Bhageria Industries Ltd. · NSE:BHAGERIA
Bhageria Industries — Q2 FY22 Earnings Presentation
25 slides from Bhageria Industries's earnings presentation, Nov 1, 2021
Slide 1: Filing cover letter to NSE and BSE
BHAGERIA INDUSTRIES LIMITED Tel. : 91-22-4043 6666 REGO. OFF.: OFFICE NO. 1002, 10TH FLOOR, TOPIWALA CENTRE, OFFS. V. ROAD, Email : info@bhageriagroup.com NEAR GOREGAON RAILWAY STATION, GOREGAON (WEST), MUMBAI - 400 062. Website : www.bhageriagroup.com CIN: L40300MH1989PLC052574 Date: November 1, 20
Slide 2: Investor Presentation Q2 & H1 FY22
Bhageria Industries Ltd. Investor Presentation Q2 & H1 FY22
Slide 3: Consolidated Financial Highlights
Consolidated Financial Highlights 2
Slide 4: Financial highlights
Financial highlights Revenue (Rs Cr) EBITDA (Rs Cr) & EBITDA Margin PAT (Rs Cr) & PAT Margin 23.8% 18.1% 15.3% 10.7% Quarterly Highlights 141 25 26 16 15 106 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 23.9% 18.8% 13.8% 11.0% 254 48 28 Half Yearly Highlights 38 22 158 H1 FY21 H1 FY22 H1 FY21 H1
Slide 5: Profit & loss statement – Q2 FY22 & H1 FY22
Profit & loss statement – Q2 FY22 & H1 FY22 Rs Cr Q2 FY22 Q2 FY21 YoY H1 FY22 H1 FY21 YoY Net Sales 141 106 33.7% 254 158 61.1% -Chemical 134 100 235 144 • Higher volumes led to -Solar 6 6 14 14 increase in revenues by 34% -Others 2 0 6 on Y-o-Y basis Cost of Goods Sold 89 61 158 90 • However, there
Slide 6: Balance Sheet as on 30th Sept'21
Balance Sheet as on 30th Sept’21 Rs Cr Sept’21 Mar’21 Rs Cr Sept’21 Mar’21 Share Capital 21.8 21.8 Fixed Assets incl. CWIP 376.3 365.1 Reserves 442.6 429.9 Non-Current Investments 0.5 0.5 Shareholders' Funds 464.5 451.7 Other Financial Assets 3.5 2.8 Long Term Borrowings 0.0 0.0 Other Non Current As
Slide 7: Competitive Strengths
Competitive Strengths 6
Slide 8: Leading manufacturer of dye intermediates
Leading manufacturer of dye intermediates One of the top 3 producers Backward integrated into ~14,000 TPA capacity of H-Acid & Gamma Acid acid manufacturing in India 300 TPD Sulphuric Acid Capacity Achieving optimum capacity Zero discharge Shipping to 10+ countries utilization of 85%+ manufacturing
Slide 9: With margin leadership in the industry
With margin leadership in the industry EBITDA Margins – Chemical biz ROCE of Chemical Segment – 22.6% 25.0 24.7 Rs Cr Company FY21 Chemical Biz. FY21 20.1 21.8 Net Sales 402 369 EBITDA 104 91 FY18 FY19 FY20 FY21 EBITDA margin 25.8% 24.7% Depreciation 26 11 » High capacity utilization – 85%+ » Sourci
Slide 10: And strong financial base to drive growth
And strong financial base to drive growth Operating Cash Flow (Rs Crore) OCF/EBITDA (%) 110% 137 60% 56% 56% 50% 59 58 40 27 FY18 FY19 FY20 FY21 H1 FY22* FY18 FY19 FY20 FY21 H1 FY22* Strong cash flow from operations to help fund growth opportunities * As on 30th Sept’21 9
Slide 11: Long term debt free, net cash company
Long term debt free, net cash company Total Debt (Rs Crore) Cash and Equivalents (Rs Crore) Net Cash (Rs Crore) 83.4 75.6 52.1 38.7 61.0 58.8 49.5 27.4 20.5 4.3 41.2 34 -21.0 45.2 31.4 23 20.7 10.7 Mar'18 Mar'19 Mar'20 Mar'21 Sept'21 Mar'18 Mar'19 Mar'20 Mar'21 Sept'21 Mar'18 Mar'19 Mar'20 Mar'21 Se
Slide 12: High returns ratios
High returns ratios Return on Equity (%) Return on Capital Employed (%) 27.7% 22.4% 19.7% 17.7% 18.1% 14.4% 14.8% 14.6% FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Consistent high return ratios reflecting strong business efficiencies 11
Slide 13: Supplemented by a stable annuity solar business
