Punjab Chemicals & Crop Protection Ltd. · NSE:PUNJABCHEM
Punjab Chemicals & Crop Protection — Q3 FY24 Earnings Presentation
32 slides from Punjab Chemicals & Crop Protection's earnings presentation, Feb 6, 2024
Slide 1: Stock exchange filing cover letter
Date: 6th February, 2024 BY E FILING The Manager The Manager Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited MUMBAI-400 001 MUMBAI-400 051 Re: BSE Scrip Code: 506618 NSE Scrip Symbol: PUNJABCHEM Sub: Investor Presentation - Financial Overview
Slide 2: Q3 & 9M FY24 Result Presentation
Q3 & 9M FY24 Result Presentation February 2024
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Punjab Chemicals and Crop Protection Ltd (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subsc
Slide 4: Table of Contents
Table of Contents 01 Result Highlights 02 Company Overview 0 03 Business Strategy 04 Agrochemicals Industry Overview 05 Performance Track Record
Slide 5: Result Highlights
Result Highlights
Slide 6: Result Highlights
Result Highlights Q3 FY24 9M FY24 ₹ 214 Cr ₹ 26 Cr ₹ 11 Cr ₹ 738 Cr ₹ 100 Cr ₹ 51 Cr Revenue EBITDA PAT Revenue EBITDA PAT • Registered a Revenue of ₹ 214 Cr in Q3 FY24 and for 9M FY24 at ₹ 738 Cr, pricing pressure in certain markets led to discounted sales. • Gross Margin at 41.4% for the quarter i
Slide 7: Q3 FY24 Financial Performance
Q3 FY24 Financial Performance REVENUE GEOGRAPHICAL SPLIT -17.8% 261 214 Domestic 156 103 261 214 International 105 111 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 EBITDA & EBITDA MARGIN PAT & PAT MARGIN 13.4% 12.2% 7.7% 5.2% -25.6% -44.3% 35 20 26 11 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 YoY Comparison (In ₹ cr, exce
Slide 8: 9M FY24 Financial Performance
9M FY24 Financial Performance REVENUE GEOGRAPHICAL SPLIT -9.1% 811 738 Domestic 471 356 811 738 International 340 382 9M FY23 9M FY24 9M FY23 9M FY24 EBITDA & EBITDA MARGIN PAT & PAT MARGIN 12.5% 13.5% 7.1% 6.9% -1.5% -11.6% 101 100 58 51 9M FY23 9M FY24 9M FY23 9M FY24 YoY Comparison (In ₹ cr, exce
Slide 9: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (In ₹ Cr) Q3 FY24 Q3 FY23 YoY % Q2 FY24 QoQ % 9M FY24 9M FY23 YoY% Revenue 214.1 260.5 -17.8% 242.2 -11.6% 737.7 811.2 -9.1% COGS 125.6 165.8 143.8 451.5 516.8 Gross Profit 88.6 94.6 98.3 286.2 294.4 Gross Profit Margin % 41.4% 36.3% 40.6% 38.8% 36.3%
Slide 10: Company Overview
Company Overview
Slide 11: Our Company
Our Company Established in 1975 as Punjab United Pesticides & Chemical Ltd (PUPCL), the company has now evolved into Punjab Chemicals and Crop Protection Ltd. We have separate synergistic Agrochemicals, Pharmaceuticals and Industrial chemical divisions with state-of-the-art manufacturing facilities
Slide 12: Our multi-decade story of growth and value-creation
Our multi-decade story of growth and value-creation Punjab United Pesticides & The Company established a Chemicals Limited was new manufacturing facility The Company extended established as a collaboration The Company diversified its (pharmaceutical product) into contract research and between Excel
Slide 13: Manufacturing Process
Manufacturing Process 2 Manufacturing facilities at Derabassi & Lalru in Punjab || 1 facility in Pune, Maharashtra with food grade certification. Derabassi & Lalru plants are certified with ISO 9001:2015 , ISO 14001:2015 and ISO 45001:2018. Pune unit is certified with GMP & ISO 22000 Total Reactor C
Slide 14: Synergistic Product Portfolio
Synergistic Product Portfolio Divisions Major chemistries Product Category ▪ Friedel craft ▪ Chlorination ▪ Hydrazine Fungicide, Herbicide. Manufacturing ▪ Hetrocyclic Agrochemicals/ Intermediates ▪ Oxidation patented products under long term ▪ Bromination ▪ Benzylation agreement/ in-house R&D ▪ Met
Slide 15: Annual Production (MT) & Capacity Utilisation (%)
Annual Production (MT) & Capacity Utilisation (%) Derabassi Lalru 82% 73% 80% 85% 75% 71% 60% 71% 73% 70% 54% 49% 1,610 23,797 24,338 1,391 1,402 1,345 19,914 17,543 17,497 17,444 1,143 778 FY19 FY20 FY21 FY22 FY23 9M FY24 FY19 FY20 FY21 FY22 FY23 9M FY24 Note : New products have been commercialized
Slide 16: R&D Capabilities
