Century Plyboards (india) Ltd. · NSE:CENTURYPLY
Century Plyboards (india) — Q1 FY2024 Earnings Presentation
30 slides from Century Plyboards (india)'s earnings presentation, Aug 4, 2023
Slide 1: Exchange filing cover letter: Investor Presentation
Date: 4th August, 2023 BSE Ltd. National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Bandra (E) Dalal Street Mumbai- 400 051 Mumbai- 400 001 Scrip Name- Centuryply Scrip Code: 532548 Dear Sir/ Madam Sub: Investor Presentation In terms of SEBI (Listing
Slide 2: Financial Results Update for the Quarter ended 30th June, 2023
Financial Results Update for the Quarter ended 30th june, 2023
Slide 3: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), which have been prepared by Century Plyboards (India) Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: Contents
Contents Topics Page No. Key Highlights 1-2 Balance Sheet 3 Net Borrowings & Treasury Assets 4 Key Ratios 5 Working Capital Cycle 6 Profit & Loss - Summary 7-8 Plywood - Volumes & Financials 9 - 10 Laminates - Volumes & Financials 11 - 12 MDF - Volumes & Financials 13 - 14 Particle Board - Volumes &
Slide 5: Key Highlights
KEY HIGHLIGHTS Results for Q1 of FY 24 are in line with prevailing market scenario. On YoY basis we could hold our top line and bottom line. Results are not comparable QoQ basis as fourth quarter is historically best quarter. On YoY basis the top line is almost maintained at Rs. 882.39 Cr against Rs
Slide 6: Key Highlights - Continued
KEY HIGHLIGHTS - Continued On YoY basis MDF revenue improved from 155.60 Crore to 166.77 Crore and EBIDTA margins are reduced from 34.9% to 26.2%. The margins are reduced mainly due to increase in raw-material prices, which could not be passed on. In order to improve profitability company is focussi
Slide 7: Balance Sheet
BALANCE SHEET Rs. Crores PARTICULARS 2019 2020 2021 2022 2023 Q1FY24 Net Worth (Including Share Capital -22.25 Cr) 969.12 1,073.38 1,264.88 1,564.87 1,897.97 1,981.97 Debt - Long Term Debt (Excl Current Maturities) - FCY 72.29 51.50 23.73 - - - - Long Term Debt (Excl Current Maturities) - INR 59.98
Slide 8: Net Borrowings & Treasury Assets
NET BORROWINGS & TREASURY ASSETS Rs. Crores Average Current Borrowings Long Term Total ROI Maturities* Rs. Crore Buyers Credit - Capex 6.10% 81.33 Long Term Debt - Finance Lease (INR) 8.38% 0.14 0.14 0.28 6.11% 0.14 0.14 81.61 Short Term Debt (Excluding Buyers Credit) Packing Credit 5.64% 71.50 Cash
Slide 9: Key Ratios
KEY RATIOS KEY RATIOS 2018-19 2019-20 2020-21 2021-22 2022-23 *Q1FY24 Return on Avg Equity (ROAE) (%) 17.58% 15.49% 16.43% 22.99% 21.19% 17.34% Return on Avg Capital Employed (ROACE) (%) 17.88% 17.60% 20.00% 31.07% 25.97% 21.55% Total Outside Liabilities to Net Worth (TOL/TNW) 0.82 0.52 0.41 0.42 0.
Slide 10: Working Capital Cycle
WORKING CAPITAL CYCLE RATIOS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 Q1FY23 Q1FY24 Net Sales for the Period In Rs Cr 2,263.83 2,282.68 2,113.48 3,000.88 3,620.65 881.48 882.39 Debtor In Rs Cr 293.55 258.16 297.01 348.87 384.68 365.45 388.00 Annualized Debtor Days (A) 47.33 41.28 51.29 42.43 38.
Slide 11: Profit & Loss - Summary
PROFIT & LOSS - SUMMARY Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A1 NET TURNOVER In Rs Cr 2,247.62 2,270.24 2,103.13 2,982.97 3,606.43 1.0% -7.4% 41.8% 20.9% 959.03 880.01 878.35 -8.2
Slide 12: Profit & Loss - Summary - continued
PROFIT & LOSS – SUMMARY - continued Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY I1 EBIT (E1 - H) In Rs Cr 256.44 247.63 271.62 489.80 509.46 -3.4% 9.7% 80.3% 4.0% 157.59 118.24 133.44 -2
Slide 13: Plywood – Volume Details
PLYWOOD – VOLUME DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A VOLUME A1 -Plywood CBM 2,20,442 2,20,813 2,07,665 2,81,040 3,44,028 0.2% -6.0% 35.3% 22.4% 94,546 85,023 83,017 -10
Slide 14: Plywood – Financial Details
PLYWOOD – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A1 NET TURNOVER In Rs Cr 1,273.39 1,230.99 1,120.12 1,579.32 2,006.91 -3.3% -9.0% 41.0% 27.1% 566.45 487.46 473.54
Slide 15: Laminates – Volume Details
LAMINATES – VOLUME DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A VOLUME A1 - Laminates NOS. 58,58,029 61,61,428 54,87,222 67,06,596 71,50,683 5.2% -10.9% 22.2% 6.6% 17,59,096 18,