Supplemented by a stable annuity solar business » 25 year PPA with Solar Energy » 25 year PPA with Asahi India Corporation of India (SECI) Glass Ltd, TRIL Ltd, Lucas Ltd & 30MW solar project 4MW rooftop in Maharashtra » Capacity - 30MW solution Kajaria Ceramics Ltd (commissioned in » Tariff – Rs 4.4
Slide 14: Well laid out capex plan, funded through internal accruals
Well laid out capex plan, funded through internal accruals Expansion in Enhancing Manufacturing Backward dye power of pigments integration intermediates capacities intermediates Total Planned Increase power Manufacture capacity to 8,000 Capex of Sulphuric Acid & Exploring new ~Rs. 130 crore J – acid
Slide 15: Company Overview
Company Overview 14
Slide 16: Promoters with significant industry experience
Promoters with significant industry experience Suresh Bhageria Chairman • Has experience of more than 30 years in the Dyes & Dyes Intermediates Industry of Drugs and Pharmaceuticals • Holds a degree in Bachelor of Commerce Vinod Bhageria Managing Director • Has experience of more than 30 years in th
Slide 17: Represented by a robust board of directors
Represented by a robust board of directors Mukund Chitale Ameya Jadhav Independent Director Independent Director Experience of more than 10 years in teaching A renowned CA with over 40 years of and social organizations experience Surendra Gupta G.D. Yadav Independent Director Independent Director Ha
Slide 18: Strong global footprint
Strong global footprint India Germany Spain Japan South USA Korea China Taiwan Mexico Thailand Indonesia Brazil Turkey 27% Revenue contribution from exports in H1 FY22 17
Slide 19: Supported by strong and capable R&D team
Supported by strong and capable R&D team • Optimization of process chemistry to achieve the highest chemical efficiency • New product development and product purity whilst minimizing effluent production Key Focus • Continued focus on improving the • New application for existing products product qual
Slide 20: Nurturing social responsibility
Nurturing social responsibility Health & Safety Education Rural Development Promoting Health care Contribution for Expansion of including preventive health School/College at Mulund East, Ekal Abhiyan for upliftment care & Health Cheakup Raosaheb Balaram Dnyandeo of tribals Camps Thakur Vidyamandir F
Slide 21: Giving back to stakeholders
Giving back to stakeholders Dividend (% of Face Value) 110.0% 100.0% 97.5% Consistent Dividend 70.0% Payout 60.0% 50.0% 50.0% 35.0% 2014 2015 2016 2017 2018 2019 2020 2021 20
Slide 22: Historical Financial Highlights
Historical Financial Highlights 21
Slide 23: Growth with operational efficiency
Growth with operational efficiency Revenue (Rs Cr) EBITDA (Rs Cr) PAT (Rs Cr) 462 71 414 125 66 63 402 367 104 98 80 40 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 EBITDA Margin (%) PAT Margin (%) 27.0% 25.8% 23.6% 21.8% 15.5% 15.9% 15.6% 11.0% FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21
Slide 24: Consolidated annual profit & loss statement
Consolidated annual profit & loss statement Rs Cr FY21 FY20 FY19 Net Sales 402 414 462 -Chemical 369 373 429 -Solar 30 31 33 -Others 3 10 - Cost of Goods Sold 220 244 271 Employee Benefit Expense 19 16 13 Other Expenses 60 56 53 Total Expenses 298 316 338 EBITDA 104 98 125 EBITDA margin 25.8% 23.6%
Slide 25: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Bhageria Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any