Punjab Chemicals & Crop Protection Ltd. · NSE:PUNJABCHEM
Punjab Chemicals & Crop Protection — Q1 FY24 Earnings Presentation
31 slides from Punjab Chemicals & Crop Protection's earnings presentation, Aug 4, 2023
Slide 1: Stock exchange filing cover letter
u PUNJAB CHEMICALS AND (]ROP PROTECTION LTD ctN No. L24231 PB{975PLC047063 Regd. Office & Works Milestone-18, Ambala-Kalka Road, Village & P.O. Bhankharpur, Derabassi, Distt SAS Nagar, Mohali (Punjab)-14020l,INDIA Tele:01762-280086, 522250,Fax: Afi62-280070, E-mail: info@punjabchemicals.com, Website
Slide 2: Q1 FY24 Result Presentation
Q1 FY24 RESULT PRESENTATION August 2023
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Punjab Chemicals & Crop Protection Ltd (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscri
Slide 4: Table of Contents
Table of Contents 01 Result Highlights 02 Company Overview 0 03 Business Strategy 04 Agrochemicals Industry Overview 05 Performance Track Record
Slide 5: Result Highlights
Result Highlights
Slide 6: Result Highlights
Result Highlights Q1 FY24 +3.4% +6.8% +7.7% ₹ 281 cr ₹ 38 Cr ₹ 22 Cr Revenue YoY EBITDA YoY PAT YoY • Registered a Revenue of Rs 281 Cr in Q1 FY 24 with a 44% growth q-o-q and 3.4% growth y-o-y, with improvement in both exports & domestic sales clocking growth • Lower gross margin is attributable to
Slide 7: Q1 FY24 Financial Performance
Q1 FY24 Financial Performance REVENUE GEOGRAPHICAL SPLIT +3.4% 272 281 Domestic 130 135 272 281 International 142 146 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 EBITDA & EBITDA MARGIN PAT & PAT MARGIN 13.0% 13.4% 7.4% 7.8% +6.8% +7.7% 35 38 20 22 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 YoY Comparison (In ₹ cr, except
Slide 8: FY23 Financial Performance
FY23 Financial Performance REVENUE GEOGRAPHICAL SPLIT +7.8% 1006 933 425 Domestic 446 933 1,006 International 487 581 FY22 FY23 FY22 FY23 EBITDA & EBITDA MARGIN PAT & PAT MARGIN 15.0% 12.2% 8.9% 6.1% 140 83 123 61 FY22 FY23 FY22 FY23 YoY Comparison (In ₹ cr, except margin) 7
Slide 9: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (In Rs Cr) Q1 FY24 Q1 FY23 YoY % Q4 FY23 QoQ % FY23 Revenue 281.4 272.1 3.4% 195.0 44.3% 1,006.2 COGS 182.1 171.2 119.4 636.2 Gross Profit 99.2 100.9 -1.6% 75.6 31.3% 370.1 Gross Margin % 35.3% 37.1% 38.8% 36.8% Employee Expenses 21.2 20.2 21.9 83.3 O
Slide 10: Company Overview
Company Overview
Slide 11: Our Company
Our Company Established in 1975 as Punjab United Pesticides & Chemical Ltd (PUPCL), the company has now evolved into Punjab Chemicals and Crop Protection Ltd. We have separate synergistic Agrochemicals, Pharmaceuticals and Industrial chemical divisions with state-of-the-art manufacturing facilities
Slide 12: Our multi-decade story of growth and value-creation
Our multi-decade story of growth and value-creation 1975 1978 1983 1995 2003 Punjab United Pesticides & The Company’s equity shares The Company diversified its The Company began to focus The Company established a Chemicals Limited was were publicly issued. product portfolio into on agro chemicals an
Slide 13: Manufacturing Process
Manufacturing Process 2 Manufacturing facilities at Derabassi & Lalru in Punjab || 1 facility in Pune, Maharashtra with food grade certification. Derabassi & Lalru plants are certified with ISO 9001:2015 , ISO 14001:2015 and ISO 45001:2018. Pune unit is certified with GMP & ISO 22000 Total Reactor C
Slide 14: Synergistic Product Portfolio
Synergistic Product Portfolio Divisions Major chemistries Product Category ▪ Chlorination ▪ Hydrazine Fungicide, Herbicide. Manufacturing patented ▪ Hetrocyclic Agrochemicals/ Intermediates ▪ Bromination ▪ Oxidation products under long term agreement/ in-house R&D ▪ Benzylation ▪ Methylation ▪ Halog
Slide 15: Annual Production (MT) & Capacity Utilisation (%)
Annual Production (MT) & Capacity Utilisation (%) Derabassi Lalru 82% 73% 80% 85% 75% 81% 60% 71% 73% 70% 54% 55% 1,610 23,797 24,338 1,391 1,402 1,345 19,914 17,543 17,497 1,143 6,599 292 FY19 FY20 FY21 FY22 FY23 Q1 FY24 FY19 FY20 FY21 FY22 FY23 Q1 FY24 Note : 2 new products have been developed and
Slide 16: R&D Capabilities
