Dwarikesh Sugar Industries Ltd. · NSE:DWARKESH
Dwarikesh Sugar Industries — Q2 FY24 Earnings Presentation
32 slides from Dwarikesh Sugar Industries's earnings presentation, Oct 27, 2023
Slide 1: Regulation 30 disclosure cover letter
DWARIKESH SUGAR INDUSTRIES LIMITED Corp. off.; 511, Maker Chambers V, 221, Nariman Point, Mumbai – 400021. Tel.: 2283 2486, 2204 2945, Fax: 2204 7288 E Mail: dsilbom@dwarikesh.com Website: www.dwarikesh.com, CIN: L15421UP1993PLC018642 REF: DSIL/2023-24/228 October 27, 2023 Corporate Relationship Dep
Slide 2: Investor Presentation Q2 & H1 FY24 Results
INVESTOR PRESENTATION C O M PA N Y P E R F O R M A N C E Q2 & H1 FY24 Results 27 October 2023
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and the accompanying slides (the “Presentation”), which have been prepared by Dwarikesh Sugar Industries Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscr
Slide 4: Earnings Call
EARNINGS CALL Time and Date 3:00 PM IST, Monday, October 30, 2023 Conference Dial-In +91 22 6280 1116/+91 22 7115 8017 International Toll Free UK 08081011573 USA 18667462133 Hong Kong 800964448 Singapore 8001012045 Diamond Pass: Diamond Pass Registration (choruscall.in) Earnings Call Investor Presen
Slide 5: Table of contents
Table of contents Sector outlook 05 Business overview 07 Financial performance 12 Operational trends 17 Pictures of our facilities 22
Slide 6: Sector Outlook
SECTOR OUTLOOK According to the latest report from S & P Global, the sugar season of 2023-24 is anticipated to conclude with a surplus of approximately 3.3 million tons. This positive outlook, however, comes with some cautionary notes, especially concerning the sugar crops in Asia, particularly in c
Slide 7: Sector Outlook (Continued)
Continued.. Navigating multiple hurdles and challenges during ESY 2022-23 blending target of close to 12% has been achieved. As we look ahead to the Ethanol Supply Year (ESY) 2023-24, there are expectations of a higher blending target, potentially reaching 15%. However, the ultimate goal of achievin
Slide 8: Business Overview
BUSINESS OVERVIEW
Slide 9: At a Glance
AT A GLANCE Capacity Dwarikesh Dwarikesh Dwarikesh Aggregate Nagar Puram Dham Sugar (TCD) 6,500 7,500 7,500 21,500 Cogeneration 96 22 33 41 (MW) (Surplus: c. 56) Distillery (LPD) 1,62,500 - 1,75,000 3,37,500 • Three plants located in Uttar Pradesh, one of India’s largest sugar producing states ⚬ Two
Slide 10: Operations Overview
OPERATIONS OVERVIEW Farmers Molasses (nearly 1.54 lakhs) (External Sales) Industrial Alcohol Cane Development & (162.5 KLPD at Dwarikesh Sugarcane Molasses Distillery Marketing Nagar & 175 KLPD at Dwarikesh Dham) Crushing Clarification Sugar Dwarikesh Sugar (3 facilities) Sugarcane Juice Evaporation
Slide 11: Management
MANAGEMENT G R Morarka Vijay S BJ Banka Maheshwari ⚬ Founder and Promoter ⚬ Managing Director ⚬ Managing Director & Company ⚬ Executive Chairman Commerce graduate ⚬ Chartered Accountant Secretary cum Chief Compliance & ICWA Inter ⚬ Associated with the Officer ⚬ Received ‘Indira Gandhi Priyadarshini
Slide 12: Key Milestones
KEY MILESTONES Set up DN Distillery with 30,000 LPD Debottlenecking of DN capacity; 100 KLPD Distillery Distillery by capacity expansion Commissioned Dwarikesh Puram Commencement of DN Crushing capacity commissioning project successfully (DP) plant with crushing capacity of surplus power supply reac
Slide 13: Financial Performance Q2 & H1 FY24
FINANCIAL PERFORMANCE Q2 & H1 FY24
Slide 14: Performance Highlight
PERFORMANCE HIGHLIGHT In INR million Q2FY24 H1FY24 Q2FY23 H1FY23 FY23 Total Income 4,486.8 10,202.2 5,424.2 11,908.3 21,170.0 EBIDTA 319.0 1,092.9 306.2 1,058.6 2,285.7 PAT 102.6 508.8 78.4 475.4 1,048.1 In INR Q2FY24 H1FY24 Q2FY23 H1FY23 FY23 EPS 0.55 2.70 0.42 2.52 5.57 During H1 FY23, depreciatio
Slide 15: Quarterly Trends
QUARTERLY TRENDS Revenue from Operations (Million) EBITDA (Million) PAT (Million) EBITDA Margin PAT Margin Average Domestic Sugar Realization INR/Quintal 7.2% 2.3% 3695.7 5.7% 1.5% 3492.9 78.4 102.6 5401.1 4455.0 306.2 319.0 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 PAT Margin is PAT / Revenue from
