Dharmaj Crop Guard Ltd. · NSE:DHARMAJ
Dharmaj Crop Guard — Q3 FY2023 Earnings Presentation
35 slides from Dharmaj Crop Guard's earnings presentation, Feb 13, 2023
Slide 1: Investor Presentation Q3FY23
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Slide 2: Inside
Inside 4-13 15-17 19-20 22-25 27-28 30-34 DHARMAJ CROP GUARD LIMITED
Slide 3: Corporate Overview
Corporate Overview Company overview 4 Company snapshot 5 Our journey 6 Diversified Product portfolio 7 Branded Products 8 1 Diversified Revenue stream 9 Manufacturing facility with Strong 10 R&D Capabilities Established Distribution Network 12 Institutional Clientele 13 DHARMAJ CROP GUARD LIMITED
Slide 4: Company Overview
COMPANY 4 OVERVIEW To be completely integrated across value chain post backward integration DCGL’s positioning across Agri-value chain which is expected to Dharmaj Crop Guard Limited commission in Q3FY24 (‘DCGL’), incorporated in 2015, is an Agrochemical Company engaged in the business of manufactur
Slide 5: Company Snapshot
COMPANY 5 SNAPSHOT 20+ years 4,500+ 26+ countries Of average promoter & management expertise with dealers/distributors Exporting in Latin America, East experience in leading agrochemical Companies In 20 states with 16 stock depots Africa, Middle east and Far East Asia 41% 79% 25,500 MT Revenue CAGR
Slide 6: Our Journey
OUR 6 JOURNEY 2016 2018 2019 MANUFACTURING ISO CERTIFICATE EXPANSION & GROWTH • Established Receipt of ISO 9001:2015,ISO • Acquired land on lease in Ahmedabad for expansion manufacturing unit 14002:2015 and ISO 45001:2018 for • Crossed turnover of ₹1,000.00 Mn in Ahmedabad development and manufactur
Slide 7: Diversified Product Portfolio
DIVERSIFIED 7 PRODUCT PORTFOLIO Our Product Portfolio Insecticide Herbicides Fungicides Micro-Fertilizers Plant Growth Regulator Antibiotics • Imidacloprid • Pendimethalin • Mancozeb • Sulphur • Amino Acids • Validamycin • Alpha • Metribuzin • Chlorothalonil • Micro- • Ethephon Cypermethrin • Glypho
Slide 8: Branded Products
BRANDED 8 PRODUCTS Branded Products Wide range of branded products DHARMAJ CROP GUARD LIMITED
Slide 9: Diversified Revenue Stream
DIVERSIFIED 9 REVENUE STREAM Diverse Revenue Streams Revenue Institutional Products Branded Products Segmentation • Our institutional business • Since incorporation, we have built Segmentation of Revenue as Product Segments is one of our key business area, we sell several strong brands by leveraging
Slide 10: Manufacturing Facility with Strong R&D Capabilities (1/2)
MANUFACTURING FACILITY WITH Manufacturing 10 STRONG R&D CAPABILITIES (1/2) strengths Manufacturing facility enables diversifying product range and high-quality production • Our manufacturing facility is fully integrated formulation facility with processes starting from procurement of raw materials,
Slide 11: Manufacturing Facility with Strong R&D Capabilities (2/2)
MANUFACTURING FACILITY WITH 11 STRONG R&D CAPABILITIES (2/2) Total Capacity (in MT) 25,500 Solar Power Plant Wastewater Treatment We have installed solar panels at 85,320 KW We also have installed wastewater/ 7,800 11,400 our manufacturing facility, which sewage treatment plant at our KL 9,150 allow
Slide 12: Established Distribution Network
ESTABLISHED 12 DISTRIBUTION NETWORK Geographical Reach • We export our products across 26 countries in Latin America, East African Countries, Middle East and Far East Asia. • We currently sell our branded products pan India through our Way ahead distribution network comprising • We intend to continu
