Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q1 FY23 Earnings Presentation
29 slides from Ifgl Refractories's earnings presentation, Aug 14, 2022
Slide 1: Regulation 30 disclosure cover letter
14th August, 2022 National Stock Exchange of India Ltd BSE Limited 'Exchange Plaza', C-1, Block-G Phiroze Jeejeebhoy Towers Bandra - Kurla Complex Dalal Street Bandra (E), Mumbai 400 051 Mumbai 400 001 CODE: IFGLEXPOR CODE: 540774 Dear Sirs, Re: Disclosure under Regulation 30 of SEBI (Listing Obliga
Slide 2: Investor Presentation – Q1FY23
OUR TECHNOLOGY. YOUR SUCCESS. IFGL Refractories Limited Investor Presentation – Q1FY23 August 2022
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited, solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or b
Slide 4: Our Performance
Our Performance
Slide 5: Q1FY23 Performance Snapshot
Q1FY23 Performance Snapshot Standalone & Consolidated Performance Standalone Consolidated Rs. 225.7 Crores Rs. 359.8 Crores Total Income Total Income Standalone Consolidated Rs. 28.5 Crores Rs. 34.5 Crores EBITDA EBITDA Standalone Consolidated Rs. 12.0 Crores Rs. 14.6 Crores PAT PAT 4
Slide 6: Q1FY23 Standalone Financial Highlights
Q1FY23 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +38% +3% 225.7 28.5 17.0% 27.7 163.2 12.6% Q1FY22 Q1FY23 Q1FY22 Q1FY23 Q1FY22 Q1FY23 Profit After Tax [Rs. Crs.] PAT margin [%] -11% 8.2% 13.4 12.0 5.3% Q1FY22 Q1FY23 Q1FY22 Q1FY23 5
Slide 7: Q1FY23 Standalone Profit & Loss
Q1FY23 Standalone Profit & Loss Profit & Loss [Rs. Crs.] Q1FY23 Q1FY22 Y-o-Y% Q4FY22 Q-o-Q% FY22 Total Income 225.7 163.2 38% 240.1 -6% 801.4 Raw Material 125.4 79.5 124.8 395.5 Employee Expenses 15.1 13.8 13.0 56.1 Other Expenses 56.7 42.2 68.2 218.4 EBITDA 28.5 27.7 3% 34.2 -17% 131.3 EBITDA Margi
Slide 8: Q1FY23 Consolidated Financial Highlights
Q1FY23 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +30% -3% 359.8 35.7 12.9% 34.5 277.8 9.6% Q1FY22 Q1FY23 Q1FY22 Q1FY23 Q1FY22 Q1FY23 Profit After Tax [Rs. Crs.] PAT margin [%] -19% 6.4% 17.9 14.6 4.0% Q1FY22 Q1FY23 Q1FY22 Q1FY23 7
Slide 9: Q1FY23 Consolidated Profit & Loss
Q1FY23 Consolidated Profit & Loss Profit & Loss [Rs. Crs.] Q1FY23 Q1FY22 Y-o-Y% Q4FY22 Q-o-Q% FY22 Total Income 359.8 277.8 30% 366.6 -2% 1,275.4 Raw Material 191.8 131.7 181.4 614.6 Employee Expenses 46.9 42.3 43.1 173.9 Other Expenses 86.6 68.1 99.5 328.4 EBITDA 34.5 35.7 -3% 42.7 -19% 158.5 EBITD
Slide 10: Capex – Capacity expansion & other improvements
Capex – Capacity expansion & other improvements ➢ ~Rs. 50 Cr in FY23 & FY24 (including Research & 1 IFGL Odisha Plant Technology Centre at Kalunga, Odisha for an estimated cost of Rs.20 crores) 2 IFGL Kandla Plant ➢ Rs. 44 Cr in FY23 & FY24 Visakhapatnam 3 Project ➢ Rs. 65 Cr by FY23 & FY24 Capex to
Slide 11: Research & Technology Centre at Kalunga, Odisha
Research & Technology Centre at Kalunga, Odisha Building a Research & Technology Centre at our existing plant in Kalunga, Odisha for an estimated cost of Rs. 20 crores. This is likely to be operational in the year 2023. 10
Slide 12: Consistently performing over the years…
Consistently performing over the years… Particulars [Rs. Crs.] FY18 FY19 FY20 FY21 FY22 Total Income 839.7 955.4 928.3 1,042.5 1,275.4 Materials consumed 421.4 477.0 459.1 474.0 614.6 Employee Expenses 126.7 146.2 150.5 151.8 173.9 Other Expenses 181.3 218.5 216.2 240.8 328.4 EBITDA 110.3 113.8 102.
