Tinna Rubber & Infrastructure Limited · NSE:TINNARUBR
Tinna Rubber & Infrastructure — Q4 FY24 Earnings Presentation
47 slides from Tinna Rubber & Infrastructure's earnings presentation, May 28, 2024
Slide 1: Stock exchange covering letter for investor and earnings presentation
Date: May 28, 2024 To, To, The Manager (Deptt. of Corporate Services) The Secretary, BSE Limited Calcutta Stock Exchange Limited Phiroze Jeejeebhoy Towers, 7, Lyons Range, Dalal Street, Mumbai-400001. Kolkata-700001 Scrip Code: 530475 ISIN: INE015C01016 SUBJECT: INVESTOR AND EARNINGS PRESENTATION De
Slide 2: Investor & Earnings Presentation Q4/FY24
INVESTOR & EARNINGS PRESENTATION Q4/ FY24-FY24 1
Slide 3: Disclaimer
DISCLAIMER Tinna Rubber and Infrastructure Disclaimer: 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 the information or opinions contained in this presentation. Such information and opinio
Slide 4: Performance Highlights Q4 & FY24
PERFORMANCE HIGHLIGHTS Q4 & FY24 3
Slide 5: Q4/FY24 Quarterly Highlights – Standalone
Q4/FY24 QUARTERLY HIGHLIGHTS – Standalone Revenue from Operation 22%+ 18%+ Volume (In MT) * Tyre processed in tons (INR Mn) 1099 Volume Revenue 30,665 932 Q-o-Q Q-o-Q 25,207 727 19,384 40%+ 52%+ Q4-FY23 Q3-FY24 Q4-FY24 Q4-FY23 Q3-FY24 Q4-FY24 EBITDA PAT Q-o-Q Q-o-Q EBITDA (INR Mn) & EBITDA PAT (INR
Slide 6: Quarterly Key Segment Performance – Infrastructure & Industrial
QUARTERLY KEY SEGMENT PERFORMANCE–Infrastructure & Industrial INFRASTRUCTURE SEGMENT The infrastructure segment has experienced a 16% increase in volume and 28.5% increase in Infrastructure Segment revenue on QoQ basis. Revenue (INR Mn) 603 This growth is attributed to the overall highway constructi
Slide 7: Quarterly Key Segment Performance – Consumer & Steel
QUARTERLY KEY SEGMENT PERFORMANCE – Consumer & Steel CONSUMER SEGMENT Consumer Segment Revenue (INR Mn) 114 109 Sales are consistent on QoQ basis. We have achieved 150% YoY increase in volume from rubber mats, brake pads, and other consumer applications. 54 The consumer segment particularly the turf
Slide 8: FY24 Performance – Standalone and Consolidated
FY24 PERFORMANCE - Standalone Revenue from Operation EBITDA (INR Mn) & EBITDA PAT (INR Mn) & PAT Volume (In MT) 60.00% 800 60.00% 700 (INR Mn) Margin(%) 614 700 Margin(%) 3,641 50.00% 50.00% 600 600 99,280 2,954 40.00% 500 40.00% 500 368 379 400 73,395 30.00% 400 30.00% 300 20.00% 300 20.00% 213 200
Slide 9: Q4/FY24 Key Operational Highlights
Q4/FY24-FY24 KEY OPERATIONAL HIGHLIGHTS OPERATIONS Tyre crushing volume has increased by 30% YoY. The impact of the Red Sea has increased input costs by 10% during the year. TRIL has invested in solar energy and announced plans to set up a solar plant with a capacity of 1.2 MW. This plant will gener
Slide 10: Other Developments During the Financial Year
OTHER DEVELOPMENTS DURING THE FINANCIAL YEAR Tinna has successfully achieved IATF certification for its Wada and Gummidipoondi units. Our infrastructure business was featured by Eco India under the segment "How can India deal with its mounting tyre waste“ . To watch click :- https://youtu.be/YrcQu4b
Slide 11: Company Overview
COMPANY OVERVIEW Founded in 1977, the company has become a ONE OF THE LARGEST pioneer in recycling of End of Life Tyres in most Recycler of "End of Life Tyres" in Asia efficient and environment-friendly manner. FIRST TO MARKET & LARGEST PLAYER Our eco-friendly practices result in Zero Waste, For Rub
Slide 12: Journey So Far
