Shree Renuka Sugars Limited · NSE:RENUKA
Shree Renuka Sugars — FY2013 Earnings Presentation
26 slides from Shree Renuka Sugars's earnings presentation, May 31, 2013
Slide 1: Audited Results for Financial Year ended 31st March 2013
power Shree Renuka Sugars Ltd Audited Results for Financial Year (12 Months) ended 31st March 2013 Earnings Presentation Earnings Conference Call Thursday, May 31st 2013 at 17:30 hrs IST Primary Number +91-22-3065 0060 ethanol Secondary Number +91-22-6629 0019 Sugar` The numbers listed above are uni
Slide 2: Important Notice
Important Notice Forward Looking Statements This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Shree Renuka’s future business developme
Slide 3: Highlights
Highlights Consolidated EBITDA on annualized basis higher by Rs. 2,601 million to Rs. 15,635 million Standalone EBITDA on annualized basis higher by Rs. 1,166 million to Rs. 6,098 million Sharp decline in standalone debt and interest cost Cash profit in Brazil of Rs. 3,327 million for the ye
Slide 4: Market Overview
Market Overview Global Sugar Price Trends (Rs / ton) Key Perspectives 45,000 World Raw Sugar prices dipped below 17 c/lb due 40,000 to the expected global sugar surplus and higher 35,000 availability of cane for 30,000 crushing in Brazil i n Rs. per ton 25,000 Improving refining margin on accoun
Slide 5: Consolidated Financial Performance
Consolidated Financial Performance (Rs. in Million) 3M ended 3M ended % Y-o-Y 12M ended 18M ended Y-o-Y Key Perspectives 31st Mar ‘13 31st Mar ‘12 Growth 31st Mar ’13 31st Mar ’12 • Increase in revenue for the quarter due to Net Sales1 25,973 16,746 55.1% higher sales from refineries 104,158 124,831
Slide 6: Consolidated Balance Sheet
Consolidated Balance Sheet (Rs. in Million) -- 31.03.2013 31.03.2012 (Audited) (Audited) SOURCES OF FUNDS Net Worth 14,597 18,820 Minority Interest 32 36 Loan Funds 84,261 100,783 Deferred Tax Liability 272 1,556 Other Non-Current Liabilities 3,522 5,693 TOTAL 102,684 126,888 APPLICATION OF FUNDS Ne
Slide 7: Standalone Financial Performance
Standalone Financial Performance India Standalone (Rs. in Million) 3M ended 3M ended % Y-o-Y 12M ended 18M ended 31st Mar ‘13 31st Mar ‘12 Growth 31st Mar ’13 31st Mar ‘12 Net Sales1 19,129 9,804 95.1% 64,104 63,632 Operating EBITDA2 1,330 1,965 (32.3%) 6,098 7,398 % Margin 7.0% 20.0% 9.5% 11.6% For
Slide 8: Standalone Quarterly Financial Performance
Standalone Quarterly Financial Performance Net Sales1 19,129 Trends 20,000 18,488 14,839 Higher sales volume in sugar segment due to 16,000 high utilization of refineries 11,648 Rs . Million 12,000 9,804 Higher cogeneration sales during the quarter 8,000 6,975 Lower sales volume from ethanol s
Slide 9: Standalone Quarterly Financial Performance
Standalone Quarterly Financial Performance Net Profit1 Trends 320 291 270 Y-o-Y increase in net profit due to higher sales 220 Lower interest costs due to reduction in the 175 standalone debt R s . Million 170 133 133 120 77 70 55 20 TOTAL DEBT 31.03.2013 31.03.2012 (30) Q ended Q ended Q ended
Slide 10: Standalone Performance - Quarter Ended 31.03.2013
Standalone Performance - Quarter Ended 31.03.2013 Net Sales1 Breakdown - India Quarter ended Mar 2012 Quarter ended Mar 2013 8% 8% 1% 16% 40% 23% 68% 36% Sugar Trading Cogeneration Ethanol Sugar Trading Cogeneration Ethanol Notes: Net Sales excludes excise duties, foreign exghange gain/loss and incl
Slide 11: Closing stock as on 31st March 2013 - India
Closing stock as on 31st March 2013 - India India As on Unit of Measure 31st March 2013 Sugar MT 559,009 White Sugar MT 473,951 Raw Sugar MT 85,058 Ethanol KL 57,012 Molasses MT 105,322 11
Slide 12: Sales Quantity – India Standalone
Sales Quantity – India Standalone India 3M ended 3M ended % Y-o-Y 12 M ended 18 M ended Mar 2013 Mar 2012 Growth Mar 2013 Mar 2012 Total Sugar Sold(MT) 442,874 148,653 198% 1,550,376 1,284,075 Export (in MT) 205,045 43,244 374% 872,123 574,265 Domestic (in MT) 237,829 105,409 126% 678,253 709,810 Et
Slide 13: Net Price Realization – India Standalone
Net Price Realization – India Standalone India 3M ended 3M ended % Y-o-Y 12 M ended 18 M ended Mar 2013 Mar 2012 Growth Mar 2013 Mar 2012 Average Manufactured Sugar (in Rs./MT) 30,250 27,942 8.3% 31,673 29,209 Export (in Rs./MT) 29,178 33,366 (12.6%) 32,382 33,439 Domestic (in Rs./MT) 31,174 25,717
