Refex Industries Limited · NSE:REFEX
Refex Industries — Q1 FY25 Earnings Presentation
53 slides from Refex Industries's earnings presentation, Aug 5, 2024
Slide 1: Cover letter to stock exchanges: Investor Presentation on Q1FY25 results
August 05, 2024 The BSE Ltd. The National Stock Exchange of India Ltd. 1st Floor, New Trading Wing, Rotunda Exchange Plaza, 5th Floor, C – 1, Block G Building Phiroze Jeejeebhoy Towers, Bandra – Kurla Complex, Bandra (E) Mumbai Dalal Street, Fort Mumbai – 400001 – 400051 Scrip Code: 532884 Symbol: R
Slide 2: Refex Industries Limited Q1 FY25 Investor Presentation
Refex Industries Limited Q1 FY25 Investor Presentation
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation and the accompanying slides (the Presentation), which have been prepared by Refex Industries Limited (Refex, The Company) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities
Slide 4: Index
Index Contents Page No. Company Overview 4 Business Overview 13 Management Overview 26 Industry Overview 31 Q1 FY25 Financial Highlights 35 Standalone Financial Overview 39 The Way Ahead 49 Investor Presentation 3
Slide 5: Company Overview
Company Overview
Slide 6: Refex Industries: Spearheading Exponential Growth in Sustainable Solutions
Refex Industries: Spearheading Exponential Growth in Sustainable Solutions Refex Industries Limited (Refex, The Company), established in 2002 and headquartered in Chennai, is dedicated to advancing sustainability in India. With a diverse portfolio encompassing Ash & Coal Handling, Refrigerant Gases,
Slide 7: Insights into Refex: Essential Facts
Insights into Refex: Essential Facts Ash & Coal Handling – 50,000 MT Daily 22+ PAN India 4 200+ Years of Experience Presence Business Verticals Team Size Refrigerant Gases Capacity - 3,000 MTPA CO2 Abated due to zero tailpipe Emissions of RGML Fleet - 3,30,000 KG Total Fleets Owned / Leased Ranked W
Slide 8: Guiding Principles: Vision & Mission
Guiding Principles: Vision & Mission Vision Mission To be the most preferred company; We will strive to attain our goals by committed to seeking growth and prosperity exceeding the needs & expectations of by achieving a sustainable competitive share our customers with continuous – globally; using in
Slide 9: Defining Direction: Core Values, Purpose & Goals
Defining Direction: Core Values, Purpose & Goals Core Values Leadership Integrity Customer by & Value Example Transparency Fairness Excellence Purpose Goals To contribute towards a carbon At the core of our business remains our neutral world by accelerating the commitment to our clients to position
Slide 10: Journey: A Path of Innovation & Sustainability
A Path of Innovation & Sustainability 2002 Refex Industries Limited, formerly known as Refex Journey Refrigerant Limited, was founded 2003 - 2004 • Established a refrigerant gas refilling facility in Chennai • Commended by the Minister of State for Commerce & Industry, Government of India for introd
Slide 11: Refex's Vertical Wise Presence: Spanning Across the Nation
Refex’s Vertical Wise Presence: Spanning Across the Nation Haryana Delhi Rajasthan Uttar Pradesh Bihar Jharkhand Madhya Pradesh West Bengal Gujarat Chhattisgarh Maharashtra Odisha Mumbai Karnataka Headquarter Andhra Pradesh Refrigerant Gas Bengaluru Chennai Green Mobility Ash & Coal Handling Tamil N
Slide 12: Proud Moments: Awards & Accolades
Proud Moments: Awards & Accolades REFEX certified as a ‘Great Place To Work’ by GPTW in March 2023 REFEX certified as a ‘Great Place To Work’ by GPTW second time in a row in April 2024. Anil Jain Announced as a Bronze Stevie Award winner For the ‘Best Entrepreneur of the Year’ Refex named as a Gold
Slide 13: Leading the Charge: Commitment to Sustainability Through Innovative Practices