JOURNEY SO FAR Group founded by Introduced light Commenced export Pioneered the Largest CRMB Set up waste Tyre Became the Completed Mr.Bhupinder Kumar weight rubber of Thermo Plastic concept of producer & entered recycling plant at largest acquisition of Sekhri. slippers Rubber Compounds rubberised
Slide 13: Waste ELT to Waste Wealth
WASTEELTTO: WASTE WEALTHTO WEALT 400%VALUE ADDITION TO WASTE 12
Slide 14: Segment Wise Revenue Sharing Ratio for FY 2024
SEGMENT WISE REVENUE SHARING RATIO FOR FY 2024 INFRASTRUCTURE INDUSTRIAL STEEL CONSUMER 52% 25% 13% 10% Roads Bitumen Roads Conveyor Belts Steel Abrasives Crumb Gym Tiles Rubber Infill Tyres Steel Scraps Automotive Rubber parts Mats 13
Slide 15: Manufacturing Facilities
MANUFACTURING FACILITIES Source of End of life tyres (Overseas) Panipat Manufacturing facilities Europe (Haryana) Mathura Delhi (Uttar Pradesh) USA Middle Eastern Countries (Headquarters) INDIA OMAN Saham (Al Batnah) Haldia (West Bengal) Varle | Wada South Africa Australlia (Maharashtra) Chile Gummi
Slide 16: Board of Directors
BOARD OF DIRECTORS Mr. Bhupinder Kumar Sekhri Mr. Gaurav Sekhri Mr. Subodh Kumar Sharma Mrs.Bharati Chaturvedi Chairman & Managing Joint Managing Director & Chief Independent Director Director Operating Officer Director Mr. Sanjay Jain Mr. Vaibhav Dange Dr. Krishna Prapoorna Biligiri Independent Ind
Slide 17: Segment Wise Sales and Growth Drivers
SEGMENT WISE SALES AND GROWTH DRIVERS 16
Slide 18: Infrastructure Segment – Product & Sales
INFRASTRUCTURE SEGMENT – PRODUCT & SALES CRUMB RUBBER/ CRUMB RUBBER MODIFIER BITUMEN EMULSION Blend of waste tire rubber, hydrocarbons, Manufactures all grades of Cationic Bitumen and cross-linkers. Emulsions meeting BIS standards. Mixed with bitumen in specific ratios State-of-the-art manufacturing
Slide 19: Infrastructure Segment TAM/Growth Drivers
INFRASTRUCTURE SEGMENT TAM/GROWTH DRIVERS ADDRESSABLE MARKET New Road Construction Speed: 39 kms Per Day POTENTIAL FOR GROWTH Current Modified Bitumen Market: 1,50,000 to 2,00,00 MT (2% of total Bitumen Market) 5X OVER NEXT 2-3 YEARS Potential Market for CRMB: 1 million MT Total Bitumen Market: 8.8
Slide 20: Industrial Segment – Product & Sales
INDUSTRIAL SEGMENT – PRODUCT & SALES MICRONIZED RUBBER POWDER (80-140 MESH) Industrial Segment Sales (In INR Mn) 922 Tinna is one of the world's largest MRP producers. 813 683 Utilizes a indigenously developed Ambient Grinding 491 Process for production. With matured application in tyre/conveyor bel
Slide 21: Industrial Segment TAM/Growth Drivers
INDUSTRIAL SEGMENT TAM/GROWTH DRIVERS INDIAN TYRE INDUSTRY Opportunities for Recycled A vital part of Auto Sector, contributes to 3% of India's manufacturing GDP and 0.5% of the Rubber Materials in the Tyre Sector total GDP directly. In 2020, the Indian tyre market reached 177 million units. Expecte
Slide 22: Consumer Segment – Product & Sales
CONSUMER SEGMENT – PRODUCT & SALES Consumer Segment Sales (In INR Mn) COATED RUBBER Crumb (CRC) 367 Coated Rubber Crumb (CRC) replaces virgin rubber compound. Manufactured by treating Crumb Rubber with a 216 215 proprietary mix of chemicals. 168 Ideally suited for low tensile compounds, solid tyres,
Slide 23: Consumer Segment TAM/Growth Drivers
CONSUMER SEGMENT TAM/GROWTH DRIVERS SPORTS TURF RUBBER MATS/RUBBER TILES Sport and playground surfaces to consume a higher Floor mats application segment quantity of crumb rubber due to minimal buffing, using expected to grow rapidly in the forecast Opportunities for Recycled Rubber Material over 30
Slide 24: Strategic Action Plan
