Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — DCM Shriram Consolidated — H1 FY14 Earnings Presentation
27 slides from Dcm Shriram's earnings presentation, Oct 28, 2013
Slide 1: DCM Shriram Consolidated Limited Q2 & H1 FY14 Results Presentation
DCM Shriram Consolidated Limited Q2 & H1 FY14 Results Presentation October 28, 2013
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. Q2 FY14 Financial Snapshot 4 Q2 FY14 Key Highlights 5 Q2 FY14 Segment Performance 6 H1 FY14 Financial Snapshot 7 H1 FY14 Segment Performance 8 Q2 & H1 FY14 Performance Overview & Outlook 9-11 Balance Sheet Abstract 12 Management’s Message 13 Agri Input Businesses 15-
Slide 4: Q2 FY14 – Financial Snapshot
Q2 FY14 – Financial Snapshot All figures in Rs. Crore Revenues EBIDTA Depreciation 2,000 120 108 50 1,690 100 37 1,500 1,342 35 80 75 1,000 60 40 500 20 - - - Q2 FY13 Q2 FY14 Q2 FY13 Q2 FY14 Q2 FY13 Q2 FY14 Finance Costs PBIT (before exceptional items) PAT (post exceptional items) 50 80 71 40 39 40
Slide 5: Q2 FY14 – Key Highlights
Q2 FY14 – Key Highlights 1. Net Revenues higher by 25.9% at Rs. 1,689.9 driven primarily by ‘Shriram Farm Solutions’, up 88.2% at Rs. 659.8 crore 2. PBIT at Rs. 40.9 crore vs. Rs. 71.0 crore : a) Losses in Sugar business of Rs. 24.7 crore from a profit of Rs. 31.3 crore, a negative swing of Rs. 56 c
Slide 6: Q2 FY14 - Segment Performance
Q2 FY14 - Segment Performance * Rs. crore Revenues* PBIT* PBIT Margins % Segments Q2 FY13 Q2 FY14 % Q2 FY13 Q2 FY14 % Q2 FY13 Q2 FY14 Agri Input 524.8 836.2 59.3 (7.3) 0.3 -- (1.4) -- - Fertilisers 141.9 145.2 2.3 7.1 3.0 (58.0) 5.0 2.1 - Shriram Farm Soln. 350.6 659.8 88.2 10.1 19.3 90.6 2.9 2.9 -
Slide 7: H1 FY14 – Financial Snapshot
H1 FY14 – Financial Snapshot All figures in Rs. Crore Revenues EBIDTA Depreciation 3,500 3,251 300 276 277 100 3,000 2,769 250 80 75 69 2,500 200 2,000 60 150 1,500 40 100 1,000 50 20 500 - - - H1 FY13 H1 FY14 H1 FY13 H1 FY14 H1 FY13 H1 FY14 Finance Costs PBIT (before exceptional items) PAT* (post e
Slide 8: H1 FY14 - Segment Performance
H1 FY14 - Segment Performance * Rs. crore Revenues* PBIT* PBIT Margins % Segments H1 FY13 H1 FY14 % H1 FY13 H1 FY14 % H1 FY13 H1 FY14 Agri Input 1,211.7 1,732.5 43.0 82.5 94.6 14.6 6.8 5.5 - Fertilisers 278.5 288.9 3.7 14.9 9.8 (34.2) 5.4 3.4 - Shriram Farm Soln. 648.5 1,123.4 73.2 25.1 40.7 61.9 3.
