Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — DCM Shriram Consolidated — Q3 FY14 Earnings Presentation
26 slides from Dcm Shriram's earnings presentation, Feb 3, 2014
Slide 1: Q3 & 9M FY14 Results Presentation
DCM Shriram Consolidated Limited Q3 & 9M FY14 Results Presentation February 3, 2014
Slide 2: Safe Harbour
Safe Harbour Certain statements in this document may be forward-looking statements. 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 actu
Slide 3: Table of Content
Table of Content Title Slide No. Q3 FY14 Key Highlights 4 Q3 FY14 Financial Snapshot 5 Q3 FY14 Segment Performance 6 9M FY14 Financial Snapshot 7 9M FY14 Segment Performance 8 Q3 & 9M FY14 Performance Overview & Outlook 9-11 Management’s Message 12 Agri Input Businesses 14-17 Sugar 18 Hariyali Kisaa
Slide 4: Q3 FY14 – Financial Snapshot
Q3 FY14 – Financial Snapshot All figures in Rs. Crore Revenues EBIDTA Depreciation 1,453 1,500 1,343 160 40 37 140 35 140 1,200 112 120 30 900 100 80 20 600 60 40 10 300 20 - - - Q3 FY13 Q3 FY14 Q3 FY13 Q3 FY14 Q3 FY13 Q3 FY14 Finance Costs PBIT (before exceptional items) PAT (post exceptional items
Slide 5: Q3 FY14 – Key Highlights
Q3 FY14 – Key Highlights 1. Net Revenues higher by 8% at Rs. 1,452.2 driven primarily by Fertiliser, Bioseed and Chloro-Vinyl 2. PBIT (excl. Sugar) at Rs. 107.4 crore vs. Rs. 77.6 crore : a) Higher research and market development spends reflected in Bioseed’s earnings in India. Top-line and earnings
Slide 6: Q3 FY14 - Segment Performance
Q3 FY14 - Segment Performance * Rs. crore Revenues* PBIT*# PBIT Margins % Segments Q3 FY13 Q3 FY14 % Q3 FY13 Q3 FY14 % Q3 FY13 Q3 FY14 Agri Input 496.5 580.2 16.8 (1.1) 12.6 -- (0.2) 2.2 - Fertilisers 102.6 169.7 65.4 (11.3) 5.2 -- (11.0) 3.1 - Shriram Farm Soln. 349.1 343.0 (1.7) 18.2 18.2 -- 5.2 5
Slide 7: 9M FY14 – Financial Snapshot
9M FY14 – Financial Snapshot All figures in Rs. Crore Revenues EBIDTA Depreciation 5,000 4,703 450 416 120 112 396 104 4,112 4,000 360 90 3,000 270 60 2,000 180 30 1,000 90 - - - 9M FY13 9M FY14 9M FY13 9M FY14 9M FY13 9M FY14 Finance Costs PBIT (before exceptional items) PAT* (post exceptional item
Slide 8: 9M FY14 - Segment Performance
9M FY14 - Segment Performance * Rs. crore Revenues* PBIT*# PBIT Margins % Segments 9M FY13 9M FY14 % 9M FY13 9M FY14 % 9M FY13 9M FY14 Agri Input 1,708.3 2312.6 35.4 81.5 114.3 40.4 4.8 4.9 - Fertilisers 381.1 458.6 20.3 3.5 15.0 324.4 0.9 3.3 - Shriram Farm Soln. 997.6 1,466.4 47.0 43.3 66.0 52.6 4
Slide 9: Q3 FY14 - Performance Overview & Outlook
Q3 FY14 - Performance Overview & Outlook Fertilisers • Higher production vis-à-vis last year as the Company, in Q3 FY13 had undertaken a maintenance shutdown for 22 days • The plant is currently operating at optimal capacity utilization • Earnings further impacted by high level of subsidy outstandin
Slide 10: Q3 FY14 - Performance Overview & Outlook
Q3 FY14 - Performance Overview & Outlook Bioseeds • Revenue growth in Q3 driven by better performance of Corn hybrid seed in Philippines and Vietnam markets • International operations stabilizing • One time Sales returns in overseas operations in Q1 and Q2 going through quality testing phase, may in
Slide 11: Q3 FY14 - Performance Overview & Outlook
Q3 FY14 - Performance Overview & Outlook Chloro-Vinyl • Topline driven by higher volumes (15%) and realizations (20%) in PVC Resin; partly moderated due to ~1% decline in Chlor-Alkali realizations vis-à-vis Q3 FY13. However, over Q2 FY14, Chlor-Alkali realizations have improved by ~9% • Sustained co
Slide 12: Management’s Message
Management’s Message Commenting on the performance for the quarter, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: “We are glad to report a healthy performance across our Chloro-Vinyl and Agri-Input busine
Slide 13: Segmental Overview
Segmental Overview • Agri- Inputs – Fertilisers – Shriram Farm Solutions – Bioseeds Agri Businesses • Sugar • Chlor – Alkali • PVC Resin and Compounds Chloro-Vinyl Businesses • Calcium carbide • Power Hariyali Kisaan Bazaar Fenesta Building Systems Cement Textile DSCL Q3 & 9M FY14 Results Presentati
Slide 14: Agri-Input Businesses
AGRI- INPUT BUSINESSES The Agri input business contributed to ~40% of the total quarterly revenues of the Company. The Company continues to focus on these businesses given the huge opportunity in this area where the Company can capitalize on its long standing understanding of varied Agri businesses
Slide 15: Fertilisers (Urea)
Fertilisers (Urea) Operational Financial Sales Realizations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q3 FY14 99,985 16,967 169.7 5.2 Q3 FY13 73,738 13,889 102.6 (11.3) % Shift 35.6 22.2 65.4 -- 9M FY14 302,569 15,132 458.6 15.0 9M FY13 280,024 13,557 381.1 3.5 % Shift 8.1 11.6 20.