Slide 16: Half Yearly Trends
HALF YEARLY TRENDS Revenue from Operations - External (INR Million) EBITDA (INR Million) PAT(Million) EBITDA Margin PAT Margin 10.7% 5.0% 4.0% 8.9% 1058.6 1092.9 11865.7 10167.2 475.4 508.8 H1FY23 H1FY24 H1FY23 H1FY24 PAT Margin is PAT / Revenue from operations EBITDA Margin is EBITDA / Revenue from
Slide 17: Financials - Summary
FINANCIALS - SUMMARY In INR million INCOME Q2 FY 24 H1 FY 24 Q2 FY 23 H1 FY 23 FY 23 REMARKS Lower during the Q2 & H1, FY24 on account of Revenue from operations 4,455.0 10,167.1 5,401.1 11,865.7 21,029.6 lesser volume of sugar sold Other income 31.8 35.1 23.1 42.6 140.4 -- Total Revenue 4,486.8 10,
Slide 18: Financials - Summary (continued)
FINANCIALS - SUMMARY (continued) In INR million INCOME Q2 FY 24 H1 FY 24 Q2 FY 23 H1 FY 23 FY 23 REMARKS Higher on account of depreciation in respect of DD distillery unit. (Commenced operations Depreciation and amortization expense 134.7 262.7 132.7 240.6 502.3 during Q2 FY23) Other expense 363.9 6
Slide 19: Operational Trends
OPERATIONAL TRENDS
Slide 20: Sugar Business Highlights
SUGAR BUSINESS HIGHLIGHTS ▪ Crushing during H1 FY 24 is up by 24 % at 9.851 million quintals as compared to 7.942 million quintals during H1 FY 23. ▪ Sugar production during H1 FY 24 is 0.897 million quintals as compared to 0.896 million quintals during H1 FY 23. In spite of higher cane crushing dur
Slide 21: Sugar Business - Quarterly Snapshot
SUGAR BUSINESS - QUARTERLY SNAPSHOT Sugar Sold ('000 Quintal) Revenue from Operations (INR Million) EBITDA (INR Million) Average Domestic Sugar Realization INR/Quintal EBITDA Margin 5000.0 3695.7 4000.0 3000.0 -2.4% 2000.0 3492.9 1000.0 -4.2% 4551.5 3506.9 1148.7 719.0 0.0 Q2FY23 -110.7 Q2FY24 -146.
Slide 22: Sugar Business - Half-Yearly Snapshot
SUGAR BUSINESS – HALF- YEARLY SNAPSHOT Revenue from Operations (INR Million) Sugar Sold ('000 Quintals) EBITDA (INR Million) EBITDA Margin Average Domestic Sugar Realization(INR/Quintal) 3.2% 3645.4 1.8% 346.2 152.5 3476.1 2677.9 1689.3 10761.2 8440.6 H1FY23 H1FY24 H1FY23 H1FY24 EBITDA Margin is EBI
Slide 23: Cogeneration Data
COGENERATION DATA HIGHLIGHTS Power Generated (Mn Units) Power Exported (Mn Unit) ▪ Power revenue during H1FY24 has increased by 21%, reaching ₹ 112 Average Realization (INR/Unit) million, compared to ₹ 93 million during the corresponding period in the previous year. The generation of power is incide
Slide 24: Distillery Quarterly Segment
DISTILLERY QUARTERLY SEGMENT HIGHLIGHTS ▪ The sale volume of Industrial Alcohol has surged by 29% and 56% on a quarterly and half-year basis, respectively, compared to the corresponding period in the previous year. Similarly revenue is up by 29% & 60% respectively as compared to corresponding period
Slide 25: Distillery Half-Yearly Segment
DISTILLERY HALF-YEARLY SEGMENT Industrial Alcohol Sold (Mn L) Revenue from Operations (INR Million) Average Realization(INR/L) EBITDA (INR Million) EBITDA Margin 61.7 31.0% 25.5% 59.1 940.4 712.3 37.9 59.1 2298.4 3681.9 H1FY23 H1FY24 H1FY23 H1FY24 EBITDA Margin is EBITDA / Revenue from operations Op
Slide 26: Pictures of Our Facilities
PICTURES OF OUR FACILITIES
Slide 27: Dwarikesh Nagar Unit (Bijnor District)
DWARIKESH NAGAR UNIT (BIJNOR DISTRICT) Sugar plant overview Distillation house & multi-effect evaporator Bagasse silos & feeders of boiler Continuous pan
Slide 28: Dwarikesh Puram Unit (Bijnor District)
DWARIKESH PURAM UNIT (BIJNOR DISTRICT) Juice evaporator Centrifugal station Cogeneration control panel Switch yard
Slide 29: Dwarikesh Dham Unit (Bareilly District)
DWARIKESH DHAM UNIT (BAREILLY DISTRICT) Facility overview 24 MW TG set Pan station Clarification section
Slide 30: Dwarikesh Nagar Distillery (Bijnor District)
DWARIKESH NAGAR DISTILLERY (BIJNOR DISTRICT) 162.5 KLPD distillery
Slide 31: Dwarikesh Dham Distillery (Bareilly District)
DWARIKESH DHAM DISTILLERY (BAREILLY DISTRICT) 175 KLPD distillery
Slide 32: Thank You
THANK YOU Vijay S. Banka Rashi Sanghi Managing Director (DSIL) Adfactors PR Pvt. Ltd. Email: vsbanka@dwarikesh.com Email: rashi.sanghi@adfactorspr.com
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