Leading the Charge: Commitment to Sustainability Through Innovative Practices Energy Conservation Environmental Restoration • Committed to a clean energy transition, relying • The Company prioritizes ecosystem restoration more on renewable energy sources for its and biodiversity conservation operati
Slide 14: Business Overview
Business Overview
Slide 15: Backbone of Refex: Exploring Business Verticals
Backbone of Refex: Exploring Business Verticals Ash and Coal Handling Refrigerant Gases Power Trading Green Mobility Investor Presentation 14
Slide 16: Revolutionizing Ash Disposal: Refex Setting the Standard for Sustainability
Revolutionizing Ash Disposal: Refex Setting the Standard for Sustainability In MT Ash Disposed 60,40,489 Refex forayed into the Ash & Coal Handling business in 2018. The Company is a prominent player in the ash disposal sector, mitigating the environmental pollution caused by the combustion of coal
Slide 17: Efficient Coal Handling Solutions
Efficient Coal Handling Solutions: Refex's End-to-End Coal Handling Expertise The Company provides comprehensive services for coal yard management in thermal power plants. Refex is engaged in - Coal Trading - Round-the-clock management of coal yards - Over Burden (OB) Excavation Refex is presently e
Slide 18: Insights on Refex's Fleet for Ash handling
Insights on Refex's Fleet for Ash handling Refex operates 800 owned & leased fleets exclusively for Ash handling Investor Presentation 17
Slide 19: Data Analysis & GPS Tracking: Enhancing Efficiency
Data Analysis & GPS Tracking: Enhancing Efficiency In commitment towards digital transformation of the company, Refex prioritizes leveraging technology to enhance operational efficiency, and profitability, ultimately driving sustained value and growth. Snapshot of the Software Centralized data colle
Slide 20: Esteemed Clients – Ash & Coal Handling
Esteemed Clients – Ash & Coal Handling Servicing Reputed Cement Companies Some of the Key Clients Investor Presentation 19
Slide 21: Eco Friendly Refrigerant Gases: Refex Leading the Sustainable Cooling Revolution
Eco Friendly Refrigerant Gases: Refex Leading the Sustainable Cooling Revolution Since inception in 2002, Refex Industries Limited has been a pioneering force in the realm of eco-friendly refrigerant gases. The Company is a prominent supplier of HFC refrigerant gases within India, specializes in pro
Slide 22: Esteemed Clients - Refrigerant Gases
Esteemed Clients - Refrigerant Gases Major Customers Investor Presentation 21
Slide 23: Facilitating Power Flow: Refex's Diversification into Power Trading
Facilitating Power Flow: Refex's Diversification into Power Trading TO BE UPDATED Beginning in 2022, Refex ventured into Power Trading to bridge the gap between producers and consumers. Ranked Among the Top 10 Category 1 Power Traders in India by Power Trading License Volume of Electricity Traded in
Slide 24: Esteemed Clients - Power Trading
Esteemed Clients - Power Trading Collaborated with Major Suppliers As well as state DISCOMS including Haryana, Punjab, Himachal Pradesh, and Tamil Nadu Investor Presentation 23
Slide 25: Towards Greener Horizons: Refex Green Mobility's Integrated Mobility Services
Towards Greener Horizons: Refex Green Mobility's Integrated Mobility Services Refex Green Mobility Limited (RGML), a wholly-owned subsidiary of Refex Industries Limited, commenced Green Mobility operations in Bengaluru in March 2023. The Company provides bundled offerings that include electric vehic
Slide 26: Green Mobility Consumers
Green Mobility Consumers Investor Presentation 25
Slide 27: Management Overview
Management Overview
Slide 28: Guiding the Way: Refex's Board of Directors
Guiding the Way: Refex’s Board of Directors Anil Jain Dinesh Kumar Agarwal Susmitha Siripurapu Chairman & Managing Director Whole-time Director & CFO Non-Executive Director Latha Venkatesh Ramesh Dugar Sivaramakrishnan Vasudevan Independent Director Independent Director Independent Director Investor
