Shree Pushkar Chemicals & Fertilisers Ltd. · NSE:SHREEPUSHK
Shree Pushkar Chemicals & Fertilisers — Q3 FY17 Earnings Presentation
32 slides from Shree Pushkar Chemicals & Fertilisers's earnings presentation, February 2017
Slide 1: Shree Pushkar Chemicals & Fertilisers Ltd Investor Presentation Q3 & 9M FY17
Shree Pushkar Chemicals & Fertilisers Ltd Investor Presentation Q3 & 9M FY17 February 2017 1
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shree Pushkar Chemicals & Fertilisers Limited Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purch
Slide 3: Q3FY17 Highlights
Q3FY17 Highlights Consistently Improving Total Revenue Performance 51.1% Rs 76.48 Crs • Dyestuff contribution of 10% in revenue • Robust revenue growth in Dye Intermediates EBIDTA Better operating leverage 72.5% Rs 12.84 Crs (Margin 16.8%) • Improved Product Mix Performance in Line PAT 21.4% Rs 7.23
Slide 4: 9M FY17 Segmental Highlights
9M FY17 Segmental Highlights • Steady increase in contribution from Dyestuff segment to our revenues Revenue Break up 9MFY17 • Acid Complex Division had higher captive utilization 10.1% Dye Intermediates Acid Complex 15.2% 18% Volume 1.8% growth 3.7% 69.2% 38% Revenue growth 35% Revenue de- growth C
Slide 5: Financial Highlights
Financial Highlights Particulars (Rs. In Crs) Q3FY17 Q3FY16 Y-o-Y Q2FY17 Q-o-Q 9MFY17 9MFY16 Y-o-Y Net Sales 75.65 49.61 80.37 219.27 170.02 Other Income 0.83 1.00 0.78 2.78 1.94 Total Revenue from 76.48 50.61 51.1% 81.15 -5.8% 222.05 171.96 29.1% Operations Cost of Material Consumed 50.38 34.08 52.
Slide 6: Product launches pipeline
Product launches pipeline New Capacity/ Description Products Current Capacity Status Expansion 3000 MTA Marginal Capex of Forward Integration Reactive Dyes (On stream in Jan 3000 MTA ~Rs 5Cr expected 2016) by Q4FY17 Expected by H – Acid 2,400 MTA 750 MTA Captive Q4FY17 Consumption in Dyes Plant Comm
Slide 7: Our New Reactive Dyes Plant
Our New Reactive Dyes Plant Capacity of 3000 MTA At Lote Parshuram, Maharashtra New Quality Control Laboratory Sales commenced in May 2016 7
Slide 8: Reactive Dyes… A Forward Integration
Reactive Dyes… A Forward Integration Reactive Dyes : a class of highly coloured organic substances, primarily used for dyeing textiles, for cellulosic fibers like cotton/flax & also wool that attach themselves to their substrates by a chemical reaction that forms a covalent bond between the molecule
Slide 9: Fertiliser - NPK
Fertiliser - NPK NPK fertilizer is primarily composed of three main elements: Nitrogen (N), Phosphorus (P), and Potassium (K) Company has received a license for manufacture of Mixed NPK Fertilizer NPK in the state of Maharashtra Sold under Marketing tie-up with DCM Shriram Capacity Launched
Slide 10: Fertiliser - Sulphate Of Potash (SOP)
Fertiliser - Sulphate Of Potash (SOP) As Fertiliser ₋ SOP is a preferred form of potassium in saline or sodic soil conditions and where irrigation water may have high chloride levels SOP Commercial Production at SOP plant commenced in the end of September 2016 Capacity ₋ Commissioned on 1st Augu
Slide 11: Future Growth Indicators
Future Growth Indicators Plant Commissioned Maintaining steady growth in Reactive Dyes current business • Capacity commissioned on 28th Consolidated business growth at a Jan 2016 CAGR of 19% over the past 5 years • Capacity – 3,000 MTA Plant Zero Commissioned Waste Environmentally Plant Chemical Con
Slide 12: Utilization of IPO Proceeds
Utilization of IPO Proceeds Total Objects of the Amount Spent/Utilisation Particulars (Rs Crs) issue as per Pending upto December 31th prospectus Utilisation 2016 Acquisition of Existing Factory at B-97, Lote 2.29 2.29 - Parshuram Construction of Godown at unit II 2.38 2.38 - Amount Spent for settin
Slide 13: Business Details
The chemistry Behind colours... Business Details 13
Slide 14: The Chemistry Behind Colours
The Chemistry Behind Colours India’s largest manufacturer of K Acid Established in 1993 as a Chemical Trading company Single location plant at Lote Parshuram Products across Dyes, Dye Intermediates, Acid Complex, Cattle Feed Supplement & Fertilizers Marketing through +300 dealers across Maharashtra,
Slide 15: Key Milestones
Key Milestones 2007 Recycling of effluents from Cattle Feed Dye 2002 Backward Intermediates 2010 Backward Integration for Division Entered New Acid Complex Integration In-house Raw SegmentEntered New Material & Cost Segment Efficiencies 2001 Dye Change of Zero Waste Chemical Focus from Intermediates
Slide 16: Single Location Plants in Lote Parshuram, Maharashtra
Single Location Plants in Lote Parshuram, Maharashtra New Reactive Dyes Plant Unit 1 – Dye Intermediates Unit 2– Granulation Plant Unit 3 Sulphuric Acid Plant New Quality Testing Lab for Dyes Only manufacturing unit with a basket of Dye-intermediates “One Stop Shop for Dye Manufacturers” 16
Slide 17: Key Management
