Grasim Industries Ltd. · NSE:GRASIM
Grasim Industries — Q3 FY2022 Earnings Presentation
36 slides from Grasim Industries's earnings presentation, Feb 14, 2022
Slide 1: Presentation on Unaudited Financial Results cover letter
AD1 BIRLA RAI& GRASIM Ref No.: GIL/CFD/SEC/22/157/SE 14th February 2022 BSE Limited The National Stock Exchange of India Limited Dalai Street, Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No. C/1, G Block, Bandra-Kurla Complex, Fort, Mumbai - 400 001 Bandra (East), Mumbai 400051 Scrip
Slide 2: Q3FY22 Earnings Presentation
ADITYA BIRLA Zo : aa a ai: / GRASIM INDUSTRIES LIMITED J Q3FY22 EARNINGS PRESENTATION 14" February 2022
Slide 3: Big in Your Life
BIG IN YOUR LIFE # 1 In Viscose @ # 1 In Chlor - Alkali* # 1 In Advanced Material* 57.28% 54.19% Market Cap (February 11th, 2022): INR 1,12,587 Crore (USD 14.96 Billion) Market Cap Market Cap (February 11th, 2022): (February 11th, 2022): INR 2.11 Lakh Crore INR 28,294 Crore (USD 28.09 Billion) (USD
Slide 4: Performance Highlights Q3FY22
PERFORMANCE HIGHLIGHTS Q3FY22 Grasim Industries Limited | Earnings Presentation | Q3 FY22 | 3
Slide 5: Performance Highlights Q3FY22
Financial Overview Business Performance Sustainability Appendix PERFORMANCE HIGHLIGHTS Q3FY22 Operational Performance Standalone revenue up 56% YoY to Rs.5,785 Cr. and EBITDA up 36% YoY to Rs.963 Cr. Chemical business reported strong performance with EBITDA of Rs.528 Cr. on back of better volumes an
Slide 6: Performance Highlights Q3FY22 Standalone Consolidated
Financial Overview Business Performance Sustainability Appendix PERFORMANCE HIGHLIGHTS Q3FY22 Standalone Revenue (Rs. Cr.) EBITDA (Rs. Cr.) PAT (Rs. Cr.) 36% 46% 56% YoY 1,504 YoY YoY 5,785 979 4,933 963 3,697 708 863 358 522 641* Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 Consol
Slide 7: Strong Balance Sheet
Financial Overview Business Performance Sustainability Appendix STRONG BALANCE SHEET Standalone (Rs. Cr.) Consolidated (Rs. Cr.) Net Debt/ EBITDA Net Debt/ EBITDA 0.33x 0.49x (Annualised 12M EBITDA) (Annualised 12M EBITDA) 4,672 Sep-21 16,729 Sep-21 Rs.1,158 Cr. Rs.8,780 Cr. Increased by Increased b
Slide 8: Capex Plan
Financial Overview Business Performance Sustainability Appendix CAPEX PLAN Capex Balance COMMISSIONED YTD FY22 Particulars (Rs. Cr.) spent Approved • Vilayat VSF Expansion 300TPD (Phase-1): Q3FY22 9MFY22 Capex for FY22 • Vilayat VSF Expansion 300TPD (Phase-2): Feb-22 Viscose Staple Fibre • Chemicals
Slide 9: Strategic Initiatives
Financial Overview Business Performance Sustainability Appendix STRATEGIC INITIATIVES Commissioned Hybrid Renewable capacity at Karwar (11.4 Mw) and at Vilayat (17 Mw), Business to increase the share of green energy and reduce carbon emission 10 Executing various renewable power project of ~30 Mw at
Slide 10: Business Performance
BUSINESS PERFORMANCE Grasim Industries Limited | Earnings Presentation | Q3 FY22 | 9
Slide 11: Industry Performance - Viscose
Financial Overview Business Performance Sustainability Appendix INDUSTRY PERFORMANCE - VISCOSE The VSF demand remained strong on back of uptick in the demand for textile products in US and Europe. The textile value chain off-late has been concerned with the spread omicron of which may have a margina
Slide 12: Industry Performance - Viscose
Financial Overview Business Performance Sustainability Appendix INDUSTRY PERFORMANCE - VISCOSE China VSF prices remained strong at the start of the quarter but weakened towards the end of Dec-21 owing to spread of Omicron. VSF prices averaged higher ~13,637 RMB in Q3FY22 from ~12,790 RMB in Q2FY22 C
