Navin Fluorine International Limited · NSE:NAVINFLUOR
Navin Fluorine International — Q2 FY2024 Earnings Presentation
33 slides from Navin Fluorine International's earnings presentation, Oct 31, 2023
Slide 1: Investor Presentation for Q2 & H1 FY2023-24 exchange cover letter
October 31, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (East), Mumbai 400001 Mumbai 400051 Scrip Code: 532504 Symbol: NAVINFLUOR EQ Dear Sir / Madam, Sub.: Investor Presentation for Q2 & H1 of
Slide 2: Investor Presentation - October 2023
Investor Presentation - October 2023
Slide 3: 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 4: Centenary birth year of Shri Arvind N. Mafatlal
Centenary birth year of the Shri Arvind N. Mafatlal Arvind N. Mafatlal Postal Stamp Prime Minister Shri. Narendra Modi released a special postal stamp in honour of industrialist and philanthropist Mr. Arvind Bhai Mafatlal to celebrate the centenary birth year of the late businessman and philanthropi
Slide 5: Q2 FY24 & H1FY24 Operational Performance
Q2 FY24 & H1FY24 Operational Performance
Slide 6: H1FY24 Performance at a glance
H1FY24 Performance at a glance Sales Operating EBITDA Operating EBITDA Margin H1FY24 Rs. 963 Crs Rs. 213 Crs 22.1% +17.9% +10.2% -155 bps Revenue Growth (Y-o-Y) Speciality HPP CDMO + 17.5% + 18.4% 18.0% • Consolidated Financials
Slide 7: Q2FY24 Sales Built-Up
Q2FY24 Sales Built-Up (Rs. Crs) Q2FY24 Highlights ~90-100 ~550-570 ▪ Sales lower than expected primarily due to: 48.2 471.8 238.1 o Slower stabilization of R32 plant o Progressive ramping up post June/ July shut down in HPP plant at Dahej o Sales of a campaign in CDMO deferred to 185.5 Q3FY24 due to
Slide 8: Q2FY24 – Operating Performance Highlights
Q2FY24 – Operating Performance Highlights Q2FY24 Highlights Operating EBITDA Operating PBT ▪ Operating EBITDA reduced by 154 bps on account of Margin 22.4% 20.8% Margin 17.2% 11.5% o Lost sales mentioned in previous slide 98 72 94 o One off expense of ~Rs. 6 Crs in Dahej on corrective measures 54 ▪
Slide 9: Business Vertical - Specialty Chemicals
Business Vertical - Specialty Chemicals Revenues Q2FY24 Highlights +4.6% 186 ✓ Sales impacted due to deferral of 2 campaigns at Dahej 177 ✓ Robust pipeline of new molecules (5 Molecules to be introduced in the next quarter – 2 at Dahej and 3 at Surat) Q2FY23 Q2FY24 ✓ Agro capex estimated to commissi
Slide 10: Business Vertical - HPP
Business Vertical - HPP Revenues Q2FY24 Highlights +24.0% ✓ R32 plant stabilized in mid September and is 238 operating to optimal capacity. Strong order pipeline 192 for coming quarters ✓ Pricing Pressure in Ref. Gas exports continues Q2FY23 Q2FY24 ✓ Plant at Dahej progressively ramping up post June
Slide 11: Business Vertical - CDMO
Business Vertical - CDMO Revenues Q2FY24 Highlights -3.1% ✓ Revenues in Q2FY24 were all from new molecules. Sales 50 48 from a campaign deferred to Q3FY24 ✓ Repeat orders for 2 large molecules moved from CY23 to CY24 Q2FY23 Q2FY24 ✓ cGMP4 detailed engineering progressing as per plan ✓ “Navin Molecul
Slide 12: Consolidated Profitability Statement
Consolidated Profitability Statement Particulars (Rs. Crs.) Q2 FY24 Q2 FY23 Y-o-Y Change % Q1 FY24 Q-o-Q Change % H1FY24 H1 FY23 Y-o-Y Change % Net Revenue from Operations 471.8 419.2 13% 491.2 -4% 962.9 816.7 17.9% Raw Material 202.0 183.58 202.7 404.7 365.9 Employee Expenses 60.9 57.22 79.2 140.0
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crs.) 30-Sep-23 31-Mar-23 EQUITY AND LIABILITIES (Rs. Crs.) 30-Sep-23 31-Mar-22 Non-current assets 2,578.5 2,144.8 EQUITY 2,266.2 2,184.9 Property, Plant and Equipment 1621.4 1471.8 Equity Share Capital 9.9 9.9 Capital work-in-progress 520.0 278.6 Right-of-use
Slide 14: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (Rs Crs.) 30-Sep-23 31-Mar-23 Cash flow from operating activities Profit before tax 159.0 495.9 Adjustments for noncash items 64.2 81.1 Operating profit before working capital changes 223.2 576.9 Working capital adjustments 274.8 -530.7 Cash flows generate
Slide 15: Standalone Profitability Statement
Standalone Profitability Statement Particulars (Rs. Crs.) Q2 FY24 Q2 FY23 Y-o-Y Q1 FY24 Q-o-Q H1FY24 H1 FY23 Y-o-Y Net Revenue from Operations 314.8 366.4 -14% 350.7 -10% 665.5 753.2 -12% Raw Material 141.6 161.7 145.4 287.0 337.6 Employee Expenses 39.0 46.9 58.7 97.7 90.9 Other Expenses 73.3 67.9 6
Slide 16: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crs.) 30-Sep-23 31-Mar-22 EQUITY AND LIABILITIES (Rs. Crs.) 30-Sep-23 31-Mar-22 Non-current assets 1,433.8 1,380.7 EQUITY 2,217.5 2,141.0 Property, Plant and Equipment 582.5 414.7 Equity Share Capital 9.9 9.9 Capital work-in-progress 44.5 153.6 Right-of-use Asset
Slide 17: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (Rs Crs.) 30-Sep-23 31-Mar-23 Cash flow from operating activities Profit before tax 154.4 418.2 Adjustments for noncash items 4.0 30.7 Operating profit before working capital changes 158.4 448.9 Working capital adjustments 183.9 -189.1 Cash flows generated f
Slide 18: Consistent Dividend Performance
Consistent Dividend Performance Dividend as % of Face Value Payout % Special Final Interim 750% 600% 550% 550% 550% 500% 150% 600% 150% 390% 350% 400% 300% 300% 315% 150% 75% 200% 180% 210% 160% 160% 400% 140% 150% 150% 130% 110% 65% 75% 85% 85% 250% 250% 250% 250% 75% 85% 190% 170% 85% 100% 110% 65
Slide 19: Navin Fluorine at a glance
PADMANABF MAFATLAL, GROUP.
