Electrosteel Castings Ltd. · NSE:ELECTCAST
Electrosteel Castings — Q3 FY2024 Earnings Presentation
27 slides from Electrosteel Castings's earnings presentation, Feb 13, 2024
Slide 1: Stock exchange disclosure letter
February 13, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Fort, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 500128 Symbol: ELECTCAST ISIN : INE086A01029 Dear Sir/Madam, Sub : Disclosure under Re
Slide 2: Q3 & 9MFY24 Investor Presentation
Q3 & 9MFY24 Investor Presentation February 2024 ‘La Frasnee’ Hydropower Plant Project - France
Slide 3: Table of Contents
Table of Contents 1 Water Infrastructure Opportunity 2 Investment Rationale 3 Financial Highlights (Q3 & 9MFY24) 4 Appendix
Slide 4: Water Infrastructure Opportunity
Water Infrastructure Opportunity
Slide 5: Water Infrastructure Demand Drivers
Water Infrastructure Demand Drivers Jal Jeevan Mission (JJM): Driving Water JJM : Funds Drawn by States/Union Territories Infra Demand (INR Crore) 60,712 54,744 ➢ The Government’s flagship scheme - Outlay of INR 3.60 lakh crores 40,010 ➢ Providing water supply by to every crore rural household at a
Slide 6: Water Infrastructure Applications
Water Infrastructure Applications ECL’s Water Infra Applications Drinking water/ Industrial Sewage and Miscellaneous irrigation applications Wastewater Disposal applications ➢ Clear and Raw ➢ Ash-Slurry Handling ➢ Gravity Sewage ➢ Vertical Connection to Water Transmission & Disposal System Collectio
Slide 7: Ductile Iron Pipe & Fittings Best Suited for Water Infra
Ductile Iron Pipe & Fittings Best Suited for Water Infra Ductile Iron Pipe Ductile Iron Fittings ECL is the pioneer in setting up the first Ductile Iron Pipe plant ECL is amongst the premier manufacturers of Ductile Iron in the Indian Sub-continent fittings in India ➢ One of the most preferred pipes
Slide 8: Investment Rationale
ELECTROSTEEL Investment Rationale
Slide 9: Financial Highlights
Financial Highlights Credit Rating & Financial Highlights Dividend History Strong Balance Sheet ➢ Revenues at INR 5,232 Crores, Highest ever ➢ Long Term: CRISIL AA-/ Stable ➢ Consistently rewarding nine-months EBITDA and PAT at INR 927 (Reaffirmed) stakeholders with dividend Crores and INR 517 Crore
Slide 10: Fueling Capex Plans with Internal Accruals and LT debt reduction
Fueling Capex Plans with Internal Accruals and LT debt reduction Cash Profit (PAT + Depreciation) (INR Crore) 602 Capacity (in Lakh MT) & Planned Capex 438 449 210 7.15 7.40 5.03 6.04 FY21 FY22 FY23 9MFY24 Capex aided by Cash Flows along with Reduction in Debt Long Term Debt (INR Crore) 5.80 6.36 6.
Slide 11: Largest Beneficiary of Water Infrastructure Play
Largest Beneficiary of Water Infrastructure Play Establishing a Niche Play Manufacturing Excellence & ESG Initiatives Global Presence ➢ Promoters Expertise of almost Seven ➢ 5 Multi-locational Strategic State-of- ➢ Treats and utilises sewage water of Decades Art Facilities Tirupati Municipal Corpora
Slide 12: Delivering Key Projects for Marquee Clients
Delivering Key Projects for Marquee Clients ISRO Vikram Sarabhai Space Centre Kargil India’s New Parliament Building Boeing Corporation Pfizer Facility BMW (Wallersdrof, Germany) Ras Abu Aboud Stadium, Qatar Doha Metro Hamad International Airport WWTP, Okhla French Atomic Centre 11
Slide 13: Financial Highlights
Financial Highlights
Slide 14: Q3/9M-FY24 Result Highlights (Consolidated)
Q3/9M-FY24 Result Highlights (Consolidated) Particulars (in INR Q3FY24 Q3FY23 YoY Q2FY24 QoQ 9MFY24 9MFY23 YoY FY23 Crores) • Total Income grew by 1% YoY to Total Income 1,892 1,867 1.3% 1,938 (2.3%) 5,542 5452 1.6% 7,360 INR 1,892 Crores in Q3FY24 Cost of Goods Sold 856 1,060 (19.3%) 981 (12.7%) 2,