STRATEGIC ACTION PLAN 23
Slide 25: Vision 2027
VISION 2027 VISION 2027 10 CURRENT 30% + Locations 6 27.6% ROCE Locations ROCE FY24 25% + 26% INR 364 Cr INR 900 Cr Revenue Revenues Revenues Revenue CAGR CAGR FY24 (Last 3 years) 138% 17.25% 33% + Profitability Growth EBITDA 18% (Last 3 years) Margin EBITDA Profitability FY24 Growth Margin OUR PRIO
Slide 26: Return on Capital Employed
RETURN ON CAPITAL EMPLOYED 27.6% Target ROCE 30% 22.24% 20.67% ROCE Catalyst 9.94% Growth in Value Added Product Supply Streamlining Working Capital 0.99% Enhanced Industry Dynamics FY20 FY21 FY22 FY23 FY24 25
Slide 27: Capacity Expansion
CAPACITY EXPANSION Tyre Crushing Capacity (MT) 2,50,000 2,00,000 1,50,000 2,50,000 MT PA 1,00,000 capacity planned by 80,000 FY 2027 72,000 FY22 FY23 FY24 FY25E FY26E FY27E Projected Value E Estimated 26
Slide 28: Project Initiated: Varle Plant
PROJECT INITIATED : FY 2024 VARLE PLANT – PROGRESS AND MILESTONES TRIL made a capex of IN 440 million to establish a state-of-the-art tyre recycling plant in Varle, Maharashtra. The plant has the capacity to recycle approximately 60,000 MT of passenger radial tyres annually. The plant was commission
Slide 29: Project Initiated: Oman Plant
PROJECT INITIATED : FY 2024 OMAN PLANT – PROGRESS AND MILESTONES TRIL has acquired its maiden overseas facility in Oman, investing USD 1.5 million, and named it Global Recycle LLC. Global Recycle is the largest operational waste tyre recycling facility in Oman, with a capacity to process 15,000 MT o
Slide 30: Project Initiated: Thermoplastic Elastomer Plant
PROJECT INITIATED : FY 2024 THERMOPLASTIC ELASTOMER PLANT – PROGRESS AND MILESTONES The plant is set up in the existing tyre recycling plant at Panipat. The plant was commissioned and made operational in March 2024. It serves as a pilot plant with a capacity to process 6,000 metric tons of plastic/r
Slide 31: Key Competitive Advantages
7 KEY COMPETITIVE ADVANTAGES Exceptional Product Customization and widest possible application of recycled rubber Diversified Customer network Deep Routed procurement network Strategically Well-Placed Manufacturing Facilities at Port locations World's Largest manufacturer of Micronized Rubber Powder
Slide 32: Moats – Securing Our Leadership
7 MOATS-SECURING OUR LEADERSHIP Pan India Presence Diversified Product Sector Agnostic Applications Applications 45 + Long-standing 45+ years Exceptional Product of industry experience Customization Multinational OEM Approvals Procurement Network 31
Slide 33: Financial Performance
FINANCIAL PERFORMANCE For details, refer Financial Reports section 32
Slide 34: Quarterly Consolidated Financial Performance
QUARTERLY CONSOLIDATED FINANCIAL PERFORMANCE Particulars (INR Mn) Q4 – FY24 Q4-FY23 Y-o-Y Q3 – FY24 Q-o-Q Operational Income 1,099 727 51.2% 930 18.2% Total Expenses 874 653 33.8% 774 12.9% EBITDA 225 74 NA 156 44.2% EBITDA Margins (%) 20.47% 10.18% NA 16.77% 370 Bps Other Income 5 33 (84.8)% 2 NA D
Slide 35: Yearly Consolidated Financial Performance
YEARLY CONSOLIDATED FINANCIAL PERFORMANCE Particulars (INR Mn) FY24 FY23 Y-o-Y Operational Income 3,630 2,954 22.88% Total Expenses 3,004 2,587 16.12% EBITDA 626 367 70.57% EBITDA Margins (%) 17.25% 12.42% 483 Bps Other Income 13 61 (78.69)% Depreciation 64 71 (9.86)% Interest 70 76 (7.89)% Share of
Slide 36: Historical Consolidated Income Statement