R&D Capabilities Our R&D talent pool 1 Advanced R&D facility at both Derabassi & Lalru 2 Both facilities have kilo lab & pilot plants for scale up & 27 commercial trials. Strength of R&D Team 3 Adding new chemistry skill set 35 Strength by FY24 4 ~40% of the new enquiries from non-agchem space 5 In-
Slide 17: Growth Triggers
Growth Triggers Existing products New products Agro Speciality Backward Improvement in New Chemicals Chemicals New Markets Integration Efficiency Registration • Commercial Order received for some “Advanced Intermediates” and “Speciality Chemicals”, and supplies have begun. Long terms contracts being
Slide 18: Environment, Health & Safety Measure
Environment, Health & Safety Measure Upgraded Effluent Treatment Plant at Plants equipped with Derabassi and facility is being occupational health facilities, 1 upgraded to more efficient system 5 professional trained staff and with latest technology instituted practices. Member of new Common Strong
Slide 19: Our Global Clientele
Our Global Clientele Target regions for next leg of growth: Latin America, South Asia, European Union The brand names /logos mentioned are the property of their respective owners and are used here for identification purpose only 18
Slide 20: Leadership Team: Board of Directors
Leadership Team: Board of Directors Board Composition Mr. Mukesh D. Patel Mr. Shalil Shroff Mr. Vijay Rai Chairman & Managing Independent Independent Director Director Director More than 50% of 55% the Board members are Independent Directors Ms. Tara Ms. Aruna Bhinge Mr. Sheo Prasad Subramaniam Inde
Slide 21: Leadership Team: Key Management Team
Leadership Team: Key Management Team Mr. Vinod Gupta Mr. Ashish Nayak Ms. Rishu Chatley Dr. Vijay Kaushik Chief Executive Officer Chief Financial Officer Company Secretary Assistant Vice President- R & D • Chemical Engineer, IIT-B & PGPX, IIM-A • Chartered Accountant and has a bachelor degree of • M
Slide 22: Business Strategy
Business Strategy
Slide 23: Business Model
Business Model Identify Niche Products/ Customers Partner for Contract Manufacturing with Basket of Products Target niche products with high growth potential. Offer attractive and cost- effective solution Target clients - Global Agrochemical/ Specialty Long term engagement favorable for both parties
Slide 24: Strategic Advantage
Strategic Advantage Manufacturing and Consistent Low-Cost Operator R&D Capability Track Record Developed an efficient cost Availability of technically Historical association with competitive process over the trained manpower , Domestic clients helped last decade and are extra production capacity to
Slide 25: Corporate Social Responsibility
Corporate Social Responsibility
Slide 26: CSR Initiatives
CSR Initiatives PCCPL CSR Initiatives are in below three areas to enhance Society Connect & ensures real impact on Beneficiaries. Education Health Awareness Community Development 25
Slide 27: Agrochemicals Industry Overview
Agrochemicals Industry Overview
Slide 28: Indian Agrochemicals Industry – Long Term Perspective & Way Forward
Indian Agrochemicals Industry – Long Term Perspective & Way Forward • The Indian Agrochemical market size is estimated to reach $13.08 bn in 2029, Outlook of pesticides production for technical grade ('000 tonnes) growing at a CAGR of 4% • India ranks 4th in terms of production and exports of agroch
Slide 29: Performance Track Record
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Slide 30: Performance Track Record
Performance Track Record Revenue (₹ cr) EBITDA (₹ cr) PAT (₹ cr) +16.6% +38.1% 84 +11.8% 1,006 140 933 123 61 643 678 96 49 550 66 42 17 11 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Revenue Split (₹ cr) EBITDA Margin (%) PAT Margin (%) Domestic Export 1,006 15.0 933
Slide 31: Performance Track Record
Performance Track Record Capital Structure (₹ cr) Working Capital Analysis (₹ cr) D/E 1.0x 0.9x 0.6x 0.4x 0.3x 52 32 45 44 36 89 95 85 82 92 87 68 81 91 88 281 -80 226 -100 -85 -103 -102 145 91 98 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Debt Equity Receivable Days Inventory Days Payable Da
Slide 32: Thank You
Mr. Ashish Nayak Chief Financial Officer investorhelp@punjabchemicals.com Mr. Sumeet Khaitan Thank You sumeet.khaitan@linkintime.co.in +91 70213 20701 Mr. Bhavya Shah bhavya.shah@linkintime.co.in +91 80827 48577
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