Slide 1: India's Largest Cement Company Results Q1 FY 2015/16
INDIA'S LARGEST RESULTS CEMENT Q1:FY 2015/16 COMPANY Stock code: BSE: 532538 NSE: ULTRACEMCO Reuters: UTCL.NS Bloomberg: UTCEM IS / UTCEM LX
Slide 2: Contents
Contents MACRO AND KEY HIGHLIGHTS OPERATIONAL SECTOR SECTOR FOR THE AND FINANCIAL GUIDANCE UPDATE QUARTER PERFORMANCE Note 1: The financial figures in this presentation have been rounded off to the nearest ` 1 cr Note 2 : USD:INR = 63.65 GLOSSARY Mnt – Million Metric tons Lmt – Lakhs Metric tons Mtp
Slide 3: Macro and Sector Update
Macro and Sector Update
Slide 4: Macro and Sector Update
Macro and Sector Update Macro Update Government reforms initiated ……. But yet to yield results Industry performance – “Below Potential” Manufacturing Sector remained sluggish Industrial Production for first two months: 3.0% (4.6% in LY) Sector Update Industry off-take - Flat Sector capac
Slide 5: Sector- Regional Update
Sector- Regional Update Zone / Region Volume Infra Const. Housing Rural North Pick-up in infrastructure projects and pre-monsoon construction activities Low demand from Rural and Housing East Uptick in Govt infra demand - Odisha and Bihar Double digit rural and housing demand – West Bengal,
Slide 6: Sector- Regional Update
Sector- Regional Update Zone / Region Volume Infra Const. Housing Rural Maharashtra Slow down in housing demand Highway and rural road development yet to take-off fully South Government projects and road construction yet to get momentum Demand from new state creation – likely to come from H2
Slide 7: Key Highlights for the Quarter
Key Highlights for the Quarter
Slide 8: Key highlights Q1 2015-16
Key highlights Q1 2015-16 Commissioned Waste Heat Recovery Systems (WHRS):15 MW Total Capacity Full year benefits from FY17 48 MW YoY stable sales volume Sequentially up 3% Double digit growth in East Petcoke consumption increased further at 68% North and South (Ex-acquired plants – 74%) Plant
Slide 9: Key highlights Q1 2015-16
Key highlights Q1 2015-16 Net Debt:Equity 0.24 Consolidated net debt reduced > ` 500 Crs Net Debt/EBIDTA 0.91 Cement plants acquisition in Madhya Pradesh progressing well Benefits from Received CCI, shareholders and creditors approval Q4 FY16 Production from Bicharpur coal block – taken posses
Slide 10: Operational and Financial Performance
Operational and Financial Performance
Slide 11: Sales performance
Sales performance Q4 Q1 Particulars FY15 CY LY % 63.2 Annual Consolidated Capacity (mtpa) 63.2 61.8 2 Sales Volume (Mnt): 11.5 - Domestic Cement 11.9 11.3 5 12.8 - Consolidated (Incl. Clinker) 13.0 12.4 4 3.5 White Cement & Putty (Lmt) 2.7 2.6 4 Volume growth in spite of slowdown Capacity utili
Slide 12: Operational Performance
Operational Performance Cost composition (Grey Cement) Q1 16 Logistic Cost 15% Q1 15 3% 35% Energy Cost 16% 5% 3% 32% 5% 14% Raw Materials 14% 28% Packing 30% Maintenance & Others Overheads Logistic cost increased 11% - ` 1130/t Impact of increased rail freight (9.2%) and change in sales pattern &
Slide 13: Logistic cost trends
Logistic cost trends (Indian Operations) Logistic Cost `/t 3% 1130 1095 Sequentially logisitc cost up - 3% Railway freight up 2.7% (April’15) 1014 Change in plant mix YoY logistic cost higher – 11% Railway freight hike – 9.2% (` 40/t) Q1 15 Q4 15 Q1 16 Jun’14: 6.5% & April’15: 2.7% Mode Mix Q1
Slide 14: Energy cost trends
Energy cost trends (Indian Operations) Energy Cost `/t 968 940 7% Improved Energy Cost: 7% YoY and 4% QoQ 901 Increasing trend in captive power consumption share : Benefit of commissioning of WHRS Q1 15 Q4 15 Q1 16 Increased captive power wheeling to GUs Power Mix % Q1 15 Q4 15 Q1 16 Gain in f
Slide 15: Financial Performance Indicators
Financial Performance Indicators (Consolidated) Net Sales (` crs) Operating EBIDTA* (` crs) Q1 15 Q1 16 Q1 15 Q1 16 6372 1201 +6% +11% 5989 1081 * Excluding Other Incomes Net Sales up 6% ….. Stable revenues for overseas subsidiaries Operating EBDITA improved 11% linked to cost efficiencies 15
Slide 16: Income statement: Q1 (Standalone)
Income statement: Q1 (Standalone) ` crs Particulars CY LY % Revenue 6038 5649 7 Other Income 100 213 (53) EBIDTA 1252 1264 (1) Margin (%) 21% 22% (2) Finance Costs 138 100 (38) Depreciation 283 265 (7) PBT 831 899 (8) Tax Expenses 240 273 12 PAT 591 626 (6) EPS (`) 21.5 22.8 (6) Overall EBIDTA down
Slide 17: EBIDTA Pmt
EBIDTA Pmt (Indian Operations) 1121 1056 992 1009 973 893 876 FY14 Q1FY15 Q2FY15 Q3FY15 Q4FY15 FY15 Q1FY16 YoY EBDITA Pmt down; but 6% higher at operating level (` 928/t v/s ` 878/t in LY) 17
Slide 18: Income statement: Q1 (Consolidated)
Income statement: Q1 (Consolidated) ` crs Particulars CY LY % Revenue 6372 5989 6 Other Income 82 215 (62) EBIDTA 1282 1296 (1) Margin (%) 20% 22% (2) Finance Costs 148 110 (35) Depreciation 301 282 (7) PBT 833 904 (8) Tax Expenses 242 276 12 Minority Interest 0 1 PAT 591 627 (6) EPS (`) 21.5 22.9
Slide 19: Financial Position
Financial Position ` crs Standalone Consolidated Particulars 30.06.15 31.03.15 30.06.15 31.03.15 19453 18858 Shareholders Funds 19649 19041 - - Minority Interest 14 18 6842 7414 Loans (Incl. Current Maturities) 9297 9829 2944 2792 Deferred Tax Liabilities 2938 2786 29240 29064 Sources of Fund 31897
Slide 20: Financial Indicators
Financial Indicators Standalone Consolidated Indicators 30.06.15 31.03.15 30.06.15 31.03.15 Shareholders fund (` crs ) 19453 18858 19649 19041 Borrowings (` crs ) 6842 7414 9297 9829 Cash Equivalents (` crs ) 4482 4479 4636 4634 Financial Indicators Net Debt: Equity 0.12 0.16 0.24 0.27 Net Debt / EB
Slide 21: Sector Guidance
Sector Guidance
Slide 22: Sector guidance
Sector guidance Cement demand expected to pick-up from H2 FY16 Cement demand growth drivers: Government focus on infrastructure development with higher budgetary allocation for roads, dedicated freight corridor, irrigation, port etc. Expected demand from “Smart Cities” and “Housing for all”
Slide 23: Disclaimer
Disclaimer Statements in this “Presentation” describing the Company’s objectives, estimates, expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Impor
Slide 24: Aditya Birla - UltraTech The Engineer's Choice
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