Key Management Punit Makharia Chairman & Managing Director A first generation entrepreneur, he holds a Bachelors in Commerce with a rich business experience of over 2 decades in dealing with chemical and dyes intermediates Gautam Makharia Ratan Jha Dilip Shah R Purohit S N Sengupta Managing Director
Slide 18: Business Overview
Business Overview % of 9MFY17 Business Details Products Industries Revenue Verticals Products manufactured from Gamma Acid, K- Acid, R-Salt, Dye Manufacturers of 69% organic chemicals and are further Vinyl Sulphone, Meta Ureido Intermediates Synthetic Dyes processed to obtain dyestuff Aniline and H-
Slide 19: Dye Intermediates
Dye Intermediates One of the few manufactures of wide range of dye Product offerings for intermediates in India with zero waste Dyestuff State of art integrated manufacturing facilities located at Manufacturers Lote Parshuram, Maharashtra Gamma Total Capacity of 8,236 MTA Acid Meta Ureido Am
Slide 20: Dye Intermediates
Dye Intermediates 2001 – 2006 Inputs Purchased Final Output Production of Gamma Acid and K – Acid B-Napthol Gamma Acid Lower cost efficiencies due to Effluents generated K-Acid Effluents Generated 2006 – till date Creating a Waste to Wealth manufacturing R Salt model with smart use Meta Phenyl
Slide 21: Evolution Towards Cattle Feed and Fertiliser
Evolution Towards Cattle Feed and Fertiliser 2007 – till date Inputs Purchased Final Output Exclusive marketing arrangement with Shriram Chemical & Effluents Generated Fertilizers for Single Super Phosphate in Maharashtra and Di Calcium Karnataka Spent Acid Phosphate (From Dye Tie-up with Shivam
Slide 22: Evolution Towards Acid Complex and Power
Evolution Towards Acid Complex and Power 2009 – till date Inputs Purchased Final Output Sulphuric acid is a major raw material in solphonation in all chemical industry and Effluents Generated phosphoric acid industry Sulphuric Acid Capacity of 40,000 MTA Sulphur Spent Acid Oleums Excess Spent
Slide 23: Client Profile
Client Profile Domestic Clients International Clients Own Brand Exclusive marketing arrangement with DCM Shriram Chemical & Fertilizers for Single Super Phosphate in Maharashtra and Karnataka Tie-up with Shivam Chemicals for marketing of Di-Calcium Phosphate in Karnataka Launched its own soil
Slide 24: Key Strengths
Key Strengths Low Financial Leverage Zero Waste 05 01 Recycle of Effluents to A Zero Debt Company with generate new products Debt to Equity nearly NIL Single Location Plant 06 Internal Power Generation All Facilities within MIDC, 02 Use of High Pressure Steam Lote Parshuram, generated from Acid Plan
Slide 25: Financials
The chemistry Behind colours... Financials 25
Slide 26: Strong Financial Performance
Strong Financial Performance CAGR from FY12 to FY16 PAT EBITDA Total Revenue +18% +43% +14% CAGR CAGR CAGR Improved Margins up Margins up Product Mix from 12% to 14% from 4% to 9% Along with a strong Balance Sheet 26
Slide 27: Segmental Performance
Segmental Performance (Rs in Cr) Revenue +10% +22% 201.2 48.2 48.7 165.4 170.4 35.1 114.8 128.1 31.0 21.8 FY12 FY13 FY14 FY15 2016 FY12 FY13 FY14 FY15 FY16 Dye Intermediates Fertilisers -2% +21% 16.3 6.5 6.1 6.0 5.2 5.3 10.3 7.7 7.7 7.7 FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16 Acid Complex
Slide 28: Key Financial Parameters
Key Financial Parameters (Rs in Cr) Margin % 11.9% 13.2% 14.0% 11.9% 13.9% +14% +18% 267 251 31.8 34.9 210 29.4 177 23.3 151 17.9 FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16 Total Revenue from operations EBIDTA 9.6% 10.9% 11.8% 10.6% 12.4% 3.5% 4.1% 4.9% 7.0% 8.9% +21% 31.1 22.3 28.2 +43% 18.7
Slide 29: Key Financial Parameters
Key Financial Parameters (Rs in Cr) Net Debt ROE % 21.1% 16.3% 13.7% 13.7% 74 11.1% 53 58 22 -24 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16* Net Debt to Equity ROCE % 30.9% 30.6% 28.4% 25.4% 1.4 18.4% 1.2 0.9 0.3 -0.1 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-12 Mar-13 Mar-14
Slide 30: Historical Profit & Loss
Historical Profit & Loss Particulars (Rs. In Crs) FY16 FY15 FY14 FY13 FY12 Total Revenue 248.70 266.52 210.09 175.98 150.71 Other Income 2.54 0.29 0.28 0.59 0.26 Total Revenue from Operations 251.24 266.81 210.37 176.57 150.97 Raw Material 175.29 195.46 150.58 129.88 116.39 Employee Expenses 10.17 9
Slide 31: Balance Sheet
Balance Sheet Liabilities (Rs in Crs) Sept-16 Mar-16 Assets (Rs in Crs) Sept-16 Mar-16 Shareholders Fund 178.21 163.13 Total Non Current Assets 120.11 105.93 Share Capital 30.22 30.22 Fixed Assets (including 109.79 95.07 CWIP) Reserves & Surplus 147.99 132.91 Non Current Investments 0.05 0.05 Total
Slide 32: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Shree Pushkar Chemicals & Fertilisers Ltd Strategic Growth Advisors Pvt. Ltd. CIN: U24100MH1993PLC071376 CIN: U74140MH2010PTC204285 Mr. S N Sengupta, Associate Director Ms. Ruchi Rudra/ Ms. Samantha Francis sengupta@shre
Shree Pushkar Chemicals & Fertilisers — Q3 FY17 Earnings Presentation on 6ix