R&D Capabilities Our R&D talent pool 1 Advanced R&D facility at both Derabassi & Lalru 2 Both facilities have kilo lab & pilot plants for scale up & 24 commercial trials. Strength of R&D Team 3 More than 8 products at different development stages 30 Strength by FY24 4 ~40% of the new enquiries from
Slide 17: Product Pipeline
Product Pipeline No. of Category Business Model Product Segment End crop application Targeted Market Stage products Wheat, Corn, Stone fruits, North America, APAC, Reached CRAMS Fungicide, Insecticide 4 Rice, Soyabean, Potatoes, Middle East, Africa, commercial stage Cotton, Paddy Mature molecules wi
Slide 18: Environment, Health & Safety Measure
Environment, Health & Safety Measure Upgraded Effluent Treatment Plant at Plants equipped with Derabassi . Incineration at Lalru is occupational health facilities, 1 being upgraded to more efficient 5 professional trained staff and system with latest technology instituted practices. Member of new Co
Slide 19: Our Global Clientele
Our Global Clientele Target regions for next leg of growth: Latin America, South Asia, European Union The brand names /logos mentioned are the property of their respective owners and are used here for identification purpose only 18
Slide 20: Leadership Team: Board of Directors
Leadership Team: Board of Directors Board Composition Mr. Mukesh D. Patel Mr. Shalil Shroff Mr. Vijay Rai Chairman & Managing Independent Independent Director Director Director More than 50% of 55% the Board members are Independent Directors Capt Surjit Singh Ms. Aruna Bhinge Mr. Sheo Prasad Chopra
Slide 21: Leadership Team: Key Management Team
Leadership Team: Key Management Team Mr. Vinod Gupta, Mr Ashish Nayak, Ms. Rishu Chatley, Dr Vijay Kaushik, Chief Executive Officer Chief Financial Officer Company Secretary Assistant Vice President- R & D • Chemical Engineer, IIT-B & PGPX, IIM-A • Chartered Accountant and has a bachelor degree of •
Slide 22: Business Strategy
Business Strategy
Slide 23: Business Model
Business Model Identify Niche Products Partner for Contract Manufacturing Target ₹ 150-200 cr revenue per product Offer attractive and cost- effective solution Target clients - Global Agrochemical/ Specialty Long term engagement favorable for both parties chemical leaders Faster turnaround Mid-sized
Slide 24: Strategic Advantage
Strategic Advantage Manufacturing and Consistent Low-Cost Operator R&D Capability Track Record Developed an efficient cost Availability of technically Historical association with competitive process over the trained manpower , Domestic clients helped last decade and are extra production capacity to
Slide 25: Agrochemicals Industry Overview
Agrochemicals Industry Overview
Slide 26: Indian Agrochemicals Industry
Indian Agrochemicals Industry India is the 4th largest producer and a net exporter of agrochemicals and has emerged as the 13th largest exporter of pesticides globally Outlook of pesticides production for technical grade (‘000 tonnes)# * Segments 2021-22 2026-27P CAGR Insecticides 109 ~134 4%-4.5% F
Slide 27: Industry Opportunity
Industry Opportunity Anticipated Growth 2018 → 2025 Opportunity size Capitalising on Opportunity Integrated Pest $ 32 bil → $ 49 bil Biologicals $2.8 bil → $7.1 bil Improvements in formulation, ease of use, shelf life and Management (IPM) CAGR ~ 6.3% CAGR ~ 14.4% spectrum Patent expiry of 100+ agroc
Slide 28: Performance Track Record
Performance Track Record
Slide 29: Performance Track Record
Performance Track Record Revenue (₹ cr) EBITDA (₹ cr) PAT (₹ cr) +16.6% +38.1% 84 +11.8% 1,006 140 933 123 61 643 678 96 49 550 66 42 17 11 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Revenue Split (₹ cr) EBITDA Margin (%) PAT Margin (%) Domestic Export 1,006 15.0 933
Slide 30: Performance Track Record
Performance Track Record Capital Structure (₹ cr) Working Capital Analysis (₹ cr) D/E 1.0x 0.9x 0.6x 0.4x 0.3x 52 32 45 44 36 89 95 85 82 92 87 68 81 91 88 281 -80 226 -100 -85 -103 -102 145 91 98 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Debt Equity Receivable Days Inventory Days Payable Da
Slide 31: Thank You
Mr. Sumeet Khaitan THANK YOU Ashish Nayak Chief Financial Officer sumeet.khaitan@linkintime.co.in +91 70213 20701 investorhelp@punjabchemicals.com Mr. Bhavya Shah bhavya.shah@linkintime.co.in +91 80827 48577
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