Bodal Chemicals Limited · NSE:BODALCHEM
Bodal Chemicals — Q2 FY2020 Earnings Presentation
32 slides from Bodal Chemicals's earnings presentation, Nov 14, 2019
Slide 1: Bodal Chemicals Ltd. cover letter to exchanges
Bodal Chemicals Ltd. COLOURS, INTEGRATION. INNOVATION, By Online Submission Sec/19-20/154 Date: 14/11/2019 To, To, The General Manager, The General Manager, BSE Ltd. National Stock Exchange of India Ltd. 1st Floor, New Trading Ring, Exchange Plaza, Rotunda Building, P.J. Tower, Plot no. C/1, G Block
Slide 2: Quarterly Q2FY2019-20 & H1FY2019-20
Quarterly Q2FY2019-20 & H1FY2019-20 14th November, 2019 Bodal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION.
Slide 3: Disclaimer
Disclaimer 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 Bodal Chemicals' future business developments and economic performance. W
Slide 4: Company Profile
Company Profile Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 3
Slide 5: History of Bodal Chemicals Ltd (Bodal)
History of Bodal Chemicals Ltd (Bodal) • Bodal was incorporated in 1989 by Mr. Suresh Patel, a first generation entrepreneur. • Bodal is today one of the globally leading, integrated Dyestuffs companies from India. • Company commenced its operations by setting up Vinyl Sulphone plant at Vatva - Ahme
Slide 6: History of Bodal Chemicals Ltd (Bodal)
History of Bodal Chemicals Ltd (Bodal) • Bodal has strong presence across the globe. At present Bodal exports around 45% of its sales to 150+ customers in more than 45 countries. • Bodal has six subsidiaries: 1. SP S Processors Pvt. Ltd. (SPS) - 70% holding 2. Trion Chemicals Pvt. Ltd. (TCPL)- 59% h
Slide 7: Journey
Journey 2016 Notes: 2006 Amalgamation: Units are manufacturing sites Listed on BSE-reverse merger Bodal Agrotech, LABSA, Unit X (Zero Discharge) Unit Nos. are as per current numbering of sites with Dintex Dye Chem (Unit I) Zero Debt 2006 2017 Acquired Unit IV Acquired 70%: SPS Processors (Zero Disch
Slide 8: Manufacturing Value Chain
Manufacturing Value Chain - Input Materials - part/full in-house Input Materials - external Badal Chemicals Products Water Vinyl Sulphone + Derivatives Reactive Dyes Textiles Para Nitro Aniline Ice H Acid Beta Naphthol Steam Sulphuric Acid DASA Power Acid Dyes Leather Chloro Sulphonic Acid ' Sulphur
Slide 9: Quarterly Performance
Quarterly Performance Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 8
Slide 10: Q2FY20 Performance
Q2FY20 Performance Operational Highlights > Share of Dyestuff in total revenues increased to 49% in Q2FY20 (from 35% in Q2FY19). This is inline with our strategy of higher business integration and moving towards a global Dyestuff player. For Q2FY20, Dye Intermediates production grew by 12% YoY and B
Slide 11: Financial-Standalone basis
Financial-Standalone basis (Rs. million) Particulars Q2FY20 Q2FY19 YoY (%) Revenue from operations 2,575 3,743 -31% Other income 28 19 50% Total Income 2,603 3,761 -31% Raw materials consumed 1,541 2,267 -32% Employee benefits 175 160 10% Other expenses 608 620 -2% Total expenses 2,324 3,047 -24% Ea
Slide 12: Revenue Breakup
Revenue Breakup Breakup (Standalone) Basic Q2FY202~0thers Others Basic 5% ~ Q2FY2019 Chemicals ~ 3% 13%-------._ Chemicals 10% ~ Dye Intermediates Dye 36% Intermediates 50% Dyestuff Dyestuff 35% 49% Q2FY2020 Q2FY2019 Export Export Domestic 47% Domestic 51% 49% 53% 11 Bodal Chemicals Ltd. COLOURS. IN
Slide 13: Financial Highlights- Standalone
Financial Highlights- Standalone Total Income (Rs. Million) EBITDA (Rs. Million) and Margin(%) 19.0% 3,761 714 2,603 10.7% 279 Q2FY19 Q2FY20 Q2FY19 Q2FY20 Profit Before Tax (Rs. Million) and Margin (%) Profit After Tax (Rs. Million) and Margin (%) 17.5% 11.4% 431 657 9.2% 240 7.1% 186 Q2FY19 Q2FY20
Slide 14: Half yearly Performance
Half yearly Performance Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 13
Slide 15: H1FY20 Performance
H1FY20 Performance Operational Highlights Dyestuff revenues have grown by 16% YoY in H1FY20. While Dye Intermediates revenues have declined by 39% YoY and Basic Chemicals revenues declined by 23% Yo Yin H1FY20. Dyestuff production declined by 3% and Dye Intermediates production declined by 2% in H1F
Slide 16: Financial-Standalone basis
Financial-Standalone basis (Rs. million) Particulars H1FY20 H1FY19 YoY (%) Revenue from operations 5,799 7,272 -20% Other income 74 45 63% Total Income 5,872 7,318 -20% Raw materials consumed 3,572 4,451 -20% Employee benefits 335 313 7% Other expenses 1,163 1,185 -2% Total expenses 5,069 5,950 -15%
Slide 17: Revenue Breakup
Revenue Breakup Breakup (Standalone) Basic H1F ~ Y20 Others Basic Others H1FY19 Chemicals 2% 12% 6 Chemicals % ~ Dye 12% -- Intermediates Dye 37% Intermediates 49% Dyestuff Dyestuff 49% 33% H1FY20 H1FY19 Export Export 45% 47% Domestic 53% Domestic 55% 16 Bodal Chemicals Ltd. COLOURS. INTEl3RATlON. I
Slide 18: Financial Highlights- Standalone
Financial Highlights- Standalone Total Income (Rs. Million) EBITDA (Rs. Million) and Margin(%) 18.7% 1,368 7,318 13.7% 5,872 803 H1FY19 H1FY20 H1FY19 H1FY20 Profit Before Tax (Rs. Million) and Margin (%) Profit After Tax (Rs. Million) and Margin (%) 17.1% 11.2% 1,252 822 9.0% 10.7% 528 630 H1FY19 H1
Slide 19: Financials of Subsidiaries & Consolidated Numbers
Financials of Subsidiaries & Consolidated Numbers Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 18
Slide 20: Financials of Subsidiaries & Consolidated Numbers
Financials of Subsidiaries & Consolidated Numbers Subsidiaries Total Income 267 29 243 20I 78 EBITDA 21 (9) 14 2 (1 )I PAT 1 (26) 7 1 (5)1 Consolidated Financials D 0 Quarterly Half Yearly Particulars Q2FY20 Q2FY19 H1FY20 H1FY19 Operational Revenue 3,0771 3,9321 6,800! 7,449 Other Income 0 30 19 54!