Slide 29: Leadership Roles: Driving Growth & Innovation
Leadership Roles: Driving Growth & Innovation Mr. Anil Jain Mr. Dinesh Kumar Agarwal Chairman & Managing Director Whole-time Director & CFO Mr. Anil Jain epitomizes the essence of entrepreneurial success, embarking on Mr. Dinesh Agarwal, with his extensive background in Corporate Finance, has his jo
Slide 30: Vertical Leadership: Key Managers Driving Excellence
Vertical Leadership: Key Managers Driving Excellence Lalitha Uthayakumar Purvesh Kapadia Sahil Singla Sachin Navtosh Jha President – Refrigerant Gas CHRO Head – Corporate Finance Chief of Staff – Green Mobility Experience: 30+ Years Experience: 25+ Years Experience: 19+ Years & Power Trading Qualifi
Slide 31: Vertical Leadership: Key Managers Driving Excellence
Vertical Leadership: Key Managers Driving Excellence Sonal Jain Harini S Ankit Poddar Gagan Bihari Pattnaik Srividya.N Head - FP&A Head – Legal Company Secretary & Head – ESG & Sustainability Head – Corporate Experience: 19+ Years Experience: 17+ Years Compliance Officer Experience: 18+ Years Commun
Slide 32: Industry Overview
Industry Overview
Slide 33: Overview of the Indian Fluorochemicals Market: Insights & Projections
Overview of the Indian Fluorochemicals Market: Insights & Projections In 2023, the Indian fluorochemicals market displayed strong growth and significant requirements from the HFC gases market, highlighting its substantial presence and contributions. • Indian fluorochemicals market in 2024: $770 mill
Slide 34: India's Coal Industry: Key Highlights
India's Coal Industry: Key Highlights India's Coal Industry Sees Record Production, Emphasizes Sustainability in Ash Disposal • India achieved a record-high coal production of 892.74 MMT in FY23, catering • Coal and lignite-based power plants contribute 69% of India's electricity, to demands from cr
Slide 35: Insights into India's Power Sector
Insights into India's Power Sector India's Power Generation Surges in FY23, Setting Records Total Generation in India Amidst Dynamic Sector Growth (Including Renewable Sources) (BU) 1800 1,624.15 • India's power generation in FY23 grew by 8.87%, the highest in over 30 years, reaching 1,624.15 billio
Slide 36: India's Electric Vehicle Revolution
India's Electric Vehicle Revolution: Targeting 80 Million EVs by 2030 • India's electric vehicle sector is rapidly expanding, driven by government incentives and environmental concerns. • Ambitious targets for EV adoption by 2030 include significant proportions in various vehicle categories, aiming
Slide 37: Q1 FY25 Financial Highlights
Q1 FY25 Financial Highlights
Slide 38: Last Five Consolidated Quarter Performance
Last Five Consolidated Quarter Performance In ₹ Cr Particulars Q1 FY25 Q1 FY24 Revenues 595.12 382.33 Other Income 2.09 1.87 Total Income 597.21 384.20 Raw Material Costs 532.14 334.88 Employee Costs 8.49 3.85 Other Expenses 6.07 7.19 Total Expenditure 546.70 345.93 EBITDA 48.42 36.40 EBIDTA Margin
Slide 39: Last Five Standalone Quarter Performance
Last Five Standalone Quarter Performance In ₹ Cr Particulars Q1 FY25 Q1 FY24 Revenues 589.65 381.37 Other Income 2.40 1.93 Total Income 592.05 383.30 Raw Material Costs 526.90 334.17 Employee Costs 5.50 3.51 Other Expenses 5.01 7.12 Total Expenditure 537.41 344.79 EBITDA 52.24 36.57 EBIDTA Margin (%
Slide 40: Standalone Financial Overview
Standalone Financial Overview
Slide 41: Key Financial Highlights
Key Financial Highlights Total Income EBITDA & EBITDA Margin PAT & PAT Margin EBITDA EBITDA Margin PAT PAT Margin 1,637.44 174.65 1,388.84 116.06 148.75 100.95 45.39 60.87 448.98 13.55 10.12 10.67 10.85 7.07 7.27 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 All Figures In ₹ Cr and Margin In % Invest
