Navin Fluorine International Limited · NSE:NAVINFLUOR
Navin Fluorine International — Q2 FY16 Earnings Presentation
22 slides from Navin Fluorine International's earnings presentation, November 2015
Slide 1: Result Update Presentation Q2 FY16
Navin Fluorine International Limited Result Update Presentation Q2 FY16
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Navin Fluorine International Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe
Slide 3: Robust Performance in H1 FY16
Robust Performance in H1 FY16 Rs.Crs Revenue EBITDA & EBITDA Margin 19% +19% 60 20% Revenue growth driven 50 by: 15% 40 10% Higher volumes 30 57 10% 301 254 20 Better realizations 26 5% 10 Margins expanded 0 0% mainly on account of H1 FY15 H1 FY16 H1 FY15 H1 FY16 operating leverage Operating
Slide 4: Consistent Dividend Performance
Consistent Dividend Performance Dividend as % of Face Value Robust Dividend Payout 160% 160% Continuous Dividend 150% 150% 150% 140% since last 10 years Declared Highest ever Interim Dividend @ 100% Special Dividend of Rs. 60 per share in FY 12 Payout Ratio of more than 30% in last 4 years T
Slide 5: Business Units Performance: Refrigerants, Inorganic Fluorides
Business Units Performance Refrigerants Inorganic Fluorides Revenue (Rs.Crs) 195 194 113 105 176 98 99 154 113 46 FY12 FY13 FY14 FY15 H1 FY16 FY12 FY13 FY14 FY15 H1 FY16 Exports Geographic Mix – H1 FY16 11% Exports 42% Domestic 58% Domestic 89% 5
Slide 6: Business Units Performance: Specialty Chemicals, CRAMS
Business Units Performance Specialty Chemicals CRAMS* Revenue (Rs.Crs) 215 31 178 26 159 156 20 121 14 FY12 FY13 FY14 FY15 H1 FY16 FY13 FY14 FY15 H1 FY16 Domestic 0% Geographic Mix – H1 FY16 Domestic Exports Exports 47% 100% 53% 6 * CRAMS business generating revenue since FY13
Slide 7: Focus on CRAMS Business continues
Focus on CRAMS Business continues Acquired balance 49% stake in Manchester Organics Ltd (MOL), UK … MOL is engaged in Specialized Chemical Research & Development In May 2011, acquired 51% controlling stake in MOL to derive value from its fluorination chemistry Company continues to invest in
Slide 8: Manchester Organics - In Perfect Synergy with CRAMS
Manchester Organics - In Perfect Synergy with CRAMS Established in 1996, Manchester Organic Ltd (MOL) has a strong legacy in fluorination and high pressure chemistry Offer over 60 years of combined chemistry experience to customers Specialist in fluorination technology, with expertise in gener
Slide 9: Focus on Capex: Catalyst for Growth
Focus on Capex : Catalyst for Growth Greenfield Facility at Dahej, Gujarat. JV with Piramal Enterprises Ltd. (PEL) Facility to develop, manufacture and sell speciality Fluorochemicals for healthcare segment Current estimates of investments ~Rs.140 Crs Expected to come on-stream by H2FY16
Slide 10: Standalone Profitability Statement
Standalone Profitability Statement Rs. Crs. Q2 FY16 Q2 FY15 Change % H1 FY16 H1 FY15 Change % FY15 Revenue 151 124 22% 301 254 19% 546 Raw Material 63 59 134 124 272 Employee Expenses 15 14 31 31 61 Other Expenses 41 38 78 74 150 EBITDA 32 14 129% 57 26 119% 63 EBITDA Margin 21.0% 11.2% 19.0% 10.3%
Slide 11: Standalone Balance Sheet
Standalone Balance Sheet Rs. Crs. Sep-15 Mar-15 Rs. Crs. Sep-15 Mar-15 Shareholder’s Fund Non-current assets Share capital 10 10 Fixed assets 286 270 Reserves & Surplus 591 561 Non Current Investments 201 179 Non-current liabilities Long-term loans and advances 48 68 Long term borrowings - 12 Curren
Slide 12: Business Overview
Responsible Care” Business Overview rN Wh ARVIND MAFATLAL GROUP
Slide 13: Overview
Overview Building “India’s only plant with high pressure fluorination capabilities with Largest Integrated Specialty cGMP compliance” for CRAMS Business Fluorochemical Company in India Manufacturing plants Over 45 years of expertise strategically located in Handling Fluorine closer to major ports St
Slide 14: Business Units (BU) - Standalone
Business Units (BU) - Standalone FY11 – Revenue % FY15 – Revenue % Commenced CRAMS business in 2011 CRAMS – 0% CRAMS – 6% Commenced Specialty Chemicals in Specialty Specialty 2000 Chemicals – 27% Chemicals –39% Inorganic Fluorides & Inorganic Inorganic Refrigerants are Fluorides – 18% Fluorides –19%
Slide 15: Clients across the Globe
& e Clients across the Globe Ne ; UJ CLARIANT™ Cs) Bayer syngenta Cs) Bayer CropScience 2. PHARMACEUTICAL anaadl Bem. —_INDUSTRIESLTD. eo LUPIN AUROBINDO ‘Committed to Healthier Life e ae Y Dr.ReDpy's LIFE. RESEARCH . HOPE IN: 15 ARVIND MAFATLAL GROUP
Slide 16: Key Strengths
Key Strengths Fluorination Capabilities In-house R&D Pioneered Manufacturing of State-of-the-art R&D centre – Navin Refrigerant Gases in India Research Innovation Centre at Surat Over 45 years of experience in DSIR approved R&D Centre handling Fluorine Supports in product addition & Exte
Slide 17: Growth driven by Every Business Unit
Growth driven by Every Business Unit CRAMS Business progression from Contract research to contract manufacturing Manufacturing facility to be operational by FY16 Specialty Chemicals Introduction of new high value added molecules in portfolio Entry into newer geographies Inorganic Fluorides
Slide 18: Historical Financial Data
Historical Financial Data 18
Slide 19: MOL Performance
MOL Performance Revenue (Rs.Crs) PBT (Rs.Crs) +16% +76% 49 8 42 5 FY14 FY15 FY14 FY15 PAT (Rs.Crs) PAT Margin % + 434 bps +62% 15.39% 7 11.05% 5 FY14 FY15 FY14 FY15 19
Slide 20: Consolidated Profitability Statement
Consolidated Profitability Statement Rs. Crs. FY15 FY14 Change % Revenue 592 486 22% Raw Material 289 228 Employee Expenses 74 59 Other Expenses 156 133 EBITDA 72 66 9.4% EBITDA Margin 12.2% 13.6% Interest Expenses 3 6 Depreciation 20 22 Operating PBT 49 39 26% Operating PBT Margin 8.24% 7.94% Other
Slide 21: Consolidated Balance Sheet
Consolidated Balance Sheet Rs. Crs. Mar’15 Mar’14 Shareholder’s Fund Share capital 10 10 Reserves & Surplus 578 546 Minority Interest 13 9 Non-current liabilities Long term borrowings 27 - Deferred Tax Liabilities (net) 32 33 Other non-current liabilities 28 28 Current liabilities Short term borrowi
Slide 22: Contact
Contact For further information, please contact: Company : Investor Relations Advisors : Navin Fluorine International Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L24110MH1998PLC115499 CIN : U74140MH2010PTC204285 Mr. Sitendu Nagchaudhuri Ms. Sanjita Ghosh / Mr. Shogun Jain Chief Financial Officer
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