Slide 13: Financial Performance - Viscose
Financial Overview Business Performance Sustainability Appendix FINANCIAL PERFORMANCE - VISCOSE VSF Sales (KT) Sales Volume Mix 11% 2% Export Sales Grey VSF YoY QoQ 157 154 9% 71% 142 91% 29% Q3FY21 Q2FY22 Q3FY22 Domestic Sales VAP VFY Sales (KT) Vilayat brownfield expansion of 300TPD contributed 11
Slide 14: Financial Performance - Viscose
Financial Overview Business Performance Sustainability Appendix FINANCIAL PERFORMANCE - VISCOSE Revenue1 (Rs. Cr.) EBITDA1 (Rs. Cr.) 55% 11% YoY QoQ 580 3,335 482 3,005 401 2,145 Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 VSF business reported a robust operational performance , production ramp up com
Slide 15: LIVA
Financial Overview Business Performance Sustainability Appendix LIVA Tags (In mn) Tags (In mn) AW – Autumn Winter SS – Spring Summer 27.3 28.5 24.2 22.7 19.4 18.4 17.5 17.7 12.6 11 8.5 7 2.05 1.84 AW'15 AW'16 AW'17 AW'18 AW'19 AW'20 AW'21 SS'15 SS'16 SS'17 SS'18 SS'19 SS'20 SS'21 LIVA entered the di
Slide 16: Financial Performance - Chemicals
Financial Overview Business Performance Sustainability Appendix FINANCIAL PERFORMANCE - CHEMICALS Caustic Realisation Grasim – ECU 54,198 52,000 46,000 46,000 41,000 42,360 40,000 43,706 36,000 34,000 31,185 25,215 31,000 28,000 24,775 21,584 20,119 25,649 26,108 22,000 19,745 26,000 22,781 22,760 2
Slide 17: Caustic - Key Operational Metrics
Financial Overview Business Performance Sustainability Appendix CAUSTIC – KEY OPERATIONAL METRICS Caustic Soda Sales (KT) Chlorine & HCl Consumption in VAP (Tons) 8% 10% 12% 18% YoY QoQ 279 YoY QoQ 74,514 258 254 66,239 62,965 Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 The capacity utilization of Cau
Slide 18: Financial Performance - Chemicals
Financial Overview Business Performance Sustainability Appendix FINANCIAL PERFORMANCE - CHEMICALS Revenue (Rs. Cr.) EBITDA (Rs. Cr.) 44% 127% 528 83% QoQ 198% QoQ YoY 2,338 YoY 1,627 1,281 232 177 Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 Chlor-Alkali business reported one of the best quarterly perf
Slide 19: Financial Performance - Other Businesses
Financial Overview Business Performance Sustainability Appendix FINANCIAL PERFORMANCE – OTHER BUSINESSES Textile Insulators Revenue (Rs. Cr.) Revenue (Rs. Cr.) 103 479 409 85 87 288 Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 EBITDA (Rs. Cr.) EBITDA (Rs. Cr.) 51 13 37 (4) (2) (7) Q3FY21 Q2FY22 Q3FY22
Slide 20: Financial Performance - UltraTech
Financial Overview Business Performance Sustainability Appendix FINANCIAL PERFORMANCE – UltraTech Sales volume (Million Ton) Revenue (Rs. Cr.) EBITDA (Rs. Cr.) 23.88 12,985 3,362 23.13 12,262 2,490 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Consolidated revenue up by 6% YoY to Rs.12,985 Cr., Consolid
Slide 21: Financial Performance - ABCL
Financial Overview Business Performance Sustainability Appendix FINANCIAL PERFORMANCE – ABCL Lending Book (Rs. Cr.)* AMC Domestic AAUM (Rs. Cr.) 7% 61,411 17% YoY YoY 2,98,763 57,522 2,55,458 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Consolidated revenue and net profit after minority interest for Q3FY22 are up 13
Slide 22: Financial Performance - Aditya Birla Renewables
Financial Overview Business Performance Sustainability Appendix FINANCIAL PERFORMANCE – Aditya Birla Renewables Aditya Birla Renewables (Solar Power) Solar Power Capacity (MWp) Rs. Cr. Particulars Q3FY21 Q2FY22 Q3FY22 563 Revenue 45 49 56 EBITDA 35 42 43 502 EBIT 24 28 28 Capital Employed (Incl. 1,7
Slide 23: Financial Performance - Pulp JVs
