiles Business - Results Update Segment % Contribution % EBIT % Contribution to (Rs. Crore) EBIT Revenues to Revenues Margins EBIT Q3 FY20 335.7 18.1% 36.5 10.9% 10.8% Q3 FY19 454.3 25.1% 72.8 16.0% 29.9% % Shift -26.1% -49.8% 9M FY20 1,040.8 19.4% 114.3 11.0% 12.4% 9M FY19 1,330.7 25.8
Slide 21: Technical Textiles Business - Key Highlights
Technical Textiles Business - Key Highlights Tyre Cord Fabric, Belting Fabric & Polyester Industrial Yarn • NTCF segment performance impacted due to the slump in automotive sector • Some stock valuation impact in Q3 FY 20 • During the slowdown, the business focused on improving overall efficiencies
Slide 22: Others
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Slide 23: Others - Results Update
Others - Results Update Segment % Contribution % EBIT % Contribution to (Rs. Crore) EBIT Revenues to Revenues Margins EBIT Q3 FY20 69.1 3.7% 8.27 12.0% 2.5% Q3 FY19 67.5 3.7% 5.73 8.5% 2.4% % Shift 2.3% 44.4% 9M FY20 220.7 4.1% 26.5 12.0% 2.9% 9M FY19 200.7 3.9% 16.1 8.0% 2.1% % Shift 9.9% 64.5% Con
Slide 24: Others - Key Highlights
Others- Key Highlights Coated & Laminated Fabrics • Coated Fabrics delivered a stable performance • Laminated Fabrics segment performed well despite the continuing oversupply situation 23
Slide 25: Company Overview
Slide 26: Overview - Business Profile
Overview - Business Profile Revenue EBIT No. of Plants Chemicals Fluorochemicals Specialty Chemicals • Refrigerants • Organic intermediates for agro & 2445 384 2 • Pharma propellants pharma • Industrial chemicals Packaging Films for Flexible Packaging Films 2653 411 5 • Bi-axially Oriented Polyethyl
Slide 27: Overview Growth Levers
Overview Growth Levers Focus on building Nurture innovation leadership businesses through R&D Build and maintain Reposition portfolio market leadership in towards knowledge business segments based products Build a Company known and respected for its R&D capabilities Focus on building knowledge bas
Slide 28: Outlook
Slide 29: Outlook - Chemicals Business
Outlook - Chemicals Business Focus on expanding to new markets / geographies and product offerings Integrated capacities to produce a range of current & future HFC’s to cater to customer needs Better operating leverage likely to lead to margin expansion Focus on moving up the value chain through acc
Slide 30: Outlook - Packaging Films Business
Outlook - Packaging Films Business Overall the global packaging films industry is witnessing improvement in capacity utilization However in short term, there will be supply overhang in BOPET which can put pressure on margins Focus on increasing pace of R&D efforts, sustainability initiatives, effici
Slide 31: Outlook - Technical Textiles Business
Outlook - Technical Textiles Business Improving macroeconomic environment may have a positive impact, NTCF demand to track overall GDP growth rates Capacities rationalization across various plants to assist in margin expansion Other sub segments of Technical Textiles performing as per expectations 3
Slide 32: About Us
About Us Established in 1970, SRF Limited with an annual turnover of ₹7,541 crore (US$ 1,077 million) is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company’s diversified business portfolio covers Technical Textiles, Fluorochemic
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