Slide 16: Laminates – Financial Details
LAMINATES – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2021-22 2022-23* 19 vs 20 20 vs 21 21 vs 22 22 vs 23 2020-21 Mar'23* Jun'23 Jun'22* QoQ YoY A1 Net Turnover In Rs Cr 432.19 454.58 407.96 567.06 651.26 5.2% -10.3% 39.0% 14.8% 158.98 154.69 161.91 -2.7
Slide 17: MDF – Volume Details
MDF – VOLUME DETAILS A1 PLAIN MDF CBM 1,15,563 1,30,989 1,21,617 1,40,846 1,42,915 13.3% -7.2% 15.8% 1.5%36,427 35,737 35,387 -1.9% A2 PRELAM MDF CBM 16,666 22,186 25,634 37,090 42,404 - 15.5% 44.7% 14.3% 10,374 12,251 9,922 18.1% A3 TOTAL CBM 1,32,229 1,53,175 1,47,251 1,77,936 1,85,319 15.8% -3.9%
Slide 18: MDF – Financial Details
MDF – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A1 NET REVENUE - External Sales In Rs Cr 295.13 350.38 359.24 555.43 637.61 18.7% 2.5% 54.6% 14.8% 160.50 166.77 155.3
Slide 19: Particle Board – Volume Details
PARTICLE BOARD – VOLUME DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A VOLUME A1 PLAIN PARTICLE BOARD CBM 25,916 28,340 23,680 22,154 15,773 9.4% -16.4% -6.4% -28.8% 4,061 6,650 5
Slide 20: Particle Board – Financial Details
PARTICLE BOARD – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A1 NET REVENUE - EXTERNAL SALES In Rs Cr 97.47 99.11 90.08 150.55 174.00 1.7% -9.1% 67.1% 15.6% 37.22 39.46
Slide 21: Logistics (CFS) – Volume Details
LOGISTICS (CFS) – VOLUME DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A VOLUME A1 - CFS TEUs 69,055 59,904 53,356 54,482 50,013 -13.3% -10.9% 2.1% -8.2% 13,133 14,287 12,679 8.8%
Slide 22: Logistics (CFS) – Financial Details
LOGISTICS (CFS) – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A1 Net Turnover In Rs Cr 99.18 86.26 82.26 77.52 80.85 -13.0% -4.6% -5.8% 4.3% 23.12 20.80 20.66 -10.1% 0.
Slide 23: Others – Financial Details
OTHERS – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2018-19 2019-20 2020-21 2021-22 2022-23 19 vs 20 20 vs 21 21 vs 22 22 vs 23 Mar'23 Jun'23 Jun'22 QoQ YoY A1 Net Turnover In Rs Cr 50.24 48.92 43.47 53.08 55.80 -2.6% -11.1% 22.1% 5.1% 12.75 10.84 15.78 -15.0% -31.3% A2 A
Slide 24: Capex Details
CAPEX DETAILS Rs. Crores 2014-15 to Q1 Q2 -Q4 Particulars 2018-19 2019-20 2020-21 2021-22 2022-23 2024-25 Total 2017-18 FY 23-24 FY 23-24 MDF - Hoshiarpur Plant 335.62 13.65 4.82 1.42 - - - - 355.51 MDF - Expansion at Hoshiarpur - - - 15.74 129.84 109.62 1.97 - 257.17 MDF - Greenfield at Andhra Prad
Slide 25: Term Loan Projection
TERM LOAN PROJECTION Rs. Crores PARTICULARS 2018-19 2019-20 2020-21 2021-22 2022-23 Q1 FY24 Q2-Q4 FY24 2024-25 OPENING - ECB 118.15 102.81 78.67 50.21 24.47 - - - - Buyer's Credit - PB & Others 11.61 - - - - - - - Buyer's Credit - MDF 82.12 41.09 - - 55.81 72.95 81.33 81.33 - Buyer's Credit - PB Che
Slide 26: Fund Flow Statement
FUND FLOW STATEMENT Rs. Crores SUMMARY FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Q1FY24 OPENI NG CASH/CASH EQUI VALENT 53.84 16.51 22.61 21.22 186.01 249.27 259.64 ADD: OPERATI ONAL CASH I NFLOW / (OUTFLOW) 158.11 260.02 212.28 244.75 242.60 407.89 -153.80 LESS: DI VI DEND PAYMENTS 26.74 26.74
Slide 27: Fund Flow Statement - continued
FUND FLOW STATEMENT - continued Rs. Crores LONG TERM CASH FLOW FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Q1FY24 INFLOWS Long Term Borrowings - Rupee Term Loan & Finance Lease 20.50 4.27 0.00 0.00 0.00 0.00 0.00 - Foreign Currency Loan 38.98 0.00 0.00 0.00 0.00 0.00 0.00 - Buyers Credit 9.44 0.
Slide 28: Forex Exposure
FOREX EXPOSURE 30.06.23 vs 31.03.23 PARTICULARS 31.03.2019 31.03.2020 31.03.2021 31.03.2022 31.03.2023 30.06.2023 Diff Diff % AVERAGE FOREX BOOKING RATES @ Rs. - USD 64.04 72.94 71.26 75.14 78.33 82.72 4.39 5.6% - EURO 81.73 80.61 83.41 82.84 86.28 94.16 7.88 9.1% FOREX REINSTATEMENT RATES @ Rs. - U
Slide 29: Summary – Consolidated Financials – Q1FY24
SUMMARY – CONSOLIDATED FINANCIALS – Q1FY24 SUBSIDIARIES Ara,Arha Ara, Consoli- Century Ply Auro Century Century Century Particulars Auro - Singapor m, Arham, Century Infotech Century Century dated Standalone Sundara Singapor MDF & Gabon - NCI e NCI Apnapan Adonis, Infotech NCI Panel Gabon Total m e
Slide 30: Thank You
o — — a CENTURYPLY Thank You ‘* CENTURYPLY
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