Slide 20: Navin Fluorine – Trusted Global Partner
Navin Fluorine – Trusted Global Partner 01 One of the most respected Global Players in specialty fluorochemicals 02 Trusted partner to global Life science, Crop Science and Performance Material companies 03 Successful track record of disciplined execution Witnessing an exciting growth phase, making
Slide 21: Navin Fluorine at a glance
Navin Fluorine at a glance Manufacturing plants strategically located closer to major ports Strong global partners including pharma and Agro Innovators One of Largest Integrated Specialty Fluorochemical company in India Over 50 years of expertise in Handling Fluorine Built “India’s only plant with h
Slide 22: Integrated Business Model
Integrated Business Model • Chemical Complex at Surat spread over 135 • Backward integration for Raw material acres, houses Refrigerant, Inorganic & through 25% JV partner in the only Specialty Chemicals Plants Fluorspar beneficiation company in India • cGMP Compliant facility for CDMO in • Diversif
Slide 23: Reinforcement of Trust
Reinforcement of Trust Delivering on the 3P Strategy (Product, Platform and Partnerships) through New Capex Programs $410 Mn Multi Year Contract in High Beginning of New Partnership in agrochemicals Performance Product (HPP) backed by multi year supply contract Launch of new products in Manufacturin
Slide 24: Journey of Transformation continues…
Core Business Strategy Valuable and Presence into High- Customer’s clear Dependable demand specialized choice - Strong pillar Fluorochemical product basket of Partnership Company Increase share of CDMO & Innovation & Change growth Investment In MPP (Multi Specialty which now - Moving into the new Hi
Slide 25: ESG represents the foundation of our business
ESG represents the foundation of our business
Slide 26: Our Approach to Sustainability
Our Approach to Sustainability Approach Environment Social Governance ✓ Effective control systems ✓ Workforce ✓ Board of Directors ✓ Reducing greenhouse gas ✓ Customer and Vendors ✓ Integrity Emissions ✓ Community ✓ Long Term ✓ Compliance ✓ Managed Expansion ✓ Audit ✓ Brand 25 25
Slide 27: Our Environment Conservation initiatives
Our Environment Conservation initiatives Reduce Zero Liquid Discharge (ZLD) Restore Reuse o We have Renewable Energy o Our Dewas unit’s zero liquid o Our Dewas unit participated in one of our sites and is in discharge facility utilises treated in Green Mahotsav by the o We are supplying some of its
Slide 28: Our Social initiatives
Our Social initiatives 1413 Full time employees as on March 23 846 Customers Workforce & Community Active Customers as on March 23 Vendors Rs. 60 L Investment in Training & Awareness Strategic investments in its workforce, Strengthened engagements with Sustained stable engagements with communities s
Slide 29: Governance Best Practice
Governance Best Practice Governance Programme Composition of Committees Out of four Members of Nomination Structured policies and processes and Remuneration Committee, addressed investor grievances three are Independent and one Non- Reported NO Executive ✓ Defaults for repayments, creditors, Accepte
Slide 30: Balanced Board with Experience and Expertise
Balanced Board with Experience and Expertise Board Demographics meetings Board Independence during Highly FY2023 engaged 9 of 13 Board 17 Directors actively involved in NFIL’s 69% are Board Committee strategic transformation Independent 8 68 years median Board director's age Highly Experienced Board
Slide 31: Board of Directors
Diversity of thought and experience Mr. Vishad P. Mafatlal (Chairman) Mr. Atul K. Srivastava (Independent Director) He is an industrialist having varied experience of over 26 Years in the field of Textiles and Chemicals. He holds a Bachelor of He has an experience of over 46 years in large corporate
Slide 32: Strengthening Community Engagement at Navin Fluorine
Strengthening Community Engagement at Navin Fluorine 6.15 Crores Total CSR expenditure for the year ended March 31, 2023 Touched and improved more than 84,000 lives through community development initiatives Contribution made towards the above trusts and activities SHRI SADGURU SEVA SANGH CHARUTAR AR
Slide 33: Thank You Note
Thank You Note For further information, please contact: Company : Investor Relations Advisors : Navin Fluorine International Ltd. Orient Capital (a division of Link Group) CIN : L24110MH1998PLC115499 Ms. Payal Dave +91 9819916314 Mr. Anish Ganatra payal.dave@linkintime.co.in Chief Financial Officer
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