Slide 13: Institutional Clientele
INSTITUTIONAL CLIENTELE 13 Strong institutional customer base including crop protection product manufacturing companies DHARMAJ CROP GUARD LIMITED
Slide 14: Industry Opportunity
Industry Opportunity Well-defined and Continuously Expanding Market 15 Expansion through Pyrethroids Industry 17 DHARMAJ CROP GUARD LIMITED 2
Slide 15: Well-defined and Continuously Expanding Market (1/2)
WELL-DEFINED AND CONTINUOUSLY 15 EXPANDING MARKET (1/2) Global agrochemicals market overview Asia Pacific will continue to be the largest market with a CAGR of 3.4%–3.7% until FY24 Global Pesticides Market Region-wise share of global pesticides market (USD billion) C A GR 4% 4% % % - 1.8 Asia Pacifi
Slide 16: Well-defined and Continuously Expanding Market (2/2)
WELL-DEFINED AND CONTINUOUSLY 16 EXPANDING MARKET (2/2) Pesticides Industry in India Share of Pesticides Industry in India Indian Pesticides and other Agrochemicals industry Segment-wise share of agrochemicals (FY21) Segment-wise share of agrochemicals (FY24E) (USD billion) 4% 4% GR CA % - 5.7 18% 1
Slide 17: Expansion through Pyrethroids Industry
EXPANSION THROUGH 17 PYRETHROIDS INDUSTRY (2/2) Demand backed by Agricultural Requirements, Share of User Industries in Global Pyrethroids Global Pyrethroids market by Product type Public health and animal health needs market (FY20E) Global Pyrethroids Market (USD Mn) Cypermethrin R 4% Lambda-Cyhalo
Slide 18: Team & BOD
Team & BOD Board of Directors 19 Management Team 20 DHARMAJ CROP GUARD LIMITED 3
Slide 19: Strong Board
IMPECCABLE MANAGEMENT PEDIGREE 19 STRONG BOARD 20+ years Of promoter and management expertise Mr. Rameshbhai Mr. Jamankumar Mr. Jagdishbhai Mr. Deepak Mr. Bhaveshkumar Ms. Amisha Fenil Shah Ravajibhai Talavia Hansarajbhai Talavia Ravjibhai Savaliya Bachubhai Kanparia Jayantibhai Ponkiya Independent
Slide 20: Experienced Management
IMPECCABLE MANAGEMENT PEDIGREE 20 EXPERIENCED MANAGEMENT 20+ years KEY MANAGEMENT PERSONNEL SENIOR MANAGEMENT PERSONNEL Mr. Rameshbhai Ravajibhai Talavia Mr. Kalpesh C. Patel Chairman and Managing Director Senior Manager Accounts He holds a Bachelors degree in agriculture and possesses over 28 years
Slide 21: Strategic Initiatives
Strategic Initiatives Enhance our capabilities through Backward Integration 22 Expansion of public health & Animal health product segment 23 Expansion of Customer Base in domestic and international markets 24 Strengthening the business through Brand building activities 25 DHARMAJ CROP GUARD LIMITED
Slide 22: Enhance Our Capabilities through Backward Integration
ENHANCE OUR CAPABILITIES THROUGH 22 BACKWARD INTEGRATION Enhance our manufacturing capabilities through backward integration and expand our product portfolio Going Forward We are planning to manufacture Agrochemical Technicals and its Status of our ongoing future intermediates which will be used for
Slide 23: Expansion of Public Health & Animal Health Product Segment
EXPANSION OF 23 PUBLIC HEALTH & ANIMAL HEALTH PRODUCT SEGMENT Expanding our Public Health and Our strategic approach Animal Health product segment We intend to supply our As part of our further Further, the Technicals • As part of our further growth strategy, we intend to increase manufacturing and