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet Equity and Liabilities (in INR Crores) FY23 H1FY24 Assets (in INR Crores) FY23 H1FY24 Share Capital 59 59 Non Current Assets Other Equity 4,325 4,515 Plant, Property and Equipment 2,668 2,715 Total Equity 4,384 4,574 Capital Work in Progress 1,302 1,281 Borrowings 737 552
Slide 16: Financial Snapshot (Consolidated)
Financial Snapshot (Consolidated) Gross Profit (in INR Crores) & Gross Margin (%) EBITDA (in INR Crores) & EBITDA Margin (%) 13.8% 14.1% 11.1% 16.9% 54.4% 53.6% 45.8% 50.1% 935 822 3,372 754 2,858 2,774 1,919 487 FY21 FY22 FY23 9MFY24 FY21 FY22 FY23 9MFY24 PAT (in INR Crores) & PAT Margin (%) Earnin
Slide 17: Financial Snapshot (Consolidated)
Financial Snapshot (Consolidated) Net Leverage Analysis Working Capital Analysis (in Days) Net Debt to Equity 136 140 143 131 0.50 0.48 0.43 0.39 FY21 FY22 FY23 9MFY24 FY21 FY22 FY23 9MFY24 Adjusted Return on Capital Employed* Adjusted Return on Equity* 19.0% 19.2% 11.1% 12.3% 12.3% 8.7% 10.2% 6.1%
Slide 18: Q3/9M-FY24 Result Highlights (Standalone)
Q3/9M-FY24 Result Highlights (Standalone) Particulars Q3FY24 Q3FY23 YoY Q2FY24 QoQ 9MFY24 9MFY23 YoY FY23 (in INR Crores) Total Income 1,814 1,751 3.6% 1,888 (3.9%) 5,232 5227 0.1% 7,013 • Total Income grew by 4% YoY to Cost of Goods Sold 875 1,039 (15.8%) 992 (11.8%) 2,697 2952 (8.7%) 3,964 INR 1,8
Slide 19: Standalone Balance Sheet
Standalone Balance Sheet Equity and Liabilities (in INR Crores) FY23 H1FY24 Assets (in INR Crores) FY23 H1FY24 Share Capital 59 59 Non-Current Assets Other Equity 4,211 4,417 Plant, Property and Equipment 2,605 2,652 Total Equity 4,270 4,476 Capital Work in Progress 1,302 1,280 Borrowings 706 523 Ot
Slide 20: Financial Snapshot (Standalone)
Financial Snapshot (Standalone) Gross Profit (in INR Crores) & Gross Margin (%) EBITDA (in INR Crores) & EBITDA Margin (%) 14.3% 14.1% 11.7% 17.7% 53.5% 50.8% 48.5% 43.5% 927 819 716 3,049 2,587 2,535 449 1,679 FY21 FY22 FY23 9MFY24 FY21 FY22 FY23 9MFY24 PAT (in INR Crores) & PAT Margin (%) Earnings
Slide 21: Financial Snapshot (Standalone)
Financial Snapshot (Standalone) Net Leverage Analysis Working Capital Analysis (in Days) Net Debt to Equity 138 129 129 125 0.47 0.43 0.36 0.36 FY21 FY22 FY23 9MFY24 FY21 FY22 FY23 9MFY24 Adjusted Return on Capital Employed* Adjusted Return on Equity* 20.2% 20.0% 13.0% 12.0% 11.1% 11.2% 8.8% 5.6% FY
Slide 22: Shareholder Information
Shareholder Information Capital Market Data Shareholding Pattern December 2023 (%) NSE Ticker /BSE Code ELECTCAST / 500128 Current Market Price (as on 08 Feb 2024) 184 Promoter Market Cap (INR Crores) (as on 08 Feb 2024) 10,964 38% 44% FIIs 52 Week High/Low 204.4/31.4 DIIs Shares Outstanding, Crores
Slide 23: Safe Harbour
Safe Harbour This presentation has been prepared by Electrosteel Castings Limited solely to provide information about the Company. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such informa
Slide 24: Thank You
Thank You Electrosteel Castings Limited Corporate Office G.K. Tower, 19, Camac Street, Kolkata - 700 017 Contact: +91-33-22839990 www.electrosteel.com IR Contact Details Hiral Keniya | Vikash Verma hiral.keniya@in.ey.com | vikash.verma1@in.ey.com +91 9029662801| +91 9664009029
Slide 25: Q3 & 9MFY24 Concall Invite
Q3 & 9MFY24 Concall Invite Q3 & 9MFY24 Earnings Conference Call February 13, 2024, 2:00 P.M. IST Management Representatives Mr. Uddhav Kejriwal – Whole-time Director Mr. Madhav Kejriwal – Whole-time Director Mr. Ashutosh Agarwal – Whole-time Director & Chief Financial Officer Mr. Gaurav Somani – Joi
Slide 26: Appendix
Appendix
Slide 27: Our Journey Towards Integrated Play
Our Journey Towards Integrated Play 1955-59 1994 1996 2000 2002-03 2005 2006 ➢ Acquired 46% stake in ➢ Commissioning of ➢ Capacity of DI Pipe Founded in 1955. Set Up DI Pipe plant Obtained Kitemark Lanco Industries Ltd. Obtained Kitemark license 150,000 TPA COP at SW increased to 120,000 Commenced P
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