Slide 9: Q2 & H1 FY14 - Performance Overview & Outlook
Q2 & H1 FY14 - Performance Overview & Outlook Fertilisers • Operating performance stable • Earnings reflect uncompensated cost increases due to non-finalization of New Urea pricing policy, partially mitigated on account of energy savings • High level of subsidy outstanding impacting the business Out
Slide 10: Q2 & H1 FY14 - Performance Overview & Outlook
Q2 & H1 FY14 - Performance Overview & Outlook Bioseeds • 12% revenue growth in H1 - driven by healthy performance in cotton and corn hybrids in Indian market • Growth moderated on account higher sales returns in Vietnam and Philippines markets • PBIT margins stable in domestic operations; however, s
Slide 11: Q2 & H1 FY14 - Performance Overview & Outlook
Q2 & H1 FY14 - Performance Overview & Outlook Chloro-Vinyl • Performance continues to be robust driven by: • Lower input costs primarily Power and Carbon Material have enabled healthy margins • Higher volumes and realization in Plastics (Vinyl); partly moderated due to lower Chlor-Alkali realization
Slide 12: Balance Sheet Abstract
Balance Sheet Abstract (Rs. in crores) AS AT AS AT PARTICULARS 30.09.2013 31.03.2013 Unaudited Audited A. EQUITY AND LIABILITIES 1 Shareholders' funds (a) Share Capital 33.34 33.34 (b) Reserves and Surplus 1,592.10 1,462.05 1,625.44 1,495.39 2 Minority Interest 0.96 - 3 Non-Current liabilities (a) L
Slide 13: 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: “The overall performance of the Company for the quarter was significantly affected due to
Slide 14: 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 Fenesta Building Systems Cement Textile Hariyali Kisaan Bazaar DSCL Q2 & H1 FY14 Results Presentati
Slide 15: Agri-Input Businesses
AGRI- INPUT BUSINESSES The Agri input business contributed to 49% 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 a
Slide 16: Fertilisers (Urea)
Fertilisers (Urea) Operational Financial Sales Realizations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q2 FY14 96,535 15,006 145.2 3.0 Q2 FY13 104,700 13,531 141.9 7.1 % Shift (7.8) 10.9 2.3 (58.0) H1 FY14 202,584 14,227 288.9 9.8 H1 FY13 206,287 13,442 278.5 14.9 % Shift (1.8) 5.8
Slide 17: Shriram Farm Solutions
Shriram Farm Solutions Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q2 FY14 659.8 19.3 Q2 FY13 350.6 10.1 % Shift 88.2 90.6 H1 FY14 1,123.4 40.7 H1 FY13 648.5 25.1 % Shift 73.2 61.9 a) The portfolio comprises value-added products such as Seeds, Pesticides, Soluble fertiliser, Micro-nutrients etc. a
Slide 18: Bioseed
Bioseed Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q2 FY14 31.2 (22.0) Q2 FY13 32.3 (24.5) % Shift (3.4) -- H1 FY14 320.2 44.1 H1 FY13 284.7 42.6 % Shift 12.5 3.7 a) Bioseed business is an intensely research based and uniquely diversified across key crops (Cotton, Corn, Paddy, Bajra and Vegetable
Slide 19: Sugar
Sugar Operational Financial Sales (Lac Qtl) Realizations Revenues PBIT Particulars Free Sugar Levy Sugar *(Rs./Qtl) (Rs. cr.) (Rs. cr.) * Free Sugar (FY 13) Q2 FY14 11.52 -- 3,064 378.4 (24.7) Q2 FY13 8.94 0.91 3,355 346.5 31.3 % Shift 28.9 -- (8.7) 9.2 -- H1 FY14 20.84 0.04 3,106 716.7 (25.7) H1 FY
Slide 20: Hariyali Kisaan Bazaar
Hariyali Kisaan Bazaar Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q2 FY14 93.7 1.2 Q2 FY13 98.6 (10.0) % Shift (5.0) -- H1 FY14 215.5 0.9 H1 FY13 312.0 (30.3) % Shift (30.9) -- a) Topline and earnings performance in line with plan to expeditiously arrest financial losses from Hariyali Kisaan Baza
Slide 21: 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. Chloro-Vinyl operations are at two locations (Kota – Rajasthan and Bharuch – Gujarat) with full captive coal based power
Slide 22: Chlor-Alkali
Chlor-Alkali Operational Financial Sales Realizations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q2 FY14 63,998 24,533 171.2 53.8 Q2 FY13 60,997 26,702 176.4 57.9 % Shift 4.9 (8.1) (2.9) (7.1) H1 FY14 125,768 23,516 322.3 96.3 H1 FY13 114,745 27,151 336.9 109.3 % Shift 9.6 (13.4) (4
Slide 23: Plastics
Plastics Operational Financials PVC PVC Carbide Carbide Revenues PBIT Particulars Sales Realizations Sales Realizations (Rs. cr.) (Rs. cr.) (MT) (Rs./MT) (MT) (Rs./MT) Q2 FY14 12,219 71,525 6,080 42,490 115.0 30.9 Q2 FY13 9,358 64,306 7,328 43,237 93.8 15.0 % Shift 30.6 11.2 (17.0) (1.7) 22.7 106.6
Slide 24: Cement
Cement Operational Financial Sales Realizations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q2 FY14 88,335 2,642 29.4 (1.3) Q2 FY13 83,519 3,351 32.0 2.1 % Shift 5.8 (21.2) (8.1) -- H1 FY14 170,773 2,776 59.1 1.2 H1 FY13 183,664 3,173 69.6 8.5 % Shift (7.0) (12.5) (15.1) (85.5) a) Th
Slide 25: 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. 75.3 crore in the quarter under review compared to Rs. 72.3 crore in the correspo
Slide 26: Fenesta Building Systems
Fenesta Building Systems Operational Financial Revenues Particulars Order Book (Rs. cr.) Q2 FY14 40,696 42.1 Q2 FY13 45,477 38.2 % Shift (10.5) 10.2 H1 FY14 78,068 84.5 H1 FY13 91,595 80.2 % Shift (14.8) 5.4 a) Fenesta with its diverse product line is regarded as a brand and product leader on a pan
Slide 27: 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. With a large base of captive power produced at a com
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