Financial Overview Business Performance Sustainability Appendix FINANCIAL PERFORMANCE – PULP JV’s Revenue (Rs. Cr.) EBITDA (Rs. Cr.) 1,401 1,272 195 1,087 0.17 (34) Q3FY21 Q2FY22 Q3FY22 Q3FY21 Q2FY22 Q3FY22 Production Volume (Tons) Sales Volume (Tons) 2,00,611 2,24,986 1,72,650 1,50,973 1,71,255 1,4
Slide 24: Sustainability Performance
Sustainability Performance Grasim Industries Limited | Earnings Presentation | Q3 FY22 | 23
Slide 25: Sustainability Highlights
Financial Overview Business Performance Sustainability Appendix SUSTAINABILITY HIGHLIGHTS VSF business has taken target to achieve Net Zero Carbon emissions across all its operations by 2040 Grasim received Gold Shield award for Integrated reporting and “Excellence in Financial Reporting” by Institu
Slide 26: Appendix
APPENDIX Grasim Industries Limited | Earnings Presentation | Q3 FY22 | 25
Slide 27: Consolidated Income Statement
Financial Overview Business Performance Sustainability Appendix CONSOLIDATED INCOME STATEMENT Quarterly Year to Date Particulars (Rs. Cr.) Q3FY22 Q3FY21 9MFY22 9MFY21 Revenue from Operations 24,402 21,000 66,890 51,999 Other Income 122 341 641 921 EBITDA 4,107 4,476 13,126 10,624 EBITDA Margin (%) 1
Slide 28: Standalone Income Statement
Financial Overview Business Performance Sustainability Appendix STANDALONE INCOME STATEMENT Quarterly Year to Date Particulars (Rs. Cr.) Q3FY22 Q3FY21 9MFY22 9MFY21 Revenue from Operations 5,785 3,697 14,480 7,992 Other Income 41 64 808 445 EBITDA 963 708 3,271 1,198 EBITDA Margin (%) 17% 19% 21% 14
Slide 29: Balance Sheet
Financial Overview Business Performance Sustainability Appendix BALANCE SHEET Standalone (Rs. Cr.) Consolidated (Rs. Cr.) 31st Dec'21 31st March'21 EQUITY & LIABILITIES 31st Dec'21 31st March'21 48,221 42,948 Net Worth 73,542 65,494 - - Non Controlling Interest 39,165 37,068 - - Borrowings related t
Slide 30: Viscose Business Summary
Financial Overview Business Performance Sustainability Appendix VISCOSE BUSINESS SUMMARY Quarterly Year to Date Particulars % Change % Change Q3FY22 Q3FY21 9MFY22 9MFY21 Capacity VSF KTPA 701 566 24 701 566 24 VFY KTPA 48 46 4 48 46 4 Production VSF KT 167 144 16 446 309 44 VFY KT 11 9 22 32 15 113
Slide 31: Chemical Business Summary
Financial Overview Business Performance Sustainability Appendix CHEMICAL BUSINESS SUMMARY Quarterly Year to Date Particulars % Change % Change Q3FY22 Q3FY21 9MFY22 9MFY21 Capacity* KTPA 1,264 1,147 10 1,264 1,147 10 Production* KT 284 259 10 775 629 23 Sales Volume* KT 279 258 8 771 634 22 Revenue R
Slide 32: Grasim Group Structure
Financial Overview Business Performance Sustainability Appendix GRASIM GROUP STRUCTURE Grasim Industries Limited VSF - 701K TPA Caustic Soda - Textile^ Overseas UTCL (57.28%)** ABCL (54.19%)** VFY - 48K TPA 1264K TPA Pulp - 74K TPA Others Pulp & VSF JVs Subsidiary Subsidiary Epoxy – 123K TPA Nagda N
Slide 33: Forward Looking and Cautionary Statement
FORWARD LOOKING AND CAUTIONARY STATEMENT Certain statements in this report may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to t
Slide 34: Notes
NOTES Grasim Industries Limited | Earnings Presentation | Q3 FY22 | 33
Slide 35: Glossary
GLOSSARY Abbreviation Particulars AAUM Average Asset Under Management ECU Electro Chemical Unit Epoxy Name of Chemical FY Financial Year KTPA Thousand Ton per annum MTPA Million Ton per annum NBFC Non Banking Financial Company PMT Per Metric Ton ROAvCE Return on Average Capital Employed TPD Ton per
Slide 36: Thank you
Thank you Grasim Industries Ltd. Aditya Birla Centre 'A' Wing, 2nd Floor ,S.K. Ahire Marg ,Worli Mumbai 400 030 ,India Investor Relations Team Email: saket.sah@adityabirla.com sheetal.daga@adityabirla.com