Slide 21: Balance Sheet Analysis
Balance Sheet Analysis Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 20
Slide 22: Leverage - Standalone
Leverage -Standalone Particulars (Rs. Million) Net Debt / Equity (x) Short Term Borrowings 1,627 655 0.17x Long Term Borrowings 0 8 Total Debt 1,627 663 Less: Cash & Cash Equivalents 85 142 0.06x Net Debt/ (Net Cash) 1,542 521 Increase in Debt 1,021 Mar-19 Sep-19 Net Worth 9,204 8,352 EBITDA* 1,459
Slide 23: Working Capital Analysis - Standalone
Working Capital Analysis - Standalone (Rs. Million) orking Capital 30-Sep-19 31-Mar-19 i) Inventories 1,950 1,851 ii) Trade Receivables 1,952 2,204 iii)Trade Payables 1,500 1,926 Net Working Capital (i+ii-iii) 2,403 2,130 Net working capital days 76 61 61 58 51 47 Inventories Trade Receivables Trade
Slide 24: Bodal Chemicals Ltd.
Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 23
Slide 25: Management Comments on Results & Updates (1 of 2)
Management Comments on Results & Updates (lof 2) Total production for Q2FY20 improved by 2% to 64,109 YoY. Dyestuff production during the quarter was impacted by lower demand due to slowdown in overall economy. Total production during H1FY20 remained flat YoY at 124,094 MT. Total standalone income f
Slide 26: Management Comments on Results (2 of 2)
Management Comments on Results (2of2) During the quarter we have incorporated one subsidiary in Bangladesh (Bodal Bangla Ltd). It will be our marketing base for Bangladesh. Our working capital requirement has moved up mainly due to increase in share of Dyestuff business in HIFY20. Apart from that, o
Slide 27: Shareholding Data
Shareholding Data Shareholding Pattern- September 2019 • Promoter & Promoter Group • Mutual Funds •Foreign Portfolio Investors • Others 5.9% Share Data Points Share Price Performance 160 150 Share Price (Rs) 74 140 130 Market Capitalization (Rs mn) 9,010 120 110 100 52 week - High- Low (Rs) 132.3 -
Slide 28: Conference call to discuss Q2FY20 Results & Outlook
Conference call to discuss Q2FY20 Results & Outlook Management will discuss results of Q2FY20 and Outlook on a conference call on 14th November, 2019 at 5.00 PM 1ST. The conference call dial-in numbers are: Primary number: +91-22-6280-1271 / +91-22-7115-8172 Local access number: +91-70456-71221 The
Slide 29: Thank you
Thank you Badal Chemicals Ltd. For any queries, please contact: COLOURS. INTEGRATION. INNOVATION. Meet Chande Mayur Padhya IR, Bod al Chemicals Ltd. CFO, Bod al Chemicals Ltd. ir@bodal.com mayur@bodal.com Ph: +91 79 6816 0100 +91- 99099 41324 28
Slide 30: Annexures
Annexures Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 29
Slide 31: Sale of products - by sub-segment and geography (Standalone)
Sale of products - by sub-segment and geography (Standalone) D Q2FY20 % Share Q2FY19 % Share YoY (%) Do~a 1,235 49%: 1,950 53%: -37% xport 1,2971 51 %1 1,7301 47%: -25% ITotal 2,5321 100% 3,6801 100% -31% ye Intermediates 9091 36%1 1,8221 50%1 -50% yestuff 1,2381 49%1 1,30 II 35%1 -5% asic Chemicals
Slide 32: Production Quantity Metric Tons (MT)
Production Quantity Metric Tons (MT) 3,938 5,277 -25%: yes Intermediates 6,765 6,031 12%: asic Chemicals 53,405 51,522 4%: 9,355 9,635 -3%: yes Intermediates 12,043 12,248 -2%: asic Chemicals 102,696 101,970 1%: 31 Bodal Chemicals Ltd. COLCLJRS, INTEBRATIDN, INMDVATION. I