HISTORICAL CONSOLIDATED INCOME STATEMENT Particulars (INR Mn) FY21 FY22 FY23 FY24 Operational Income 1,301 2,292 2,954 3,630 Total Expenses 1,127 1,923 2,587 3,004 EBITDA 174 369 367 626 EBITDA Margins (%) 13.37% 16.10% 12.42% 17.25% Other Income 17 34 61 13 Depreciation 79 86 71 64 Interest 96 90 7
Slide 37: Historical Consolidated Balance Sheet
HISTORICAL CONSOLIDATED BALANCE SHEET Particulars (INR Mn) FY22 FY23 FY24 Particulars (INR Mn) FY22 FY23 FY24 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant & Equipment 696 676 1,232 Share Capital 86 86 171 Capital WIP 6 3 66 Other Equity 688 874 1,107 Right of use Assets 18
Slide 38: Historical Financial Performance Charts – P&L Statement
HISTORICAL FINANCIAL PERFORMANCE CHARTS–P&L STATEMENT Revenue From Operations EBITDA (INR Mn) & EBITDA Margins (%) (INR Mn) 3,630 2,954 626 2,292 369 367 1,301 174 16.10% 17.25% 13.37% 12.42% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 EBITDA Percentage PAT and Cash Profit (INR Mn) Diluted EPS (INR) 467
Slide 39: Historical Financial Performance Charts – Balance Sheet
HISTORICAL FINANCIAL PERFORMANCE CHARTS-BALANCE SHEET Net D/E (x) ROE (x) 0.96 0.86 31.56% 21.81% 0.66 0.59 23.65% -0.15% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Fixed Asset Turnover (x) Debt (INR Mn) & Interest Coverage Ratio (x) 900 848 9 4.3 800 8.53 8 660 690 587 3.7 700 7 3.4 600 6 4.7 500 5 3.
Slide 40: Capital Market Data
CAPITAL MARKET DATA 1 Year Share Price Performance 350% 300% 250% 200% 150% 100% 50% 0% -50% Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Tinna Rubbers & Infra Ltd BSE Price Data (As on 31st March, 2024) Shareholding Pattern (As on 31th March 2024) Face Value (
Slide 41: A Holistic Approach to Business: ESG
A HOLISTIC APPROACH TO BUSINESS: ENVIRONMENT, SOCIAL, AND CORPORATE GOVERNANCE 40
Slide 42: Modern Recycling and Recovery for Sustainable Gains
MODERN RECYCLING AND RECOVERY FOR SUSTAINABLE GAINS CIRCULAR ECONOMY TRIL business is a prime example of success of circular 6 6 MAKE economy model which involves utilizing existing materials and Recycling Plants MILLION tyres products efficiently through recycling and reusing. back in circular REUS
Slide 43: Building a Better World
BUILDING A BETTER WORLD REVOLUTIONARY INDUSTRY: ACHIEVING 400% VALUE ADDITION TO WASTE CSR INITIATIVES CREATING AWARENESS We take pride in creating awareness We regularly organize medical checkup, blood donation, and hygiene about circular economy and awareness camps. Our CSR initiatives are mainly
Slide 44: Nurturing a Culture of Ethics, Accountability & Transparency
NURTURING A CULTURE OF ETHICS, ACCOUNTABILITY, & TRANSPARENCY Ethical Business Practices: Our Ongoing Efforts to Cultivate Trust Among Shareholders, Employees, Customers, Suppliers, and Stakeholders through Principles of Strong Corporate Governance, including Integrity, Equity, Transparency, Fairnes
Slide 45: TP Buildtech Pvt. Ltd – An Update
TP BUILDTECH PVT. LTD – AN UPDATE COMPANY OVERVIEW STRENGTHS Established in 2012, specializing in Concrete Waterproofing Admixture, Cement Strong presence in Western India. In FY25 ,building Admixture, Superplasticizer Admixture, etc. business in Northern and Eastern India. Manufacturing units in Wa
Slide 46: Financial Performance – Sale and EBITDA
FINANCIAL PERFORMANCE SALE AND EBITDA 6,402 7,000 6,083 6,000 Amount in Lakhs 4,682 5,000 14% EBITDA 4,000 9% 2,799 7% doubled in 3,000 FY24 3% 2,000 924 435 412 1,000 91 0 FY20-21 FY21-22 FY22-23 FY23-24 Sale (INR) EBITDA (INR) EBITDA % Increase 45
Slide 47: Thank You
Lowceeee Caring for Environment THANK YOU 46
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