Slide 24: Expansion of Customer Base in Domestic and International Markets
EXPANSION OF CUSTOMER BASE IN 24 DOMESTIC AND INTERNATIONAL MARKETS Targeting new customers, expanding existing * Factors justifying the desired strategy Strategic plans that will customer business and increase our market share Indian Pesticides and other Agrochemicals industry help us attain the in
Slide 25: Strengthening the Business through Brand Building Activities
STRENGTHENING THE BUSINESS THROUGH 25 BRAND BUILDING ACTIVITIES Strengthening up our business through effective Strategic Investment in Brand Building Activities branding, promotional and digital activities Advertising Expenditure (₹ Mn) The Company has been making significant investments in brand b
Slide 26: Q3FY23 Performance Highlights
Q3FY23 Performance Highlights Q3FY23 Income Statement 27 Management Commentary 28 DHARMAJ CROP GUARD LIMITED 5
Slide 27: Q3FY23 Income Statement
Q3FY23 Income Statement (₹ Mn) Particulars Q3FY22 Q2FY23 Q3FY23 YOY 9MFY22 9MFY23 YOY Change (%) Change (%) Revenue from Operations 1,071.20 2,217.40 1,010.70 -6% 2,929.45 4,598.77 57% Total Income 1,075.43 2,225.11 1,016.21 -6% 2,940.36 4,613.09 57% Total Operating Expenses 941.79 1,989.15 923.83 -
Slide 28: Management Commentary
MANAGEMENT 28 COMMENTARY Firstly, I would like to take this opportunity to thank all our investors who have reposed their faith in our Company during the IPO. We are really grateful to all of you and promise to deliver sustainable value to all our stakeholders. The third quarter is a seasonally weak
Slide 29: Financial Performance
Financial Performance Income Statement 30 Balance Sheet 32 DHARMAJ CROP GUARD LIMITED 6
Slide 30: Income Statement (1/2)
INCOME 30 STATEMENT (1/2) (₹ Mn) Particulars FY19 FY20 FY21 FY22 9MFY23 INCOME Revenue from Operations 1,393.56 1,982.22 3,024.10 3,942.08 4,598.77 Other Income 5.96 9.43 11.55 20.80 14.31 Total Income 1,399.52 1,991.65 3,035.65 3,962.88 4,613.09 EXPENSES Cost of material consumed 1,099.66 1,566.53
Slide 31: Income Statement (2/2)
INCOME 31 STATEMENT (2/2) (₹ Mn) Particulars FY19 FY20 FY21 FY22 9MFY23 Tax Expenses Current tax 20.76 37.78 69.92 101.09 109.74 Tax (Excess)/ Short Provision - 0.00 (0.03) - (0.04) Deferred tax liability/ (asset) (1.04) (0.75) 2.41 (2.69) (1.12) Total tax expenses 19.72 37.03 72.32 98.41 108.59 Pro
Slide 32: Balance Sheet (1/2)
BALANCE 32 SHEET (1/2) (₹ Mn) Particulars FY19 FY20 FY21 FY22 ASSETS NON-CURRENT ASSETS Property, plant and equipment 115.54 216.93 386.72 389.34 Capital work in progress - 23.17 11.40 176.52 Intangible asset 1.07 1.21 4.21 11.24 Financial assets (i) Investments - - - 4.89 (i) Other Financial Assets
Slide 33: Balance Sheet (2/2)
BALANCE 33 SHEET (2/2) (₹ Mn) Particulars FY19 FY20 FY21 FY22 EQUITY AND LIABILITIES EQUITY Equity share capital 20.00 164.56 164.56 246.83 Other equity 85.25 189.73 398.89 602.35 TOTAL EQUITY 105.25 354.29 563.44 849.18 LIABILITIES NON-CURRENT LIABILITIES Financial liabilities (i) Borrowings 171.90
Slide 34: Safe Harbour
SAFE HARBOUR 34 No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after
Slide 35: Contact Us
FOR MORE INFORMATION CONTACT US DHARMAJ CROP GUARD LIMITED Mr. Vinay Joshi Chief Financial Officer cfo@dharmajcrop.com 079 2960 3735 W: www.dharmajcrop.com TIL ADVISORS PRIVATE LIMITED Investor Relations Advisor Mr. Sayam Pokharna Director sayam@theinvestmentlab.in +91 94266 60791 DHARMAJ CROP GUARD