Slide 14: Standalone Balance Sheet
Standalone Balance Sheet (Rs. in Million) -- 31.03.2013 31.03.2012 (Audited) (Audited) SOURCES OF FUNDS Net Worth 17,930 17,805 Loan Funds 26,115 43,281 Deferred Tax Liability 2,431 2,204 Other Non-Current Liabilities 32 356 TOTAL 46,508 63,646 APPLICATION OF FUNDS Net Fixed Assets 27,621 28,035 Inv
Slide 15: Brazilian Subsidiaries
BRAZILIAN SUBSIDIARIES 15
Slide 16: Profit and Loss Statement – Renuka do Brasil S/A
Profit and Loss Statement – Renuka do Brasil S/A 3 M en ded 3 M en ded 1 2 M en ded 1 2 M en ded (Rs. i n Mi l l i on ) Mar 2 0 1 3 - Mar 2 0 1 2 - Mar 2 0 1 3 - Mar 2 0 1 2 - Net Sal es 1 4 ,6 0 9 4 ,6 0 0 2 3 ,6 1 0 2 5 ,7 4 8 Cost of Goods Sold (2,672) (3,568) (14,570) (16,793) G&A Expenses (147)
Slide 17: Balance Sheet – Renuka do Brasil S/A
Balance Sheet – Renuka do Brasil S/A (Rs. in Million) -- 31.03.2013 31.03.2012 (Audited) (Audited) SOURCES OF FUNDS Net Worth 5,753 9,675 Loan Funds 42,769 40,419 Other Non-Current Liabilities 7,437 8,030 TOTAL 55,959 58,124 APPLICATION OF FUNDS Net Fixed Assets 39,221 43,261 Investments 634 297 Def
Slide 18: Profit and Loss Statement – Renuka Vale do Ivai S/A
Profit and Loss Statement – Renuka Vale do Ivai S/A 3 M en ded 3 M en ded 1 2 M en ded 1 2 M en ded (Rs. i n Mi l l i on ) Mar 2 0 1 3 - Mar 2 0 1 2 - Mar 2 0 1 3 - Mar 2 0 1 2 - Net Sal es 1 524 836 7 ,9 0 2 7 ,7 8 7 Cost of Goods Sold (276) (432) (3,909) (3,489) G&A Expenses (170) (92) (578) (640)
Slide 19: Balance Sheet – Renuka Vale do Ivai S/A
Balance Sheet – Renuka Vale do Ivai S/A (Rs. in Million) -- 31.03.2013 31.03.2012 (Audited) (Audited) SOURCES OF FUNDS Net Worth 5,664 4,732 Loan Funds 8,672 9,603 Other Non-Current Liabilities 1,826 2,248 TOTAL 16,162 16,583 APPLICATION OF FUNDS Net Fixed Assets 10,982 12,658 Investments 645 597 De
Slide 20: Sales and Price Summary
Sales and Price Summary Jan 2013 – Mar 2013 Unit of Renuka do Brasil Sales Quantity Average Prices Measure Sugar tons 98,252 18.4 c/lb Ethanol m3 52,077 1,310 R$/m3 Cogen Exports ‘000 MWh 100 221 R$/MWh By-products/Utilities* (‘000 R$) 572 Unit of Renuka Vale do Ivai Sales Quantity Average Prices Me
Slide 21: Closing stock as of 31st March 2013 - Brazil
Closing stock as of 31st March 2013 - Brazil Renuka do Brasil S/A As on Unit of Measure 31st March 2013 Sugar MT 948 Ethanol KL 2,856 Renuka Vale do Ivai S/A As on Unit of Measure 31st March 2013 Sugar MT 2,043 Ethanol KL 1,573 21
Slide 22: Loan Funds - Brazil
Loan Funds - Brazil Renuka do Brasil Renuka VDI Total Brazil Unit Mar-13 Mar-12 Mar-13 Mar-12 Mar-13 Mar-12 Brazilian R$ mn R$ 709 642 132 139 841 781 denominated USD denominated mn USD 374 373 94 109 468 482 REFIS mn R$ 75 95 - - 75 95 Financial Leases mn R$ 53 8 - - 53 8 Debt w/o forex mn R$ 1,518
Slide 23: Sugar: Quarterly Operating Performance
Sugar: Quarterly Operating Performance Sugarcane Crushed Sugar Production1 6,000 1,000 5,569 883 900 5,000 4,569 800 214 700 637 4,000 2,934 545 4 MT' 1000 600 MT'1000 3,081 3 492 2,989 500 3,000 43 2,296 364 2,016 400 1,229 4,569 113 669 2,000 300 93 253 379 634 542 3,039 200 126 2,635 1,000 1,910
Slide 24: Ethanol & CoGen: Quarterly Operating Performance
Ethanol & CoGen: Quarterly Operating Performance Ethanol Production Co-Gen Power Exports 150 138 300 271 261 124 120 250 196 118 100 Mi llion Units 200 90 KL'000 78 49 65 96 150 136 119 60 114 47 48 43 93 40 1 100 40 5 161 147 153 30 52 111 46 38 50 25 30 28 74 41 0 2 0 8 Q ended Q ended Q ended Q e
Slide 25: Fact Sheet
Fact Sheet COMPANY BACKGROUND Shree Renuka Sugars is a global agribusiness and bio- Ethanol: Shree Renuka manufactures fuel grade Brazil is the leading producer and exporter of energy corporation. The Company is one of the largest ethanol that can be blended with petrol. Global sugarcane, sugar and
Slide 26: Corporate Office
power Shree Renuka Sugars Ltd Corporate Office 7th Floor, Devchand House Shiv Sagar Estate, Dr. Annie Besant Road, Worli, Mumbai-400 018. www.renukasugars.com Vishesh Kathuria +91 22 4001 1400 Shree Renuka vishesh.kathuria@renukasugars.com Sugars Ltd. ethanol sugar 26