Slide 16: Shriram Farm Solutions
Shriram Farm Solutions Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q3 FY14 343.0 18.2 Q3 FY13 349.1 18.2 % Shift (1.7) -- 9M FY14 1,466.4 66.0 9M FY13 997.6 43.3 % Shift 47.0 52.6 a) The portfolio comprises value-added products such as Seeds, Pesticides, Soluble fertiliser, Micro-nutrients etc. al
Slide 17: Bioseed
Bioseed Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q3 FY14 67.4 (10.8) Q3 FY13 44.9 (7.9) % Shift 50.2 -- 9M FY14 387.6 33.4 9M FY13 329.6 34.7 % Shift 17.6 (3.8) a) Bioseed business is intensely research based and is uniquely diversified across key crops (Cotton, Corn, Paddy, Bajra and Vegetable
Slide 18: Sugar
Sugar Operational Financial Sales (Lac Qtl) Realizations Revenues PBIT Particulars Free Sugar Levy Sugar *(Rs./Qtl) (Rs. cr.) (Rs. cr.) * Free Sugar Q3 FY14 10.3 -- 2,948 337.9 (29.9) Q3 FY13 8.8 0.8 3,446 350.8 24.9 % Shift 16.3 -- (14.4) (3.7) -- 9M FY14 31.1 -- 3,054 1,054.6 (55.5) 9M FY13 25.2 2
Slide 19: Hariyali Kisaan Bazaar
Hariyali Kisaan Bazaar Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q3 FY14 112.1 1.7 Q3 FY13 110.5 (3.7) % Shift 1.4 -- 9M FY14 327.6 2.7 9M FY13 422.5 (34.0) % Shift (22.5) -- a) Topline and earnings performance in line with plan to arrest financial losses from HKB and improve overall company per
Slide 20: Chloro-Vinyl Businesses
CHLORO-VINYL BUSINESSES The Chloro-Vinyl business of the Company has highly integrated operations with multiple revenue streams and economical captive power generation facilities. Chlor-Alkali operations are at two locations (Kota – Rajasthan and Bharuch – Gujarat). Chloro-Vinyl operates with full c
Slide 21: Chlor-Alkali
Chlor-Alkali Operational Financial Sales Realizations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q3 FY14 65,689 26,699 190.0 68.4 Q3 FY13 64,322 27,070 190.3 72.5 % Shift 2.1 (1.4) -- (6.0) 9M FY14 191,456 24,720 512.2 164.7 9M FY13 179,068 27,067 527.1 181.8 % Shift 6.9 (8.7) (3.0)
Slide 22: Plastics
Plastics Operational Financials PVC PVC XWR Carbide Carbide XWR Revenues PBIT Particulars Sales Realizations Sales Realizations (Rs. cr.) (Rs. cr.) (MT) (Rs./MT) (MT) (Rs./MT) Q3 FY14 14,872 70,905 6,790 42,911 140.5 42.4 Q3 FY13 12,925 59,044 7,386 41,288 110.1 25.1 % Shift 15.1 20.1 (8.1) 3.9 27.6
Slide 23: Cement
Cement Operational Financial Sales Realizations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q3 FY14 87,669 2,596 30.5 (4.7) Q3 FY13 77,217 3,242 29.2 3.6 % Shift 13.5 (19.9) 4.6 -- 9M FY14 258,441 2,715 89.6 (3.5) 9M FY13 260,880 3,194 98.8 12.1 % Shift (0.9) (15.0) (9.3) -- a) The C
Slide 24: Other Businesses
OTHER BUSINESSES DSCL’s other operations, reported as ‘others’ in the financial results, include its businesses of Polymer Compounding, Fenesta Building Systems along with Textiles. Revenues under ‘others’ stood at Rs. 77.4 crore in the quarter under review compared to Rs. 72.1 crore in the correspo
Slide 25: Fenesta Building Systems
Fenesta Building Systems Operational Financial Revenues Particulars Order Book (nos.) (Rs. cr.) Q3 FY14 32,896 42.6 Q3 FY13 36,193 36.4 % Shift (9.1) 16.9 9M FY14 110,964 127.1 9M FY13 127,788 116.7 % Shift (13.2) 9.0 a) Fenesta with its diverse product line is regarded as a brand and product leader
Slide 26: About Us & Investor Contacts
About Us & Investor Contacts DSCL is an integrated business entity, with extensive and growing presence across the entire Agri- rural value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Fenesta and Bioseed. With a large base of c
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