Slide 42: Profit & Loss Statement
Profit & Loss Statement In ₹ Cr Particulars FY24 FY23 FY22 Revenues 1,370.56 1,629.15 443.96 Other Income 18.28 8.29 5.03 Total Income 1,388.84 1,637.44 448.98 Raw Material Costs 1,181.82 1,422.47 355.47 Employee Costs 16.21 14.04 13.16 Other Expenses 23.77 17.99 14.46 Total Expenditure 1,221.80 1,4
Slide 43: Balance Sheet
Balance Sheet In ₹ Cr Equities & Liabilities FY24 FY23 FY22 Assets FY24 FY23 FY22 Equity 23.14 22.11 21.00 Non Current Assets Reserves 449.52 292.29 162.96 Fixed Assets 152.82 150.01 85.42 Net Worth 472.66 314.40 183.96 Non Current Investments 81.12 73.85 74.00 Non Current Liabilities Other Non Curr
Slide 44: Cash Flow Statement
Cash Flow Statement In ₹ Cr Particulars FY24 FY23 FY22 Cashflow from Operations -4.49 27.91 -13.82 Cashflow from Investments -15.62 -77.66 -5.14 Cashflow from Financing 42.83 59.64 2.01 Net Cash flow 22.72 9.89 -16.96 Opening Cash Balance 10.18 0.29 17.24 Closing Cash Balance 32.90 10.18 0.29 Invest
Slide 45: Key Ratios
Key Ratios (In %) ROCE (In %) ROE 36.92 24.67 33.74 21.36 27.56 22.67 FY22 FY23 FY24 FY22 FY23 FY24 Trade receivables turnover ratio (In Times) Trade payables turnover ratio (In Times) 9.01 10.56 9.62 4.98 4.24 4.02 FY22 FY23 FY24 FY22 FY23 FY24 Investor Presentation 44
Slide 46: Key Ratios
Key Ratios Debt to Equity (In Times) Current Ratio (In Times) 0.46 0.47 2.87 0.34 1.67 1.59 FY22 FY23 FY24 FY22 FY23 FY24 Debt Service Coverage Ratio (In Times) Net capital turnover ratio (In Times) 8.39 3.06 2.27 5.17 1.93 4.23 FY22 FY23 FY24 FY22 FY23 FY24 Investor Presentation 45
Slide 47: Vertical-Specific Revenue Insights
Vertical-Specific Revenue Insights FY24 (In %) FY23 (In %) FY22 (In %) 4.06% 0.42% 4.17 16.65 0.00 0.76% 0.71 0.69 5.28% 3.95 2.63 8.50 11.51 72.22 20.50% 78.96 0.00 69.00% Solar Power Generation Ash & Coal Handling Business Power Trading Refrigerant Gas Sale of Service Other Income and Related Acti
Slide 48: Stock Data and Share Performance
0 600 1000 200 400 800 01-Jan-14 01-Mar-14 Source - BSE Source - BSE 01-May-14 Face Value (₹) 01-Jul-14 Share Price (₹) Investor Presentation 01-Sep-14 Stock Data 01-Nov-14 52 week High-Low (₹) 01-Jan-15 01-Mar-15 No. of Shares Outstanding 01-May-15 Market Capitalization (₹ Cr) 01-Jul-15 01-Sep-15 0
Slide 49: The Way Ahead
The Way Ahead
Slide 50: Strategic Initiatives for Ash & Coal Handling Expansion
Strategic Initiatives for Ash & Coal Handling Expansion Ash & Coal Handling • Increasing Capacity: Doubling the capacity for ash collection, transportation, and disposal to accommodate larger volumes of ash and coal • Geographical Expansion: Entering 10 additional states to tap into new markets • Fl
Slide 51: Driving Growth: Advancing Refrigerant Gases & Green Mobility
Driving Growth: Advancing Refrigerant Gases & Green Mobility Refrigerant Gases Green Mobility • New Contracts: The Company will continue to explore organic • Geographical & Capacity Expansion: Refex is planning to expand expansion strategy to deploy more vehicles to support the geographically and ex
Slide 52: Power Trading Expansion: Diversifying Nationwide
Power Trading Expansion: Diversifying Nationwide Power Trading • The company aims to diversify its contract portfolio by engaging in short-term and medium-term agreements with both power generators and buyers nationwide • Embracing both bilateral modes and electronic platforms like power exchanges a
Slide 53: Thank You
Thank You Refex Industries Limited 2nd Floor, No.313, Refex Towers, Sterling Road, Nungambakkam, Chennai, Tamil Nadu – 600034 E-mail: investor.relations@refex.co.in Phone: 044 4340 5900 Website: www.refex.co.in Kirin Advisors Private Limited 713-B, Lodha Supremus II, Wagle Estate, Thane West – 400 6