Slide 13: …to create sustainable value for Shareholders…
…to create sustainable value for Shareholders… Total Debt (Rs. Crs.) Cash & Equivalents (Rs. Crs.) Net Debt (Rs. Crs.) FY19 FY20 FY21 FY22 Q1FY23 FY19 FY20 FY21 FY22 Q1FY23 FY19 FY20 FY21 FY22 Q1FY23 105.0 321.9 89.4 87.1 262.7 204.5 234.1 52.0 51.6 134.2 -44.8 -152.4 -129.1 -175.6 -270.3 Net Debt :
Slide 14: …with consistent Payout
…with consistent Payout 100.0% 70.0% 25.0% 25.0% 20.0% 20.0% 20.0% FY16 FY17 FY18 FY19 FY20 FY21 FY22 Particulars (Rs.) FY16 FY17 FY18 FY19 FY20 FY21 # FY22 Consolidated Book Value Per Share 111.7 189.9 208.7 220.5 224.5 247.1 259.2 Consolidated Earning Per Share 12.1 13.9 13.1 14.0 11.1* 23.8* 21.5
Slide 15: Industry Overview
Industry Overview
Slide 16: Global Steel Demand Outlook
Global Steel Demand Outlook In MT World World (Ex China) Developing economies (Ex China) +1.3% +2.1% +2.5% 1,834 1,840 1,881 882 888 920 482 484 506 2021 2022F 2023F 2021 2022F 2023F 2021 2022F 2023F ➢ Global outlook: ▪ As per WSA, the current forecast assumes that steel demand will grow by 0.4% in
Slide 17: Forecasted Global Short-Term Steel Demand
Forecasted Global Short-Term Steel Demand In MT 2021 2022F 2023F +1.3% 1,881 1,834 1,840 +1.5% 1,313 1,337 1,298 +1.3% +2.8% 164 162 168 137 141 145 -0.4% +4.7% +3.5% -12.2% +4.3% 51 49 50 44 48 50 52 59 45 45 40 42 37 39 41 USMCA Central & EU Other Europe Africa Middle East CIS + Ukraine Asia & Oce
Slide 18: Top 5 Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2021 2022F 2023F +0.5% 952.0 952.0 961.6 +6.7% +2.5% 120.9 106.1 114.1 97.1 99.8 102.1 +1.1% +1.1% 57.5 58.2 58.8 55.6 56.2 56.8 China India United States Japan South Korea Source: World Steel Association - Short Range Outlook April 2022 17
Slide 19: National Infrastructure Pipeline (NIP) Project
National Infrastructure Pipeline (NIP) Project National Infrastructure Pipeline Project (NIP) Government unveiled the multimillion-dollar National Infrastructure Pipeline (NIP), with projects spread across 18 Investment allocation under NIP states over the next five years Others, 28% Energy, 24% $5
Slide 20: Domestic Steel Industry on a strong footing in the long term
Domestic Steel Industry on a strong footing in the long term India is now the world's second largest steel producer, surpassing Japan 1 Target of 300 MT* of production capacity by 2 2030 (National Steel Policy, 2017) Strong recovery in all sectors especially in steel consuming sectors of Real Estate
Slide 21: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Anti-Dumping Duty policy promotes fair trade and reduces the ill effects of dumping, on the Domestic Industry Infrastructure Huge export development and opportunity for India demand from the due to its low cost various sectors advantage Active local investment
Slide 22: About Refractories
About Refractories What are Refractories Refractories are material having high melting points, with properties that make them suitable to act as heat- resisting barriers between high and low temperature zones. Refractories are inorganic nonmetallic material which can withstand high temperature witho
Slide 23: About Us
About Us
Slide 24: A Global MNC…
A Global MNC… Monocon , UK Hofmann Ceramic, Mono Ceramics Inc Germany Michigan, US Tianjin Monocon Tianjin, China EI Ceramics, Cincinnati, US IFGL, Kandla SEZ 23
Slide 25: Corporate Structure… …simplified to create value for shareholders
Corporate Structure… IFGL Refractories Limited 3.604 Cr Equity Shares with a Face Value of Rs. 10 each 100% IFGL Worldwide Holdings Limited Plants at Kalunga, Odisha, India + Plant at Kandla SEZ, Gujarat, India 100% 100% 100% + Plant at Visakhapatnam, Andhra Hofmann Monocon Group Ceramic EI Ceramics
Slide 26: …with proven management…
…with proven management… Mr. S.K. Bajoria Mr. James McIntosh Mr. Kamal Sarda Chairman Managing Director Director & Chief Executive Officer • Promoter of S K Bajoria Group based at • Fellow Member of ICAI and a law graduate with Kolkata engaged in diversified business • Holder of Masters Degree in Te
Slide 27: …serving the specialized refractory segment…
…serving the specialized refractory segment… Isostatic Refractories Slide Gate Refractories & Systems Tube Changer Refractories & System Purging System & Refractories Cast Products & Zirconia Nozzles Foundry Ceramics 26
Slide 28: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry Our Technology. Your Success.
Slide 29: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mr. Rajesh Agarwal Mr. Shrenik Shah / Mr. Vatsal Shah rajesh.agarwal@ifgl.in shrenik.shah@sgapl.net / va